Antimony Resources Approaches a Technical Crossroads as Bald Hill’s Political and Geological Catalysts Converge

The past month has been a harsh one for Antimony Resources shareholders. After a rally that nearly quintupled the stock over twelve months, the shares have given back a significant chunk of those gains. On Friday, the stock closed at €0.43, down 7.84% on the day and 21.20% lower over the trailing 30 days. The retreat has brought the price close to its 200-day moving average of €0.44, while the 14-day relative strength index sits at 36.1 — a level many traders interpret as approaching oversold territory.

Yet the fundamental picture at the company’s flagship Bald Hill antimony project in New Brunswick has arguably improved. The provincial government has thrown its weight behind the project, and two key milestones are imminent that could either validate the hype or expose the stock to further profit-taking.

Ministerial Visit Brings More Than Photo Opportunities

John Herron, New Brunswick’s Minister of Natural Resources, visited the Bald Hill site earlier this month with his deputy and the province’s chief geologist. The delegation toured the Marcus and Main zones, where the company has concentrated its drilling, and examined the core processing facility at Penobsquis. Beyond geology, the minister’s team reviewed access roads and surface runoff protection systems — a sign that regulatory scrutiny is already underway.

The visit aligns with New Brunswick’s newly unveiled critical minerals strategy, which aims to accelerate development of strategic resources like antimony. For Antimony Resources, that political endorsement provides a degree of certainty as it shifts from pure exploration toward the permitting phase.

Should investors sell immediately? Or is it worth buying Antimony Resources?

Two Pivotal Reports in the Pipeline

The company is now operating on two parallel tracks. First, SRK Consultants of Toronto is finalising the initial Mineral Resource Estimate for Bald Hill under NI 43-101 standards, based on approximately 25,000 metres of drilling. The report is expected this month. Previous conceptual targets pointed to around 2.7 million tonnes at antimony grades between 3% and 4%, but those figures will only become binding once the formal estimate is released. A strong result could provide the valuation anchor the stock needs; a disappointing one would leave the recent rally exposed.

Second, Antimony Resources brought GEMTEC Consulting Engineers and Scientists on board in April 2026 to build a detailed permitting roadmap. The plan encompasses environmental baseline studies, consultations with the Department of Indigenous Affairs and local councils, and preparation of formal permit applications. Management has set a target of filing those applications between the fourth quarter of 2026 and the first quarter of 2027.

Drilling Continues With a Full Treasury

To support these efforts, the company has a fully funded expansion drilling programme totalling 19,000 metres already underway. The Main zone has a conceptual exploration target extending to at least 350 metres depth, but a formal resource estimate has been lacking — a gap the SRK report will now fill. The combination of a robust resource and a clear regulatory pathway could shift the narrative from speculative exploration to project development.

For now, the market remains cautious. The stock is well below its 52-week high of €1.05, and the 50-day moving average of €0.66 serves as overhead resistance. Yet with the RSI edging into oversold territory and two catalysts due within weeks, the next few trading sessions may determine whether the recent slide was a healthy correction or the start of a deeper pullback. The outcome rests on the quality of the data SRK delivers — and on whether political goodwill translates into tangible permitting progress.