FULL DISCLOSURE: Antimony Resources is a sponsor of theDeepDive.ca via a third party.
Strong investor demand led Antimony Resources (CSE: ATMY) to announce a large $10.0 million financing earlier this week in a transaction being led by two notable placement agents.
The mining firm said it is offering up to 22.25 million units at $0.45 per unit for gross proceeds up to $10.01 million. Each unit includes one common share plus one common share purchase warrant. Each warrant allows purchase of one common share at $0.75 for 24 months from issuance. If the placement is fully subscribed and all investor warrants are exercised, that implies up to $16.7 million in additional proceeds.
The company said net proceeds are earmarked for exploration and development activities plus general working capital.
In its announcement, Antimony Resources indicated that they retained Dominari Securities and Revere Securities as joint placement agents, with 8% cash and 8% broker warrants as part of the service engagement. Dominari Securities is the boutique investment bank whose parent, Dominari Holdings, is partially owned by presidential sons Eric Trump and Donald Trump Jr. Each of the two own 6.28%, per Reuters citing LSEG data.
Dominari, while having been associated with the Trump’s for only a short time, has exhibited a pattern where affiliations act as an accelerant for associated stocks. The Wall Street Journal has identified a number of funding rounds conducted by the agent, in which the Trump’s have taken significant positions.
Earlier in October, Dominari’s financial advisory business also secured approval to act as a lead or principal underwriter for NYSE IPOs, after securing a similar approval from Nasdaq in August. Reuters also reported Dominari’s revenue grew more than five times in the three months ended June 30, described as the first full quarter since the Trump sons joined Dominari’s board in February.
Antimony Resources’ release also packed fresh project metrics: the company is developing the Bald Hill Antimony Project in New Brunswick and said drilling outlined mineralization over 700 meters, with average widths of 3–4 meters and average grades of 3%–4% antimony.
The firm further cited the recent technical report that has outlined a “potential quantity and grade” at Bald Hill in the 2,700,000-tonne range grading 3%–4% Sb, equating to roughly 81,000–108,000 tonnes of contained antimony, with noted infrastructure including roads, power, and a deep-sea port about 45 km away.
FULL DISCLOSURE: Antimony Resources Corp. is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Antimony Resources Corp. The author has been compensated to cover Antimony Resources Corp. on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
