Ann: Quarterly Activities and Cashflow Reports, page-3

The Q2 FY’22 Production Report states that GNM is now going to undertake a Scoping Study to determine the way forward for Camel Creek, Big Rush and Golden Cup mines (together known as the Golden Ant Project) looking to best see how all three locations are mined with a likely joint production facility.

The Q2 Production Report also states that sufficient antimony is available to be mined and processed into a concentrate. Currently antimony trades at around US$12,500 per tonne.
Antimony is on the US Critical Minerals List and likewise in Australia.

World antimony production is around 150,000 tonnes per year. In 2020 153,000 tonnes were mined with China being the largest producer at around 80,000 tonnes. Russia is #2 and Tajikistan #3.

The US uses about 60,000 tonnes of antimony a year and around 84% of that is supplied by China.

The US only has antimony reserves in Alaska in the form of stibnite.

It seems that with the antimony grades GNM has that there is a chance we may have a valuable byproduct on our hands. Sometimes companies that produce critical minerals can get favourable treatment in forms such as government grants and low cost financing. Lynas comes to mind.

Let’s hope the Camel Creek assays due any day help the Scoping Study and we see a clear pathway to production.

Cheers……Daicosisgod