Antimony Comparison In ASX, page-52

What Makes TMG So Special?

1. ~135kt Sb total (ACP in Utah + WCC in NSW)
2. ACP is the largest and highest-grade undeveloped Sb project in the USA
3. Valuation = just $659 per tonne, vs ~$28k for PPTA
4. Only primarily antimony-focused resource company
5. Dual exposure to U.S. & Australia — both Tier-1 jurisdictions
6. Exploration target at WCC could be at least 100kt Sb resource
7. Plans underway for vertical integration (smelter)

PPTA has lower-grade Sb (~0.06%) but trades at $1.87B cap, UAMY has no Sb resource and still trades at ~$486M, TMG has more Sb than both combined, at much higher grade, and still trades under $90M?

• The world’s running out of antimony.
• China is stepping back.
• The U.S. is desperate.

TMG already has the supply. Valuation reset is coming.