Execution Risks Loom as EV Resources Seeks Strategic $1M Placement from Tribeca Capital
EV Resources announces a $1 million follow-on placement to Tribeca Capital, reinforcing its strategic partnerships and advancing its critical antimony projects aligned with U.S. supply chain ambitions.
- Proposed $1 million placement to Tribeca Capital on recent equity raising terms
- Locksley Resources to invest $0.75 million contingent on Ore Sales Agreement
- Funds allocated to Los Lirios and Dollar Antimony Projects development
- Tribeca Capital’s role as strategic advisor to Locksley Resources strengthens U.S. market ties
- Placement subject to shareholder approval with attached listed options
Strategic Capital Injection
EV Resources Limited (ASX – EVR) has announced a proposed $1 million follow-on placement to Tribeca Capital, building on a recent $5.5 million equity raising. This move, pending shareholder approval, underscores EV Resources’ commitment to advancing its antimony projects with a clear focus on integrating into U.S. critical minerals supply chains.
Tribeca Capital, a notable investor and strategic advisor to Locksley Resources Limited (ASX – LKY), is deepening its involvement in EV Resources. Locksley itself is poised to invest $0.75 million in EV Resources, contingent on finalising a binding Ore Sales Agreement. This partnership aims to secure a reliable supply of antimony concentrate for U.S. refining technologies, reflecting a broader push to strengthen allied supply chains for critical minerals.
Advancing Critical Minerals Projects
The capital raised will be directed towards progressing EV Resources’ flagship Los Lirios and Dollar Antimony Projects. Planned activities include drilling programs, resource definition, pilot plant upgrades, and further validation of concentrate quality for downstream applications in the U.S. market. These initiatives are vital steps in positioning EV Resources as a key supplier within the evolving critical minerals landscape.
Tribeca Capital’s involvement is more than just financial; its expertise in advanced materials and global resource funding, combined with its advisory role to Locksley, provides EV Resources with valuable strategic insights and connections. This relationship is expected to accelerate EV Resources’ integration into U.S.-aligned supply chains and downstream processing collaborations.
Market and Strategic Implications
EV Resources’ Chairman, Shane Menere, highlighted the significance of Tribeca’s strategic investment, emphasizing the alignment with U.S. supply chain policies and the company’s vision to become a leading antimony supplier to allied markets. The placement includes approximately 125 million new shares priced at $0.008 each, along with 62.5 million listed options exercisable at $0.02, expiring in November 2026.
While the placement awaits shareholder approval, the collaboration with Locksley and Tribeca signals strong institutional confidence in EV Resources’ growth trajectory. However, the conditional nature of the Locksley investment and the need for binding agreements introduce execution risks that investors will watch closely.
Bottom Line?
EV Resources’ strategic capital raise and partnerships mark a pivotal step toward securing its role in critical U.S. supply chains, but execution risks remain ahead.
Questions in the middle?
- Will shareholder approval be secured to finalise Tribeca Capital’s placement?
- How soon can EV Resources and Locksley Resources formalise the Ore Sales Agreement?
- What milestones will validate the economic viability of the Los Lirios and Dollar projects?
