Antimony is making a lot of headlines these days and several companies are jumping on the bandwagon. NevGold (NAU.V) re-evaluated some of the historical drilling on the Limousine Butte gold project in Nevada and the fresh look at the old drill holes (completed by Newmont (NEM.TO, NEM)) yielded some interesting antimony intervals that really spike the gold-equivalent grade. The company summarized the most impressive results in the bullet points below:
The gold-equivalent results were based on a gold price of $2000/oz and an antimony price of $35,000/t. The antimony price is currently spiking as it is an important critical mineral in the United States but there is no domestic supply chain. Lots of companies are using antimony exposure as an arm-waving strategy so let’s hope this will at least help NevGold to raise more money.
Disclosure: The author has a long position in NevGold. Please read the disclaimer.
