Locksley Resources Halts Exploration at U.S. Antimony and Rare Earth Prospects
Key points
- Exploration at Desert Antimony Mine and El Campo prospects halted due to market downturn
- Significant collapse in antimony prices, over 57%, influences decision
- Company to maintain claims on low-cost basis, preserving strategic options
Full summary
Locksley Resources Limited has concluded that further exploration at its U.S. assets, including the Desert Antimony Mine and El Campo prospects, is not justified under current market conditions. The decision follows a technical, regulatory, and commercial review of the company's portfolio. A significant 57% drop in antimony prices, from $63,000 to $27,000 per tonne, has influenced the Board's decision to cease exploration activities. The company will maintain its claims at a low cost, preserving future strategic options. Additionally, Locksley is reviewing its collaboration with Rice University on hydrometallurgical technology.
Outlook
Locksley Resources plans to maintain its U.S. claims on a low-cost basis, preserving strategic options while focusing on higher priority opportunities.
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