EV Resources Limited announced encouraging early-stage results from its Los Lirios antimony project in Oaxaca, Mexico. The company’s initial mineralogical studies on composite samples have revealed an average antimony grade of 4.45%, with key antimony minerals identified as stibiconite (approximately 69.5%) and stibnite (around 30.5%). Both minerals are fully liberated from the surrounding quartz-rich matrix, and the low impurity levels—minimal arsenic, bismuth, and lead—enhance the prospects for a high-quality product. The test work indicates that gravity separation is a suitable and cost-effective recovery method. With the antimony minerals showing densities ranging between 4.0 and 4.6 g/cm³ compared to the gangue minerals’ approximate density of 2.65 g/cm³, the high density contrast could lead to efficient processing. Particle size measurements for stibiconite and stibnite averaged 60 µm and 40 µm respectively, further supporting the chosen recovery technique. Metallurgical test work and flowsheet design are set to commence in July 2025, with plans already underway to establish a 100-tonne-per-day pilot gravity plant, supported by preliminary discussions with equipment suppliers. The announcement underscores EV Resources Limited’s strategy to restart production using historic open pit sites while pursuing broader exploration programs. Detailed mapping, trenching, and additional sampling campaigns are planned for the third quarter of 2025 to refine the understanding of the mineralized envelope and its potential contribution to the global critical minerals supply chain. From a bullish perspective, the high-grade antimony results combined with clean metallurgy and the simplicity of a gravity separation process present a compelling case for cost-efficient production and accelerated project development. The company’s roadmap toward a pilot plant and further exploration could pave the way for value creation and market expansion. Conversely, bearish concerns center on the early-stage nature of the project and the inherent uncertainties associated with pilot testing and commercialization. The reliance on forward-looking plans, potential execution challenges, commodity price volatility, and regulatory hurdles means that while the technical indicators are promising, investors should remain cautious until more definitive progress is achieved.