EV Resources Limited has entered into a strategic tri-party agreement with Wogen Resources Ltd and Xcelsior Capital Advisors Ltd to secure vital support for its Los Lirios Antimony Project in Oaxaca, Mexico. The tripartite Memorandum of Understanding outlines provisions for a proposed secured debt facility of US$2–3 million, which is aimed at advancing the project towards production. Additionally, the agreement grants Wogen exclusive rights to purchase antimony products, contingent on a favorable internal scoping study and the successful execution of detailed definitive agreements. Under the terms of the agreement, both Wogen and Xcelsior will also provide essential technical guidance and market intelligence to refine product specifications, pricing, and marketing strategies. The deal further includes the issuance of 10 million unlisted options to the two partners, exercisable at a nominal price over a four-year period. These steps are designed to support EV Resources Limited’s plan to restart production at historic open pits and to develop a 100 tonne-per-day antimony processing plant, which will process ore from Los Lirios as well as third-party sources. The project gains further credibility from promising mineralogical studies that have revealed high-grade antimony samples—some reaching up to 62.99% antimony—with low impurities. These encouraging results have led to the commencement of metallurgical tests, flowsheet design, and early discussions with equipment suppliers on establishing a pilot plant that will utilize proven gravity and flotation recovery methods. The partnership is seen as timely in the context of current global supply challenges and heightened demand for antimony, a critical material in defense-related applications and international supply chains. Market sentiment is mixed. On the bullish side, the secured funding structure, exclusive off-take rights, and technical support help position the project to capitalize on strong, high-grade ore reserves and a rising demand context, particularly as geopolitical tensions drive up prices and spark interest in critical minerals. Conversely, the bearish perspective centers on the inherent risks associated with due diligence and regulatory approvals, the need for definitive agreements to bring the initiative to fruition, and potential delays or cost overruns that could disrupt the planned timeline for production and pilot plant development.