EV Resources Ltd. (EVR) has signed a restructured agreement to secure the Tecomatlán antimony processing plant in Mexico, marking another milestone in the company’s transition from explorer to near-term producer.
The move establishes a capital-efficient pathway to near-term antimony production. By shifting from a traditional acquisition model to a performance-aligned structure.
The new agreement replaces upfront capital heavy commitments with a disciplined, milestone-based framework.
Under the terms, capital is deployed only as tangible value is realised, with payments directly linked to the delivery of soil use permits and final flotation approvals.
EVR CEO Mike Brown said the agreement has significantly de-risked the Tecomatlán acquisition.
“We are no longer just paying for a lease; we are paying for results,” the CEO said.
“This agreement ensures that our capital is deployed in lockstep with the delivery of the soil use permits and final flotation approval, providing a clear, incentivised path to first antimony production.”
With site access already secured, refurbishment of the plant is officially underway. The facility is being upgraded to align with EVR’s processing strategy, which leverages high-grade feed from the company’s flagship Los Lirios project and other regional sources.
Metallurgical tests have already yielded impressive results, boasting recoveries of 90.8 per cent. This high efficiency supports robust project economics and confirms the plant’s suitability for rapid commissioning.
The hub model adopted by EVR is designed for scalability, allowing for early cash flow while providing the flexibility to expand as regional throughput increases.
The timing of the expansion is critical. Antimony is increasingly sought after for its essential role in defence applications, energy storage, and high-tech industries.
With global supply chains under pressure, EVR is positioning itself as a reliable supplier for North America and allied markets.
With the production pathway now established, EVR is now entering a period of high activity, including ongoing plant refurbishment, continued advancement of permitting milestones and expected drilling results from Los Lirios.
