On July 2, Europe Paid $23,000 A Tonne For Antimony. China Paid $15,940.

The split

In September 2024 the price of antimony stopped being one number.

Before that there was a world price. Traders quoted it, smelters bought against it, and Rotterdam and Changsha were arguing over a few percent.¹

Then China's export licensing tightened and the two halves came apart.¹

They haven't come back together since.

A European buyer can still get antimony. He just has to pay a premium to get it from somewhere that isn't licensed out of Beijing, or wait on a licence that may or may not come.

That premium isn't a spread a trader arbitrages away. It's the cost of a second supply chain that mostly doesn't exist yet.

That is the market this property woke up into.

The scale

Roughly four tonnes in five come out of one country.

China mines about 80% of the world's antimony.²

There's no second supplier of that size, and no swing producer sitting on spare capacity waiting for the price to move.

Antimony goes into ammunition primers, flame retardants, lead-acid batteries, glass and ceramics.³ It's in a fire door and a car battery.

The US Geological Survey records that in 2023 the United States mined no marketable antimony at all.³

A metal you have never thought about, sourced from one place.

The hole in the map

Canada calls antimony critical. Canada mines almost none of it.

Antimony went on Canada's critical minerals list in 2021 and stayed on it through the 2024 review.⁴

The test for that list runs two ways. The supply chain has to be threatened, and Canada has to have a reasonable chance of producing the mineral itself.⁴

Between 1998 and 2023 Canada ranked ninth in the world for mined antimony. Its significant deposits no longer contribute much of anything.²

Read those last two together.

Canada listed the metal partly on the grounds that Canada could produce it. Then it didn't.

Nobody builds a mine for a metal worth a dollar a pound. The ground that might host one gets staked for something else and dropped, which is roughly the history of Bittercreek.

That's the gap the list was written to describe. A metal the country calls critical, with almost no domestic production standing behind the word.

Somebody has to be first back in.

The door

Three dates run this market. Beijing set all three.

1. September 2024export licensing slows shipments and the world price splits in two.¹
2. November 9, 2025China's Ministry of Commerce suspends the ban on antimony exports to the United States.⁵
3. November 27, 2026the suspension expires⁵

You can put that one in a calendar.

The buyer's problem

So what does a buyer in Rotterdam do on November 28?

He has known the date for a year. He has been paying the premium the whole time.¹

Both benchmarks have come off the 2025 peak for two months running, and the split between them held anyway.¹

The panic went out of the price. The structure stayed.

Panic prices bring out sellers, because for a month everyone with a warehouse is a supplier.

A split that outlives the panic brings out a different buyer: the one who's stopped trying to time it and started trying to source it.

A price spike brings out sellers. A split that survives the spike brings out buyers who want a different address to buy from.

We are an address.

Our ground

We hold a claim block in southeast Yukon with high-grade antimony already in the file.

We're Acme Demo Mining Inc. (DEMO: ACME).⁶ We hold the Bittercreek claim block, staked by Rampart Creek Resources Ltd. in 1985 and drilled in 1987.⁷

They were chasing gold. They found stibnite, which is the mineral antimony comes out of,⁸ and at a dollar a pound they wrote it off and moved on.⁷

Four of the nine holes cut antimony over 1%, the best of them 6.2 metres at 5.1% antimony.⁷ The core has been sitting in Watson Lake ever since.

Those are historic results. No Qualified Person has verified them, there's no current mineral resource, and continuity between the holes has never been demonstrated.⁷

Claim outlines, neighbouring holders, the drainage and the 1987 collars are all invented. The target outline is drawn around two holes; it is not a resource, a zone, or a measured extent of anything.

Why we could move

We optioned it in October 2025, financed it in February 2026, and had rigs turning by late May.

C$4.6 million raised, 38.4 million shares out, insiders holding 22%, no debt.⁶

Cash on hand is C$3.4 million against a market capitalisation of C$2.9 million.⁶

Two rigs are on the property now, fully funded out of the February raise, with first assays due in September.⁶

The metal moved in 2024. We were on the ground by 2026. Most of this sector is still writing memos.

That isn't clairvoyance. The 1987 file was public, the pulps were in storage, and the price had already done the work.⁶

What it took was being willing to option a property everyone else had written off, at a price that reflected how thoroughly they'd written it off.⁶

The ledger

Set the two prices side by side.

$23,000 in Europe. $15,940 in China. Same tonne, same day.¹

A Western buyer faced those two prices on opposite sides of China's licensing regime.

No current drilling has demonstrated a tonne at Bittercreek.

We're telling you what the metal is worth and admitting we haven't proved we have any. Both of those are on this page on purpose.

Why now

Our program finishes before Beijing's clock does.

The suspension expires November 27, 2026.⁵

Our summer program at Bittercreek finishes before it does.⁷

We didn't set that date and we can't move it. We can be standing somewhere useful when it arrives.

If the twin holes come back at the 1987 grades, we'll say so. If they don't, we'll say that too, and this page will be wrong in public.⁶

Either way you'll know before November.

If the twin holes come back at the 1987 grades, we'll say so. If they don't, we'll say that too, and this page will be wrong in public.

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