EV Resources jags profit from US antimony project sale

Sydney Morning Herald

19-05-2025

EV Resources has pulled a quick profit from offloading its recently purchased Coyote Creek antimony project in the US state of Utah, which the company acquired for less than $150,000 in cash and company shares.
The sale to ASX-listed Trigg Minerals will see EV pull in cash and shares worth $450,000.
The sale price of $225,000 in cash and $225,000 in Trigg shares provides EV with continued exposure to the project through its newly acquired shareholding in Trigg.
EV has agreed to sell its 100 per cent owned subsidiary company Monomatapa Investments, which holds 49 unpatented claims over the 980-acre Coyote Creek project.
The $225,000 parcel of Trigg shares will be issued at the completion of the sale, based on the 15-day volume-weighted average price of the shares immediately prior to the date of the transaction announcement.
A further $450,000 in cash or Trigg shares, at Trigg's election, are to be issued to EV on a JORC compliant resource estimate being delivered within four years from transaction completion, expected to occur 20 days after executing the agreement.
The deemed share issue price will be the greater of the 15-day VWAP of Trigg shares or 3 cents.
EV Resources instigated its purchase of Coyote Creek in April by issuing $125,000 of its shares and refunding fees paid to the Bureau of Land Management and the local Garfield county by the investor, totalling about US$16,000 (A$25,000).
The company says it remains committed to its Americas-focussed antimony strategy, incorporating open pit mining opportunities, with its Trigg shareholding and its proposed acquisition of 70 per cent of the Los Lirios open pit antimony mine in Oaxaca state in southern Mexico.