LOI for Antimony Properties Send Shares Higher

By: Dylan Sikes – AllPennyStocks.com News

Monday, October 7, 2024

Antimony—not well-known, but yet a critical component for battery technology, advanced military systems, and other industrial applications, and one in high demand globally. The semi-metal is recognized by the United States and the European Union, and much of the world's antimony reserves are concentrated in China, Russia, and Tajikistan. And this firm sees an opportunity to enhance Western access to this essential resource.

Military Metals Corp. (CSE: MILI) (OTC Pink: MILIF) announced in a press release today that it has signed a binding Letter of Intent (LOI) to acquire 100% ownership of 1458205 B.C. Ltd., a private company holding three brownfield projects in Slovakia. This acquisition includes two antimony-focused properties and one tin project, all located within the European Union.

These assets include the Trojarova Antimony Project and the Medvedi Tin Project, both of which contain historical resources dating back to the Soviet era. As part of the transaction, Military Metals will issue 10 million common shares, valued at CAD $5.6 million, to the shareholders of target. Military Metals is looking to finalize a definitive agreement and close the acquisition by October 2024.

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