Partners, EV Resources, Ink Sign MOU with Wogen and XCLR for Financing and Progression of Los Lirios Antimony Venture
The mining sector witnessed a significant development as EV Resources Limited (ASX: EVR) announced a strategic partnership with Wogen Resources Ltd and Xcelsior Capital Advisors Ltd. The tri-party agreement, established through a Memorandum of Understanding (MOU), aims to propel EVR's Los Lirios Antimony Project in Oaxaca, Mexico, towards production.
The partnership's core focus areas include funding, offtake rights, and technical and market support. Wogen and Xcelsior have proposed a secured debt facility of US$2–3 million to support the project's development and move it closer to production, subject to definitive agreements.
Wogen is granted exclusive rights to offtake (purchase) antimony products from Los Lirios, contingent upon positive internal scoping studies and definitive agreements. Simultaneously, both Wogen and Xcelsior will provide EVR with technical expertise and market intelligence to help develop product specifications, pricing, and marketing strategies for the antimony products.
This partnership is a significant step towards underpinning the development of a 100 tonne-per-day antimony processing plant expected to treat ore from Los Lirios and third-party sources. It aligns with EVR’s strategic goal of establishing a reliable antimony supply chain, particularly important given increasing demand driven by geopolitical tensions and decreasing military stockpiles. The collaboration also supports downstream processing initiatives and broader exploration efforts at Los Lirios.
Xcelsior Capital Advisors Ltd, renowned for providing financing solutions to critical minerals and metals producers, is also a partner in this strategic alliance. While Xcelsior is not involved in the downstream processing of the Los Lirios product, it contributes to the partnership by offering technical input and market intelligence for product development, pricing, and marketing strategies, similar to Wogen.
This partnership marks a significant milestone in EVR’s journey towards a sustainable and reliable antimony supply chain, bolstered by strong market and operational support systems.
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