Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Military Metals (CSE: MILI) plans to purchase a former antimony mine in Nova Scotia. The agreement covers a series of mineral claims referred to as West Gore, where historical drilling returned grades as high as 10.6 g/t gold and 3.4% antimony over 7.1 metres.
“Antimony has experienced a recent price increase primarily due to supply constraints, including China imposing export restrictions,” Military Metals CEO Scott Eldridge said in a news release.
“Numerous countries have included antimony on their critical metals list given its strategic importance to military activity, in addition to consumption in fire retardants, solar energy and nuclear power plants,” he added.
The West Gore mine was in production from 1882 to 1939. The project consists of four exploration licences covering 585 hectares in Nova Scotia. The property includes an underground mine and stockpiles of mineralized antimony and gold byproducts.
