EV Resources Limited (ASX:EVR) has announced the successful completion of its pro-rata entitlement issue, raising A$1.52 million (before costs). The capital injection positions the critical minerals exploration and development company, focused on securing the North American antimony supply chain and rapidly transitioning to a near-term producer, to significantly advance production at its Tecomatlán Processing Plant in Puebla, Mexico. All shortfall shares and options from the Rights Issue, first announced on 20 July 2026, have now been issued.
The raised funds are directly earmarked for the Tecomatlán production-capable proof-of-concept campaign and staged circuit commissioning. In a crucial step towards securing feedstock, EVR has acquired high-grade Vinatas antimony ore, complementing an existing 200-tonne stockpile from Chinantla. Recent metallurgical testwork confirmed the suitability of both sources, with Vinatas achieving up to 78.6% crushing recovery and a 68.3% antimony concentrate, while Chinantla showed approximately 81.1% recovery, both compatible with the Tecomatlán circuit.
Operational progress is well underway, with the first load testing of the crushing circuit completed using antimony ore, and crushing and screening now commenced at the Tecomatlán facility. Concurrently, EV Resources is engaged in positive discussions with prospective purchasers and off-takers for its high-grade antimony concentrate. This commercial interest, coupled with the commencement of processing, marks a pivotal point in EVR’s transition from developer to producer, strengthening its platform for near-term cash flow and its objective of becoming a significant antimony concentrate supplier.
