Locksley Commences Engineering Partner Selection Process for Its Desert Antimony Mine

Rhea-AI Summary

Locksley Resources (OTCQX: LKYRF) announced on December 11, 2025 that it has commenced an engineering partner selection process for a scoping pilot plant design at the Desert Antimony Mine following direct engagement with Tier 1 U.S. service providers.

The company said completion of a recent capital raise is allowing it to fast-track 2026 development initiatives, and that ongoing metallurgical optimization will feed the scoping study to support engineering design, economic evaluation and project planning. Locksley is advancing a mine-to-market strategy at its Mojave Project in California to help reestablish a domestic U.S. antimony supply chain.

Key Figures

Target year 2026 Referenced as the focus of fast-tracked initiatives after recent capital raise

Market Reality Check

$0.1450 Last Close

Volume Volume 200,787 is below the 20-day average of 294,661 (relative volume 0.68x). low

Technical Shares trade below the 200-day MA of 0.22, with price at 0.16585 pre-announcement.

Peers on Argus

No peers with momentum or same-day headlines were detected, indicating this update appeared stock-specific rather than part of a broader sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 24	Advisory appointment	Positive	-2.6%	Added Lockheed Martin materials leader as strategic advisor for U.S. strategy.
Nov 18	Metallurgical results	Positive	-8.2%	Reported high-grade antimony samples and strong recovery rates from testwork.
Nov 17	Research agreement	Positive	-4.8%	Sponsored research with Columbia University on sustainable critical metal processing.
Nov 13	Project update	Positive	+0.8%	Provided Desert Antimony Mine progress, targets, and permitting/drilling plans.
Nov 13	Sector overview	Positive	+0.8%	Highlighted antimony exploration metrics and sector policy backdrop for supply chains.

Pattern Detected

Recent positive strategic and technical updates have often seen negative short-term price reactions, with only some project updates aligning with the news tone.

Recent Company History

Over the last few weeks, Locksley has focused on building a U.S.-centric antimony and REE supply chain. On Nov 13, project updates for the Desert Antimony Mine and a sector-focused article both saw small positive moves of about 0.8%. However, a sponsored research agreement with Columbia University on Nov 17, high-grade metallurgical results disclosed on Sept. 22 (reported Nov 18), and a strategic advisory appointment on Nov 24 all drew negative reactions. Today’s engineering partner selection step fits the same mine-to-market build-out narrative.

Market Pulse Summary

The stock moved -6.6% in the session following this news. A negative reaction despite the incremental project progress would fit a pattern where prior positive technical and strategic updates drew short-term selling, including several events with declines following constructive news. With the share price at 0.16585 before this announcement and still far under the 0.5 52-week high, downside responses could reflect skepticism about timelines, capital intensity, or permitting rather than this specific engineering step, making follow-through on upcoming development milestones important to track.

Key Terms

engineering scoping pilot plant technical

"commenced the engineering partner selection process for the upcoming engineering scoping pilot plant design"

An engineering scoping pilot plant is a small, purpose-built test facility used early in a project to prove a manufacturing or processing method, collect real-world performance and cost data, and refine engineering plans before full-scale construction. For investors it acts like a prototype for a factory: it lowers technical and budget uncertainty, reveals likely production rates and operating costs, and helps decide whether the project is practical, how much capital is needed, and how long build-out and commercial production might take.

metallurgical optimization technical

"Our ongoing metallurgical optimization work will feed directly into the scoping study"

Metallurgical optimization is the process of improving how metals are extracted, processed and refined to increase yield, lower costs, reduce waste and meet quality or environmental standards. Think of it like tuning an engine to get more miles per gallon: small changes in technique or equipment can unlock more usable metal from the same ore and cut operating expenses. For investors, these gains can boost profit margins, raise production capacity, and reduce regulatory or environmental risks.

rare earth elements (REEs) technical

"The company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony."

Rare earth elements (REEs) are a group of 17 metallic elements used as specialized ingredients in many modern technologies — from smartphones and electric vehicles to wind turbines and defense systems. They matter to investors because their supply is limited and concentrated in a few countries, which can cause sharp price swings, create strategic risks for manufacturers, and influence the profitability and competitiveness of companies that rely on these materials.

antimony technical

"advance The Desert Antimony Mine project toward a fully integrated U.S. antimony supply chain."

Antimony is a metallic element used as an ingredient in alloys, flame retardants, batteries and some electronic components; think of it as a small but critical hardware part that improves strength, safety and performance in manufactured goods. Investors care because changes in supply, mining output or industrial demand can shift its price and affect companies that mine, process or rely on it—similar to how a shortage of a car part can slow auto production and raise costs.

mine-to-market strategy technical

"Locksley is executing a mine-to-market strategy for antimony, aimed at reestablishing domestic supply chains"

A mine-to-market strategy is when a company controls the whole chain from extracting raw minerals to processing, transporting and selling the finished product, similar to a farm that also bottles and sells its own juice. For investors this matters because it can boost profit margins, reduce reliance on outside suppliers, and change exposure to commodity prices and supply disruptions, while also concentrating operational and regulatory risks under one roof.

AI-generated analysis. Not financial advice.

SAN BERNARDINO, Calif., Dec. 11, 2025 /PRNewswire/ -- Locksley Resources Ltd. (ASX: LKY; OTCQX: LKYRF) announced the company has formally commenced the engineering partner selection process for the upcoming engineering scoping pilot plant design, following direct engagement with Tier 1 U.S. service providers. The move is part of the company's accelerated development program as they advance The Desert Antimony Mine project toward a fully integrated U.S. antimony supply chain. More information is available here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03036124-6A1302842&v=undefined.

"With the completion of our recent capital raise, we are fast tracking our 2026 initiatives. We have been engaging with leading U.S. engineering firms on an 'expression of interest' basis, said Kerrie Matthews, Managing Director and CEO of Locksley. She added that the strong response to this effort highlights confidence in Locksley's development strategy and confirms that the company expects access to the technical capability and local U.S. experience required to advance the project efficiently.

"Our ongoing metallurgical optimization work will feed directly into the scoping study, allowing engineering design, economic evaluation and project planning to progress without delay. This integrated execution strategy ensures the Desert Antimony Project advancement at an accelerated speed toward next stages of development," she confirmed.

Locksley Resources (https://www.locksleyresources.com.au) is focused on critical minerals in the U.S. The company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley is executing a mine-to-market strategy for antimony, aimed at reestablishing domestic supply chains for critical materials, underpinned by strategic downstream technology partnerships with leading U.S. research institutions and industry partners. This targeted approach, combined with resource development with innovative processing and separation technologies, positions Locksley to play a key role in advancing U.S. critical materials independence.

Contact: Beverly Jedynak, beverly.jedynak@viriathus.com; 312-943-1123; 773-350-5793 (cell)

View original content:https://www.prnewswire.com/news-releases/locksley-commences-engineering-partner-selection-process-for-its-desert-antimony-mine-302638676.html

SOURCE Locksley Resources

FAQ

What did Locksley announce on December 11, 2025 about the Desert Antimony Mine (LKYRF)?

Locksley announced it has started an engineering partner selection process for a scoping pilot plant design and has engaged Tier 1 U.S. service providers.

How does the recent capital raise affect Locksley Resources (LKYRF) plans?

The company said the capital raise allows it to fast-track 2026 initiatives including engineering scoping and project planning.

What role will metallurgical work play in Locksley’s scoping study for LKYRF?

Ongoing metallurgical optimization will directly feed the scoping study to support engineering design and economic evaluation.

What is Locksley’s broader strategy for antimony at the Mojave Project (LKYRF)?

Locksley is pursuing a mine-to-market strategy aimed at reestablishing a domestic U.S. antimony supply chain with downstream technology partners.

Will Locksley use U.S.-based engineering firms for the Desert Antimony Project (LKYRF)?

Yes; the company has engaged leading U.S. engineering firms on an expression of interest basis and is evaluating Tier 1 providers.