Zeus Resources Advances Acquisition of High-Grade Casablanca Antimony Project

Zeus Advances Towards Final Acquisition of High-Grade Antimony Project

Zeus Resources Limited (ASX: ZEU) has secured a 14-day extension for its acquisition of the Casablanca Antimony Project in Morocco, pushing the completion deadline to 8 July 2025. This second extension follows an earlier 30-day extension and provides additional time to finalise third-party approvals, particularly the formal transfer of exploration licences.

The company has already satisfied most conditions for the acquisition, including:

• Successful completion of technical and legal due diligence
• Receipt of all necessary regulatory approvals under ASX Listing Rules
• Securing shareholder approval for consideration shares and performance rights
• Payment of required stamp duty for licence transfers

The final hurdle remains the formal transfer of six exploration licences from Ashgill Morocco Ltd to Zeus Resources, which is currently in its final phase with the Moroccan Minister of Energy Transition and Sustainable Development.

Understanding Antimony: A Critical Metal with Growing Demand

Antimony is classified as a critical mineral due to its essential applications and supply risks. This semi-metal is primarily used in flame retardants, battery technology, and as a hardening agent in lead alloys for ammunition and electronics.

The metal has gained strategic importance in recent years due to:

• Limited global production concentrated in China (approximately 53% of global output)
• Growing demand in energy storage applications, particularly liquid metal batteries
• Use in semiconductor manufacturing and emerging technology applications
• Increasing recognition as a critical material by major economies including the US and EU

For investors, antimony represents exposure to both traditional industrial applications and emerging technology markets, potentially offering a compelling supply-demand dynamic as new uses develop alongside constrained production.

Properties and Applications of Antimony

Antimony (chemical symbol Sb) is a silvery-white, brittle semi-metal with a relatively low melting point of 630.5°C. Its unique properties make it valuable across numerous applications:

Flame Retardants: Antimony trioxide is the largest single use of antimony, functioning as a synergist in halogenated flame retardants. These compounds are used in plastics, textiles, and coatings to prevent or slow the spread of fire.

Lead-Acid Batteries: Antimony is used to harden lead in battery grids, improving mechanical strength and electrical properties. While many modern batteries have reduced antimony content, it remains important for specific applications requiring durability.

Alloys: Antimony creates harder, stronger alloys when combined with other metals. These alloys are used in bearings, type metal, and solder.

Electronics and Semiconductors: Antimony compounds are used in the production of semiconductors, infrared detectors, and diodes. Antimony-doped silicon is important in microelectronics.

Glass and Ceramics: Antimony oxide serves as a fining agent in glassmaking, removing bubbles and improving clarity. It is also used as an opacifier in ceramic glazes.

Emerging Energy Applications: Research is advancing on antimony's potential in next-generation energy storage, including liquid metal batteries that could provide grid-scale storage solutions.

This combination of established and emerging applications makes antimony strategically important across multiple industries.

Exceptional Grade Results Highlight Project Potential

The Casablanca Antimony Project has already demonstrated remarkable potential through preliminary sampling. In April 2025, Zeus announced rock chip samples containing 46% and 40% antimony content – exceptionally high-grade results that position the project favourably against global benchmarks.

These initial high-grade results suggest the Casablanca Antimony Project could represent a significant antimony resource, particularly valuable given the metal's critical status and concentrated global supply.

Director Insight:
"The exceptional grades we're seeing at Casablanca are rare in global antimony exploration. With samples showing up to 46% antimony content, we believe this project has the potential to become a strategically important source of this critical mineral outside the dominant Chinese supply chain."

Transaction Timeline and Next Steps

Zeus Resources has methodically progressed through the acquisition process:

1. 7 March 2025: Initial agreement signed with $25,000 payment for a 45-day exclusive option
2. 1 May 2025: First 30-day extension secured to 24 June 2025
3. 24 June 2025: Second 14-day extension secured to 8 July 2025
4. Current Status: Awaiting final licence transfers from Moroccan authorities
5. Next Steps: Complete acquisition and commence formal exploration programme

Upon completion, Zeus will hold a 100% legal and beneficial interest in the Casablanca Antimony Project, positioning the company to advance development of this high-grade resource.

Strategic Significance of Morocco for Critical Minerals

Morocco represents an increasingly attractive jurisdiction for mining investment, particularly for critical minerals:

• Strategic location providing access to European and North American markets
• Established mining code and developing infrastructure
• Growing focus on critical minerals development
• Relative political stability compared to other mining jurisdictions in the region

For Zeus Resources, the Moroccan location provides potential logistical advantages for future development, particularly given antimony's designation as a critical mineral in major markets that are seeking supply chain diversification away from Chinese production.

Morocco's Mining Sector

Morocco has a long history of mining, with the sector contributing approximately 10% to the country's GDP. The country is the world's largest phosphate producer and a significant producer of various metals including zinc, lead, copper, and cobalt.

The Moroccan government has implemented several reforms to modernise its mining sector and attract foreign investment:

• The Mining Code of 2015 replaced legislation dating from 1951, introducing more transparent permitting processes
• Streamlined procedures for obtaining exploration and mining permits
• Tax incentives for mining companies, including exemptions during exploration phases
• Improved legal framework for foreign investment protection

These reforms, coupled with Morocco's strategic location with access to European markets, make it an increasingly attractive destination for mining investment.

Why Investors Should Monitor Zeus Resources

Zeus Resources presents several compelling factors for investor consideration:

1. Critical Mineral Exposure: Direct exposure to antimony, a critical mineral with both traditional industrial and emerging technology applications

2. Exceptional Grades: Preliminary sampling showing grades of up to 46% antimony, significantly above typical global averages

3. Strategic Jurisdiction: Project located in Morocco, offering stable mining regulations and strategic access to European markets

4. Clear Path to Ownership: Methodical progress through acquisition conditions with only final licence transfers remaining

5. Potential Supply Chain Significance: Opportunity to develop a significant non-Chinese antimony resource at a time when supply chain security is increasingly prioritised

As critical mineral security becomes increasingly important globally, Zeus Resources' strategic move to acquire the high-grade Casablanca Antimony Project positions the company to potentially benefit from growing demand for secure, non-Chinese antimony supply.

Global Antimony Market Dynamics

The global antimony market presents a distinctive supply-demand structure that may benefit new entrants with high-quality resources. Current market dynamics include:

Supply Concentration: China dominates global antimony production, accounting for approximately 53% of world supply. Other significant producers include Russia, Tajikistan, and Myanmar, though at much smaller scales.

Production Constraints: Global antimony production has faced challenges, with some major mines experiencing declining grades and increasing production costs. Environmental regulations in China have also restricted some antimony processing operations.

Price Trends: Antimony prices have shown volatility but maintain a generally upward trajectory due to supply constraints and growing industrial demand. Current prices range between $11,000-$13,000 per tonne for standard grade antimony metal.

Strategic Stockpiling: Several countries, including the United States, have designated antimony as a critical mineral and begun strategic stockpiling programmes, potentially providing additional demand sources.

Market Growth Projections: The global antimony market is projected to grow at a CAGR of approximately 6.2% through 2030, driven by traditional applications and emerging technologies.

For Zeus Resources, these market dynamics potentially create a favourable environment for developing a new, high-grade antimony resource outside the dominant Chinese supply chain.

Investors can contact director Robert Marusco on 0412 593 363 or Hugh Pilgrim on 0449 581 256 for further information about the Casablanca Antimony Project and Zeus Resources' development plans.

Want to Invest in High-Grade Antimony Outside China's Dominance?

Discover how Zeus Resources (ASX: ZEU) is positioning to capture the growing critical minerals market with its exceptional Casablanca Antimony Project featuring remarkable grades of up to 46%. As global demand rises and supply chain security becomes increasingly vital, Zeus offers a compelling investment opportunity in the antimony space. For comprehensive information about this strategic acquisition and to stay updated on Zeus's progress toward finalising this potentially transformative project, visit the Zeus Resources website today.