Bindi Metals (ASX:BIM) announces acquisition of high grade antimony projects in Serbia

Bindi Metals Limited (ASX:BIM) has announced the acquisition of the Lisa Antimony-Gold Project and the Mutnica Antimony-Copper Project in Serbia, Europe. The projects boast historical high-grade antimony mines with reported mined grade of 5% to 20% antimony and elevated copper and other base metals. The acquisition aligns with Bindi's focus to secure essential mineral resources, particularly in light of growing supply chain vulnerabilities for critical metals in Europe.

Chairman's Comments on Acquisition and Market Significance

Bindi Metals Chairman, Eddie King, expressed excitement about the acquisition, highlighting the historical high-grade antimony mining within the Lisa permit and the high grades of antimony present at Mutnica. He emphasized the strategic importance of these acquisitions in assisting Europe to address supply chain vulnerabilities for critical metals, particularly antimony, which plays a critical role in defense and renewable energy technologies.

Outlook and Capital Raising

The acquisition of the Lisa Antimony-Gold Project and the Mutnica Antimony-Copper Project positions Bindi Metals to tap into the high-grade antimony and copper potential in Serbia. The projects' strategic location near major European markets, coupled with the recent export ban on antimony by China, underscores the significance of these acquisitions. The firm commitments received for an oversubscribed Placement to raise $2,000,000 will enable Bindi Metals to fund drilling and exploration at the acquired projects, as well as on its existing projects, and for general working capital. The upcoming work programs include historical data compilation, geophysical imagery analysis, and planning of a drill program to satisfy the expenditure commitments on Mutnica by November. The Company's focus on securing essential mineral resources and the potential of the acquired projects position Bindi Metals for future growth and contribution to Europe's supply chain resilience for critical metals.