Locksley Resources Ltd Receives Up to US$191 Million in Potential EXIM Funding for California Antimony Project
Australian exploration and mining services firm Locksley Resources Limited (ASX: LKY) announced on 3 November 2025 that it has secured a Letter of Interest (LOI) from the U.S. Export‑Import Bank (EXIM). The LOI indicates that the bank may provide up to US$191 million in project financing to support the company’s Mojave antimony project in California, a key development in the U.S. critical‑minerals supply chain.
The Significance of the Mojave Project
The Mojave Project is Locksley’s flagship antimony venture. Antimony, a metal essential for flame retardants, battery technology, and other critical applications, is classified by the U.S. government as a strategic resource. By aligning its operations with the priorities of the U.S. critical‑minerals agenda, Locksley positions itself to benefit from government‑backed financing and potential market advantages.
The company’s focus on antimony follows its broader expertise in copper projects and exploration services. While copper remains a staple of Locksley’s portfolio, the recent interest in antimony underscores a diversification strategy that taps into high‑value, high‑demand minerals.
The Role of the Export‑Import Bank
EXIM, the U.S. government’s export‑finance agency, routinely supports foreign companies that contribute to the United States’ critical‑minerals supply chain. The LOI’s potential financing of US$191 million is noteworthy because it reflects EXIM’s willingness to back a non‑U.S. firm that can accelerate the domestic production of a strategic mineral.
If the financing materialises, it will:
- Provide working capital for the exploration, development, and production phases of the Mojave Project.
- Enhance supply security for U.S. industries reliant on antimony, thereby aligning with national security objectives.
- Strengthen Locksley’s financial position, reducing reliance on equity markets and potentially improving credit terms for future projects.
Market Reactions and Company Outlook
The announcement was reported by multiple outlets, including Northern Miner, Mining.com, Azomining, Thailand Business News, and SMH. Each highlighted the magnitude of the potential funding and its alignment with U.S. critical‑minerals policy.
Locksley’s stock, which traded at AUD 0.345 on 30 October 2025, has experienced significant volatility over the past year. The company’s market cap of approximately AUD 95.4 million and a negative price‑earnings ratio of –52.51 reflect the high-risk, high‑potential nature of its ventures. Nonetheless, the EXIM LOI provides a tangible boost to investor confidence, suggesting that the firm’s strategic positioning may soon yield financial returns.
Company Profile
| Item | Detail |
|---|---|
| Sector | Materials |
| Primary Exchange | ASX All Markets |
| Currency | AUD |
| Market Cap | AUD 95.39 million |
| Price | AUD 0.345 (30 Oct 2025) |
| 52‑Week High | AUD 0.69 (21 Sep 2025) |
| 52‑Week Low | AUD 0.014 (9 Jan 2025) |
| Description | Australian exploration and mining services provider with a focus on copper and antimony projects; serves a global customer base. |
| Website | www.locksleyresources.com.au |
Conclusion
The potential US$191 million backing from the U.S. EXIM Bank marks a pivotal moment for Locksley Resources Ltd. It signals both governmental confidence in the company’s Mojave antimony project and an opportunity for Locksley to accelerate its contribution to the United States’ critical‑minerals supply chain. While the LOI does not guarantee financing, it offers a clear pathway for the company to secure the necessary capital, potentially altering its market trajectory and reinforcing its role as a key player in the global materials sector.
