Shares of ECR Minerals PLC (AIM:ECR) surged 33% following the announcement of promising test results for antimony from previous drilling at Bailieston in central Victoria, Australia.
The company submitted 44 samples for multi-element testing, with notable results including 0.3m grading 32% antimony and 0.1m grading 1.20%. Twelve samples returned results greater than 0.1%.
Called the element that reinvents itself, antimony is used in the semiconductor industry, while its compounds have been developed to make flame-retardant materials, paints, enamels, glass and pottery.
It is classified as a critical mineral by the Australian Government and other major economies, with prices hitting record highs of approximately $18,000 per tonne in 2024.
The Bailieston Goldfield is part of the Costerfield-Nagambie Geological Zone, known for its Antimony deposits.
In early trading, the stock was up 0.093p at 0.38p.