--- title: "40% Antimony at Surface, Drilling This Quarter | Red Mountain Mining (ASX:RMX)" description: "40% antimony at surface. Red Mountain Mining's (ASX:RMX) flagship Armidale Antimony-Gold Project in NSW begins its maiden drill program this quarter — 2,000m across up to 20 holes, targeting five priority anomalies. Wei Sim sits down with Nic Matich, Director of Corporate Development at Red Mountain Mining, to walk through the antimony thesis: the commodity, the projects, the jurisdictions, and the timing. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 📌 KEY TAKEAWAYS • Critical minerals explorer-developer, dual-listed ASX:RMX and OTCQB:RMXFF, capped under A$20M with over A$2M cash at end of quarter, focused on antimony-gold across Australia and the US • Four-pillar investment framework — commodity, projects, jurisdictions, timing — and Nic's case for why all four currently align for RMX • Antimony supply sits 85–90% with China, Russia and Tajikistan; classified by the US as a national security issue; end uses (armour-piercing rounds, semiconductors, night vision, infrared sensors, solar PV, fire retardants) are difficult to substitute • China's late-2024 export bans drove antimony ~6x to ~A$95,000/tonne. Controls have since been relaxed; per Nic's understanding, they will be reinstated in September • Armidale Antimony-Gold (NSW) — flagship on the Southern New England Orogen, the same province as Larvotto Resources' (ASX:LRV) Hillgrove, Australia's largest antimony deposit. Nearly 2,000 surface samples completed across 2025–26; results up to ~40% stibnite with 1g/t associated gold; multi-kilometre soil anomaly coincident in Au-As-Sb, five priority targets defined for the maiden drill program • Utah Antimony Project — acquired for proximity to American Tungsten & Antimony's (ASX:AT4) Antimony Canyon Project; claims overlie the same Flagstaff stratigraphy that hosts AT4's resource. Geophysics planned to map controlling N-S faults • Thompson Falls (the project Nic said he's \"most excited about\") — 4-5km from United States Antimony Corp's Stibnite Hill Mine, recently re-entered production, and proximal to UAMY's antimony oxide smelter. Initial fieldwork up to 37% Sb with 0.5g/t Au; three historical underground adits and one open pit; within the Coeur d'Alene district (~20% of US silver production / ~1.2 billion ounces historically) • Catalyst calendar — maiden Armidale drill program (~2,000m / ~20 holes, deepest 300m, on-site XRF) targeting end of this half / early next pending APO. IP survey trial at Oakey Creek South. US program ~6 months behind on winter; Thompson Falls field team mobilising in the coming weeks, then Utah drone + chargeability survey, then drill • Dr Max Baker (Newmont-era exploration manager, multi-million-oz discoveries) joined the advisory board ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ⏱ CHAPTERS 00:00 Welcome 00:48 Title slide — Red Mountain Mining 01:35 Company Overview 02:25 Strategic and Geopolitical Context 03:55 Market Performance and Capital Structure 04:55 Armidale Antimony-Gold Project 06:40 Utah Antimony Project 07:50 Thompson Falls Antimony Project 09:35 Yellow Pine (Idaho) 10:30 Project Exploration Timeline 11:35 Senior Management Team 12:50 Investment Summary 14:00 Q&A — Portfolio rationalisation 16:00 Q&A — Restructuring or antimony-and-gold? 16:40 Q&A — Antimony uses, supply-demand, price outlook 20:50 Q&A — Catalysts and share price 22:50 Q&A — Peer comparison and tenement strategy 24:05 Q&A — Drilling plan 24:45 Wrap ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 🦉 ABOUT HOMODEUS RESEARCH Homodeus Research is independent equity research focused exclusively on ASX small and mid-cap growth companies. Built for the agentic era — designed to be read by humans and AI alike. Distributed via Sharewise to 70,000+ retail, HNW and institutional investors. → Sign up: https://homodeus.one → Corporate inquiries: wei.sim@homodeus.one 🔔 SUBSCRIBE for more ASX SMID-cap management interviews and sector spotlights. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ⚠️ DISCLAIMER Prepared by Homodeus One Pty Ltd (ABN 83 696 272 116, CAR 1320577, AFSL 280420) for general informational purposes only. Not a solicitation to buy or sell any financial instrument, and not a research report as defined under ASIC guidance. For wholesale clients only, pursuant to s761G(7) of the Corporations Act. Companies mentioned: ASX:RMX, OTCQB:RMXFF. Other tickers referenced: ASX:LRV, ASX:AT4, NYSE:UAMY. Always do your own research. #ASX #SmallCaps #CriticalMinerals #Antimony #ASXMining #RMX #RedMountainMining #Investing #EquityResearch" canonical_url: "https://homodeus.one/research/videos/yyKoOVIH20g" markdown_url: "https://homodeus.one/research/videos/yyKoOVIH20g.md" published_date: "2026-05-10T23:31:47+00:00" modified_date: "2026-08-01T04:00:14.212Z" thumbnail_url: "https://i2.ytimg.com/vi/yyKoOVIH20g/hqdefault.jpg" embed_url: "https://www.youtube.com/embed/yyKoOVIH20g" source_url: "https://www.youtube.com/watch?v=yyKoOVIH20g" access: "full" source: "Homodeus Research" --- # 40% Antimony at Surface, Drilling This Quarter | Red Mountain Mining (ASX:RMX) Published 2026-05-10T23:31:47+00:00. 40% antimony at surface. Red Mountain Mining's (ASX:RMX) flagship Armidale Antimony-Gold Project in NSW begins its maiden drill program this quarter — 2,000m across up to 20 holes, targeting five priority anomalies. Wei Sim sits down with Nic Matich, Director of Corporate Development at Red Mountain Mining, to walk through the antimony thesis: the commodity, the projects, the jurisdictions, and the timing. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 📌 KEY TAKEAWAYS • Critical minerals explorer-developer, dual-listed ASX:RMX and OTCQB:RMXFF, capped under A$20M with over A$2M cash at end of quarter, focused on antimony-gold across Australia and the US • Four-pillar investment framework — commodity, projects, jurisdictions, timing — and Nic's case for why all four currently align for RMX • Antimony supply sits 85–90% with China, Russia and Tajikistan; classified by the US as a national security issue; end uses (armour-piercing rounds, semiconductors, night vision, infrared sensors, solar PV, fire retardants) are difficult to substitute • China's late-2024 export bans drove antimony ~6x to ~A$95,000/tonne. Controls have since been relaxed; per Nic's understanding, they will be reinstated in September • Armidale Antimony-Gold (NSW) — flagship on the Southern New England Orogen, the same province as Larvotto Resources' (ASX:LRV) Hillgrove, Australia's largest antimony deposit. Nearly 2,000 surface samples completed across 2025–26; results up to ~40% stibnite with 1g/t associated gold; multi-kilometre soil anomaly coincident in Au-As-Sb, five priority targets defined for the maiden drill program • Utah Antimony Project — acquired for proximity to American Tungsten & Antimony's (ASX:AT4) Antimony Canyon Project; claims overlie the same Flagstaff stratigraphy that hosts AT4's resource. Geophysics planned to map controlling N-S faults • Thompson Falls (the project Nic said he's "most excited about") — 4-5km from United States Antimony Corp's Stibnite Hill Mine, recently re-entered production, and proximal to UAMY's antimony oxide smelter. Initial fieldwork up to 37% Sb with 0.5g/t Au; three historical underground adits and one open pit; within the Coeur d'Alene district (~20% of US silver production / ~1.2 billion ounces historically) • Catalyst calendar — maiden Armidale drill program (~2,000m / ~20 holes, deepest 300m, on-site XRF) targeting end of this half / early next pending APO. IP survey trial at Oakey Creek South. US program ~6 months behind on winter; Thompson Falls field team mobilising in the coming weeks, then Utah drone + chargeability survey, then drill • Dr Max Baker (Newmont-era exploration manager, multi-million-oz discoveries) joined the advisory board ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ⏱ CHAPTERS 00:00 Welcome 00:48 Title slide — Red Mountain Mining 01:35 Company Overview 02:25 Strategic and Geopolitical Context 03:55 Market Performance and Capital Structure 04:55 Armidale Antimony-Gold Project 06:40 Utah Antimony Project 07:50 Thompson Falls Antimony Project 09:35 Yellow Pine (Idaho) 10:30 Project Exploration Timeline 11:35 Senior Management Team 12:50 Investment Summary 14:00 Q&A — Portfolio rationalisation 16:00 Q&A — Restructuring or antimony-and-gold? 16:40 Q&A — Antimony uses, supply-demand, price outlook 20:50 Q&A — Catalysts and share price 22:50 Q&A — Peer comparison and tenement strategy 24:05 Q&A — Drilling plan 24:45 Wrap ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 🦉 ABOUT HOMODEUS RESEARCH Homodeus Research is independent equity research focused exclusively on ASX small and mid-cap growth companies. Built for the agentic era — designed to be read by humans and AI alike. Distributed via Sharewise to 70,000+ retail, HNW and institutional investors. → Sign up: https://homodeus.one → Corporate inquiries: wei.sim@homodeus.one 🔔 SUBSCRIBE for more ASX SMID-cap management interviews and sector spotlights. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ⚠️ DISCLAIMER Prepared by Homodeus One Pty Ltd (ABN 83 696 272 116, CAR 1320577, AFSL 280420) for general informational purposes only. Not a solicitation to buy or sell any financial instrument, and not a research report as defined under ASIC guidance. For wholesale clients only, pursuant to s761G(7) of the Corporations Act. Companies mentioned: ASX:RMX, OTCQB:RMXFF. Other tickers referenced: ASX:LRV, ASX:AT4, NYSE:UAMY. Always do your own research. #ASX #SmallCaps #CriticalMinerals #Antimony #ASXMining #RMX #RedMountainMining #Investing #EquityResearch Watch: https://www.youtube.com/watch?v=yyKoOVIH20g