Wogen–EV Resources Antimony Deal Secures Offtake and Early-Stage Funding

EV Resources mine

The Wogen–EV Resources antimony deal advances Los Lirios in Mexico with secured debt. The Wogen–EV Resources antimony deal grants exclusive offtake rights, subject to studies. Therefore, the Wogen–EV Resources antimony deal de-risks early development and aligns financing with marketing.

Structured funding and conditional offtake accelerate timelines

Wogen and partner Xcelsior will arrange $2–3mn in secured debt. The facility funds scoping, site work, and a 100 t/d pilot plant. In exchange, Wogen receives exclusive offtake, pending a positive internal study. EV Resources will process Los Lirios ore and third-party feed. As a result, the project gains cash flow optionality before full-scale build.

Project scope, processing path, and strategic precedents

Los Lirios spans 1,552 hectares with historic pits and workings. The site lacks processing infrastructure after selective high-grade mining. The pilot emphasizes gravity recovery for antimony concentrates. Downstream processing remains a stated goal with Wogen support. Wogen’s Hillgrove precedent shows its offtake-plus-loan model. That 2024 deal provided $4mn for seven years of offtake.

The Metalnomist Commentary

Early debt tied to offtake can bridge juniors to feasibility. Execution now turns on pilot recoveries, permitting, and stable third-party ore. Watch grade control, arsenic levels, and logistics from Oaxaca to export terminals.