EV Resources Secures A$1.5 million Funding and Management Shift for Mexican Antimony Project

EV Resources Limited (ASX: EVR) announced a A$1.52 million non‑renounceable rights issue, with the first A$1 million underwritten by Indian Ocean Securities. The raise includes a 10:1 share consolidation pending shareholder approval. Proceeds will fund the company’s antimony production plans in Mexico, including proof‑of‑concept work and staged circuit commissioning at the Tecomatlán processing plant, development of the Los Lirios project, and securing 200 tonnes of high‑grade ore from the Chinantla mine.

Alongside the capital raise, EV Resources implemented a management restructure. Managing Director and CEO Mike Brown resigned; chair Shane Menere assumed the role of executive chair, and Miguel Barahona was appointed interim CEO. The changes aim to strengthen the balance sheet and position the company for near‑term antimony output.

The funding and leadership moves are intended to accelerate EVR’s transition to a near‑term antimony producer and improve its appeal to institutional investors.