Hertz Energy Acquires Lake George Antimony Property in New Brunswick

Core Viewpoint - Hertz Energy Inc. has acquired the Lake George Antimony Property in New Brunswick, which is an exploration-stage antimony-gold prospect located near the historical Lake George Mine, previously the largest antimony producer in North America [2][4]. Company Summary - The Lake George Antimony Property consists of 93 mineral claims covering approximately 2,104.5 hectares, located about 30 km southwest of Fredericton [3][6]. - The property surrounds the past-producing Lake George Mine and is strategically positioned along favorable geological formations, which may enhance exploration potential [3][5]. - Hertz Energy has acquired a 100% interest in the mining claims with no underlying agreements or royalties attached [6]. Industry Context - Antimony prices have surged to a record $22,750 per tonne, nearly doubling since the start of the year, driven by a global supply deficit and reduced exports from major producers, particularly China [12][13]. - China's recent export restrictions on antimony, effective September 15, 2024, are expected to significantly impact the global antimony supply chain, further increasing demand and prices [12][15]. - Antimony is classified as a critical mineral by the U.S. Department of the Interior due to its applications in military and industrial sectors, including flame retardants, solar panels, and batteries [12][15].