Core Viewpoint - The recent surge in the stock price of Meiyan Jixiang is attributed to the acceptance of its resource reserve assessment application for the Songxi antimony-silver mine by the Ministry of Natural Resources, despite the company's ongoing financial losses [2][3][4]. Company Summary - Meiyan Jixiang's stock experienced three trading limit increases from November 26 to December 1, with a cumulative increase of 24.68% during this period, while the Shanghai Composite Index only rose by 1.29% [3]. - The company announced on November 26 that its wholly-owned subsidiary, Meiyan Mining, received a notice of acceptance for its resource reserve verification report for the Songxi antimony-silver mine, which has a mining right valid until 2032 [3][4]. - The company has completed 108 drilling holes for field exploration, with the quality of work rated as "excellent" by an expert group [3][4]. - Despite the positive news regarding the mine, Meiyan Jixiang has reported significant financial losses, with a net loss of 100 million yuan in 2023 and an expected loss of 82.82 million yuan in 2024 [4]. Industry Summary - The antimony market is gaining attention due to its unique properties and wide application prospects, with a report indicating that global antimony resource reserves are expected to grow by 1.4% in 2024, reaching 2.201 million tons [5]. - China holds the largest share of global antimony reserves at 670,000 tons, accounting for 30.4% of the total [5]. - The antimony supply is projected to decrease, with a forecasted global production of 104,000 tons in 2024, a 2% decline year-on-year, while demand is expected to grow at a compound annual growth rate (CAGR) of 11% from 2024 to 2027 [5]. - The anticipated supply-demand mismatch is expected to create a significant supply gap, projected to reach 28,000 tons in 2024 and potentially expand to 95,000 tons by 2027 [5].