The Antimony Anchor: Hallgarten & Co. Validates the Military Metals' Trojarova Thesis

If you’ve been reading Juniorstocks.com, the name Military Metals Corp. (CSE: MILI | OTCQB: MILIF) likely rings a bell. We’ve covered their maneuvering in the critical minerals space before, noting that while the market chased lithium, they were quietly securing antimony, a metal that defense contractors lose sleep over.

Now, it seems the institutional world is catching up.

In a newly released initiation of coverage, Christopher Ecclestone, the veteran strategist at Hallgarten & Company, has cast a spotlight on Military Metals and its flagship Trojarova Antimony-Gold Project. While the rest of the mining world is busy tripping over itself for copper, Military Metals is cornering the market on a metal that the defense and green energy sectors literally cannot live without. For those who haven’t been keeping tabs on the periodic table, antimony is the "quiet" critical mineral currently causing loud headaches in Brussels and Washington due to its scarcity and its necessity in everything from armor-piercing ammunition to high-capacity liquid metal batteries.

A North American Safety Net

While the current spotlight is on Slovakia, it’s worth noting that Military Metals isn’t putting all its eggs in one European basket. The company is actively building a trans-Atlantic fortress of strategic assets.

Late last month, they identified a significant 800-meter antimony anomaly at their "Last Chance" project in Nevada, planting a flag in the US. But the safety net extends further north: Military Metals is also reawakening the West Gore Antimony-Gold Project in Nova Scotia, Canada. As a past-producing mine that once supplied the British Empire during WWI, West Gore adds a layer of historical high-grade proof to the portfolio. By securing assets in the EU, the US, and Canada, they are effectively hedging their geopolitical bets and offering investors exposure to every major Western power currently desperate to decouple its defense supply chain from China.

High-Grade Reality

What makes this particular initiation so compelling isn't just the geopolitical timing; it is the sheer grade of the results coming out of the Slovakian soil. Hallgarten’s analysis dives deep into the 2025/2026 drilling campaign, which effectively turned a theoretical historical resource into a potentially tangible powerhouse.

The drill bit has delivered a one-two punch in recent weeks. First, hole 25-TVA-001 confirmed the project's primary thesis, cutting a massive 23.2 meters of 2.22% Antimony (including 7.9 meters of 4.9%).

Then came the surprise. Hole 25-TVA-003 set the market buzzing by proving this isn't just an industrial metal play. It pulled up 23.5 meters of 3.3 g/t Gold, highlighted by a spectacular 4.0-meter interval of 10.52 g/t.

This combination suggests that Trojarova is a "dual-threat" asset: a high-grade gold play masquerading as a strategic defense necessity.

This "dual-threat" mineralization suggests that Trojarova isn't just a strategic outpost for critical minerals; it’s a high-grade gold play masquerading as a defense asset.

From "Historic" to "Headline"

Ecclestone’s thesis hinges on the fact that Trojarova stands as the only antimony deposit in the EU currently being dragged into the modern era with rigorous exploration. As China continues to tighten its export spigot, the European Union’s Critical Raw Materials Act has become more than just a piece of hopeful legislation, it is a survival manual. Military Metals is positioned right at the intersection of this regulatory tailwind and a supply vacuum.

This isn't just about proving old Soviet maps and field notes were right. As CEO Scott Eldridge noted in the February 4th release, these results are delivering "higher than anticipated gold grades" alongside the expected antimony. It turns the project from a strategic necessity into an economic standout, independent of the subsidy conversation.

The Peer Comparison

The timing here is not accidental. The sector just received a massive vote of confidence in January with the final approval of Perpetua Resources’ (NASDAQ: PPTA) massive Stibnite project in Idaho. That milestone proved that Western governments are willing to greenlight antimony projects. Military Metals is now running that same playbook in Europe, except they are doing it with a market cap that hasn't yet priced in that level of strategic success.

The Bottom Line

The report suggests that the market is only beginning to wake up to the "antimony anchor" in Europe. With a NI 43-101 compliant mineral resource estimate expected by the end of Q1 2026, the transition from an exploration story to a defined resource play could be imminent. For an industry that often deals in "maybe" and "eventually," the data coming out of Trojarova feels refreshingly concrete.

This initiation of coverage serves as a loud wake-up call for those who thought critical mineral independence was a pipe dream. It appears the ground in Slovakia has plenty more to say, and for Military Metals, the conversation is just getting started.

The Juniorstocks Angle

We’ve featured Military Metals previously because they fit a specific profile: a tight capital structure, a misunderstood commodity, and a jurisdiction (Slovakia) that understands mining. It is validating to see a firm like Hallgarten step in and essentially stamp "Institutional Grade" on a thesis we’ve been tracking.

The takeaway for our readers? The "Antimony Anchor" isn't just a clever nickname; it’s a role that Europe desperately needs filled. With the drills turning and a resource estimate weeks away, Military Metals is moving from an exploration concept to a defined strategic asset.

The EU needs an anchor. It looks like they found one.

Source:

• Hallgarten & Company: "Military Metals Corp.: Trojarova - The Antimony Anchor in Europe" by Christopher Ecclestone (February 10, 2026).

• February 4, 2026: "Military Metals Drills 23.5 Meters of 3.3 g/t Gold Including 4.0 Meters of 10.52 g/t Gold... at Flagship Trojarova Project." (Source of Hole 25-TVA-003 data and CEO Scott Eldridge quote).

• January 21, 2026: "Military Metals Announces 2025 Soil Sampling Delineates 800m Antimony Anomaly, Last Chance Antimony Project, Nevada, USA." (Source of Nevada "safety net" context).

• January 7, 2026: "Military Metals Drills 23.2 Meters of 2.22% Antimony Including 7.9 Meters of 4.9% Antimony... at Flagship Trojarova Project." (Source of Hole 25-TVA-001 antimony data).

• October 14, 2025: "Military Metals Announces Boulder Sample Results... West Gore Antimony-Gold Project, Canada." (Source of Nova Scotia project details).

Disclaimer:

The author holds shares in Military Metals Corp (CSE: MILI | OTCQB: MILIF) and may buy or sell at any time. This article is for informational purposes only, was prepared independently without company involvement, and utilized AI assistance. It is not investment advice. Consult a qualified financial advisor before making investment decisions.

Thanks for reading this week's newsletter!

We appreciate you taking the time to stay informed and ahead of the game.