Locksley Resources
Locksley Resources is an ASX-listed critical minerals explorer developing the Mojave Project in California to produce domestically sourced antimony and rare earth elements for U.S. defense, energy, and industrial end-users via a vertically integrated mine-to-market strategy.
- Company typePublic
- Founded-
- HeadquartersPerth, Australia
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Locksley Resources does
Locksley Resources Limited (ASX: LKY; OTCQX: LKYRF; FSE: X5L; ADR: LKYLY) is an Australian-listed critical minerals exploration company developing a vertically integrated Mine to Market strategy aimed at establishing a domestic U.S. supply chain for antimony and rare earth elements (REE). The company's primary asset is the Mojave Project in southeast California, comprising the Desert Antimony Mine (peak drill intercept 33.51% Sb over 0.4m, surface assays up to 46% Sb), the El Campo REE prospect (up to 12.1% TREO rock chip, peak intercept 6.03% TREO over 0.7m), and the Dam Antimony Mine, all strategically located approximately 1.4 km from MP Materials' Mountain Pass REE Mine. A secondary portfolio in New South Wales, Australia, consists of the Tottenham Project (JORC 2012 inferred resource of 9.86 Mt at 0.72% Cu, 0.22 g/t Au, 2 g/t Ag) and the option-stage Iron Duke Copper-Gold Project (65 exploration licences, Cobar District), providing non-U.S. base metals diversification.
The company's product stack includes metallic antimony and antimony trioxide (produced at 99%+ and 99.5% purity respectively), NdPr-enriched light rare earth feedstock, and advanced antimony-graphite battery anode materials (up to 20% antimony loading) developed jointly with Rice University. Its proprietary Deepsolv™ solvometallurgical processing technology underpins the antimony refining pathway and is positioned to serve third-party ore sources beyond internal Mojave feedstock. The Australian Tottenham Project remains an exploration asset with no current production. Research collaborations with Rice University (US$550K funded over 12 months), Columbia University, and Hazen Research form the technology backbone, supplemented by Affiliate Membership in the U.S. Department of Energy's Critical Materials Innovation Hub.
Locksley operates a pre-revenue, capital-intensive model with revenue expected to derive from long-term offtake agreements with U.S. federal agencies (DoD, DOE) and defense contractors such as Lockheed Martin, as well as direct sales to industrial and clean energy end-users. Pricing is undetermined pending offtake execution, and the go-to-market is enterprise sales-led, emphasizing U.S. government funding pathways (EXIM Bank, Defense Production Act, DOE R&D), strategic advisory relationships, and a wholly-owned U.S. subsidiary (Enigma Strategic Minerals LLC) managing California operations. Distribution is single-country/domestic, with no international product sales infrastructure. The company is financed primarily through equity capital raises, the most recent being an oversubscribed A$17 million placement in December 2025 led by U.S. institutional investors.
Locksley Resources firmographics
Firmographics- Name
- Locksley Resources
- Legal name
- Locksley Resources Limited
- Website
- https://locksleyresources.com.au
- Company type
- Public
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Locksley Resources is an ASX-listed critical minerals explorer developing the Mojave Project in California to produce domestically sourced antimony and rare earth elements for U.S. defense, energy, and industrial end-users via a vertically integrated mine-to-market strategy.
- Ownership category
- akta.pro rank
Locksley Resources industry classification
Industry- Product category
- Critical Minerals Mining and Processing
- NAICS
- Other Metal Ore Mining (21229), Gold Ore and Silver Ore Mining (212220), Metal Ore Mining (2122)
- SIC
- Metal Mining (1000), Gold And Silver Ores (1040), Primary Smelting & Refining Of Nonferrous Metals (3330)
- akta.pro primary industry
- Exploration & Resource Development (Critical Minerals) (IMAKAFAL)
- akta.pro secondary industries
- Critical Minerals Trading, Offtake & Marketing (IMAKAFAJ), Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM)
Keywords
Where Locksley Resources is headquartered
LocationHeadquarters
- HQ city
- Perth
- HQ country
- Australia
- HQ region
- Oceania
Offices1 record
Markets served
Locksley Resources business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Technology or R&D, Personnel, Infrastructure, Marketing or Sales
Revenue model
- Critical Minerals Production (Antimony and REE): Pre-revenue exploration stage. Future revenue anticipated from mining and selling antimony and rare earth elements to U.S. defense, industrial, and clean energy sectors. Mine-to-market strategy includes downstream processing to produce antimony trioxide, metallic antimony, and advanced materials.
- Copper and Gold Production (Australia): The Tottenham Project in NSW Australia contains JORC 2012 compliant inferred mineral resource of 9.86Mt @ 0.72% Cu, 0.22g/t Au, 2g/t Ag. Future copper and gold production anticipated.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels8 records
Locksley Resources product offering
Product offeringCore offering
Locksley Resources is a critical minerals exploration and development company focused on producing antimony, rare earth elements (particularly NdPr), copper, and gold. The company's core offerings center on the Mojave Project in California (Desert Antimony Mine, El Campo REE Prospect, Dam Antimony Mine) and the Tottenham and Iron Duke copper-gold projects in New South Wales, Australia, with downstream processing capability via its proprietary Deepsolv™ solvometallurgical technology. Future revenue is anticipated from the sale of refined antimony ingots, antimony trioxide, and rare earth feedstock to U.S. defense, energy, and industrial customers.
Product overview
Locksley Resources is a critical minerals exploration and development company with two principal programs: a U.S.-focused Mine to Market strategy anchored by the Mojave Project in California (containing the Desert Antimony Mine, El Campo REE Prospect, and Dam Antimony Mine), and an Australian copper-gold portfolio anchored by the Tottenham Project with the newly acquired Iron Duke Copper-Gold Project. The Mojave Project is the strategic priority, targeting high-grade antimony and rare earth elements (especially NdPr) to supply U.S. defense, energy, and industrial markets through a vertically integrated approach. Downstream, the company operates the proprietary Deepsolv™ antimony processing technology and is developing antimony-graphite battery materials through a partnership with Rice University. Exploration drilling, metallurgical processing, and U.S. government engagement form the core commercial activities.
Differentiator
Problem solved
Functional benefit
Products and services
- El Campo (REE) Prospect A rare earth element exploration prospect within the Mojave Project in California, located along strike from Mountain Pass Mine. Features rock chip grades up to 12.1% TREO and NdPr values up to 3.19%, targeting light rare earth elements essential for permanent magnets used in EVs, robotics, and defense applications.
- Desert Antimony Mine A historic antimony mine within the Mojave Project in San Bernardino, California, featuring surface assays up to 46% Sb and outcropping quartz-calcite-stibnite veins. Locksley is advancing drilling and permitting to reintroduce domestic antimony production for defense, semiconductors, flame retardants, and energy storage applications.
- Deepsolv™ Antimony Processing Technology A proprietary solvometallurgical processing technology for antimony extraction and refining that enables ore-source-agnostic antimony processing and addresses a critical U.S. domestic processing gap, offered for both internal Mojave project use and potential third-party ore processing.
- Antimony-Graphite Battery Materials (Advanced Energy Systems) Next-generation antimony-based energy storage materials developed in partnership with Rice University, designed to improve performance in sodium-ion and lithium-ion battery chemistries with up to 20% antimony loading, enhanced cycling stability, and higher theoretical capacity compared to conventional graphite anodes.
- Tottenham Project A copper and gold exploration project in the Cobar-Girilambone district of central New South Wales, Australia, covering four granted Exploration Licences (~470 km²) with a JORC 2012 compliant inferred mineral resource of 9.86Mt at 0.72% Cu, 0.22g/t Au, and 2g/t Ag.
- Iron Duke Copper-Gold Project An early-stage copper and gold exploration project covering 65 exploration licence units in the Cobar District of New South Wales, Australia, acquired through a binding option agreement with Balmain Minerals.
- Dam Antimony Mine An antimony exploration target within the Mojave Project where Locksley intersected antimony mineralisation beneath historical workings, with mineralisation extending to the south and at depth, supporting the company's U.S. antimony supply chain objectives.
Quantifiable outcome
- 99.5% purity antimony trioxide produced from Desert Antimony Mine feedstock
- +3 more outcomes
Companies that use Locksley Resources
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles2 records
Locksley Resources technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Locksley Resources partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Balmain Minerals (Sky Metals)minorBinding option agreement to acquire 100% interest in Iron Duke Copper Gold Project. Transaction involves upfront option fee of A$100,000, initial consideration of A$500,000, and additional A$500,000 contingent on resource milestones or project sale. Project comprises 65 exploration licences in Cobar District, NSW, Australia.
- Hazen ResearchcorePartnership with Hazen Research for metallurgical testwork to process ore exclusively within the U.S. Successfully produced metallic antimony at better than 99% purity, resulting in a 100% American-made antimony ingot meeting near defence-grade specifications.
- U.S. Department of Energy Critical Materials Innovation HubcoreAffiliate Membership status granted to U.S. subsidiary Enigma Strategic Minerals LLC after seven-month verification process. Provides access to world-class R&D and collaboration with leading U.S. national laboratories (Oak Ridge, Lawrence Livermore) for critical mineral supply chain development. Access to DOE-funded R&D projects worth millions of dollars.
- Columbia UniversitycoreSponsored research agreement with Columbia University's Department of Earth and Environmental Engineering (led by Professor Greeshma Gadikota) to develop advanced sustainable processing technologies for rare earth elements and critical metal recovery. Research focuses on recovery, separation, and metallization of REEs from carbonatite and bastnasite-style mineral systems at the El Campo REE project.
- Rice UniversitycoreSponsored Research and Development Agreement with Rice University researchers (led by Pulickel Ajayan) to develop America's first domestic antimony processing capabilities. Two parallel research initiatives: green hydrometallurgical extraction and antimony-based energy storage. US$550,000 advanced over 12 months. All IP jointly owned between Locksley and Rice University.
Scale indicators10 records
Recent moves7 records
Expansion highlights6 records
Locksley Resources competitors and assessment
Company assessmentDirect peers
- MP Materials: Operator of Mountain Pass, the only producing REE mine in North America. Directly comparable as a U.S.-focused REE producer located adjacent to Locksley's Mojave Project, sharing the same customer set (DoD, magnet makers) and federal-policy tailwinds.
- Perpetua Resources: Developer of the Stibnite Gold Project in Idaho, which is one of the largest identified U.S. antimony resources. Comparable as a U.S. critical minerals developer targeting antimony supply for defense and seeking federal/EXIM-style financing.
- United States Antimony Corporation: The only currently listed U.S. antimony producer, operating smelting and processing facilities in Montana and Mexico. Directly comparable on antimony processing focus and U.S. domestic supply thesis.
- USA Rare Earth: U.S.-focused critical minerals developer pursuing domestic REE and heavy mineral sand production and downstream processing. Comparable as a U.S. REE/Magnet-materials play targeting Defense Production Act funding.
- Energy Fuels: U.S. uranium and rare earth processor operating White Mesa Mill, with growing REE and critical minerals processing capabilities. Comparable as a domestic mid-stream processor of critical minerals serving U.S. government and industrial customers.
- Australian Strategic Materials: Australian-listed critical minerals developer integrating mine-to-metals production of REEs, zirconium, and titanium alloys with Korean and U.S. processing partners. Comparable as a vertically integrated critical minerals producer targeting similar defense/clean energy customers.
- Peak Rare Earths: Developer of the Ngualla REE project in Tanzania, focused on light rare earth production including NdPr. Comparable as a single-asset REE developer targeting NdPr-rich mineralization for the global permanent-magnet supply chain.
- VHM Limited: Australian critical minerals developer advancing the Donald Project for REEs, mineral sands, and rare metals. Comparable as a small-cap Australian-listed REE/critical minerals developer at similar stage of project development.
Broad incumbents
- Iluka Resources: Major Australian mineral sands producer building the A$1.8B Eneabba rare earths refinery. Comparable as a more advanced, larger-cap REE refining play and former employer of Locksley's CEO.
- Lynas Rare Earths: World's largest non-Chinese REE producer with Mt Weld mine and Malaysian/Kalgoorlie processing. Comparable as a larger, more advanced REE mine-to-oxide producer serving similar end-markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Locksley Resources social profiles
Digital presenceLocksley Resources financial estimates
Financial estimateRevenue estimate
Valuation estimate
Locksley Resources leadership team
Management profileNumber of profiles
Profiles4 records
Locksley Resources subsidiaries and ownership
Company hierarchySubsidiaries1 record
Locksley Resources funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Locksley Resources M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Locksley Resources
What does Locksley Resources do?
Locksley Resources is a critical minerals exploration and development company focused on producing antimony, rare earth elements (particularly NdPr), copper, and gold. The company's core offerings center on the Mojave Project in California (Desert Antimony Mine, El Campo REE Prospect, Dam Antimony Mine) and the Tottenham and Iron Duke copper-gold projects in New South Wales, Australia, with downstream processing capability via its proprietary Deepsolv™ solvometallurgical technology. Future revenue is anticipated from the sale of refined antimony ingots, antimony trioxide, and rare earth feedstock to U.S. defense, energy, and industrial customers.
Is Locksley Resources a public or private company?
Locksley Resources is a public company. It is classified as public and is currently operating.
When was Locksley Resources founded?
Locksley Resources was founded in -1. It employs 1 to 10 people.
Where is Locksley Resources based?
Locksley Resources is headquartered in Perth, Australia, in the Oceania region.
How does Locksley Resources make money?
Two revenue lines are on record. Critical Minerals Production (Antimony and REE) is the primary driver. The others are copper and Gold Production (Australia).
Who are Locksley Resources's main competitors?
Direct peers on record are MP Materials, Perpetua Resources, United States Antimony Corporation, USA Rare Earth, Energy Fuels, Australian Strategic Materials, Peak Rare Earths and VHM Limited. Broad incumbents are Iluka Resources and Lynas Rare Earths.
Does Locksley Resources have an API?
No public API is recorded for Locksley Resources.
What industry is Locksley Resources in?
Locksley Resources's product category is Critical Minerals Mining and Processing. Its primary akta.pro industry code is IMAKAFAL, Exploration & Resource Development (Critical Minerals), with a secondary code of IMAKAFAJ, Critical Minerals Trading, Offtake & Marketing. Its NAICS code is 21229 and its SIC code is 1000.