Washington Antimony Deal: Krait Agrees to Acquire Bales Project Rights

Source: Streetwise Reports 09/15/2026

Krait Critical Minerals has entered into a definitive agreement to acquire Nevada Hills Antimony LLC and, indirectly, its contractual rights to the Bales Antimony Project in Washington. Review deal terms, financing, and due diligence steps for investors.

Krait Critical Minerals Corp. (KRIT: CSE; U0S:FSE) has agreed to acquire Nevada Hills Antimony LLC through a definitive securities exchange agreement, according to a recent press release. The transaction would give Krait ownership of Nevada Hills and, indirectly, its contractual rights to the Bales Antimony Project, along with additional claims in Okanogan County, Washington.

Krait Critical Minerals Corp. will issue 2.5 million common shares at a deemed price of CA$0.87 per share and pay US$75,000 in cash at closing after crediting a prior US$25,000 exclusivity fee.

This structure lets retail investors see exactly how the company is funding growth in a critical mineral while preserving cash for exploration.

Why the Bales Acquisition Matters Now

Antimony prices have fluctuated sharply due to concentrated supply.

Adding a U.S.-based project gives Krait exposure to potential domestic sourcing trends without immediate large capital outlays.

Company Position and Unique Assets

Krait gains Nevada Hills holdings that include rights under the Bales mineral property purchase agreement, nine contiguous claims, and four claims at the Antimony Bell Project. The eight Bales claims are to be conveyed to Nevada Hills upon payment in full of the US$225,000 purchase price and satisfaction of the other requirements under the Bales Mineral Property Purchase Agreement, which also provides for a 2% net smelter return royalty to the underlying owner.

A net smelter return royalty is a percentage of gross revenue from mineral sales after smelting and refining costs. This keeps the deal terms clear for investors evaluating future economics.

Key Assets and Next Catalysts

Historical records report stibnite mineralization at Bales, including a discovery-post sample that assayed 10.9% antimony and 337.82 tons of historically sorted material that reportedly assayed 14.4% antimony. Approximately 100 tons of mineralized material were reportedly mined at Bales during 1951–1952. Krait has not independently verified these historical figures, and no current mineral resources or mineral reserves have been defined.

Subject to closing and permits, Krait plans claim verification, historical data compilation, and reconnaissance mapping at Bales and Antimony Bell.

Sector Timing and Supply Context

According to S&P Global Energy’s August Antimony Market Report, Chinese and Russian operations controlled roughly 80% of mine supply and 81% of processing capacity in 2025. New ex-China capacity is projected to come mainly from gold by-product projects in the U.S. and Australia by 2030.

The August report also highlighted a processing capacity gap outside China of about 33,000 metric tons in 2026.

More recently, a September 2 Investing report from 247 Wall Street described differing trading activity across the broader critical minerals market. The report noted a US$245 million U.S. Defense Logistics Agency contract for high-purity antimony ingots.

Valuation Context and Share Structure¹

Krait has 12,010,496 shares outstanding. Insiders hold 9.3%, with the CEO owning 9.28%. The rest is held by retail investors. [OWNERSHIP_CHART-11664]

The company also announced a non-brokered private placement for up to CA$1.5 million at CA$0.75 per share with no warrants.

Krait separately arranged a non-brokered private placement for gross proceeds of up to CA$1.5 million through the issuance of up to 2 million common shares at CA$0.75 per share. No warrants will be included in the offering.

Net proceeds will support Phase 1 work at the Goldbar Spider Lake gold project, reconnaissance at the new antimony assets, and working capital.

Krait’s August 2026 investor presentation identifies the Goldbar Spider Lake Project as its flagship gold project in the Hemlo-Schreiber Greenstone Belt, covering 3,636 hectares under an option to earn 100% subject to a 3% NSR.

Key Investor Takeaways

• Krait is acquiring an LLC holding contractual rights rather than direct ownership of the Bales’ claims at closing.
• Payment consists of 2.5 million shares plus US$75,000 cash after fee credit.
• No current mineral resources or reserves are defined at Bales or Antimony Bell.
• A parallel CA$1.5 million financing supports exploration at both gold and antimony assets.
• Closing depends on CSE filings, due diligence, and third-party approvals.
• Antimony supply remains concentrated, creating potential long-term relevance for U.S. projects.

Common Questions from Investors

Has the Nevada Hills acquisition closed?

No. Completion remains subject to regulatory approvals, due diligence, and other standard conditions.

What financing is Krait raising alongside the deal?

Up to CA$1.5 million via shares at CA$0.75 with no warrants attached.

Does Krait plan immediate drilling at Bales?

No. Krait’s proposed initial evaluation includes legal and technical review, historical data compilation, reconnaissance, mapping, and sampling, with a phased exploration program and budget to be prepared only if the review supports further work.

How large is the Bales land package?

Seventeen claims reported to cover roughly 310 acres, once the contiguous claims are included.

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Important Disclosures:

1. Krait Critical Minerals Corp. is a billboard sponsor of Streetwise Reports. The company pays a monthly sponsorship fee of US$3,000–US$6,000 for banner advertising and an enhanced company profile page. Streetwise Reports’ editorial content is fully independent and is not influenced by sponsorship.
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Krait Critical Minerals Corp.
3. Jordan Nova wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: KRIT: CSE;U0S:FSE, )

Source: https://www.streetwisereports.com/article/2026/09/15/washington-antimony-deal-krait-agrees-to-acquire-bales-project-rights.html