Felix Gold (ASX: FLX) Down 60% Over Six Months — Does US DOE Funding News Change the Picture?

Sonal Goyal

25 August 2026 07:08 PM AEST

Felix Gold (ASX: FLX) Down 60% Over Six Months — Does US DOE Funding News Change the Picture?

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Key Highlights

Felix Gold (ASX:FXG) has been selected by the U.S. Department of Energy for negotiations over a financial award of up to US$18 million for its Treasure Creek Antimony Pilot Processing Facility.
The proposed federal funding would be non-dilutive, with Felix Gold proposing a 26.8% cost share of approximately US$4.8 million through in-kind delivery of ore.
The selection is one of nine projects chosen nationally under a US$162 million DOE program focused on domestic critical minerals and materials recovery.
The funding is not yet committed and remains subject to negotiations, mitigation measures, execution of a funding agreement and other conditions.

Felix Gold (ASX:FLX) shares are down 60% over the past six months, last trading at AUD 0.048, despite news that the company has been selected for US government funding negotiations for its antimony project.

What's Behind the News

The US Department of Energy has selected Felix Gold's US Subsidiary for negotiations over a financial award of up to US$18 million for the Treasure Creek Antimony Pilot Processing Facility. The selection falls under Topic Area 2b, covering advancement of pilot-scale facilities toward pre-commercial demonstration, and is one of nine projects chosen nationally under a US$162 million DOE program.

The funding would be non-dilutive, with Felix Gold proposing a cost share of approximately US$4.8 million (26.8%) delivered in-kind through ore. Importantly, the US$18 million is not yet secured — award negotiations may take up to 120 days, followed by execution of a funding agreement, and the DOE can still cancel or rescind the selection.

Downstream and Timeline

Felix Gold is also progressing Downstream processing through Frontier Antimony Refinery, targeting a US smelter by the end of 2027. The company describes a June 2027 Mining target at Treasure Creek as aspirational, not a formal production target, pending permitting, funding and further studies.

Is FLX Worth Watching?

Treasure Creek sits within Felix Gold's broader Fairbanks Mining District position, near Kinross's Fort Knox mill, where the company also holds gold exploration interests.

FAQs

Q: How has FLX performed over six months?

A: Shares are down 60% over the past six months, trading at AUD 0.048.

Q: What funding has Felix Gold been selected for?

A: Negotiations with the US DOE over up to US$18 million for its Treasure Creek antimony facility.

Q: Has the funding been finalised?

A: No — it remains subject to negotiation and a formal funding agreement.

Q: Will the funding dilute shareholders?

A: No — the DOE funding is described as non-dilutive grant funding.

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