Mentioned:
UAMY -10.92% PPTA -9.54%
The United States of America is racing to find new sources of domestic antimony. Could it be hiding in Alaska?
What’s happening:
- United States Antimony Corporation (NYSE: UAMY) has announced a deal to acquire a significant amount of new antimony claims in Alaska
By the numbers:
- United States Antimony Corporation has acquired 120 new mining claims in Alaska that span across 17,900 acres and have historic exploration data that show high antimony deposits located near the surface
- The new claims will cost United States Antimony Corporation $3M USD over staggered payments and $2.25M USD in exploration commitments
Why it matters:
- Domestic antimony supply has come into new focus following China making waves with the announcement that they will ban all exportation of antimony
Going deeper:
- Antimony exploration has also been heating up in the public markets, fuelled by the highly notable new federal approval for Perpetua Resources (NASDAQ: PPTA) to be able to advance their historic Stibnite Gold Project in Idaho
