The Zhitong Finance App learned that according to a recent report, the US Antimony Industry (UAMY.US) gold and antimony resources in Alaska are worth more than 314 million US dollars. Boosted by this news, the US antimony industry rose nearly 3% before the market on Tuesday, and the increase narrowed to more than 1% as of press time.
The US antimony industry said it has completed an updated technical assessment of its Nolan Creek (Nolan Creek) gold and antimony mine site in Alaska. Relevant mining work has now begun, and a sample weighing 1,000 tons will be used to assess the deposit's potential and prepare for possible commissioning in 2027.
The assessment sets out the estimated value of the relevant mineral resources, covering the company's wholly-owned mineral site in northern Alaska. The report estimates that the value of proven and controlled resources at the Nolan Creek mineral site exceeds US$314 million, while the estimated value of inferred resources exceeds US$125 million. In this assessment, the US antimony industry used the price of 4,000 US dollars per ounce of gold and 8.30 US dollars per pound of antimony as the valuation basis. In the Exploration and Control Resources category, the company estimates the value of antimony contained in the deposit at US$233.9 million and the value of gold at US$79.9 million.
The US antimony industry purchased the Nolan Creek Land Authority mineral rights in a public trustee auction on January 30. Since then, the company has acquired other mining properties in Alaska to expand its holdings and cover more surrounding mineralized areas.
Gary C Evans, Chairman and CEO of the US Antimony Industry, said: “This is another example of USAC's strategy of 'rapid progress' using mining methods. After acquiring this mineral site earlier this year, we will still extract about 1,000 tons of veined ore (including antimony and gold) from underground mines and ship it to our in-house flotation plant in Radersburg (Radersburg), Montana for processing in preparation for sales in November and December this year. This shipment will represent the first time we have shipped antimony ore obtained from Alaskan exploration work to Montana for processing.”
The data shows that the stock price of the US antimony industry has plummeted by 43% from the beginning of the year to date. On the Stocktwits platform, retail investor sentiment about the stock is still in a “bearish” range. However, discussions related to the stock surged 2600% in the past 24 hours. One user said, “War will break out after the election, or sooner. At that time, the demand for all minerals will be enormous. These are all obvious facts.”