A recent report estimates that United States Antimony Corp (UAMY.US) holds gold and antimony resources in Alaska valued at more than $314 million.
Fueled by this news, United States Antimony Corp (UAMY.US) shares climbed nearly 3% in pre-market trading on Tuesday before narrowing gains to just over 1% as of the latest update.
United States Antimony Corp (UAMY.US) stated it has completed a new technical assessment of its Nolan Creek gold-antimony mining property in Alaska.
Mining operations have already commenced, with a 1,000-ton sample set to be used to evaluate the deposit's potential in preparation for possible production starting in 2027.
The assessment outlined the estimated value of the relevant mineral resources, covering the company's wholly owned mining properties in northern Alaska.
The report estimates the value of measured and indicated resources at Nolan Creek at more than $314 million, while the estimated value of inferred resources exceeds $125 million.
In this assessment, United States Antimony Corp (UAMY.US) used a valuation basis of $4,000 per ounce of gold and $8.30 per pound of antimony.
Within the measured and indicated resource category, the company estimates the antimony contained in the deposit is worth $233.9 million, with gold valued at $79.9 million.
United States Antimony Corp (UAMY.US) acquired the Nolan Creek Bureau of Land Management mining claims on January 30 at a public trustee auction.
Since then, the company has acquired additional mining claims in Alaska to expand its holdings and cover more mineralized areas nearby.
Gary C. Evans, Chairman and CEO of United States Antimony Corp (UAMY.US), said: "This is another example of USAC's 'fast-track' strategy using the mining method. After acquiring this property earlier this year, despite the local weather conditions being extremely harsh at best, we will still extract approximately 1,000 tons of vein ore (containing antimony and gold) from the underground mine and transport it to our in-house flotation plant in Radersburg, Montana for processing, in preparation for sales in November and December of this year. This shipment will represent the first time we have transported antimony ore obtained from Alaska exploration work to Montana for processing."
Data shows that United States Antimony Corp (UAMY.US) shares have plunged 43% year-to-date.
On the Stocktwits platform, retail sentiment toward the stock remains in "bearish" territory.
However, over the past 24 hours, discussion volume related to the stock surged 2,600%.
One user said: "After the election, or even earlier, war will break out. At that point, demand for all minerals will be enormous. These are all obvious facts."
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