American Tungsten & Antimony Selected for Negotiations on Up to $18 Million US Energy Department Award, Shares Up 19%

MT Newswires Live08-19 12:40

American Tungsten & Antimony (ASX:AT4) said its US unit, Trigg Minerals, has been selected by the US Department of Energy (DOE) for the start of negotiations for a potential financial award of up to $18 million for the Advanced Smelting Capacity for Expansion and National Dominance in Antimony (ASCEND-Sb) project, according to a Wednesday Australian bourse filing.

The company said the ASCEND-Sb project is one of nine projects selected nationally under a $162 million DOE program announced on August 18, the filing added.

The company said it will work with the DOE to negotiate the scope and terms of the funding package, including assessing the allocation of funds to the ASCEND-Sb project and potentially other assets, including the Del Sol Refinery, it added.

The company's shares rose 19% in recent Wednesday trade.

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