Pentagon Allocates $1 Billion to Safeguard Antimony Amidst 97% Reduction in Supply from China
Surge in Antimony Prices: Antimony prices have skyrocketed above $40,000 per ton due to Western nations' efforts to replace Chinese supply following a 97% reduction in exports, prompting significant investments in domestic stockpiling for defense applications.
RUA GOLD Inc.'s Strategic Position: RUA GOLD Inc. is emerging as a key player in the antimony market, with promising drilling results from its Auld Creek project, which has shown high-grade gold and antimony, attracting institutional interest amid a critical minerals crisis.
Market Growth Projections: Analysts predict the global antimony market will grow from $2.15 billion in 2025 to $3.17 billion by 2035, driven by demand in defense, flame retardants, and battery applications, as Western miners capitalize on supply chain security.
Industry Developments: Other companies like Nova Minerals and Americas Gold and Silver are advancing their antimony production capabilities, with Nova targeting military-grade output and Americas reporting strong production results, highlighting the growing importance of antimony in the U.S. market.
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International Tower Hill Mines Completes Upsized Public Offering
- Successful Public Offering: International Tower Hill Mines has successfully completed an upsized public offering of 33.67 million shares at a price of $2.22 per share, expected to generate $74.8 million in gross proceeds, significantly enhancing its financial capacity for future project development.
- Concurrent Private Placement: The company simultaneously closed a $40 million private placement of 18.02 million shares, resulting in total gross proceeds of $114.8 million from both offerings, providing ample funding for the exploration and development of the Livengood Gold Project.
- Clear Use of Proceeds: The proceeds from the offerings will be allocated to drilling, feasibility studies, and baseline environmental studies for the Livengood Gold Project, ensuring smooth project advancement and enhancing the company's competitiveness in the gold mining sector.
- Compliance with Related Party Transactions: As Paulson and other participants are related parties, the issuance of shares is classified as related party transactions, with the company relying on exemptions under MI 61-101 to ensure compliance and transparency.
Gold Prices Soar to New Heights, Exceeding $5,300 an Ounce Before FOMC Meeting
Market Surge: Spot gold prices have surged above $5,300, setting new records in the market.
FOMC Meeting Anticipation: The increase in gold prices comes ahead of the upcoming Federal Open Market Committee (FOMC) meeting.
