US Antimony Secures $245M Defense Contract Over Five Years: Report

United States Antimony Corp. (UAMY) reportedly said on Tuesday it has secured a five-year contract worth up to $245 million from the U.S. Defense Logistics Agency.

According to a Reuters report, the company secured a sole-source contract to supply antimony metal ingots for the defense stockpile.

Retail sentiment on the stock remained unchanged in the ‘extremely bullish’ territory, with message volumes at ‘high’ levels, according to data from Stocktwits. Shares of the company jumped over 21% in early trading on Tuesday.

Since taking office, U.S. President Donald Trump has implemented multiple executive and policy measures to strengthen U.S. access to critical minerals as part of the country’s efforts to maintain national security and economic self-reliance. Reuters noted that Antimony, which is used in munitions, batteries, and military-grade compounds, was flagged as a vulnerability in the U.S. industrial base by defense officials.

“It’s incredibly meaningful for all our employees to play such a strategic role in strengthening our nation's defense readiness," USAC CEO Gary C. Evans said, according to Reuters.

The report noted that U.S. Antimony Corp operates North America’s only two antimony smelters and is positioned to begin immediate fulfillment from its domestic facilities. Reuters, citing the company, said that the first delivery order is expected this week.

Shares of the company have jumped 322% this year and gained nearly 860% in the last 12 months.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Also See: Amazon Faces FTC In Trial Over Alleged Prime Enrollment Strategy: Report

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