US Antimony (UAMY) Climbs to Fresh High as Firm Bares Critical Minerals Expansion

We recently published 10 Stocks Stealing Wall Street’s Spotlight. United States Antimony Corp. (NYSEAmerican:UAMY) is one of the best performers on Monday.

US Antimony climbed to a new all-time high on Monday, as investors cheered its planned expansion of critical minerals production in the country, supported by a newly raised $25 million in fresh funds.

During the session, United States Antimony Corp. (NYSEAmerican:UAMY) jumped to a new all-time high of $17.26 before trimming gains to end the day up by 36.85 percent at $16.71 apiece.

Last Friday, United States Antimony Corp. (NYSEAmerican:UAMY) said that it entered into a securities purchase agreement with a leading mutual fund for the said stake, covering the sale of 2.37 million shares. The offer will close on Tuesday, October 14.

United States Antimony Corp. (NYSEAmerican:UAMY) said proceeds will be used to finance additional antimony and other critical mineral inventory; expand leasehold mineral positions in Alaska and Montana; increase the capacity of its Madero Smelter; and the acquisition of other critical mineral companies, among others.

“We have now raised a total of $69.25 million in three separate tranches with two large institutions over the last 45 days at increasingly higher share prices. While we have not solicited these institutions, we have attempted to take advantage of the opportunity in the best way possible for the benefit of our shareholders,” said Chairman and CEO Gary Evans.

“These capital raises have been completed with minimal or no discounts to market. This practice has allowed us to strategically bring large institutional fundamental investors into our Company’s shareholder base,” he added.

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Disclosure: None. This article is originally published at Insider Monkey.