United States Antimony Corporation (AMEX:UAMY) shares climbed 1.9% in Wednesday premarket trading after the company unveiled a new $100 million share repurchase programme.
The company’s Board of Directors has authorised the repurchase of up to $100 million of outstanding common stock. The programme has no predetermined expiry date, giving the company flexibility to amend, pause or end the initiative at any time.
United States Antimony may purchase shares through open-market transactions or privately negotiated deals. The company’s Finance Committee will determine the timing and scale of any repurchases, taking into account prevailing market conditions and the company’s broader corporate requirements.
Any purchases made on the open market will be conducted in accordance with Rule 10b-18 of the Securities Exchange Act of 1934.
Chairman and CEO Gary C. Evans said the Board unanimously concluded that the company’s shares were undervalued following a review of USAC’s projects across the U.S., Canada and Mexico. The decision came after directors assessed the company’s recent share-price performance alongside its longer-term growth prospects.
United States Antimony produces and processes antimony, zeolite and other critical minerals. The company describes itself as the only fully integrated antimony business operating outside China and Russia.
United States Antimony Corporation stock price
