US Antimony capital raise funds growth in critical minerals

US Antimony

US Antimony capital raise plans signal an aggressive push into the US critical minerals supply chain. The company aims to secure $25mn by selling around 2.4mn shares to a mutual fund, adding to substantial capital injections in August and earlier this month. As a result, the US Antimony capital raise will underpin inventory expansion, smelting upgrades and potential acquisitions at a pivotal moment for US defence-focused metals.

US Antimony capital raise supports defence stockpile and smelter expansion

The US Antimony capital raise directly supports its five-year, fixed-price contract with the US Defense Logistics Agency. The firm plans to use proceeds to acquire additional antimony inventory and expand existing leaseholds in Alaska and Montana, reinforcing upstream security of supply. At the same time, management will expand the Madero smelter in Mexico and evaluate acquisitions of other critical minerals companies. Together, these steps align with Washington’s push to localise and friend-shore strategic metal supply chains.

Meanwhile, the latest equity deal follows roughly $18mn raised in August and nearly $26.3mn earlier this month. This rapid sequence of financings shows investors are willing to back a scale-up strategy anchored by long-term government demand. It also gives US Antimony flexibility to deploy capital across mining, processing and potential M&A rather than relying on a single asset bet.

Building a vertically aligned US antimony supply chain

US Antimony has positioned itself at the heart of efforts to rebuild a fully integrated US antimony supply chain. The DLA contract, worth up to $245mn over five years, provides predictable offtake for antimony ingots headed into the national defence stockpile. Therefore, the US Antimony capital raise can be viewed as growth equity tied to a visible revenue base rather than speculative greenfield risk.

However, execution risks remain around smelter expansion, permitting and integrating any acquired critical minerals businesses. The company must also navigate volatile antimony prices and competing capital needs across Alaska, Montana and Mexico. Even so, a reinforced balance sheet and contracted government demand leave US Antimony better placed than many peers to weather market cycles.

The Metalnomist Commentary

US Antimony’s latest capital raise underlines how defence-linked offtake can unlock substantial private funding for critical minerals. If management successfully converts this cash into reliable mine-to-ingot capacity, the company could become a cornerstone of US antimony security. For other strategic metals developers, the model highlights the value of long-dated government contracts in de-risking large equity raises.