United States Antimony Corp (UAMY)

[jrf30]

ANother raised target. And to a great price.

UAMY announced the formation of a joint-venture agreement with Americas Gold and Silver (USAS-not covered) with respect to plans for the construction and operation of a new critical minerals processing facility in the United States. The JV agreement expects to leverage UAMY's expertise in critical minerals processing alongside USAS' permitted site in Idaho and the producing Galena project in Idaho. We view this JV with USAS as a landmark agreement for the company and expect the two companies to pursue a streamlined path to construction and operation of the newly announced hydromet critical minerals processing facility. In short, we expect this agreement to significantly expand UAMY's critical minerals processing capabilities in the United States and view the JV as tangible evidence that UAMY is executing on its stated strategy to become a diversified domestic supplier of critical minerals. As such, we are reiterating our Buy rating and increasing our price target to $13.50 from $9.75 per share.