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United States Antimony Corporation (UAMY) shares surged 20% to close at $13.43 following an announcement of its offer to acquire Australia-based Larvotto Resources Limited. This increase marked a total gain of 72.4% for the stock over the past four weeks. The transaction would position UAMY as one of the largest antimony producers outside China.
Larvotto Resources is advancing its Hillgrove Antimony-Gold Project in New South Wales, expected to begin production in 2026 and potentially supply around 7% of global antimony demand. Under the offer, Larvotto shareholders would receive six UAMY shares for every 100 shares held, which is a significant premium compared to recent trading levels.
UAMY anticipates quarterly earnings of $0.02 per share, reflecting a 300% year-over-year increase, with revenues projected at $12 million, a rise of 395.9% from the prior year. The deal awaits further negotiations and regulatory approvals before proceeding.
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