American Tungsten & Antimony raises $10M for US critical minerals
American Tungsten & Antimony (ASX:AT4) has secured $10 million through a firm share placement to accelerate its critical minerals strategy in the United States.
The capital raise, which drew strong backing from both institutional and sophisticated investors, will primarily fund the development of the company’s domestic hub-and-spoke critical minerals network.
The placement provides validation for AT4's asset base as the explorer progresses towards a dual listing on the Nasdaq Capital Market.
The freshly secured funds will be deployed immediately across several key projects in Utah and Nevada.
Key priorities include accelerating drilling operations at the Antimony Canyon Project in Utah—home to one of the largest undeveloped antimony deposits in the United States—and launching a maiden drilling campaign at the Tennessee Mountain Tungsten Project in Nevada.
The company will advance refurbishment works at its fully permitted processing mill at Dutch Mountain in Utah, which serves as a cornerstone for restarting production at its historically productive tungsten deposits.
AT4 Managing Director Andre Booyzen stated that the strong investor support underscores the strategic value of the company’s asset portfolio.
Booyzen highlighted that the overarching goal is to consolidate and restart production across these critical mineral hubs, establishing a domestically focused, vertically integrated antimony and tungsten value chain that spans mining, processing, and refining on US soil to support the rebuilding of local critical supply chains.
At the time of reporting, American Tungsten & Antimony’s share price was $0.074.
