You’d have by now encountered one or two former lithium (or nickel) companies moving into gold mining, which has been the boon for a handful of battery metals players that got, to put it politely, rooted by the lithium price crash.
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But there’s currently one quiet Australian stock having a pretty good run lately, and it’s a former uranium-focused company that’s actually moved into the critical minerals of the moment: Rare earths and antimony.
So it was that on Wednesday, energy nanocap Terra Uranium (ASX:T92) jumped nearly +14% in afternoon trades to nearly 7cps, which brings its one-month gains to +120%.
Even more interesting is that it’s staged much of this solid gain through a fairly quiet week of not having any news out at all.
So what’s going on? Investors are throwing money at the wall and seeing what sticks, basically, and that’s especially true for any cheaply valued stock that is exposed not only to antimony and rare earths but to those mineral assets in the U.S. – especially true after MP Materials had a stake bought by the U.S. Pentagon earlier this year which then went so far as to guarantee a price floor for key REEs. The thinking behind the buying goes, ‘Hey, that could be us. So let’s just buy everything.’
And that strategy has been a good one for a number of companies, but Terra stands out for being a uranium player that’s ditched the nuclear fuel feedstock and just gone to where the money is good. Back in late August, the company inked a deal with Axiom to acquire antimony and REE assets in the U.S., with the jurisdiction key.
“The Trump administration is proposing nearly $1 billion in funding to speed the development of U.S. critical minerals and materials,” Terra wrote on Aug. 25.
“The department intends to offer funding to advance and scale up mining, processing and manufacturing technologies in the critical minerals and materials supply chains – in line with Terra’s critical mineral strategy.”
T92 last traded at 6.7cps.
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