American Tungsten and Antimony to Acquire Permitted Critical Metals Refinery in Nevada and White Spar Antimony Mine in Arizona

American Tungsten & Antimony (OTCQB: ATALF, ASX: AT4) has executed a Share and Purchase Agreement to acquire the Del Sol Refinery in Nevada and the White Spar Antimony Mine in Arizona, using a combination of cash and stock.

Rhea-AI Summary

American Tungsten & Antimony (OTCQB: ATALF, ASX: AT4) has executed a Share and Purchase Agreement to acquire the Del Sol Refinery in Nevada and the White Spar Antimony Mine in Arizona, using a combination of cash and stock.

According to American Tungsten & Antimony, Del Sol is a constructed and permitted antimony refinery in a U.S. market with limited domestic refining capability. Initial feedstock is expected from White Spar and the company’s Antimony Canyon project, enabling production of antimony metal flake and a pathway to military-specification antimony products within the U.S.

The company also plans to expand Del Sol’s hydrometallurgical infrastructure into tungsten APT production to reduce U.S. reliance on foreign sources. Management highlights this as supporting a mine-to-metal American supply chain amid U.S. government directives favoring domestic sourcing of critical minerals, complementing its existing antimony and tungsten projects in Utah and Nevada.

Positive

• Acquisition of Del Sol Refinery adds permitted U.S. antimony capacity
• Purchase of White Spar Mine secures domestic antimony feedstock
• Planned tungsten APT expansion leverages existing hydromet infrastructure
• Vertically integrated mine-to-metal strategy aligns with U.S. critical minerals policy

Negative

• Acquisition terms undisclosed beyond cash-and-stock structure
• No timeline provided for tungsten APT production ramp-up

Argus Jul 28 session

+11.19% close to close 0.3x rel. volume Open Argus

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News Market Reaction – ATALF

On Jul 28, the day this news came out, ATALF closed 11.19% above the previous close.

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Move Furthers Company's Establishment of Vertically Integrated, Domestic US Supply Chain for Tungsten and Antimony Products

NEW YORK, July 28, 2026 /PRNewswire/ -- American Tungsten & Antimony Limited (ASX: AT4; OTCQB: ATALF) announced the execution of a Share and Purchase Agreement to acquire the Del Sol Refinery in Nevada and the White Spar Antimony Mine in Arizona. The agreement consists of a combination of cash and stock. Specific details and other key information are available here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03114831-6A1335729&v=undefined.

"The Del Sol Refinery is a constructed and permitted antimony refinery in a market with minimal domestic capability," said Casper Adson, AT4 CEO. He noted that the mine, with initial feedstock from White Spar and Antimony Canyon can provide At4 with the ability to produce antimony metal flake and a roadmap into military specification antimony products domestically in the U.S. "Based on Del Sol's hydromet infrastructure, we are immediately planning for expansion into tungsten APT production with an aim of reducing U.S. reliance on this critical metal from Foreign Entities of Concern."

Tim Morrison, executive chair of At4 noted: "Our closest US-listed peer, United States Antimony Corp., relies substantially on ore sourced from outside the U.S. We believe that Del Sol has the ability to deliver to us a pathway to similar refining capability, with feed sourced from U.S. domestic sources, thereby allowing us to develop a true mine-to-metal American supply chain." He added that this comes at a time when Presidential Executive Order has mandated the defense industry to procure antimony, tungsten and other critical minerals, to shift their procurements to domestic suppliers where possible.

American Tungsten & Antimony (https://www.ataa.com) continues to advance a portfolio of antimony and tungsten projects in Utah and Nevada. Both minerals are designated as critical to U.S. national security, defense and advanced manufacturing. The company's portfolio includes the flagship Antimony Canyon Project in Utah, together with a portfolio of tungsten projects across Utah and Nevada, including Tennessee Mountain, Fraction Lode, Nightengale, Sage Hen and Dutch Mountain. The company is pursuing a U.S.-based hub-and-spoke processing and refining strategy aligned with U.S. government priorities for the security of domestic critical minerals supply chains.

View original content:https://www.prnewswire.com/news-releases/american-tungsten-and-antimony-to-acquire-permitted-critical-metals-refinery-in-nevada-and-white-spar-antimony-mine-in-arizona-302836579.html

SOURCE American Tungsten and Antimony

FAQ

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What is American Tungsten & Antimony (ATALF) acquiring with the Del Sol transaction?

American Tungsten & Antimony is acquiring the Del Sol antimony refinery in Nevada and the White Spar Antimony Mine in Arizona. According to American Tungsten & Antimony, Del Sol is a constructed and permitted refinery, supporting its strategy for a domestic mine-to-metal critical minerals supply chain.

How will the Del Sol Refinery acquisition affect ATALF’s U.S. antimony production?

The acquisition is expected to enable production of antimony metal flake and a pathway to military-specification antimony products in the U.S. According to American Tungsten & Antimony, feedstock is planned from White Spar and Antimony Canyon, strengthening domestic refining capability.

Does the American Tungsten & Antimony (ATALF) deal include tungsten APT production plans?

Yes, the company plans to expand Del Sol’s hydromet infrastructure into tungsten APT production. According to American Tungsten & Antimony, this aims to reduce U.S. reliance on tungsten sourced from Foreign Entities of Concern by adding domestic processing capacity.

How is the Del Sol and White Spar acquisition structured for American Tungsten & Antimony (ATALF)?

The Share and Purchase Agreement uses a combination of cash and stock as consideration. According to American Tungsten & Antimony, further specific details and key information on the transaction structure are available through its referenced disclosure materials.

Why is the ATALF acquisition of Del Sol and White Spar important for U.S. critical minerals supply chains?

The deal supports a vertically integrated, domestic supply chain for antimony and potentially tungsten. According to American Tungsten & Antimony, this aligns with U.S. government priorities and a Presidential Executive Order encouraging domestic sourcing of critical minerals for defense and advanced manufacturing.

How does American Tungsten & Antimony’s (ATALF) portfolio complement the Del Sol acquisition?

The company already holds antimony and tungsten projects in Utah and Nevada, including Antimony Canyon and several tungsten properties. According to American Tungsten & Antimony, combining these assets with Del Sol supports a U.S.-based hub-and-spoke processing and refining strategy.