A fresh Alaska resource report, a completed European acquisition, and a sector-wide surge are converging on critical minerals stocks at once, but the gains come with going-concern warnings and year-to-date losses that tell a different story beneath the surface.
Buying in critical minerals stocks is spreading across the group, lifting an antimony producer, a domestic rare earth magnet builder and a Greenland-focused developer together. United States Antimony (NYSE:UAMY) stock is at $3.17, up 11% early in the session, a move that puts the antimony producer at the front of the sector rally.
Likewise, USA Rare Earth (NASDAQ:USAR) stock is at $9.89, up 11%, matching the antimony producer’s gain. Critical Metals (NASDAQ:CRML) stock is at $6.91, up 8%, a smaller advance that still keeps the Greenland developer in step with the leaders.
Strength in the group also shows up in the VanEck Rare Earth and Strategic Metals ETF (NYSEARCA:REMX), which is up 4%. Against that, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.6%, leaving the rare earth fund well ahead of the overall market.
Nolan Creek Report and European Lithium Deal Sharpen Two Stories
United States Antimony announced a new technical report in the prior session on its wholly owned Nolan Creek gold and antimony property in northern Alaska, valuing the site’s measured and indicated resources at more than $314 million. That report gives the antimony producer a fresh asset story to pair with the sector bid.
Critical Metals announced that its acquisition of European Lithium has become legally effective. Holders of European Lithium stock will receive new Critical Metals shares, which are expected to begin trading on Nasdaq next month. The broader move still fits a group-wide rally.
Antimony, Magnets and Greenland Rare Earths Take Different Paths
United States Antimony mines and processes antimony, zeolite and precious metals at facilities in Montana and Mexico, and it holds a $245 million sole-source Defense Logistics Agency (DLA) supply contract. Even after the jump, United States Antimony shares remain down 37% year to date (YTD).
Critical Metals is developing the Tanbreez rare earth project in Greenland and the Wolfsberg lithium deposit in Austria, and both remain pre-revenue. With the gain, Critical Metals stock is down 0.6% YTD. Completion of the European Lithium deal marks progress, while the company’s reports still flag substantial doubt about its ability to continue as a going concern.
USA Rare Earth takes a different position, building a domestic rare earth magnet supply chain supported by its Stillwater, Oklahoma manufacturing plant and the Round Top deposit in Texas. A U.S. Department of Commerce CHIPS Act funding commitment backs the build-out. Despite the rebound, USA Rare Earth stock remains down 17% YTD.
The VanEck fund holds United States Antimony within a broad mix of rare earth, lithium, tungsten and molybdenum producers, and the ETF remains down 27% YTD. Its largest reported holdings include Xiamen Tungsten, PLS Group and Lynas Rare Earths, all listed outside the U.S.
United States Antimony’s Alaska Resource Still Has Work Ahead
A resource value remains an estimate set before mining, transport and processing costs, so the report’s headline figure could shrink once those expenses are totaled. Mining at Nolan Creek is tentatively planned to begin by year-end, and any delay could test the rebound in United States Antimony shares.
For USA Rare Earth and Critical Metals, the sector bid is lifting companies that are still building toward full output. Each still faces execution and funding risk that one rally doesn’t remove. Investors should consider keeping their position sizes modest until United States Antimony’s Nolan Creek plans resolve.
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