Gary Evans

"With respect to America's Gold and Silver joint venture... Last week we won a $27 million grant from the Department of War... We have a $45 million grant request in on the Department of Energy." The U.S. military is rapidly depleting its munitions stockpiles and relies heavily on China for critical minerals like antimony. To fix this national security vulnerability, the U.S. government is essentially subsidizing the CapEx for domestic miners. Companies with existing permits and joint ventures will see their timelines to cash flow drastically accelerated by non-dilutive government capital. LONG. Defense Production Act initiatives and DoD grants provide massive, derisked upside for domestic critical mineral operators. Government bureaucracy could delay grant payouts, or a change in administration/foreign policy could reopen Chinese supply lines, crashing the price of the underlying minerals.