Mentioned:
Blue Moon Metals is buying up a ton of new exploration assets in the United States. But, why?
What’s happening:
- Blue Moon Metals (NASDAQ: BMM) has entered into a new deal to buy 33 new tungsten and antimony projects located in the United States of America
By the numbers:
- Blue Moon Metals will pay $20.5M USD in stock and cash to acquire the new projects
- Blue Moon Metals will also grant a 1% net smelter royalty on each of the 33 projects
Why it matters:
- This is the first time ever that Blue Moon Metals has acquired antimony projects
Going deeper:
- Blue Moon Metals owns the Springer Tungsten Mine and Mill complex located in Pershing County, Nevada which is a past-producing mine and one of the highest-grade tungsten deposits in the world
- The 33 new antimony and tungsten projects are exploration claims throughout Nevada, Colorado, Idaho and Arizona
The intrigue:
- Blue Moon Metals previously made waves when they entered into a deal with a subsidiary of Teck Resources (NYSE: TECK) to purchase their Apex gallium mine located in Utah
