Washington Is Redirecting Billions to U.S. Critical Minerals as America's New Cold War with China Heats Up. Who Will Profit Next?
Trump's bold $10 billion buying spree is fueling a profit windfall for select critical minerals companies. One small under-the-radar explorer in Nevada is sitting on what's potentially the biggest discovery in decades and could hand life-changing gains to early investors.
By Robert Ross • Chief Editor of the Let's Analyze Newsletter
Monday, March 16, 2025 3:00 P.M. CDT · 10 min read
Disseminated on Behalf of Nevgold Corp. (OTCQX: NAUFF); (TSXV: NAU.V)
On August 14, 2024, China sent shockwaves through global supply chains. Beijing restricted exports of a strategic metal called antimony that underpins critical U.S. defense systems and protects American troops in war zones. Four months later, it banned exports to U.S. military users altogether.
Antimony prices surged to nearly $50,000 per ton as the Red Dragon crushed global supplies.[1] The market was awakened to a brutal reality...
Despite spending roughly $874 billion on defense annually, the U.S. was dangerously dependent on a foreign adversary for a metal essential to that defense.[2]
Upon swearing in to his second term, President Trump took swift action to break China's stranglehold on the world's most essential metals. This included directing the U.S. Department of War to make a strategic investment in companies deemed vital to national security:
- A 15% stake in rare earth producer MP Materials[3]
- A 10% stake in lithium producer Lithium Americas[4]
- A 10% stake in minerals explorer Trilogy Metals[5]
MP Materials jumped 238% in just over three months...
"MP Materials strengthened its position as America's leading rare earth producer, launching its stock from $29 to $100 in just over three months."
... Lithium Americas surged 255% in a little over three weeks...
"Lithium Americas shares more than tripled in just over three weeks."
... and Trilogy Metals soared 440% in only eight days.
"Trilogy Metals soared 440% after securing major U.S. government backing."
Trump's $10 Billion War Chests
The Trump administration has committed more than $10 billion[6] in exchange for an ownership stake in eleven companies spanning semiconductors, nuclear energy, and rare earth minerals.
But Trump didn't stop there — the U.S. Department of War also recently announced:
- A $1.6 billion investment in rare earth producer USA Rare Earth[7]
- A $1.4 billion partnership with rare earth producer ReElement Technologies[8]
- Plus, a $245 million Pentagon contract awarded to US Antimony Corporation to supply antimony for the U.S. defense stockpile.[9]
"U.S. Antimony rallied after winning a $245 million Pentagon contract. NevGold's newest antimony discovery in Nevada is 15 to 85 times higher grade than its closest U.S. peer."
I see no reason to believe that Trump's billion-dollar buying spree will end anytime soon. On the contrary, with global tensions rising and the new Cold War with China heating up, I expect Washington's war chest to continue to grow.
And I've uncovered an early-stage mineral exploration company called NevGold Corp. (OTCQX: NAUFF; TSXV: NAU) that could be in a great position to take advantage of it.
This small company recently made a remarkable discovery deep in the Nevada desert — in the #1 ranked mining jurisdiction in North America — in what's called the "Bullet Zone."
Industry experts say it's the highest-grade discovery of antimony in the U.S. in decades, with an estimated $500 million worth of it sitting above-ground in historic leach pads. Plus, potentially billions worth of value in antimony and gold in a future near-surface open-pit mine after the leach pads are extracted.
Overall, NevGold controls a 100% domestic gold-antimony system with an estimated five million ounces of gold-equivalent.
Introducing Critical Metals Investing Expert Robert Ross
My name is Robert Ross. I'm an investing expert whose research and analysis has been featured in Time, MarketWatch, Business Insider, and The Hollywood Reporter, among others. I started my career as one of the youngest Chief Analysts in the investment research industry.
As lead stock analyst at a top-tier investment research firm for nearly a decade, I produced the research that landed on the desks of portfolio managers running multi-billion-dollar funds. Today, my focus is on helping individual investors like yourself to make smarter decisions and uncover high-potential opportunities most investors overlook.
As the founder and CEO of TikStocks, I break down what's happening in the markets to over 500,000 people each month through my social media platform. And thousands of hedge fund managers, registered investment advisors, and retail investors read my digital newsletter, Let's Analyze, each week — including subscribers from MIT, Harvard, Citadel, and Bridgewater Associates.
And right now, the search for domestic supplies of strategic metals matters more than ever. In the pages that follow, I'll share seven surprising reasons why my research and analysis tells me that NevGold Corp. (OTCQX: NAUFF; TSXV: NAU) could be a big winner.
The Metal That Hardens America's Bullets Soars Nearly 1,000% as China Cuts Off Supply
If you've never heard of antimony before, you're not alone. But the Pentagon knows it well, and that's precisely why this opportunity may be so asymmetric.
Antimony now sits at the intersection of defense, semiconductors, energy storage, and advanced manufacturing. More importantly, antimony is the element that hardens the lead in over 200 types of U.S. military ammunition.
In short, antimony is a necessity in modern warfare — yet, while the U.S. consumes about 25,000 tonnes of it each year, it currently produces none.[10]
China is the world's leading producer, accounting for 48 percent of global production and 63 percent of U.S. antimony imports. Together, China, Russia and Tajikistan control about 90% of global supply.[11]
The price of antimony rose from roughly $5,500 per tonne in 2019 to between $57,000 and $60,000 per tonne by mid-2025 — an increase of nearly 1,000%.[12]
The global antimony market was worth about $1.15 billion in 2025. It's projected to reach nearly $2.01 billion by 2034, growing at about 6.4% annually.[13]
History Shows This One Pattern Leads to Massive Capital Movement
In 1939 prior to entering WWII, America faced a similar crisis with antimony. In 1939, Congress passed emergency legislation called the Strategic and Critical Materials Stock Piling Act.[14] The Stibnite Mine near Yellow Pine in central Idaho went on to supply 90% of U.S. antimony from 1941 to 1945 — the antimony that hardened the bullets fired at Normandy and Iwo Jima.[15]
"The vise-tight grip that China wields over the mining and refining of rare minerals, crucial ingredients of today's most advanced technologies, is about to become even stronger."[16]
"Today, there are no viable domestic mining operations of antimony in the United States. This leaves critical defense productions dependent upon foreign suppliers — an unacceptable risk, especially given that the two largest reserves of antimony belong to two of the greatest U.S. adversaries: Russia and China."[17]
Billions Pour Into Critical Minerals as Washington and Wall Street Align
Washington has increasingly turned to the Defense Production Act to inject direct capital into domestic supply chains. Since 2022, Washington has deployed more than $500 million under the Defense Production Act Title III. In 2025 alone, another $100–$150 million was directed toward strategic metals, including a $43.4 million award for an antimony-focused project in Alaska.[18]
At the same time, the Export-Import Bank of the United States has activated its China and Transformational Exports Program, with up to $27 billion in lending authority to counter China's dominance in strategic supply chains.[19]
"The U.S. military said it plans to develop a fleet of small-scale refineries to produce critical minerals used to make bullets, armor and other types of weaponry… with antimony being the first mineral the military aims to refine."[20]
That's why I'm turning your attention to one of the most exciting opportunities I've seen in years. NevGold Corp. (OTCQX: NAUFF; TSXV: NAU), with its high-grade discovery that sits directly in the path of this accelerating federal capital, is precisely the kind of strategic asset Washington can no longer afford to ignore.
Seven Powerful Reasons Why NevGold (OTCQX: NAUFF; TSXV: NAU) Could Be the Most Asymmetric Critical Metals Play Today
Reason #1: 100% American Assets in the Best Mining Jurisdictions
NevGold's portfolio consists of four gold, antimony, and copper projects located in Nevada and Idaho — two of the best mining jurisdictions on planet Earth.
The respected Fraser Institute's Annual Survey of Mining Companies has consistently ranked Nevada as #1 in the United States, #1 in North America, and among the top two globally on its Investment Attractiveness Index.[21]
This is American antimony, from American soil, in America's best mining jurisdictions — with the full weight of U.S. policy shifting in favor of projects exactly like this.
Limousine Butte Gold-Antimony Project: Nevada, USA
NevGold's flagship Limousine Butte gold-antimony project in Nevada has exploration history dating back to the 1940s and 1950s. NevGold is targeting an initial mineral resource of approximately 3 million ounces of gold-equivalent, a combination of high-grade oxide gold and antimony.
Nutmeg Mountain Gold Project and Zeus Copper Project: Idaho, USA
At Nutmeg Mountain, NevGold's most recent Mineral Resource Estimate in 2025 defined roughly 1.2 million ounces of gold indicated and another 550,000 ounces inferred. When combined with the early-stage Zeus copper project, investors gain additional blue-sky exposure to a potential large-scale U.S. copper discovery.
Reason #2: The Highest-Grade Antimony Discovery in America
In late 2025, NevGold Corp. (OTCQX: NAUFF; TSXV: NAU) discovered the "Bullet Zone" at its Limousine Butte project in Nevada that contains the highest-grade oxide antimony ever reported by a U.S. company:
- 51% antimony over 4.6 meters
- 76% antimony over 4.6 meters
- Many additional results above 3% antimony
Perpetua's antimony grade? A mere 0.064%. NevGold's "Bullet Zone" is running 1% to 5.5% antimony — a 15 to 86 times higher grade. It's near the surface, it's oxide rock (so it's simpler to process), and every follow-up drill hole has hit mineralization.
Reason #3: Simple, Low-Cost Extraction with High Leverage
Limousine Butte is an oxide, near-surface deposit. The mineralization starts at surface and can be accessed with conventional open-pit, heap-leach mining — the simplest, lowest-cost form of mining. NevGold's 2025 metallurgical test work showed antimony recoveries averaging 75%–85% using conventional acid leaching.
A 10-to-1 Capital Cost Differential for Higher Potential Returns
Perpetua's Stibnite project has an estimated initial capital expenditure of about $2.2 billion.[22] NevGold's larger-scale commercial build has a capital expenditure of between $150 million and $200 million. That's a 10-to-1 capital cost differential, in a capital starved industry, for a project with dramatically higher antimony grades.
Reason #4: A Near-Term Revenue Engine Junior Miners Dream Of
NevGold Corp. (OTCQX: NAUFF; TSXV: NAU) already owns 2.4 to 3.0 million tonnes of mineralized material sitting at surface on leach pads at Limousine Butte:
- 1.4–1.7 million tonnes averaging 0.27% antimony and 0.34 g/t gold
- 1.0–1.3 million tonnes averaging 0.31% antimony and 0.18 g/t gold
This material could be in production by 2027. The value in the leach pads is estimated at over $500 million. The estimated capital required to build a processing facility? Around $30 million to $50 million. That's roughly a 16-to-1 value-to-capital ratio.
Reason #5: Multiple Projects, Multiple Ways to Win
Limousine Butte sits inside an active, capital-intensive mining district surrounded by billion-dollar operators:
- Freeport-McMoRan has a $33 million earn-in on the adjacent Butte Valley porphyry[23]
- Centerra Gold holds an earn-in on Cherry Creek to the northeast[24]
- South32 is actively working on Selena to the south[25]
At Nutmeg Mountain (September 2025 MRE): 1,200,000 ounces of gold (Indicated) at 0.50 g/t, and 550,000 ounces (Inferred) at 0.34 g/t. The strip ratio is less than 1:1 — incredibly efficient and economic. The Zeus Copper Project in Idaho sits on the emerging Hercules Copper Trend, where Barrick Gold invested C$30 million to $50 million for a 15% equity stake in a comparable discovery.[26]
Reason #6: A Management Team Forged By Nevada Mining
NevGold Corp. (OTCQX: NAUFF; TSXV: NAU) is being run by people who have already built mines in the exact jurisdiction where this story is unfolding, with a team that brings more than 150 years of combined experience.
Brandon Bonifacio, CEO — a mining engineer with a Master's degree in Mining Engineering and an MBA from the University of Nevada, Reno. Before NevGold, he served as Finance Director for the Norte Abierto Joint Venture working for Goldcorp, now part of Newmont.
Greg French, VP Exploration, has over 35 years of hands-on exploration experience and has taken two projects through feasibility and into production.
Bob McKnight, CFO, is a Professional Engineer with more than 40 years in mining and has been directly involved in over $1.5 billion in debt, equity, streaming, and M&A transactions.
Billion-Dollar Credentials Backing a $100 Million Company
Chairman Giulio Bonifacio founded and led Nevada Copper, raising over $700 million in equity and project debt over his career. Director Victor Bradley founded Yamana Gold and served as Chairman of Osisko Mining until its $4.1 billion sale to Agnico Eagle and Yamana. Director Tim Dyhr has 35 years of environmental permitting experience specifically in Nevada and Arizona.
Reason #7: A 39-to-1 Valuation Gap the Market Hasn't Closed... Yet
Perpetua Resources trades at a market capitalization of approximately $3.9 billion. NevGold Corp. (OTCQX: NAUFF; TSXV: NAU) trades at roughly $100 million, or a 39-to-1 valuation differential.
- NevGold's "Bullet Zone" antimony grades are 15 to 86 times higher than Perpetua's.
- NevGold's estimated CapEx is roughly 10% of Perpetua's ($200M vs. $2.2B).
- NevGold has a near-term production option (leach pads, ~$30M–$50M CapEx, 2027 timeline); Perpetua is on track for production by 2030.
Even applying $77 per ounce to a 4 million ounce combined resource implies a valuation of $308 million — or more than three times the current market cap.
I Believe NevGold Is Trading at a Dramatic Discount
At today's roughly $100 million market cap, NevGold Corp. (OTCQX: NAUFF; TSXV: NAU) is trading at a dramatic discount to comparable "per ounce" benchmarks — and that's before assigning any premium for high-grade antimony, U.S. strategic positioning, government funding potential, or near-term production optionality.
Bottom Line: NevGold Corp. Could Have a Blueprint for a Billion-Dollar Breakout
NevGold is perfectly set up to be the mining sector's breakout star in 2026. It offers a near-term antimony production pathway, a potential 4-5 million-ounce gold-equivalent resource base, a copper discovery wildcard, and district-scale validation from global majors.
NevGold's "Bullet Zone" discovery has returned intercepts grading 1% to over 5% antimony — 15 to 80 times higher grade than the average U.S. antimony project. Higher grade means lower operating costs, stronger margins, and greater strategic importance.
NevGold's estimated larger commercial mine build has a capital cost of roughly $200 million. The nearest comparable U.S. gold-antimony project has an estimated capital cost of $2.2 billion. That difference fundamentally alters risk, financing needs, and timeline to revenue.
A Potential Pathway to Revenue Measured in Years — Not Decades
NevGold controls previously mined and crushed material sitting at surface containing both gold and antimony. That creates a potential pathway to revenue measured in years, not decades.
I believe Wall Street will significantly reprice it, the mining majors will chase it, and early investors could see 5x… 10x… or even 20x returns from a position you can still open today for under a buck.
NevGold Has My Five-Star Rating
Of course, nothing in the markets is guaranteed. While NevGold Corp (OTCQX: NAUFF; TSXV: NAU) is gaining momentum, it's still early in its development curve. Which is why I encourage you to move smartly — only risk capital you can afford to lose and always do your due diligence.
To help you take the first step, I've written a Special Report titled The New Arsenal of Democracy: How a Tiny Miner Could Break China's Grip On a Critical War Mineral. And I'll send you a FREE copy when you sign up below now.
Best,
Robert Ross
Editor, Let's Analyze
References
[1] https://www.weforum.org/stories/2025/11/rare-earth-antimony-critical-mineral-supply/
[2] https://www.pgpf.org/article/budget-explainer-national-defense/
[3] https://www.cnbc.com/2025/07/10/...
[4] https://www.reuters.com/...
[5] https://www.cnbc.com/2025/10/07/...
[6] https://builtin.com/... [7] https://www.cnbc.com/2026/01/24/... [8] https://www.investing.com/...
[9] https://finance.yahoo.com/... [10] https://www.streetwisereports.com/...
[11] https://www.csis.org/... [12] https://discoveryalert.com.au/... [13] https://www.fortunebusinessinsights.com/...
[14]-[26] Additional references available at miningstocks.com/nauff/
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