Resource Bull

Mining.com reported this afternoon that the U.S. Commerce Department said it will block exports of tungsten scrap because the metal is in great shortage. Tungsten is widely regarded as a critical mineral for modern missile production and broader munitions manufacturing, mainly because of its role in warheads, penetrators, and high‑temperature structural and guidance components. The DoD is very short of tungsten (and antimony) which is needed to replace the missiles that have been expended in the Iran/Ukraine wars. Additionally, "the U.S. does not have enough capacity to recycle all the scrap it produces." One hour later (nicely timed), Perpetua Resources released impressive exploration drill results for its Stibnite gold mine project, which is fully funded (with the help of the U.S. government) and where the pre-construction process has begun. From the press release: "First exploratory drilling in nearly a decade at Perpetua's Idaho properties returned significant, high-grade gold, antimony & tungsten results, including intercepts of 21.3 meters @ 3.2 g/t gold & 0.9% tungsten and 6.4 meters @ 16.2 g/t gold & 1.7% antimony at Yellow-Pine and 3.0 meters @ 14.5 g/t gold at Hangar Flats" And: "Historically, the Stibnite district was not only a major producer of antimony, but also one of America's most significant historical tungsten-producing regions. Following the discovery of tungsten at Yellow Pine by the U.S. Bureau of Mines and U.S. Geological Survey in the spring of 1941, production at Stibnite commenced just months later in August of that year. From 1941 to 1945, the Stibnite deposit produced more tungsten than any other mine in the United States with an estimated 611,284 short tons of ore produced averaging 1.645% WO₃. In total, this represented approximately 50% of all tungsten consumed by the United States during the Second World War and the Korean War." Perpetua (PPTA) appears to be in the right spot at the right time. mining.com/perpetua-discover…