AT4 Executes Share Purchase Agreement for US Refinery and Mine

Acquisition Deal Deemed Market-Moving

American Tungsten & Antimony Ltd (ASX:AT4) has confirmed that its recent announcement regarding the acquisition of the Del Sol refinery in Nevada and the White Spar Antimony mine in Arizona constitutes information a reasonable investor would expect to materially affect its share price. This affirmation came in response to an ASX aware letter seeking clarity on the timing and disclosure of the deal.

Execution and Disclosure Timeline

The company became aware of the acquisition’s definitive status only upon execution of the share sale and purchase agreement (SPA) at 8:28 pm AEST on 27 July 2026. Prior to this, negotiations had been ongoing since May 2026 under strict confidentiality and binding non-disclosure agreements. AT4 emphasised that no party was legally bound to proceed until the SPA was signed, and that information about the deal was limited to a small circle of insiders.

AT4 had observed unusual trading activity on 24 July 2026, with its share price jumping 30% and volumes spiking amid broader market interest in US antimony and tungsten supplies following a recent US executive order. In response, the company requested a trading halt that day to prevent uninformed trading while the acquisition was finalised and the formal announcement prepared.

Maintaining Confidentiality and Compliance

The company detailed that it monitored market movements and was prepared to act swiftly to protect confidential information. The trading halt lasted from 11:18 am AEST on 24 July until the announcement at 10:23 am AEST on 28 July, during which time no trading occurred. AT4 underscored that it released the announcement promptly after SPA execution, with no unnecessary delay, having completed necessary verifications and board approvals.

Regulatory Assurance and Next Steps

AT4 confirmed full compliance with ASX Listing Rule 3.1 on continuous disclosure, stating that the timing of release was consistent with guidance on incomplete proposals and confidentiality exceptions. The company’s responses were authorised by its board in line with its continuous disclosure policy.

Investors will be watching how this acquisition shapes AT4’s US operations, especially as the company prepares to ramp up processing capacity and expand product lines at the Del Sol refinery and White Spar mine, contingent on shareholder approval and regulatory clearances. The deal fits within AT4’s broader strategy to secure critical metals supply in the US, a theme that has attracted heightened market attention in recent months.