Reid

Long term investor. My own opinions. $IREN & $UAMY

[Reid @ReidoFinancial]

$UAMY

Bullish on this name. (A must read below) 🧵

United States Antimony Corporation (USAC)

USAC is the only fully integrated Antimony company in the United States outside of China & Russia. Read that again.

You may wonder what that means… but first off who is the leader of this company?

Gary Evans (CEO & Chairman): Gary is a no bull shit type of person. He brings a wealth of knowledge to the table having led other successful public companies in the past. Go look up him up & listen to him speak - you'll be VERY impressed. Gary is pounding the table on how important this company is to the USA, as China controls a majority of the world's critical mineral supply. The Trump administration is hyper-focused on shoring up access to critical minerals & USAC is moving at warp speed to accomplish this. (They are working in tandem with the government)

USAC extracts minerals including: antimony, gold, silver, tungsten, copper, zeolite & more.

Antimony --> operations located in Thompson Falls, Montana. Accounts for a majority of revenue currently.

Antimony is a critical mineral that is used in military ammunition, data centers & more. China controls ~90% of the world's supply. Look into this on your own… you'll be quite surprised what you find. The company announced a $248 million contract to deliver antimony ingots to the U.S government over 5 years with $75 million occurring in 2026. Additionally, the company announced a $106.7 million industrial antimony contract they'll deliver over 5 years. The CEO Gary Evans literally took these guys on his boat fishing & joked about more business coming down the pipe because of it. USAC is also completing an expansion of its Antimony smelting operations in Montana where they will be able to receive antimony from countries around the world & smelt it into acceptable grades of antimony.  This expansion triples their smelting capabilities & the coolest part about this site is a previous company shutdown operations here in 1983 & USAC is reviving this operation. I believe there will be more contracts coming down the pipe.

USAC is also beginning new operations/exploration in Alaska that will increase their critical mineral capabilities. They expect to extract antimony, gold, silver, & copper here. USAC is very excited about their Alaska operations & Gary believes that this will be a MASSIVE part of their future.

Tungsten --> This is a new venture located in Ontario, Canada. The company shared that this site has inferred resource value of $4.6 billion. Yes, $4.6 billion. USAC just filed a resource report with the SEC for this. Huge opportunity here.

Zeolite --> located in Preston, Idaho, Zeolite has many applications. USAC uses Zeolite for water treatment & agriculture. Water treatment accounts for 75% of revs in this segment. Although this is small % of revs, Gary has said they are in talks with major public/private companies about this division. It will be interesting to see how this part of the company evolves over time. I expect this to get big one day.

Investor Relations:

USAC has just recently been listed on the NYSE which of course is a major catalyst for exposure. In 2025, Gary & Jonathan Miller (investor relations) met with 350 institutional funds for one on one meetings. Institutional ownership has (& is) sky rocketing in this name. Having this type of exposure is very bullish and visit @USAC_Bull profile as he highlighted this recently.

Financials & Capital Markets:

2025 revenues: ~$39million (in line with guidance) & COGS of $29.38 million.

USAC is a profitable company when you take out non-cash items such as stock based comp. Gross margins for the entire company are 25%. I expect this to increase moving into the future, but again this company is PROFITABLE with less than $40 mil in revs.

USAC has forecasted 2026 revs to be $125 million. (More than triple)

Debt --> USAC has $195,000 (thousand) in Debt. Yes you read that correctly. The CEO is adamant on keeping debt at a minimum & I believe he will keep his word. He has publicly stated that as a mining company he wants debt near zero. He has also stated that they are in conversation with the U.S government regularly about receiving grants. They have already received a $27 million grant from the government.

Cash --> USAC had $91.3 million in cash on hand as of 12/31/2025 - This is a healthy amount heading into 2026 USAC could receive government funding in 2026 as another source of cash (see above).

Employees --> USAC has ~ 100 employees showing that its lean yet efficient. I expect this to increase but not rapidly - as Gary seems to run a tight ship here. Again, Gary does not mess around, he hires very skilled individuals.

Board of Directors:

General Jack Keane sits on the board of directors for USAC. He is a retired four star general leading national security and foreign policy with a 37 year military career. (massive respect) He knows how important critical minerals are and is a key asset to USAC. This guy most likely has MASSIVE connections to the current administration. Go read his bio its impressive.

I will not bore you with rest of the board (go see for yourself), but they also have a guy with 40 years of mining experience who sounds like all he's done is inhale dust, smoke cigs, & chew tobacco. His name is Joe Bardswich -he seems bad ass & knows his 💩

Risks:

Of course there are risks here. Such as, seasonality of mining seasons which could lead to revenue being lumpy. Spot price volatility could play a factor, and we all know small caps are very exposed to the ups & downs of macro. They also need to execute on plan. With high risk comes high reward.

Conclusion:

Shoutout to Topher & Associates for bringing up this name. This is a VERY high level post, and I do not claim to be an expert on any of this and these are my own opinions from listening to the 2025 Q4 call.

Gary Evans is building a critical mineral powerhouse and is the real deal CEO. GO LISTEN TO THE Q4 2025 CALL & I believe you will be quite surprised. I believe this company is setup to have great success. Do your own research.

Thanks for reading.

[Reid @ReidoFinancial]

$IBIT

Added some exposure today.

Will continue to add on weakness - also nice signal here!

[Jesse🔋 @srvc76]

$BTC

I’m a buyer at $30k. 🙂

[Reid @ReidoFinancial]

@StockTrader_Max That market is not pricing in anything beyond 2027 at current levels

[Reid @ReidoFinancial]

@TopherGotWifi 🔥

[Reid @ReidoFinancial]

@mathewjdp LMFAO 🤣

[Daniel Roberts @danroberts0101]

𝐓𝐡𝐫𝐞𝐞 𝐋𝐚𝐲𝐞𝐫𝐬. 𝐎𝐧𝐞 𝐂𝐨𝐦𝐩𝐨𝐮𝐧𝐝𝐢𝐧𝐠 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞. 𝐓𝐡𝐞 𝐈𝐑𝐄𝐍 𝐓𝐡𝐞𝐬𝐢𝐬.

There's been a lot happening at IREN recently.

Expansion across North America, Europe and Asia-Pacific.

The NVIDIA partnership.
The Mirantis acquisition.
New GPU deployments.
New customer discussions.
A growing global footprint.

Underneath all of it is a fairly simple view of where the world is heading, and a deliberate strategy for how we position IREN within it.

That strategy is built on three layers. Together, they compound into a structural advantage that gets harder to replicate every quarter we execute.

Layer 1: Physical infrastructure. Power, land, substations, data centers, cooling. The foundation that everything else sits on.

Layer 2: Compute infrastructure. The GPUs, servers and networking that go inside those buildings. Deployed at scale. Generating revenue. Building execution track record.

Layer 3: Software and operational capability. The orchestration, deployment tooling and enterprise expertise that makes the first two layers work harder for customers, and opens the door to a broader, higher-value market over time.

Layers 1 and 2 are where the overwhelming majority of IREN's value is being created today. Layer 3 is where that advantage compounds further over time, but only because Layers 1 and 2 are built, owned and controlled at scale by IREN, not subscale nor contracted from a third party.

Think of Amazon. They didn't win e-commerce by building a great website. They won it by controlling the fulfilment infrastructure at a scale nobody else could replicate. The foundation you don't control becomes the ceiling on your business.

That is exactly how we think about IREN. The physical infrastructure - the land, the power, the substations, the data centers - is owned and controlled by us. The compute deployed into it generates the revenue and execution track record. And the software, orchestration and enterprise capability we are more methodically building on top is what turns the total product into a vertically integrated AI Cloud platform that compounds over time and deepens into a competitive moat.

AI is still early. The bottleneck is increasingly physical. And we have spent eight years building the foundations.

[Reid @ReidoFinancial]

@TechniCameron @Nashaway The entire rare earth sector is ripping back today.

But, the $7’s were a gift

[Reid @ReidoFinancial]

@USAC_Bull

[Reid @ReidoFinancial]

@emma_mackenziie This is a major reason I don’t watch NBA

[Reid @ReidoFinancial]

@TopherGotWifi @shoogahsnaps Also looking to hear if there were any new fishing trips

[Reid @ReidoFinancial]

This management team absolutely blows Eos out of the water. Not even in the same stratosphere.

I am very entertained to watch people opine on this company while they are perma long a company with -90% margins just burning cash into a blast furnace.

Almost 2 years now since SOTA line 1 first equipment arrived. 750 employees taking multiple cig breaks a day collecting a nice paycheck watching Joe fumble fuck around in his Patagonia vest.

Would love to see @srvc76 scrutinize the company just once in his lifetime. The day that happens is the day I go to the grave. Being a community member with all the attention is awesome isn’t it?

Let’s see you use this same energy towards Eos. Oh wait. You won’t.

[Reid @ReidoFinancial]

$IREN

Very bullish signal here

[Jesse🔋 @srvc76]

$IREN

… Where’s the 10-Q?

Did Anthony hit the ATM on NVIDIA headline?

[Reid @ReidoFinancial]

@xEBITDA Very bullish

[Reid @ReidoFinancial]

@TopherGotWifi @srvc76 Nice ratio

[Daniel Roberts @danroberts0101]

A big day. Earnings call will proceed as scheduled in 20 minutes. $IREN $NVDA

https://t.co/nstrw2Qyvg

[Reid @ReidoFinancial]

$IREN

BOOM!

[Reid @ReidoFinancial]

$UAMY

On a tear 👀

[Montana Magnet @USAC_Bull]

135 trading days since $UAMY closed above $12.50.

the thaw is upon us. 🧊

[Reid @ReidoFinancial]

$IREN / $UAMY

[Reid @ReidoFinancial]

@Nashaway Everyone so interested in the day to day price action rather than the overall direction of the company.

+109% YTD - there will be plenty of volatility both directions

[Reid @ReidoFinancial]

@x_times_1 $200 million run rate with -90% margins though

[Reid @ReidoFinancial]

@CockedStriker @danroberts0101 This was also first thing that came to mind when I read the PR