In Part 1 of my report on the unfolding tungsten crisis in the U.S., I told you the story of a metal that refused to reveal itself…
A metal hidden in stone for centuries… dismissed as useless… until it became the backbone of modern civilization.
Now let me show you what happens next.
Because today…
That same metal — tungsten — is at the center of a crisis that very few investors understand…
And even fewer are positioned for.
The Crisis Nobody Wants to Talk About
Right now, the United States has a dangerous problem.
We do not have a reliable domestic supply of tungsten.
Let me repeat that.
One of the most critical metals for modern industry and military power…
A metal essential for weapons, aerospace, electronics, and infrastructure…
Is largely imported from other nations.
And where is the majority of that supply?
China.
At a time when geopolitical tensions are rising… global supply chains are fragmenting… and resource nationalism is accelerating…
America is dependent on a foreign power for a metal it cannot replace.
That's not just an inconvenience.
That's a strategic and national security vulnerability.
Why Tungsten Matters More Than Ever
Tungsten is not just another industrial metal.
It is:
- The backbone of armor-piercing systems
- A critical component in missile and defense technologies
- Essential for high-temperature aerospace applications
- Embedded in nearly every advanced manufacturing process
And here's the key…
There are no easy substitutes.
That's what makes tungsten different from copper… from aluminum… even from lithium.
When tungsten supply tightens…
You don't switch materials. You pay higher prices.
Why Tungsten Is About to Have Its 'Antimony Moment'
We've already seen this movie before.
Just recently, antimony — a metal most investors had never heard of — went on an explosive run as supply constraints collided with rising demand.
One particular antimony stock — Perpetua Resources Corp. (PPTA:TSX; PPTA:NASDAQ) — went on one of the most explosive rallies ever seen in the stock market.
Perpetua is mining antimony in Idaho. Idaho has quickly become one of the hottest mineral mining districts on the planet. Remember this.
In fact, here's what Perpetua has done in the last several years:
Now look at tungsten.
You have the exact same setup:
- Supply is dominated by one country
- Growing military demand
- Rising industrial usage
- Limited new production coming online
And we're already seeing the early signals.
Take Almonty Industries Inc. (AII:TSX; ALM:NASDAQ; ALL:ASX; ALI:Frankfurt)…
One of the world's largest non-Chinese tungsten producers.
It's expanding aggressively into the U.S., acquiring advanced tungsten projects and positioning for near-term production — explicitly to meet Western demand.
Now look at tungsten.
You have the exact same setup:
- Supply is dominated by one country
- Growing military demand
- Rising industrial usage
- Limited new production coming online
And we're already seeing the early signals.
Take Almonty Industries…
One of the world's largest non-Chinese tungsten producers.
It's expanding aggressively into the U.S., acquiring advanced tungsten projects and positioning for near-term production — explicitly to meet Western demand.
That's not speculation.
That's smart money moving early.
And it's one of the reasons Almonty is trading at or near record highs.But Here's Where It Gets Interesting…
When a major player like Almonty starts moving…
That's usually the signal.
Not to chase the large-cap leader…
But to go one layer deeper.
Because that's where the real upside is.
Enter: American Tungsten Corp.
This is where the story shifts from macro…
To opportunity.
American Tungsten Corp. (TUNG:CSE; TUNGF:OTCQB; RK9:FSE) is not a giant.
It's a small, under-the-radar company doing something very specific…
And very important.
It is working to bring domestic tungsten production back to the United States.
I believe American Tungsten is about to go on a Perpetua- and Almonty-type rally that could push its stock up 1,000%.
Today, American Tungsten's stock trades for just about $2 a share. But it could see $20 easily.
Here's why…
The Idaho Project That Could Change Everything
At the center of this story is the IMA Mine Project in Idaho.
This isn't a conceptual exploration play.
This is a past-producing tungsten mine — with real history, real infrastructure, and real data behind it:
- It's located on patented land in Idaho.
- It previously produced about 199,000 MTUs of tungsten.
- It's backed by decades of exploration and development work.
- It's positioned for a potential restart.
This is critical.
Because in mining, the biggest risk is often: Is there actually something in the ground?
At IMA…
We already know the answer.
What They're Doing Right Now
American Tungsten isn't sitting still.
They are actively advancing the project toward production:
- Ongoing drilling is expanding known mineralization zones.
- Recent results show strong tungsten-silver intercepts across multiple veins.
- Tailings reprocessing is being evaluated as a near-term value unlock.
This is a multi-path development strategy:
- Restart historical production.
- Expand the resource base.
- Unlock additional value from existing material.
Why This Matters More Than You Think
Here's the big picture…
American Tungsten isn't just developing a mine.
It's positioning itself as part of a national solution.
Because if successful…
The IMA Mine could help supply a meaningful portion of U.S. tungsten demand — potentially up to around 8%, according to analysts.
Think about that.
One project.
Helping reduce dependence on foreign supply.
That's the kind of asset that doesn't just attract investors…
It attracts attention from governments, defense contractors, and strategic partners.
The Setup Is Almost Identical to Past Winners
Let's connect the dots.
Before the shale boom…
U.S. energy independence looked impossible.
Before the uranium rally…
Nuclear fuel shortages were ignored.
Before antimony surged…
No one cared about supply concentration.
And now?
We're seeing the same setup with tungsten.
- A critical metal
- A constrained supply chain
- A geopolitical catalyst
- And a domestic production gap
Why We're Buying TUNGF Here
This is not about chasing momentum.
This is about positioning early.
American Tungsten offers:
- A strategic U.S.-based asset
- A past-producing mine (lower development risk)
- Ongoing drilling success and expansion
- Exposure to a metal entering a structural supply crunch
And most importantly…
It's still early enough that the broader market hasn't fully caught on.
The Bottom Line
Tungsten is no longer just a "boring industrial metal."
It is becoming:
- A strategic asset
- A national security priority
- And potentially… one of the next major commodity breakouts
And the companies positioned to supply it domestically?
They won't stay small forever.
Because in the end…
This isn't just about tungsten. It's about something much bigger.
It's about the realization that the world is running on resources…
And the countries — and investors — who secure them first will win.
Action to Take:
We are initiating a position in American Tungsten at current levels.
Because this is exactly the kind of early-stage, under-the-radar opportunity…
That turns into a major winner when the world finally catches up to the story.
Get to the good, green grass first…
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Important Disclosures:
- Perpetua Resources Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Perpetua Resources Corp. and American Tungsten Corp.
- Brian Hicks: I, or members of my immediate household or family, own securities of: American Tungsten. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
- Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
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