The US just got its first and only domestic producer of two metals the entire defense industry runs on.
Stock IPO’d at $14 in April and nobody is talking about it.
Here it is:
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ELMT Elmet Group.
The only US-owned vertically integrated producer of tungsten, molybdenum, and specialty alloys.
Full process. Powder to sintering to precision-machined components. No China reliance.
Two divisions. Critical Materials. Engineered Microwave Products.
Tungsten has the highest melting point of any metal.
Molybdenum holds up in heat, corrosion, and radiation.
Used where failure is not an option.
Missiles, hypersonics, satellites, directed-energy weapons, nuclear and fusion research, semis and medical imaging.
The customer list is the entire US defense and space apparatus.
100+ active DoD programs.
NASA, including Artemis.
Lockheed Martin, raytheon, teledyne.
Los Alamos and Fermi national labs.
Not nice-to-haves. Mission-critical for American defense, space, and tech.
China controls ~80% of global tungsten supply and has been restricting exports.
US reshoring momentum. Record defense spending. New space race.
IPO in April raised ~$120M. Run-rate revenue ~$202M. Growing backlog. Market cap still only ~$450M.
Stock price: $15.28
ELMT is a pure play on US supply-chain sovereignty in the materials that power the future of defense and tech.
Tiny cap, real strategic importance, real customers, real revenue.
ZERO coverage yet.
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