{
  "projectionVersion": "smpt-investigation-1",
  "projectId": "prj-us-usac-thompson-falls-expansion",
  "corpus": {
    "revision": "2026-11-03",
    "legalStatusCutoff": "2026-11-03",
    "view": "current_corpus_revision",
    "notice": "Curated corpus revision, not source freshness or historical known-as-of coverage. Financial histories retain their own status dates."
  },
  "project": {
    "id": "prj-us-usac-thompson-falls-expansion",
    "name": "Thompson Falls antimony processing and refining expansion",
    "sponsorOrgIds": [
      "org-us-antimony"
    ],
    "locations": [
      {
        "countryCode": "US",
        "subnational": "Montana",
        "asStated": "Thompson Falls, Montana"
      }
    ],
    "stages": [
      "processing",
      "refining"
    ],
    "materialIds": [
      "antimony"
    ],
    "materialAttribution": "tracked_only",
    "untrackedMaterialsAsStated": [],
    "evidence": [
      {
        "sourceId": "src-dow-usac-antimony-2026",
        "supports": [
          "name",
          "sponsors",
          "location",
          "stages",
          "materials"
        ],
        "evidence": "explicit",
        "locator": "Award scope: Thompson Falls facility expansion",
        "note": "Government identifies expansion of USAC's Montana antimony processing and refining capacity."
      },
      {
        "sourceId": "src-usac-2026-q1-call-sec-exhibit",
        "supports": [
          "name",
          "location",
          "stages",
          "materials"
        ],
        "evidence": "explicit",
        "locator": "Thompson Falls operational report and CEO's response on $27M award allocation",
        "note": "Recipient states $20M is for Thompson Falls; this is the allocation, not a claim that all $20M was paid."
      }
    ],
    "notes": "Part of the $27M DoW DPA Title III award. The company allocated $20M to Thompson Falls in its SEC-furnished May 2026 call transcript. The $12.8M first-quarter milestones/payment are not a second award."
  },
  "organizations": [
    {
      "id": "org-us-antimony",
      "name": "United States Antimony Corporation",
      "nameOriginal": null,
      "aliases": [
        "US Antimony Corporation",
        "USAC"
      ],
      "kind": "company",
      "roles": [
        {
          "role": "registered_sponsor",
          "recordId": "prj-us-usac-thompson-falls-expansion"
        },
        {
          "role": "recipient",
          "recordId": "fin-us-dow-usac-antimony-2026-thompson-falls"
        }
      ],
      "evidence": [
        {
          "sourceId": "src-usac-2026-q2-10q",
          "supports": [
            "name",
            "kind",
            "country"
          ],
          "evidence": "explicit",
          "locator": "Cover page; Note 9",
          "note": "SEC-filed quarterly report identifies the registrant and its U.S. operations."
        }
      ]
    },
    {
      "id": "org-us-dod",
      "name": "U.S. Department of Defense",
      "nameOriginal": null,
      "aliases": [
        "U.S. Department of War",
        "Department of War",
        "DoD"
      ],
      "kind": "government",
      "roles": [
        {
          "role": "provider",
          "recordId": "fin-us-dow-usac-antimony-2026-thompson-falls"
        }
      ],
      "evidence": [
        {
          "sourceId": "src-dod-mp-transaction-agreement-2025",
          "supports": [
            "name",
            "kind",
            "country",
            "actor"
          ],
          "evidence": "explicit",
          "locator": "Item 1.01, first paragraph",
          "note": "\"the United States Department of Defense (“Department of Defense” or “DoD”)\""
        },
        {
          "sourceId": "src-osc-vulcan-reelement-2025",
          "supports": [
            "name"
          ],
          "evidence": "explicit",
          "locator": "Third paragraph",
          "note": "\"Following the Department of War's agreement earlier this year with MP Materials\": the agreement the Form 8-K records with the Department of Defense, so one department under two names."
        }
      ]
    }
  ],
  "financialInstruments": [
    {
      "id": "fin-us-dow-usac-antimony-2026-thompson-falls",
      "eventId": "evt-us-dow-usac-antimony-2026",
      "instrument": "grant",
      "valueRole": "commitment",
      "capitalSource": "public",
      "projectRelationship": "directly_attributable",
      "projectId": "prj-us-usac-thompson-falls-expansion",
      "associatedProjectIds": [],
      "amount": {
        "value": "20000000",
        "currency": "USD",
        "qualifier": "exact",
        "amountAsStated": "$20 million for Thompson Falls",
        "currencyBasis": "issuer_context",
        "basisNote": null,
        "basisLabel": null
      },
      "amountBasis": "current_recorded_terms_not_historical_totals",
      "provider": "U.S. Department of War",
      "providerJurisdiction": "us",
      "providerOrgIds": [
        "org-us-dod"
      ],
      "recipient": "United States Antimony Corporation",
      "recipientOrgIds": [
        "org-us-antimony"
      ],
      "programmeId": null,
      "legalAuthority": "Defense Production Act Title III",
      "facility": null,
      "locations": [
        {
          "countryCode": "US",
          "subnational": "Montana",
          "asStated": "Thompson Falls, Montana"
        }
      ],
      "materialIds": [
        "antimony"
      ],
      "stages": [
        "processing",
        "refining"
      ],
      "currentFinancialStatus": "partially_disbursed",
      "financialStatusHistory": [
        {
          "status": "decided",
          "date": "2026-02-24",
          "sourceId": "src-dow-usac-antimony-2026",
          "note": "Part of the $27M award announced for February 24; its precise $20M allocation is disclosed later by the company."
        },
        {
          "status": "partially_disbursed",
          "date": null,
          "sourceId": "src-usac-2026-q2-10q",
          "note": "The filing states $12.8M received in April 2026 for accepted milestones, recognized against Thompson Falls construction in progress; no exact day is given."
        }
      ],
      "legacyPhysicalObservations": [],
      "terms": [],
      "statedOutcomes": [],
      "relationships": [
        {
          "commitmentId": "fin-us-dow-usac-antimony-2026",
          "relationship": "part_of",
          "sourceId": "src-usac-2026-q1-call-sec-exhibit",
          "locator": "Q&A: CEO response on the $27M DPA award split",
          "note": "This geographic allocation is part of the parent $27M award, not incremental funds."
        }
      ],
      "evidence": [
        {
          "sourceId": "src-dow-usac-antimony-2026",
          "supports": [
            "instrument",
            "value_role",
            "capital_source",
            "provider",
            "legal_authority",
            "recipient",
            "project",
            "location",
            "stages",
            "materials",
            "status"
          ],
          "evidence": "explicit",
          "locator": "Opening and award-scope paragraphs",
          "note": "Government names two work streams under one $27M DPA award; it does not state their individual amounts."
        },
        {
          "sourceId": "src-usac-2026-q1-call-sec-exhibit",
          "supports": [
            "amount",
            "relationships",
            "project",
            "location"
          ],
          "evidence": "explicit",
          "locator": "May 2026 SEC-furnished transcript: CEO answer to Jonathan Miller's funding allocation question",
          "note": "Company explicitly identifies the $20M Thompson Falls and $7M Alaska split. Does not establish separate obligations or disbursement."
        },
        {
          "sourceId": "src-usac-2026-q2-10q",
          "supports": [
            "status",
            "project",
            "location"
          ],
          "evidence": "explicit",
          "locator": "Note 9 — Government Grant and Property, Plant and Equipment",
          "note": "Confirms payment of $12.8M in April 2026, not the entire Thompson Falls $20M allocation."
        }
      ],
      "notes": "The recipient's SEC-furnished earnings-call transcript allocates $20M to Thompson Falls. Its Form 10-Q reports $12.8M of accepted milestones received in April 2026 and recorded against Thompson Falls construction in progress. Neither amount is incremental to the parent $27M award."
    }
  ],
  "nonallocativeAssociations": [],
  "designations": [],
  "nativeMilestones": [],
  "policyContexts": [
    {
      "id": "evt-us-dow-usac-antimony-2026",
      "relationship": "finance_or_designation_parent",
      "jurisdiction": "us",
      "issuingBody": "U.S. Department of War",
      "titleEn": "Department of War DPA support for United States Antimony Corporation",
      "titleOriginal": "Department of War Invests $27M for the Domestic Excavation, Extraction, Processing, and Refinement of Antimony",
      "documentNumber": null,
      "date": "2026-03-04",
      "policyStatus": "active",
      "sourceIds": [
        "src-dow-usac-antimony-2026",
        "src-usac-2026-q2-10q"
      ]
    }
  ],
  "coannouncedControls": [],
  "financePackageReferences": [
    {
      "childFinanceId": "fin-us-dow-usac-antimony-2026-thompson-falls",
      "parentFinanceId": "fin-us-dow-usac-antimony-2026",
      "relation": "part_of",
      "projectMoneyAllocation": "not_asserted",
      "evidence": [
        {
          "sourceId": "src-usac-2026-q1-call-sec-exhibit",
          "locator": "Q&A: CEO response on the $27M DPA award split"
        }
      ]
    }
  ],
  "unknowns": [
    "No project-native source-reviewed industrial milestone is published. Attributed activity in financing histories remains a separate evidence class; no exact milestone date or facility-wide conclusion is inferred.",
    "Historical amount review is incomplete. Current amounts cannot be read as a time series of earlier commitments.",
    "Structural links and shared materials do not demonstrate that a government measure caused an industrial outcome."
  ],
  "sources": [
    {
      "id": "src-dod-mp-transaction-agreement-2025",
      "title": "MP Materials Corp., Form 8-K (Transaction Agreement with the Department of Defense)",
      "publisher": "MP Materials Corp. / U.S. Securities and Exchange Commission (EDGAR)",
      "url": "https://www.sec.gov/Archives/edgar/data/1801368/000119312525157310/d43796d8k.htm",
      "language": "en",
      "sourceType": "other",
      "confidence": "primary",
      "publishedOn": "2025-07-10",
      "accessedOn": "2026-10-03"
    },
    {
      "id": "src-dow-usac-antimony-2026",
      "title": "Department of War Invests $27M for the Domestic Excavation, Extraction, Processing, and Refinement of Antimony",
      "publisher": "U.S. Department of War",
      "url": "https://www.war.gov/News/Releases/Release/Article/4421101/department-of-war-invests-27m-for-the-domestic-excavation-extraction-processing/",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2026-03-04",
      "accessedOn": "2026-10-02"
    },
    {
      "id": "src-osc-vulcan-reelement-2025",
      "title": "Office of Strategic Capital Agrees to Joint $700M Conditional Loan Commitment with Vulcan Elements and ReElement Technologies",
      "publisher": "U.S. Department of War (Office of Strategic Capital)",
      "url": "https://www.war.gov/News/Releases/Release/Article/4339788/office-of-strategic-capital-agrees-to-joint-700m-conditional-loan-commitment-wi/",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2025-11-21",
      "accessedOn": "2026-09-23"
    },
    {
      "id": "src-usac-2026-q1-call-sec-exhibit",
      "title": "United States Antimony Corporation, First Quarter 2026 Earnings Call Transcript (Exhibit 99.1 to Form 8-K)",
      "publisher": "United States Antimony Corporation / U.S. Securities and Exchange Commission (EDGAR)",
      "url": "https://www.sec.gov/Archives/edgar/data/101538/000110465926062742/tm2614820d1_ex99-1.htm",
      "language": "en",
      "sourceType": "other",
      "confidence": "primary",
      "publishedOn": "2026-05-15",
      "accessedOn": "2026-10-07"
    },
    {
      "id": "src-usac-2026-q2-10q",
      "title": "United States Antimony Corporation, Form 10-Q for the quarter ended June 30, 2026",
      "publisher": "United States Antimony Corporation / U.S. Securities and Exchange Commission (EDGAR)",
      "url": "https://www.sec.gov/Archives/edgar/data/101538/000110465926094035/uamy-20260630x10q.htm",
      "language": "en",
      "sourceType": "other",
      "confidence": "primary",
      "publishedOn": "2026-08-11",
      "accessedOn": "2026-10-02"
    }
  ],
  "limitations": [
    "Policy contexts here parent existing finance or designation records; a shared material or date never creates a causal edge.",
    "Coannounced controls are announcement siblings only, not project-specific restrictions or effects.",
    "Direct project attribution and nonallocative association are different. No individual monetary allocation, financial sum or payment conclusion is authorized.",
    "Financing statuses describe the current corpus revision. Legacy implementation observations require scoped review and are not project-native milestones.",
    "A milestone's event/target date, publication/access horizon and reviewer date are separate. A planned target is not automatically occurred.",
    "An absent reviewed milestone means no approved entry in SMPT, not that the facility is inactive or failed.",
    "Amounts retain current source-stated terms, original currency and exact decimal strings. This packet computes no historical financial totals or project-wide monetary allocation.",
    "Published source review does not establish independent on-site verification. Source, financial-status, occurrence, target and review dates remain distinct."
  ]
}