REDDIT
Nitric acid is LARGELY used in the refinement of gold and silver is anyone else looking at $LXU?
Because nitric acid is critical for the "parting" process, chemically separating silver and other metals from gold, refiners have no choice but to purchase it. This is a pickaxes and shovels play imo.
Furthermore, $LXU benefits from a significant geographic moat. Nitric acid is hazardous, highly corrosive, and prohibitively expensive to transport over long distances. This gives $LXU’s strategically located domestic plants a natural monopoly over regional refining hubs as well.