Welcome to our dedicated page for United States Antimony Corporation news (Ticker: UAMY), a resource for investors and traders seeking the latest updates and insights on United States Antimony Corporation stock.
United States Antimony Corporation (NYSE American: UAMY) is a diversified mining, transportation, milling, smelting, and sales company with a primary focus on antimony, silver, gold, and zeolite products in the United States and Canada. The company operates through four key segments: United States Antimony, Mexican Antimony, Zeolite, and Precious Metals.
The company’s Antimony Division offers a range of products, including antimony oxide, used extensively as a flame retardant component in plastics, rubber, fiberglass, textiles, paints, coatings, and paper. Antimony oxide also serves as a color fastener in paints, a catalyst for polyester resins and polyethylene terephthalate production, a phosphorescent agent in fluorescent bulbs, and an opacifier for porcelains. Additional products include sodium antimonite for glass fining and flame retardants, antimony metal for bearings, storage batteries, and ordnance, and other precious metals.
The Zeolite Division focuses on the mining and processing of zeolite, an industrial mineral with applications in soil amendment, fertilizer, water filtration, sewage treatment, nuclear waste cleanup, odor control, gas separation, and animal nutrition. Zeolite is mined from the company’s deposits in southeastern Idaho.
Recently, United States Antimony Corporation has made significant strategic moves, including the planned discontinuation of all Latin America operations. This includes the closure of its Madero smelter facility and Puerto Blanco mining facility in Mexico. The decision was driven by consistent negative cash flow and operational challenges, such as stringent new mining laws, safety concerns, and uncollectible tax amounts from the Mexican government.
The company continues its profitable antimony operations at its Thompson Falls, Montana facility, sourcing raw material from Canada. USAC is also exploring new antimony deposits in Alaska and Canada and collaborating with U.S. governmental departments for potential grants and loans.
USAC's financial performance has seen positive trends, with a 28% increase in revenue in the first quarter of 2024 compared to the same period in 2023. The company's gross profit increased by 108% due to improved operational efficiencies and strategic closures. Despite increased operating expenses, the company reported net income of $86k for Q1 2024 and maintains a robust cash position of $11.94 million as of March 31, 2024.
United States Antimony Corporation is dedicated to maintaining its strong market position and continues to explore new opportunities to expand its product offerings and improve operational efficiencies.
United States Antimony (NYSE:UAMY) has secured a new international contract for antimony shipments from Australia and plans to restart its Madero, Mexico smelter. The facility, which was shut down in March 2024 due to lack of economic antimony material, will undergo capital improvements estimated at less than $1 Million, including refractory relining of rotary furnaces and maintenance work.
The Madero smelter has an engineered capacity of 200 tons per month. Initial shipments are expected to arrive at Mexico's Manzanillo port in March 2025 after a 75-day ocean voyage. The company anticipates potential increases in antimony ore quantities up to 300 tons per month as they optimize processing operations for the new material.
United States Antimony (NYSE AMERICAN:UAMY) announced the relocation of its corporate headquarters from Thompson Falls, Montana, to Dallas, Texas, with no associated transition costs. The company also revealed key management changes effective December 9, 2024: Gary C. Evans has assumed the Chief Executive role while continuing as Chairman, and Joe Bardswich becomes Executive Vice President and Chief Mining Engineer, while remaining a board member and President of new mining subsidiaries.
The restructuring aims to better align roles and responsibilities, with Evans focusing on corporate leadership and Bardswich concentrating on mining operations and production. The company emphasizes its transformation over the past year and plans to expedite mining prospect development from the typical 25-year timeline to less than one year, focusing on previously discovered ore deposits on private and State/Provincial properties.
United States Antimony (NYSE AMERICAN:UAMY) has announced its participation in The Benchmark Company's 13th Annual Discovery One-on-One Investor Conference. The event is scheduled for December 11, 2024, at the New York Athletic Club in New York City. During the conference, USAC management will engage in one-on-one meetings with investors and analysts, providing an opportunity for direct interaction with institutional and individual investors.
Perpetua Resources (Nasdaq: PPTA) has announced a collaboration with U.S. Antimony (NYSE: UAMY) to conduct metallurgical testing of antimony concentrate samples from the Stibnite Gold Project. The project contains an antimony reserve of 148 million pounds, representing the only U.S. domestic reserve and one of the largest reserves outside Chinese influence.
The Stibnite Gold Project is projected to supply approximately 35% of total U.S. antimony demand during its first six years of operations, according to the 2023 USGS antimony commodity summary. USAC's Montana-based facility has potential capabilities to process certain quantities of antimony concentrate from the project, supporting efforts to establish a fully domestic antimony supply chain.
United States Antimony (NYSE: UAMY) has signed a Metallurgical Testing Agreement with Perpetua Resources to evaluate antimony-rich material from Perpetua's Stibnite Gold Project in Idaho. The agreement involves testing antimony ore samples at USAC's Montana facility to assess potential commercial production specifications.
The announcement comes amid record-high antimony prices, which have increased 230% since the beginning of the year to over $39,000 per metric ton in Rotterdam. This surge is attributed to depleting domestic resources in China and recent Chinese export restrictions to the United States. The collaboration aims to advance domestic antimony supply chain capabilities, addressing needs in defense, solar panels, semiconductors, fire retardants, and roofing materials industries.
United States Antimony (NYSE American:UAMY) announces its participation in NobleCon20, Noble Capital Markets' Twentieth Annual Emerging Growth Equity Conference at Florida Atlantic University. Gary C. Evans, Chairman and Co-CEO, will present on December 3, 2024, at 10:00 am EST, followed by Q&A and one-on-one investor meetings. A video webcast will be available on the company's website, Noble Capital Markets' Conference website, and Channelchek, remaining archived for 90 days.
United States Antimony (NYSE:UAMY) reported Q3 and nine months 2024 financial results, showing revenue growth of 23% to $8.066 million for the first nine months. Gross profit increased 107% to $2.157 million, while operating expenses rose by $1.764 million to $3.285 million. The company reported a net loss of $653k from continuing operations.
Notable developments include improved operations at Bear River Zeolite with 93% efficiency runtime, and antimony prices surging from $5.31 to $17 per pound. The company has ceased operations in Mexico and maintains a strong cash position of $12.97 million. UAMY is actively pursuing new mining leases in Ontario and Alaska for antimony and other critical minerals.
United States Antimony (NYSE:UAMY) has announced a webcast scheduled for Tuesday, November 12, 2024, at 3:15 PM Central Time to discuss their Third Quarter and Nine Months Ended September 30, 2024 Operating and Financial Results. The 60-minute webcast will feature presentations from key executives including Gary C. Evans (Chairman and Co-CEO), Joseph Bardswich (Director and Co-CEO), Rick Isaak (CFO), and Jonathan Miller (VP, Investor Relations). Participants can join via toll-free or international numbers, and questions can be submitted through the online portal. The webcast replay will be available until November 25, 2024.
United States Antimony (NYSE:UAMY) has expanded its Alaska mining presence by staking 24 new claims totaling 3,840 acres near Stibnite Creek in the Tok area. This addition brings UAMY's total Alaskan claims to 93, covering 14,880 acres. The newly claimed area is historically rich in antimony mineralization, along with deposits of gold, silver, copper, and zinc. The expansion aims to secure domestic critical minerals sources, particularly significant given China's recent ban on antimony exports. As North America's only antimony smelter, UAMY seeks to become fully integrated with raw ore sources, flotation capabilities, and smelting operations.
United States Antimony (NYSE: UAMY) has announced its participation in The ThinkEquity Conference, scheduled for October 30, 2024, at the Mandarin Oriental Hotel in New York. Gary C. Evans, Chairman and co-CEO, will deliver a presentation at 8:00 a.m. ET. The conference brings together institutional investors, corporate clients, and industry professionals to showcase innovations and financial strategies. Company management will also conduct one-on-one investor meetings throughout the event.
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