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 American:UAMY) has acquired 69 State of Alaska mining claims, covering 11,040 acres. The acquisition was based on recommendations from experienced geologists and historical data. A key target is an 8-foot-wide quartz vein with high copper content, averaging 16.5% copper, 0.076 opt gold, and 2.21 opt silver from 13 samples. The area is accessible via 10 miles of existing resource roads from a major highway.
This acquisition, along with recent claims in Ontario, Canada, expands USAC's strategic mineral reserves. The company is considering additional mining opportunities in Alaska and is in discussions with other claim holders. USAC emphasizes the importance of domestic critical mineral access, especially in light of China's recent decision to limit antimony sales globally.
United States Antimony (NYSE American:UAMY), known as "The Critical Minerals and ZEO Company," has announced its participation in the Sidoti August Virtual Investor Conference on August 14-15, 2024. Gary C. Evans, Chairman and Co-CEO, will present on August 14th at 1:00 PM ET and host one-on-one meetings with investors.
The presentation can be accessed live via a provided Zoom link. Investors can register for the presentation and one-on-ones at www.sidoti.com/events, with registration being free and open to all.
Additionally, UAMY released its Q2 2024 earnings on August 9th, 2024, highlighting progress in expanding production capabilities and improving financial performance. Detailed earnings information is available on the company's website.
United States Antimony (NYSE:UAMY) has acquired 97 mining claims and 3 mining leases in the Sudbury District of Ontario, Canada. The property, covering approximately 1,741 hectares, shows potential for high-grade cobalt, nickel, copper, bismuth, silver, and gold. This acquisition aligns with the Canadian government's billion-dollar plan to boost the critical minerals sector, focusing on cobalt, nickel, and copper.
The property's strategic location offers excellent accessibility via provincial highway and proximity to the Canadian Pacific Railroad. It's situated within 10 miles of the Sudbury Basin, Canada's premier mining district. Joe Bardswich, Director and Co-CEO, expressed excitement about the opportunity, highlighting USAC's control over four critical mineral ores: cobalt, nickel, bismuth, and antimony.
United States Antimony (NYSE American:UAMY) reported increased revenues and gross profit for Q2 and H1 2024. H1 2024 revenues rose 26% to $5.6 million, with gross profit up 122% to $950k. Q2 2024 saw a 24% revenue increase to $2.813 million and a 135% gross profit jump to $908.6k. The company reported net income from continuing operations of $30k for H1 2024.
Key highlights include:
- Bear River Zeolite operations improved with 94.3% runtime in Q2 2024
- Antimony prices nearly doubled from $5.31/lb to $10.64/lb due to supply issues
- Mexican operations shut down, now reported as 'Discontinued Operation'
- Cash position increased to $12.39 million as of June 30, 2024
The company aims to focus on critical minerals access, expand its zeolite business, and improve customer delivery reliability.
United States Antimony (NYSE:UAMY) has announced a webcast scheduled for Friday, August 9, 2024, at 3:15 PM Central Time to review the company's Second Quarter and Six Months Ended June 30, 2024 Operating and Financial Results. The webcast will last 60 minutes and include a Q&A session where questions can be submitted through the online portal. Participants can join via toll-free or international numbers using the access code 178356. Key speakers will include Gary C. Evans (Chairman and Co-CEO), Joseph Bardswich (Director and Co-CEO), and Rick Isaak (SVP and CFO). A replay of the webcast will be available until August 14, 2024, on the company's website under the Investors tab.
United States Antimony (NYSE:UAMY) has appointed Fred L. 'Pete' Bunger as a new Technical Advisory Director. Bunger, founder and President of ZEO, Inc., brings extensive expertise in zeolite products and applications. His company is a major customer of UAMY's subsidiary, Bear River Zeolite. Bunger's experience includes roles at Occidental Petroleum and DuPont, with a Ph.D. in Inorganic Chemistry. Chairman & Co-CEO Gary C. Evans praised Bunger's knowledge and contributions, highlighting ongoing collaboration on a potential new zeolite product. Bunger expressed enthusiasm for his new role, focusing on innovation and developing zeolite's potential to drive growth and deliver sustainable solutions globally.
United States Antimony (NYSE:UAMY) has launched a new zeolite cattle feed additive called CattleMax™ through its subsidiary, Bear River Zeolite Company (BRZ). The product will be part of BRZ's Zeo-True Naturals line and initially offered in bulk 'super sacks'. BRZ aims to expand its market share in the animal feed space, which currently accounts for 25% of its revenue. The company plans to offer competitive introductory pricing and develop smaller packaging sizes for smaller-scale customers. To support this expansion, USAC has hired Jonathan Miller as Global Sales Manager. Additionally, BRZ has unveiled a new logo representing the purity of its zeolite sourced from an Idaho deposit.
United States Antimony (NYSE:UAMY), a leading supplier of critical minerals, is set to present at the Battery & Precious Metals Virtual Investor Conference on July 23, 2024. Gary C. Evans, Chairman and Co-CEO, will lead the interactive online presentation at 10:30 AM EST, offering investors the opportunity to engage in real-time Q&A.
Recent highlights include:
- Appointment of new executive team members
- Record zeolite production in 2024
- Extensive drilling to determine zeolite reserves
- Efforts to dispose of non-core assets
- Record antimony prices globally
- Enhanced investor relations strategy
- 28% revenue growth in Q1 2024, reaching $2.83 million
U.S. Antimony (NYSE:UAMY) has appointed Jonathan Miller as Vice President of Investor Relations and Global Sales Director, effective July 22, 2024. Miller, 39, brings extensive experience from his previous role at SRAX, Inc., where he led significant revenue-driving initiatives. His expertise in securing strategic partnerships and achieving revenue growth is expected to be valuable in scaling USAC's business and enhancing investor relations.
Gary C. Evans, Chairman and Co-CEO of USAC, emphasized the importance of this appointment, stating that it's time to educate the investing public about the company's turnaround in operations and financial results. Miller's experience in marketing and storytelling through non-traditional forums is expected to help USAC reach a broader investment community, including both retail and institutional investors.
U.S. Antimony (NYSE American:UAMY) has appointed Aaron C. Tenesch as Vice President of its Antimony Division, effective July 15, 2024. Tenesch, 44, brings extensive experience in the mining industry, specializing in project development and flotation optimization. His background includes roles as Process Manager, Director of Plant and Milling Operations, and Mill Superintendent at various mining companies. Tenesch holds an M.Sc. in Geosciences from the University of Montana and has a history of academic achievements, including being nominated as a NASA McNair Scholar.
Joe Bardswich, Co-CEO of USAC, expressed confidence in Tenesch's appointment, citing his knowledge of product supply worldwide and valuable business contacts in the antimony industry. The company views this addition as important for their planned expansion of antimony operations.
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