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 Corporation (UAMY) has received a notice from the New York Stock Exchange (NYSE) indicating non-compliance due to the failure to file its Annual Report on Form 10-K for the year ended December 31, 2022. The company has until October 17, 2023 to file the report, with the possibility of a six-month extension at NYSE's discretion.
The delay is attributed to the need for additional time by third-party auditors to complete the required audit procedures and review financial statements. While this notice does not immediately affect UAMY's stock listing, the NYSE has the authority to impose delisting procedures if compliance is not achieved. Management is actively working to finalize and file the report at the earliest opportunity.
United States Antimony Corporation (UAMY) announced that the Department of Defense (DOD) has approved its third and final sample of antimony trisulfide, crucial for munitions. The samples originated from ore at the Sierra Guadalupe mines in Zacatecas, Mexico, where UAMY acquired mining concessions in Q3 2022. This approval positions UAMY as the only North American source for antimony trisulfide for DOD applications. The Sierra Guadalupe mines historically produced high-grade antimony and will supply ore to UAMY's Puerto Blanco flotation facility for further processing.
United States Antimony Corporation (UAMY) provided its bi-monthly update for November and December 2022, reporting an antimony price of $5.76 per pound. The company achieved zero lost time or serious injuries, with no environmental incidents reported. Production figures highlight 3420 tons mined at Bear River Zeolite and 2057 tons shipped. However, operational delays affected production, notably due to a catastrophic cone crusher failure and labor bottlenecks. Despite setbacks, significant infrastructure improvements are underway, with expectations of enhanced production in the antimony and zeolite sectors. Future growth is anticipated from investment in facilities.
United States Antimony Corporation (UAMY) has scheduled an Investor Call for December 6, 2022, at 9 AM MST (11 AM EST). Interested parties can join via toll-free or international numbers provided. The call aims to discuss the company's operations and future plans, highlighting potential revenue growth and increased production. A remote replay will be available for 7 days using a specific confirmation code. However, the company cautions investors about reliance on forward-looking statements, due to inherent uncertainties and risks.
United States Antimony Corporation (UAMY) released an update for September and October 2022, reporting an antimony price of $5.31 per pound. The company achieved zero lost time incidents and environmental spills. Production included 177 tons mined and 2007.5 tons shipped from Bear River Zeolite. A decrease in production was noted due to supply issues from Canada and Mexico, now resolved with a record amount of ore at its smelter. Upgrades to operations and new equipment have been implemented, while mining operations in Mexico face legal and safety challenges.
United States Antimony Corporation reported a stable antimony price of $6.16 per pound in its bi-monthly update for July and August 2022. The company achieved zero lost time accidents and zero environmental incidents. Production metrics showed 195 tons of mined zeolite and 1,970 tons sold. The Montana operations are seeing improvements despite ongoing skilled labor shortages. The company is expanding its antimony production capabilities, including collaborations with Ambri and efforts to meet demand from the DOD, enhancing its outlook for future revenues.
US Antimony Corporation reported significant financial growth with Q2 2022 revenue reaching $3,587,925, a 57.7% increase year-over-year. The company sold 363,128 pounds of antimony at an average price of $6.81 per pound. Additionally, cash provided by operating activities improved to $745,038 from negative $2,236,609 in the same period last year. US Antimony has entered into agreements to acquire mining claims in Mexico, enhancing its operational capacity. The company also appointed two new board members to strengthen leadership.
FAQ
What is the current stock price of United States Antimony Corporation (UAMY)?
What is the market cap of United States Antimony Corporation (UAMY)?
What products does United States Antimony Corporation offer?
Where does United States Antimony Corporation operate?
What is the primary use of antimony oxide?
Why did USAC discontinue its Latin American operations?
What are zeolite's applications?
Where is USAC's antimony processing facility located?
What recent financial performance has USAC shown?
What partnerships or collaborations is USAC involved in?
What future plans does USAC have for its antimony operations?
What is the significance of antimony as a mineral?
