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) reported a stable antimony price of $6.26 per pound and achieved zero lost time incidents during May and June 2022, alongside no environmental spills. The company mined 6,726 tons of zeolite, with 2,795 tons sold. The Montana smelter sold 148.38 tons of antimony trioxide and 1.65 tons of antimony metal. Production upgrades at Bear River Zeolite are ongoing, including warehouse completion and operational enhancements. The company is investigating additional ore sources in Mexico and Guatemala.
United States Antimony Corporation (UAMY) reported a record quarterly gross profit of $1,139,388 and net income of $786,252 for Q1, driven by antimony sales revenue of $2,828,930. The company sold 433,350 pounds of antimony at an average price of $6.53 per pound. Total quarterly revenue reached $3,580,306. Operationally, all locations achieved zero lost time accidents. The company continues to enhance production efficiency and pursue exploration opportunities in North and Central America, underscoring its commitment to growth.
United States Antimony Corporation has reported significant operational updates as of March 15, 2022. The company noted improvements in production efficiency across all its locations, with zero lost time accidents reported in January and February. The total sold tonnage of products increased by 46.6% compared to the same period last year. Additionally, the average sale price rose by 70%, with antimony trioxide sales seeing a 130% increase. A new exploration program at Los Juarez has begun, aiming to enhance resource extraction and processing.
United States Antimony Corporation reported strong performance for December 2021, achieving 1,837 tons of zeolite shipments amounting to $482,683. The annual total reached 14,040 tons and $3,027,259. Improvements in production processes are driving profitability, with further upgrades planned. The company noted zero accidents during the November-December period and successful upgrades across its operations. Notably, the Rotterdam average price for antimony has surged, showing stability at a 9-year high.
United States Antimony Corporation (NYSE:UAMY) has provided a corporate update outlining significant progress in its objectives for November 2021. The company emphasizes its commitment to increasing supplies of antimony, a critical mineral in North America, amid rising demand driven by potential applications in electrical storage batteries. Ongoing efforts include negotiations for a multi-year supply contract, assessments of advanced-stage mining operations, and exploration for additional properties. Furthermore, interest in joint ventures for gold and silver exploration in Mexico is noted, alongside investments aimed at enhancing production capacity of zeolite.
United States Antimony Corporation (NYSE:UAMY) released its October 2021 operational update, highlighting a month of zero accidents and no environmental incidents.
Production included 1,860 tons of mined Bear River Zeolite and 127,000 lbs of crude antimony metal. The company has increased production of antimony trisulfide and recycled materials. Challenges in customer trucking affected shipments.
Future plans include bi-monthly updates, operational improvements, and joint ventures for risk reduction.
United States Antimony Corporation (NYSE:UAMY) provided an operational update for September 2021, highlighting significant production and safety achievements.
Key metrics include 3700 tons of zeolite mined and 82,275 lbs of crude antimony metal produced.
Safety records were commendable with zero lost time or serious injuries reported.
Operational upgrades were reported, including the successful installation of a new jaw crusher and enhanced production capabilities at its smelting facilities.
The company is exploring joint ventures for future growth, although results have been slower than anticipated.
United States Antimony Corporation (UAMY) released its August 2021 Operations Update, announcing zero lost-time accidents and environmental incidents. Antimony prices have surged to over $12,000 per ton due to supply constraints. Madero's production totaled 92,326 lbs. of antimony trioxide, with plans for direct shipping to customers. Upgrades included a new jaw crusher at Bear River Zeolite, enhancing efficiency. The company continues securing new antimony sources in North America. Forward-looking statements caution investors about potential uncertainties in future performance.
United States Antimony Corporation (UAMY) released its July 2021 operational update, highlighting zero lost time accidents and no environmental incidents. Production included 861 tons mined and 1,042 tons shipped from Bear River Zeolite, along with 42,500 pounds of antimony trioxide from the Madero Smelter. Significant upgrades are underway at both facilities, with the potential for enhanced productivity. The company is also exploring joint ventures to expand its resource base. Notably, Ambri Inc. has increased its antimony orders following successful tests, signaling a potential boost in consumption.
United States Antimony Corporation (NYSE American: UAMY) announced the appointment of Christopher Park as an additional director effective June 23, 2021. With extensive experience in financial management within the mining sector, Park's expertise fulfills SEC requirements for a financial expert on the board. The company reports increased production and sales of antimony, driven by high prices and strategic hiring. Additionally, improvements at the Madero smelter aim to enhance production efficiency. However, labor availability remains a challenge at its Montana plant.
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