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 (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.
US Antimony has entered into a Collaboration Agreement with Perpetua Resources to explore the feasibility of processing antimony concentrates at US Antimony's facilities. This partnership aims to establish the only domestically mined and refined antimony products, leveraging the proximity of Perpetua's Stibnite Gold project in Idaho. US Antimony plans to evaluate samples from Perpetua to develop efficient processing techniques for separating precious metals from antimony, potentially enhancing US Antimony's output of antimony, gold, and silver.
United States Antimony Corporation (NYSE American: UAMY) will hold an investor call on April 7, 2021, at 4:15 PM EDT to discuss its 2020 10K results. Interested parties can join by dialing the toll-free number 1-800-367-2403 or the international number 1-334-777-6978. A remote replay will be available for seven days. The press release also includes a caution regarding forward-looking statements, emphasizing that actual results may differ due to various factors and uncertainties.
United States Antimony Corporation (NYSE AMERICAN:UAMY) received a Warning Letter from NYSE Regulation on February 18, 2021, due to rule violations regarding stock sales. The company sold a total of 26,290,000 shares without prior approval, which constituted approximately 34.4% of its outstanding stock. This included a sale of 15,300,000 shares at $0.70 per share and another of 10,990,000 shares at $1.30 per share. Trading has been halted since February 17, 2021, but is expected to resume after the press release is filed and a Current Report is submitted.
United States Antimony Corporation (NYSE:UAMY) announced the closing of a registered direct offering with institutional investors, raising approximately $14.3 million in gross proceeds. After fees, the net proceeds total $13.3 million. The company plans to allocate these funds for general corporate purposes, including infrastructure improvements at its operations in Mexico and Montana, a geochemical program at its Los Juarez property, and to retire some debt. The offering was facilitated by Roth Capital Partners.
United States Antimony Corporation (NYSE AMERICAN:UAMY) has announced a registered direct offering of 10,990,000 shares of common stock at $1.30 per share, projected to generate approximately $14.3 million in gross proceeds before fees. Roth Capital Partners serves as the sole placement agent for this offering, expected to close around February 16, 2021, pending customary conditions. The offering relies on a previously effective shelf registration statement, and details will be available via a prospectus supplement filed with the SEC.
US Antimony Corp. has released drill results from its Phase I exploration at the Los Juarez project in Queretaro, Mexico. The 1100-meter drill program, involving 25 holes, showed significant gold intercepts, particularly in the Puerta de Oro region and nearby Minas Grande area. Correlations between silver, gold, and antimony values were noted. The results indicate high geochemical anomalies that warrant further geological study. The company plans to allocate budget for additional geological mapping and geophysical studies prior to more drilling.
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