US Antimony Sets Q1 Gross Profit & Net Income Records Updates March-April Operational Details

Rhea-AI Summary

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.

Positive

• Record quarterly gross profit of $1,139,388.
• Net income increased to $786,252.
• Quarterly antimony sales revenue reached $2,828,930.
• Total quarterly revenue was $3,580,306.
• Zero lost time accidents reported during the period.
• Ongoing improvements in production efficiency.

Negative

• None.

THOMPSON FALLS, MT / ACCESSWIRE / May 16, 2022 / United States Antimony Corporation (USAC-the Company) reports a record quarterly gross profit of $1,139,388 and record Net Income of $786,252 spurred by a quarterly antimony sales revenue of $2,828,930. The average realized price per pound of the contained 433,350 pounds of antimony was $6.53 per pound. Antimony oxide sales were 413,235 pounds and antimony metal sales were 90,365 pounds. The company expects high antimony prices to continue in the immediate term. Revenue from other operations brought total quarterly revenue to $3,580,306.

Detailed financial information is included in the USAC quarterly filings (10 Q) with the SEC at UNITED STATES ANTIMONY CORP [UAMY] Filings | Quick10K (q10k.com)

The on-going program of improvements in production and efficiency continues to provide positive results at all locations. Exploration and mineral property assessments continue in North and Central America with the objective of acquiring additional sources of raw materials. Relationships with third party end users and potential suppliers continue to be enhanced through research efforts and supply of test material.

Operations Updated- March and April

Safety and Environmental

All Company operations reported zero lost time or serious injury accidents during the March -April Period.

There were zero environmental spills, discharges, or incidents during the period. The previously announced (see NR- Jan. 15, 2022 and March 15, 2022) pro-active program of legacy slag clean-up at the Madero Smelter continued and is now 86% complete. Concurrently, the Company has aggressively reduced its stockpile of legacy slags in Montana with shipments of 20 tons in March and 40 tons in April, reducing the stockpile to 55 tons.

Production (Unless otherwise specified, tons = metric tons)

Bear River Zeolite ("BRZ"): March April Total

Mined Tons: 0 40 40

Crushed Tons: 655 632 1,287

Shipped Tons: 966 928 1,894

Montana Smelter: March April Total

Antimony Trioxide sold (tons): 77 40 117

Antimony Metal Sold (tons) 0 20 20

Antimony Trisulfide produced (lbs): 12,927 5,834 18,761

Operation Upgrades

BRZ:

Construction of the new 50'x100' warehouse (for additional storage of product) and the 40'x60' shop (for servicing equipment) continued but has been difficult due to snow and mud. The structures' concrete wall footings and floors have been poured and the framing is expected to be completed by the end of May.

The new classification machine for Line #1, designed and ordered in February has been installed. Two new motors on two different machines for the crude size-classification of zeolite in the crushing process have been installed. USAC received approval from Cat Finance and has purchased and delivered a Cat 740 haul truck for transport of ore from mine to plant. The truck was fully serviced upon delivery and has been in use for several weeks. Unlike the past, this gives BRZ an alternate haul truck (old one) in case of a break-down. Additionally, a CAT 992 front-end loader has been purchased as a replacement for the obsolete Cat 988B loader to further aid in production. The 992 should be delivered to BRZ within two weeks.

Montana (Antimony Trisulfide):

Modifications to the initial two new furnaces used to produce antimony trisulfide were completed and production runs were conducted confirming the efficacies of the design changes.

These furnaces produced 18,761 lbs of antimony trisulfide in March-April time period.

Two additional electric furnaces have been ordered in anticipation of demand for antimony trisulphide and to allow for down-time for servicing.

Mexico (Antimony Trisulfide):

US Antimony has completed the mining and flotation processing of 43 tons of hand-sorted ore from the Soyatal mine in Queretaro Mexico with the specific objective of producing a suitable antimony trisulfide concentrate as an additional source from the Sierra Guadalupe mine. Approximately 2.5 metric tons of concentrate have been produced and are being shipped to the US for further analysis but splits from this batch analyzed in Mexico indicate a 70.5% antimony content (in excess of the required 65% minimum spec) with acceptably low contaminants.

Montana (Antimony):

The Montana operating team continue to improve and were able to increase sales and shipments during the period to take advantage of the favorable pricing opportunity.

Ambri Inc:

Shipments to and contact with Ambri regarding the supply of antimony for their ongoing development of the AMBRI metal liquid battery continued.

Los Juarez Property/Puerto Blanco flotation facility:

432 of 2,000 tons of ore from the Los Juarez property has been processed to date at our Puerto Blanco flotation facility. The ore is being converted to an antimony concentrate whose primary value is in the precious metals. This 2,000 tons was selected from mined open pits at Los Juarez. Once a meaningful percentage of the 2,000 tons has been processed, USAC will have improved data for expected feed-grade and precious metal recoveries. Early indications from this amount are that the gold and antimony values are higher than expected while the silver is lower than expected.

Phase I (geological mapping and sampling) of the exploration program at Los Juarez by consulting geologist Felipe Yapur in conjunction with USAC Director Hart Baitis PhD (Geology) has been completed. Subsequent phases of Geophysical Surveys, including Very Low Frequency Electromagnetic (VLF), Magnetometer (MAG) and Induced Polarization (IP) surveys will follow in sequence. Management and other personnel from Los Juarez are assisting in the program with logistics and labor.

Perpetua Resources, Stibnite, Idaho

Perpetua controls the largest known US deposit of antimony, located on federal lands near Stibnite, Idaho. This property was mined extensively during World War II after the enactment of the First War Powers Act of 1941. Perpetua has proposed a plan to the U.S. Forest Service to restore the legacy mining related lands and re-open the mines. USAC supports these efforts and continues to co-operate with Perpetua under the existing collaboration agreement.

Antimony - Supply Chain Sources

The company believes that antimony is a critical mineral for both the green grid-storage revolution and for national security. The company has a continuing program to identify, research, investigate, tour and assess properties of merit that could be possible sources of antimony for the company, within the Americas, particularly North America.

Forward Looking Statements: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, pending contracts and future revenues, ability to execute on its increased production and installation schedules for planned capital expenditures and the size of forecasted deposits. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-KSB with the Securities and Exchange Commission.

CONTACT:
United States Antimony Corp.
PO Box 643 47 Cox Gulch Rd.
Thompson Falls, Montana 59873-0643
E-Mail: info@unitedstatesantimony.com Phone: 406 579 4097

SOURCE: United States Antimony Corp.

View source version on accesswire.com:
https://www.accesswire.com/701386/US-Antimony-Sets-Q1-Gross-Profit-Net-Income-Records-Updates-March-April-Operational-Details

FAQ

What was the gross profit reported by UAMY in Q1?

United States Antimony Corporation reported a gross profit of $1,139,388 for Q1.

How much was the net income for UAMY in the latest quarter?

The net income reported by UAMY for the quarter was $786,252.

What was the total revenue for UAMY in Q1?

The total revenue for United States Antimony Corporation in Q1 was $3,580,306.

What was the average price per pound of antimony sold by UAMY?

The average price per pound of antimony sold by UAMY was $6.53.

What safety record did UAMY achieve during March and April?

UAMY achieved zero lost time accidents during the March-April period.

What are UAMY's plans for production efficiency?

UAMY continues to implement improvements in production and efficiency across all locations.