THOMPSON FALLS, Mont.--(BUSINESS WIRE)--United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported
the following sales for April:
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Product
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April 2016
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Antimony pounds
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221,145
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BRZ zeolite tons
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1,253
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Gold from Australia ounces
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60.109
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Production of antimony during April was actually 349,224 pounds that had
been sold but 128,079 had not been delivered. Zeolite sales were good
despite bad weather conditions. Additionally, BRZ, a wholly owned
subsidiary of USAC, has received a new order for 1,400 tons of zeolite
for the mining industry. The shipment of this order could be as fast as
160 tons per week.
USAC reported that the Rotterdam price for antimony metal has increased
from $2.449 per pound on April 1 to $2.834 on April 25, a 15.7%
increase. The Rotterdam pricing is fundamental to Europe where
inventories are low. The increase in prices will begin to impact USAC
sales by the end of May.
The two largest impediments to the profitability of USAC have been (1)
the decline in the price of antimony from $8.11 per pound in April 2011
to $2.27 in January 2016, a 72% decrease, and (2) the “non production
Mexican expenses” that have been included in the cost of antimony
production. These costs include the holding costs of mines and mills in
Mexico that have been idle due to a lack of furnace capacity at Madero
and the solving of the Los Juarez metallurgical problems. To solve this
second problem, in April the processing of Wadley hand sorted ore and
concentrates was begun at Madero. Additionally, the SEMARNAT (our
equivalent of the EPA) Environmental Impact Statement and Risk Analysis
Study will be filed in May to permit the installation of the cyanide
leach plant at the Puerto Blanco mill in Guanajuato. The permit, when
issued, will also start the significant production of gold and silver
from the Los Juarez property.
CEO John Lawrence said “the increase in the price of antimony is what we
have been waiting for and the processing of the Mexican ore inventory
will supplement income to fund the Los Juarez leach plant. Additionally,
new applications of zeolite remain exciting.”
About U.S. Antimony
US Antimony is a growing, vertically-integrated natural resource company
that has production and diversified operations in precious metals,
zeolite and antimony.
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.