2022-05-16 | NYSEAM:UAMY | Press release

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THOMPSON FALLS, Montana /ACCESSWIRE/May 16, 2022/ United States Antimony Corporation (USAC-the Company) reports a record quarterly gross profit of $1,139,388 and record net profit of $786,252 boosted by quarterly antimony revenue of $2,828,930. The average realized price per pound of the 433,350 pounds of antimony contained 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 for the foreseeable future. Revenue from other activities brought total quarterly revenue to $3,580,306.

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

The ongoing production and efficiency improvement program continues to deliver positive results at all sites. Exploration and evaluation of mineral properties continues in North and Central America with the aim of acquiring additional sources of raw materials. Relationships with third-party end users and potential vendors continue to be enhanced through research efforts and the provision of test materials.

Operations Update – March and April

Safety and environment

All reported business transactions zero wasted time or serious bodily injury during the period from March to April.

There was zero spills, releases or environmental incidents during the period. The previously announced proactive program (see NR – January 15, 2022 and March 15, 2022) of legacy slag cleanup at the Madero smelter has continued and is now 86% complete. At the same time, the Company sharply reduced its legacy slag inventory in Montana with shipments of 20 tons in March and 40 tons in April, reducing the inventory to 55 tons.

Production (Unless otherwise stated, tons = metric tons)

Bear River Zeolite (“BRZ”): Total March April

Tonnes extracted: 0 40 40

Tons crushed: 655,632 1,287

Tons shipped: 966,928 1,894

Montana Foundry: Total March April

Antimony trioxide sold (tons): 77 40 117

Antimony metal sold (tons) 0 20 20

Antimony trisulfide product (lbs): 12,927 5,834 18,761

Operations Upgrades

BRZ:

Construction of the new 50’x100′ warehouse (for additional product storage) and 40’x60′ workshop (for equipment maintenance) continued but was difficult due to snow and mud. The footings of the walls and the concrete floors of the structures have been poured and the framework should be finished 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 coarse size classification of zeolite in the crushing process have been installed. USAC received approval from Cat Finance and purchased and delivered a Cat 740 haul truck to transport ore from mine to plant. The truck was completely overhauled on delivery and has been in use for several weeks. Unlike in the past, this gives BRZ another transport truck (the old one) in the event of a breakdown. Additionally, a CAT 992 front end loader was purchased to replace the obsolete Cat 988B loader to further facilitate production. The 992 is expected to be delivered to BRZ within two weeks.

Montana (antimony trisulfide):

Modifications to the two initial new furnaces used to produce antimony trisulfide have been completed and production runs have been carried out, confirming the effectiveness of the design modifications.

These kilns produced 18,761 pounds of antimony trisulfide during the March-April period.

Two additional electric furnaces were ordered in anticipation of antimony trisulfide demand and to allow for downtime for maintenance.

Mexico (antimony trisulfide):

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

Montana (Antimony):

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

Ambri Inc:

Shipments and contacts with Ambri regarding the supply of antimony for the ongoing development of the AMBRI liquid metallic battery continued.

Los Juarez Property/Puerto Blanco Flotation:

432 of the 2,000 tonnes of ore from the Los Juarez property have been processed to date at our Puerto Blanco flotation facility. The ore is converted into an antimony concentrate whose main value lies in precious metals. These 2,000 tonnes were selected from open pit mines operated in Los Juarez. Once a significant percentage of the 2,000 tons has been processed, USAC will have improved data for expected food grade and precious metal recoveries. Early indications of this amount are that gold and antimony values ​​are higher than expected while 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) is complete. The next phases of geophysical surveys, including very low frequency electromagnetic (VLF), magnetometric (MAG) and induced polarization (IP) surveys will follow in sequence. Management and other Los Juarez staff participate in the program with logistics and labor.

Perpetua Resources, Stibnite, Idaho

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

Antimony – Supply Chain Sources

The company believes that antimony is an essential mineral for both the green revolution in on-grid storage and for national security. The Company has an ongoing program to identify, research, investigate, visit and evaluate properties of merit that may be possible sources of antimony for the Company, in 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 on current expectations or beliefs and on a number of assumptions. regarding future events, including matters related to the Company’s operations, current contracts and future revenues, the ability to meet its increased production and installation schedules for anticipated capital expenditures and the size of anticipated deposits . Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions on which they are based are reasonable, it cannot guarantee that these expectations and assumptions will prove to be correct. Readers are cautioned not to place 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 latest filings, including Form 10-KSB with the Securities and Exchange Commission.

CONTACT:

Antimony Society of the United States.

PO Box 643 47 Cox Gulch Road.

Thompson Falls, Montana 59873-0643

E-mail:[email protected]Call: 406 579 4097

THE SOURCE: Antimony Society of the United States.

See the source version on accesswire.com:

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

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