News U.S. Antimony Reports a Major Processing Agreement
2014-11-11 08:00 ET - News Release
THOMPSON FALLS, Mont. -- (Business Wire)
United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported it has entered a major processing agreement with Hillgrove Mines Pty Ltd of Armidale, New South Wales, Australia for 200 metric tons per month of 60% antimony concentrates containing approximately 20 grams per ton (0.64 ounces) of gold. On a yearly basis, this would amount to approximately 3,000,000 pounds of antimony and 1,500 ounces of gold. The production should give USAC an attractive gross margin on the sale of the antimony and gold. Hillgrove will provide funding to USAC on favorable terms to expand its smelter capacity in Montana and Mexico. Construction will begin immediately and production is expected during Q1 2015. Should Hillgrove decide, the contract also provides for the further expansion of the plant for up to 9,000,000 pounds per year of antimony and 4,500 ounces of gold.
John Lawrence, CEO commented, “USAC has smelted for Hillgrove in the past and is happy to enter into an Agreement to increase USAC’s market share and enhance Hillgrove’s cash flow. USAC’s antimony production remains in a sold out condition.”
U.S. Antimony Reports Record Production
2014-11-18 08:00 ET - News Release
THOMPSON FALLS, Mont. -- (Business Wire)
United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported it achieved an all time record production of 1,358,518 pounds for the nine months ending September 30, 2014. Meanwhile, Q3 2014 sales were even stronger at 529,129 pounds up 59% from 332,106 pounds the previous quarter.
| The surge in production and major factors that continue this rapid growth in the short and intermediate term include the following: |
| | 1. | | Mexican smelter capacity was increased by 50% with 4 more furnaces by October 2014 at a cost of more than $600,000. This new capacity allows us to process a substantial inventory of furnace feed previously paid for. A natural gas pipeline was connected in late September at a cost of $1,800,000 that reduced our Mexican smelter costs by $.80 per pound. The most recent Rotterdam average price per pound of antimony metal was $4.11. |
| | 2. | | Los Juarez silver-gold-antimony property will be brought on stream early in 2015. Recoveries per ton are expected to include 10 pounds of antimony, 5 ounces of silver, and .03 ounces of gold or approximately $150.00 per ton. Costs are estimated at approximately $75.00 per ton. Following the successful operation of the 150 ton per day mill at Puerto Blanco, an additional 500 ton per day mill will be completed and dedicated to Los Juarez. Since USAC owns the property and due to open pit methods of mining, costs are expected to be low. |
| | 3. | | Hillgrove Australian Mine Agreement is expected to provide 3,000,000 pounds of antimony and up to 1,500 ounces of gold per year starting in early 2015. This could be expanded to 9,000,000 pounds per year of antimony and up to 4,500 ounces per year of gold. Capital expenditures for the installation are being financed by Hillgrove. |
| | 4. | | Bear River Zeolite is currently being tested for a large application in the Bakken and other oil and gas fields. |
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John Lawrence, the USAC CEO, said, “The target production for 2015 is a new all time record of 5,000,000 pounds of antimony plus precious metals. We have a clear path for another record year in 2016.”