United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported an
unaudited loss of $158,813 on revenues of $2,558,356 for the third
quarter of 2013.
Antimony production from Mexico grew by 168% during the third quarter of
2013 compared to that of 2012. Antimony prices have stabilized at the
$4.70 per pound of metal level.
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The increase in Mexican production has come from five operating
properties that ship direct furnace feed to USAC’s Madero smelter.
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In addition, the Guadalupe property provides mill feed for the Puerto
Blanco flotation mill. Guadalupe has been shipping older dump rock
that has an average recovered grade of 2.6% antimony. Underground
mining will begin this week and is expected to produce more mill feed
at a higher grade.
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Also, the Soyatal property is currently feeding the oxide circuit at
Puerto Blanco.
The Mexican smelter at Madero is running at 100% of capacity. Plans are
underway to increase its capacity significantly.
At the Bear River Zeolite operation in Idaho, the profit during Q3 was
$167,951 compared to a loss of $18,433 during the same period in 2012.
The nine month profit for 2013 was $276,149 compared to $126,238 for the
same period in 2012. New orders this fourth quarter are expected to
boost production.
John Lawrence, Chief Executive Officer, commented, “The rapid growth of
USAC’s Mexican production in the third quarter is accelerating in the
fourth quarter.”
An investor call in will be conducted at 4:00 PM EST today, November 12,
2013. The dial in number is:
Toll free: 1-888-364-3108
International: 1-719-457-2645
Conference ID: 5930756
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.
Copyright Business Wire 2013