United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) is pleased
to announce it has commenced construction and installation of equipment
at Madero, Mexico for the recovery of gold and silver from the Los
Juarez deposit in Mexico. The Company also reported record sales for the
third quarter as follows:
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Product
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Item
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Q3 2015*
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Q3 2014
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% Change
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Antimony
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Pounds sold
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710,130
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529,129
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+34.21%
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Revenue
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$2,722,857
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$2,495,338
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+9.12%
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Price/pound
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$3.83
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$4.72
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-18.86%
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Zeolite
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Tons sold
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3,480
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2,251
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+54.60%
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Revenue
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$606,453
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$455,119
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+33.25%
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Price/ton
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$174.26
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$202.63
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-14.00%
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Precious metals
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Gold ounces*
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48.18
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0
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+100.00%
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Silver ounces*
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13,213.22
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0
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+100.00%
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Revenue*
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$163,707
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0
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+100.00%
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Total sales
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$3,493,017
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$2,950,457
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+18.39%
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*Estimated
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GOLD AND SILVER: LOS JUAREZ
The Company continues to complete work required for the addition of two
circuits that will enable the production of gold and silver from the Los
Juarez deposit in Queretaro, Mexico. Approval of the first change at
Madero has been received earlier than anticipated. The necessary
equipment is being built and installed and testing could begin before
the end of 2015 on Los Juarez concentrates that are in inventory. It is
expected to optimize the recovery of gold and silver from the flotation
concentrates. The second addition involves a cyanide leach circuit at
the flotation mill at Puerto Blanco, Guanajuato. The circuit is designed
to recover additional gold and silver from the floatation tailings. The
cyanide permit is underway with approval anticipated by the end of Q1
2016 or early Q2 2016.
ZEOLITE, BEAR RIVER ZEOLITE
Sales from Bear River Zeolite, a wholly owned subsidiary of USAC, were
up more than 1,200 tons, an increase of 54.6%, during Q3 2015 compared
to the same period in 2014 due to strong demand for animal feed, air
filtration, water filtration, remediation, agriculture, compost, and oil
and gas applications. The Company has expanded its customer base with
fifteen new large customers and many smaller companies. The company has
recently received orders for 746 metric tons from a new customer for the
remediation of water from a gold mine in Canada. Two hundred sixty-six
metric tons have already been shipped. Zeolite sales are expected to
continue to grow due to increasing demand for the very high quality of
the Bear River Zeolite product.
ANTIMONY
Despite the decrease in the price of antimony, our revenues increased by
$227,519 during Q3 2015 compared to the same period in Q3 20214. Costs
have decreased due to (1) greater production, (2) the decrease in fuel
prices, (3) the raw material purchases are indexed to our sale price,
and (4) smoother production practices. At the Madero smelter in
Coahuila, Mexico, the large furnace (“LRF”) refractory has been cured
and the start-up of production is under way. Finished metal will be sold
directly from Mexico to further reduce costs during Q4 2015.
Additionally, the recovery of gold from the Australian concentrates will
begin during Q4, 2015.
Conversations continue between the U.S. Department of Defense (“DOD”)
with USAC about the availability of (1) antimony metal for use in
ordnance and deep-cycle batteries, (2) antimony oxide flame retarding
plastics aircraft and vehicles, and (3) especially antimony tri-sulfide
for use in primers in bullets and rockets. The DOD is concerned that
China is the only source of antimony tri-sulfide and that there are no
stockpiles for antimony metal or oxide. Further, they are interested in
visiting our Mexican operations as it relates to our Montana operations
to supply them with these products domestically.
CEO John Lawrence said that “With no long-term debt and consistent
revenues from operations, the Company is on track to fund the Los Juarez
expansion. This, combined with a large inventory of Mexican furnace feed
and the increasing sale of zeolite, places the Company in an excellent
financial position to fund our activities and prevent the dilution of
shareholder equity.”
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.
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