EX-99.1 2 uamy_ex991.htm PRESS RELEASE EXHIBIT 99.1 United States Antimony Corporation Reports Record First Quarter 2025 DALLAS, TX / ACCESS Newswire / May 8, 2025 – United States Antimony Corporation ("USAC" or the "Company" or "U.S. Antimony Corporation"), (NYSE: UAMY) reported today its first quarter 2025 financial and operational results. Revenues for the first three months of 2025 increased 128% or $3.9 million, to $7 million. This is compared to the first three months of 2024 of $3.1 million in total ...

United States Antimony (UAMY) Q1 2025 Earnings Call May 08, 2025 04:15 PM ET Speaker0 Welcome to the United States Antimony Corporation First Quarter twenty twenty five Financial and Operational Results Meeting. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. Please note this webcast is being recorded. I will now turn the webcast over to your host, Gary C. Evans, Chairman and CEO. You may begin. Speaker1 Thank you, sir, and thank a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q For the transition period ________ to ________ COMMISSION FILE NUMBER 001-08675 UNITED STATES ANTIMONY CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Montana 81-0305822 (Mark One) ☒ Quarterly Report Pursuant to Section 13 Or 15(d) Of The Securities Exchange Act of 1934 For the quarterly period ended March 31, 2025 ☐ Transition Report Under Secti ...

Financial Performance - Revenues for fiscal year 2024 increased 72% year-over-year to $14.9 million, up from $8.7 million in 2023[3] - Gross profit surged 204% year-over-year to $3.5 million, compared to a loss of $3.3 million in 2023[3] - The company reported a net loss from operations of $1.7 million for 2024, an improvement of $4.6 million from a loss of $6.3 million in 2023[3] - Net loss for the year ended December 31, 2024, was $1,730,404, a significant improvement from a net loss of $6,348,287 in 2023, representing a reduction of approximately 73%[18] - Cash provided by operating activities was $2,220,303 in 2024, compared to cash used of $4,750,026 in 2023, indicating a turnaround in operational cash flow[18] Cash and Assets - Cash and cash equivalents at the end of 2024 stood at $18.2 million, with only $328K in debt[4] - Total cash and cash equivalents at the end of the period increased to $18,270,898 from $11,954,635 in the previous year, marking a growth of approximately 53%[18] - Total assets increased to $34.6 million in 2024, up from $28.1 million in 2023[14] Investments and Financing - Proceeds from the issuance of common stock in 2024 amounted to $2,759,681, contributing positively to financing activities[18] - Cash used in investing activities was $42,073 in 2024, a significant decrease from $1,341,713 in 2023, indicating a more conservative investment approach[18] - Interest paid in cash for the year was $8,869, a slight decrease from $10,521 in 2023, suggesting improved cash management[18] - The company recognized non-cash financing activities including equipment purchased with a note payable valued at $402,722[19] Production and Operations - The zeolite division achieved a 9% increase in sales volume, with production capacity rising from four tons per hour to over twelve tons per hour[8] - The company plans to bring antimony ore from its mining claims in Alaska to Montana in Q3 2025, reducing dependence on foreign sourcing[11] - The Madero Smelter in Mexico is set to become a key contributor to financial results in the remaining three quarters of 2025[10] - The company acquired mining claims and leases in Alaska and Ontario, Canada, and leased a metals concentration facility in Montana in 2024, which could expand operations and product offerings[19] Market Conditions - Antimony prices increased nearly fivefold from $11.575 per metric ton at the end of 2023 to $55,650 per metric ton currently[5] - Forward-looking statements indicate expectations for increased production and potential future revenues, though actual results may differ due to various uncertainties[20][21][22] Guidance and Estimates - The company estimates consolidated revenues for 2025, although specific guidance has not been historically provided[12] - The company reported depreciation and amortization expenses of $1,085,747 in 2024, up from $959,445 in 2023, reflecting increased asset utilization[18]

United States Antimony Corporation (NYSE:UAMY) Q4 2024 Earnings Conference Call March 20, 2025 4:15 PM ET Company Participants Gary Evans - Chairman and CEO Joe Bardswich - EVP, Chief Mining Engineer Rick Isaak - SVP, CFO Jonathan Miller - VP, IR Operator Greetings. Welcome to United States Antimony Corporation Fiscal Year 2024 Financial and Operational Results Meeting [Operator Instructions]. Please note this webcast is being recorded. I will now turn the webcast over to your host, Gary C. Evans, Chairman ...

Revenue and Sales Performance - In 2024, the company reported antimony sales of $11,102,573, an increase of 88% from $5,904,480 in 2023, with pounds sold rising by 5,198,093 pounds[36]. - The average market price of antimony per pound increased to $10.44 in 2024 from $5.50 in 2023, reflecting significant price fluctuations in the Rotterdam market[38]. - The company reported revenue from sales of gold and silver totaling $525,087 in 2024, compared to $326,496 in 2023[36]. - Total revenues for the year ended December 31, 2024, were $14,937,962, representing a 72% increase from $8,693,155 in 2023[230]. - Antimony product revenue increased to $11,471,200 in 2024 from $5,904,480 in 2023, representing a 94% growth[284]. - Domestic revenues rose to $12,572,625 in 2024, up from $6,854,740 in 2023, marking an 83% increase[286]. - Customer A revenue increased to $4,389,735 in 2024 from $1,548,283 in 2023, a growth of 183%[286]. - Total customer revenue as a percentage of total company revenues decreased to 43% in 2024 from 46% in 2023[286]. - The precious metals operations generated revenue of $525,087 in 2024, up from $326,496 in 2023[344]. Financial Position and Performance - Gross profit for 2024 was $3,466,918, compared to a gross loss of $3,344,784 in 2023, indicating a significant turnaround[230]. - Total current assets increased to $20,678,569 in 2024 from $14,076,206 in 2023, a growth of approximately 47%[229]. - Total assets rose to $34,642,602 in 2024, up from $28,094,995 in 2023, reflecting an increase of about 23%[229]. - Current liabilities surged to $4,006,389 in 2024, compared to $897,458 in 2023, marking a substantial increase of approximately 346%[229]. - Net loss for 2024 was $1,737,904, an improvement from a net loss of $6,355,787 in 2023[230]. - The company reported a basic net loss per share of $0.02 for 2024, compared to $0.06 in 2023[230]. - Total stockholders' equity increased to $28,600,673 in 2024 from $25,520,968 in 2023, a rise of about 8%[229]. - The net loss for the year ended December 31, 2024, was $1,730,404, a significant improvement compared to a net loss of $6,348,287 in 2023, representing a reduction of approximately 73.3%[45]. - Cash provided by operating activities increased to $2,220,303 in 2024, compared to cash used of $4,750,026 in 2023, indicating a turnaround in operational cash flow[45]. - The company reported a net cash increase of $6,316,263 in cash and cash equivalents at the end of 2024, compared to a decrease of $7,163,031 in 2023[45]. Operational Developments - The company acquired mining claims and leases in Alaska and Ontario, Canada, in 2024, aiming to expand operations and product offerings[23]. - The company plans to restart operations at its Madero facility in Mexico due to increased demand and market prices for antimony, reversing an earlier decision to sell its USAMSA subsidiary[24]. - The company has renewed its annual contract with a Canadian supplier for ore supply for its Montana smelting facility for 2025[32]. - The company has not yet commenced active operations in Alaska, Ontario, or its leased facility in Philipsburg, Montana[28]. - The company is in the process of completing a technical report summary for its zeolite mine, which includes test hole drilling and expert evaluation[22]. - The company has extended its existing mineral property lease in Preston, Idaho, for an additional 10 years[25]. - The company executed an option agreement in January 2025 to acquire 120 mining claims in Alaska for a total of $3,000,000, with payments scheduled from 2025 to 2030[347]. - The Fairbanks Agreement includes a commitment to spend $2,250,000 on exploration and development over five years, with specific milestones[348]. Asset Management and Liabilities - The company has about $100,000 in financial assurances for reclamation company-wide, primarily in the form of surety bonds[52]. - The company recorded a write-down of inventory to net realizable value of $65,647 in 2024, a significant decrease from $2,073,404 in 2023, suggesting improved inventory management[45]. - The company’s accounts payable increased by $1,088,773 in 2024, compared to a decrease of $171,868 in 2023, indicating a shift in payment strategies[45]. - The accrued liabilities balance at December 31, 2024, is $1.4 million, consisting of $1.2 million in accrued compensation and $0.2 million in miscellaneous accrued liabilities, compared to $0.1 million in 2023[258]. - Long-term debt rose to $327,677 in 2024 from $28,443 in 2023, with a current portion of $132,252 due in 2025[304]. - The asset retirement obligation increased from $1,638,027 in 2023 to $1,711,108 in 2024, with an accretion expense of $73,081 recorded in 2024[303]. Shareholder and Equity Information - The company has cumulative dividends in arrears on Series B preferred stock amounting to $225,000 as of December 31, 2024, compared to $217,500 in 2023[336]. - The company has a maximum of 8,700,000 shares available for issuance under the 2023 Equity Incentive Plan approved in December 2023[323]. - For the year ended December 31, 2024, the company recognized a total share-based compensation expense of $568,588, with $219,968 from stock options and $348,620 from RSUs[324]. - The company granted 4,330,000 stock options during the year ended December 31, 2024, with a weighted average exercise price of $0.23 and an intrinsic value of $6,652,700[330]. - The company issued 2,204,000 shares of common stock related to the exercise of warrants during the fourth quarter of 2024, generating gross proceeds of $1,481,840 at a weighted average exercise price of $0.67[332]. - The company issued 400,000 shares of common stock related to warrant exercises, receiving gross proceeds of $340,000 at a weighted average exercise price of $0.85[354]. Compliance and Accounting - The financial statements for the years ended December 31, 2024 and 2023 present fairly the financial position of the company in conformity with accounting principles generally accepted in the U.S.[222]. - The company has no significant off-balance sheet arrangements[220]. - The company has no financial assets or liabilities adjusted to fair value on a recurring basis as of December 31, 2024, and 2023[273]. - The company adopted ASU 2023-07 for its fiscal year ended December 31, 2024, which enhances segment reporting disclosures[276][277]. - The company is currently evaluating the impact of ASU 2023-09 on its consolidated financial statements and disclosures, effective for fiscal years beginning after December 15, 2024[278]. - The company does not believe that issued but not yet effective accounting pronouncements would have a material effect on its financial statements[280].

Core Viewpoint - United States Antimony Corporation (USAC) has announced an exclusive option agreement to acquire a third group of antimony mining claims in Alaska, which is expected to enhance its resource base and production capabilities [1] Group 1: Acquisition Details - The exclusive option agreement allows USAC to acquire additional antimony mining claims, which are crucial for expanding its operations in the antimony sector [1] - This acquisition is part of USAC's strategy to secure more resources and strengthen its position in the antimony market [1] Group 2: Industry Implications - The acquisition aligns with the growing demand for antimony, a critical mineral used in various applications, including flame retardants and batteries [1] - By increasing its resource base, USAC is positioning itself to capitalize on the anticipated rise in antimony prices due to supply constraints and increasing industrial demand [1]

Financial Results - United States Antimony Corporation reported its financial results for Q3 and the nine months ended September 30, 2024[4]. - Financial results include key metrics that will be detailed in the press release, which is referenced as Exhibit 99.1[4]. Company Information - The company is listed on NYSE American under the trading symbol UAMY[2]. - The press release detailing the financial results was issued on November 12, 2024[4]. - The company is not classified as an emerging growth company[3]. - The report was signed by Richard R. Isaak, SVP and Chief Financial Officer[5].

Company Operations - The Company shut down operations of its USAMSA subsidiary on March 11, 2024, and plans to sell it over the next year[93]. - The Company has initiated an active search for buyers of its USAMSA operations and/or assets following the shutdown[103]. - The company shut down its USAMSA subsidiary on March 11, 2024, due to cumulative losses since inception[142]. - The company is focused on generating positive cash flow through operational reviews and strategic acquisitions[142]. Market Position - The Company estimates its share of the domestic market for antimony oxide products is approximately 4% and less than 1% in the international market[101]. - The Company is the only significant U.S. producer of antimony products, with a competitive edge due to its domestic processing capabilities[101]. - The Company has relied on foreign sources for antimony ore since 1983, with ongoing procurement from an existing supplier in Canada[100]. Financial Performance - For the three months ended September 30, 2024, total revenues increased to $2,421,020 from $2,063,558 for the same period in 2023, representing a growth of 17.3%[114]. - Antimony revenue for the nine months ended September 30, 2024, was $5,381,803, an increase of $1,025,726 or 23.5% compared to $4,356,077 in the prior year[119]. - Gross profit for antimony for the nine months ended September 30, 2024, increased by $1,210,979, or 119.9%, to $2,221,383 compared to $1,010,404 in the same period of 2023[120]. - Zeolite revenue for the nine months ended September 30, 2024, was $2,280,338, an increase of $339,329 or 17.5% from $1,941,009 in the prior year[122]. - Precious metals revenue for the three months ended September 30, 2024, was $399,433, a significant increase from a loss of $5,854 in the same period of 2023[124]. - For the nine months ended September 30, 2024, precious metals revenue was $404,049, up 66.7% from $242,433 in the prior year[126]. - Revenue for the nine months ended September 30, 2024, increased to $8,066,190, a 23.3% increase from $6,539,519 in the same period of 2023[137]. - Gross profit rose significantly by 107.5% to $2,157,313 compared to $1,039,810 in the prior year[137]. Cost and Expenses - The average sales price per ton of zeolite decreased by 12.0% to $262 for the three months ended September 30, 2024, compared to $298 in the same period of 2023[121]. - The average cost per pound of antimony increased by 51.5% to $4.08 for the three months ended September 30, 2024, compared to $2.69 in the same period of 2023[118]. - Total operating expenses for the consolidated entity increased by 104.3% to $1,270,811 for the three months ended September 30, 2024, compared to $622,139 in 2023[133]. - Total operating expenses surged by 116.0% to $3,284,706, up from $1,521,000, leading to a loss from operations of $1,127,393[137]. Cash Flow and Assets - Net cash provided by operating activities improved by $1,579,764, reaching $884,032 for the nine months ended September 30, 2024, compared to a cash outflow of $695,732 in 2023[138]. - Cash flow used by investing activities improved by $1,479,106, resulting in a cash outflow of $141,708 for the nine months ended September 30, 2024[140]. - Cash flow used by financing activities improved by $786,640, with a net outflow of $71,139 for the nine months ended September 30, 2024[141]. - As of September 30, 2024, the company had cash and cash equivalents of $12,969,132, which are expected to cover cash requirements for the next 12 months[145]. - Total assets as of September 30, 2024, were $23,560,877, an increase from $21,547,455 as of December 31, 2023[117]. - The accumulated deficit increased to $(40,266,104) as of September 30, 2024, from $(39,418,619) as of December 31, 2023[117]. EBITDA and Profitability - EBITDA from continuing operations was a loss of $306,853 for the nine months ended September 30, 2024, compared to a profit of $342,071 for the same period in 2023[129]. - EBITDA for the antimony segment was a loss of $653,612 for the three months ended September 30, 2024, compared to a profit of $218,693 in 2023[129]. - Income (loss) from operations for the consolidated entity was a loss of $845,043 for the three months ended September 30, 2024, compared to a loss of $363,731 in 2023, representing a 132.3% increase in losses[133]. - Gross profit for the consolidated entity was $425,768 for the three months ended September 30, 2024, a 64.8% increase from $258,408 in 2023[133].

Company Overview - United States Antimony Corporation (USAC) is involved in the processing and sale of antimony, zeolite, and precious metals products in the U.S. and Canada [4] - The company processes antimony ore into various products including antimony oxide, antimony metal, and antimony trisulfide, which have applications in flame retardants, batteries, and ammunition [4] - USAC also mines and processes zeolite, which is used in environmental applications such as water filtration and soil amendment [4] Conference Participation - USAC will participate in the ThinkEquity Conference on October 30, 2024, at the Mandarin Oriental Hotel in New York [1] - Gary C. Evans, Chairman and co-CEO, will present at 8:00 a.m. ET, and the management team will hold one-on-one investor meetings throughout the day [2] ThinkEquity Conference Details - ThinkEquity is a boutique investment bank that has collectively financed over $50 billion in public and private capital raises, restructurings, and mergers and acquisitions [3] - The conference has previously featured over 70 company presentations and 700+ attendees, providing a platform for companies and investors to connect [3]