United States Antimony Corporation (“USAC”, OTCBB “uamy.ob”) reported a profit of $805,213 on sales of $9,073,324 for 2010 compared to a loss of $343,492 on sales of $4,103,340 for 2009. Sales had increased 121% from 2009 to 2010. Antimony sales increased from $2,567,107 in 2009 to $5,657,369 in 2010 an increase of 159%. Zeolite sales increased from $1,536,233 in 2009 to $2,415.955 in 2010 an increase of 57%. Profit was adversely affected by a non-cash write down of $199,302 for moving the Mexican flotation mill and an additional Mexican start-up cost of $245,700.
Antimony metal prices have hit new all-time record highs as a result of the Chinese supply issue. U.S. quotations for antimony metal are $7.375 per pound. USAC’s production remains in a “sold out” condition even with the establishment of new sources of raw materials from South and Central America, Australia, and Europe. John Lawrence, USAC’s CEO, reported that various permitting issues to allow for the relocation of the Company’s Mexican mill are well underway. Once operational, the mill will allow the Company to produce its Los Jaurez antimony and silver property.
Lawrence announced that the Board of Directors has appointed Dan Parks as the CFO. Parks, a Cum Laude graduate of the University of Idaho, College of Business, is a Certified Public Accountant that worked for Coopers & Lybrand for clients including major mining companies.
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. 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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