United States Antimony Corporation (“USAC”, OTCBB “uamy.ob”) reported that the Company has entered into a Purchase Agreement on the “Corral Blanco” mill site in the State of Guanajuato, Mexico. The mill site includes approximately 100 acres of level ground, a large volume water well, a sandstone quarry that will be used for holding tailings, houses, warehouses, electricity, and it is completely fenced. The site is convenient to the Company’s two deposits in Queretaro and to a major highway and railroad for receiving rock from other deposits.
Construction has begun and includes the preparation of the tailings pond, foundation engineering, preparation of the mill site for pouring concrete foundations, and the moving in of equipment. The mill will have a rated capacity of 150 metric tons per 24 hours with room for expansion. The mill is expected to add materially to USAC’s supply of raw materials. The mill should be ready for shakedown by June 2011. The first antimony-mineralized rock is in route from the Soyatal Mining District. Several thousand tons are also ready from the Company’s antimony-silver deposit. The Los Juarez deposit will be mined by open pit methods using pneumatic jackleg drills and an excavator. A powder magazine has been constructed, and major mining will commence during May 2011.
USAC remains in a sold out condition and is scrambling to bring the mill on stream to provide more raw material on an integrated basis. The Company’s smelter at Madero, Coahuila has now been fully licensed for four furnaces with room for expansion.
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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV