United States Antimony Corporation (“USAC”, OTCBB “uamy.ob”) reported all-time record revenues for the third consecutive quarter and, despite heavy start-up expenses in Mexico, maintained profitability. Second quarter revenues for 2011 were $3,050,002 and net income was $86,428 compared to revenues of $2,090,173 for 2010 and net income of $204,587.
John Lawrence, CEO, commented, “While we are pleased to report another quarter of record revenues, there are several developments that could significantly enhance the Company’s revenue and profitability:
|1.||USAC’s antimony smelter at Madero, Coahuila, Mexico has been base-loaded with feed and is operating 24/7. Feed containing antimony and significant amounts of precious metals valued at more than $2,500,000 is being processed.|
|2.||The Corral Blanco antimony flotation mill in Guanajuato is now in the shake down phase. The 150 ton per day mill is designed to produce a high-grade concentrate from USAC’s Los Juarez antimony/silver/gold property and other local properties that reached significant levels of production during World War II. The nearby Soyatal property has already delivered mineralized rock and trucking has commenced from Los Juarez. USAC has also acquired a 500 ton per day antimony flotation mill for expanded production.|
|3.||Recently obtained rock chip samples from the surface of the Los Juarez property located in Mexico’s “silver belt”, indicate the possibility of a jasperoid-type, bulk-mineable, precious metals and antimony property. Additional mapping, sampling, and drilling are underway to confirm this geological interpretation. Presently, the Company claims no reserves.”|
Due to USAC’s proprietary metallurgical capability to extract precious metals from antimony, the Company routinely processes material from other smelters located worldwide. This competitive advantage will allow USAC to recover precious metals from its Los Juarez properties.