United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reports a loss of $175,125 on revenues of $2,655,123 for the quarter ended September 30, 2012. John Lawrence, Chief Executive Officer commented, “Due to the expenses and capital expenditures for mining, milling, and smelter equipment and new general and administrative expense incurred in the quarter, the Company is now entering a sustained period of production growth and revenue from its facilities in the United States and in Mexico.”
The Company’s main supplier of antimony and precious metals for processing in Montana has begun to significantly increase its feed in Q4 and will continue through 2013 and 2014. The Company’s smelter at Thompson Falls, which has a capacity in excess of 10 million pounds per year of antimony oxide, has the capacity to meet this customer’s needs. The Company’s zeolite division was awarded a second nuclear remediation contract for the Chalk River Nuclear Plant in Ottawa, Canada.
MEXICAN OPERATIONSRaw material supply Milling and smelting raw material supplies remain plentiful in Mexico from the Los Juarez antimony-silver-gold property and other antimony properties that have begun to gear up their production due to the Company’s Puerto Blanco mill and Madero smelter. Mexican mines produced more than 35 million pounds of antimony metal contained during World War II. A forty foot high face has been cut at the Los Juarez deposit to provide more than 8,000 tons of mill feed. Five other faces have been prepared. New analytic equipment now provides assays of mill and mine samples in minutes. It will be a major advantage for mine control. Milling at Puerto Blanco The initial 150 ton per day antimony flotation mill is now operating 20 hours per day and will be increased to 24 hours per day shortly. A new gravity circuit for oxide feed will add 75 to 100 tons per day of capacity to the Puerto Blanco mill and is expected in to start in 2012. A site has been selected for the Company’s 500 ton per day mill, currently located in Montana. Permitting and transportation of the new mill will begin in 2012.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts