THOMPSON FALLS, Mont.–(BUSINESS WIRE)–United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported that it has sold 5,377 tons of zeolite in Q4 of 2015 compared to 3,063 tons in Q4 of 2014, an increase of 75%. During 2015, the Company sold 15,235 tons of zeolite compared to 11,079 sold in 2014, an increase of 37%.
During Q4 of 2015, the Company sold 617,451 pounds of antimony compared to 425,351 pounds during Q4 of 2014, an increase of 45%. During 2015, the Company sold 2,487,321 pounds of antimony, compared to 1,727,804 sold in 2014, an increase of 44%. The Mexican Government (SAT) has released approximately $120,000 to USAC for taxes withheld by IMMEX, and USAC has also utilized more of that money for payroll taxes in Mexico.
On December 23, 2015, Hillgrove Mines Pty Ltd announced the closure of their mine at Armidale, New South Wales, Australia due to the 2015 declining price of antimony from $8,000 to $5,000 per metric ton (from $3.62 to $2.27 per pound). Hillgrove has placed the mine on care and maintenance pending improved antimony prices. At the present time, USAC has a four to five month inventory of Hillgrove concentrates at Madero, Mexico. USAC will replace the Hillgrove concentrates with production from Wadley, Soyatal, and Guadalupe.
USAC personnel are working to meet the military specification for antimony tri-sulfide for use in all ordnance for the U.S. Department of Defense and for private use. The sale price of the antimony in this specialty product is significantly higher, at approximately double the sale price of antimony metal.
China controls more than 90% of the world supply of antimony. Some of the Chinese producers have completed their production for the year and will not start again until after the Chinese New Years in February 8, 2016, complaining that they have been selling $0.34 per pound below their cost.
A circuit to recover by-products from the Los Juarez concentrates is being installed at the Madero smelter. The Company expects to submit an application for a permit to recover by-products from the flotation tailings from Los Juarez in early January 2016. Approval of the permit is expected by the end of Q1 2016.
CEO John Lawrence said, “Although we are disappointed with the price of antimony and suspension of Hillgrove’s production, this provides us the opportunity to transition back into smelting our own concentrates from Wadley, Soyatal, and Guadalupe. This, combined with increased zeolite sales and possible production from Los Juarez in the first half of 2016, positions the Company for continued growth in the coming year.”
About U.S. Antimony
U.S. Antimony is a growing, vertically-integrated natural resource company that has production and diversified operations in precious metals, zeolite and antimony. Key operations currently generating revenues are located in Northwest Montana, Southern Idaho and Mexico. The Company also owns the only significant antimony smelter in the United States and is increasing its raw material supply of antimony from Mexico and third parties around the world.
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, ability to execute on its increased production and installation schedules for planned capital expenditures and the size of forecasted deposits. 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.
