THOMPSON FALLS, MT / ACCESSWIRE / February 4, 2019 / United States Antimony Corporation (“USAC”, NYSE American: UAMY) reported on the Reynosa antimony plant, Mexican antimony production, North American antimony gold and silver production; progress at Los Juarez, BRZ zeolite operations, and the large inventory of antimony at the end of January.
The dismantling and trucking of the Great Lakes Chemical Corporation, LANXESS antimony plant in Reynosa, Mexico has been on schedule. More than 50 truckloads of equipment have been shipped to the other USAC operations in Mexico and the United States. Payments for the real property have been timely and should be completed in early February.
Five long rotary furnaces with stainless steel cooling ducting, hoppers and dust collectors; burners, blowers, and fans from Reynosa have been delivered to the Madero smelter and two are currently being installed. In addition, cast iron molds, scales, two fork lifts, a truck, a car, a Caterpillar loader, a100 HP compressor, two 250KW portable generators; two motor control centers; an overhead traveling hoist, three welders, plasma torch, structural steel, man lift, laboratory equipment, tools, extra stainless steel baghouses, a 12,000 gallon water tank, pumps, a truckload of electric motors, a truckload of spare parts, truckloads of filter media and wire cages for the dust collectors, a truckload of new one ton totes, and large amounts of hydrogen peroxide and caustic. The equipment will result in a major increase in capacity and a lowering of costs at Madero.
The North American supplier of raw materials has resumed production and has shipped seven trucks containing a total of 128,013 pounds of contained antimony together with gold and silver during January. During 2018, they only shipped 37 trucks that averaged 57,002 pounds of contained antimony per month.
In January 2019 we received seven truckloads of Wadley direct shipping ore containing approximately 35% antimony containing about 70,000 pounds of antimony. This is a sharp increase from last year when the monthly average was about 48,000 pounds. Two compressors have been delivered to the mine and are expected to rapidly increase production once installed.
At the Puerto Blanco flotation mill, the assembly of the cyanide leach plant is rapidly progressing. From Reynosa the plant received one large stainless steel leach tank, an elaborate indirect gas-fired rotary kiln for the regeneration of carbon, three 4 foot multi deck rotary screens, three air operated diaphragm pumps; three motor control centers with breakers, starters, conduit, wire; structural steel, decking and steel stairways’ 5 transformers, 3 overhead traveling hoists, pipe, a large number of electric motors, pipe, laboratory equipment, a stainless steel dust collector, a platform scale, and a 75 HP electric compressor. Production from the caustic leach plant at Madero to process the flotation concentrates has resulted in close to a 100% recovery of the gold and silver. The pilot production is scheduled for shipment during February.
Estimated production for January 2019 is as follows:
Product | January |
Antimony pounds | 156,641 |
Zeolite tons | 1,370 |
The average Rotterdam price for antimony metal during December 2018 was $7,796.591 per metric ton or $3.536 per pound.
At the end of January, USAC had a large inventory of unprocessed antimony as follows:
Location | Form | Antimony # |
Thompson Falls, MT | Crude oxide, sodium antimonate, metal, finished oxide, slag | 93,947 |
Madero MX | DSO, crude oxide, slag | 129,609 |
Wadley | DSO | 14,000 |
In transit MX to MT. | Sodium antimonate, crude oxide | 53,125 |
In transit to Customer | Finished oxide | 58,304 |
Total | 348,985 |
The sale of zeolite was 1,370 tons in January 2019. A new sales team was hired and has already obtained new customers.
CEO John Lawrence said, “The equipment from Reynosa was a major bonus for all operations and will increase capacity while lowering costs. The resumption of production from our North American supplier from an average of 57,002 pounds of antimony per month during 2018 to 128,013 during January 2019 is a major boost in antimony production as well as gold and silver. The testing of the Los Juarez caustic leach of flotation concentrates has been finished with excellent recoveries of gold and silver, and the construction of the cyanide leach circuit at Puerto Blanco is proceeding on schedule. The inventory of 348,985 pounds of contained antimony at the end of January is very large and should provide substantial cash flow once processed.”
About U.S. Antimony
US Antimony is a growing, vertically-integrated natural resource company that has production and diversified operations in precious metals, zeolite and antimony.
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.
SOURCE: United States Antimony Corporation
Original Article: https://www.accesswire.com/534230/U-S-Antimony-Reports-Progress-at-All-Operations
