THOMPSON FALLS, Mont., Mar 15, 2012 (BUSINESS WIRE) — United States Antimony Corporation (“USAC”, OTCBB “uamy.ob”) reported record sales of $13,118,090 for 2011 up 45% over $9,073,324 of 2010. Pre-tax income for 2011 was $742,530 up 138% from $312,213 recorded in 2010.
REVENUES
—————————————-
2011 2010 %
————– ————- ——
Antimony $ 10,406,636 $ 6,174,062 +68 %
————- — ———- — ——— — –
Silver & gold $ 667,813 $ 420,253 +59 %
————- — ———- — ——— — –
Zeolite $ 2,043,641 $ 2,415,965 -15 %
————- — ———- — ——— — –
Total $ 13,118,090 $ 9,073,324 +45 %
————- — ———- — ——— — –
GROSS PROFIT
—————————————-
2011 2010 %
————- ————- ——-
Antimony $ 888,200 $ 420,253 +111 %
————- — ——— — ——— —- –
Silver & gold $ 667,813 $ 483,307 +38 %
————- — ——— — ——— —- –
Zeolite $ 111,857 $ 470,172 -76 %
————- — ——— — ——— —- –
Total $ 1,674,196 $ 1,373,732 +22 %
————- — ——— — ——— —- –
Profitability of antimony was strong despite large expansion expenses at the Madero smelter and completion of the Puerto Blanco mill and preparation work at the Los Juarez properties. Zeolite sales and profitability were lower in 2011 due to absence of large sales to the U.S. Department of Energy to remediate a radioactive leak at a plant near Buffalo, New York.
A multi-step program is underway at the Los Juarez silver-gold-antimony jasperoid deposit. First, a comprehensive mapping and sampling program has started that has indicated a strike length on the order of 4,000 meters with widths of 100 to 500 meters. The mineralization appears to be disseminated and bulk-mineable.
Second, 2003 tons of older dump material from the Minas Grande open pit were hauled to the mill to determine dump grades, methods, costs, and distribution of mineralization. With a depth of 30 meters, Minas Grande assayed approximately 1.7% antimony, 0.016 ounces of gold and 9.6 ounces of silver per metric ton.
Third, five faces have been prepared for mining to determine a mine grade and have been assayed as follows:
Mine Face Antimony % Gold oz/metric ton Silver oz/metric ton
————– ———- —————— ——————–
Minas Grande 1 2.83 0.031 6.3
————– ———- —————— ——————–
Minas Grande 2 2.71 0.013 9.57
————– ———- —————— ——————–
Reynaldo 2.09 0.019 10.26
————– ———- —————— ——————–
Heriberto 0.79 0.051 4.24
————– ———- —————— ——————–
Veronica 1.16 0.253 8.22
————– ———- —————— ——————–
Fourth, milling will begin on the Los Juarez mined material to determine more accurately the mined grade from crushed rock; the recovery of antimony, silver, and gold; milling costs; concentrate grades; and mill production rates.
Fifth, smelting of the concentrates will confirm recoveries of antimony, costs, separation of silver and gold, and determination and handling of impurities.
Sixth, then a drill program will be initiated from cash flow to confirm continuity, grades, and tonnages. John Lawrence, CEO, cautioned that, “The apparent size of the deposit would require a very robust budget to drill it out completely so that, at the present time, the drill program would be contained within operating revenues to prevent shareholder dilution.”
Lawrence announced that Whitney Ferer of Aaron Ferer & Sons Co. has joined the USAC Board of Directors. The 126-year old Company is family owned and headquartered in Omaha, Nebraska. Whitney is currently Vice President of Trading and Operations and Vice Chairman of the Board. The Company is a major trader of antimony oxide and metal as well as other ferrous and non-ferrous metals world-wide. Whitney was instrumental in opening 8 other offices in the Far East and China.
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.
SOURCE: United States Antimony Corporation
United States Antimony Corporation
John Lawrence, 406-827-3523
REVENUES
—————————————-
2011 2010 %
————– ————- ——
Antimony $ 10,406,636 $ 6,174,062 +68 %
————- — ———- — ——— — –
Silver & gold $ 667,813 $ 420,253 +59 %
————- — ———- — ——— — –
Zeolite $ 2,043,641 $ 2,415,965 -15 %
————- — ———- — ——— — –
Total $ 13,118,090 $ 9,073,324 +45 %
————- — ———- — ——— — –
GROSS PROFIT
—————————————-
2011 2010 %
————- ————- ——-
Antimony $ 888,200 $ 420,253 +111 %
————- — ——— — ——— —- –
Silver & gold $ 667,813 $ 483,307 +38 %
————- — ——— — ——— —- –
Zeolite $ 111,857 $ 470,172 -76 %
————- — ——— — ——— —- –
Total $ 1,674,196 $ 1,373,732 +22 %
————- — ——— — ——— —- –
Profitability of antimony was strong despite large expansion expenses at the Madero smelter and completion of the Puerto Blanco mill and preparation work at the Los Juarez properties. Zeolite sales and profitability were lower in 2011 due to absence of large sales to the U.S. Department of Energy to remediate a radioactive leak at a plant near Buffalo, New York.
A multi-step program is underway at the Los Juarez silver-gold-antimony jasperoid deposit. First, a comprehensive mapping and sampling program has started that has indicated a strike length on the order of 4,000 meters with widths of 100 to 500 meters. The mineralization appears to be disseminated and bulk-mineable.
Second, 2003 tons of older dump material from the Minas Grande open pit were hauled to the mill to determine dump grades, methods, costs, and distribution of mineralization. With a depth of 30 meters, Minas Grande assayed approximately 1.7% antimony, 0.016 ounces of gold and 9.6 ounces of silver per metric ton.
Third, five faces have been prepared for mining to determine a mine grade and have been assayed as follows:
Mine Face Antimony % Gold oz/metric ton Silver oz/metric ton
————– ———- —————— ——————–
Minas Grande 1 2.83 0.031 6.3
————– ———- —————— ——————–
Minas Grande 2 2.71 0.013 9.57
————– ———- —————— ——————–
Reynaldo 2.09 0.019 10.26
————– ———- —————— ——————–
Heriberto 0.79 0.051 4.24
————– ———- —————— ——————–
Veronica 1.16 0.253 8.22
————– ———- —————— ——————–
Fourth, milling will begin on the Los Juarez mined material to determine more accurately the mined grade from crushed rock; the recovery of antimony, silver, and gold; milling costs; concentrate grades; and mill production rates.
Fifth, smelting of the concentrates will confirm recoveries of antimony, costs, separation of silver and gold, and determination and handling of impurities.
Sixth, then a drill program will be initiated from cash flow to confirm continuity, grades, and tonnages. John Lawrence, CEO, cautioned that, “The apparent size of the deposit would require a very robust budget to drill it out completely so that, at the present time, the drill program would be contained within operating revenues to prevent shareholder dilution.”
Lawrence announced that Whitney Ferer of Aaron Ferer & Sons Co. has joined the USAC Board of Directors. The 126-year old Company is family owned and headquartered in Omaha, Nebraska. Whitney is currently Vice President of Trading and Operations and Vice Chairman of the Board. The Company is a major trader of antimony oxide and metal as well as other ferrous and non-ferrous metals world-wide. Whitney was instrumental in opening 8 other offices in the Far East and China.
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.
SOURCE: United States Antimony Corporation
United States Antimony Corporation
John Lawrence, 406-827-3523
