U.S. Antimony Reports Antimony Price Increase and Large Zeolite Order
May 02 2016 - 8:00AM
Business Wire
United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”)
reported the following sales for April:
Product
April 2016 Antimony
pounds 221,145 BRZ
zeolite tons 1,253 Gold
from Australia ounces
60.109
Production of antimony during April was actually 349,224 pounds
that had been sold but 128,079 had not been delivered. Zeolite
sales were good despite bad weather conditions. Additionally, BRZ,
a wholly owned subsidiary of USAC, has received a new order for
1,400 tons of zeolite for the mining industry. The shipment of this
order could be as fast as 160 tons per week.
USAC reported that the Rotterdam price for antimony metal has
increased from $2.449 per pound on April 1 to $2.834 on April 25, a
15.7% increase. The Rotterdam pricing is fundamental to Europe
where inventories are low. The increase in prices will begin to
impact USAC sales by the end of May.
The two largest impediments to the profitability of USAC have
been (1) the decline in the price of antimony from $8.11 per pound
in April 2011 to $2.27 in January 2016, a 72% decrease, and (2) the
“non production Mexican expenses” that have been included in the
cost of antimony production. These costs include the holding costs
of mines and mills in Mexico that have been idle due to a lack of
furnace capacity at Madero and the solving of the Los Juarez
metallurgical problems. To solve this second problem, in April the
processing of Wadley hand sorted ore and concentrates was begun at
Madero. Additionally, the SEMARNAT (our equivalent of the EPA)
Environmental Impact Statement and Risk Analysis Study will be
filed in May to permit the installation of the cyanide leach plant
at the Puerto Blanco mill in Guanajuato. The permit, when issued,
will also start the significant production of gold and silver from
the Los Juarez property.
CEO John Lawrence said “the increase in the price of antimony is
what we have been waiting for and the processing of the Mexican ore
inventory will supplement income to fund the Los Juarez leach
plant. Additionally, new applications of zeolite remain
exciting.”
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160502005135/en/
United States Antimony CorporationJohn Lawrence,
406-827-3523
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