U.S. Antimony Reports Mexican Production
January 09 2017 - 8:00AM
Business Wire
United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”)
reported that it has started production from its own Mexican
antimony and gold and silver properties. January production could
be approximately 50,000 pounds of antimony, and the production will
be ramped up from internally generated cash flow.
The Company will produce metallic antimony in Mexico in 2017 for
direct shipment to customers in the United States and other
countries. This will provide a large savings in freight and
processing costs compared to final processing in Montana.
Additionally, USAC will enjoy the full amount of antimony price
increases rather than the small percentage it receives by smelting
custom raw materials. The plans for the Mexican properties are as
follows:
WADLEY, SAN LUIS POTOSI. During 2016,
the property produced 277,867 pounds of DSO (“direct shipping ore”)
with a grade of 35.9% antimony. Production of the high-grade will
be augmented with the installation of a compressor and pneumatic
hammers. The lower grade will be milled at Wadley to make
concentrates that contain 25.1 to 41.2% antimony.
SOYATAL, QUERETARO. During 2016,
Soyatal produced 155,282 pounds of antimony from mill concentrates
produced at the Puerto Blanco mill with an average grade of 24.6%
antimony. The milling of dumps will continue, and underground
mining will begin to produce DSO.
GUADALUPE, ZACETECAS. Guadalupe was
idle during 2016. The Santa Monica drift will be reopened and DSO
will be mined and the lower grade will be shipped to the mill at
Puerto Blanco to make a high-grade sulfide concentrate for
Madero.
LOS JUAREZ, QUERETARO. The alkaline
leach plant in Mexico is being run to process concentrates from
previous milling. SEMARNAT (the Mexican counterpart of the EPA) is
reviewing the USAC application for a cyanide leach plant for the
Puerto Blanco mill tailings. The flotation mill will be started
during Q1 2017 to begin processing a 19,000 ton stockpile of Los
Juarez rock without the cyanide circuit to verify previously
disclosed estimates of recovered values.
USAC does not claim any reserves in these properties in
accordance with SEC. definitions or per Canadian National Institute
43-101.
Following are the sales estimates for Q4 2016:
Product
Antimony pounds
632,801 BRZ zeolite tons
2,779 Precious metals $
73,363.97
CEO John Lawrence said, “The three factors that will increase
antimony profitability are (1) lower raw material costs from
Mexico, (2) increasing Mexican production and (3) increased prices.
Historically Wadley and Soyatal produced more than 6,000,000 pounds
per year, and our costs per pound will go down with increasing
Mexican production.
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.
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/20170109005134/en/
United States Antimony CorporationJohn Lawrence,
406-827-3523tfl3543@blackfoot.net
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