THOMPSON FALLS, MT / ACCESSWIRE / October 1, 2018 / United States Antimony Corporation (“USAC”, NYSE American “UAMY”) reported the restart of two Mexican mines previously on care and maintenance as a result of low antimony prices in 2015 and 2016.
At the Sierra de Guadalupe Mines in Zacatecas, Mexico mining has begun in the Santa Fe drift which is oxide with grades of 30-45% antimony. The direct shipping ore (DSO) is now being sent directly to the Madero smelter in Coahuila. Moving forward at Sierra de Guadalupe, the next mine to be opened is the Santa Monica where the ore is primarily sulfide which can be upgraded to a high grade 60-70% antimony floatation concentrate at the USAC Puerto Blanco mill to make antimony tri-sulfide for the production of primers in all center-fired ordnance. The mines are equipped with load-haul-dump equipment (LHD), compressors, drills, and explosives.
At the Soyatal District in Queretaro, Mexico, 35 to 45% DSO is being mined and shipped to the Puerto Blanco mill for crushing and sampling and is then shipped to the Madero smelter. An explosives license is currently being pursued.
The Wadley Mine in San Luis Potosi, Mexico is now producing one 20 metric ton truck per week of 35 to 40% antimony DSO that is crushed and then shipped to Madero. Current progress is being made to rehabilitate the main drift, the “General Level,” with LHD equipment to increase mill feed. Simultaneously, preparations are being made to install a power line and 200- horsepower compressor. The improvements will allow the use of pneumatic chipping hammers in the mine further increasing production.
Progress on the dismantling and transportation of the Great Lakes Chemical Corporation, LANXESS Holding Company US Inc. antimony plant in Reynosa, Mexico is estimated at 25% completion. Most of the equipment will be used at USAC Mexican mines and plants and also in the United States for operations in Montana and Idaho. When the plant is stripped of all production equipment, the 184,213 square feet of buildings including a two- story office building, and large warehouse with four loading docks occupying approximately seven acres zoned commercial will be listed for sale. An additional eight acres will be listed for sale as residential property.
Construction of the cyanide leach plant for the Los Juarez gold/silver/antimony plant at the Puerto Blanco Mill in Guanajuato is on schedule and should allow pilot testing during Q4 of 2018. Much of the equipment from Reynosa will be used at the project. At the same time, progress continues on the 400- metric ton per day mill for the Los Juarez project.
Estimated sales for Q3 of 2018 and actual sales for 2017 are as follows:
Product | Q3 2018 | Q3 2017 | % change |
Antimony pounds | 371,462 | 422,391 | -12 |
Zeolite tons | 3,553 | 2,671 | +33 |
Gold ounces | 24.26 | 88.62 | -72.6 |
Silver ounces | 5,415.18 | 22,107 | -75.5 |
The decrease in the production of antimony, silver and gold in 2018 was a result of a 42% reduction in raw material supplies from North America
The average Rotterdam price for antimony metal during Q3 2018 was $8,077.73 per ton or $3.66 per pound. The average price during Q3 2017 was $8,310.15 per ton or $3.789 per pound a decrease of $0.135.
CEO John Lawrence said “The long term USAC investments of capital, manpower, research and tenacity are coming to fruition in our Mexican operations. Despite criticism, the corporate identification of major antimony deposits in North America, investment of time and capital, and foresight to hold them is now starting to pay off. By the end of the year, all of the properties could be in production and revenue from antimony, silver, and gold should rapidly increase.”
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: http://www.digitaljournal.com/pr/3959626
