United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported a loss of $552,206 (which included non-cash charges of $414,451) on revenues of $2,954,677 for Q2 2013. Antimony production totaled 433,268 pounds versus 390,930 pounds for the second quarter of 2012. Mexican production of contained antimony increased to 201,463 pounds up 186% from the 70,259 pounds produced in the comparable quarter of 2012. Other non-Mexican supply during Q2 2013, however, was 88,866 pounds lower than a year earlier but has since resumed normal supply levels. USAC made its initial sale of silver and gold from its Los Juarez property in Mexico. Antimony prices fell by 34% year-over-year from $6.46 per pound to $4.22 per pound.
USAC’s natural gas pipeline to its smelter at Madero, Mexico was put in place and is ready to be hooked up to Pemex’s mainline. The substitution of natural gas for propane is expected to reduce fuel costs by 75%. The cost of fuel is second only to the cost of raw materials. USAC’s 500 ton per day mill has been partially transported from Montana to USAC’s Puerto Blanco mill.
USAC’s CEO, John Lawrence commented, “After many years of preparation and expense, our Mexican strategy to position USAC as a major free-world antimony supplier is now in place. Raw material sources include the Company’s Los Juarez antimony-silver-gold property, and most of Mexico’s historically important antimony producers including Wadley, Soyatal, Guadalupe and Guadalupana. USAC is vertically integrated with its own antimony deposits, mills, smelters and infrastructure. USAC remains in a sold out condition and is the only significant producer of antimony in the United States.”
The Company will host an investor call on August 8, 2013 at 2:00 pm EDT the call in information is as follows:
Dial In: 1-888-539-3678
Conference ID: 8816777
Please dial in 5-10 minutes prior.
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.
United States Antimony Corporation
John Lawrence, 406-827-3523
[email protected]
