THOMPSON FALLS, Mont., May 18, 2015 (BUSINESS WIRE) — United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported that its Mexican subsidiary, USAMSA, has received IMMEX certification. This allows the Company to import raw materials without paying a 16% value added tax (“IVA”) as long as it exports 60% of the value of the raw materials in a twelve month period.
Prior to this certification, USAMSA has had to pay a substantial amount of tax on the importation of Australian concentrates from the Hillgrove mine. Further, it has held up the importation of 5 more small furnaces and one large furnace from Montana for the processing of Australian concentrates.
The Company has just received another 216 metric tons of concentrates containing approximately 220,000 pounds of antimony and 130 ounces of gold for processing at its Madero smelter. Presently, the Company is shipping the smelting equipment to Madero where we will have 17 small and one large furnace. The USAMSA accountants are expecting to recover the IVA taxes that were paid prior to the IMMEX certification.
CEO John Lawrence said, “We expect to be in full scale production of the Australian concentrates at a rate of 3,000,000 pounds per year in addition to our own Mexican production by Q3, 2015.”
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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SOURCE: United States Antimony Corporation
United States Antimony Corporation
John Lawrence, 406-827-3523
Original Article: http://www.marketwatch.com/story/us-antimony-reports-immex-certification-in-mexico-2015-05-18
