United States Antimony Corp (UAMY) Q3 2024 Earnings Call Highlights: Strong Sales Growth Amid ...

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Release Date: November 12, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

  • United States Antimony Corp (UAMY) reported a 23% increase in sales for the first nine months of 2024, driven by higher antimony sales volume and demand.

  • Gross profit for the first nine months of 2024 increased by 107% compared to the previous year, attributed to improved efficiencies and higher sales volume.

  • The company has made significant operational improvements in its Zeolite business, enhancing production processes, safety, and equipment, which has led to higher product throughput and improved customer delivery timing.

  • United States Antimony Corp (UAMY) has stabilized or improved its working capital levels, including inventory, receivables, and payables.

  • The company is actively pursuing new antimony supply sources and has narrowed down potential suppliers to four or five, with samples being analyzed for processing compatibility.

Negative Points

  • Operating expenses increased by $1.8 million for the first nine months of 2024, primarily due to non-cash stock compensation, project costs, and salary and board fee expenses.

  • The Zeolite business experienced a decrease in gross profit by $255,000 and an increase in operational losses by $562,000 due to increased maintenance and operational costs.

  • Discontinued operations in Mexico generated a loss of $195,000 for the first nine months of 2024, despite higher sales.

  • The company's antimony supplier had a planned shutdown for two months, which lowered antimony sales in the third quarter and affected average sales price per pound.

  • United States Antimony Corp (UAMY) is operating at only 50% capacity at its Thompson Falls facility, limiting its ability to fully capitalize on higher antimony prices.

Q & A Highlights

Q: Are there any Antimony reserves in the ground at Thompson Falls? If so, how much and how soon can this resource be exploited? A: Gary C Evans, CEO: We have some mining rights, but based on the history of the mine, it does not seem conducive to open it back up. Joe Barsz, Co-CEO, added that the claims are surrounded by forest service land, making it a waste of time due to permitting issues.

Q: Regarding the additional sources of feedstock you're evaluating, how close do you feel you are to securing additional feedstock, and how quickly might this material become available for processing? A: Gary C Evans, CEO: We are getting close and might receive a small container for testing soon. We hope to announce something before the end of the year.