THOMPSON FALLS, Mont.--(BUSINESS WIRE)--United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported net income of $440,028 on Q1 2015 on sales of $2,947,381, compared to a loss of $358,170 in Q1 2014 on sales of $2,952,314. The profit was due to a negotiated adjustment of $914,770 to the Company’s cost of raw materials. The price of antimony metal was at a multi-year low of $3.60 in January on the London Metal Exchange and is now at $3.91 reportedly due to the closure of numerous antimony smelters in China last month.
For the quarter, antimony sales were $2,239,956 for 521,956 pounds compared to $2,137,764 for 441,218 in Q1 2014. USAC’s average sale price had declined from $4.85 in Q1 2014 to $4.29 in Q1 2015, a decrease of $.56. The precious metal sales during Q1 2015 were $122,665 compared to $156,101 during Q1 2014. Zeolite sales were $ 584,761 in Q1 2015 compared to $658,449. By the middle of Q1, all 12 small furnaces at the Madero smelter were dedicated to processing Australian antimony and gold concentrate. Five more small furnaces and one large furnace are being installed at the smelter. This brings the furnace capacity to the equivalent of 37 small furnaces compared to 8 a year ago.
USAC will host an investor call at 4:15 P.M. EDT to discuss the quarter as well as the initial drilling results at the Company’s gold-silver-antimony deposit at Los Juarez, Mexico.
| Dial In Information: | |
| Conference ID: 8765596 | |
| Toll free: 1-888-397-5350 | |
| International: 1-719-325-2477 | |
| Remote Replay available for 7 days: | |
| Conference ID: 8765596 | |
| Toll free: 1-888-203-1112 | |
| International: 1-719-457-0820 | |
| 4:15 P.M. EDT, Monday, May 11, 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.