THOMPSON FALLS, Mont.--()--United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reports a loss of $175,125 on revenues of $2,655,123 for the quarter ended September 30, 2012. John Lawrence, Chief Executive Officer commented, “Due to the expenses and capital expenditures for mining, milling, and smelter equipment and new general and administrative expense incurred in the quarter, the Company is now entering a sustained period of production growth and revenue from its facilities in the United States and in Mexico.”
“Due to the expenses and capital expenditures for mining, milling, and smelter equipment and new general and administrative expense incurred in the quarter, the Company is now entering a sustained period of production growth and revenue from its facilities in the United States and in Mexico.”
The Company’s main supplier of antimony and precious metals for processing in Montana has begun to significantly increase its feed in Q4 and will continue through 2013 and 2014. The Company’s smelter at Thompson Falls, which has a capacity in excess of 10 million pounds per year of antimony oxide, has the capacity to meet this customer’s needs. The Company’s zeolite division was awarded a second nuclear remediation contract for the Chalk River Nuclear Plant in Ottawa, Canada.
Raw material supply
Milling and smelting raw material supplies remain plentiful in Mexico from the Los Juarez antimony-silver-gold property and other antimony properties that have begun to gear up their production due to the Company’s Puerto Blanco mill and Madero smelter. Mexican mines produced more than 35 million pounds of antimony metal contained during World War II. A forty foot high face has been cut at the Los Juarez deposit to provide more than 8,000 tons of mill feed. Five other faces have been prepared. New analytic equipment now provides assays of mill and mine samples in minutes. It will be a major advantage for mine control.
Milling at Puerto Blanco
The initial 150 ton per day antimony flotation mill is now operating 20 hours per day and will be increased to 24 hours per day shortly. A new gravity circuit for oxide feed will add 75 to 100 tons per day of capacity to the Puerto Blanco mill and is expected in to start in 2012. A site has been selected for the Company’s 500 ton per day mill, currently located in Montana. Permitting and transportation of the new mill will begin in 2012.
Smelting at Madero, Mexico
Smelting capacity is expected to double by the end of Q4 2012. A natural gas pipeline is being installed that will replace high cost propane and reduce over-all smelting costs by 40%.
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. 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.