U.S. Antimony Operational Update
THOMPSON FALLS, Mont.--(BUSINESS WIRE)-- United States Antimony Corporation ("USAC", NYSE MKT "UAMY") reports increased raw material supply, milling capacity and order increase.
The supply of antimony-bearing rock from properties near USAC's Mexican mill and from its own Los Juarez antimony-silver-gold property has increased during the quarter and now constitutes a stock pile estimated at 10,000 tons.
USAC expects to add a second shift at its Puerto Blanco mill in October 2012. Construction of a separate circuit to process oxide antimony minerals is under construction. The Company has approximately 2,000 tons of antimony oxide rock grading up to 17% antimony stock piled at the mill. Sulfide antimony concentrates produced at the Puerto Blanco mill from USAC's Los Juarez property, the Zacetecas property, and Soyatal are shipped to the Mexican smelter. USAC may install its 500 ton per day mill from Montana in Mexico in 2013. USAC was granted a permit to double its smelting capacity in Mexico. USAC can produce more than 10,000,000 pounds of antimony oxide in Montana with antimony metal.
The Company remains in a "sold out" condition. Demand from major military and industrial consumers of antimony products in the Far East, North America, and Mexico remains strong. Consumers seek alternative sources of supply other than Chinese products.
CEO John Lawrence comments, "The growth of raw material supply, milling, and smelting capacity are expected to increase overall production. We expect to report assay results from the milling of the Los Juarez property shortly."
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.
United States Antimony Corporation
John Lawrence, 406-827-3523
KEYWORDS: United States Mexico North America Central America Montana
The article U.S. Antimony Operational Update originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.