United States Antimony Reports Record Fiscal Year 2024 Results

About this update from United States Antimony Corporation

"The Critical Minerals and ZEO Company" Revenues Up 72% YOY Cost of Sales Down 5% YOY Gross Profit Up 204% YOY DALLAS, TX / ACCESS Newswire / March 20, 2025 / United States Antimony Corporation ("USAC," the "Company" or "U.S. Antimony Corporation"), (NYSE American:UAMY) reported today its fiscal year 2024 financial and operational results. Revenues for the full year of 2024 increased 72% to $14.9 million, an increase of $6.2 million compared to revenues reported in calendar year 2023 of $8.7 million. Cost of sales decreased 5%, or $567K, during the same period. This in-turn allowed gross profit to increase 204%, or $6.8 million. Operating expenses increased $2.1 million to $5.9 million for the full year of 2024 compared to 2023. $1.7 million of this increase is related to expenses associated with existing and new personnel being added at our operating facilities as well as in administrative functions necessary due to the significant growth in the Company. Approximately $569K of this expense was non-cash stock compensation. Additionally, $889K was costs associated with new project development in a number of different divisions of USAC that will not be realized until the future. These projects and initiatives are directly related to the Company's expanded scope of operations. The Company reported a net loss from operations of $1.7 million for the fiscal year of 2024, compared to a loss of $6.3 million in fiscal 2023, an improvement of $4.6 million. The Company ended 2024 with another strong balance sheet with $18.2 million in cash and cash equivalents and only $328K in debt associated with one piece of mining equipment. During 2024, the Company received approximately $1.5 million in proceeds from the exercise of existing warrants outstanding. This resulted in 2,204,000 common shares being issued. Antimony continues to be a scarce commodity worldwide due to a combination of supply issues and trade restrictions imposed on and by certain countries. The result has been the best performing price of any critical mineral as indicated below: With almost a five times increase in price of antimony in just over a year, and being the only antimony smelter in the United States as well as the only antimony smelter in Mexico, USAC is well positioned to capitalize on the opportunity at hand. Our zeolite division in 2024 was a turn around year for USAC. We completed a subst...

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