United States Antimony Corp (UAMY) Q4 2024 Earnings Call Highlights: Record Revenues and Strategic Growth

United States Antimony Corporation (UAMY) has just reported its fiscal year 2024 results, and the numbers are nothing short of spectacular. The company saw a 72% year-over-year increase in revenue, reaching $14.9 million, up from $8.7 million in 2023. This remarkable growth is a testament to the company's strategic initiatives and operational improvements, which have positioned it as a leader in the critical minerals market.

One of the key drivers behind this significant increase in revenue is the surge in antimony prices. Antimony prices have increased nearly five-fold in just over a year, driven by supply constraints and trade restrictions. As the only antimony smelter operator in both the United States and Mexico, UAMY is uniquely positioned to capitalize on this opportunity. The company's strategic initiatives, such as the expansion of the Madero Smelter in Mexico and the planned mining operations in Alaska, are expected to further drive revenue growth.

The Madero Smelter in Mexico has already started operations, and the company expects it to become a significant contributor to its financial results in the remaining quarters of 2025. The smelter is equipped with state-of-the-art technology and has undergone necessary improvements to furnaces, all completed on time and below budget. This initiative not only increases the company's production capacity but also positions it as the only antimony smelter operator in both the United States and Mexico, providing a strategic advantage in a market facing supply constraints and trade restrictions.

Another significant initiative is the planned mining operations in Alaska. The company has announced that it will begin mining antimony from its Alaskan claims in the third quarter of 2025. This move is part of the company's strategy to bring antimony ore from its own mining claims located in Alaska to Montana. This initiative aligns with the company's goal of reducing dependence on foreign antimony sources and increasing production capacity to meet market demands.

The company has also made substantial improvements in its zeolite division. The production capacity at the Preston, Idaho facility has been increased from around four tons per hour to over twelve tons per hour, and the plant availability has improved from below 50% to 98.4% in the fourth quarter of 2024. These improvements have allowed for a 9% increase in sales volume of zeolite sold. The company has also extended its ground mining lease to 10 additional years with improved economics. These operational improvements in the zeolite division are expected to contribute to the company's overall growth and financial performance.

The company's substantial investment in human capital, including the addition of eight executive positions and two sales roles, indicates management's confidence in sustaining this growth trajectory through 2025 and beyond. These new hires are crucial to the company's expanded business operations and growth initiatives.



In conclusion, United States Antimony Corporation's fiscal year 2024 results reveal remarkable financial improvement with 72% revenue growth to $14.9 million, while simultaneously reducing cost of sales by 5%. This operational leverage produced a 204% surge in gross profit and narrowed operating losses from $6.3 million to $1.7 million—a $4.6 million improvement. The balance sheet strength is impressive with $18.2 million in cash and minimal debt of just $328K. This financial foundation provides significant flexibility to execute strategic initiatives, including antimony mining operations in Alaska and the reactivation of their Mexican smelter this month. The antimony market dynamics create a perfect environment for UAMY's expanding operations, with prices increasing nearly five-fold in just over a year. As the only antimony smelter operator in both the US and Mexico, UAMY holds a uniquely advantageous position in a critical minerals market facing supply constraints and trade restrictions. Their zeolite division transformation is equally noteworthy – plant availability increased from below 50% to 98.4% in Q4, while production capacity tripled from 4 to 12 tons per hour. The addition of dedicated sales personnel for this division suggests management expects significant revenue growth beyond the 9% sales volume increase already achieved. The substantial investment in human capital – adding eight executive positions and two sales roles – indicates management's confidence in sustaining this growth trajectory through 2025 and beyond.