What were the key takeaways from United States Antimony’s earnings call?

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What were the key takeaways from United States Antimony's earnings call?

What guidance did United States Antimony's management provide for the next earnings period?

What does United States Antimony do and what are its main business segments?

What is the revenue and EPS growth rate for United States Antimony year over year?

What factors drove the changes in United States Antimony's revenue and profit?

Did United States Antimony beat or miss consensus estimates last quarter?

- **$352M Contract Win**: Secured $245M DLA and $107M industrial contracts, 23x 2024 revenue.
- **Production Ramp-Up**: Montana to reach 500+ tonnes/month by 2026, up from 100 tonnes/month.
- **Cash Position Strong**: $38.5M cash (up $20M YoY), minimal debt ($229K).
- **China Dependency Risk**: China controls 85% of global antimony refining, U.S. strategic reserves only cover 2-3 months.
- **Share Price Surge**: +100% Q3 2025 to $7.62, market cap $1B (4x growth).

**【CEO Opening Remarks】**
- Highlighted antimony's critical role in military and industrial applications, emphasizing U.S. dependence on foreign sources.
- Announced $245M DLA contract and $107M industrial contract, totaling $352M in new sales.
- Emphasized vertical integration as the only North American antimony producer outside China/Russia.
- Montana production ramp-up expected to reach 500+ tonnes/month by 2026.

**【CFO Financial Commentary】**
- 9M 2025 revenue: $26.2M (182% YoY growth) driven by price hikes and zeolite volume.
- Gross margin improved to 28% (vs. 24% prior year), despite Q4 margin pressure from falling antimony prices.
- Net loss: $4.1M (includes $5.2M non-cash expenses).
- Cash flow positive from operations, ending Q3 with $38.5M cash (up $20M YoY).
- Balance sheet strengthened with $43M from warrant exercises, minimal debt ($229K).

**【Mining Operations Update】**
- Montana Stibnite Hill: 560 tonnes mined at >10% grade, with 112,000 lbs antimony delivered to smelter.
- Alaska: Permitting delays, but 350 acres acquired for future processing.
- Canada: Cobalt and tungsten projects in Ontario, with SRK Consulting completing resource report.

**【Procurement & Supply Chain】**
- Global procurement network expanded to 10 countries, securing 330 tonnes/year.
- Bolivia to supply 150 tonnes/month of antimony metal starting Q1 2026.
- Chad engagement for long-term mining partnerships in Africa.

**【Investor Relations】**
- Q3 2025 share price surged 100% to $7.62, market cap up 4x to $1B.
- Institutional ownership rose to 30% from near-zero 1.5 years ago.
- Media campaigns highlighted as 'North America's only antimony smelter'.
- Listed on NYSE Texas Exchange for enhanced visibility.

**【Strategic Initiatives】**
- 2026 revenue guidance: $125M (excludes new trioxide contract).
- Mexico smelter expansion to 200 tonnes/month, with natural gas access advantage.
- Alaska smelter feasibility study underway, pending LNG cost analysis.
- Larvotto Resources (Australia) acquisition proposal rejected, but 10% stake retained.
- China's 60x global antimony production dominance and export controls highlighted as strategic risk.


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