The company is also exploring a property in Soyatal, Queretaro, and has a flotation mill in Guanajuato. It also has the only smelter facility in Mexico, located in Coahuila, and has recently agreed on an eight-month purchase option for the largest mine in Mexico, located in San Luis Potosi (Wadley mine). Single antimony assets in North America, largest mine in Mexico: UAMY has the only treating facility in the country, located in Montana. Currently, the US has no production of antimony's raw mineral, stibnite. The last antimony mine in the US closed in 2001, given its lack of profitability, and environmental concerns around the mining process. Therefore, the antimony market is commoditized and suffers from chronic under profitability.
After mining, antimony has to be refined, and sometimes transformed into oxides before its usage.Īntimony is a commodity, and one with China playing a major role. The largest world producer is China, with 92% of world output. Antimony HistoricalsĪ commoditized, chronically unprofitable market: Antimony is a metal used as an alloy and as a component of flame-retardants, lead-acid batteries and a plethora of other uses. Note: Unless otherwise indicated, all information has been obtained from UAMY's filings with the SEC. However, given its terrible historical performance, problems with its financial reporting, and the volatility embedded in future developments, I consider UAMY a no-go at current prices, unless solely for speculative purposes.
UNITED STATES ANTIMONY PROFESSIONAL
Several opportunities have opened for the company: the trade war with China has revived US interest in local production of antimony, the gold and silver properties in Mexico show promising exploration results, and a group of activists is pushing for more professional management. The company also produces zeolite and has gold and silver properties in exploratory phase in Mexico.īecause of Chinese competition and depressed commodity prices, UAMY has been unable to generate profits for much of its history, severely diluting its shareholders for the past two decades in order to survive. United States Antimony Corporation ( NYSE: UAMY) is the single manufacturer of refined antimony in the US and Mexico.
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