U.S. Antimony Reports Plans to Increase Mexican Mine Production
THOMPSON FALLS, MT / ACCESSWIRE / October 4, 2017 / United States Antimony Corporation ("USAC," NYSE American: UAMY) reported plans to increase Mexican mine production at three of its four mines in the next 30 days. USAC production is in a "sold out condition" and additional raw material is needed for the USAC smelter at Madero, Coahuila, Mexico.
In San Luis Potosi at the Wadley Mine, the gravity mill will be started on lower grade ore that has accrued during the mining of direct shipping ore (DSO) for the smelter. Typically, this ore will make a 35-45% antimony concentrate that is also shipped to Madero. This could increase production by 25-50% at the Wadley mine. In Queretaro, the Soyatal District mines are awaiting new powder magazines to start production of DSO and mill feed for the mill at Puerto Blanco. Grades similar to the Wadley are expected. In Zacatecas, the Guadalupe Mines access road will be repaired and mining will be resumed at the Santa Monica mine for DSO and mill feed for the Puerto Blanco flotation and gravity mill circuits.
In Queretaro, a fourth mine, the Los Juarez gold/silver/antimony mine, awaits a permit from SEMARNAT (Mexican equivalent of the EPA) for the cyanide circuit at the Puerto Blanco mill, which is in the final stages of approval.
Following are the sales estimates for August 2017:
At the beginning of September 2017, the average Rotterdam price of Grade I antimony metal per metric ton was $8,450 ($3.833 per pound), and by the end of September, the price had decreased to $8,425 ($3.81 per pound), approximately 0.08%. Antimony sold during September was lower than August because two customers, totaling 54,894 pounds of contained antimony, did not want delivery until the beginning of Q4 2017. The product had been made and is in inventory. Had it been delivered on time, the production would have been 232,345 pounds, compared to 215,740 pounds in August.
At the BRZ zeolite plant in Idaho, the capacity has been increased significantly. New markets are being pursued and sales should be increasing.
CEO John Lawrence said, "We are excited about the ramp up of Mexican mine production which should increase sales, reduce costs, and create better operating margins before the end of the year."
About U.S. Antimony
US Antimony is a growing, vertically-integrated natural resource company that has production and diversified operations in precious metals, zeolite, and antimony.
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, ability to execute on its increased production and installation schedules for planned capital expenditures and the size of forecasted deposits. 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 PO Box 643 47 Cox Gulch Rd. Thompson Falls, Montana 59873-0643 406-827-3523 FAX: 406-827-3543 E-Mail: email@example.com
SOURCE: United States Antimony Corporation