Tue, 22 Oct 2019

THOMPSON FALLS, MT / ACCESSWIRE / September 9, 2019 / United States Antimony Corporation ("USAC", NYSE American:UAMY) announced progress on the gold, silver, and antimony Los Juarez project. Major milestones towards production that have been completed in the last month include the installation of the HDPE pond liner in the 5 acre tailings pond, and the deepening of the water well to 222 meters to provide more than 240 gallons of water per minute. The pond and the well will be more than adequate to ramp production from 100 tons per day to 400 tons per day. Projects remaining include fencing the pond, completion of the laboratory for fire assaying precious metals, and atomic adsorption equipment for assaying antimony silver and gold in the leach circuit. The mill fine ore bin has been filled with crushed ore from the mine. Initial testing could start within 30 to 60 days.

Leach plant with all major equipment installed and ready for testing

Five acre tailings pond for leach plant with completed liner.

Estimated sales for August 2019 are as follows:

Item

August 2019

Antimony lbs.

146,641

Zeolite tons

1,159

The average Rotterdam price for antimony metal during August 2019 was $6,020.35 per metric ton or $2.73 per pound. To lower the costs of antimony production the following steps have been taken:

  1. The North American supply Agreement for antimony raw materials is being re-negotiated retroactive to the beginning of Q3 2019.
  2. The costs of mine production in Mexico have been reduced drastically.
  3. The Madero smelter is now utilizing LRF furnaces with good lining that require less fuel, coal, electricity, maintenance and manpower. Recoveries are better and faster.
  4. Rather than shipping a 70-75% crude oxide to Montana from Madero, we are now shipping a 95% metal product. This saves on freight and approximately $300.00 per ton for slag disposal.
  5. Furnaces in Montana are being relined to cut fuel, coal, electricity, maintenance, and labor costs.

CEO John Lawrence said "As a result of lower antimony prices and increasing prices for gold and silver, USAC will prioritize precious metals. The Company is now very close to the start-up, testing and shake down of the Los Juarez gold and silver leach at the Puerto Blanco mill. The Company continues to take steps to reduce its costs of producing antimony products in response to the lower global sale prices."

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.

Forward Looking Statements:

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.

SOURCE: United States Antimony Corporation



View source version on accesswire.com:
https://www.accesswire.com/558757/U-S-Antimony-Announces-Continued-Progress-on-the-Los-Juarez-Gold-and-Silver-Project-and-Reducing-Costs-of-Antimony-Production

More Milwaukee News

Access More

Sign up for Milwaukee News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!