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United States Antimony Corporation (UAMY-15.45%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines the company's operations in processing and selling antimony and precious metals, primarily gold and silver, at facilities located in Montana and Mexico. The company also mines, processes, and sells zeolite at its facility in Idaho.
In 2024, the company acquired mining claims and leases in Alaska and Ontario, Canada, and leased a metals concentration facility in Montana, aiming to expand its operations and product offerings.
Antimony sales for 2024 amounted to $11,102,573, an increase from $5,904,480 in 2023. The company attributes this growth to a 34% increase in pounds sold and a 40% rise in the average sales price per pound.
Zeolite sales also increased, with revenue reaching $2,941,675 in 2024, up from $2,462,179 in 2023. This growth was driven by a 9% increase in tons sold and a 9% increase in average sales price per ton.
The company reported a gross profit of $3,466,918 for 2024, compared to a gross loss of $3,344,784 in 2023. This improvement is attributed to higher average sales prices and improved plant efficiencies.
Operating expenses rose to $5,857,730 in 2024 from $3,724,217 in 2023, primarily due to increased compensation costs and project expenses related to mining claims and potential acquisitions.
Net loss for 2024 was $1,730,404, an improvement from a net loss of $6,348,287 in 2023. The company attributes this to higher revenues and improved operational management.
As of December 31, 2024, United States Antimony Corporation reported total assets of $34,642,602, up from $28,094,995 at the end of 2023.
The company continues to focus on expanding its operations and product offerings, with recent developments including the restart of its Madero facility in Mexico and the execution of an option agreement for mining claims in Alaska.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the United States Antimony Corporation annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.