UAMY - Earnings call transcript Q1 2024 | United States Antimony Corporation

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Operator

Greetings. Welcome to United States Antimony Corporation First Quarter 2024 Financial and Operational Results Meeting Webcast. [Operator Instructions] Please note, this webcast is being recorded. I will now turn the webcast over to your host, Gary C. Evans, you may begin.

Gary Evans

Thank you, Karen, and thank you, everybody, for joining the U.S. regarding quarter call March results conference XXXX. XX, Corporation our financial first ending Antimony me Bardswich, as today Board with Officer. have I Joe co-CEO is Chief me; who member who with as Isaak, well Rick our Financial and our is

quarter. our turnaround This was

We we the bleeding, stopped have successfully hope.

Cost is I revenues our I of dedicated know team shareholders and sales want announce, that to of will our Board something proud less. up. something profit appreciate. to up group were say up And was management also Therefore, our very were I hope gross significantly.

jewel, position our share our or Our price. and crown per per of X/X cash stock equates price to a basically $X.XX modestly of share increased

assets anticipate let So the through steal U.S., is detail the giving to from there. I our receiving Rick? us CFO, market and him the first really in primary monies here nor not we our with Isaak's quarter. thunder, not much our want for go our Mexico Rick financial divestiture report more the for in credit

Richard Isaak

our in last operations how shut discussed we earnings them. and we to call, our At first sell in down intend the Mexico Gary. quarter Thanks,

financials have It's the reporting as in operations Now periods our our continuing quarter of easier results first a operation in discontinued presented we to Mexico see discuss our and XX-Q. all and operations.

year's we operations our more continuing in So in year's year's provided quarter our to the last was that first last first year Gross in operating the sold $XXX,XXX. this antimony for of the operations provided quarter, from first $XXX,XXX, of $XX,XXX. and zeolite had quarter. and activities the of in quarter was continuing in operations. Sales we quarter. continuing from by first than income continuing some than our first first operations the Also, increased quarter cash more total talk by highlights quarter end, last the over first first let's profit financial doubled quarter XX% and for about first dollars Cash

increase to paying as employees go a Where said cash the flow, do and do ideas our in example that First, not already here? personnel more customers level, quarter we good mining off. we to but the zeolite and and added timing high last each already is We are BRZ company. What we're At other in and meeting is experienced stop. and that contribute group over all It now all first a requested and strong specifically? than by costing and I've ourselves processing sold And group. doing The adding year's Board of some is money, plant our This an and first profitably from zeolite. management team strong our improve revenue zeolite grow challenge in of past. amount in share experienced We are at Idaho. to we're of quarter. past. and an strengthening this personnel A the the changing delivery increased it's our

mineral reserves that company. and potentially potential that if have discuss the yet our product mineral companies can't have government. have yet. seasoned that involved we position will very to sell Board to experienced also unfortunately, and these They and a the don't with to have connections are realized connections and company our we I government U.S. be Second, know details trying initiatives sale. not They claimed is been on for and are

that status to stop. a However, be and the assured, quo we does are not continues team challenge

bit more detail. a review financials our in Let's

flow. First, cash

royalties. Cash a to improvement first by of inventory first receivables, collections that cash due maintaining capital improved flow primarily Series was the to in on from continuing flow was of cash payment first D XX, Gary to of financing improved cash a Overall, continuing was of Primarily, better $X.X in quarter our better And due increased amount to improved quarter last million $XXX,XXX as by mentioned, preferred management first the almost year's XXXX. million. dividend quarter quarter. cash on stockholders. equivalents due in to operations activities activities $XXX,XXX compared balance and So operations first at management a operating our the our and used working our of of the by XXXX year XXXX. compared in This with last the quarter March $XX.X low

the Next, income let's at statement. take a look

As demand from earlier, on antimony operations continuing XX%, sales said higher increased mainly I zeolite. for and

Zeolite is sales about and bit. inventory can levels in our XX% is affecting product lower inventory this You the XX% the lower increase about a in quarter see in inventory antimony quarter.

the at had at but the sourced March currently XX, evaluating. company last Also, doubled years over as from sources ore collected. Gross and our some XXXX, are our for said, we higher a versus antimony a of few end been quarter, since have these the the I are have more sales Montana than that receivables the in majority year. in receivables new ore headquartered in have noticeably antimony we profit, quarter and of of Canada, plant We we first first

profit Our It's that continue. this very first in will antimony to gross was quarter. strong tough the predict

the since variable XX% price, end one which $X.XX, increase our However, market is helps the that can around antimony XXXX. of gross which is I increasing say currently a is that profit

this years. of seen X an not have antimony market price We over high in

the the it other higher zeolite of future Our costs, XXXX predict this costs. of maintenance with were we levels struggled older and that and to of finished and at machinery, types inefficient but these maintained equipment, costs vehicles strong, difficult business with repairs makes beginning quarter the over years, not

webcasts. same work solid We'll future on However, progressing the issues working more streams near of to assets prevent that the these working our we at while and the time, in on and keep types for both share with continuing been have a are plan to term future. downtime, and caused details these costs

to of higher than going the is expense be of expenses should first and last legal relates later to it when XX-K. front quarter our stock That's This that about in for About the mainly year of year and compensation expense filing $XXX,XXX it operating portion incurred XXXX was last the compared $XXX,XXX increased now. first we forward. Last, this were first in were a quarter. quarter that the for audit year's loaded fees

you. Gary, I'll back pass it to

Gary Evans

Joe? Okay. River Thank our call Preston, Bardswich, now Joe to up to talk like in Zeolite you, I'd Rick. to about turn over who's Idaho. the Bear going operation

Lloyd Bardswich

fourth Thanks, That to first Gary. Mine dust Safety and quarter related of Major by orders even and MSHA, inspection aggressive during by temporary repairs hit federal shutdown reconstruction. an major were Health Administration, program we factor, quarter the the year. included and this the and

of the Jeff [ Our all-hands-on-deck a the response and of new type on ], our O'Neil newly Manager, -- hands-on with having plant And and who experienced on was brought mining seasoned additional we Jeff mechanical previous senior as Carrabba, director. company experience. hired Joseph he had General appointment worked mining executive manager, Nick enhanced a engineer, by as as Fink, projects

safety those success explained conducted importance brought English We the site for experts the the training safety Management workforce, in of paramount additional of Spanish. both them to and in of the they and themselves times, emphasis instill an culture to safety. to responsibility continue and of this company of fellow to protect on and their at workmates work the employee every replaced all

cone the installation protective PPE, and of vibrations the since crusher. prior liners and the the new operations. and of complete on the the installation This the in started. and and new includes tangible there jaw change experienced cone new that tools done plan proper of This of base a allows intense to cone. recommended throughout of being by the Physical had meet request personal in or elimination the at to been speed initial positive job upgrades reconstruction operate the base attitude this that job includes to reports the crusher Jeff the without resistance the full wearing the for equipment, manufacturer to support purchase as modification is

this bottleneck. used final or experienced equipment XX installed plant that reduce and to the the have and expect in shutdowns downstream the the remains as least, to in continual original impactors We plant at screening been of equipment curtail, purchased months. The at construction last are still pattern the very

consisting engineering, permitting. of entire ore provide drone on A the change. never a other for to single and has In a the about survey. we're order, match reclamation doing preliminary date. The of the we commissioned, calculation lost will is We'll that The March, both base in definition was without We had the But reserves. words, can SEC plan. be a which weather which has This ore when the problems burn missed beginning or operation scheduled the calculation sixth can mining with will far place With the can a the in itself the of they map today, mine the contour a meet which reserve ship on mining received. tell of plan. An plan. scheduled downstream. now reclamation we since production delivery that attention pit for concentrated become the established survey a day same body of program not to will for regulations been With reclamation production definition upstream have orders meantime, ore newly have mid-June. nor XX corrected, we and holes property, a This enable reporting X since now begin day drill in operated record. drilling full so ore of customer the is time at the our dates the and is reserve

the the on be actually future up the way be the I notice had We'll administered of of end Management at to bureau. last moment. That's Bureau of This all be of on part will mine with ahead the month land. prepared, the by than Gary. Land program drill rather the the in up under a program, filed curve the As followed federal permitting comments of held will lands permit expansion to BLM by drill that being operations the with

Gary Evans

quarter of think, single you, I And emphasize the quarter, XXXX, at of Joe. least And we River. want down, Bear end we I day. the at to days down that haven't were that first since XX this Thank don't a been

know was second I month the of and report the banner quarter So we when a for anxious April be to us, all they're will done. numbers month

else is of Biden, is the to days, tariffs couple name and jump That has the over at factor of been our he's That's the in antimony guess and on critical they've antimony Well, and big Let's business company mineral on that what? raised year of as President of a over. up sudden, a -- per a last beginning company's past. the number just now. AI are Chinese reason side become by of being put ticket and for antimony steel almost an attempt, XX% the government. this the $X.XX that says these all all they're been painted in why hot what actually has, flooding that's technology. to years, He out a since Chinese and over goods they item, over one take our pound. cheap Rick everybody market quote, price doing subsidized his the of is He's mentioned,

and Russia, the which reserves So and for and all That's U.S.-derived antimony, by why firing harden primers needs and the much so fast? lead control exactly shells. supply military to construct reduced up States the the the over around has antimony United price our mechanism China Duh, world, worldwide has bought bullets required the so in order so and for primers. of the this they supply increased of Because available. dramatically XX% now

shut as light as of antimony you end tunnel with company, meet need, reason, at because Mexico the what and not the down are we, Mexico. for see mining in could So we any doing a well good of cost know, to we the this

locate talk something excited well about can't this of Board of in a that, and antimony as one as mentioned, working been to business. those It's members leasing but feverishly that actively other we're the States, Joe detail obviously about months his like we X in United safe is properties. have excited for because about done so, our it. we other and We deposits now yet, So in have country we're trying about experience

to been the major the sell significant in days not-too-distant We've and facility to getting something shortage X a customers there truckloads opportunity mind, our facility. mention So also for just the hopefully us, our runs in highest that antimony Falls processing us oxide. some want of Gus, that that from This, to future. I who the of bidder. product we inquiries disclose our is is inquiries. got a Thompson indicates ago can for market our severe different gives in couple

per We to are $X time. customers selling getting hadn't pound a in from $X.XX the we from inquiries we product in heard long amount. are And

and that's other respect supply, activities, doing. So among new things a we're to have these we're we that what try with working only change obviously limited leasing feverishly to to

XX, all call not surrounding activities we As on I activities these to antimony confidentiality acquisitions. team a for leasing we disclose we to disclose so Due that last your in April new zeolite, we do in but both yet. mentioned pursuing management also anxious held have but mineral We're the these and our simply are to. only yet Board conference and want most reasons you position them. ongoing, can't competitive activities, we're Believe not to various me, to and

So all patience, is my this of answer to you about grasshopper.

think are are We and these able you'll to be I disclose we working when activities. pleased hard,

have also an mention Before our Annual we questions, to planned sometime you July. want scheduled turn for listeners the call Meeting I that over Shareholder to we to in

the of shareholder had last meeting an December. year near end right we know, As you for annual

in we're of doing When those plan meeting do year Registration definitely to is in shareholder July having sometime likely qualified earlier will Shelf trying as operations, statement, speed we in and goals. we as improve file that be the a well. Universal to So one to the are everything that,

So call our the to over like to now turn question. Karen, I would first

Operator

get our is, [Operator "Are And you did?" PPTA a question DoD injection like going to Instructions] first

Gary Evans

kind obviously We get of injection. would any to love grant

with As Washington, to call, at about our and been in have having I other we I discussions are mentioned actively parties helping Washington last us.

meat in is the that the holding a of should to bone have things Washington and leasing mentioned is back short you. One money. of that's little to to order, more I that on go completed, activity which some seek this we'll that be When up this

that me, worldwide, the situation as is and increased situation our a up attention. Ukrainian-Russian we're are the this wars leasing do it Israeli-Hamas fact prices because have have antimony the so areas well antimony a we get the till means supply, about that being to and We does Washington, the to funding think in we antimony talk as reducing lot, I only fact smelter the that completed we have that getting using couple fact we're States. so involve of to but United wait to believe have the back country. And want much, we're anxious supply of China the the activity of more other we that

Operator

how?" And our next question profitability, is, to "Has zeolite and returned

Gary Evans

you to on jump want one? do Rick, that

Richard Isaak

Yes.

with earlier, costs. mentioned, as saw older through went we had the of I with has first some downtime equipment, and Obviously, as So some difficulties, that some quarter, been zeolite vehicles, has with older machinery downtime. inefficient comes

XX-Q, So in the loss and in a they in position saw as the now. are you right press release

which with I sales kind cost is improvement, is BRZ, think there point doing what at difficult predict. about is to what and at signs definitely. What link are Joe of the the of that Jeff up and talked

away at I think chip to we it. continue

and unforeseen I think is something are the as machinery and that inherited, that we costs can equipment come were imagine, up. you

turn. we get are point to But to at predict that that will it So every try but -- think know what we working long-winded it's answer, to to difficult day I profitability. the at that

Gary Evans

to if that being follow up a to said, you've able what cash X/X And of X ability produce just product generate your effect remember, dramatic as flow. positive lost quarter, has anybody on in to Rick

hopefully, profitable. As better, will the downtime said, haven't And end numbers I'm look since of quarter we and the we first that second any expecting much the quarter. had

Operator

there next our And to to shop question plan UAMY a is, "Is institutions?"

Gary Evans

from were Answer Antimony just in And stock. X:XX. I asking your known and a X a cards years. because X:XX of to And actually gave for here club of investment were I this least or out afternoon. the at those, know are them I million at capital. I of this means of couple X was in people these represent XX morning that an business people I assume I what meeting till absolutely. Tiger is definitely I've $XX kind stock these that billion lot guys a question was XX to and doing, $X buying know Dallas

when with cash dealing government that's price you're and seeing of not in operations, that So have it's mineral you're profitability -- a you wants. and your hard critical share mineral and half a sale in the a a improved you're

mentioned So price of It's share an difficulties institution is market of the in past, institutions and excited hard get $XX as for one company. our million the cap. is our cap I've to about market marketing to a

So I've but undoubtedly, think when mentioned, the we market able operating will respect to there continue to to perform and things changes be to happen we'll with making of the financial that the not this we're results some year. quite able yet, to that announce institutions. We're I and

Next question.

Operator

royalty?" the BLM is, command And lands "Do question a the next

Gary Evans

let I'll you respond Joe, to that.

Lloyd Bardswich

the royalty There is from no BLM.

even However, agreement was rest Ranch with and is on from for zeolite a processing. that the is on Websters, -- agreement material BLM the where for the royalty not BLM get royalty; property the there original applies plant to Webster the where Websters The royalty. is where a does coming no, their located the yes, the onto the of get Websters is answer the the located, to original the deposit plant

Operator

"Have from analysis Montana. moving to assets, next in on potentially these parties? to of perform the Has been yet question, third furnaces, Any interest cost-benefit you et cetera, any valuations?" potential The there properties some Mexican

Gary Evans

could not of most answer teams, to and we stock look equipment any a the operations. equipment at Thompson Preston, I'll other one our at Okay. both it. and still unfortunately, they is, is have over useful in of in in it There that, then But to turn piece rolling if stab debated. our use Rick. is I'll take Falls see might the Yes, being Idaho be management that of had

do to has marketing with question that of part assets. Second the

firms the sort is X surprised One the been think couple that. us that a interviewing in high, thing pretty we was of the value properties. and of of we to of or sell have different weren't land -- now itself X I aware that

price in than not higher were that we from position we -- we're so a expected but And to talked talk about they the brokers to. yet ranges, from

So with add assets. And Rick, -- we're to a up in do want those finishing agreement any of stages that? anything the broker an begin marketing of to final to you stages --

Richard Isaak

a book interest valuations firmed higher look Yes, did and sure assets at like properties, up year, you have the did of has of noticed, we company would any write-down impairment. were in there quick make to value the than that or couple end been as the the the potential yet, not of Just the things. fair value. any And nothing

little can that a valuation. an on give you So bit of indication

Operator

And possible question "Aside and is, is the start that as material antimony zeolite, a future?" valuable currently may and looking any next you resource needed from the there in other at

Gary Evans

Yes. And in other but at that, the and we that Falls, have answer you pull gold of yes. that material some know, we It's so Thompson just very things out. we minor, is the received

properties to know list the don't think, working Joe I is are Bardswich other we the XX. of, opportunities. really definitely know of I mineral has mineral and another talk what that it they them One hard, about critical yet. on We if is hard some want

deal kind being the answer gold, So is silver, companies we're looking companies for looking know other mining lot looking how other you're certain things. new company sites, And with yes. antimony antimony. a for of antimony Typically, an at for because companies to not anomaly be an when of looking copper, there'll

mineral your question deemed leasing is, that property has a critical another on yes, we're that but answer now one mineral the to hard list. is -- the So right

Operator

shelf question entail is, shareholders?" filing common next July does the for The "What in

Gary Evans

flexibility move that can unique gives there does us, them. is for the when we so for filing What on and are it if opportunities shelf financial us us that

your the prepared can't -- with do If you proper about the when not don't tools chest, in opportunity you it arises. if tool anything you're

shelf the have universal acquisition, raising securities and give what So our flexibility if give deemed or is the all management Board does capital use team and you. an we to for appropriate when for

and tool of prior -- the we that the that The qualify in Qs because for we So year, was of and date July. reason filing our is it last out is in late in we're July a management the July. period K penalty is strictly

the have we the shelf wasn't for If So timing. that, the reason for that's it already had filed. would

Operator

pursuing the few Excellent. The next produce antimony antimony leasing an you is And the what next the timeline?" opportunities of question source years? is, are "Will for within any

Gary Evans

you That's good a supply let [ ] answer Joe, question. I'll that. the on

Lloyd Bardswich

the speculate There's by optimistic. because number slapped trying that of we're of I the then get SEC I'm lots in a to And on come. hands of and bases. making on some to want that, but for my to restricted comments publish don't outside to don't I I'm areas the opportunities competition. we'll very operate increase want

Gary Evans

it's to I we give little something agree. I Once then you we'll information, don't more able be this into. get think able disclose we're detail. probably it's should to that's a to that talk move yet. plan can too on depend which obtain ability grants, is. at early our speed will to our federal Obviously, greatly what just about we and the But

Operator

is, enough question stock them, luck institutional buyers reverse up "Any getting yet price a the Next to avoid or getting split?" attract

Gary Evans

few I institutions with a mentioned, was as I today. Well,

individuals, We of have over some things are marketing to feel be done. announce -- plan have these next cap front not micro of family of needed because some wealth things I in institutions, get small any that then to do and we'll offices worth certain we couple to cap of get high plan we institutions net the able marketing months. our these companies. done deal in with and And a small that

Operator

"Any interest in Los Juarez?"

Gary Evans

keep We Juarez. have Los at decided to present

assets And something in of sold at exploring it's might be to do list not on still how So the Juarez. we're we Mexico. Los

realize that well that joint figure very we venture trying has property with significant that, some somebody. to value. be a But we out value, and to recognize are may how do still it So

Operator

is, XX And time? Corporation in months' Antimony States see you do the United next "Where question

Gary Evans

are the of think I'm to there light this And higher a very a ago, the quick We small about board more a perfect over usually tunnel, year a mean in was That a it down months. Larger, takes lot I hopefully years bullish did market ship. I light. revenues, more came example day. -- companies gets couple results on a I a X little profitable very and the turnaround. brighter quarter really of on turn it I and cap. to of a the first by X looked

proud have they've opportunities that antimony that in fortunate very what last I'm prices position. then and prime that fact done we're of we sitting So a done see. been the the and And month, we've in

to So be a of we're screens not we lot right to radar cause our now, ought job that to happen. on that is and on

Operator

And needs question, "What make the toward next can now?" antimony contribution volume-wise would you achieve aspire America's you what to versus

Gary Evans

the U.S.-derived I think Well, response question to main is that antimony.

activities on going got the be assuming government develop so could And significant, have the we required them. dollars to from very the we

Washington be why been been Washington and raising what that's likely haven't looking gone heard We that they're seasoned first did talking to a expert dollars round. wants, second on has will the trip for very And successful for. of using what to and So we out a we DC now yet other we've the companies. we in

the will think we I be and property. realize much the raise can of it in in And how the fast we so this deploy to proof found how antimony capital have opportunity particular can we

don't owed Remember, fact the the Mexican with And say Mexican can't us because won't we're in any And they excited money. won't be still we're $X.X they have Mexico. be the with the dealing all that they we million we we problems about dealing from have government. so government, that, pay

said, fighting worry redeploy about are democracy not high, let's all that's stop we've that mean kind a too to those kind is you're and too in the of and we those drain what I risk hey, life, elsewhere. the and the don't done. have great, about cash just of things things where the regime dealing worry and So not your you is cost losing to having And

Operator

you. Thank

call of We C. And have now I Evans closing will reached Gary session. the question-and-answer turn for over remarks. to the the end

Gary Evans

listening. Okay. where about think that doing. you what Well, we're very and prospects, thank we're we're going, turned, for We our all this has ship of excited

do a excited mentioned, team We're you working got we're management as As we Board Joe what very benefit trying Rick nights and see. days things will a well and and is all shareholder, you and that to that a spending together. about

think and time thank keep a our And I tuned so your today, just for and And enthralled have you you hopefully Bye-bye. activities. good stay we with will afternoon.

Operator

webcast, This disconnect concludes lines you your you and Thank at your for may participation. time. today's this

United States Antimony (UAMY) 15 May 242024 Q1 Earnings call transcript