Group 1: Market Performance - U.S. rare earth stocks saw significant activity, with United States Antimony (UAMY.US) rising over 20%, USA Rare Earth (USAR.US) and NioCorp Developments (NB.US) increasing over 5%, TMC the metals (TMC.US) up over 3%, and MP Materials (MP.US) gaining nearly 2% [1] Group 2: Company Contracts and Revenue - UAMY announced a contract with the U.S. Defense Logistics Agency for a value of up to $245 million for the purchase of antimony ingots, which is approximately 16 times its projected 2024 revenue of $14.9 million [1] - The company operates one of the only two antimony smelters in North America and is prepared to fulfill the first order immediately [1] Group 3: Antimony Market Insights - Antimony is a strategic minor metal with strong resource scarcity, and domestic restrictions on antimony mining are increasing, while overseas mines face resource depletion [2] - The main future global antimony supply increases are expected from Huayu Mining's Takin project and Russia's Solonechenskoye antimony mine [2] - Traditional demand for antimony in flame retardants, lead-acid batteries, and polyester catalysts is stable, with photovoltaic glass expected to become the second-largest demand sector due to rising installation rates [2] Group 4: Production Forecasts - Polar Gold is a major overseas source of antimony, with a production of 27,100 tons in 2023, accounting for 26% of global output, but expected to drop to 12,700 tons in 2024, reducing its global share to 13% [2] - The production forecast for Polar Gold in 2024 is 8,616 tons in the first half and 4,056 tons in the second half, with annualized production shares of 17% and 8% respectively [2] Group 5: Price Outlook - Antimony prices are expected to rise in the medium to long term due to limited supply increases domestically and abroad, alongside the recovery of compliant antimony exports from China [3] - The cash costs for Polar Gold are projected to increase in 2025, primarily due to a significant decline in antimony production [3]

Group 1: Market Performance - Rare earth concept stocks in the US saw significant activity, with United States Antimony (UAMY.US) rising over 20%, USA Rare Earth (USAR.US) and NioCorp Developments (NB.US) increasing over 5%, TMC the metals (TMC.US) up over 3%, and MP Materials (MP.US) gaining nearly 2% [1] - UAMY announced a contract worth up to $245 million from the US Defense Logistics Agency for the purchase of antimony ingots, which is approximately 16 times its projected revenue for 2024 of $14.9 million [1] Group 2: Supply and Demand Dynamics - Antimony is a strategic minor metal with strong resource scarcity, and domestic restrictions on antimony mining are increasing, while overseas mines face resource depletion [2] - The main future global antimony supply increases are expected from Huayu Mining's Tajin project and Russia's Solonechenskoye antimony mine [2] - Traditional demand for antimony in flame retardants, lead-acid batteries, and polyester catalysts is stable, with photovoltaic glass expected to become the second-largest demand sector due to rising installation rates [2] - Polar Gold is a major overseas source of antimony, with production in 2023 at 27,100 tons, accounting for 26% of global output, but expected to drop to 12,700 tons in 2024, reducing its global share to 13% [2] Group 3: Price Trends and Future Outlook - Antimony prices are expected to rise in the medium to long term due to tightening supply and recovering exports, with domestic prices likely to increase as compliance with export regulations improves [3] - The cash costs for Polar Gold are projected to rise in 2025, primarily due to a significant drop in antimony production, which is expected to remain low [3] - The overall outlook for antimony prices is positive, with limited supply increases domestically and abroad, supporting a potential upward shift in price levels [3] Group 4: Company Involvement - China Minmetals' subsidiary, Hunan Xikang Mining, controls over 300,000 tons of antimony resources [4] - Jiangxi Copper's product line includes crude antimony and sodium antimonate compounds [5]

Core Viewpoint - United States Antimony Corporation has secured a significant five-year contract worth up to $245 million from the US Defense Logistics Agency to supply antimony metal ingots, highlighting the company's unique position in the market and the importance of domestic supply for national defense [1][6]. Group 1: Contract and Market Impact - The contract is a sole-source agreement, emphasizing the company's exclusive capability to meet military specifications for antimony ingots [1][3]. - Following the announcement, US Antimony's shares increased by 17.8%, raising the company's market capitalization to approximately $975 million [1]. Group 2: Importance of Antimony - Antimony is classified as a critical metal for national and economic security, utilized in defense and high-tech applications such as flame-retardant materials, semiconductors, ammunition primers, and superhard alloys [2]. - The US has not produced antimony commercially since 2016, making the establishment of a domestic supply chain a priority [2]. Group 3: Production Capabilities - United States Antimony operates the only two smelters in North America capable of processing antimony, with both facilities already meeting military specifications for ingot production [3]. - The company is expanding its feedstock base by sourcing ore globally and advancing domestic mining projects, including high-grade deposits in Alaska and acreage in Montana [4]. Group 4: Competitive Landscape - Competing sources of antimony, whether domestic or international, are projected to be at least three years away from commercial-scale production and may not meet defense standards [5]. - The contract represents a significant milestone for the company, with the CEO noting its value is nearly 17 times the company's projected 2024 revenue of $14.9 million [6]. Group 5: Company Overview - Founded decades ago, United States Antimony Corporation produces and markets antimony, zeolite, and precious metals across the US and Canada, with operations in Montana and Idaho [7].

Core Viewpoint - The US rare earth stocks experienced significant activity, particularly United States Antimony (UAMY), which surged over 20% following the announcement of a substantial contract with the US Department of Defense [1] Group 1: Company Performance - United States Antimony (UAMY) saw a price increase of over 20% after announcing a contract worth up to $245 million for the purchase of antimony ingots [1] - Other companies in the rare earth sector also experienced gains, with USA Rare Earth (USAR) and NioCorp Developments (NB) rising over 5%, TMC the metals (TMC) increasing over 3%, and MP Materials (MP) climbing nearly 2% [1] Group 2: Contract Details - The contract awarded to UAMY is an indefinite delivery, indefinite quantity single-source contract aimed at supplementing the US national strategic material reserve [1] - UAMY operates one of only two antimony smelters in North America, and the contract value is approximately 16 times its projected revenue of $14.9 million for 2024 [1] - UAMY is prepared to fulfill the first order of the contract immediately [1]

Summary of United States Antimony Corporation Conference Call Company Overview - **Company**: United States Antimony Corporation (NYSEAM:UAMY) - **Founded**: Around 1968, originally by a miner - **Current Leadership**: CEO Gary C. Evans, who joined two years ago after a management overhaul due to shareholder dissatisfaction [1][2] Industry Context - **Industry**: Antimony production, critical minerals for defense and industrial applications - **Market Dynamics**: China has historically dominated the antimony market but has recently cut off supply, creating a significant opportunity for U.S. producers [6][10] Key Points Antimony Applications - Antimony is used in various applications, primarily in defense (32% usage) and industrial sectors [3][4] - Key uses include ammunition, batteries, solar panels, semiconductors, and flame retardants [4][5] Supply Chain and Production - United States Antimony operates the only two permitted antimony smelters in North America [5][6] - The company is vertically integrated, with operations in Montana and Alaska, and is expanding its smelting capacity [7][9] - Recent executive orders mandate that critical minerals for government use must be sourced domestically by 2027 [10] Financial Performance - Revenue increased by 160% year-over-year, with net income up 707% [27] - Guidance for 2023 is $40 million to $50 million, with expectations to exceed this due to increased production capacity [28] Strategic Initiatives - The company is diversifying into other critical minerals such as cobalt and tungsten, aligning with Department of Defense priorities [17][18] - Recent contracts include a $245 million order from the Defense Logistics Agency for antimony ingots [30] Market Position and Future Outlook - The company is positioned to capitalize on the global supply constraints, with antimony prices having increased over 500% in the past year [12][13] - The company is exploring additional international contracts and domestic partnerships to enhance its supply chain [32] Operational Efficiency - The efficiency of operations has improved from 68% to 98.4% under new management [25] - The company is focused on building inventory and processing material from Alaska, which is expected to significantly enhance margins [33] Environmental and Strategic Importance - The company is involved in discussions regarding the use of zeolite for various applications, including nuclear remediation and agriculture [20][24] - Emphasis on the importance of domestic supply chains for national security and environmental remediation efforts [25][36] Additional Insights - The company has received significant media attention and institutional interest, indicating a growing recognition of its market potential [35] - Future announcements regarding government contracts and funding are anticipated, which could further bolster the company's position [36] This summary encapsulates the critical aspects of the United States Antimony Corporation's recent conference call, highlighting its strategic initiatives, market dynamics, and financial performance.

Core Insights - United States Antimony Corporation (UAMY) is recognized as one of the best mining stocks to buy according to hedge funds, indicating strong institutional interest [1] - The company has entered into a securities purchase agreement that will generate $18 million in proceeds, which will be allocated for working capital, antimony inventory acquisition, and expansion of its mineral position in Alaska [1][2] - UAMY's revenues for the first half of 2025 reached $17.53 million, marking a significant 160% increase compared to the same period in 2024 [2] Financial Developments - The $18 million proceeds from the securities purchase agreement will also be used for potential acquisitions of critical mineral companies and for expanding the Madero Smelter in Mexico beyond its current capacity of 200 tons per month [2] - The substantial revenue growth of 160% from $10.79 million in the first half of 2024 to $17.53 million in the first half of 2025 highlights the company's strong performance [2] Business Operations - United States Antimony Corporation is involved in the production and sale of antimony, zeolite, and precious metals, indicating a diversified portfolio within the mining sector [3]

Core Viewpoint - U.S. Antimony Corporation is advancing its critical mineral operations in Alaska and hosting a VIP site visit to showcase its efforts [1] Company Summary - U.S. Antimony Corporation operates the only two antimony smelters in North America [1] - The company is focused on responsibly advancing critical mineral operations in the Fairbanks area [1] Event Summary - A VIP site visit is scheduled at the Mohawk Antimony Property near Ester, Alaska on September 8, 2025 [1] - The event will include participation from Alaska state and federal leaders, municipal officials, and industry representatives [1]

Executive Summary & Highlights [Financial Performance Overview](index=1&type=section&id=Financial%20Performance%20Overview) USAC achieved significant financial growth in Q2 and H1 2025, with revenue, gross profit, and net income substantially increasing, primarily driven by strong antimony sales H1 2025 Key Financial Metrics (vs. H1 2024) | Metric | H1 2025 ($) | H1 2024 ($) | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | $17.53 million | $6.74 million | +$10.79 million | +160% | | Cost of Revenues | $12.32 million | $4.90 million | +$7.42 million | +152% | | Gross Profit | $5.21 million | $1.84 million | +$3.37 million | +183% | | Gross Margin | 30% | 27% | +3% | - | | Operating Expenses | $4.83 million | $2.25 million | +$2.58 million | +114% | | Net Income (Loss) | $728.1 thousand | ($120.0 thousand) | +$848.1 thousand | +707% | H1 2025 Product Sales (vs. H1 2024) | Product | H1 2025 ($) | H1 2024 ($) | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Antimony Sales | $15.56 million | $5.13 million | +$10.43 million | +203% | | Zeolite Sales | $1.98 million | $1.59 million | +$386 thousand | +24% | [Operational & Strategic Highlights](index=1&type=section&id=Operational%20%26%20Strategic%20Highlights) Strategic tungsten mine acquisition, record antimony inventory, and furnace renovations boosted production, highlighting antimony's critical mineral status - As of June 30, 2025, the company's cash and investment securities totaled **$15.8 million**, compared to **$18.2 million** in cash at the end of 2024[5](index=5&type=chunk) - The company spent **$5 million** in Q2 to complete the acquisition of a tungsten mine located in Canada[5](index=5&type=chunk) - As of June 30, 2025, antimony inventory reached a record **201 tons**, valued at approximately **$10.4 million**, significantly higher than **$4 million** at the end of 2024[6](index=6&type=chunk) - The company completed the renovation of four furnaces at Thompson Falls, Montana, and hired five new operators, aiming to significantly reduce inventory and increase sales for the remainder of the year[6](index=6&type=chunk)[9](index=9&type=chunk) - USGS data indicates that the U.S. National Strategic Stockpile of antimony accounts for only about **5%** of annual consumption and, as of April 2025, can meet critical defense needs for approximately **42 days**, underscoring its strategic importance[7](index=7&type=chunk) - Antimony's value is likened to "new gold," with 6.5% antimony-bearing rock approximately equaling the value of one ounce of gold per ton at 2025 metal prices[10](index=10&type=chunk) Company Information [About United States Antimony Corporation (USAC)](index=2&type=section&id=About%20United%20States%20Antimony%20Corporation%20%28USAC%29) USAC sells antimony, zeolite, and precious metals in North America, processing ore and mining zeolite, and is expanding operations through acquisitions and leases - USAC primarily sells antimony, zeolite, and precious metals, with key markets in the United States and Canada[12](index=12&type=chunk) - The company's facilities in Montana and Mexico process third-party ore into antimony oxides, antimony metal, antimony trisulfide, and precious metals (primarily gold and silver)[12](index=12&type=chunk) - Antimony oxides are used in flame retardant systems, paint fixatives, and fluorescent lamp phosphors; antimony metal is used in bearings, storage batteries, and ordnance; and antimony trisulfide is used as a primer in ammunition[12](index=12&type=chunk) - The company mines and processes zeolite at its Bear River Zeolite (BRZ) facility in Idaho for applications such as water filtration, wastewater treatment, nuclear waste remediation, odor control, gas separation, animal nutrition, soil amendment, and fertilizers[12](index=12&type=chunk) - In 2024 and 2025, the company leased metal refining facilities in Montana and began acquiring mining claims and leases in Montana, Alaska, and Ontario, Canada, to expand its operations and product offerings[12](index=12&type=chunk) Condensed Consolidated Financial Statements [Statements of Operations](index=3&type=section&id=Statements%20of%20Operations) This section presents the unaudited condensed consolidated statements of operations for Q2 and H1 2025, detailing key financial data UNITED STATES ANTIMONY CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | | Three months ended June 30, | | | | Six months ended June 30, | | :--- | :--- | :--- | :--- | :--- | :--- | | | **2025** | **2024** | **2025** | **2024** | | Revenues | $10,525,123 | $3,662,977 | $17,525,128 | $6,735,044 | | Cost of revenues | 7,687,578 | 2,412,754 | 12,315,853 | 4,895,336 | | Gross profit | 2,837,545 | 1,250,223 | 5,209,275 | 1,839,708 | | Operating expenses: | | | | | | General and administrative | 842,951 | 502,874 | 1,393,546 | 1,003,160 | | Salaries and benefits | 1,364,506 | 285,359 | 2,365,061 | 526,964 | | Professional fees | 536,869 | 240,708 | 918,905 | 453,016 | | (Gain) loss on sale or disposal of property, plant and equipment, net | - | - | (500) | 17,494 | | Other operating expenses | 73,212 | 165,274 | 154,264 | 253,520 | | Total operating expenses | 2,817,538 | 1,194,215 | 4,831,276 | 2,254,154 | | Income (loss) from operations | 20,007 | 56,008 | 377,999 | (414,446) | | Other income (expense), net: | | | | | | Interest and investment income | 154,770 | 151,921 | 322,156 | 302,772 | | Trademark and licensing income | 6,627 | 8,360 | 17,470 | 14,728 | | Other miscellaneous income (expense) | 151 | (13,497) | 10,454 | (23,030) | | Total other income, net | 161,548 | 146,784 | 350,080 | 294,470 | | Income (loss) before income taxes | 181,555 | 202,792 | 728,079 | (119,976) | | Income tax expense | - | - | - | - | | Net income (loss) | 181,555 | 202,792 | 728,079 | (119,976) | | Preferred dividends | (1,875) | (1,875) | (3,750) | (3,750) | | Net income (loss) available to common shareholders | $179,680 | $200,917 | $724,329 | ($123,726) | | Net income (loss) per share: | | | | | | Basic | $nil | $nil | $0.01 | $nil | | Diluted | $nil | $nil | $0.01 | $nil | | Weighted average shares outstanding: | | | | | | Basic | 118,261,366 | 108,438,984 | 115,994,982 | 108,173,645 | | Diluted | 127,223,435 | 108,943,126 | 124,343,635 | 108,173,645 | [Balance Sheets](index=4&type=section&id=Balance%20Sheets) This section provides the unaudited condensed consolidated balance sheets as of June 30, 2025, and December 31, 2024, detailing the company's financial position UNITED STATES ANTIMONY CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) | | | June 30, | December | | :--- | :--- | :--- | :--- | | | | **2025** | **31, 2024** | | **ASSETS** | | | | | CURRENT ASSETS | | | | | Cash and cash equivalents | $ | 5,708,660 | $18,172,120 | | Investment securities held to maturity | | 1,258,665 | - | | Accounts receivable, net | | 2,543,413 | 1,156,564 | | Inventories | | 6,812,527 | 1,245,724 | | Prepaid expenses and other current assets | | 1,353,208 | 104,161 | | Total current assets | | 17,676,473 | 20,678,569 | | Property, plant and equipment, net | | 19,725,995 | 12,891,447 | | Operating lease right-of-use assets | | 275,627 | 565,289 | | Investment securities held to maturity - noncurrent | | 8,828,584 | - | | Restricted cash for reclamation bonds | | 99,764 | 98,778 | | IVA receivable and other assets, net | | 891,879 | 408,519 | | **Total assets** | | **$47,498,322** | **$34,642,602** | | **LIABILITIES AND STOCKHOLDERS' EQUITY** | | | | | CURRENT LIABILITIES | | | | | Accounts payable | $ | 5,746,709 | $1,545,708 | | Accrued liabilities | | 1,251,778 | 1,427,146 | | Accrued liabilities - directors | | 88,750 | 141,287 | | Royalties payable | | 182,523 | 133,434 | | Current portion of operating lease liabilities | | 592,695 | 626,562 | | Current portion of long-term debt | | 134,577 | 132,252 | | Total current liabilities | | 7,997,032 | 4,006,389 | | Operating lease liabilities, net of current portion | | 117,722 | 129,007 | | Long-term debt, net of current portion | | 127,550 | 195,425 | | Asset retirement obligations | | 1,750,075 | 1,711,108 | | **Total liabilities** | | **9,992,379** | **6,041,929** | | COMMITMENTS AND CONTINGENCIES (Note 12) | | | | | **STOCKHOLDERS' EQUITY** | | | | | Preferred stock $0.01 par value, 10,000,000 shares authorized: | | | | | Series A - no shares issued and outstanding | | - | - | | Series B - 750,000 shares issued and outstanding (liquidation preference $978,750 and $975,000, respectively) | | 7,500 | 7,500 | | Series C - 177,904 shares issued and outstanding (liquidation preference $97,847 both periods) | | 1,779 | 1,779 | | Series D - no shares issued and outstanding | | - | - | | Common stock, $0.01 par value, 250,000,000 shares authorized; 119,200,980 and 112,951,317 shares issued and outstanding, respectively | | 1,192,010 | 1,129,512 | | Additional paid-in capital | | 76,725,598 | 68,610,905 | | Accumulated deficit | | (40,420,944) | (41,149,023) | | **Total stockholders' equity** | | **37,505,943** | **28,600,673** | | **Total liabilities and stockholders' equity** | | **$47,498,322** | **$34,642,602** | [Statements of Cash Flows](index=5&type=section&id=Statements%20of%20Cash%20Flows) This section presents the unaudited condensed consolidated statements of cash flows for H1 2025 and 2024, detailing cash flows from operating, investing, and financing activities UNITED STATES ANTIMONY CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) | | June 30, | | | :--- | :--- | :--- | | | **2025** | **2024** | | **CASH FLOWS FROM OPERATING ACTIVITIES:** | | | | Net income (loss) | $728,079 | ($119,976) | | Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | | | | Depreciation and amortization | 559,525 | 220,633 | | Accretion of asset retirement obligation | 38,967 | 36,541 | | Noncash operating lease expense | 244,510 | - | | Share-based compensation | 832,297 | 300,847 | | (Gain) loss on sale or disposal of property, plant and equipment, net | (500) | 17,494 | | Accretion of income from investment securities held to maturity | (95,990) | - | | Write-down of inventory to net realizable value | - | 10,501 | | Change in allowance for credit losses | 884 | (14,258) | | Other noncash items | - | (16,106) | | Changes in operating assets and liabilities: | | | | Accounts receivable | (1,387,733) | (800,182) | | Inventories | (5,566,803) | 913,254 | | Prepaid expenses and other current assets | (1,249,047) | (203,722) | | IVA receivable and other assets, net | (483,360) | 32,758 | | Accounts payable | 4,201,001 | 217,972 | | Accrued liabilities | (175,368) | 38,283 | | Accrued liabilities – directors | (52,537) | 36,439 | | Royalties payable | 49,089 | (39,512) | | **Net cash (used in) provided by operating activities** | **(2,356,986)** | **630,966** | | **CASH FLOWS FROM INVESTING ACTIVITIES:** | | | | Proceeds from redemption of certificates of deposit | - | 50,682 | | Purchases of investment securities held to maturity | (9,991,259) | - | | Proceeds from sales of property, plant and equipment | 500 | - | | Purchases of property, plant and equipment | (7,394,073) | (150,721) | | **Net cash used in investing activities** | **(17,384,832)** | **(100,039)** | | **CASH FLOWS FROM FINANCING ACTIVITIES:** | | | | Principal payments on long-term debt | (65,550) | (39,071) | | Proceeds from exercises of stock options | 55,000 | - | | Proceeds from issuance of common stock, net of issuance costs | 5,064,483 | - | | Proceeds from exercise of warrants | 2,225,411 | - | | **Net cash provided by (used in) financing activities** | **7,279,344** | **(39,071)** | | **NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH** | **(12,462,474)** | **491,856** | | **CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD** | **18,270,898** | **11,954,635** | | **CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD** | **$5,808,424** | **$12,446,491** | | **SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:** | | | | Interest paid in cash | $5,243 | $2,092 | | **NON-CASH FINANCING AND INVESTING ACTIVITIES:** | | | | Recognition of operating lease liability and right-of-use asset | $63,416 | - | | Equipment purchased with note payable | - | $402,722 | Management Discussion & Outlook [CEO's Commentary](index=2&type=section&id=CEO%27s%20Commentary) CEO Gary C. Evans reported record financial performance despite Q2 challenges from ore quality, embargoes, and staffing, now resolved, with further H2 improvements expected - CEO Gary C. Evans noted that despite record financial performance, Q2 faced challenges including suboptimal antimony ore from an Australian supplier, a Chinese embargo on Madero antimony smelter products, and insufficient operators at the Thompson Falls antimony smelter[9](index=9&type=chunk) - The CEO stated that these issues have been resolved, with overall operational and financial performance expected to further improve in the second half of the year[9](index=9&type=chunk) [Operational Initiatives & Future Plans](index=1&type=section&id=Operational%20Initiatives%20%26%20Future%20Plans) Management focuses on reducing record antimony inventory, doubling production, completing expansion, securing foreign supplies, and obtaining mining permits for improved control and margins - Management's top priority is to significantly reduce the current record international antimony inventory to generate additional sales[6](index=6&type=chunk) - The company successfully renovated four existing furnaces at Thompson Falls and staffed them with necessary personnel, which will double antimony product output[9](index=9&type=chunk) - The Thompson Falls expansion project is on track for completion by year-end[9](index=9&type=chunk) - The company continues efforts to procure additional antimony supplies from foreign sources, with these new supplies destined for smelters in the United States and Mexico[9](index=9&type=chunk) - Once final mining permits for the Alaska and Montana proprietary mining projects are approved, the company's control over future antimony supply will significantly improve, along with enhanced gross margins[9](index=9&type=chunk) [Revenue Guidance](index=1&type=section&id=Revenue%20Guidance) The company maintains its FY2025 revenue guidance, projecting revenues between $40 million and $50 million - Management maintains its FY2025 revenue guidance of **$40 million to $50 million**[6](index=6&type=chunk) Other Information [Conference Call Details](index=2&type=section&id=Conference%20Call%20Details) US Antimony management will host a conference call on August 12, 2025, at 4:15 PM ET, to discuss Q2 and H1 2025 financial results and a Q&A - Conference Call Date: Tuesday, August 12, 2025[11](index=11&type=chunk) - Time: 4:15 PM ET[11](index=11&type=chunk) - Toll-Free Dial-In: 888-506-0062; International Dial-In: 973-528-0011; Participant Access Code: 429367[11](index=11&type=chunk) - Webcast URL: https://www.webcaster4.com/Webcast/Page/2604/52829[11](index=11&type=chunk) [Forward-Looking Statements & Risk Factors](index=2&type=section&id=Forward-Looking%20Statements%20%26%20Risk%20Factors) This press release contains forward-looking statements about future operations and financial performance, subject to various risks and uncertainties, with no obligation to update - Forward-looking statements cover the company's future operations, production levels, financial performance, business strategies, market conditions, demand for antimony, zeolite, and other critical minerals and precious metals, and anticipated costs[13](index=13&type=chunk) - Forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those stated[15](index=15&type=chunk) - Key risks include fluctuations in market prices and demand for antimony and zeolite; changes in domestic and international economic conditions; operational risks inherent in mining and mineral processing; geological or metallurgical conditions; supply and cost of energy, equipment, transportation, and labor; the company's ability to maintain or obtain permits, licenses, and regulatory approvals; changes in environmental and mining laws and regulations; competitive factors; the impact of geopolitical developments; and the effects of weather, natural disasters, or health epidemics on operations and supply chains[15](index=15&type=chunk) - The company undertakes no obligation to publicly update or revise any forward-looking statements, and readers should exercise caution with these statements[16](index=16&type=chunk) [Contact Information](index=3&type=section&id=Contact%20Information) This section provides contact information for United States Antimony Corporation, including the company address and investor relations details - Company Address: 4438 W. Lovers Lane, Unit 100, Dallas, TX 75209[17](index=17&type=chunk) - Vice President of Investor Relations: Jonathan Miller, Email: Jmiller@usantimony.com, Phone: 406-606-4117[17](index=17&type=chunk)

Financial Data and Key Metrics Changes - Revenues for the first six months of 2025 increased by 160% year over year, reaching $17.5 million, which is $3 million more than the entire 2024 fiscal year [3][5] - Gross profit rose by 183% year over year to $5.2 million, driven by higher average sales prices in both antimony and zeolite businesses [4][6] - Net income for the first half of 2025 was $728,000, up 707% year over year from a loss of $120,000 in the same period last year [4][13] Business Line Data and Key Metrics Changes - Antimony business revenues increased by 203% year over year, contributing $10.4 million to the overall revenue growth, with average sales price rising from about $6 per pound to approximately $22 per pound [5][6] - Zeolite business revenues grew by 24% year over year, with 60% of the increase attributed to higher volume and 40% to higher prices [5] Market Data and Key Metrics Changes - The company reported a significant increase in antimony ore supply, with the supplier delivering twice as much ore compared to the previous year, particularly in the second quarter [10][12] - Inventory levels increased by $5.6 million due to the rise in antimony inventory, indicating strong demand and supply chain adjustments [9][12] Company Strategy and Development Direction - The company is focused on expanding its antimony processing capacity and has increased its staff and supplier relationships to support this growth [12][13] - Strategic acquisitions of mining claims and properties in Alaska, Montana, and Canada are aimed at positioning the company for future growth opportunities [12][13] - The company is actively engaging with the Department of Defense for potential collaborations related to antimony and tungsten, emphasizing its unique position as the only domestic processor of these critical minerals [33][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the anticipated increase in antimony supply and the ongoing expansion of processing facilities [32][94] - The company is addressing regulatory challenges in Alaska, with expectations of overcoming permitting delays to begin operations [27][68] - Management noted the importance of educating local communities about the benefits of mining operations to gain public support [70] Other Important Information - The company has dual-listed on the NYSE Texas Stock Exchange, enhancing its visibility and engagement with institutional investors [44] - A new marketing initiative is set to launch, aimed at increasing public awareness of the company's role in the critical minerals supply chain [45] Q&A Session Summary Question: Do you anticipate any domestic or supply deals in the near future? - The company indicated that there are no other domestic antimony supplies expected in the short term, aside from its own operations in Montana and Alaska [59] Question: Has the leasehold acreage in Alaska increased? - The company confirmed that the acreage has increased to approximately 30,000 acres due to recent acquisitions [60] Question: Can you provide an update on the $240 million contract from the Defense Logistics Agency? - The company acknowledged the contract and expressed hope for positive outcomes following the solicitation's conclusion [64] Question: What is the status of government funding and potential offtake? - The company remains optimistic about securing government funding and is actively negotiating to ensure shareholder protection [65][66] Question: How receptive has the current administration been in expediting permitting processes? - The company noted that while the federal administration is supportive of critical minerals, the permitting delays are primarily due to state-level processes [68] Question: What are the next steps for tungsten-bearing properties? - The company plans to conduct gravity separation tests and is in the permitting process for bulk sampling [80][84] Question: Why is the North American antimony feedstock supplier shipping more recently? - The increase is attributed to a renegotiated contract and the supplier's need to offload material rather than sending it to waste [88]

☒ Quarterly Report Pursuant to Section 13 Or 15(d) Of The Securities Exchange Act of 1934 (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (State or other jurisdiction of incorporation or organization) Montana 81-0305822 (IRS Employer Identification No.) 4438 W. Lovers Lane, Unit 100, Dallas, TX 75209 For the quarterly period ended June 30, 2025 ☐ Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act of 1934 For the transition period ________ ...