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United States Antimony (UAMY) - 2024 Q4 - Annual Results
UAMYUnited States Antimony (UAMY)2025-03-21 23:38

Financial Performance - Revenues for fiscal year 2024 increased 72% year-over-year to 14.9million,upfrom14.9 million, up from 8.7 million in 2023[3] - Gross profit surged 204% year-over-year to 3.5million,comparedtoalossof3.5 million, compared to a loss of 3.3 million in 2023[3] - The company reported a net loss from operations of 1.7millionfor2024,animprovementof1.7 million for 2024, an improvement of 4.6 million from a loss of 6.3millionin2023[3]−NetlossfortheyearendedDecember31,2024,was6.3 million in 2023[3] - Net loss for the year ended December 31, 2024, was 1,730,404, a significant improvement from a net loss of 6,348,287in2023,representingareductionofapproximately736,348,287 in 2023, representing a reduction of approximately 73%[18] - Cash provided by operating activities was 2,220,303 in 2024, compared to cash used of 4,750,026in2023,indicatingaturnaroundinoperationalcashflow[18]CashandAssets−Cashandcashequivalentsattheendof2024stoodat4,750,026 in 2023, indicating a turnaround in operational cash flow[18] Cash and Assets - Cash and cash equivalents at the end of 2024 stood at 18.2 million, with only 328Kindebt[4]−Totalcashandcashequivalentsattheendoftheperiodincreasedto328K in debt[4] - Total cash and cash equivalents at the end of the period increased to 18,270,898 from 11,954,635inthepreviousyear,markingagrowthofapproximately5311,954,635 in the previous year, marking a growth of approximately 53%[18] - Total assets increased to 34.6 million in 2024, up from 28.1millionin2023[14]InvestmentsandFinancing−Proceedsfromtheissuanceofcommonstockin2024amountedto28.1 million in 2023[14] Investments and Financing - Proceeds from the issuance of common stock in 2024 amounted to 2,759,681, contributing positively to financing activities[18] - Cash used in investing activities was 42,073in2024,asignificantdecreasefrom42,073 in 2024, a significant decrease from 1,341,713 in 2023, indicating a more conservative investment approach[18] - Interest paid in cash for the year was 8,869,aslightdecreasefrom8,869, a slight decrease from 10,521 in 2023, suggesting improved cash management[18] - The company recognized non-cash financing activities including equipment purchased with a note payable valued at 402,722[19]ProductionandOperations−Thezeolitedivisionachieveda9402,722[19] Production and Operations - The zeolite division achieved a 9% increase in sales volume, with production capacity rising from four tons per hour to over twelve tons per hour[8] - The company plans to bring antimony ore from its mining claims in Alaska to Montana in Q3 2025, reducing dependence on foreign sourcing[11] - The Madero Smelter in Mexico is set to become a key contributor to financial results in the remaining three quarters of 2025[10] - The company acquired mining claims and leases in Alaska and Ontario, Canada, and leased a metals concentration facility in Montana in 2024, which could expand operations and product offerings[19] Market Conditions - Antimony prices increased nearly fivefold from 11.575 per metric ton at the end of 2023 to 55,650permetrictoncurrently[5]−Forward−lookingstatementsindicateexpectationsforincreasedproductionandpotentialfuturerevenues,thoughactualresultsmaydifferduetovariousuncertainties[20][21][22]GuidanceandEstimates−Thecompanyestimatesconsolidatedrevenuesfor2025,althoughspecificguidancehasnotbeenhistoricallyprovided[12]−Thecompanyreporteddepreciationandamortizationexpensesof55,650 per metric ton currently[5] - Forward-looking statements indicate expectations for increased production and potential future revenues, though actual results may differ due to various uncertainties[20][21][22] Guidance and Estimates - The company estimates consolidated revenues for 2025, although specific guidance has not been historically provided[12] - The company reported depreciation and amortization expenses of 1,085,747 in 2024, up from $959,445 in 2023, reflecting increased asset utilization[18]