United States Antimony (UAMY) - 2024 Q4 - Annual Results

Financial Performance - Revenues for fiscal year 2024 increased 72% year-over-year to $14.9 million, up from $8.7 million in 2023[3] - Gross profit surged 204% year-over-year to $3.5 million, compared to a loss of $3.3 million in 2023[3] - The company reported a net loss from operations of $1.7 million for 2024, an improvement of $4.6 million from a loss of $6.3 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 $6,348,287 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 $4,750,026 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 $328K in debt[4] - Total cash and cash equivalents at the end of the period increased to $18,270,898 from $11,954,635 in the previous year, marking a growth of approximately 53%[18] - Total assets increased to $34.6 million in 2024, up from $28.1 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 $42,073 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, 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] 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 $55,650 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]