United States Antimony (US:UAMY)2025-11-12 21:01Contract and Revenue - The Company secured a five-year contract with the U.S. Defense Logistics Agency valued at a maximum of $245 million for the supply of antimony metal ingots [115]. - The initial order under this contract is for 315,000 pounds of antimony metal ingots, valued at approximately $10 million [115]. - The Company has not yet recognized any revenue related to the DLA contract as of the end of September 2025 [115]. - Antimony revenue for the three months ended September 30, 2025, increased to $8,030,005, a 439% increase from $1,489,798 in 2024 [129]. - For the nine months ended September 30, 2025, antimony revenue reached $23,592,695, a 256% increase from $6,622,835 in 2024 [130]. - Zeolite revenue for the nine months ended September 30, 2025, increased to $2,654,923, a 16% rise from $2,280,338 in 2024 [135]. Production and Facilities - The antimony processing facility in Montana produces antimony oxide, antimony metal ingots, and antimony trisulfide, with the finished product purity reaching up to 99.65% [118]. - The zeolite segment includes a facility in Idaho that mines, processes, and sells zeolite, which is used in various applications including water filtration and environmental cleanup [122]. - The BRZ facility's lease for zeolite mining has been extended to December 31, 2034 [124]. - The Company has commenced limited surface mining in Alaska after obtaining government permits in September 2025 [111]. Financial Performance - Gross profit for antimony in the same period rose to $2,189,229, reflecting a 679% increase from $281,207 in 2024 [129]. - Average sales price per pound of antimony surged to $28.72, a 382% increase from $5.96 in 2024 [129]. - The company reported a net loss of $4,780,700 for the three months ended September 30, 2025, compared to a net loss of $727,509 in 2024 [137]. - Net cash used in operating activities was $6,220,686 for the nine months ended September 30, 2025, compared to net cash provided of $1,042,162 in 2024 [138]. - The Company incurred a net loss of $4.1 million for the nine months ended September 30, 2025, including $5.2 million of non-cash expenses [143]. Capital Expenditures and Financing - Significant capital expenditures of $16,069,244 were made in the first nine months of 2025, including $5,025,120 for the purchase of mining properties [140]. - Net cash provided by financing activities was $42,415,350 for the nine months ended September 30, 2025, compared to a net cash outflow of $71,139 in 2024 [141]. - The Company secured a $10 million line of credit (LOC) facility in September 2025, with no outstanding borrowings at that time [146]. - The LOC facility bears interest at one percent above the base commercial rate, providing potential working capital [146]. - The Company received approximately $66 million in additional net proceeds from "at the market offerings" and direct offerings to institutional investors in October 2025 [142]. Strategic Initiatives - The Company formed new entities related to mining claims in Alaska and Ontario to reduce costs of third-party antimony ore purchases [108]. - The Company has retained a third-party expert to prepare a technical reserve report for the Fostung Properties in Ontario, Canada [113]. - The Company has entered into a Letter of Intent to acquire a custom precious metals mill and flotation facility to enhance processing capabilities [144]. - The Company is reviewing operational and financial results for opportunities to improve cash flow across each segment [147]. - The Company aims to grow profitably through strategic acquisitions and partnerships to increase shareholder value [145]. - The Company intends to fund cash requirements through cash equivalents, operational cash flow, and capital raised from various investment vehicles [148]. - The Company may pursue future funding from the U.S. Government for facility expansion and mining exploration initiatives, though access is not assured [147].