United States Antimony (UAMY) - 2024 Q4 - Earnings Call Transcript

Financial Data and Key Metrics Changes - The company reported record revenues of $14.9 million for fiscal year 2024, representing a 72% increase year-over-year [6][9] - Cost of sales decreased by 5% year-over-year, while gross profit increased to $3.5 million from a loss of $3.3 million in 2023, marking a turnaround of 204% [10][16] - Cash flow improved significantly, moving from a decrease of $7.2 million in 2023 to an increase of $6.3 million in 2024 [16] Business Line Data and Key Metrics Changes - Antimony sales reached $11.1 million in 2024, an increase of 88% compared to 2023, driven by a 60% rise in average prices and a 40% increase in sales volume [11] - Zeolite sales were $2.9 million, up 19% year-over-year, with half of the increase attributed to volume and half to price [14] Market Data and Key Metrics Changes - The reopening of Mexico operations in Q4 2024 was due to increased market prices and demand for antimony, which allowed the company to present these results in continuing operations [8] - The company is now the only US domestic producer of antimony products, having expanded its supplier base from one to three [17] Company Strategy and Development Direction - The company aims to increase antimony intake volumes at both the Thompson Falls and Madero smelters and expand capacity as volumes dictate [53] - Plans include initiating mining activities in Alaska and diversifying into other critical minerals in the US and Canada [56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning within the critical minerals market, particularly regarding antimony's strategic importance [42] - The company is optimistic about achieving profitability and aims to become a $1 billion company, leveraging its management team's experience [120] Other Important Information - The company has submitted paperwork for federal grants and is in a quiet period regarding updates on this front [49] - Concerns regarding tariffs have been communicated to government officials, but the business has not yet been affected [51] Q&A Session Summary Question: How long to create or build a double capacity system at Thompson Falls? - The company is limited by its footprint but has added another furnace and plans to increase capacity as more material becomes available [58][59] Question: Plans to be involved in the Stibnite antimony project in Idaho? - The company is interested in metallurgically handling their concentrate but is cautious about the timeline for their operations [63][64] Question: Expectations for metals in Canadian leases? - The company believes high-grade cobalt does not exist in isolation and is focused on discovering the extent of mineralization [70][72] Question: Plans to source antimony ore internally? - The company is preparing permit applications for state land in Alaska and intends to start digging in May [76] Question: CapEx involved in Alaska Mining and timeline to become a $1 billion company? - The company is not providing specific estimates on profitability for Q1 but is encouraged by current numbers and maintains a strong cash balance [91][92]