United States Antimony (UAMY) - 2025 Q2 - Earnings Call Transcript

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]