Thompson Falls, Montana. United States Antimony Corporation (“USAC”, NYSE American “UAMY”) reported a sustained higher level of production of antimony from the Wadley and Guadalupe Mines in Mexico. USAC has resumed the production of high purity antimony metal at its Madero smelter and is expediting the installation of two more large rotary furnaces (LRFs) from Reynosa. Each furnace will be capable of roasting 4 to 5 metric tons of Wadley ore per day or 5 to 7 metric tons per day of concentrate from Guadalupe or Los Juarez. USAMSA (a wholly owned subsidiary of USAC) has three more LRFs in inventory.
Progress on the construction of the cyanide leach plant at the Puerto Blanco mill for the Los Juarez gold, silver, and antimony mine has included wiring, plumbing, fresh water supply, tailings lines, and the installation of screens, pumps, compressors, transformers, and roofing. A culvert is being installed in the floor of the tailings pond to discharge storm water from above the pond to below the pond. This will be followed by the installation of the 1 mm thick HDPE pond liner that will cover approximately 5 acres. Testing and startup of the plant is anticipated during Q2 2019.
Bear River Zeolite sales continue to be strong for the rest of the year. Currently off shore interest is increasing for a variety of applications. We now have a Korean Company that will be selling a variety of BRZ products in Korea. The operation continues to be a source of expansion funds for USAC.
Estimated production for February and March 2019 is as follows:
|Antimony pounds||156,741||188,097||+ 20|
Inventories of unprocessed antimony continue to grow even with the increase in monthly production The average Rotterdam price for antimony metal during March 2019 was $7,636.19 per metric ton or $3.464 per pound.
CEO John Lawrence said “The installation of the LRF furnaces coincides with the large increase in Mexican mine production. Coupled with the cash flow from strong zeolite production, the Company is positioned to complete the construction of the Los Juarez cyanide leach circuit at Puerto Blanco and begin testing and shakedown. Gold and silver production is imminent.”