US Antimony Halts Mexico Operations; Piedmont Lithium New Discoveries; Ferroglobe Sees Positive Net Cash And More: Wednesday's Top Mining Stories
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2024
0mins
Should l Buy UAMY?
Source: Benzinga
U.S. Antimony Q1 Results:
- Revenues increased by 28% to $2.83 million, with a 108% rise in gross profit due to lower sales costs.
- Operating expenses surged by 183%, leading to a net income of $86k for the quarter.
- The company ceased Mexico operations, reduced overhead, and shifted to a "Discontinued Operation" status.
- Cash position improved to $11.94 million, marking a turning point according to the chairman.
Piedmont Lithium's NAL Update:
- New high-grade lithium zones discovered at North American Lithium (NAL) in Quebec.
- Potential mineral resource upgrade and mine life extension indicated by the 2023 drill program.
- NAL restarted production in March 2023, consistently achieving record production volumes.
- CEO highlighted strategic importance and exciting possibilities for extended mine life and increased production.
Ferroglobe Q1 Financials:
- Reported an adjusted EBITDA of $25.8 million with a positive net cash position for the first time.
- Gross debt hit an all-time low of $81 million.
- Initiated quarterly cash dividends and approved a $200 million stock buyback program.
- French operations fully restarted, with plans to expand U.S. silicon metal production.
Solitario Resources' Gold Discoveries:
- Discovered three new high-grade gold zones at the Golden Crest project.
- Reconnaissance sampling showed gold values up to 57.9 grams per ton.
- Zones cover a four-square-kilometer area, with significant samples exceeding one gpt gold.
- CEO anticipates upcoming drilling program starting in June.
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Analyst Views on UAMY
Wall Street analysts forecast UAMY stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 7.390
Low
9.75
Averages
10.00
High
10.25
Current: 7.390
Low
9.75
Averages
10.00
High
10.25
About UAMY
United States Antimony Corporation is engaged in the production and sale of antimony, precious metals, primarily gold and silver, and zeolite products. The Company has two reportable segments: antimony and zeolite. Its antimony segment consists of its facility located in the Burns Mining District of Sanders County in Montana that processes ore primarily into antimony oxide, antimony metal, antimony trisulfide, and precious metals, and its two facilities in its US Antimony de Mexico, S.A. de C.V. (USAMSA) subsidiary located in Mexico that process ore primarily into antimony metal and a lower grade of antimony oxide. Its zeolite segment includes its vertically integrated Bear River Zeolite (BRZ) facility located in Preston, Idaho that mines, processes, and sells zeolite. Its zeolite has been used in soil amendment and fertilizer, water filtration, and sewage treatment. The Company also operates Fostung Tungsten Property located near Sudbury, Ontario, Canada, near the town of Espanola.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
U.S. Antimony Corp. Forms Strategic JV with Americas Gold and Silver Corp.
- Joint Venture Structure: U.S. Antimony Corp. and Americas Gold and Silver Corp. have formed a joint venture, with the former holding a 49% stake and the latter 51%, ensuring balanced management and decision-making through equal representation.
- Mineral Processing Profits: The joint venture will establish a hydrometallurgical processing plant in Idaho's Silver Valley to process copper, silver, and antimony mined by Americas, expected to generate downstream profits from previously untapped antimony production, enhancing overall profitability.
- Positive Market Reaction: Following the announcement, U.S. Antimony's stock rose by 5%, becoming the top-trending equity on Stocktwits, indicating optimistic market sentiment, with investors viewing it as a long-term investment opportunity.
- National Mineral Strategy: The establishment of this joint venture aims to strengthen domestic critical mineral production, reduce processing costs, and provide a complete mine-to-product solution for antimony, aligning with national needs in defense and industrial applications.
See More
United States Antimony Corporation Announces New Joint Venture
- New Joint Venture Established: United States Antimony Corporation has entered into a joint venture with Americas Gold and Silver Corporation to construct a state-of-the-art hydromet processing facility in Idaho, which is expected to improve recoveries of copper, silver, and antimony while reducing processing costs.
- Management Structure: The joint venture will be owned 51% by Americas and 49% by United States Antimony, with United States Antimony serving as the managing member, ensuring equal representation in major decisions to enhance collaboration efficiency.
- Environmental Permits Secured: Americas has obtained key environmental and operational permits, allowing immediate construction planning for the first commercial-scale hydromet processing center in North America, which holds significant market potential.
- CEO Media Appearance: United States Antimony CEO Gary C. Evans appeared on FOX News on Tuesday morning alongside Americas Gold and Silver CEO Paul A. Huet to discuss the new joint venture, enhancing the company's visibility among investors and potentially driving further stock price increases.
See More
U.S. Antimony Forms Joint Venture for Antimony Processing Plant
- Joint Venture Formation: United States Antimony (UAMY) has formed a joint venture with Americas Gold and Silver (USAS) to construct and operate an antimony processing plant in Idaho's Silver Valley, with USAS holding 51% and UAMY 49%, aiming to provide a mine-to-finished production solution for this critical mineral in the U.S.
- Supply Chain Security: The joint venture will secure antimony feed material from the Galena complex, with priority given to USAS's mined material, thereby enhancing the security of the U.S. supply chain for this essential mineral.
- Technical and Market Support: UAMY will leverage its expertise in constructing and operating such facilities and provide the joint venture access to its antimony marketing network, including connections with the U.S. government, which will bolster the venture's market competitiveness.
- Permit Progress: The site for the new hydromet facility in Idaho has obtained all necessary primary permits, except for construction permits, ensuring smooth project advancement and future production capacity.
See More
U.S. Rare Earth Miners' Shares Rise on New Reserve Plan
- Share Price Surge: Shares of U.S. rare earth miners rose in pre-market trading following President Trump's announcement of a $12 billion critical mineral reserve, indicating a positive market response to the initiative.
- Project Context: Known as Project Vault, this critical mineral reserve aims to counter China's dominance in rare earth minerals, protecting U.S. tech firms and automakers from supply shocks while reducing reliance on Chinese resources.
- Funding Structure: The plan combines $2 billion in private funding with a $10 billion loan from the U.S. Export-Import Bank, with Trump stating that American taxpayers are expected to profit from the interest on the loan, highlighting the project's potential economic benefits.
- National Security Strategy: The new reserve is modeled after existing strategic petroleum and critical stockpiles, intended to support U.S. industry and prevent future supply disruptions, thereby enhancing national security and economic resilience.
See More
US Stocks Rise as Chip and Rare Earth Stocks Rebound
- Market Recovery: The S&P 500 index rose by 0.39%, the Dow Jones Industrial Average increased by 0.84%, and the Nasdaq 100 climbed by 0.64%, reflecting positive market sentiment driven by strong economic signals, particularly following the expansion of the manufacturing index.
- Rare Earth Stocks Surge: President Trump's plan to launch a $12 billion strategic stockpile of critical minerals to reduce reliance on China has led to a rise in US rare earth stocks, with USA Rare Earth up over 12% and United States Antimony Corp up over 6%, indicating a positive impact from supportive policies on the sector.
- Energy Stocks Under Pressure: WTI crude oil prices fell by more than 4%, primarily due to easing geopolitical risks, putting pressure on energy producers, with companies like ConocoPhillips and Chevron seeing declines of over 2%, reflecting market concerns about energy demand prospects.
- Cryptocurrency Market Retreats: Bitcoin prices dropped over 7% to a 9.75-month low, leading to widespread declines in cryptocurrency-related stocks, with Galaxy Digital Holdings down more than 4%, highlighting a weakening market confidence in crypto assets.
See More
US Stocks Rise Slightly as Chip Stocks Rebound
- Chip Stock Rebound: The S&P 500 index rose by 0.25% as chip makers and AI infrastructure stocks rebounded from last Friday's losses, indicating a renewed market confidence in tech stocks that could drive overall market gains.
- Rare Earth Stocks Surge: President Trump's plan to launch a $12 billion strategic stockpile of critical minerals to reduce reliance on China has led to a surge in US rare earth stocks, with USA Rare Earth up over 9%, highlighting the positive impact of policy support on related industries.
- Energy Stocks Under Pressure: WTI crude oil prices fell by more than 4% due to easing geopolitical risks, putting pressure on energy producers like ConocoPhillips and Chevron, which saw declines of over 2%, reflecting market concerns about energy demand.
- Weakness in China's Economy: China's January manufacturing PMI unexpectedly dropped to 49.3, indicating signs of economic slowdown, with the Shanghai Composite Index falling over 2%, which could negatively impact global growth prospects, prompting investors to closely monitor upcoming data.
See More
U.S. Antimony Corp. Forms Strategic JV with Americas Gold and Silver Corp.
- Joint Venture Structure: U.S. Antimony Corp. and Americas Gold and Silver Corp. have formed a joint venture, with the former holding a 49% stake and the latter 51%, ensuring balanced management and decision-making through equal representation.
- Mineral Processing Profits: The joint venture will establish a hydrometallurgical processing plant in Idaho's Silver Valley to process copper, silver, and antimony mined by Americas, expected to generate downstream profits from previously untapped antimony production, enhancing overall profitability.
- Positive Market Reaction: Following the announcement, U.S. Antimony's stock rose by 5%, becoming the top-trending equity on Stocktwits, indicating optimistic market sentiment, with investors viewing it as a long-term investment opportunity.
- National Mineral Strategy: The establishment of this joint venture aims to strengthen domestic critical mineral production, reduce processing costs, and provide a complete mine-to-product solution for antimony, aligning with national needs in defense and industrial applications.
See More
United States Antimony Corporation Announces New Joint Venture
- New Joint Venture Established: United States Antimony Corporation has entered into a joint venture with Americas Gold and Silver Corporation to construct a state-of-the-art hydromet processing facility in Idaho, which is expected to improve recoveries of copper, silver, and antimony while reducing processing costs.
- Management Structure: The joint venture will be owned 51% by Americas and 49% by United States Antimony, with United States Antimony serving as the managing member, ensuring equal representation in major decisions to enhance collaboration efficiency.
- Environmental Permits Secured: Americas has obtained key environmental and operational permits, allowing immediate construction planning for the first commercial-scale hydromet processing center in North America, which holds significant market potential.
- CEO Media Appearance: United States Antimony CEO Gary C. Evans appeared on FOX News on Tuesday morning alongside Americas Gold and Silver CEO Paul A. Huet to discuss the new joint venture, enhancing the company's visibility among investors and potentially driving further stock price increases.
See More
U.S. Antimony Forms Joint Venture for Antimony Processing Plant
- Joint Venture Formation: United States Antimony (UAMY) has formed a joint venture with Americas Gold and Silver (USAS) to construct and operate an antimony processing plant in Idaho's Silver Valley, with USAS holding 51% and UAMY 49%, aiming to provide a mine-to-finished production solution for this critical mineral in the U.S.
- Supply Chain Security: The joint venture will secure antimony feed material from the Galena complex, with priority given to USAS's mined material, thereby enhancing the security of the U.S. supply chain for this essential mineral.
- Technical and Market Support: UAMY will leverage its expertise in constructing and operating such facilities and provide the joint venture access to its antimony marketing network, including connections with the U.S. government, which will bolster the venture's market competitiveness.
- Permit Progress: The site for the new hydromet facility in Idaho has obtained all necessary primary permits, except for construction permits, ensuring smooth project advancement and future production capacity.
See More
U.S. Rare Earth Miners' Shares Rise on New Reserve Plan
- Share Price Surge: Shares of U.S. rare earth miners rose in pre-market trading following President Trump's announcement of a $12 billion critical mineral reserve, indicating a positive market response to the initiative.
- Project Context: Known as Project Vault, this critical mineral reserve aims to counter China's dominance in rare earth minerals, protecting U.S. tech firms and automakers from supply shocks while reducing reliance on Chinese resources.
- Funding Structure: The plan combines $2 billion in private funding with a $10 billion loan from the U.S. Export-Import Bank, with Trump stating that American taxpayers are expected to profit from the interest on the loan, highlighting the project's potential economic benefits.
- National Security Strategy: The new reserve is modeled after existing strategic petroleum and critical stockpiles, intended to support U.S. industry and prevent future supply disruptions, thereby enhancing national security and economic resilience.
See More
US Stocks Rise as Chip and Rare Earth Stocks Rebound
- Market Recovery: The S&P 500 index rose by 0.39%, the Dow Jones Industrial Average increased by 0.84%, and the Nasdaq 100 climbed by 0.64%, reflecting positive market sentiment driven by strong economic signals, particularly following the expansion of the manufacturing index.
- Rare Earth Stocks Surge: President Trump's plan to launch a $12 billion strategic stockpile of critical minerals to reduce reliance on China has led to a rise in US rare earth stocks, with USA Rare Earth up over 12% and United States Antimony Corp up over 6%, indicating a positive impact from supportive policies on the sector.
- Energy Stocks Under Pressure: WTI crude oil prices fell by more than 4%, primarily due to easing geopolitical risks, putting pressure on energy producers, with companies like ConocoPhillips and Chevron seeing declines of over 2%, reflecting market concerns about energy demand prospects.
- Cryptocurrency Market Retreats: Bitcoin prices dropped over 7% to a 9.75-month low, leading to widespread declines in cryptocurrency-related stocks, with Galaxy Digital Holdings down more than 4%, highlighting a weakening market confidence in crypto assets.
See More
US Stocks Rise Slightly as Chip Stocks Rebound
- Chip Stock Rebound: The S&P 500 index rose by 0.25% as chip makers and AI infrastructure stocks rebounded from last Friday's losses, indicating a renewed market confidence in tech stocks that could drive overall market gains.
- Rare Earth Stocks Surge: President Trump's plan to launch a $12 billion strategic stockpile of critical minerals to reduce reliance on China has led to a surge in US rare earth stocks, with USA Rare Earth up over 9%, highlighting the positive impact of policy support on related industries.
- Energy Stocks Under Pressure: WTI crude oil prices fell by more than 4% due to easing geopolitical risks, putting pressure on energy producers like ConocoPhillips and Chevron, which saw declines of over 2%, reflecting market concerns about energy demand.
- Weakness in China's Economy: China's January manufacturing PMI unexpectedly dropped to 49.3, indicating signs of economic slowdown, with the Shanghai Composite Index falling over 2%, which could negatively impact global growth prospects, prompting investors to closely monitor upcoming data.
See More
