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: 9.600
Low
9.75
Averages
10.00
High
10.25
Current: 9.600
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.
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- Military Action Escalation: Defense Secretary Hegseth announced that Tuesday will mark the most intense day of strikes against Iran, with the U.S. observing the lowest number of missiles fired by Iran in the past 24 hours, indicating a significant decline in its military capabilities and potential further losses in the conflict.
- Control of Strategic Objectives: Hegseth emphasized that President Trump will dictate the pace of the war, deciding when specific objectives are achieved, which could influence the U.S.'s long-term military deployment and diplomatic strategy in the Middle East.
- Oil Price Volatility Impact: As the conflict escalates, oil prices surged past $110, prompting the G7 to consider releasing emergency reserves to mitigate economic pressures from the widening Middle East war, which could have profound implications for global energy markets, particularly for oil-importing nations.
- New Leadership Challenges: Trump expressed dissatisfaction with Iran's new supreme leader Mojtaba Khamenei, suggesting he cannot live in peace, which may exacerbate tensions in U.S.-Iran relations and affect future diplomatic negotiations.
See More
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- Diplomatic Balancing Act: India faces a diplomatic balancing act amid the Iran crisis, particularly as its oil supply vulnerability is highlighted by only weeks of crude reserves compared to China's months-long stockpiles, indicating India's economic fragility.
- Multi-Alignment Strategy: While China's Foreign Minister calls for stronger BRICS cooperation, India remains silent, and experts warn that abandoning its multi-alignment approach could lead to supply volatility and fiscal strain, especially with rising LPG and LNG prices.
- US Relations: India has not condemned US actions during the Iran crisis and appears to be leaning closer to Israel, raising questions about whether Modi's visit to Israel indicates a shift towards the US-Israel coalition.
- Economic Interests: Although India has not taken sides in the conflict, its national interests seem to align more with the US and Israel, particularly after the US lifted punitive tariffs on Indian purchases of Russian crude, which could impact India's diplomatic standing in the Global South.
See More
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- Iran's Military Stance: The Iranian Foreign Ministry spokesperson stated that attacks on U.S. military bases in the Gulf are legitimate under international law, a position that may escalate regional tensions and affect international relations.
- New Leadership Impact: The appointment of Mojtaba Khamenei as Iran's new Supreme Leader is expected to unify the nation, with the spokesperson asserting that state institutions and the populace will rally around the new leadership, potentially leading to a more aggressive foreign policy.
- Sovereignty and International Law: Iran emphasized its right to choose its leaders without foreign intervention, asserting its commitment to defending national sovereignty under international law, which may provoke widespread attention and reactions from the international community.
See More
China's Strategy to Mitigate Surging Oil Prices
- Mitigated Oil Price Impact: With oil prices surpassing $100 per barrel for the first time, China's substantial 1.2 billion barrels of crude reserves and diversification into renewables suggest a reduced sensitivity to price fluctuations, highlighting its unique position in global energy markets.
- Energy Consumption Transition: By 2030, China aims to increase the share of non-fossil fuels in total energy consumption to 25%, reflecting its commitment to renewables and further decreasing reliance on maritime oil imports, which is crucial for long-term energy security.
- Growing EV Demand: The rapid adoption of electric vehicles, particularly in heavy trucks, has already displaced over 1 million barrels per day of implied oil demand, with expectations of an additional 600,000 barrels per day increase in the next year, showcasing the potential of electrified transportation.
- Strategic Reserve Expansion: China is projected to expand its strategic oil reserves by approximately 1 million barrels per day by 2026, a move that not only enhances energy security but also provides a buffer against future market volatility.
See More
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- Trump's Planned Visit to China: President Trump is scheduled to visit China from March 31 to April 2, marking the first visit by a sitting US president since 2017; although the exact dates are yet to be confirmed, this visit could positively impact US-China relations.
- Call for Ceasefire in Iran Conflict: Wang reiterated calls for a ceasefire in the Iran conflict, stating that the war brings no benefits, and emphasized China's role in promoting constructive engagement in international affairs to foster global stability.
- Tariff Negotiation Dynamics: The US and China reached a fragile truce in October to lower tariffs to below 50%, and Wang warned against exacerbating tensions through economic and technological decoupling, which could have detrimental effects on the global economy.
See More
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- High-Level Talks: On October 30, 2025, US President Donald Trump and Chinese President Xi Jinping met in South Korea to seek a truce in their trade war, with Trump expressing optimism about the meeting while China remained cautious, highlighting the complexities in their trade relations.
- Impact of Iran War: The US military actions against Iran have heightened tensions between the US and China, particularly given China's status as the largest buyer of Iranian oil, suggesting that Trump's aggressive stance could influence the atmosphere of the upcoming summit.
- Market Reactions: The military conflict has disrupted shipments through the Strait of Hormuz, causing a rebound in international oil prices and creating visible ripples in the global economy, especially affecting China and other Asian economies reliant on oil from the region.
- China's Strategic Considerations: Despite facing US military pressure, China has responded with an unusually soft tone, indicating its desire to maintain dialogue with the US, particularly in light of its expanding investments in the Middle East, which may influence future bilateral relations.
See More
