United States Antimony Corp. ( (UAMY) ) has released its Q3 earnings. Here is a breakdown of the information United States Antimony Corp. presented to its investors.
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United States Antimony Corp. is a Montana-based company engaged in the production and sale of antimony, zeolite, and precious metals, operating primarily within the mining and materials sector. It has operations in both the U.S. and Mexico.
In its latest earnings report, United States Antimony Corp. reported an increase in revenues for the third quarter of 2024 compared to the same period in 2023, driven by higher sales of antimony products and precious metals. However, the company faced increased operating expenses, leading to a net loss for the period.
The company’s financial performance showed a 17% increase in revenue for the first nine months of 2024, reaching $8.1 million compared to $6.5 million in 2023. Despite the revenue growth, operating expenses rose significantly, with general and administrative expenses more than doubling from the previous year. The company also incurred losses from discontinued operations in Mexico but managed a reduction in net loss compared to the previous year.
Looking forward, United States Antimony Corp. is focusing on restructuring its operations, including the sale of its Mexican subsidiary USAMSA, which is expected to streamline operations and improve financial stability. The company remains committed to enhancing its production capabilities and exploring new opportunities within its industry.
