U.S. Antimony Reports Natural Gas and Increasing Output from Mexican Smelter
THOMPSON FALLS, Mont.--(BUSINESS WIRE)--United States Antimony Corporation (“USAC”, NYSE MKT “UAMY”) reported that natural gas had been turned on at its Mexican Madero Smelter. Natural gas will be approximately seventy percent lower than the cost of propane, and it is expected to significantly increase the gross margin. The Company is also adding four more furnaces that will increase smelter output by 50% and start reducing the inventory of smelter feed. Presently, the smelter is shipping antimony metal of a very high grade similar to Chinese Grade 1. All production is in a sold out status.
“The Company is in a rapidly expanding growth phase and is now permitting more furnaces to further increase smelter capacity.”
Chief Executive Officer, John Lawrence, commented, “The Company is in a rapidly expanding growth phase and is now permitting more furnaces to further increase smelter capacity.”
Forward Looking Statements:
This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, pending contracts and future revenues, ability to execute on its increased production and installation schedules for planned capital expenditures and the size of forecasted deposits. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-KSB with the Securities and Exchange Commission.