UAMY · United States Antimony Corporation

United States Antimony Corporation disclosed its first quarter 2026 financial and operational results via a conference call on May 14, 2026, with a transcript furnished as Exhibit 99.1. Sales of $6.8 million were nearly flat compared to $7 million in the prior year first quarter, reflecting a 2% decline in the antimony segment and a 7% drop in zeolite, amid strategic investments. Gross profit fell by $1.3 million, attributed to elevated labor, factory, and freight costs necessary to build talent, facilities, and inventory for an anticipated production ramp-up later in 2026. Management expects cost improvements through economies of scale as sales volume increases. The $11.3 million net loss was largely non-cash, comprising $4.8 million in stock compensation and a $4.1 million unrealized loss on Larvotto equity securities, underscoring the impact of equity-based incentives and market volatility on reported earnings. Balance sheet strength persisted with $60.2 million in cash equivalents and securities, inventory expansion to $22 million from $12.5 million at year-end 2025, and minimal debt of $162,000. Post-quarter, the company secured $12.8 million from a $27 million U.S. government expansion grant and $48.6 million in gross proceeds from stock sales, bolstering liquidity for growth. Operationally, antimony mining plans are set for Montana and Alaska in 2026, with contracts for monthly deliveries to smelters in Montana and Mexico. Exploration advances include tungsten at Fostung, Ontario (inferred resource of 14.62 million tons at 0.17% WO3), high-grade antimony-gold at Nolan Creek, Alaska, and copper at Maclaren River. Zeolite sales surged 60% in March 2026, driven by animal feed demand. Management expressed optimism for back-half 2026 results from these diversification efforts into antimony, cobalt, gold, tungsten, and zeolite.