What happened with UAMY today?
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United States Antimony Corporation turns ore into antimony oxide, metal ingots and trisulfide at facilities in Montana and Mexico, then sells the processed products mainly to customers in the United States and Canada. Antimony supplies most of its revenue. It also mines, processes and sells zeolite through Bear River Zeolite in Idaho, a smaller business. In Montana, it recovers gold and silver alongside antimony and generally sells those precious metals back to the Canadian ore supplier.
The company sells antimony to industrial customers and has a contract with the U.S. Defense Logistics Agency Strategic Materials to supply metal ingots for the National Defense Stockpile. That contract sets prices when delivery orders are placed; it had not generated revenue in 2025. Most company revenue comes from its three largest customers, whose purchases can vary from year to year.
Although the company has resumed mining antimony in Montana, one Canadian supplier still provides most of the ore processed for its antimony customers. The business therefore depends heavily on that supply and on antimony market prices. Its mining and processing operations also need government permits to continue or expand.
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United States Antimony depends on antimony prices, reliable ore supplies and concentrated industrial customers, with the U.S. Defense Logistics Agency another important source of future demand.
United States Antimony will depend on Americas Gold and Silver Corporation selling antimony-bearing material from its Galena mine to their planned processing venture, owned 51% by Americas and 49% by United States Antimony, which will operate it. Watch Galena’s ability to supply enough material: a shortfall could hurt the facility’s performance and United States Antimony’s investment return.
Antimony scarcity and support for U.S. supply matter to both United States Antimony, which processes and sells antimony, and Perpetua Resources Corp., which is developing Idaho deposits but is not yet producing. Watch progress at Perpetua’s Stibnite project as a potential source of U.S. antimony supply, rather than comparing its current sales with United States Antimony’s.
Americas Gold and Silver Corporation earningsUSAS
Americas Gold and Silver's report will show whether its Galena mine can supply enough antimony-bearing material to the processing venture it owns with United States Antimony.
Watch Galena's production and material available for sale, along with any operating setbacks that could limit shipments. More available material and steady operations would make it likelier that the venture gets enough feedstock to support returns on United States Antimony's 49% stake; a shortfall or disruption would constrain processing and weaken those returns.
Perpetua Resources Corp. earningsPPTA
Perpetua Resources' report will show how much closer its Stibnite project is to becoming a U.S. antimony source; it is not yet producing.
Look for concrete progress on permits, financing and development, not a comparison of Perpetua Resources' current sales with United States Antimony's. Movement through key approvals and construction preparation would bring possible future U.S. antimony supply closer, adding potential supply and competition for United States Antimony; stalled progress would leave that supply distant and the current supply picture unchanged.
United States Antimony Corporation earningsThis company
United States Antimony's report will show whether antimony prices and sales volume are generating enough gross profit to cover ore and expansion costs.
Read antimony revenue and pounds sold alongside gross margin. Revenue growth with a stronger margin would show that pricing or supply growth is translating into better unit economics; growth with a weaker margin would suggest ore, energy or expansion-related costs are absorbing the gain. Customer concentration will also show whether growth still depends on a few buyers.
Industrial Production MoM (Oct)
Industrial production tracks output from factories, mines and utilities; stronger or weaker activity can change demand and prices for the antimony and zeolite United States Antimony sells to industrial customers, affecting its sales revenue.
Read stronger output as a possible lift to industrial customers’ demand for United States Antimony’s antimony and zeolite, and weaker output as possible pressure on their purchases or prices; neither guarantees a change in sales.
