United States Antimony (UAMY) Q1 Virtual Investor Summit Event earnings summary

Strategic direction and market positioning

• Underwent significant management and board changes, setting a new direction focused on growth and operational efficiency.

• Holds a unique position as the only antimony smelter in the US, Mexico, North America, and the Western Hemisphere.

• Benefiting from US executive order requiring domestic sourcing of critical minerals, driving demand for antimony by 2027.

• China’s export ban on antimony has caused prices to surge, enhancing market opportunity.

• Actively lobbying and engaging with US lawmakers to support domestic critical mineral production.

Operations and expansion plans

• Operating two smelters: Thompson Falls, MT (300+ tons/month) and Madero, Mexico (200 tons/month), with the latter restarting and being modernized.

• Leased a flotation facility in Montana to process lower-grade concentrates and support munitions-grade production.

• Expanding mineral leases in Alaska (40,000 acres) and Ontario, Canada, targeting antimony and cobalt.

• Plans to bring Alaskan antimony to market by late Q2 or early Q3 2025, marking the first US/Canada commercial supply in years.

• Exploring further expansion of smelting capacity, with potential DOD funding under review.

Financial performance and outlook

• 2023 revenues were $8.7 million; 2024 revenues projected to nearly double to $14–15.5 million, with record margins.

• Q1 2025 expected to match or exceed prior full-year results, indicating exponential growth.

• Maintains high cash reserves (~$18 million), minimal debt, and no immediate need for capital raises.

• Actively marketing to investors and covered by two equity research firms, with more coverage anticipated post-earnings.