UNITED STATES ANTIMONY CORP (UAMY) FY2024 10-K Annual Report
UNITED STATES ANTIMONY CORP (UAMY) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Mar 20, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
UNITED STATES ANTIMONY CORP FY2024 10-K Analysis
Business Overview
- • Core business model: processing and sale of antimony products and zeolite, plus mining and sale of precious metals gold and silver
- • New emphasis on expansion with 2024 acquisitions of mining claims in Alaska and Ontario, Canada, and a metals concentration facility lease in Montana
- • Strategic reversal in 2024: initially planned to sell Mexican subsidiary USAMSA but retained it due to increased antimony demand and price
- • Antimony sales revenue jumped to $11.1M in 2024 from $5.9M in 2023; antimony price per pound rose to $7.61 from $5.44, with 1.46M pounds sold
- • Total employees at year-end 2024: 62, concentrated in Montana, Idaho, and Mexico, reflecting steady workforce size
Management Discussion & Analysis
- • No revenue or profitability figures provided in MD&A, focused on operational and risk factors only
- • Key risk: dependency on single Canadian ore supplier and lease for zeolite mining, potential material adverse impact on operations and cash flow
- • Concentrated customer base with two customers generating 43% of revenues in 2024, heightening revenue volatility and pricing risk
- • Significant operational risks from geological uncertainty, mining accidents, energy cost volatility, infrastructure and labor availability
- • No cash flow, capital allocation, buyback or dividend information disclosed; forward outlook emphasizes risks from market, operational, political and environmental factors without financial guidance
Risk Factors
- • Regulatory risk: uncertainty in VAT refund claims in Mexico, impacting reserves and receivables in 2023 and 2024
- • Geopolitical risk: expanded mining claims in Alaska and Ontario acquired in 2024 with future drilling program planned, requiring government funding access
- • Operational risk: zeolite segment gross loss increased due to machinery repair and backup equipment lease costs during production downtime in 2024
- • Competitive risk: antimony price volatility with market price $10.44/lb in 2024 versus company’s average sales price $7.61/lb, affecting margins and order pricing timing
- • Financial risk: reliance on equity financing with $2.8 million raised from stock sales and $1.5 million from warrant exercises in 2024 to fund operations and growth
UNITED STATES ANTIMONY CORP FY2024 Key Financial MetricsXBRL
Revenue
$15M
▲ +71.8% YoY
Net Income
-$2M
▲ +72.7% YoY
Gross Margin
23.2%
Operating Margin
-16.0%
▲ +6531bp YoY
Net Margin
-11.6%
▲ +6144bp YoY
ROE
-6.1%
▲ +1882bp YoY
Total Assets
$35M
▲ +23.3% YoY
EPS (Diluted)
$-0.02
▲ +66.7% YoY
Operating Cash Flow
$2M
▲ +146.7% YoY
Source: XBRL data from UNITED STATES ANTIMONY CORP FY2024 10-K filing on SEC EDGAR. All figures in USD.
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