US Antimony sales down in 3Q on raw materials

Quarterly sales from Montana-based US Antimony fell by 20.5pc in the third quarter on lower raw materials shipments.

US Antimony sold 335,613lbs of antimony in the third quarter, down from 422,391lbs a year earlier.

Sales from US operations were down by 23pc to 229,865lbs, while sales from Mexican operations fell to 105,748lbs from 123,919lbs a year earlier. Deliveries of raw materials from the North American supplier declined by 444,000lbs over the first nine months of the year, in line with an 18,000lb fall in volumes from Mexico.

US Antimony expects to start testing the cyanide leach circuit at its Puerto Blanco facility in the fourth quarter since permitting has been completed and construction started. The tailings pond will be prepared for a liner by the end of year while construction of the equipment has begun in Montana.

The company intends to begin transporting direct shipping ore from its Guadalupe mine to the Madero smelter by the end of 2018.

Revenues were down by 12pc to $2.09mn. The company lost $177,129, reversing a $54,068 profit from the prior year quarter.

Averages sales prices declined by 4pc to $4.07/lb in the third quarter. Each pound of antimony sold for a net gain of $3.36/lb, improving from a $1.09/lb net loss on each pound sold from a year earlier.

Sales of silver grew by 19pc to 5,415oz, while gold decreased to 24oz from 37oz a year earlier. US Antimony raised sales of zeolite by 33pc to 3,556t in the third quarter.