United States Antimony Corporation reported a breakout 2025 with sharp growth but still a net loss. Sales reached $39.3 million, up 163% year over year, while gross profit rose $6.4 million and gross margin improved from 23% to 25%.
The company recorded a net loss of $4.3 million versus $1.7 million in 2024, largely driven by $6.7 million of non-cash expenses, mainly stock-based compensation. Liquidity strengthened significantly, with cash, U.S. Treasuries and equity securities totaling $91.3 million at 2025 year-end, up from $18.2 million, and working capital of $44.6 million. Debt remained very low at $195,000.
Management highlighted two 5‑year sales contracts totaling about $354 million, including a sole‑source U.S. government antimony ingot contract now sized at $248 million and an industrial antimony contract of $106.7 million. They expect roughly $75 million of antimony ingot deliveries in fiscal 2026 and guided to $125 million of 2026 revenue.
The company became fully vertically integrated in its Antimony Division, expanded ore sources, and is tripling capacity at the Thompson Falls smelter. It is also developing a new hydrometallurgical facility in Idaho with Americas Gold and Silver and received a $27 million USDOW award to help fund expansion.
On the resource side, US Antimony advanced multiple critical mineral projects. At the Fostung tungsten project in Ontario, an independent S‑K 1300 technical report estimated an inferred mineral resource of 14.77 million metric tons grading 0.17% WO₃, containing 54.17 million pounds of tungsten, with a stated future value of about $4.6 billion based on recent pricing. In Alaska, the company acquired the Nolan Creek property with a prior reserve estimate of 42,400 tons grading 28% antimony and 0.408 ounces of gold per ton, with an in‑situ metal value described as close to $7,000 per ton, implying roughly $297 million of metal value at stated prices.
Management emphasized rapid development at Stibnite Hill in Montana, where about 800 tons of 10% antimony ore were mined and trucked in 2025, and indicated plans to restart mining after winter. They also noted elevated antimony inventory of 465 tons at year-end, up from 78 tons, to support government contract deliveries.
Bear River Zeolite, the company’s zeolite division, is being repositioned under new leadership to focus on water treatment and agriculture. Water treatment currently represents about 75% of its revenue, and the operation benefits from a previously filed reserve report indicating an estimated 400‑year reserve life of high-quality zeolite. Management is pursuing more bulk business, infrastructure upgrades, and long-term supply contracts to improve margins and scale.
Investor relations reported a major shift in the shareholder base. The share price increased from $1.78 to $5.02 during 2025, with market capitalization rising from $201 million to $703 million. Institutional holders grew from 48 to 222, with approximately 40% institutional ownership and average daily trading volume near 15 million shares. The company also uplisted to the NYSE main board and highlighted its positioning as a domestic critical minerals supplier aligned with U.S. national security priorities.
Filer notifies proposed sale of 120,000 common shares. The Form 144 lists 100,000 shares from a stock option exercise dated 10/31/2025 and 20,000 shares from a stock award dated 10/07/2025
Shares outstanding were 143,371,936 as of 03/23/2026$1,060,800.00.
United States Antimony Corporation focuses on mining and processing antimony and precious metals in Montana and Mexico and zeolite in Idaho, and has expanded into new critical-mineral claims in Alaska, Montana and Canada. In 2025, antimony sales reached $35,380,271, up from $11,102,573 in 2024, driven largely by a higher average realized price of $25.12 per pound versus $7.61 a year earlier, amid a stronger Rotterdam market.
The company secured a five-year sole‑source IDIQ contract with the U.S. Defense Logistics Agency with a maximum value of $248 million for antimony metal ingots through September 2030, receiving delivery orders of about $12 million by early 2026. It also signed a five‑year industrial sales agreement for antimony trioxide and was awarded $27.0 million under the Defense Production Act to expand domestic antimony production.
US Antimony invested $37.2 million to acquire roughly 10% of Larvotto Resources Limited, extended a $2.5 million secured loan to an international antimony supplier, and entered a hydrometallurgical processing joint venture with Americas Gold and Silver Corporation. Customer concentration is high, with three customers providing 80% of 2025 revenue, and management disclosed material weaknesses in internal control over financial reporting as of December 31, 2025.
United States Antimony Corporation reported very strong 2025 growth but remained unprofitable. Revenue jumped 163% to $39.26 million, driving gross profit up 185% to $9.87 million and improving gross margin to 25% from 23%.
Higher operating expenses of $18.33 million, including $7.08 million of non‑cash share‑based compensation, led to a net loss of $4.34 million versus a $1.73 million loss in 2024. The company raised over $110 million from equity offerings and warrant exercises, ending 2025 with $91.3 million in cash and investments and funding $27.8 million of capital spending.
USAC highlighted $354 million of new antimony contracts, a roughly 10% equity stake in Larvotto Resources for $37.2 million, antimony inventories rising to 465 tons, and reiterated 2026 gross revenue guidance of $125 million, citing tight global antimony and tungsten markets as key tailwinds.
United States Antimony Corporation is notifying investors that it will release its fiscal year 2025 financial and operating results after U.S. markets close on Thursday, March 19, 2026. Management will host a conference call and webcast that afternoon at 4:15 p.m. Eastern time, with access details provided in the accompanying press release.
The company describes itself as a leading producer and processor of antimony, zeolite, and other critical minerals, with integrated mining and processing operations in the U.S., Mexico, and Canada. It highlights recent acquisitions of mining claims and properties in Alaska, Montana, Alabama, and Ontario during 2024 and 2025 to reduce reliance on third-party antimony ore and broaden its product offerings.
United States Antimony Corporation notified the removal of its Common Stock from listing and registration on NYSE American LLC. The filing indicates the withdrawal is voluntary under 17 CFR 240.12d2-2(c). The explanatory date provided is March 16, 2026.
United States Antimony Corporation announced that the New York Stock Exchange has approved the uplisting of its common stock from NYSE American to the NYSE. The company expects its shares to begin trading on the NYSE on March 11, 2026 under the symbol “UAMY.”
Until the transfer is complete, the stock will continue to trade on NYSE American, also under “UAMY.” The company will remain listed on the NYSE Texas Exchange with the same ticker. Current shareholders are not required to take any action in connection with this uplisting.
United States Antimony Corporation is furnishing an investor presentation that outlines major growth, contracts, and expansion plans. The Company reports 2025 revenue of $26.2 million, up from $9.3 million in 2024, and 2025 gross profit of $7.2 million versus $2.3 million in 2024, reflecting increases of 182% and 219%, respectively. As of December 31, 2025, cash, federal funds, and marketable securities totaled approximately $90–92 million, while market capitalization reached about $1,205.7 million as of February 6, 2026. The presentation highlights a sole-source $245 million contract with the U.S. Defense Logistics Agency and a $106.7 million agreement with a large U.S. industrial fabric manufacturer, along with new international ore supply agreements, smelter expansions, a hydrometallurgical joint venture in Idaho, and growing mining claims for antimony, tungsten, cobalt, and other minerals across the U.S., Canada, and Mexico.
United States Antimony Corporation (US Antimony) has entered a new joint venture with Americas Gold and Silver Corporation to build and operate a state-of-the-art hydromet processing facility in Idaho.
The joint venture will be owned 51% by Americas and 49% by US Antimony, with US Antimony serving as the managing member and major decisions handled by a committee with equal representation from both partners. The plant will process copper, silver, and antimony from Americas’ adjacent mines, aiming for higher recoveries at significantly lower cost, which is expected to improve JV profitability.
The facility is described as the first commercial-scale hydromet processing center of its kind in North America, using technology for which UAMY holds an exclusive license. The Idaho site has already secured all key permits other than construction permits, allowing construction planning to begin. The partners also state they have prepared paperwork to seek potential U.S. government funding aligned with national critical mineral objectives.