2014 Annual Shareholder

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U.S. ANTIMONY CORPORATION
(USAC)
ANNUAL SHAREHOLDERS MEETING
2014
ASM 12-13-14
1
AGENDA
INTRODUCTION (John Lawrence, President and CEO)
STRATEGY
2014 ACCOMPLISHMENTS
WHERE WE ARE NOW
WHERE WE ARE GOING IN 2015 (John Lawrence)
ANTIMONY MARKET AND SALES (Matt Keane, Vice-President)
FINANCIAL CONDITION (Dan Parks, CFO)
ANTIMONY PROCESSING OPERATIONS
MINING
Wadley, San Luis Potosi, Mexico (Gus Gustavsen, Vice-President))
Soyatal, Queretaro, Mexico (John Lawrence)
Guadalupana, Queretaro, Mexico (John Lawrence)
Miscellaneous Mines, Mexico (Russ Lawrence, Vice-President))
Los Juarez Silver-Antimony-Gold Mine, Queretaro, Mexico (Hart Baitis, Director)
Guadalupe, Zacatecas, Mexico (Hart Baitis)
Canada Off-Take (Gus Gustavsen)
MILLING
Wadley Oxide Mill, San Luis Potosi (Gus Gustavsen)
Puerto Blanco Oxide Mill, Guanajuato, Mexico (Gus Gustavsen)
Puerto Blanco Flotation Mill, Guanajuato, Mexico (John Lawrence)
SMELTING
Madero Smelter, Coahuila, Mexico (Russ Lawrence)
Precious Metal Plant, Montana (Gus Gustavsen)
Montana Smelter (Marilyn Sink, Plant Manager)
BEAR RIVER ZEOLITE
MARKET FOR UAMY (Bert Denton, Providence Capital, Inc)
2
INTRODUCTION
NYSE: UAMY
1. Welcome
2.
The USAC mission is to capture 50% or more of the domestic market for
antimony, which is approximately 55,000,000 pounds. If we are successful,
we will have sales of $110 million per year at $4.00 per pound of contained
metal.
3.
I will present a quick overview of:
• Our strategy
• Our accomplishments
• Our present status
• Where we are going
4.
Thereafter, we will ask our Directors and Staff to report details
5.
Feel free to ask questions after each topic
3
STRATEGY
1.
To be in the antimony business, a Company must own or control their
source of raw materials.
2.
Historically, three countries were able to do this: Bolivia, Mexico and
China.
3.
Bolivia and Mexico dropped out of the picture due to low prices and China
has assumed more than 90% of the world supply.
4.
USAC was familiar with all of the Mexican antimony mines that had placed
Mexico as the world’s second largest producer prior to their shutdown.
5.
First, USAC tied up all the significant properties.
6.
Second, USAC upgraded its old smelter at Mexico.
7.
Third, USAC constructed a flotation and oxide mill at Puerto Blanco and an
oxide mill at Wadley, Mexico.
4
ACCOMPLISHMENTS IN 2014
1. The Company achieved an all time 9-month record production of 1,358,518
pounds with an estimated 1.8 million pounds for the full year.
2. From Q2 until Q3, antimony sales increased 59% from 332,106 pounds to
529,129 pounds due to an increase in the Canadian off-take contract.
3. Mexican production increased by more than 61% during this same time
period from 96,724 pounds to 156,348 pounds due to additional furnace
capacity.
4. Four new furnaces were added to the Madero smelter by early Q4 at a cost
of $600,000. They will increase our Mexican production by 50%.
5. The natural gas line at our Madero smelter was connected during the later
part of Q3 at a cost of approximately $1,800,000. This will reduce our costs
for fuel by approximately $.70 per pound for the Mexico production, and
approximately $.25 per pound for our total company wide production.
5
PRESENT STATUS
1. We have entered an agreement with Hillgrove Mines of Australia to
purchase, process and sell a 60% antimony concentrate that contains
20 grams of gold. This would amount to 3,000,000 pounds of antimony
and 1,500 ounces of gold per year. There is a provision in the contract that
will allow Hillgrove to triple their off-take to USAC.
2. We have developed a process to make a high recovery of the silver and gold
from Los Juarez concentrates.
3. We are negotiating an Agreement to supply the oil and gas industry more
than 12,000 tons minimum per year of BRZ zeolite which will double
production.
6
WHERE WE ARE GOING IN 2015
1. The poor commodities market presents huge opportunities for USAC to
economically purchase antimony reserves, and mining and milling equipment.
2. Our Canadian off-take agreement should provide approximately 1,200,000
pounds of contained antimony during 2015.
3. Mexican production should provide 1,000,000 pounds per year and is growing
fast due to increased production and higher grade furnace feed.
4. The Los Juarez leach plant is expected to be permitted, installed and operating
by the second half of 2015, and will mark the beginning of precious metal (PM)
production .
5. Once the leach plant is smooth and the 150 tpd mill reaches capacity, the
500 tpd mill will be completed at Puerto Blanco.
6. Hillgrove production should start in Q1 2015 and reach annualized production
of 3,000,000 tpy with 1500 ounces of gold. This could triple by the end of the
year.
7. During 2015 we are planning to produce 4,500,000 to 5,000,000 pounds of
antimony versus 1.8 million pounds this year. Another record of antimony
production is anticipated in 2016.
8. BRZ should double production in 2015 by making sales to the oil and gas
industry.
7
Corporate Offices and Plant, Thompson Falls, Montana
8
Corporate Offices, Thompson Falls, Montana
9
ANTIMONY MARKET AND SALES (Matt Keane)
10
SALES OF ANTIMONY
11
SALES OF ZEOLITE
12
MEXICO MINING OPERATIONS
13
ANTIMONY FLOW DIAGRAM
14
Wadley Mine, San Luis Potosi, Mexico: General Labor Buscones
15
Wadley aerial tramway
16
Wadley Mine Ore Truck, SLP
17
Soyatal Mine DSO (direct shipping ore) Queretaro, Mexico
18
SOYATAL MLL REPORT, QUERETARO, MEXICO
19
Guadalupana Mine, QRO, Mexico Crew
20
GUADALUPANA CONCENTRATES, ZACETECAS, MEXICO
21
GUADALUPANA MILLING REORT, ZACETECAS, MEXICO
22
Los Juarez From Below, Queretaro, Mexico
23
Concesiones del Grupo
Los Juarez Concessions, Queretaro, Mexico
24
West End, Los Juarez, Queretaro, Mexico
25
Miners, Mina Grande, Los Juarez, Queretaro, Mexico
26
Los Juarez Mine, Reynaldo Pit, Queretaro, Mexico
27
Grupo, Mexico, Los Juarez, Queretaro, Mexico
28
Folding in Limestone, Guadalupe, Zacetecas, Mexico
29
Santa Monica Mine, Guadalupe, Zacetecas, Mexico
30
Guadalupe Mine, Zacetecas, Mexico
31
Guadalupe Stopes, Zacetecas, Mexico
32
Guadalupe Stopes, Zacetecas, Mexico
33
Miner, Guadalupe, Zacetecas, Mexico
34
Wadley Mill, San Luis Potosi, Mexico
35
Wadley Concentration Tables, SPP, Mexico
36
Wadley Oxide Mill, San Luis Potosi, Mexico, Mexico
37
Primary Crusher, Puerto Blanco Mill, Guanajuato, Mexico
38
Puerto Blanco Mill, Oxide Concentration Table, Guanajuato, Mexico
39
Puerto Blanco Mill, Aerial View, Guanajuato, Mexico
40
150 Ton Ball Mill, Puerto Blanco Mill, Guanajuato, Mexico
41
Puerto Blanco Flotation Mill Froth, Guanajuato, Mexico
42
Natural Gas City Gate, Madero Smelter, Coahuila, Mexico
43
Madero Smelter 2013, Coahuila, Mexico
44
2014 Madero Smelter, Coahuila, Mexico
45
150’ High Stack, Madero Smelter, Coahuila, Mexico
46
Scrubber, Madero Smelter, Coahuila, Mexico
47
Mixing Furnace Charges, Madero Smelter, Coahuila, Mexico
48
USAC Precious Metals Plant, Thompson Falls, Montana
49
ZEOLITE SALES BY CATEGORY
Animal Feed
41.46%
Water Filtration
18.34%
Soil Amendment
14.85%
Traction
9.02%
Air Filtration
8.68%
Synthetic Turf
0..83%
Odor Control
1.38%
Absorption
0..65%
Pest Control
0.25%
Litter
0.35%
Pigment
0.08%
Distribution
0.33%
Home and Misc.
1.41%
Oil Well
2.06%
Remediation
0.50%
50
ZEOLITE PROCESS FACILITY
51
BRZ Pit, Preston, Idaho
52
BRZ Pit, Preston, Idaho
53
BRZ Raymond Mill, Preston, Idaho
54
Triple Derrick, Killdeer, North Dakota
55
Invest Mud Bakken, North Dakota
56
BRZ On Invest Drill Mud Bakken, North Dakota
57
Reclaimed tailings area, Thompson Falls, Montana. USAC is environmentally conscientious.
58
59
47
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