Message #6 From:
Stock News Bot Date: October 3, 2005 05:07:00 AM
UAMY News U. S. Antimony Announces Successful Start Up of Plant to Process Legacy Stockpile of Antimony
THOMPSON FALLS, Mont.--(BUSINESS WIRE)--Oct. 3, 2005--United States Antimony Corporation (USAC) (OTCBB:UAMY) announced that it has successfully started up a new plant to recover antimony metal from a legacy slag stockpile at Thompson Falls, Montana. The plant involves a gravity separation process that is inexpensive and that recovers more than 80% of the values. The exact size of the stockpile is unknown, but production is expected to be significant.
During the last 6 weeks ending September 23, 2005, the price of antimony metal has increased $.27 per pound to an average price of $1.975. This is the highest price since 1995. China has historically supplied 90 percent of the world demand for antimony. Prices are expected to continue upwards sharply due to fuel price increases, depletion of reserves in China, and increasing world demand.
The Chinese have increased their price of raw materials to other antimony producers in the United States, and at the same time they have lowered their price for finished goods. The maneuver has systematically shut down all other producers in the U. S. with the exception of USAC.
USAC is now preparing antimony resources in Mexico to take advantage of this opportunity. Developments will be forthcoming in several weeks.
Forward-Looking Statements:
This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, pending contracts and future revenues. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-KSB with the Securities and Exchange Commission.
