United States Antimony Corporation (NYSEMKT:UAMY) the CEO announced that no shareholder dilution or debt is necessary and UAMY will seek to internally fund continued growth. stock has been forming a powerful bowl pattern and now on the uptrend on increasing volume. The share price has surged on recent developments of test results from one of its locations. UAMY has more than doubled since hitting it 52-week low and hit an intraday high of $0.43 and ended the day flat.
The company recently announced that testing has begun at Los Juarez Mill and provided an update on the progress. UAMY is testing in order to determine whether a cyanide leach circuit is necessary. If it is not required, then no further permitting is foreseen to commence pilot scale production. US Antimony is a growing, vertically-integrated natural resource company that has production and diversified operations in precious metals, zeolite and antimony.
The current game plan is to test every portion of the operation on a pilot scale that will run up to 100 tons per day. There are currently four stages that is part of the operations. Installation at the Madero smelter to process flotation concentrates is close to completion. Stage two is to determine whether selective mining is possible and to determine if cyanide circuit at a different mill is required. Third stage is the installation of the cyanide leach plant if necessary. Fourth is the installation of the 500 ton per day mill to reduce costs for trucking material.
UAMY is engaged in the production and sale of antimony, silver, gold, and zeolite products. The core strategy of the company is a focus mining, transportation, milling, smelting and marketing company. UAMY has operations that include a smelter and a precious metal refinery in Montana, and a smelter and three mills in Mexico. It operates through Antimony Division and Zeolite Division
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UAMY is currently trading at a $24 million market valuation. UAMY is in the early stages of turning around and starting to grow. As commodity prices have seem to rebound, UAMY will continue to benefit financially and make projects more feasible and favorable. The stock has made a powerful move on increasingly heavy volume and investors should expect this trend to continue.
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Disclosure: we hold no position in UAMY either long or short at the publication of this article and we have not been compensated for this article.