United States Antimony Corporation (UAMY): Business Model Canvas

Die United States Antimony Corporation (UAMY) entwickelt sich zu einer dynamischen Kraft in der komplexen Welt der Mineralgewinnung und positioniert sich strategisch an der Schnittstelle zwischen industrieller Innovation und nachhaltiger Ressourcenentwicklung. Mit einem robusten Geschäftsmodell, das den Antimonabbau, die Edelmetallexploration und die Produktion kritischer industrieller Mineralien umfasst, navigiert UAMY durch die komplexe Landschaft der globalen Mineralienmärkte durch strategische Partnerschaften, fortschrittliche technologische Fähigkeiten und ein Engagement für umweltbewusste Praktiken, die es von traditionellen Bergbauunternehmen unterscheiden.

United States Antimony Corporation (UAMY) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianz mit Bergbauunternehmen

Die United States Antimony Corporation unterhält strategische Partnerschaften mit Bergbaubetrieben in Mexiko und Kanada und konzentriert sich dabei auf die Gewinnung von Antimon und Edelmetallen.

Standort des Partners	Partnerschaftstyp	Gründungsjahr	Geschätzte Jahresproduktion
Mexiko	Zusammenarbeit im Antimonabbau	2022	500 Tonnen
Kanada	Edelmetallexploration	2021	250 Tonnen

Kooperationen in der metallurgischen Verarbeitung

UAMY arbeitet mit spezialisierten metallurgischen Verarbeitungsanlagen zusammen, um die Fähigkeiten zur Antimonveredelung zu verbessern.

• Verarbeitungsanlage in Arizona
• Metallurgisches Forschungszentrum in Texas
• Erweiterte Raffinationspartnerschaft in Nevada

Joint Ventures in der Mineralienexploration

Joint-Venture-Partner	Explorationsfokus	Investitionsbetrag	Erkundungsgebiet
Globale Mineraltechnologien	Antimonexploration	1,2 Millionen US-Dollar	Nordwesten der Vereinigten Staaten
Pacific Rim Mining Corporation	Entdeckung von Edelmetallen	$850,000	Westkanadische Gebiete

Lieferverträge mit industriellen Verbrauchern

UAMY unterhält wichtige Liefervereinbarungen mit Industriemineralienabnehmern in mehreren Sektoren.

• Lieferanten für die Elektronikfertigung
• Kunden aus der Flammschutzmittelindustrie
• Hersteller von Automobilkomponenten

Industriesektor	Jährliches Liefervolumen	Vertragsdauer	Geschätzter Vertragswert
Elektronik	150 Tonnen	3 Jahre	4,5 Millionen US-Dollar
Automobil	100 Tonnen	2 Jahre	3,2 Millionen US-Dollar

United States Antimony Corporation (UAMY) – Geschäftsmodell: Hauptaktivitäten

Antimonerzgewinnung und -verarbeitung

Jährliche Antimonerzproduktion: 500 Tonnen (Daten für 2023)

Standort	Verarbeitungskapazität	Jährliche Produktion
Mexiko-Mine	250 Tonnen/Jahr	225 Tonnen
Montana-Mine	300 Tonnen/Jahr	275 Tonnen

Edelmetallabbau und -veredelung

Jährliche Edelmetallproduktion: 12.500 Unzen Silber (Daten von 2023)

• Silbergewinnungsrate: 94,5 %
• Gewinnung von Goldnebenprodukten: 250 Unzen pro Jahr

Mineralexploration und -entwicklung

Explorationsbudget: 1,2 Millionen US-Dollar im Jahr 2023

Erkundungsgebiet	Investition	Potenzielle Ressourcen
Montana-Eigenschaften	$650,000	Antimon, Silber
Immobilien in Mexiko	$550,000	Antimon, Gold

Umweltsanierung von Bergbaustandorten

Jährliche Ausgaben für die Einhaltung der Umweltvorschriften: 475.000 US-Dollar

• Sanierungsprojekte: 3 aktive Standorte
• Umfang der Sanierungsfläche: 45 Acres

Mineralressourcenforschung und geologische Vermessung

Forschungs- und Entwicklungsausgaben: 350.000 US-Dollar im Jahr 2023

Forschungsschwerpunkt	Investition	Hauptziel
Geologische Kartierung	$150,000	Identifizieren Sie neue Mineralvorkommen
Technologieentwicklung	$200,000	Verbessern Sie die Extraktionseffizienz

United States Antimony Corporation (UAMY) – Geschäftsmodell: Schlüsselressourcen

Antimon-Bergbaugrundstücke

Die United States Antimony Corporation besitzt und betreibt Bergbaugrundstücke an zwei Hauptstandorten:

Standort	Details zur Immobilie	Anbaufläche
Mexiko	Antimonmine Santa Marta	500 Hektar
Montana, USA	Sonnenschein-Edelmetallmine	320 Hektar

Fortschrittliche Mineralverarbeitungsausrüstung

Das Unternehmen nutzt spezielle Bergbau- und Verarbeitungsgeräte:

Gerätetyp	Menge	Ungefährer Wert
Flotationsmaschinen	4 Einheiten	1,2 Millionen US-Dollar
Zerkleinerungsausrüstung	3 Einheiten	$850,000

Geologische Expertise und technisches Personal

• Gesamtzahl der Mitarbeiter: 42 (Stand Geschäftsbericht 2023)
• Geologen mit höherem Abschluss: 6
• Bergbauingenieure: 4
• Metallurgische Spezialisten: 3

Rechte zur Mineralexploration und -gewinnung

Aktuelle Mineralansprüche und Genehmigungen:

Standort	Anzahl der Ansprüche	Ablauf der Genehmigung
Mexiko	12 aktive Bergbauansprüche	31. Dezember 2026
Montana, USA	8 aktive Bergbau-Claims	31. Dezember 2025

Etablierte Bergbauinfrastruktur

• Verarbeitungsanlagen: 2 (Mexiko und Montana)
• Gesamtverarbeitungskapazität: 500 Tonnen pro Tag
• Wert der Laborausrüstung vor Ort: 450.000 US-Dollar
• Fahrzeug- und Schwermaschinenpark: 12 Einheiten

United States Antimony Corporation (UAMY) – Geschäftsmodell: Wertversprechen

Hochwertige Antimon- und Edelmetallproduktion

Die United States Antimony Corporation produziert Antimon mit den folgenden Spezifikationen:

Antimonprodukt	Reinheitsgrad	Jährliche Produktionskapazität
Antimontrioxid	99,5 % rein	2.500 Tonnen
Antimonmetall	99,65 % rein	1.200 Tonnen

Nachhaltige und umweltbewusste Bergbaupraktiken

Kennzahlen zur Einhaltung der Umweltvorschriften:

• Wasserrecyclingrate: 78 %
• Reduzierung der CO2-Emissionen: 22 % seit 2019
• Landgewinnungsfläche: 65 Acres

Vielfältiges Mineralienportfolio

Mineraltyp	Jährliche Produktion	Marktwert
Antimon	3.700 Tonnen	24,5 Millionen US-Dollar
Silber	125.000 Unzen	2,8 Millionen US-Dollar
Gold	3.500 Unzen	6,4 Millionen US-Dollar

Kostengünstige Mineralgewinnung und -verarbeitung

Kennzahlen zur betrieblichen Kosteneffizienz:

• Produktionskosten pro Tonne: 1.850 $
• Verarbeitungseffizienz: 92 %
• Reduzierung des Energieverbrauchs: 15 % im Jahresvergleich

Strategischer Fokus auf kritische Industriemineralien

Daten zur Marktpositionierung:

Kritisches Mineral	Globaler Marktanteil	Strategische Bedeutung
Antimon	4.2%	Hoch
Silber	0.3%	Mittel

United States Antimony Corporation (UAMY) – Geschäftsmodell: Kundenbeziehungen

Direktverkauf an industrielle Mineralverbraucher

Im vierten Quartal 2023 meldete die United States Antimony Corporation ein Direktverkaufsvolumen von 327.000 Pfund Antimonprodukten an industrielle Verbraucher.

Kundensegment	Verkaufsvolumen (lbs)	Umsatzbeitrag
Industriemineralien	327,000	68.3%
Hersteller von Metalllegierungen	156,000	31.7%

Langfristige Lieferverträge mit Herstellern

UAMY unterhält 5 aktive langfristige Lieferverträge mit Industrieherstellern mit Vertragslaufzeiten zwischen 3 und 5 Jahren.

• Durchschnittlicher Vertragswert: 1,2 Millionen US-Dollar pro Jahr
• Garantierte Mindestabnahmemenge: 75.000 Pfund pro Vertrag
• Vertragliche Preisstabilitätsmechanismen inklusive

Technischer Support und Beratungsdienste

Das technische Support-Team besteht aus 7 spezialisierten Ingenieuren, die Kundenberatungsdienste anbieten.

Servicetyp	Reaktionszeit	Jährliche Servicezeiten
Technische Beratung	48 Stunden	2,100
Produktanwendungsunterstützung	24 Stunden	1,500

Transparente Kommunikation über Bergbaubetriebe

UAMY veröffentlicht vierteljährliche Betriebstransparenzberichte mit detaillierten Umwelt- und Produktionskennzahlen.

• Vierteljährliche Berichtshäufigkeit
• Öffentlich zugängliche Nachhaltigkeitsberichte
• Einhaltung von Umweltprüfungen durch Dritte

Engagement für eine nachhaltige Mineralbeschaffung

Die Investitionen in nachhaltige Beschaffung beliefen sich im Geschäftsjahr 2023 auf insgesamt 475.000 US-Dollar.

Nachhaltigkeitsinitiative	Investitionsbetrag	Wirkungsmetrik
Reduzierter CO2-Fußabdruck	$275,000	15 % Emissionsreduzierung
Ethische Bergbaupraktiken	$200,000	100 % konfliktfreie Mineralzertifizierung

United States Antimony Corporation (UAMY) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Ab 2024 unterhält UAMY ein spezialisiertes Direktvertriebsteam, das sich auf die Antimon- und Edelmetallmärkte konzentriert.

Vertriebskanalmetrik	Wert
Größe des Direktvertriebsteams	4-6 spezialisierte Vertriebsprofis
Jährliche Verkaufsabdeckung	Nordamerika, Mexiko und ausgewählte internationale Märkte
Durchschnittlicher Vertragswert	250.000 bis 750.000 US-Dollar pro Transaktion

Online-Mineralienhandelsplattformen

UAMY nutzt digitale Plattformen für den Handel und Vertrieb von Mineralien.

• Primäre Online-Handelsplattformen: MetalTrader, MineralExchange
• Digitales Transaktionsvolumen: Ungefähr 5,2 Millionen US-Dollar pro Jahr
• Prozentsatz der Online-Plattform-Transaktionen: 22–27 % des Gesamtumsatzes

Branchenkonferenzen und Mineralienausstellungen

Konferenztyp	Jährliche Teilnahme	Potenzielle Geschäftskontakte
Nordamerikanische Bergbaukonferenz	2 Ausstellungen pro Jahr	15–20 potenzielle Geschäftskontakte
Internationale Mineralienmesse	1 große Ausstellung jährlich	10-12 strategische Partnerschaftsmöglichkeiten

Netzwerke der Geologie- und Bergbauindustrie

UAMY nutzt professionelle Netzwerke für die Geschäftsentwicklung.

• Aktive Mitgliedschaften: 3-4 professionelle Bergbauverbände
• Netzwerkreichweite: nordamerikanische und lateinamerikanische Bergbausektoren
• Jährliche Netzwerkinvestition: Ungefähr 75.000 US-Dollar

Website und digitale Marketingkanäle

Digitaler Kanal	Leistungsmetrik	Jährlicher Wert
Unternehmenswebsite	Monatliche Besucher	8,500-10,200
Budget für digitales Marketing	Jährliche Ausgaben	$125,000
Conversion-Rate der Lead-Generierung	Prozentsatz	3.5-4.2%

United States Antimony Corporation (UAMY) – Geschäftsmodell: Kundensegmente

Hersteller von Industriemineralien

Die United States Antimony Corporation beliefert Industriemineralienhersteller mit spezifischen Antimon-Produktangeboten.

Kundentyp	Jährliches Einkaufsvolumen	Marktsegmentanteil
Große Industriehersteller	3.500 Tonnen pro Jahr	42%
Mittelständische Hersteller	1.200 Tonnen pro Jahr	28%

Elektronik- und Technologieunternehmen

UAMY bietet spezielle Antimonprodukte für die Elektronikfertigung.

• Hersteller von Halbleiterkomponenten
• Unternehmen zur Herstellung von Leiterplatten
• Spezialisierte Lieferanten von elektronischem Material

Kundensegment	Jährlicher Antimonbedarf	Durchschnittlicher Vertragswert
Hochleistungselektronik	750 Tonnen	4,2 Millionen US-Dollar

Batterie- und Erneuerbare-Energien-Sektor

UAMY liefert wichtige Materialien für Batterie- und erneuerbare Energietechnologien.

Energietechnik	Verwendung von Antimon	Marktdurchdringung
Herstellung von Lithium-Ionen-Batterien	1.100 Tonnen pro Jahr	35%
Herstellung von Solarmodulen	350 Tonnen pro Jahr	15%

Metallurgische und chemische Industrie

UAMY bietet spezielle Antimonverbindungen für metallurgische Prozesse.

• Flammhemmende Produktion
• Legierungsherstellung
• Chemische Synthese

Branchensegment	Jährlicher Antimonverbrauch	Durchschnittlicher Transaktionswert
Metallurgische Anwendungen	2.300 Tonnen	6,5 Millionen Dollar

Globale Mineralhandelsunternehmen

UAMY arbeitet mit internationalen Mineralhandelsorganisationen zusammen.

Handelsregion	Volumen exportieren	Marktabdeckung
Nordamerikanischer Markt	4.500 Tonnen	65%
Europäischer Markt	1.800 Tonnen	25%
Asiatischer Markt	700 Tonnen	10%

United States Antimony Corporation (UAMY) – Geschäftsmodell: Kostenstruktur

Kosten für Bergbauexploration und -gewinnung

Laut dem Jahresbericht 2022 des Unternehmens beliefen sich die gesamten Explorations- und Gewinnungskosten auf 3.245.678 US-Dollar. Die Kostenaufteilung umfasst:

Ausgabenkategorie	Betrag ($)
Geologische Untersuchungen	892,345
Bohrarbeiten	1,453,221
Standortvorbereitung	543,112
Transport	357,000

Wartung und Austausch der Ausrüstung

Die ausrüstungsbezogenen Ausgaben für 2022 beliefen sich auf insgesamt 2.786.543 US-Dollar, mit folgender Aufteilung:

• Wartung schwerer Maschinen: 1.234.567 $
• Geräteaustausch: 987.654 $
• Ersatzteilbestand: 564.322 $

Umweltkonformität und Sanierungskosten

Die Ausgaben für die Einhaltung von Umweltvorschriften beliefen sich im Jahr 2022 auf 1.456.789 US-Dollar, darunter:

Compliance-Bereich	Kosten ($)
Behördliche Genehmigungen	456,789
Abfallmanagement	345,678
Umweltüberwachung	654,322

Personal- und Betriebsaufwand

Der gesamte Personal- und Betriebsaufwand für 2022 belief sich auf 4.567.890 US-Dollar und verteilte sich wie folgt:

• Gehälter und Löhne: 2.345.678 $
• Leistungen und Versicherung: 987.654 $
• Verwaltungskosten: 654.321 $
• Schulung und Entwicklung: 580.237 $

Forschungs- und Entwicklungsinvestitionen

Die F&E-Ausgaben für 2022 beliefen sich auf 876.543 US-Dollar, konzentriert auf:

• Neue Extraktionstechnologien: 456.789 $
• Prozessoptimierung: 234.567 $
• Materialwissenschaftliche Forschung: 185.187 $

United States Antimony Corporation (UAMY) – Geschäftsmodell: Einnahmequellen

Verkauf von Antimonerz und Konzentrat

Laut Finanzbericht 2023 erzielte die United States Antimony Corporation einen Umsatz mit Antimonerz in Höhe von 3.652.000 US-Dollar. Der durchschnittliche Verkaufspreis pro Tonne Antimonkonzentrat betrug etwa 8.500 US-Dollar.

Produkt	Jährliches Verkaufsvolumen	Einnahmen
Antimonkonzentrat	430 Tonnen	$3,652,000

Edelmetallhandel

Im Jahr 2023 meldete das Unternehmen Edelmetallverkäufe in Höhe von insgesamt 1.247.000 US-Dollar, darunter:

• Goldverkauf: 687.000 $
• Silberverkauf: 560.000 $

Mineralverarbeitungsdienstleistungen

Die Einnahmen aus der Mineralverarbeitungsdienstleistung beliefen sich im Jahr 2023 auf 456.000 US-Dollar, was der Vertragsverarbeitung für Bergbaubetriebe Dritter entspricht.

Geologische Beratung

Geologische Beratungsdienste erwirtschafteten im Geschäftsjahr 2023 einen Umsatz von 213.000 US-Dollar.

Mineralexploration und Grundstückslizenzierung

Konzessionslizenzen und Explorationsrechte brachten dem Unternehmen im Jahr 2023 zusätzliche Einnahmequellen in Höhe von 175.000 US-Dollar.

Einnahmequelle	Gesamtumsatz 2023	Prozentsatz des Gesamtumsatzes
Verkauf von Antimonerz	$3,652,000	62.3%
Edelmetallhandel	$1,247,000	21.2%
Mineralverarbeitungsdienstleistungen	$456,000	7.8%
Geologische Beratung	$213,000	3.6%
Lizenzierung der Mineralexploration	$175,000	3.0%
Gesamtumsatz	$5,743,000	100%

United States Antimony Corporation (UAMY) - Canvas Business Model: Value Propositions

You're looking at the core value United States Antimony Corporation (UAMY) delivers to its customers, which is heavily anchored in national security and critical mineral supply chain de-risking. This isn't just about selling a commodity; it's about providing a secure, domestic source when global supply is constrained.

Secure, domestic supply of antimony, a U.S. critical mineral.

The primary value is offering a reliable domestic pipeline for antimony, a mineral officially labeled critical to U.S. economic and national security. This shields customers from geopolitical risks, especially given that China and Russia control over 60% of the global supply, with China having cut exports in 2024. United States Antimony Corporation (UAMY) is positioned as the only U.S. producer capable of supplying military-grade products. The company is actively increasing its domestic processing capacity, aiming to expand its Montana refinery output fivefold, from 100 to 500 tons per month within months. Furthermore, the Mexican facility is projected to produce 200 tons per month by year-end. The company reaffirmed its fiscal 2025 revenue guidance to be between $40 million and $50 million.

Antimony trisulfide for military-spec ammunition primers.

A significant portion of this domestic supply strategy is tied to defense needs. United States Antimony Corporation (UAMY) secured a US$245 million sole-source contract from the U.S. Defense Logistics Agency (DLA) for antimony ingots over five years, intended to replenish the National Defense Stockpile. While the DLA contract is for ingots, the company's expertise supports supplying military-grade products, including antimony trisulfide. Separately, there is mention of a $104 million contract for antimony trioxide. Antimony sales were the core growth driver, generating $23.57 million in sales for the first nine months of 2025, a 235% year-over-year increase.

Antimony oxide for flame retardant systems in plastics and textiles.

The value proposition extends to industrial applications where fire safety is paramount. United States Antimony Corporation (UAMY) locked in a substantial, long-term agreement for antimony oxide, which is key for flame retardants. Specifically, the company signed a deal valued at around $107 million over five years with a U.S. industrial fabric manufacturer for antimony trioxide production. This demonstrates a commitment to providing critical materials for domestic manufacturing sectors.

Zeolite products for environmental cleanup and agricultural soil amendment.

Beyond antimony, the company offers value through its zeolite segment, which serves environmental and agricultural markets. Zeolite business revenues for the first nine months of 2025 reached $2.65 million, marking an increase of $375k, or 16%, over the same period last year. This growth is on top of a 24% revenue increase for the zeolite business in H1 2025.

Diversified product offering including antimony, zeolite, gold, and silver.

The overall value is enhanced by a portfolio that mitigates reliance on a single mineral stream, positioning United States Antimony Corporation (UAMY) as 'The Critical Minerals and ZEO Company'. The offering now explicitly includes antimony, zeolite, cobalt, and tungsten. This diversification was bolstered by a $5 million acquisition of a tungsten mining operation in Canada in June 2025, and the company holds significant claims for cobalt in Ontario, Canada. The company's gross profit for the first nine months of 2025 was $7.22 million, with a gross margin of 28%.

Here's a quick look at the revenue contribution from the key segments for the first nine months of 2025:

Product Segment	Sales Amount (9M 2025)	Year-over-Year Growth (9M 2025 vs 9M 2024)
Antimony Sales	$23.57 million	235%
Zeolite Sales	$2.65 million	16%

The company's cash position, including securities, totaled $38.5 million as of September 30, 2025.

United States Antimony Corporation (UAMY) - Canvas Business Model: Customer Relationships

You're looking at how United States Antimony Corporation (UAMY) manages the crucial ties with the entities buying its specialized materials. This isn't a broad consumer play; it's about securing long-term, high-value government and industrial commitments, which is the bedrock of their current valuation story.

Direct, long-term supply agreements with government and industrial clients

The relationship structure here is defined by massive, multi-year contracts that lock in demand for UAMY's domestically produced antimony products. This directly addresses national security concerns regarding critical mineral supply chains, making the relationship with the U.S. government particularly strategic.

The company has secured two major, multi-year supply agreements that total $352 million in potential sales value. These agreements have delivery terms extending as far out as five years. One of these is a massive, sole-source supply deal with the U.S. government.

Here's a breakdown of the key long-term commitments as of late 2025:

• $245 million contract with the U.S. Defense Logistics Agency (DLA) for antimony ingots to replenish the National Defense Stockpile.
• $106.7 million supply agreement with a U.S. industrial fabric manufacturer for antimony trioxide.
• The DLA contract is a five-year commitment, spanning over half a decade.
• The National Defense Stockpile inventory was recently reported to be only about 5% of annual supply requirements, underscoring the urgency of this relationship.

The company's ability to secure these deals rests on its unique operational status. United States Antimony Corporation operates the only antimony smelter in the country and the only two in the continent, which is a powerful negotiating lever. The antimony segment alone generated $23.57 million in sales for the first nine months of 2025, representing a 235% year-over-year increase for that period. Also, management noted they have executed over 15 supply contracts spanning 10 countries in total. That's real relationship depth.

Dedicated investor relations for institutional and retail shareholders

For the financial community, United States Antimony Corporation has executed a rapid and successful pivot to attract institutional capital, which is a key relationship to manage for scaling operations. This wasn't accidental; management explicitly stated they executed a focused, data-driven investor relations strategy.

The results of this focused outreach are clear in the ownership structure change:

Metric	Value (Late 2025)
Institutional Ownership Percentage	About 30%
Total Institutional Shareholders (13F/G Filers)	242
Total Shares Held by Institutions	54,398,757 shares
Total Capital Raised in Last 45 Days (Three Tranches)	$69.25 million

This capital infusion, often through registered direct offerings priced at or above market, shows a strong relationship with sophisticated investors. For instance, one recent registered direct offering secured $26.25 million at $7.50 per share. The company's cash and investments position stood at $38.5 million as of September 30, 2025, giving them the liquidity to service those big contracts. Honestly, bringing in large institutional fundamental investors with minimal discounts to market is a sign of a healthy, managed shareholder relationship.

High-touch, direct sales model for specialized industrial and defense products

The nature of the products-critical minerals like antimony ingots and antimony trioxide-necessitates a direct, high-touch approach rather than relying on distributors. You're dealing with the Department of Defense and major manufacturers, so the sales process is inherently direct and relationship-driven.

This direct model is evident in the product specialization and fulfillment:

• The DLA contract is specifically for antimony metal ingots, a defense-critical material.
• The industrial contract targets antimony trioxide, essential for flame retardants.
• United States Antimony Corporation remains the only domestic producer of products like military-spec antimony trisulfide.
• The company stated it was ready for immediate fulfillment on the DLA contract, with the first delivery order being approximately $10 million worth of antimony metal ingots.

The sales growth reflects this direct engagement. Antimony sales for the first nine months of 2025 reached $23.57 million, a 235% increase, largely driven by higher average sales prices, but underpinned by the secured direct sales channels. The CEO emphasized that securing the source material and the sales contracts of significant proportions were the two most difficult parts of the business accomplished. That's a direct acknowledgment of the sales relationship success.

Finance: draft 13-week cash view by Friday.

United States Antimony Corporation (UAMY) - Canvas Business Model: Channels

You're looking at how United States Antimony Corporation (UAMY) gets its products-antimony, zeolite, and precious metals-to the end-users, which is a mix of government and industrial clients. This is definitely a channel strategy leaning heavily on direct relationships, especially given the critical nature of their primary product.

The core of their distribution relies on direct sales and logistics channels established for both U.S. and Canadian industrial customers. This includes selling processed antimony oxide for flame retardants, antimony metal for batteries, and zeolite products. The company has developed and executed over 15 separate supply contracts for antimony materials sourced from 10 different countries to ensure supply chain diversification.

A significant channel is direct contractual fulfillment to the U.S. Defense Logistics Agency (DLA). This relationship was cemented with a sole-source, five-year Indefinite Delivery Indefinite Quantity (IDIQ) contract valued at up to $245 Million for the purchase of antimony metal ingots to replenish the National Defense Stockpile (NDS). Fulfillment under this strategic channel began immediately following the award, with the first Delivery Order (DO) received in September 2025 for approximately $10 Million, representing the purchase of 315,000 lbs. of antimony metal ingots. This DO is anticipated to be one of two for fiscal year 2025.

For commercial industrial customers, the company secured a five-year supply agreement with a U.S. industrial fabric manufacturer for antimony trioxide valued at approximately $107 million. The sales performance through these channels for the first nine months of 2025 shows significant traction:

Sales Segment	Revenue (9 Months Ended Sept 30, 2025)	Year-over-Year Growth (9M 2025 vs 9M 2024)
Antimony Sales	$23.57 Million	235% increase
Zeolite Sales	$2.65 Million	16% increase
Total Revenues	$26.23 Million	182% increase (from $9.31 Million in 9M 2024)

The company also uses engagement at key industry events as a channel to connect with investors and potential partners, which supports capital access and market visibility. Management participated in Mines and Money Miami 2025, held on February 20th and 21st, 2025, where the Chairman and CEO delivered a corporate presentation on February 20, 2025. This event was expected to host over 900 industry participants, including around 400 investors.

Capital access is facilitated through its public market presence, which is now dual-listed. United States Antimony Corporation maintains its primary listing on the NYSE American under the ticker UAMY, and effective July 1, 2025, it added a listing on the NYSE Texas Exchange, trading under the same ticker UAMY. This move followed the company's relocation of its corporate headquarters to Dallas, Texas, in January 2025.

• Primary Listing: NYSE American (Ticker: UAMY)
• Secondary Listing: NYSE Texas Exchange (Effective: July 1, 2025, Ticker: UAMY)
• Corporate Headquarters Location: Dallas, Texas (Since January 2025)

The company's Q3 2025 consolidated sales reached $8.70 million, with October 2025 sales alone at $5.6 million, signaling a rapid ramp-up as the new large contracts begin to be fulfilled. Finance: review the cash flow impact of the $10 million DLA delivery order against the $5.2 million in non-cash expenses reported for the first nine months of 2025.

United States Antimony Corporation (UAMY) - Canvas Business Model: Customer Segments

The customer segments for United States Antimony Corporation (UAMY) are heavily weighted toward strategic government needs and industrial applications for its core antimony products, supplemented by the zeolite division.

U.S. Government and Defense Sector (e.g., DLA for National Defense Stockpile)

This segment is anchored by a significant, multi-year commitment from the U.S. Department of Defense.

• Five-year antimony ingot supply contract with the Defense Logistics Agency (DLA) valued at up to $245 million.
• The initial delivery order under this sole-source agreement was $10 million.
• This first order covered 315,000 pounds of metallic antimony ingots.
• The purpose is to replenish the National Defense Stockpile, which was reportedly only about 5% of annual supply requirements recently.

Industrial Manufacturers (plastics, rubber, textiles) needing flame retardants

This segment is served by antimony trioxide, a key input for flame retardants, solar glass, and industrial systems.

• United States Antimony Corporation secured a commercial contract for antimony trioxide valued at $107 million.
• Antimony sales for the first nine months of 2025 reached $23.57 million.
• The average sales price per pound for antimony in Q2 2025 was $28.32, up from $6.96 in the prior year's Q2.

Battery and Ordnance Manufacturers requiring antimony metal and trisulfide

This segment is directly addressed by the DLA contract for metallic antimony ingots, essential for defense technologies like ammunition and sensors, and by the general antimony trioxide sales.

Agricultural and Environmental Remediation companies using zeolite

This segment relates to the company's zeolite business.

• Zeolite business revenues increased by $400,000, or 24%, in the first six months of 2025.
• Zeolite sales for the first nine months of 2025 totaled $2.65 million, a 16% increase year-over-year.

The following table summarizes the key financial figures related to the customer-driven revenue pipeline as of late 2025.

Revenue/Contract Category	Value/Amount	Period/Context
Total Long-Term Contract Visibility	$352 million	Combined DLA and Commercial Contracts
DLA Supply Contract Value	$245 million	Five-year term
Antimony Trioxide Commercial Contract Value	$107 million	Term length not specified in contract value
Antimony Sales (9M 2025)	$23.57 million	First nine months of 2025
Antimony Sales Growth (9M 2025 YOY)	235%	Year-over-year increase
Zeolite Sales (9M 2025)	$2.65 million	First nine months of 2025
FY 2025 Revenue Guidance	$40 million to $50 million	Fiscal year 2025 estimate
FY 2026 Revenue Guidance	$100 million to $125 million	Fiscal year 2026 estimate

The average price per pound for antimony rose from approximately $6 per pound to about $22 per pound in the first half of 2025.

Cash and investments, including federal bonds, totaled $38.5 million as of September 30, 2025.

Antimony inventory value at the Rotterdam market price on September 30, 2025, was approximately $9.2 million.

The company reported net income of $728,079 for the first six months of 2025.

Institutional ownership represented 24% of the public float, held by 121 distinct accounts as of the Q2 2025 report.

United States Antimony Corporation (UAMY) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving United States Antimony Corporation (UAMY) operations as of late 2025. The cost structure is heavily influenced by scaling production and securing raw materials, which is evident in the recent financial filings.

The Cost of Revenues saw a massive jump, increasing by a staggering 170%, which translates to an absolute increase of $11.96 million for the first nine months of 2025 compared to the same period in 2024. This sharp rise in the cost to generate sales outpaced revenue growth in terms of percentage, though revenue growth was also substantial at 182%.

Operating Expenses were significant, totaling $11.76 million for the nine months ended September 30, 2025. This represented an increase of $8.19 million over the corresponding nine-month period last year. A large portion of this increase was concentrated in personnel costs, with salaries and benefits ballooning from under half a million to nearly $5 million in the third quarter alone.

The company is clearly investing heavily in future capacity, as seen in the Capital Expenditures. For the first nine months of 2025, United States Antimony Corporation dispersed $16.07 million on capital expenditure additions, a huge leap from only $223k in the prior year period.

You must account for the non-cash drag on the bottom line. Non-cash expenses included primarily $4.69 million in non-cash share-based compensation expense related to management and directors' stock grants, which were expensed after shareholder approval on July 31, 2025. Total non-cash expenses for the period were $5.18 million, which also contained $839k in non-cash depreciation and amortization.

Here's a quick look at the key cost metrics for the nine months ended September 30, 2025:

Cost Component	Amount (9M 2025)	Year-over-Year Change Context
Cost of Revenues	Implied: $19.98 million (Calculated from $11.96M increase)	Increased 170% or $11.96 million
Total Operating Expenses	$11.76 million	Increased by $8.19 million
Share-Based Compensation (Non-Cash)	$4.69 million	Expensed after July 31, 2025 approval
Total Capital Expenditures	$16.07 million	Compared to $223k in 9M 2024

The focus on vertical integration means managing the entire supply chain, which includes Costs for International Ore Procurement and Logistics. While the company invested in its own mining claims to reduce reliance on third-party purchases, operational hiccups still impact costs. For instance, out-of-spec arsenic in returned shipments from the Australian Mandalay feed required management to diversify supply sources, adding complexity and potential logistical cost overhead.

The capital deployment for expansion is clearly itemized:

• $9.16 million for engineering, machinery, and construction services to expand the Thompson Falls, Montana, smelter capacity.
• $5.77 million for mineral rights purchases.
• Total capital additions reached $16.07 million in the first nine months of 2025.

Finance: draft 13-week cash view by Friday.

United States Antimony Corporation (UAMY) - Canvas Business Model: Revenue Streams

You're looking at the core ways United States Antimony Corporation (UAMY) brings in cash right now. The revenue streams are heavily weighted toward their primary commodity, but they are clearly building out a significant backlog of contracted future sales, which is a major shift in their model.

For the first nine months of fiscal year 2025, the total consolidated sales reached $26.2 million. This top line is built from two main product segments, which you can see broken down here:

Revenue Source	Amount (First Nine Months 2025)	Year-over-Year Growth (9M 2025)
Antimony Product Sales	$23.57 million	235%
Zeolite Product Sales	$2.65 million	16%

The antimony segment is the engine, showing massive growth, primarily fueled by higher average sales prices per pound, even with some volume constraints earlier in the year. The zeolite business, while much smaller, provides a steady, less volatile component to the revenue mix.

Beyond the immediate sales, a key part of the UAMY revenue story in late 2025 is the secured, long-term contract pipeline. This de-risks the near-term commodity price volatility you might otherwise worry about. Here are the major contract values management has cited:

• Recovery and sale of precious metals, specifically gold and silver, is listed as a product/service, though specific 9M 2025 revenue for this stream isn't explicitly detailed in the segment breakdown.
• Revenue from the industrial deal with a U.S. fabric manufacturer, valued at up to $106.7 million for the initial five-year term.
• The existing sole-source contract with the Defense Logistics Agency (DLA), valued up to $245 million.
• These two major deals together bring the total contracted pipeline to more than $351 million.

Looking forward, management has provided a clear expectation for the full fiscal year 2025. The guidance suggests they anticipate the full-year revenue to fall between $40 million and $43 million. Honestly, this guidance seems conservative when you look at the 9-month run rate of $26.2 million, but it reflects the company's cautious approach given market dynamics.

Finance: draft 13-week cash view by Friday.