U.S. Antimony provided an update on mining activities today.
The company expects to use antimony ore from its own operations for the first time in 2026.
August has been good to United States Antimony (NYSE: UAMY) stock so far. On Monday and Tuesday, shares of the mining stock closed higher than where they ended during previous market sessions. And the trend continued today as investors responded bullishly to management's update on the company's mining activities.
Shares of U.S. Antimony closed 4.3% higher from yesterday's close, retreating from an earlier rise of 6.5%.
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In a thorough update of its mining activities in Alaska, Montana, and Canada, U.S. Antimony also stated that while it continues to work through its source of antimony material that it has procured from foreign sources, it projects that "2026 will be the first time we begin actually utilizing our own mined antimony ore to fulfill the contracted needs of our customers."
Addressing the merits of using antimony sourced from the company's own operations, Joseph Bardswich, U.S. Antimony executive vice president and Chief Mining Engineer, stated in the company's press release that "Company mined antimony provides assurance as to composition, and supply, simpler logistics and a lower cost that allows for overall improved margins."
With respect to recent activities, U.S. Antimony reported that it's advancing operations at Nolan Creek in Alaska, where it expects to begin mining for antimony and gold later this year. In Montana, where it conducts antimony mining operations, U.S. Antimony reported that it had resumed the excavation and trucking of material to the Radersburg Mill in late July after implementing safety measures at the request of the Montana Department of Environmental Quality.
Today's insight into the mining activities of U.S. Antimony was welcome news for shareholders as the company seems to be making steady progress toward antimony production. While the growth potential of this mining stock is considerable, given the limited number of U.S.-based antimony producers, only those with higher risk tolerances should consider taking positions, as the company remains unprofitable.
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Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.