United States Antimony Corp (NYSEAMERICAN: UAMY) has upped its fiscal 2026 revenue guidance by 25 per cent due to an increasing rate of enthusiasm about its mining operations in Montana.
In an update on Thursday, the refining and processing company explained that material being mined at Montana’s Stibnite Hill mine was suitable for a high rate of cash flow generation. The mine site conveniently resides next to the Thompson Falls antimony smelter: one of only two facilities of its kind in the North America.
The combination of new antimony material being produced from Stibnite Hill and ore being procured from global sources that has either arrived in Mexico or is on its way has prompted a US$25 million boost in revenue guidance. A total of US$125 million is expected during the 12 month period ending Dec. 31, 2026.
“Although the total quantities of material planned to be mined on a daily basis are not yet large [9 tandem dump truckloads totalling 239 tons to-date],” US Antimony elaborated, “the high grade of the stibnite allows for a profitable operation without the long lead times and large capital investment associated with plant construction and mine development that normal low grade/high tonnage operations typically require.”
This material is capable of being refined to meet military specifications, US Antimony highlighted. Operations at Stibnite Hill will be on hold for the winter and resume in the spring.
“This announcement today is a ‘game changer’ for all USAC shareholders,” said CEO Gary C. Evans. “When we began operations on Stibnite Hill earlier this year, we anticipated finding antimony deposits, but nothing like we are currently experiencing.”
Evans added that profit margins from mining the company’s own materials are expected to be three times higher than they would be sourcing elsewhere. He boasted that the ongoing smelter expansion that started in May was occurring at an ideal time. Mining activity in Montana and Alaska will enable the company to become the only fully integrated antimony miner outside of China.
Antimony just hit $51,500/ton — up 300% YTD.
per https://t.co/xWMAmPkM2XGlobal production collapsed to 83k tons, China still controls half and defense now eats 18% of global supply.$UAMY holds the only two operating smelters in the Western Hemisphere and just raised FY26… pic.twitter.com/hqJF07BNc4
— Montana Magnet (@USAC_Bull) October 30, 2025
Read more: NevGold Expands Gold-Antimony Potential at Limousine Butte in Nevada
Analysts wonder if $UAMY is overvalued
Despite the bullish outlook among Evans and other leaders, US Antimony’s recent decline on the NYSE American sounded alarm bells for many investors.
Within the past five days the stock has slid by approximately ~30 per cent, putting an end to a seemingly unstoppable rally that had been ongoing since mid-2024. Certain market observers are concerned about the long-term outlook for the company and its current financial position.
“United States Antimony’s financial scenario appears unsettling,” commented StocksToTrade writer and educator, Tim Bohen, on Monday.
“The company is grappling with a negative EBIT margin reported at -3.9 and a gross margin of 25.9,” he added. “These figures suggest that despite selling a significant volume of goods, the costs incurred are substantial, diminishing the potential for profit.”
Despite this negative sentiment, Bohen also said UAMY stood on “relatively firm ground” with an ability to meet short-term obligations.
Furthermore, an article from Simply Wall Street on Oct. 25 determined that the stock was overvalued. The recent drop is arguably a correction.
Nonetheless, US Antimony’s influential position in the antimony market has many observers bullish in the long-term. Chinese export restrictions don’t appear to be going anywhere and demand in the United States persists. The company is well-positioned should supply chain challenges continue.
“Once in a while, a tiny, overlooked company wanders into the center of a geopolitical story,” said one venture capital fund creator last week. “That’s United States Antimony [$UAMY]: the only U.S. antimony smelter, suddenly sitting at the intersection of China’s export curbs, DoD stockpiles, and a real push to rebuild critical-minerals supply chains.”
Junior mining companies active in the American sector, such as NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) and Locksley Resources Ltd (OTCMKTS: LKYRF) (ASX: LKY) (FRA: X5L), could also benefit significantly from the ongoing antimony shortage.
Read more: NevGold targets U.S. critical mineral supply chain with new antimony-gold find
Larvotto rejects takeover offer
US Antimony aimed to extend its foothold into Australia this month, but was unsuccessful.
Despite the rejected takeover bid for Larvotto Resources Ltd (ASX: LRV) (FRA: K6X), the American antimony miner and smelter operator still retains a 10 per cent stake in the company.
“After considering the offer in detail and taking into account the advice of our independent advisers, Larvotto’s board of directors unanimously formed the view that the offer materially undervalues Larvotto and has informed USAC accordingly,” Larvotto stated.
United States Antimony will remain focused on its operations in Montana, Alaska and Mexico for the time-being. Fulfilling demands from a recently secured US$245-million-dollar antimony ingot supply agreement with the Pentagon and completing the smelter expansion are key priorities at the moment.
Read more: NevGold delivers major growth at Idaho gold project
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