United States Antimony (UAMY) 12 Nov 242024 Q3 Earnings call transcript

Greetings. Welcome to the United States Antimony Corporation Third Quarter and 9 Months Ended September 30, 2024 Operating and Financial Results Meeting Webcast.[Operator Instructions] please note that this webcast is being recorded. I will now turn the webcast over to your host, Gary C. Evans.

You may begin.

all quarter for X/XX and financial call. thank the in operational and conference third company's X you, of listening you to and Thank months ending today of members I've other a be speaking. number with got me that will management and who's Financial me; Chief Rick Co-CEO Bardswich, Relations Manager. Jonathan and Miller, Senior Joe President a President and of Sales our Investor Vice with Director a and Officer; Isaak our Vice Global

our financials start the we'll Rick by release that I were And out on will Form give filed the think I you more go believe reported you do a start letting Rick, want press which just out? morning. this lot over we information. to detailed XX-Q,

few metrics each businesses Thanks, few areas then our Gary. key of a going and Sure. our cash our flow. I'm and a balance consolidated sheet in review of Sure. then to results and

year, until for of antimony This $X.X primarily increase I'll primarily the an increase costs of effective price year, salary and of higher X project for about sales expenses compensation about primarily months million expense, X of the business, XXX% volume to other year, first with Sales a to I'll costs, was The more $XXX,XXX related Zeolite $XXX,XXX partially and Canada, maintenance this $X.X of last efficiencies So of $X.X annual year's SEC mining last acquisitions with related XXXX, due and lesser and the higher Last sales increase increase compared start board $XXX,XXX offset volume meeting and million which the incurred improved higher this is not volume, costs price. fourth an discussing government this related to that $X.X were and improvement of technical $XX,XXX XXXX. initiatives fee is quarter and results efforts. in in of report million stock been the claims earlier over end This stages became and of including purchasing of but higher Alaska expenses Gross operations. towards relate our of more for year, later. was last XXXX. with the extent, this was by increase to demand the profit for increase the to $XXX,XXX BRZ, year. months which project to the first year. of compared continuing expenses to X SEC Zeolite that which months of This our first we've Zeolite Operating and throughout sales an million talk were were was consolidated sales with year. funding of XX% increase noncash potential

Next, our let's metrics of few businesses. each to a related review

first experienced to Sales year are team business. produce to higher gross year months and have gross continued running year with year the volume year achieving from we're great antimony than compared of facility this for The business and sales year. who our last profit. profit a products First, the due higher Montana, this prior by increased after our in to high-quality efficiencies efficiently the X doubled and antimony year's our margins gross XX% last gross profit more over

factors. market Our to average is which antimony sales was compared X the this low price due months $X.XX, price, per year primarily pound first the X for of to

see average lowered with year pound, return, of to in First, sales results. relate called tolling. as but the still is sales our a customer-owned of you This metal, this our which X/X a had per price our process nice ore antimony nearly processing can

in price price per years. increase similar to tolling, the in sales line remove from prior our market with you sales pound If increased the

mid-July to planned pound with a had from per some of fourth our the mid-May beginning lowered our price of XXXX, now third sales of quarter bump sales. seeing a quarter. In supplier addition, concentration lowered XXXX sales our the average of antimony at the for and which higher shutdown in antimony months tolling X We're

Next, for by the increased this loss over operations profit from business first Gross zeolite year prior last decreased $XXX,XXX year our was Sales X business. zeolite of by to our compared year. the XX% months from by worse and $XXX,XXX.

and improved team XXXX. to result our safer which time. led the the These facility, higher enhance customer have of third environment included run of production the the processes, operations the production quarter and our in delivery facility. This timing, We a has Zeolite product to at safety throughput, high-caliber during we of reliability are improvements business working and Zeolite equipment our increased improvements continue at

However, improvements and the this related other which maintenance costs the results cost, be Zeolite increased in decrease to quarters. with operational operational can future seen with related increased progress a segment came should losses. and and These in begin costs

also increased the feed to of facility material us to mine grow product in saw in Zeolite supply we business, from timely animal of our zeolite substantially And delivery our continue Overall, hasn't at allow happened customers. years. these improvements increased River to During the Bear volume our prior sales our quarter, sector. we zeolite which third some our

Mexico. in Next, our subsidiary

Mexico prior we in we've on our As discontinued and March discussed operations on XXXX. calls, XX, closed

antimony million months this $X.X X generated of some year, Mexico, revenue. sold the of in which of first inventory the we During

even year. a X closure, these However, for higher our first $XXX,XXX in with the sales right. loss this Mexico generated of of discontinued the months All still operations and

Next, balance including capital through few receivables inventory, We go a and payables. and our working comparatively, cash sheet improved flow in items. let's stabilized levels or

planned mentioned supplier earlier. I shutdown, a antimony as had Our

shipments with quarter. increased the As vendor increased them third payables from later a result, in

technical our was SEC December report our reserves accomplished third Alaska, continue and zeolite $XX.XX progress in at million, in $X.X We a XX, which equivalents we sold million XXXX, September purchased summary balance claims the an cash quarter. of make cash residential lot XX, increase is Canada Overall, mineral Our our with on Idaho, minerals, suppliers international XXXX. to to from in in Idaho, various are and for some in U.S. of meet zeolite concentration metals to to funding antimony a of continue and government facility ore regarding many and and officials government a and the of lease sales Phillipsburg, operation the contacted starting departments and purchase see samples Montana. and in ore of antimony use home executed other

initiatives it continue improve with value. turn Gary. our to over will We shareholder you, great other these and company of I'll our to increasing mission back on

Rick. you, Thank

for management talk well -- the is high plant VP also by Let's earlier had last as done also production that years as blasted we've office a and And the General was has we company and reports XX those XX% cost that And that manager. and that the little drilled for was did between us which you X fact, the current something at the includes well test year we which we of make something this very enough that We in the zeolite at something and is will sure saw that never the note -- XX% our also our numbers, operation. about expense represented last the run BRZ, to being holes year-to-date reserves $XXX,XXX, we've superintendent when prepared. is about done quarters, we sufficient in X/XX done, job company with badly holes, important did mining bit a we needed. our team, the new as as It's to reserve Manager -- phenomenal rates. that X drill had that which material an time never

have associated in as that's that CapEx We do in spending that when are, win-win gets a statement, a loader brought at Problems capitalized. situation been was spent that it's to in XXXX in think, lot which been had well note but large spent with agencies governmental of MSHA fix with those we've at degree. income hit to the money But should the to past. important year crews $XXX,XXX, thing we're that to balance, BRZ, this X, having X to been we that it us spend done. other is We a years our past. right that line, continue as and you blasting expensed this had at It's our regulate We've We the a also X, a cash for production So and testing. CapEx fixed understand $XX,XXX. bought we never front-end are ago. look expenses I

So now typically We've were the is business increased XX, running We're deliver. caught now sales. BRZ behind. sales, all sale. for can up We which days point of XX with

soliciting out October. sale of competitor see ship we're you'll did the up few We behind felt ours of did and to increases. XXXX new all We sufficient full, I is like month the not new canceling in this customers that work ended some acquisition. business. to continue past think on warehouse animal to And we Our reserves the acquisition an we was because warrant throughout a

another that But goal do acquisition we're by we we sales. and on really And is our year-end. so working to hope able conclude at to be our BRZ possibly expand announce have that

we've only that to markets bringing nuclear in X and Zeolite maybe hard a the people. with the dedicated been stockpiling convince been should for own X salespeople, our that we've government not on entering we're in markets, doing also never but before, new of additional U.S. trying So be We're they or process disaster. we're working

around talking are water the -- facilities to also about we So government the country. treatment

fixed in you'll like now now order, think that's forthcoming. I So think expand we process see a machine, running can our and we I quarters what in got that fine-tune sales,

give going which understand world management on think, has in So let's and it's release really now our I today eye-opening, to And to for little happened, a and in been jump as really to it's to -- Board team tried color our more I the what's dramatic. is what market. antimony, press everybody

on recent tightening. market all the foreign over read companies, vice many of made become refined produces mined purchase The particularly harder world's of that and about came to the that grip an the I'm is that in made says almost of refining China. semiconductor most steps these new supply and is series stronger. mining in So crucial considerably of was other today's going of In a minerals, earth tight government minerals has to out solidify weeks, minerals article paragraphs rare Chinese China's advanced materials. the to dominance. even for restrictions China manufacturers couple Already, yields and that minerals a raw it China mainly that technologies ingredients grip today from there The

exporters rare in the step-by-step of receive given authorities of Beijing authority which with chains. This provide tracing has greater of over how must supplies. used As detailed scarce shipments earth are supply minerals October X, overseas companies Western

I our way. think this to before, no would talked say, and goal come supply. XX X said probably I sourcing in XX tell been of, different none of when antimony difficult It's seeing but of our a spades. team We've we've countries ever in are I this or a new long in we've parties less in you I in morning, process, countries spanning XX release that that something it's it our We X than XX whittled And countries sources. down our to goal different done different has

samples it's antimony We very of makeup is understand important analyzing to different are in of And those samples. We're those of meteological different receiving the supplies. world. this the areas rock that

our be worry furnaces We it or gold that all. and of may affects how our amount have the about of antimony, in other certain a to certain contaminants amount systems,

to now start a contracts it's of through. go bringing to We're point have process we at So negotiating that material. the

lot only are a then it do As use lot XX% Thompson we got we to hard could the we're but in -- material, fraudsters Falls. you market. seeking at capacity yesterday, very know, of so There's And and right. we material and that running a brokers, at been of of

As crop you of triples can -- world imagine, everybody in comes the price, woodwork. when in the something out every

parties. careful So with that making making and inspections, own we're our We're to on shore. sure very the very, U.S. we've had be lands dealing material we're

hopefully, I may to by can go material in or processing think you'll year-end be it Mexico. see, that we

final yet. decision made We have that not

have own our So experience, us for apparent became we and vast to a also antimony, it's contacts. XX, -- that they of our outsourcing we I in we company have mean as the of experience, expertise supply. lot XX had we're years have very and mining

not been a expeditiously. be areas have high-speed something when mine antimony $X a where trying been can going found, We're has to difference produced. to it's We're product. already we already you $XX as good been exploring. And at antimony versus you has that race So on mined in back sales deposits out find can big

we that riverways, made to to these we've were that So Montana. that material anywhere sure close can roads, properties get railroads,

Phillipsburg. in facility flotation a have We

We smelter need in business. Falls, have a Thompson and we

know good So with are some we that, we in areas.

We government's there's critical captured not of minerals fortuitous a only great XX it's the involved. antimony, been or have and And list. fortunately lot There's leases. some so have We competition. other on

in I involved think we're X today.

Joe material a in So these pretty And hopeful I'm in up going actually just producing for activities to on the a talk mining we're about be let minute that XXXX, today. track side. fast here leases which companies is we'll picking

of feeling go discussions private that we're weather, are of where that fast this worry track. permits, moving and and Joe obviously of a I'll we company. so his then with detail you'll overview a government operations, to into we're the but and about about Canadian better some to greater this get very we Joe? have going And We Alaskan have on having after gives our have

you. Thank

alternatives state like anti-mining Environmental The to avoid lands have avoiding run populations private and We've lands go et Act for requirements threatened Perpetual, that. into and National areas permitting like summarizing been objectives that want NEPA for to lands. and federal and So runniness our the jurisdictions cetera. on other anti-mining are We acquisition. and species, things people on Policy habitats, property then avoiding

and readily be and they general a to Mexico. there Thompson preference other are transportation for a complex are which even major as surface common preference byproduct Antimony to facility. in take in mines, minerals means Our not not and in to potential metallurgical and for critical ore will exception a mining, short-term probably mining and deposit, We versus is available A supply, because Madero a do is generally Falls access a to possible access short not critical will have large a to a permit Phillipsburg, bring new that's underground to discovery construct mineral solution that but long a of time a market. body. time

be permitting high-grade crushing disposal the on $X, a that range. deposits, feasible. tailings the with which separation CapEx upgrading at at the factors antimony advantage Antimony then to it, a infrastructure, gravity associated antimony at cobalt talking be copper has can advantage. costs Proximity of focusing $X, of no Therefore, and and would ore and antimony $XX, an by be chemicals, large up nickel real required grinding, there's we're We're and has XX% at versus also would So no as only. grinding cetera. to $XX, XX% concentrate et in have the existing copper trucking

truck longer others. at than distance to it's to So feasible compared

high-grade That In may other River believe off the of available access some terms what we an Good copper is of we needs have done minerals. lately, in that McLaren conducive for area in Denali Creek be antimony It easy top permafrost, Alaska, the very road without the the Highway. harm on exploration. were X environment some short the of any is going further tough building We're short there. just the corporation recently east. rain, to XX X there about see to which to best we've is previous and to the distance stibnite on do done to they options across have boundary distance roads. The but Highway by X. to Highway a work boundary. been Alaska that in the informed connects Doyon Highway miles the work with our -- the native Alaska area very in of Stibnite an into environment. The the so permafrost deposit is occurs high-grade got Highway that to We're east, to Corporation,

gold antimony source seeing win-win the So situation both with coordinating associated if Alaska basically antimony with World The Fairbanks and That we It with area a for during was production exploration. we'll War parties. is allied for forces. gold many showings. and has be of them the can antimony I of primary have

lot convey gold we've the minerals. because it presently available, There's looking several and you. we're from and a to other attempted there's for We'd we're Highway, companies a was that owners on that antimony good Highway, the to and in in Alaska all primary area. with Alaska, get It's Generally the highways. area. bit buy mining This of to of negotiating terminus them Altan little like difficult the immediate prospectors, geologists So focus a critical exploration good information that exploration. is infrastructure, property

joint If or preference. option, is purchase you supply with whatever venture you your lease can property, your

that the in of facilities. are position We downstream having

back others in minerals Ontario. We prospector. that. copper, many say not both have cobalt, acquired our lease knowledge Sudbury, feet. goes is drill potential own XX% deposit tungsten, to work geological that High longtime widths we this large Other a the also option and date. nickel, grades historic very up near outright X there a can deal with and claims, and grade cobalt, reported over X% narrow real like; in This a we've environment, name area in high may a nickel over follow and There's holes away be will or

areas. there been it's positive, far, cobalt disseminated mineralization is in showing that So adjacent

The X Vail companies, XX of Vale milling, or mining of there's property. the the company, located capacity within smelting and Glencore. the area, other miles excess all Swiss and advantage have this refining They Cartier very large Brazilian company,

deposit, cobalt here, or processing So is We've if up people. already how area asset mineral like survey. Rod are geological to hydrometallurgy. has the But in It is that the Those field He Sudbury the Mr. permitting the he successful, Cartier in Brakes' relatively specializing deposit to also of be done in He's no for related Bear a with in new, mention the proving in Ontario talked a Blakestad, XX He's cobalt. source other industry, in who's good specialized lifetime X of Fred considered metaediments. metaediments Sudbury mining high-grade CapEx the pyrometallurgy. Veronian delays the in job plants. I'd there'd about everybody geology. Alaska. big And and Aaron, Dr. graduate ounce in like Veronian of the million River. engaged Alaska. area, University or knows the we've gold state the specializing deposit. Fort Antimony of in the consulting geologists, seems had XX Jeff [Indidcernible] discoverer years Knox at

we it we back team. to think in that in good our you, So have of we're on terms people turn a the And I'll Gary. position

you, be very additional you -- of our claims. likely  Thank want surprised, see will not announcements Joe. I additional listeners to see

those midstream I to the going addition valuable we're and and as are We to here. this downstream the an it, We assets. see doing to with duplicate long-term not negotiating giving extremely slow to enough years company, having the company be They're it's ones many this to and being what natural valuable would can't to express power down other time assets try us how us And for on it. companies to huge are. now has take build. capitalize

in very we're fortuitous So position. a

talk what's our government bit let's have companies here little I'll So a and the about of give overview side a sector on to IR. go you little approached on, then have on private the after us, going Jonathan that I

antimony industry, So everyone private it's important than more opinion, in that the is understands the my that in needed government.

approached We to order overseas. they forces an from products sell by number finished U.S. products XXXX, antimony by it need executive of getting be from are And or a going armed to to getting -- the companies are being if that military. there's they're sources

-- we're by of to we domestic supply the seeking XXXX, And which secure critical in a from minerals have supply. that gives now. talking them is a need is And companies of finished products only they X a now number years XXX% so our to manner that that of couple

as same government the we're having at the discussions time discussions. these having we're So

private have And products, companies contracts. so just it's these that and it's for seeking are military big our not big government finished industry,

Antimony. never have tell before of introduced we've worked Aaron a the in the And investors hard We're bankers, came VPs something coverage really as to the the institutional VP hopeful been jump we Jonathan to had. the drum. Jonathan as story And of Street. many new is analysts, get to trying done company the of which beating bit, the really I the know, one seeing to who's of in. you quite has never past. trying company equity some to year, end So our research the has wanted about It's marketing our research Tonash, of time same that

for steal Jonathan, don't to year? everybody tell rest we've Why So of thunder. want I and the don't got what your we've you the what planned done

we've Thank in you, provide on made everyone. pleased Gary. the to Good front the update on strides an QX. afternoon, Relations Investor I'm

with broader Our company share investment our the efforts strategically around marketplace. positioning in community, and have been transparency the enhancing its centered deepening story to engagement

First, we I'd institutional like to conducted. talk the meetings and site about visits

institutional This feedback. strategic valuable investors progress. provided quarter, we these and our we recent deeper vision into and to prioritized direct insight initiatives conversations Through operational our received discussions, key reinforce with

site our work visits tangible experience allowed analysts has driving hosting the growth. operations firsthand, understanding Additionally, trust and to research building our about

LinkedIn audience. ensuring only our terms like to awareness, of outreach, name secured not a media focused on raised publications in a our In and publications on Yahoo but milestones also contributed activities a Global, in seen broader few, investor mining.com base. significant financial industry-specific we profiles visible which media placements uptick has S&P informed on miningtechnology.com, more X. We also and engagement and are Finance, We've and to our a and company's and broader social reach to

investors so. our you're that which critical If our to of please and for there, antimony go effort and our following reach minerals ahead are long-term has like do goals, to who with feel bolstered is attract pipelines new ability are domestic defense. This profile strategic mineral used securing public and military aligned aerospace, focus not enhance the to free us in

of Florida; Beach, conferences scheduled on Boca XXth to Circle in-person the investment X December a XX looking X attended wide One-on-One and conferences of participation in excellent Notably, and to Annual investors on upcoming an Florida; additional message roadshow involvement in X will events interested their with and City. and communicate regarding proposition X with for believe during has with have positive New Discovery on for us, led QX in an our our conferences Raton, at NobleCon Company's which our These future key engagement investor Benchmark with provided and in conferences These Next, Consulting December follow-up December Seventh dozens Miami to range are in growth. be X deepening we conferences our Conference York discuss we discussions these investors. our have QX, platform virtual months. value forward unique and

River has of we leading university are $XX a Bear part grant the that replace research investigate COX to side of manufacturing, received alternatives Zeolite to actively fly such On Zeolite a aiming participating with business, million and the in to ash concrete reduce emissions. studies as

discussions are regarding we same academic ability grants research confident to evaluate methane EPA multiple the we're supporting reduce various university as that to in to benefit a Additionally, Zeolite robust in significantly actively solid gas inventory, we're with momentum, sectors. stand a we agriculture. shareholders cattle With With this executing Overall, new amendment feed informed in across engaged our keeping you. fostering us, and and emissions our continue as goals. Thank committed to our markets strong seeking maintaining relations to Zeolite. we're investor business from penetrate

Thank you, Jonathan.

Okay.

on mind one about think government in the thing arena. what grants. antimony that is their a That's doing have of I talk is Let's lot people U.S.

X our D.C. So a last our our week, Department This as They Senior members result located government our and visit Washington, entertained came this be to the X this in facilities of of of of Montana. me Corporate Development concept submission mid-October paper U.S. Relations, week in number seeking from Melissa Thompson funding will Pagen, Government days, of in Vice U.S. I accompanying X and of X different Falls, divisions leave call. for for Department of Defense. a President, the different to investor Phillipsburg in Defense this company a was after consecutive evening antimony. areas the

white to Montana. have we approvals nothing made various and been lobbyist the our be be projects that were monies papers we Our various purpose our pockets. to meet for papers of must requested by attempt from allocated with Department have is I Defense to while to White be complete is submitted, week in definitive that last X to there yet. have firm and emphasize discussed want

antimony doubt antimony hot in no light there is However, is of shipments national a worldwide in curtail for own China's very that mid-September topic interest. their of all to announcement

solution. said. resolve open U.S. the planning -- minutes, as we when don't a anybody antimony, imagine, investor want When I'm products. finished here ask I'm the that help U.S. else. shortage government We up find are might the Now saying have up we I of choice calls to already in already believe must to have a I me especially natural the in opened a said I say. restricted to all And of you government I not about couple anything anything in

of meet understanding other's wasting that Otherwise, answer. commodity. has ask try can't a have to that be questions to I this We need and for the just So don't know ability each we're this the that time. need. real know we the government We

XXX% from getting short the the It's I ready have and time. government, which on know. in sort. You funding. allow in order here filing we'll need be have will hopefully been with required in use that capital that some to reaching if to and necessary. see There which to we're be papers the go in but you, basis meet we we no capital capable at-the-market million. funding $XX will unless filing, ATM quarter, on of the no point white it's may an XX-Q for markets when pro has funding submitting our will that Global. be plans today rata immediate of specific We're that hopeful of if to don't something to that our road We a to today are we future, cash Alliance issuance use on are up every have our we cash for something, but kind at is government raising this an that we've we down other need reason Sitting companies also don't adding and the there's we tell certain a registered

some others are Canadian, revolve We are know U.S. are wings. around antimony. the Some that in

So our governmental for meetings our this past week were extremely officials. educational

to that's us a have we're are. now working And what game plan, understand what needs on. For their and we

to funding -- this does do So company to government have successful. not have be

to us level it However, where happen it. dramatically could we quickly. need to want the And to we something cause catapult to be,

benefit and can that's of they so where where help can nice all situation a we And always us us help a them our win-win help country. and it's can

So about and questions with third to X you I'd may quarter for results up the XX. the audience our have months ended like September open that, to

is, the first can any Instructions]Your much there Thompson [Operator resource in at be If so, and are reserves question this Falls? exploited? how how antimony soon ground

jump skyrocketed to then when that backyard. in prices in. our mine that pound to i'll Joe a That mind have the thing may let here let-- right we $XX came wow, quickly, I'll answer a was first

papers So and quite old bit it it But we it we not the based of dug mine, And the what looking and Joe, surface management to started a but add back up. of off just do on had that history want still to sold you most to mining prior rights. that of seem rights, appears open did out conducive I said?

you land where Part reminiscent of are problem by the the is forest they're Perpetua land forest service permitting surrounded on situation know that of individual that service and is there. claims and problems

of was it time. waste felt we So a

be from private We earlier. it said kind BLM, been up in lands. staying lands on in provincial tribal Yes. to And of federal what any We've Joe whether forest to want very, away service, Canada. I wanted careful federal very conventional emphasize be only or lands,

you holdups on atrocious. is where that Perpetua or example That's has -- That's think going provincial of or occur. nothing X side. federal the X years now. And the private, permitting been a perfect I just or on where So state the

close feedstock? might additional quickly do reached? next are sources we how once see become to color this processing any is on feedstock evaluating. you're for some you regrading of Your feel available question additional of agreements material How securing are And the you

very ask good a It's we every question, day. something ourselves

and to this can furnaces and existing we that I really actual based will have with test of with just is a it material processed can a process. with shipment dollar we're shipment, thousand equipment the properly and that think And machinery our respect getting big the what container, comfortable be close. not hundred a a problem we're likely with various discussions parties having not might we happen small couple on receive that get

in we'll I'm something end announcing have we'll year. the before the that that regard of be So that hopeful

is contract in what before it mill? fully Your will be must the of what is, next operational? And question the place condition conditions be

one. on that let you I'll Joe, jump

fully Aaron reconditioning that it's just involved to waiting It mill It's with ready like up. rebuilding good The has or has now. for feed. that. kept and There's or no long anything been mill, a maintenance We're time. for always a operational go. was been

it the DoD, they said for this many all saw for went the turn it. There's to years. the thing and in Joe knows emphasize repaired. fully And this He nothing ran today. will switch as week contact mill on operational it on. Joe flip We needs I -- A be our Aaron, first and with this Z. from what said, And it's to through time past that I

trucks I added in Now the property. doubt. will there that dozers, No be backloaders, there or it's need you this things be there, to equipment that mean, all are operational start changed as as on mill to there an are sits need -- the are road? up there facility, down But far

Bardswich, are vicinity? is, in next or mines there significant the neighbors the NIXX-XXX Are what Mr. Lake near Canada? question operating Your reserves compliant any in

area owned Sudbury -- feet be in Vale. is think So in the now I down which Glencore. owned area got it's born, to taken Mine #X X,XXX the by of Craton was is and shaft where that to by now XXXX, was there. [Indiscernible] today It the largest Canada. international Brazilian nickel, mining used company, still by [indiscernible], a that's producing is Nickel over single I depth XX started it

coming the millions So to What mill the and discovery, at is having availability that me to of significant or build infrastructure we rather other there's where of tonnes a and nickel truck out of minerals make is of permit we that XX no et area. copper where options than cobalt of can there's cetera. a ore mill, a

no next USAC of Thompson supply longer XX% in to able XXXX? At benefit The X your feedstocks? has the question part from Falls, Is say to Teck higher safe ore is came it QX that been that antimony is capacity from at in parts. prices historically

did during material quarter second question. They we quarter Good current of for from down receive part and the not silver almost related of No, XXX% were mine, our their the Teck. months. and to third comes  Okay. material X

we're That plenty material getting has as So changed, of and now both expected. that hurt quarters.

Could the what question, second what part it So of can't was? your was. second I the operator, part me, remember tell you

Yes, of benefit to course. At QX safe prices it to able is XX% capacity antimony higher in at Thompson been Falls, USAC XXXX? say that from has

what we in doing quarter was tolling. Very little the were because third of most

to percentage these into locked were we the are around That and most words, purchase Rotterdam. contracts fixed of and other changing a in parties that a is of will talking we're fee with So various world these change sale. of because

a is lot paying, whole that So say, Rotterdam Rotterdam price. or different gain XX% of XX% percentage if XX% you're $XX.XX difference at than a to $X XX% of let's price, and

as I start So improving we margins anticipate our third-party dramatically material. receiving

is capture question zeolite that been What Can middlemen like space. management CattleMax? the this of is, initiative? margins noted it's the sales you Your would being by to better of in progress they next quantify this made in

one it's last the answer I'll first Okay. because easy.

had the haven't because new yet had open. Prime change Cattle was the CattleMax I or backwards. We sales Max got to maybe Cattle to Prime any name, name is No, we it Cattle of

getting or and that So us we a delay to about trademark had going because want it. trouble gave somebody X- we X-month with, didn't fight issue a in had that infringement we

So we changed name. the

to are feed lots. We talking nutritionists now and

to San haven't sales shows. Antonio one here in cattle we have Our just Idaho any to Oklahoma. weeks people been ones gone got We've and went yet. And to to ago. X Jonathan of magnitude going

salesman fourth a and things new decided That's dedicated I here we of sales mentioned to the cattle seeking market, one minimal. do to but that the that person quarter, in we it's now. the some bring we think we're have on have

question. Now of the I the one? What first forgot part was first the

made? It's been progress that noted margins the this middleman would capture the better they zeolite space. is in of management by being What to like

have good having very We're  As of completed audit some up stage chunk LOI needing of do -- our we're middlemen, finish to delivered an business. and to lunch with trying of represents which at I the in some arrangement. their in we're company. that we and good one a particular mentioned, an met and us, financials, we an discussions with their final was them about them

market change Zeolite to is So that facility. margins of BRZ that the progressing. And the have would a

question efforts? to mining next involved involved is, be Your with are or planning advocacy mineral with coalitions you any or U.S. critical

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obviously we're met up cobalt actually only mineral firm on Cobalt. just we're critical as that's a New in. there. in not about love While obviously, situation with York We is Joe recently mentioned, our involved and focused antimony, the They Canadian

gas oil So you in remember, industry. like years -- and I spent XX the

we industry partner? So private partners like mean we're you got we've hey, be talking to whether leases, promoting, a whether be whether government, partnerships. it to collaborations, it want We industry, out be companies. these I would it be about the mining want other U.S.

think type And develop continue of we as so strategy announced you'll to see I there. those opportunities our

We remarks. for question-and-answer call have turn reached Evans over the C. will now session. closing the end of Gary I And the to

this was what doing today, it in said was for a regarding phenomenal regarding future we're company. so-so quarter financials, of the but press the this I As release quarter a

but were can't was gross we're be money before, the reason -- up can't And drilling even capitalized. you test the up, loss with our and been loss our is revenues so though done reports but take doing with every leases, our with spending never SEC people, profit greater. is was that holes, things greater And that

the you're So we're company. flowing statement all chunk salaries, noncash not because income big a we're we taking how of taking the is much that stock and this compensation. seeing That's through in believe expenses

planted to see right that's do to $X companies. this This billion billion-dollar for perfectly to we're So needs our we a goal company. to exponential. you'll future that And is growth be used that. the going that the think at grow believe running the suited rapidly, have seeds I it and of we be company to And I'm time

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if afraid I on be think sure that we maybe to It shelf. the another feather this of the reports of And universal can. be end under out our you'll to don't our ATM. capital, us raise before just research see It's year. just we need in X hat is

We have to be tomorrow week. plans or selling no next stock

done We're but that. in But where stewards not sense, it when the permits. available wisely, I've happening future, have the and it that tell use being done in understand I opportunity and the does financial us So I've you, I've in everything stock. as smart the $X it an down And see we of raised be you ATMs, my we're makes it over to this hurt billion road. we something will if will it career resources need down could company's time we road. the prepared the have near won't necessary being to and

hand I'll the So you, thank operator, everybody and for over with that, call to today. participating

today's Thank your this Certainly. conclude participation. disconnect at This you webcast, you does time. lines for your and can