United States Antimony Corporation generated $7.9 million in revenue during the second quarter of 2026, compared to $10.5 million in the prior-year period, alongside a net income of $0.1 million.

The company updated its full-year 2026 gross revenue guidance to a range of $60 million to $75 million, down from its previous guidance of $125 million. The revised range accounts for a material decline in market prices for antimony, shifting delivery timelines under a Defense Logistics Agency contract, and updated production cadences for the second half of the year.

Antimony pounds sold rose 26% year-over-year, but average selling prices declined roughly 52% to $13.70 per pound. Operating expenses increased to $7.6 million, resulting in an operating loss of $7.0 million, largely offset by a $6.8 million unrealized gain from the company's investment in Larvotto Resources Limited.

The company delivered its first two shipments totaling approximately 82,000 pounds of antimony metal ingots under its Defense Logistics Agency contract. Because formal acceptance occurred in July, the approximately $2.6 million in associated revenue will be recognized in the third quarter.

Capital expenditures reached $22.8 million gross during the first six months of 2026, funding the Radersburg flotation facility acquisition and the Thompson Falls expansion. This outlay was partially offset by a $12.8 million payment received in April for milestones achieved under a Defense Production Act Title III grant.

Working capital doubled to $70.0 million as of June 30, 2026, driven by $49.1 million in net proceeds from equity issuances, leaving the company with $62.2 million in combined cash, cash equivalents, and U.S. Treasury securities.

“While our overall operations are continuing to improve markedly each month, those successes are only slowly trickling into our financial performance. While we made our first deliveries to the government during the second quarter, none of that achievement was reflected during this financial reporting period.”

— Gary C. Evans, Chairman and Chief Executive Officer

Read the full announcement: United States Antimony Corporation Reports Second Quarter and Six Months Ended June 30, 2026 Financial and Operating Results