UNITED STATES ANTIMONY CORP Q1 FY26 Results

"When you are building a vertical business at the speed we are achieving at USAC, things rarely move in a straight line. There will be bumps in the road. Our first quarter results reflect a deliberate investment phase for our future. I told the ‘street’ during our year-end conference call that our total operating results were likely to be ‘bumpy’ this year. The increase in operating expense, the inventory build, and the capital expenditures we made in the quarter are the necessary foundation for the production scale-up we expect during the balance of 2026. While these investments drove a near-term loss, primarily all non-cash related, we believe we are much better positioned for the Company to deliver materially stronger financial performance in future reporting periods as our Montana-based mining, processing, and expanded smelting capabilities come online and integrate with our own material over the course of the year." "We are particularly pleased with the progress under our DoW grant program, the addition of the Radersburg flotation mill, and the formation of our hydrometallurgical joint venture, each of which advances the vertical integration of our critical minerals platform. While government grant requests are never guaranteed, we believe our three official filings made since the first of this year, which total $274 million, are ‘on point’ and meet the standards established by these various governmental agencies in their desire to expedite ‘home grown’ critical mineral development, both in the field as well as our proprietary downstream refining processes. The positive feedback we have received to date gives us encouragement of our continued success in this endeavor. Combined with our existing DLA contract, where we have noticed the government for two deliveries, our existing pipeline of additional governmental grant requests, and the post-quarter strengthening of our balance sheet, we are well-positioned to continue executing our 2026 business plan. The additional equity capital we have raised since the end of March is to guarantee we are in a position of strength to achieve these lofty goals and objectives."