is in a period of growth in all three divisions – antimony, precious metals
(gold and silver), and Bear River Zeolite.
Permitting for a leach plant at our Puerto Blanco mill site is expected in
2017. It will allow us to begin producing precious metals from our Los Juarez property.
By the end of 2016, we will
have completed the smelting of the Hillgrove antimony and we will ramp up
production from our own mines to replace the antimony concentrate from
Hillgrove. We are increasing the grade of ore from our Mexico mines.
The average price of antimony has
dropped from more than $8.00 per pound in 2011 to $2.87 per pound
through 9 months of 2016.
Our antimony sales increased from
1,869,869 pounds for 9 months of 2015 to 2,304,559 pounds for 9 months of 2016, an increase
of 23.2%. Bear River Zeolite sold 10,690 tons of zeolite for 9 months of 2016 compared to
10,491 tons in the same period of 2015.
We had $564,581 of precious metals
revenue compared to $365,388 during the first 9 months of
2015, an increase of 54.5%.
Bear River Zeolite had a net profit of
$235,912 during the first 9 months of 2016.