UAMY doubles Stibnite Hill haulage, but gives no new production guidance

The restart was already expected; execution speed is the new information. USAC had publicly announced the Stibnite Hill restart on April 2, 2026, so this filing mainly updates progress rather than revealing a new mine launch. The market’s practical expectation was that the restart would begin producing usable domestic feedstock, not simply that contractors would return to the site.

The operating trend is better than the prior campaign. The company has moved 576 tons so far in 2026 and is now hauling approximately 42 tons per operating day, versus roughly 18 tons per day during the 2025 campaign. The filing explicitly says the current campaign is moving ore “over two times faster than last year's daily rate.” 〔0〕

The update supports the domestic-feedstock thesis but does not yet prove financial conversion. The ore is being sent to the Radersburg flotation mill, with concentrate then routed to the Montana or Mexico smelter; the filing does not disclose recovered antimony, finished-product output, revenue, margins, or a revised production target. It reports approximately 10% antimony content in the ore, but that is feed grade—not equivalent to saleable antimony after recovery and processing. 〔1〕

Net read: modestly better execution, not a forecast reset. Against a market already expecting the mine restart to contribute, the faster haulage rate is a tangible incremental positive. But because USAC supplies no new finished-production or revenue guidance—and only says it anticipates similar results in Alaska—the filing improves confidence in mine execution without materially changing the earnings picture yet.