$UAMY - pros and cons

Hey everyone,

I’ve been following UAMY (United States Antimony Corporation) for a while and wanted to get some community input. I bought in at $9.80 and am currently down about 15%. Their FY 2025 numbers just came out, and while the revenue growth looks strong, profitability is still a concern.

To break it down: Q4 2025 revenue was around $13M, up from $5.6M in Q4 2024, and trailing 12-month revenue sits at roughly $39.3M. That’s a significant jump over the past six quarters – from ~$2.6M in Q3 2024 to $13M in Q4 2025 – which shows that their scaling efforts, joint ventures, and expanded ore sourcing are feeding into higher sales.

The flip side is profitability. EPS has been choppy, swinging from a small profit in early 2025 to a $0.0388 loss in Q3, and a small loss again in Q4. Trailing EPS over the last 12 months is still around -$0.035. So even though the topline is improving, it hasn’t yet translated into consistent net income. Bulls point to growth drivers like the joint venture with Americas Gold & Silver, expanded capacity at Thompson Falls and Madero, and long-term contracts such as the $245M Defense Logistics Agency award. But skeptics highlight execution risk, rising losses, a high P/S multiple (~29x), short cash runway, and recent shareholder dilution.

Given all this, I’m curious what other investors think:

1. Has anyone here been holding UAMY long-term? 2. Do you see the recent revenue growth eventually translating into stable profitability? 3. Would you personally hold through the volatility or take profits on small bounces? 4. Any red flags or signals I should be watching closely?

I’d really appreciate hearing your thoughts and experiences, especially from people who have been in UAMY for a while or are familiar with the antimony market. Thanks!