call replay available for next week i believe; my jotted down notes (please verify what i think i heard lol)
Notes: ------ Gary Evans ('lead' director)
10k 11mil rev up 43% 9mil cost ~2mil gross profit 1.6mil op expenses 429k net inc
19.4mil working capital
antimony 2023 price/lb down
trying to increase zeolite sales and prices... streamline ops at BRZ hiring new divisional mgr
up 56% lbs sold anti sales up 21% tonnage sold zeolite
within 30 days of q1 end q1 filed....... q2 30 days after that
10k late: unexperienced acct staff... 2022 #'s had to be redone... no numbers had to be changed... clean auditor opinion
historically weak on internal controls... high priority working on sarbanes oxley
new website recently brought online
buyback: $203k bought 419k avg price $0.48 can't buy again until q1/q2 filed
hired new fulltime cfo this week... starting 2-3 weeks.. strong background cost accounting
exec search for new CEO ongoing..
a lot more changes coming.....
1 objective, improve operations to increase share price
claim their story hasn't been pitched properly to the govt.... think they're in a unique position being a US producer to meet some military demands... goal to better educate govt entities to their capabilities/opportunity
visit from Montana mining (something)
Joe attending conference House natural resources committee .. phoenix... critical minerals.. friday... antimony 'is' on US critical minerals list
what about Ambri? frequent contact with senior mgmt at ambri.. so far sole supplier of antimony.. have a confidentiality agreement with them... all they can say is they're very close.. speak frequently with them
cognizant of the fact institutions aren't looking at them aware of ir/pr..
award from a gov agency would be a newsworthy event.. in a perfect seat to do that
wadley surveying.. material thusfar? bought fair amount of ore from them.. grade is not as high as years past.. maybe miners aren't cleaning the ore... added a gravity table at the smelter sorts out the antimony ... Mgmt / owners are wadley owe documentation so uamy can finish dd... hasn't been supplied... last meeting 3 weeks ago... agreement has been extended trying to bring it to a head.... has been a heated discussion with the BOD... not living in a complacency zone
mining in montana? slim to nil skinny veins cost ineffective reason in Mexico... cost of labor...etc...
trisulfides? 2 new furnaces installed yet? every 100 pours they have to change our a crucible... they're rotating furnaces to eliminate downtime.. enough feedstock to produce as much as the market is demanding? have enough at this point using recycled material from US company... resmelt it again.... no antimony trisulfide shipped into US since 2020 were behind last year... currently have a surplus
had 18 tons of concentrates from guadalupe; currently making into trisulfides now have 11-12 tons of that left.. virgin material
target for eps or share price next? haven't typically put out projections... hard for a small company... share price is based on delivering... if they deliver it will take care of itself
US-based company in this business... 'option value' ... further support from govt and/or govt agencies
zeolite capacity? can it be scaled? company efforts product differentiation? BRZ has capacity to product a lot more product... changes were made.. BOD approved capital..... changes could support 3-4x what it is today crushing to spec is the key item; why they're looking for an expert outside the company
plans to explore new markets? have to 1st be able to meet demand from current markets/customers.. and then expand upon that... see the opportunity