10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

þ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2014

o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period   to  

Commission file number 001-08675

UNITED STATES ANTIMONY CORPORATION

(Exact name of registrant as specified in its charter)

Montana	81-0305822
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

P.O. Box 643, Thompson Falls, Montana	59873
(Address of principal executive offices)	(Zip code)

Registrant’s telephone number, including area code:(406) 827-3523

Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

YES þ  NO o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

YES þ  NO o

Indicate by check mark whether the registrant is a shell company as defined by Rule 12b-2 of the Exchange Act.

YES o  NO þ

At May 7, the registrant had outstanding 63,364,540 shares of par value $0.01 common stock.

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	o	Accelerated filer	þ
Non-accelerated filer	o	Smaller reporting company	o
(Do not check if a smaller reporting company)

UNITED STATES ANTIMONY CORPORATION

QUARTERLY REPORT ON FORM 10-Q

FOR THE PERIOD

ENDED MARCH 31, 2014

(UNAUDITED)

TABLE OF CONTENTS

	Page
PART I – FINANCIAL INFORMATION
Item 1: Financial Statements (unaudited)	1-13
Item 2: Management’s Discussion and Analysis of Results of Operations and Financial Condition	14-16
Item 3: Quantitative and Qualitative Disclosure about Market Risk	16
Item 4: Controls and Procedures	17
PART II – OTHER INFORMATION
Item 1: Legal Proceedings	18
Item 2: Unregistered Sales of Equity Securities and Use of Proceeds	18
Item 3: Defaults upon Senior Securities	18
Item 4: Mine Safety Disclosures	18
Item 5: Other Information	18
Item 6: Exhibits and Reports on Form 8-K	18
SIGNATURE	19
CERTIFICATIONS	20-25

[The balance of this page has been intentionally left blank.]

PART I-FINANCIAL INFORMATION

Item 1. Financial Statements

United States Antimony Corporation and Subsidiaries

Consolidated Balance Sheets

	(Unaudited)
	March 31, 2014			December 31, 2013
ASSETS
Current assets:
Cash and cash equivalents	$	4,851		$	20,343
Certificates of deposit		248,915			246,565
Accounts receivable, net		872,861			576,021
Inventories		680,685			1,034,770
Other current assets		80,352			32,865
Total current assets		1,887,664			1,910,564
Properties, plants and equipment, net		12,520,820			12,395,645
Restricted cash for reclamation bonds		75,501			75,501
Other assets		552,230			509,281
Total assets	$	15,036,215		$	14,890,991
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Checks issued and outstanding	$	37,179			-
Accounts payable		1,943,813		$	1,734,767
Due to factor		218,223			177,701
Accrued payroll, taxes and interest		138,865			124,937
Other accrued liabilities		53,935			50,745
Payables to related parties		1,466			15,549
Deferred revenue		92,138			110,138
Notes payable to bank		154,503			138,520
Long-term debt, current		399,391			126,984
Total current liabilities		3,039,513			2,479,341
Long-term debt, net of discount and current portion		767,712			1,002,215
Stock payable to directors for services		150,000			150,000
Asset retirement obligations and accrued reclamation costs		259,590			257,580
Total liabilities		4,216,815			3,889,136
Commitments and contingencies (Note 4 and 6)
Stockholders' equity:
Preferred stock $0.01 par value, 10,000,000 shares authorized:
Series A:  -0- shares issued and outstanding		-			-
Series B: 750,000 shares issued and outstanding
(liquidation preference $892,500 and $885,000,
respectively)		7,500			7,500
Series C: 177,904 shares issued and outstanding
(liquidation preference $97,847)		1,779			1,779
Series D: 1,751,005 shares issued and outstanding
(liquidation preference $4,796,731)		17,509			17,509
Common stock, $0.01 par value, 90,000,000 shares authorized;
63,281,206 and 63,156,206 shares issued and outstanding, respectively		632,812			631,562
Additional paid-in capital		32,204,714			32,030,249
Accumulated deficit		(22,044,914	)		(21,686,744	)
Total stockholders' equity		10,819,400			11,001,855
Total liabilities and stockholders' equity	$	15,036,215		$	14,890,991

The accompanying notes are an integral part of the consolidated financial statements

1

United States Antimony Corporation and Subsidiaries

Consolidated Statements of Operations (Unaudited)

	For the three months ended
	March 31, 2014			March 31, 2013
REVENUES	$	2,952,314		$	2,966,775
COST OF REVENUES		3,004,854			3,028,909
GROSS PROFIT (LOSS)		(52,540	)		(62,134	)
OPERATING EXPENSES:
General and administrative		207,497			224,518
Professional fees		91,238			101,985
Gain on sale of equipment		(5,450	)		-
TOTAL OPERATING EXPENSES		293,285			293,285
LOSS FROM OPERATIONS		(345,825	)		(355,419	)
OTHER INCOME (EXPENSE):
Interest income		2,758			3,089
Interest expense		(114	)		(1,461	)
Factoring expense		(14,989	)		(21,816	)
TOTAL OTHER INCOME (EXPENSE)		(12,345	)		(20,188	)
NET LOSS	$	(358,170	)	$	(375,607	)
Net loss per share of
common stock:
Basic and diluted	$	(0.01	)	$	(0.01	)
Weighted average shares outstanding:
Basic and diluted		63,224,806			61,896,726

The accompanying notes are an integral part of the consolidated financial statements

2

United States Antimony Corporation and Subsidiaries

Consolidated Statements of Cash Flows (Unaudited)

	For the three months ended
	March 31, 2014			March 31, 2013
Cash Flows From Operating Activities:
Net loss	$	(358,170	)	$	(408,825	)
Adjustments to reconcile net loss to net cash used
by operating activities:
Depreciation and amortization expense		185,462			181,918
Accretion of asset retirement obligation		2,010			2,010
Common stock issued for services		-			2,628
Gain on sale of asset		5,450			-
Change in:
Accounts receivable, net		(296,840	)		(180,139	)
Inventories		354,085			177,457
Other current assets		(48,387	)		(40,301	)
Other assets		(45,299	)		(21,639	)
Accounts payable		214,761			(113,623	)
Due to factor		40,522			281,194
Accrued payroll, taxes and interest		13,928			11,511
Other accrued liabilities		3,190			3,762
Deferred revenue		(18,000	)		-
Payables to related parties		(14,083	)		(342	)
Net cash provided (used) by operating activities		38,629			(104,389	)
Cash Flows From Investing Activities:
Purchase of properties, plants and equipment		(296,147	)		(456,876	)
Net cash used by investing activities		(296,147	)		(456,876	)
Cash Flows From Financing Activities:
Proceeds from issuance of long term debt		50,000			-
Proceeds from sales of common stock		170,000			-
Proceeds from notes payable to bank		15,983			-
Principal payments on long-term debt		(31,136	)		(46,252	)
Change in checks issued and payable		37,179			-
Net cash provided (used) by financing activities		242,026			(46,252	)
NET DECREASE IN CASH AND CASH EQUIVALENTS		(15,492	)		(607,517	)
Cash and cash equivalents at beginning of period		20,343			1,000,811
Cash and cash equivalents at end of period	$	4,851		$	393,294
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Noncash investing activities:
Properties, plants and equipment acquired with long-term debt	$	19,040
Properties, plants and equipment acquired with accounts payable				$	15,750
Noncash financing activities:
Equipment sold for note receivable	$	10,000

The accompanying notes are an integral part of the consolidated financial statements

3

PART I - FINANCIAL INFORMATION, CONTINUED:

United States Antimony Corporation and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

1.Basis of Presentation:

The unaudited consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, as well as the instructions to Form 10-Q.  Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim financial statements have been included. Operating results for the three month periods ended March 31, 2014, are not necessarily indicative of the results that may be expected for the full year ending December 31, 2014.

Reclassifications

Certain consolidated financial statement amounts for the three month periods ended March 31, 2013, have been reclassified to conform to the 2014 presentation.  These reclassifications had no effect on the net income (loss) or accumulated deficit as previously reported.

Management estimates their effective tax rate at 0% for the current year.

For further information refer to the financial statements and footnotes thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

During the three months ended March 31, 2014 and 2013, the Company incurred interest expense of $11,689 and $6,058, respectively, of which $11,575, and $4,597, respectively, has been capitalized as part of the cost of construction projects in Mexico.

2. Income (Loss) Per Common Share:

Basic earnings per share is calculated by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period.  Diluted earnings per share is calculated based on the weighted average number of common shares outstanding during the period plus the effect of potentially dilutive common stock equivalents, including warrants to purchase the Company's common stock and convertible preferred stock.  Management has determined that the calculation of diluted earnings per share for the three month periods ended March 31, 2014 and March 31, 2013, is not applicable since any additions to outstanding shares related to common stock equivalents would be anti-dilutive.

As of March 31, 2014 and 2013, the potentially dilutive common stock equivalents not included in the calculation of diluted earnings per share as their effect would have been anti-dilutive are as follows:

	3/31/2014		3/31/2013
Warrants		2,364,407		1,934,667
Convertible preferred stock		1,751,005		1,751,005
Total possible dilution		4,115,412		3,685,672

4

PART I - FINANCIAL INFORMATION, CONTINUED:

United States Antimony Corporation and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited), Continued:

3. Inventories:

Inventories at March 31, 2014, and December 31, 2013, consisted primarily of finished antimony products, antimony metal, antimony ore, and finished zeolite products that are stated at the lower of first-in, first-out cost or estimated net realizable value. Finished antimony products, antimony metal and finished zeolite products costs include raw materials, direct labor and processing facility overhead costs and freight. Inventory at March 31, 2014 and December 31, 2013, is as follows:

	March 31, 2014		December 31, 2013
Antimony Metal	$	45,522	$	33,850
Antimony Oxide		268,557		535,251
Antimony Concentrate		134,043		93,190
Antimony Ore		120,643		106,519
Total antimony		568,765		768,810
Zeolite		111,920		265,960
	$	680,685	$	1,034,770

4. Accounts Receivable and Due to Factor:

The Company factors designated trade receivables pursuant to a factoring agreement with LSQ Funding Group L.C., an unrelated factor (the “Factor”).  The agreement specifies that eligible trade receivables are factored with recourse. We submit selected trade receivables to the factor, and receive 83% of the face value of the receivable by wire transfer. The Factor withholds 15% as retainage, and 2% as a servicing fee.  Upon payment by the customer, we receive the remainder of the amount due from the factor.  The 2% servicing fee is recorded on the consolidated statement of operations in the period of sale to the factor. John Lawrence, CEO, is a personal guarantor of the amount due to Factor. 

Trade receivables assigned to the Factor are carried at the original invoice amount less an estimate made for doubtful accounts.  Under the terms of the recourse provision, the Company is required to reimburse the Factor, upon demand, for factored receivables that are not paid on time.  Accordingly, these receivables are accounted for as a secured financing arrangement and not as a sale of financial assets.  The allowance for doubtful accounts is based on management’s regular evaluation of individual customer’s receivables and consideration of a customer’s financial condition and credit history.  Trade receivables are written off when deemed uncollectible.  Recoveries of trade receivables previously written off are recorded when received.  Interest is not charged on past due accounts.

We present the receivables, net of allowances, as current assets and we present the amount potentially due to the Factor as a secured financing in current liabilities.

Accounts Receivable	March 31, 2014			December 31, 2013
Accounts receivable - non factored	$	658,669		$	402,351
Accounts receivable - factored with recourse		218,223			177,701
less allowance for doubtful accounts		(4,031	)		(4,031	)
Accounts receivable - net	$	872,861		$	576,021

5

PART I - FINANCIAL INFORMATION, CONTINUED:

United States Antimony Corporation and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited), Continued:

5. Other Assets:

Guadalupe

On March 7, 2012 and on April 4, 2012 the Company entered into a supply agreement and a loan agreement, respectively, (“the Agreements”) with several individuals collectively referred to as ‘Grupo Roga’ or ‘Guadalupe.’  The individuals are the holders of mining concessions located in Mexico in which the Company is interested.  The supply agreement specified that the Company would advance monies to Guadalupe for specific expenses, including repairs of road and payment of mining taxes.  In addition, the Company agreed to purchase antimony ore mined at Guadalupe and pay for mining and trucking costs incurred with the condition that the ore maintain a grade of 3% or more of recoverable antimony. The advances are to be repaid by deducting 10% from the value of each antimony ore shipment. During 2012 and 2013, the recoverable grade of antimony was less than 3% and the amounts due the Company from Guadalupe increased as a result of recoverable antimony shortfalls.

The Agreements with Guadalupe granted the Company an option to purchase the concessions outright for $2,000,000. The Agreements also provide that in event of a breach of the terms by Guadalupe that the Company has a right to enter the property and take possession of the mining concessions. The advances are collateralized by a mortgage on the concessions.  As of March 31, 2014 and December 31, 2013, the Company had cumulative loans and advances due from Guadalupe of $505,230, and $489,281, respectively, included in its other assets.

Soyatal

On August 5, 2013, the Company entered into a supply agreement with the owners of the Soyatal concessions similar to that of Guadalupe and notified the owners of Soyatal that it was exercising the option to purchase the Soyatal property. The option exercise agreement allowed the Company to apply all amounts previously due the Company (the “Purchase Price Credits”) by Soyatal of $420,411 to the purchase price consideration. At December 31, 2013, the Company had Purchase Price Credits of approximately $325,000 which can be used as payments on the note at the rate of $100,000 per year until gone.  The Company is obligated to make payments of $200,000 annually through 2020, and a final payment of $100,000 is due in 2021.  The debt payable for the Soyatal mine is non-interest bearing. The Company recorded the debt and the related Soyatal mine asset by determining the net present value of the contractual stream of payments due using a 6% discount rate. The resulting discount on the Soyatal debt is approximately $212,000 at December 31, 2013, and is netted against the debt payable resulting in a discounted amount of $762,541, at December 31, 2013. The discount will be amortized to interest expense using the effective interest method over the life of the debt.  No payments were made on the debt during the first quarter of 2014.  The first payment of $200,000 is due January 1, 2015. 

6. Commitments and Contingencies:

In 2005, AM signed an option agreement that gives AM the exclusive right to explore and develop the San Miguel I and San Miguel II concessions for annual payments.  Total payments will not exceed $1,430,344, reduced by taxes paid.  During the three months ended March 31, 2014 and the year ended December 31, 2013, $0 and $130,434, respectively, was paid and capitalized as mineral rights in accordance with the Company’s accounting policies.  At March 31, 2014, approximately $450,000 of option payments are scheduled to be paid in June 2014.

6

PART I - FINANCIAL INFORMATION, CONTINUED:

United States Antimony Corporation and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited), Continued:

6. Commitments and Contingencies, Continued:

From time to time, the Company is assessed fines and penalties by the Mine Safety and Health Administration (“MSHA”). Using appropriate regulatory channels, management may contest these proposed assessments. The Company has accrued $7,909 of liabilities in other accrued liabilities as of March 31, 2014 related to such assessments.

In June of 2013 the Company entered into a lease to mine antimony ore from concessions located in the Wadley Mining district in Mexico.  The lease calls for a mandatory term of one year and requires payments of $34,800 per month.  The lease is renewable each year with a 15 day notice to the lessor, and agreement of terms.

7. Notes Payable to Bank:

During 2012, the Company negotiated a new credit facility increasing the Company’s lines of credit by $202,000.  As part of this agreement, the Company has pledged two $101,000 certificates of deposit as collateral.  The increased loan facility allows us access to borrowings at an interest rate of 5.0% for the portion of the credit line used.  At March 31, 2014, we had drawn $154,503 which was reported as notes payable to bank.

At March 31, 2014 and December 31, 2013, the Company had the following notes payable to the bank:

	March 31,		December 31,
	2014		2013
Promissory note payable to First Security Bank of Missoula, bearing interest at 5.0%, maturing February 27, 2016, payable on demand, collateralized by a lien on Certificate of Deposit number 48614	$	73,606	$	70,952
Promissory note payable to First Security Bank of Missoula, bearing interest at 5.0%, maturing February 27, 2016, payable on demand, collateralized by a lien on Certificate of Deposit number 48615		80,897		67,568
Total notes payable to bank	$	154,503	$	138,520

These notes are personally guaranteed by John C. Lawrence the Company’s President and Chairman of the Board of Directors.

7

PART I - FINANCIAL INFORMATION, CONTINUED:

United States Antimony Corporation and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited), Continued:

8.           Long – Term Debt:

Long-Term debt at March 31, 2014 and December 31, 2013, is as follows:	March 31.			December 31,
	2014			2013
Note payable to BMT Leasing, bearing interest at 6.9%; payable in monthly installments of $3,555; maturing December 2014; collateralized by equipment.	$	16,029		$	-
Note payable to Thermo Fisher Financial Co., bearing interest at 8.54%; payable in monthly installments of $2,792; maturing December 2013; collateralized by equipment.		-			5,583
Note payable to Stearns Bank, bearing interest at 6.9%; payable in monthly installments of $3,555; maturing December 2014; collateralized by equipment.		34,459			41,117
Note payable to Western States Equipment Co., bearing interest at 6.15%; payable in monthly installments of $2,032; maturing June 2015; collateralized by equipment.		29,276			34,861
Note payable to Catepillar Financial, bearing interest at 5.95%; payable in monthly installments of $827; maturing September 2015; collateralized by equipment.		14,963			16,440
Note payable toDe Lage Landen Financial Services, bearing interest at 5.30%; payable in monthly installments of $549; maturing  March 2016; collateralized by equipment.		13,089			13,945
Note payable to Phyllis Rice, bearing interest at 1%; payable in monthly installments of $2,000; maturing March 2015; collateralized by equipment.		31,808			33,808
Note payable to De Lage Landen Financial Services, bearing interest at 5.12%; payable in monthly installments of $697; maturing December 2014; collateralized by equipment.		7,548			8,797
Note payable to Catepillar Financial, bearing interest at 6.15%; payable in monthly installments of $766; maturing August 2014; collateralized by equipment.		4,518			5,921
Note payable to De Lage Landen Financial Services, bearing interest at 5.28%; payable in monthly installments of $709; maturing June 2014; collateralized by equipment.		2,872			4,186
Obligation payable for Soyatal Mine, non-interest bearing, annual payments of $200,000  through 2019, net of discount of $212,048		762,541			762,541
Note payable to Robert Detwiler, a shareholder, bearing interest at 10.0%, due January 31, 2016; collateralized by equipment.		50,000
Note payable to Robert Detwiler, a shareholder, bearing interest at 10.0%, due January 2, 2015; collateralized by equipment.		80,000			82,000
Note payable to Betsy Detwiler, a shareholder, bearing interest at 10.0%, due January 2, 2015; monthly payments of $1,000;collateralized by equipment.		120,000			120,000
		1,167,103			1,129,199
Less current portion		(399,391	)		(126,984	)
Long-term portion	$	767,712		$	1,002,215

8

PART I - FINANCIAL INFORMATION, CONTINUED:

United States Antimony Corporation and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited), Continued:

8. Long – Term Debt, Continued:

At March 31, 2014, principal payments on debt are due as follows:

Due by March 31,
2015		399,391
2016		119,032
2017		60,952
2018		139,199
2019		172,962
2020		183,339
2021		92,228
	$	1,167,103

9. Concentrations of Risk:

	For the Period Ended
Sales to Three Largest Customers	March 31, 2014			March 31, 2013
Alpha Gary Corporation	$	1,142,850		$	1,063,716
General Electric		-			195,300
Kohler Corporation		778,766			712,485
Teck American, Inc.		145,432			-
	$	2,067,048		$	1,971,501
% of Total Revenues		70.10	%		66.50	%

Three Largest Accounts Receivable	March 31, 2014			December 31, 2013
Kohler Corporation	$	383,589		$	202,019
Commerce Industrial Chemical		57,715			-
Alpha Gary Corporation		-			42,778
Teck American, Inc.		203,888			88,329
	$	645,192		$	333,126
% of Total Receivables		74.00	%		57.83	%

10. Related Party Transactions:

During the three months ended March 31, 2014 and 2013, the Chairman of the audit committee and compensation committee received $9,000 and $9,000, respectively, for services performed.

During the three months ended March 31, 2014 and 2013, the Company paid $3,732  and $23,085, respectively, to John Lawrence, our President and Chief Executive Officer, as reimbursement for equipment used by the Company.

9

PART I - FINANCIAL INFORMATION, CONTINUED:

United States Antimony Corporation and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited), Continued:

10. Related Party Transactions, Continued:

During the three months ended March 31, 2014 and 2013, the Company paid royalty expenses, based on sales of zeolite, of $15,605, and $12,482, respectively, to a company controlled by the estate of Al Dugan, formerly a significant stockholder and the father of a former director.

11. Income Taxes:

The Company had recognized a deferred tax asset of $229,451 as of December 31, 2012. During the year ended December 31, 2013, the Company recognized a valuation allowance equal to 100% of the net deferred tax asset, as management of the Company cannot determine that it is more likely than not the Company will realize the benefit of the net deferred tax asset. The net effect is that the deferred tax asset as of December 31, 2013, and any deferred tax assets that may have been incurred since then, are fully reserved for at March 31, 2014.

12. Stockholder’s Equity:

Issuance of Common Stock for Cash

During the quarter ended March 31, 2014, shareholders exercised their rights to convert warrants into 125,000 shares common stock for $170,000.

Common Stock Warrants

The Company's Board of Directors has the authority to issue stock warrants for the purchase of preferred or unregistered common stock to directors and employees of the Company.

Transactions in common stock warrants are as follows:

	Number of Warrants			Exercise Prices
Balance, December 31, 2012		1,934,667		$	.25 - $4.50
Warrants issued		629,740		$	1.20-$1.60
Warrants exercised		(25,000	)	$	1.20
Warrants expired		(50,000	)	$	4.50
Balance, December 31, 2013		2,489,407		$	0.25 - $4.50
Warrants exercised		(125,000	)	$	1.20-$1.60
Balance, March 31, 2014		2,364,407		$	0.25 - $4.50

The above common stock warrants expire as follows:

2014	1,082,750	-
2015	1,031,657
Thereafter	250,000
	2,364,407

10

PART I - FINANCIAL INFORMATION, CONTINUED:

United States Antimony Corporation and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited), Continued:

13. Business Segments:

The Company is currently organized and managed by three segments, which represent our operating units: United States antimony operations, Mexican antimony operations and United States zeolite operations.  The Company’s Other operating costs include, general and administrative expenses, freight and delivery, and other non-production related costs. Other income and expense consists primarily of interest income and expense and factoring expense.

The Madero smelter and Puerto Blanco mill at the Company’s Mexico operation brings antimony up to an intermediate stage, which is then shipped to the United States operation for finishing and sales at the Thompson Falls, Montana plant. The Zeolite operation produces Zeolite near Preston, Idaho. Almost all of the sales of products from the United States antimony and Zeolite operations are to customers in the United States.

Segment disclosure regarding sales to major customers is located in Notes 9.

	As of March 31, 2014		As of December 31, 2013
Properties, plants and equipment, net:
Antimony
United States	$	1,970,819	$	1,928,442
Mexico		8,901,053		8,792,410
Subtotal Antimony		10,871,872		10,720,852
Zeolite		1,648,948		1,674,793
	$	12,520,820	$	12,395,645

Total Assets:
Antimony
United States	$	3,128,059	$	3,017,768
Mexico		9,857,949		9,668,997
Subtotal Antimony		12,986,008		12,686,765
Zeolite		2,050,207		2,204,225
	$	15,036,215	$	14,890,990

	For the three months ended
Capital expenditures:	March 31, 2014		March 31, 2013
Antimony
United States	$	58,541	$	49,782
Mexico		227,589		389,053
Subtotal Antimony		286,130		438,835
Zeolite		29,057		33,791
Total	$	315,187	$	472,626

11

PART I - FINANCIAL INFORMATION, CONTINUED:

United States Antimony Corporation and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited), Continued:

13. Business Segments, Continued:

Segment Operations for the	Antimony			Antimony			Bear River
Three Months ended March 31, 2014	USAC			Mexico			Zeolite		Totals
Total revenues	$	2,293,865		$	-		$	658,449	$	2,952,314
Production costs		1,427,417			667,706			372,181		2,467,304
Depreciation and amortization		16,165			116,406			54,902		187,473
Other operating costs		393,763			131,890			123,159		648,812
Total operating expenses		1,837,345			916,002			550,242		3,303,589
Income (loss) from operations		456,520			(916,002	)		108,207		(351,275	)
Other income (expense):		(12,631	)		5,451			285		(6,895	)
NET INCOME (LOSS)	$	443,889		$	(910,551	)	$	108,492	$	(358,170	)

Segment Operations for the	Antimony			Antimony			Bear River
Three Months ended March 31, 2013	USAC			Mexico			Zeolite			Totals
Total revenues	$	2,414,224		$	3,000		$	549,551		$	2,966,775
Production costs		1,373,787			867,919			301,808			2,543,514
Depreciation and amortization		15,293			114,884			53,750			183,927
Other operating costs		433,543			70,165			124,263			627,971
Total operating expenses		1,822,623			1,052,968			479,821			3,355,412
Income (loss) from operations		591,601			(1,049,968	)		69,730			(388,637	)
Other income (expense):		(17,601	)		(1,301	)		(1,286	)		(20,188	)
NET INCOME (LOSS)	$	574,000		$	(1,051,269	)	$	68,444		$	(408,825	)

12

PART I - FINANCIAL INFORMATION, CONTINUED:

ITEM 2. Management’s Discussion and Analysis of Results of Operations and Financial Condition

General

This report contains both historical and prospective statements concerning the Company and its operations.  Prospective statements (known as "forward-looking statements") may or may not prove true with the passage of time because of future risks and uncertainties.  The Company cannot predict what factors might cause actual results to differ materially from those indicated by prospective statements.

           Table of Precious Metals Sales

Precious Metals Sales							Quarter 1
Silver/Gold	2011		2012		2013		2014
Ounces Gold Shipped (Au)		161.711		102.319		61.517		21.275
Ounces Silver Shipped (Ag)		17,472.99		20,237.70		23,095.70		9,514.00
Total Revenues	$	667,813	$	647,554	$	369,706	$	156,101

Precious Metals by  Year	MONTANA SOURCE SILVER OZ		MONTANA SOURCE GOLD OZ		MEXICO SOURCE SILVER OZ		MEXICO SOURCE GOLD OZ
2008		8,640.70		37.67
2009		6,870.10		31.80
2010		31,545.22		101.13
2011		17,472.99		161.71
2012		20,237.70		102.32
2013		22,042.46		59.74		1,053.24		1.78
2014 1st Qtr		8,209.02		16.42		1,304.80		4.86

13

PART I - FINANCIAL INFORMATION, CONTINUED:

ITEM 2. Management’s Discussion and Analysis of Results of Operations and FinancialCondition, continued:

Results of Operations by Division:

For the three month periods ended March 31, 2014 and 2013

	1st Qtr			1st Qtr
Antimony - Combined USAand Mexico	2014			2013
Lbs of Antimony Metal USA		289,291			260,421
Lbs of Antimony Metal Mexico:		151,927			147,931
Total Lbs of Antimony Metal Sold		441,218			408,352
Sales Price/Lb Metal	$	4.85		$	5.65
Net income (loss)/Lb Metal	$	(1.06	)	$	(1.17	)
Gross antimony revenue - net of discount		2,137,764			2,305,230
Precious metals revenue		156,101			111,994
Production costs - USA		(1,427,417	)		(1,373,787	)
Product cost - Mexico		(667,706	)		(667,169	)
Direct sales and freight		(62,535	)		(72,146	)
General and administrative - operating		(102,405	)		(115,257	)
Mexico non-production costs		(77,468	)		(200,750	)
General and administrative - non-operating		(297,459	)		(335,828	)
Net interest and gain on sale of asset		7,034			621
EBITDA		(334,091	)		(347,092	)
Depreciation & amortization, net		(132,571	)		(130,177	)
Net income (loss) - antimony	$	(466,662	)	$	(477,269	)
Zeolite
Tons sold		3,350			2,533
Sales Price/Ton	$	196.55		$	216.96
Net income (Loss)/Ton	$	32.39		$	27.02
Gross zeolite revenue		658,449			549,551
Production costs		(372,181	)		(310,048	)
Direct sales and freight		(38,171	)		(46,258	)
Royalties		(69,498	)		(59,567	)
General and administrative		(16,266	)		(12,491	)
Net interest		1,061			1,007
EBITDA		163,394			122,194
Depreciation		(54,902	)		(53,750	)
Net income  (loss) - zeolite	$	108,492		$	68,444
Company-wide
Gross revenue	$	2,952,314		$	2,966,775
Production costs		(2,467,304	)		(2,351,004	)
Other operating costs		(350,077	)		(493,978	)
General and administrative - non-operating		(313,725	)		(348,319	)
Net interest and gain on sale of asset		8,095			1,628
EBITDA		(170,697	)		(224,898	)
Income tax benefit (expense)
Depreciation & amortization		(187,473	)		(183,927	)
Net income (loss)	$	(358,170	)	$	(408,825	)

14

PART I - FINANCIAL INFORMATION, CONTINUED:

ITEM 2. Management’s Discussion and Analysis of Results of Operations and FinancialCondition, continued:

For the first quarter of 2014, we incurred a loss of $358,170 compared to a loss of $408,825 during the same quarter of 2013. The loss in 2014 was primarily due to the decline in the price of antimony metal from $5.65 during quarter 1 of 2013 to $4.85 in 2014, a decrease of $.80 per lb (15%).  The $358,170 loss in the first quarter of 2014 was after non-cash expenses of $185,462 for depreciation and amortization. Our precious metals revenue in the first quarter of 2014 was equivalent to $.35 per pound of antimony sold. The amount of metal produced in Mexico was approximately 152,000 lbs for the first quarter of 2014 compared to approximately 148,000 pounds produced for the first quarter of 2013, an increase of 2.7%.  The production from Mexico would have been greater except for additional permits needed to operate new equipment and to use explosives at the Soyatal, and Gaudalupe mining properties.  The operator of the Guadalupe property received an explosives permit subsequent to September 30, 2013, and expects to significantly increase their output of feed to our mill at Puerto Blanco during 2014.  Overall, the pounds of antimony produced and sold was up approximately 33,000 lbs ($186,000), or 8%, from the same quarter in the prior year, but the sales price per pound was down approximately $.80 ($366,000), or 15%, from the prior year quarter.  Antimony oxide prices have now fallen from a high of $8.11 per lb in 2011, to $4.29 per lb at March 31, 2014.  The cost of production in the USA was up by approximately $54,000 from the same quarter in the prior year, primarily due to the increase in the price of propane fuel for our furnaces. The non-production costs in Mexico of $77,468 for the three months ended March 31, 2014, were down from $200,750 the same period a year ago, a decrease of 61%.  The decrease was a result of better performance at our Mexican mining operations.  Our operating expenses in Mexico included depreciation and amortization charges of $116,406. We now have approximately two months of smelter feed stockpiled and paid for, and we are increasing our furnace capacity at our Madero smelter to catch up with our increased raw material production. The increase in production in Mexico was made despite continuing permit restrictions at the mining properties and the installation and testing of new Los Juarez precious metals smelting equipment.  Our efforts in Mexico are resulting in increased product that will be shipped to our Montana plant.  In addition, we expect to have increased revenue from precious metals from our Mexico division.

We contracted in July, 2012, to install a natural gas pipeline for our Mexico smelter operation that we now expect to cost $1.8MM in total.  Our fuel costs are our largest expense in Mexico, and we are expecting the switch from propane to natural gas to decrease our Mexico fuel costs by 75% when the pipeline is complete.  The pipeline is substantially completed, and hookup by PEMEX should be finalized by June 1, 2014.

Zeolite sales for the quarter ending March 31, 2014, increased by approximately $109,000 compared to the same period in 2013.  The first quarter of 2014 realized a net profit of approximately $108,000 compared to a net profit of approximately $68,000 for the first quarter of 2013, an increase of 58.8%. The sales price decreased by approximately $20 per ton from the same period of the prior year.  There was an increase in the tons of zeolite sold of approximately 800 tons for the quarter ended March 31, 2014, over the comparable period for 2013, an increase of 32%.  We have installed new equipment at BRZ to produce a water filtration product that could represent a major market.

 Our general and administrative costs were lower for the three months ended March 31, 2014, than the same period for prior year, but management is still seeking ways to bring these costs down.

15

PART I - FINANCIAL INFORMATION, CONTINUED:

ITEM 2. Management’s Discussion and Analysis of Results of Operations and FinancialCondition, continued:

Financial Condition and Liquidity
	March 31, 2014			December 31, 2013
Current Assets	$	1,887,664		$	1,910,564
Current liabilities		(3,039,513	)		(2,479,341	)
Net Working Capital	$	(1,151,849	)	$	(568,777	)
Cash provided (used) by operations	$	38,629		$	234,820
Cash used for capital outlay and investment		(296,147	)		(2,733,762	)
Cash provided (used) by financing:
Proceeds from notes payable to bank		15,983			138,520
Principal paid on long-term debt		(31,136	)		(273,405	)
Proceeds from long-term debt		50,000			352,000
Sale of Stock		170,000			1,147,194
Other		37,179			154,165
Net change in cash	$	(15,492	)	$	(980,468	)

Our net working capital decreased by approximately $583,000 from December 31, 2013.  Our cash decreased by approximately $15,000 during the same period.  The decrease in our net working capital was primarily due to approximately $316,000 of capital expenditures, a $170,000 EBITDA loss, a decrease in accounts receivable of approximately $297,000 and $31,000 paid on long-term debt. Approximately $170,000 cash from the sale of stock, $354,000 from a decrease in inventory, $69,000 borrowing, and the net increase of approximately $460,000 in current liabilities provided cash.  We have estimated commitments for construction and improvements, including $150M for the natural gas pipeline, of approximately $350M over the next twelve months. We believe that with our current cash balance, along with the future cash flow from operations, we have adequate liquid assets to meet these commitments and service our debt for the next twelve months.  We have lines of credit of $202,000 which have been drawn down by $154,503 at March 31, 2014.

      ITEM 3. Quantitative and Qualitative Disclosure about Market Risk

We sell our antimony products based on a world market price, and we buy a majority of our raw material based on the same market prices.  Analysis of our costs indicate that, for the quarter ended March 31, 2014, raw materials were approximately 50% of our cost of goods sold.  Most of our production costs are fixed in nature, and could not be decreased readily without decreasing our production.  During the quarter ending March 31, 2014, a $2 per pound decrease in our sales price would have likely caused our gross profit to decrease $1 per pound.

16

PART I - FINANCIAL INFORMATION, CONTINUED:

ITEM 4.  Controls and Procedures

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to management, as appropriate, to allow timely decisions regarding required disclosure. Our chief financial officer conducted an evaluation of the effectiveness of the Company's disclosure controls and procedures (as defined in the Securities Exchange Act of 1934 Rules

13a-15(e) and 15d-15(e)) as of March 31, 2014.  It was determined that there were material weaknesses affecting our disclosure controls and procedures and, as a result of those weaknesses, our disclosure controls and procedures were not effective as of March 31, 2014. These material weaknesses are as follows:

●   The Company lacks proper segregation of duties. As with any company the size of ours, this lack of segregation of duties is due to limited resources. The president authorizes the majority of the expenditures and signs checks.

●   During our year-end audit, our independent registered accountants discovered material misstatements in our financial statements that required audit adjustments.

MANAGEMENT'S REMEDIATION INITIATIVES

We are aware of these material weaknesses and have procedures to ensure that independent review of material transactions is performed.  We have internal control measures to mitigate the lack of segregation of duties as follows:

●   The CFO reviews all bank reconciliations

●   The CFO reviews all material transactions for capital expenditures

●   The CFO reviews all period ending entries for preparation of financial statements, including the calculation of inventory, depreciation, and amortization

●   The CFO review all material entries for compliance with generally accepted accounting principles prior to the annual audit and 10Q filings

●   The Company has a formal capitalization policy

●   In addition, we consult with independent experts when complex transactions are entered into.

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING

There were no significant changes made to internal controls for the quarter ended March 31, 2014.

17

PART II - OTHER INFORMATION

Item 1. LEGAL PROCEEDINGS

None

PART II - OTHER INFORMATION, CONTINUED:

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Issuance of Common Stock for Cash

During the quarter ended March 31, 2014, shareholders exercised their rights to convert warrants into 125,000 shares common stock for $174,000.  An adjustment to accrued offering costs for $5,716 was made for the quarter ended March 31, 2014.

Item 3. DEFAULTS UPON SENIOR SECURITIES

The registrant has no outstanding senior securities.

Item 4. MINE SAFETY DISCLOSURES

The information concerning mine safety violations or other regulatory matters required by Section 1503 (a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K is included in Exhibit 95 to this Annual Report.

Item 5. OTHER INFORMATION

None

Item 6. EXHIBITS AND REPORTS ON FORM 8-K

Certifications

Certifications Pursuant to the Sarbanes-Oxley Act

Reports on Form 8-KNone

18

SIGNATURES

Pursuant to the requirements of Section 13 or 15(b) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

UNITED STATES ANTIMONY CORPORATION

(Registrant)

May 7, 2014	By:	/s/ John C. Lawrence
		John C. Lawrence, Director and President
		(Principal Executive)
	By:	/s/ Daniel L. Parks
		Daniel L. Parks, Chief Financial Officer
	By:	/s/ Alicia Hill
		Alicia Hill, Controller

19

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, John C. Lawrence, President and Chief Executive Officer, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of United States Antimony Corporation.

2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.   Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.   I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))for the registrant and have:

(a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

(b)   Designed such internal control over financial reporting or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)   Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)   Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.   I have disclosed, based on my most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

/s/ John C. Lawrence                                                                                  Date:              May 7, 2014

John C. Lawrence

President and Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATIONS

I, Daniel L. Parks, Chief Financial Officer, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of United States Antimony Corporation.

2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.   Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.   I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))for the registrant and have:

a.   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

b.   Designed such internal control over financial reporting or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.   Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.   Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.   I have disclosed, based on my most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

/s/ Daniel L. Parks                                                                                  Date:              May 7, 2014

Daniel L. Parks

Chief Financial Officer

EX-31.3

Exhibit 31.3

CERTIFICATIONS

I, Alicia Hill, Controller, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of United States Antimony Corporation.

2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.   Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.   I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))for the registrant and have:

a.   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;

b.   Designed such internal control over financial reporting or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.   Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.   Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.   I have disclosed, based on my most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

/s/ Alicia Hill                                                                    Date:              May 7, 2014

Alicia Hill

Controller

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO THE SARBANES-OXLEY ACT

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

I, John C. Lawrence, President, and Chief Executive Officer of United States Antimony Corporation (the "Company") do hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

This Quarterly Report on Form 10-Q of the Company for the fiscal quarter ended March 31, 2014, as filed with the Securities and Exchange Commission (the "report"), fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

The information contained in the report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ John C. Lawrence                                                                                                             Date:              May 7, 2014

John C. Lawrence

President and Chief Executive Officer

EX-32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO THE SARBANES-OXLEY ACT

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

I, Daniel L. Parks, Chief Financial Officer of United States Antimony Corporation (the "Company") do hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

This Quarterly Report on Form 10-Q of the Company for the fiscal quarter ended March 31, 2014, as filed with the Securities and Exchange Commission (the "report"), fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

The information contained in the report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Daniel L. Parks                                                                                                             Date:              May 7, 2014

Daniel L. Parks

Chief Financial Officer

EX-32.3

EXHIBIT 32.3

CERTIFICATION PURSUANT TO THE SARBANES-OXLEY ACT

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

I, Alicia Hill, Chief Financial Officer of United States Antimony Corporation (the "Company") do hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

This Quarterly Report on Form 10-Q of the Company for the fiscal quarter ended March 31,2014, as filed with the Securities and Exchange Commission (the "report"), fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

The information contained in the report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Alicia Hill                                                                                                Date:              May 7, 2014

Alicia Hill

Controller

EX-95

    UNITED STATES ANTIMONY CORPORATION POST OFFICE BOX 643 THOMPSON FALLS, MONTANA  59873-0643 406-827-3523 406-827-3543 FAX tfl3543@blackfoot.net E-MAIL

Exhibit 95  MINE SAFETY DISCLOSURES

Pursuant to Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”), issuers that are operators, or that have a subsidiary that is an operator, of a coal or other mine in the United States are required to disclose in their periodic reports filed with the SEC information regarding specified health and safety violations, orders and citations, related assessments and legal actions, and mining-related fatalities. During the three month period ended march 31, 2014, the Company had no material specified health and safety violations, orders or citations, related assessments or legal actions, mining-related fatalities, or similar events in relation to the Company’s United States operations requiring disclosure pursuant to Section 1503(a) of the Dodd-Frank Act.

Mine

Mine Act §104(a) Violations (1)

Mine Act §104(b) Orders (2)

Mine Act §104(d) Citations and Orders (3)

Mine Act §(b)(2) Violations (4)

Mine Act §107(a) Orders (5)

Proposed Assessments from MSHA (In dollars$)

Mining Related Fatalities

Mine Act §104(e) Notice (yes/no) (6)

Pending Legal Action before Federal Mine Saftey and Health Review Commission (yes/no)

Bear River Zeolite

0

0

0

0

0

$

0.00

0

No

No

XML

13. Business Segments (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Properties, plants and equipment, net	$ 12,520,820	$ 12,395,645
Total Assets	15,036,215	14,890,991
United States Antimony [Member]
Properties, plants and equipment, net	1,970,819	1,928,442
Total Assets	3,128,059	3,017,768
Mexico Antimony [Member]
Properties, plants and equipment, net	8,901,053	8,792,410
Total Assets	9,857,949	9,668,997
Subtotal Antimony [Member]
Properties, plants and equipment, net	10,871,872	10,720,852
Total Assets	12,986,008	12,686,765
Zeolite [Member]
Properties, plants and equipment, net	1,648,948	1,674,793
Total Assets	$ 2,050,207	$ 2,204,225

XML

8. Long - Term Debt (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Total debt	$ 1,167,103	$ 1,129,199
Less current portion	(399,391)	(126,984)
Noncurrent portion	767,712	1,002,215
BMT Leasing
Total debt	16,029	0
ThermFisherFinancialServices [Member]
Total debt	0	5,583
StearnsBank [Member]
Total debt	34,459	41,117
WesternStatesEquipmentCo [Member]
Total debt	29,276	34,861
Catepillar Finance [Member]
Total debt	14,963	16,440
De Lage Landen Financial Services [Member]
Total debt	13,089	13,945
PhyllisRice [Member]
Total debt	31,808	33,808
De Lage Landen Financial Services 1 [Member]
Total debt	7,548	8,797
CatepillarFinance1 [Member]
Total debt	4,518	5,921
De Lage Landen Financial Services 2 [Member]
Total debt	2,872	4,186
SoyatalMine [Member]
Total debt	762,541	762,541
Robert Detwiler
Total debt	50,000	0
Robert Detwiler 1
Total debt	80,000	82,000
Betsy Detwiler
Total debt	$ 120,000	$ 120,000

XML

12. Stockholder's Equity (Tables)

3 Months Ended

Mar. 31, 2014

Equity [Abstract]

Common Stock Warrant

	Number of Warrants			Exercise Prices
Balance, December 31, 2012		1,934,667		$	.25 - $4.50
Warrants issued		629,740		$	1.20-$1.60
Warrants exercised		(25,000	)	$	1.20
Warrants expired		(50,000	)	$	4.50
Balance, December 31, 2013		2,489,407		$	0.25 - $4.50
Warrants exercised		(125,000	)	$	1.20-$1.60
Balance, March 31, 2014		2,364,407		$	0.25 - $4.50

Warrants Maturity

2014	1,082,750	-
2015	1,031,657
Thereafter	250,000
	2,364,407

XML

10. Related Party Transactions (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Chief Executive Officer [Member]
Related Party Transactions	$ 3,732	$ 23,085
Director [Member]
Related Party Transactions	$ 15,605	$ 12,482

XML

4. Accounts Receivable and Due to Factor

3 Months Ended

Mar. 31, 2014

Notes to Financial Statements

Accounts Receivable and Due to Factor

The Company factors designated trade receivables pursuant to a factoring agreement with LSQ Funding Group L.C., an unrelated factor (the “Factor”).  The agreement specifies that eligible trade receivables are factored with recourse. We submit selected trade receivables to the factor, and receive 83% of the face value of the receivable by wire transfer. The Factor withholds 15% as retainage, and 2% as a servicing fee.  Upon payment by the customer, we receive the remainder of the amount due from the factor.  The 2% servicing fee is recorded on the consolidated statement of operations in the period of sale to the factor. John Lawrence, CEO, is a personal guarantor of the amount due to Factor. 

Trade receivables assigned to the Factor are carried at the original invoice amount less an estimate made for doubtful accounts.  Under the terms of the recourse provision, the Company is required to reimburse the Factor, upon demand, for factored receivables that are not paid on time.  Accordingly, these receivables are accounted for as a secured financing arrangement and not as a sale of financial assets.  The allowance for doubtful accounts is based on management’s regular evaluation of individual customer’s receivables and consideration of a customer’s financial condition and credit history.  Trade receivables are written off when deemed uncollectible.  Recoveries of trade receivables previously written off are recorded when received.  Interest is not charged on past due accounts.

We present the receivables, net of allowances, as current assets and we present the amount potentially due to the Factor as a secured financing in current liabilities.

Accounts Receivable	March 31, 2014			December 31, 2013
Accounts receivable - non factored	$	658,669		$	402,351
Accounts receivable - factored with recourse		218,223			177,701
less allowance for doubtful accounts		(4,031	)		(4,031	)
Accounts receivable - net	$	872,861		$	576,021

XML

3. Inventories (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Inventories	$ 680,685	$ 1,034,770
Antimony Metal [Member]
Inventories	45,522	33,850
Antimony Oxide [Member]
Inventories	268,557	535,251
Antimony Concentrates
Inventories	134,043	93,190
Antimony Ore [Member]
Inventories	120,643	106,519
Antimony [Member]
Inventories	568,765	768,810
Zeolite [Member]
Inventories	$ 111,920	$ 265,960

XML

2. Income (Loss) Per Common Share (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net loss per share of common stock:
Warrants	2,364,407	1,934,667
Convertible preferred stock	1,751,005	1,751,005
Total possible dilution	4,115,412	3,685,672

XML

4. Accounts Receivable and Due to Factor (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Accounts Receivable And Due To Factor Tables
Accounts receivable - non factored	$ 658,669	$ 402,351
Accounts receivable - factored with recourse	218,223	177,701
Less allowance for doubtful accounts	(4,031)	(4,031)
Accounts receivable - net	$ 872,861	$ 576,021

XML

6. Commitments and Contingencies (Details Narrative) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Payments paid for capitalized mineral rights	$ 0	$ 130,434
Other accrued liabilities	$ 7,909

XML

3. Inventories

3 Months Ended

Mar. 31, 2014

Inventory Disclosure [Abstract]

Inventories

Inventories at March 31, 2014, and December 31, 2013, consisted primarily of finished antimony products, antimony metal, antimony ore, and finished zeolite products that are stated at the lower of first-in, first-out cost or estimated net realizable value. Finished antimony products, antimony metal and finished zeolite products costs include raw materials, direct labor and processing facility overhead costs and freight. Inventory at March 31, 2014 and December 31, 2013, is as follows:

	March 31, 2014		December 31, 2013
Antimony Metal	$	45,522	$	33,850
Antimony Oxide		268,557		535,251
Antimony Concentrate		134,043		93,190
Antimony Ore		120,643		106,519
Total antimony		568,765		768,810
Zeolite		111,920		265,960
	$	680,685	$	1,034,770

XML

7. Notes Payable to Bank (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Promissory note payable to First Security Bank of Missoula, bearing interest at 5.0%, maturing February 27, 2016, payable on demand, collateralized by a lien on Certificate of Deposit	$ 154,503	$ 138,520
Promissory note payable CD 48614
Promissory note payable to First Security Bank of Missoula, bearing interest at 5.0%, maturing February 27, 2016, payable on demand, collateralized by a lien on Certificate of Deposit	73,606	70,952
Promissory note payable CD 48615
Promissory note payable to First Security Bank of Missoula, bearing interest at 5.0%, maturing February 27, 2016, payable on demand, collateralized by a lien on Certificate of Deposit	$ 80,897	$ 67,568

XML

13. Business Segments (Details 1) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Capital Expenditure	$ 315,187	$ 472,626
United States Antimony [Member]
Capital Expenditure	58,541	49,782
Mexico Antimony [Member]
Capital Expenditure	227,589	389,053
Subtotal Antimony [Member]
Capital Expenditure	286,130	438,835
Zeolite [Member]
Capital Expenditure	$ 29,057	$ 33,791

XML

Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 4,851	$ 20,343
Certificates of deposit	248,915	246,565
Accounts receivable, net	872,861	576,021
Inventories	680,685	1,034,770
Other current assets	80,352	32,865
Total current assets	1,887,664	1,910,564
Properties, plants and equipment, net	12,520,820	12,395,645
Restricted cash for reclamation bonds	75,501	75,501
Other assets	552,230	509,281
Total assets	15,036,215	14,890,991
Current liabilities:
Checks issued and outstanding	37,179	0
Accounts payable	1,943,813	1,734,767
Due to factor	218,223	177,701
Accrued payroll, taxes and interest	138,865	124,937
Other accrued liabilities	53,935	50,745
Payables to related parties	1,466	15,549
Deferred revenue	92,138	110,138
Notes payable to bank	154,503	138,520
Long-term debt, current portion	399,391	126,984
Total current liabilities	3,039,513	2,479,341
Long-term debt, net of current portion	767,712	1,002,215
Stock payable to directors for services	150,000	150,000
Asset retirement obligation and accrued reclamation costs	259,590	257,580
Total liabilities	4,216,815	3,889,136
Stockholders' equity:
Preferred stock $0.01 par value, 10,000,000 shares authorized: Series A: -0- shares issued and outstanding	0	0
Series B: 750,000 shares issued and outstanding (liquidation preference $892,500 and $885,000, respectively)	7,500	7,500
Series C: 177,904 shares issued and outstanding (liquidation preference $97,847)	1,779	1,779
Series D: 1,751,005 shares issued and outstanding (liquidation preference $4,796,731)	17,509	17,509
Common stock, $0.01 par value, 90,000,000 shares authorized; 63,281,206 and 63,156,206 shares issued and outstanding, respectively	632,812	631,562
Additional paid-in capital	32,204,714	32,030,249
Accumulated deficit	(22,044,914)	(21,686,744)
Total stockholders' equity	10,819,400	11,001,855
Total liabilities and stockholders' equity	$ 15,036,215	$ 14,890,991

XML

1. Basis of Presentation

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Basis of Presentation

The unaudited consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, as well as the instructions to Form 10-Q.  Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim financial statements have been included. Operating results for the three month periods ended March 31, 2014, are not necessarily indicative of the results that may be expected for the full year ending December 31, 2014.

Reclassifications

Certain consolidated financial statement amounts for the three month periods ended March 31, 2013, have been reclassified to conform to the 2014 presentation.  These reclassifications had no effect on the net income (loss) or accumulated deficit as previously reported.

Management estimates their effective tax rate at 0% for the current year.

For further information refer to the financial statements and footnotes thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

During the three months ended March 31, 2014 and 2013, the Company incurred interest expense of $11,689 and $6,058, respectively, of which $11,575, and $4,597, respectively, has been capitalized as part of the cost of construction projects in Mexico.

XML

9. Concentrations of Risk (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Sales to Three Largest Customers	$ 2,067,048	$ 1,971,501
Total percentage of revenue	70.10%	66.50%
AlphaGaryCorporation [Member]
Sales to Three Largest Customers	1,142,850	1,063,716
General Electric [Member]
Sales to Three Largest Customers	0	195,300
KohlerCorporation [Member]
Sales to Three Largest Customers	778,766	712,485
Teck American, Inc.
Sales to Three Largest Customers	$ 145,432	$ 0

XML

7. Notes Payable to Bank (Tables)

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Summary of notes payable to bank

	March 31,		December 31,
	2014		2013
Promissory note payable to First Security Bank of Missoula, bearing interest at 5.0%, maturing February 27, 2016, payable on demand, collateralized by a lien on Certificate of Deposit number 48614	$	73,606	$	70,952
Promissory note payable to First Security Bank of Missoula, bearing interest at 5.0%, maturing February 27, 2016, payable on demand, collateralized by a lien on Certificate of Deposit number 48615		80,897		67,568
Total notes payable to bank	$	154,503	$	138,520

XML

9. Concentrations of Risk (Details1) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Accounts Receivable	$ 645,192	$ 333,126
Total percentage of receivables	74.00%	57.83%
KohlerCorporation [Member]
Accounts Receivable	383,589	202,019
Commerce Industrial Chemical
Accounts Receivable	57,715	0
AlphaGaryCorporation [Member]
Accounts Receivable	0	42,778
Teck American, Inc.
Accounts Receivable	$ 203,888	$ 88,329

XML

9. Concentration of Risk (Tables)

3 Months Ended

Mar. 31, 2014

Concentration Of Risk Tables

Major Customers Revenue Details

	For the Period Ended
Sales to Three Largest Customers	March 31, 2014			March 31, 2013
Alpha Gary Corporation	$	1,142,850		$	1,063,716
General Electric		-			195,300
Kohler Corporation		778,766			712,485
Teck American, Inc.		145,432			-
	$	2,067,048		$	1,971,501
% of Total Revenues		70.10	%		66.50	%

Three Largest Accounts Receivable	March 31, 2014			December 31, 2013
Kohler Corporation	$	383,589		$	202,019
Commerce Industrial Chemical		57,715			-
Alpha Gary Corporation		-			42,778
Teck American, Inc.		203,888			88,329
	$	645,192		$	333,126
% of Total Receivables		74.00	%		57.83	%

XML

2. Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2014

Net loss per share of common stock:

Income (Loss) Per Common Share

Basic earnings per share is calculated by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period.  Diluted earnings per share is calculated based on the weighted average number of common shares outstanding during the period plus the effect of potentially dilutive common stock equivalents, including warrants to purchase the Company's common stock and convertible preferred stock.  Management has determined that the calculation of diluted earnings per share for the three month periods ended March 31, 2014 and March 31, 2013, is not applicable since any additions to outstanding shares related to common stock equivalents would be anti-dilutive.

As of March 31, 2014 and 2013, the potentially dilutive common stock equivalents not included in the calculation of diluted earnings per share as their effect would have been anti-dilutive are as follows:

	3/31/2014		3/31/2013
Warrants		2,364,407		1,934,667
Convertible preferred stock		1,751,005		1,751,005
Total possible dilution		4,115,412		3,685,672

XML

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Stockholders' equity:
Series A Preferred stock, par value	$ 0.01	$ 0.01
Series A Preferred stock, authorized shares	10,000,000	10,000,000
Series A Preferred stock, issued shares	0	0
Series A Preferred stock, outstanding shares	0	0
Series B Preferred stock, par value	$ 0.01	$ 0.01
Series B Preferred stock, authorized shares	10,000,000	10,000,000
Series B Preferred stock, issued shares	750,000	750,000
Series B Preferred stock, outstanding shares	750,000	750,000
Series B liquidation preference	$ 892,500	$ 885,000
Series C Preferred stock, par value	$ 0.01	$ 0.01
Series C Preferred stock, authorized shares	10,000,000	10,000,000
Series C Preferred stock, issued shares	177,904	177,904
Series C Preferred stock, outstanding shares	177,904	177,904
Series C liquidation preference	97,847	97,847
Series D Preferred stock, par value	$ 0.01	$ 0.01
Series D Preferred stock, authorized shares	10,000,000	10,000,000
Series D Preferred stock, issued shares	1,751,005	1,751,005
Series D Preferred stock, outstanding shares	1,751,005	1,751,005
Series D liquidation preference	$ 4,796,731	$ 4,755,582
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	90,000,000	90,000,000
Common stock, issued shares	63,281,206	63,156,206
Common stock, outstanding shares	63,281,206	63,156,206

XML

12. Stockholder's Equity

3 Months Ended

Mar. 31, 2014

Equity [Abstract]

Stockholder's Equity

Issuance of Common Stock for Cash

During the quarter ended March 31, 2014, shareholders exercised their rights to convert warrants into 125,000 shares common stock for $170,000.

Common Stock Warrants

The Company's Board of Directors has the authority to issue stock warrants for the purchase of preferred or unregistered common stock to directors and employees of the Company.

Transactions in common stock warrants are as follows:

	Number of Warrants			Exercise Prices
Balance, December 31, 2012		1,934,667		$	.25 - $4.50
Warrants issued		629,740		$	1.20-$1.60
Warrants exercised		(25,000	)	$	1.20
Warrants expired		(50,000	)	$	4.50
Balance, December 31, 2013		2,489,407		$	0.25 - $4.50
Warrants exercised		(125,000	)	$	1.20-$1.60
Balance, March 31, 2014		2,364,407		$	0.25 - $4.50

The above common stock warrants expire as follows:

2014	1,082,750	-
2015	1,031,657
Thereafter	250,000
	2,364,407

XML

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	May 07, 2014
Document And Entity Information
Entity Registrant Name	UNITED STATES ANTIMONY CORP
Entity Central Index Key	0000101538
Document Type	10-Q
Document Period End Date	Mar. 31, 2014
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		63,364,540
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2014

XML

13. Business Segments

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Business Segments

The Company is currently organized and managed by three segments, which represent our operating units: United States antimony operations, Mexican antimony operations and United States zeolite operations.  The Company’s Other operating costs include, general and administrative expenses, freight and delivery, and other non-production related costs. Other income and expense consists primarily of interest income and expense and factoring expense.

The Madero smelter and Puerto Blanco mill at the Company’s Mexico operation brings antimony up to an intermediate stage, which is then shipped to the United States operation for finishing and sales at the Thompson Falls, Montana plant. The Zeolite operation produces Zeolite near Preston, Idaho. Almost all of the sales of products from the United States antimony and Zeolite operations are to customers in the United States.

Segment disclosure regarding sales to major customers is located in Note 9.

	As of March 31, 2014		As of December 31, 2013
Properties, plants and equipment, net:
Antimony
United States	$	1,970,819	$	1,928,442
Mexico		8,901,053		8,792,410
Subtotal Antimony		10,871,872		10,720,852
Zeolite		1,648,948		1,674,793
	$	12,520,820	$	12,395,645

Total Assets:
Antimony
United States	$	3,128,059	$	3,017,768
Mexico		9,857,949		9,668,997
Subtotal Antimony		12,986,008		12,686,765
Zeolite		2,050,207		2,204,225
	$	15,036,215	$	14,890,990

	For the three months ended
Capital expenditures:	March 31, 2014		March 31, 2013
Antimony
United States	$	58,541	$	49,782
Mexico		227,589		389,053
Subtotal Antimony		286,130		438,835
Zeolite		29,057		33,791
Total	$	315,187	$	472,626

Segment Operations for the	Antimony			Antimony			Bear River
Three Months ended March 31, 2014	USAC			Mexico			Zeolite		Totals
Total revenues	$	2,293,865		$	-		$	658,449	$	2,952,314
Production costs		1,427,417			667,706			372,181		2,467,304
Depreciation and amortization		16,165			116,406			54,902		187,473
Other operating costs		393,763			131,890			123,159		648,812
Total operating expenses		1,837,345			916,002			550,242		3,303,589
Income (loss) from operations		456,520			(916,002	)		108,207		(351,275	)
Other income (expense):		(12,631	)		5,451			285		(6,895	)
NET INCOME (LOSS)	$	443,889		$	(910,551	)	$	108,492	$	(358,170	)

Segment Operations for the	Antimony			Antimony			Bear River
Three Months ended March 31, 2013	USAC			Mexico			Zeolite			Totals
Total revenues	$	2,414,224		$	3,000		$	549,551		$	2,966,775
Production costs		1,373,787			867,919			301,808			2,543,514
Depreciation and amortization		15,293			114,884			53,750			183,927
Other operating costs		433,543			70,165			124,263			627,971
Total operating expenses		1,822,623			1,052,968			479,821			3,355,412
Income (loss) from operations		591,601			(1,049,968	)		69,730			(388,637	)
Other income (expense):		(17,601	)		(1,301	)		(1,286	)		(20,188	)
NET INCOME (LOSS)	$	574,000		$	(1,051,269	)	$	68,444		$	(408,825	)

XML

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Income Statement [Abstract]
REVENUES	$ 2,952,314	$ 2,966,775
COST OF REVENUES	3,004,854	3,028,909
GROSS PROFIT (LOSS)	(52,540)	(62,134)
OPERATING EXPENSES:
General and administrative	207,497	224,518
Professional fees	91,238	101,985
Gain on sale of equipment	(5,450)	0
TOTAL OPERATING EXPENSES	293,285	293,285
LOSS FROM OPERATIONS	(345,825)	(355,419)
OTHER INCOME (EXPENSE):
Interest income	2,758	3,089
Interest expense	(114)	(1,461)
Factoring expense	(14,989)	(21,816)
TOTAL OTHER INCOME (EXPENSE)	(12,345)	(20,188)
NET LOSS	$ (358,170)	$ (408,825)
Net loss per share of common stock:
Basic and Diluted	$ (0.01)	$ (0.01)
Weighted average shares outstanding :
Basic and Diluted	63,224,806	61,896,726

XML

7. Notes Payable to Bank

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

7. Notes Payable to Bank

During 2012, the Company negotiated a new credit facility increasing the Company’s lines of credit by $202,000.  As part of this agreement, the Company has pledged two $101,000 certificates of deposit as collateral.  The increased loan facility allows us access to borrowings at an interest rate of 5.0% for the portion of the credit line used.  At March 31, 2014, we had drawn $154,503 which was reported as notes payable to bank.

At March 31, 2014 and December 31, 2013, the Company had the following notes payable to the bank:

	March 31,		December 31,
	2014		2013
Promissory note payable to First Security Bank of Missoula, bearing interest at 5.0%, maturing February 27, 2016, payable on demand, collateralized by a lien on Certificate of Deposit number 48614	$	73,606	$	70,952
Promissory note payable to First Security Bank of Missoula, bearing interest at 5.0%, maturing February 27, 2016, payable on demand, collateralized by a lien on Certificate of Deposit number 48615		80,897		67,568
Total notes payable to bank	$	154,503	$	138,520

These notes are personally guaranteed by John C. Lawrence the Company’s President and Chairman of the Board of Directors.

XML

6. Commitments and Contingencies

3 Months Ended

Mar. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

In 2005, AM signed an option agreement that gives AM the exclusive right to explore and develop the San Miguel I and San Miguel II concessions for annual payments.  Total payments will not exceed $1,430,344, reduced by taxes paid.  During the three months ended March 31, 2014 and the year ended December 31, 2013, $0 and $130,434, respectively, was paid and capitalized as mineral rights in accordance with the Company’s accounting policies.  At March 31, 2014, approximately $450,000 of option payments are scheduled to be paid in June 2014.

From time to time, the Company is assessed fines and penalties by the Mine Safety and Health Administration (“MSHA”). Using appropriate regulatory channels, management may contest these proposed assessments. The Company has accrued $7,909 of liabilities in other accrued liabilities as of March 31, 2014 related to such assessments.

In June of 2013 the Company entered into a lease to mine antimony ore from concessions located in the Wadley Mining district in Mexico.  The lease calls for a mandatory term of one year and requires payments of $34,800 per month.  The lease is renewable each year with a 15 day notice to the lessor, and agreement of terms.

XML

8. Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Long - Term Debt

Long-Term debt at March 31, 2014 and December 31, 2013, is as follows:	March 31.			December 31,
	2014			2013
Note payable to BMT Leasing, bearing interest at 6.9%; payable in monthly installments of $3,555; maturing December 2014; collateralized by equipment.	$	16,029		$	-
Note payable to Thermo Fisher Financial Co., bearing interest at 8.54%; payable in monthly installments of $2,792; maturing December 2013; collateralized by equipment.		-			5,583
Note payable to Stearns Bank, bearing interest at 6.9%; payable in monthly installments of $3,555; maturing December 2014; collateralized by equipment.		34,459			41,117
Note payable to Western States Equipment Co., bearing interest at 6.15%; payable in monthly installments of $2,032; maturing June 2015; collateralized by equipment.		29,276			34,861
Note payable to Catepillar Financial, bearing interest at 5.95%; payable in monthly installments of $827; maturing September 2015; collateralized by equipment.		14,963			16,440
Note payable toDe Lage Landen Financial Services, bearing interest at 5.30%; payable in monthly installments of $549; maturing  March 2016; collateralized by equipment.		13,089			13,945
Note payable to Phyllis Rice, bearing interest at 1%; payable in monthly installments of $2,000; maturing March 2015; collateralized by equipment.		31,808			33,808
Note payable to De Lage Landen Financial Services, bearing interest at 5.12%; payable in monthly installments of $697; maturing December 2014; collateralized by equipment.		7,548			8,797
Note payable to Catepillar Financial, bearing interest at 6.15%; payable in monthly installments of $766; maturing August 2014; collateralized by equipment.		4,518			5,921
Note payable to De Lage Landen Financial Services, bearing interest at 5.28%; payable in monthly installments of $709; maturing June 2014; collateralized by equipment.		2,872			4,186
Obligation payable for Soyatal Mine, non-interest bearing, annual payments of $200,000  through 2019, net of discount of $212,048		762,541			762,541
Note payable to Robert Detwiler, a shareholder, bearing interest at 10.0%, due January 31, 2016; collateralized by equipment.		50,000
Note payable to Robert Detwiler, a shareholder, bearing interest at 10.0%, due January 2, 2015; collateralized by equipment.		80,000			82,000
Note payable to Betsy Detwiler, a shareholder, bearing interest at 10.0%, due January 2, 2015; monthly payments of $1,000;collateralized by equipment.		120,000			120,000
		1,167,103			1,129,199
Less current portion		(399,391	)		(126,984	)
Long-term portion	$	767,712		$	1,002,215

At March 31, 2014, principal payments on debt are due as follows:

Due by March 31,
2015		399,391
2016		119,032
2017		60,952
2018		139,199
2019		172,962
2020		183,339
2021		92,228
	$	1,167,103

XML

2. Income (Loss) Per Common Share (Tables)

3 Months Ended

Mar. 31, 2014

Net loss per share of common stock:

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

	3/31/2014		3/31/2013
Warrants		2,364,407		1,934,667
Convertible preferred stock		1,751,005		1,751,005
Total possible dilution		4,115,412		3,685,672

XML

10. Related Party Transactions

3 Months Ended

Mar. 31, 2014

Related Party Transactions [Abstract]

Related Party Transactions

During the three months ended March 31, 2014 and 2013, the Chairman of the audit committee and compensation committee received $9,000 and $9,000, respectively, for services performed.

During the three months ended March 31, 2014 and 2013, the Company paid $3,732  and $23,085, respectively, to John Lawrence, our President and Chief Executive Officer, as reimbursement for equipment used by the Company.

During the three months ended March 31, 2014 and 2013, the Company paid royalty expenses, based on sales of zeolite, of $15,605, and $12,482, respectively, to a company controlled by the estate of Al Dugan, formerly a significant stockholder and the father of a former director.

XML

8. Long-Term Debt

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Long - Term Debt

Long-Term debt at March 31, 2014 and December 31, 2013, is as follows:	March 31.			December 31,
	2014			2013
Note payable to BMT Leasing, bearing interest at 6.9%; payable in monthly installments of $3,555; maturing December 2014; collateralized by equipment.	$	16,029		$	-
Note payable to Thermo Fisher Financial Co., bearing interest at 8.54%; payable in monthly installments of $2,792; maturing December 2013; collateralized by equipment.		-			5,583
Note payable to Stearns Bank, bearing interest at 6.9%; payable in monthly installments of $3,555; maturing December 2014; collateralized by equipment.		34,459			41,117
Note payable to Western States Equipment Co., bearing interest at 6.15%; payable in monthly installments of $2,032; maturing June 2015; collateralized by equipment.		29,276			34,861
Note payable to Catepillar Financial, bearing interest at 5.95%; payable in monthly installments of $827; maturing September 2015; collateralized by equipment.		14,963			16,440
Note payable toDe Lage Landen Financial Services, bearing interest at 5.30%; payable in monthly installments of $549; maturing  March 2016; collateralized by equipment.		13,089			13,945
Note payable to Phyllis Rice, bearing interest at 1%; payable in monthly installments of $2,000; maturing March 2015; collateralized by equipment.		31,808			33,808
Note payable to De Lage Landen Financial Services, bearing interest at 5.12%; payable in monthly installments of $697; maturing December 2014; collateralized by equipment.		7,548			8,797
Note payable to Catepillar Financial, bearing interest at 6.15%; payable in monthly installments of $766; maturing August 2014; collateralized by equipment.		4,518			5,921
Note payable to De Lage Landen Financial Services, bearing interest at 5.28%; payable in monthly installments of $709; maturing June 2014; collateralized by equipment.		2,872			4,186
Obligation payable for Soyatal Mine, non-interest bearing, annual payments of $200,000  through 2019, net of discount of $212,048		762,541			762,541
Note payable to Robert Detwiler, a shareholder, bearing interest at 10.0%, due January 31, 2016; collateralized by equipment.		50,000
Note payable to Robert Detwiler, a shareholder, bearing interest at 10.0%, due January 2, 2015; collateralized by equipment.		80,000			82,000
Note payable to Betsy Detwiler, a shareholder, bearing interest at 10.0%, due January 2, 2015; monthly payments of $1,000;collateralized by equipment.		120,000			120,000
		1,167,103			1,129,199
Less current portion		(399,391	)		(126,984	)
Long-term portion	$	767,712		$	1,002,215

At March 31, 2014, principal payments on debt are due as follows:

Due by March 31,
2015		399,391
2016		119,032
2017		60,952
2018		139,199
2019		172,962
2020		183,339
2021		92,228
	$	1,167,103

XML

9. Concentrations of Risk

3 Months Ended

Mar. 31, 2014

Risks and Uncertainties [Abstract]

Concentrations of Risk

	For the Period Ended
Sales to Three Largest Customers	March 31, 2014			March 31, 2013
Alpha Gary Corporation	$	1,142,850		$	1,063,716
General Electric		-			195,300
Kohler Corporation		778,766			712,485
Teck American, Inc.		145,432			-
	$	2,067,048		$	1,971,501
% of Total Revenues		70.10	%		66.50	%

Three Largest Accounts Receivable	March 31, 2014			December 31, 2013
Kohler Corporation	$	383,589		$	202,019
Commerce Industrial Chemical		57,715			-
Alpha Gary Corporation		-			42,778
Teck American, Inc.		203,888			88,329
	$	645,192		$	333,126
% of Total Receivables		74.00	%		57.83	%

XML

11. Income Taxes

3 Months Ended

Mar. 31, 2014

Related Party Transactions [Abstract]

Income Taxes

The Company had recognized a deferred tax asset of $229,451 as of December 31, 2012. During the year ended December 31, 2013, the Company recognized a valuation allowance equal to 100% of the net deferred tax asset, as management of the Company cannot determine that it is more likely than not the Company will realize the benefit of the net deferred tax asset. The net effect is that the deferred tax asset as of December 31, 2013, and any deferred tax assets that may have been incurred since then, are fully reserved for at March 31, 2014.

XML

8. Long - Term Debt (Details 1) (USD $)	Mar. 31, 2014
Long Term Debt Details 1
2015	$ 399,391
2016	119,032
2017	60,952
2018	139,199
2019	172,962
2020	183,339
2021	92,228
Total	$ 1,167,103

XML

4. Accounts Receivable and Due to Factor (Tables)

3 Months Ended

Mar. 31, 2014

Accounts Receivable And Due To Factor Tables

Account Receivables

Accounts Receivable	March 31, 2014			December 31, 2013
Accounts receivable - non factored	$	658,669		$	402,351
Accounts receivable - factored with recourse		218,223			177,701
less allowance for doubtful accounts		(4,031	)		(4,031	)
Accounts receivable - net	$	872,861		$	576,021

XML

13. Business Segments (Tables)

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Segment Information

	As of March 31, 2014		As of December 31, 2013
Properties, plants and equipment, net:
Antimony
United States	$	1,970,819	$	1,928,442
Mexico		8,901,053		8,792,410
Subtotal Antimony		10,871,872		10,720,852
Zeolite		1,648,948		1,674,793
	$	12,520,820	$	12,395,645

Total Assets:
Antimony
United States	$	3,128,059	$	3,017,768
Mexico		9,857,949		9,668,997
Subtotal Antimony		12,986,008		12,686,765
Zeolite		2,050,207		2,204,225
	$	15,036,215	$	14,890,990

	For the three months ended
Capital expenditures:	March 31, 2014		March 31, 2013
Antimony
United States	$	58,541	$	49,782
Mexico		227,589		389,053
Subtotal Antimony		286,130		438,835
Zeolite		29,057		33,791
Total	$	315,187	$	472,626

Segment Operations for the	Antimony			Antimony			Bear River
Three Months ended March 31, 2014	USAC			Mexico			Zeolite		Totals
Total revenues	$	2,293,865		$	-		$	658,449	$	2,952,314
Production costs		1,427,417			667,706			372,181		2,467,304
Depreciation and amortization		16,165			116,406			54,902		187,473
Other operating costs		393,763			131,890			123,159		648,812
Total operating expenses		1,837,345			916,002			550,242		3,303,589
Income (loss) from operations		456,520			(916,002	)		108,207		(351,275	)
Other income (expense):		(12,631	)		5,451			285		(6,895	)
NET INCOME (LOSS)	$	443,889		$	(910,551	)	$	108,492	$	(358,170	)

Segment Operations for the	Antimony			Antimony			Bear River
Three Months ended March 31, 2013	USAC			Mexico			Zeolite			Totals
Total revenues	$	2,414,224		$	3,000		$	549,551		$	2,966,775
Production costs		1,373,787			867,919			301,808			2,543,514
Depreciation and amortization		15,293			114,884			53,750			183,927
Other operating costs		433,543			70,165			124,263			627,971
Total operating expenses		1,822,623			1,052,968			479,821			3,355,412
Income (loss) from operations		591,601			(1,049,968	)		69,730			(388,637	)
Other income (expense):		(17,601	)		(1,301	)		(1,286	)		(20,188	)
NET INCOME (LOSS)	$	574,000		$	(1,051,269	)	$	68,444		$	(408,825	)

XML

13. Business Segments (Details 2) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Revenues	$ 2,952,314	$ 2,966,775
Production costs	2,467,304	2,543,514
Depreciation and amortization	187,473	183,927
Other operating costs	648,812	627,971
Total operating expenses	3,303,589	3,355,412
Income (loss) from operations	(351,275)	(388,637)
Other income (expense):	(6,895)	(20,188)
NET INCOME (LOSS)	(358,170)	(408,825)
United States Antimony [Member]
Revenues	2,293,865	2,414,224
Production costs	1,427,417	1,373,787
Depreciation and amortization	16,165	15,293
Other operating costs	393,763	433,543
Total operating expenses	1,837,345	1,822,623
Income (loss) from operations	456,520	591,601
Other income (expense):	(12,631)	(17,601)
NET INCOME (LOSS)	443,889	574,000
Mexico Antimony [Member]
Revenues	0	3,000
Production costs	667,706	867,919
Depreciation and amortization	116,406	114,884
Other operating costs	131,890	70,165
Total operating expenses	916,002	1,052,968
Income (loss) from operations	(916,002)	(1,049,968)
Other income (expense):	5,451	(1,301)
NET INCOME (LOSS)	(910,551)	(1,051,269)
Zeolite [Member]
Revenues	658,449	549,551
Production costs	372,181	301,808
Depreciation and amortization	54,902	53,750
Other operating costs	123,159	124,263
Total operating expenses	550,242	479,821
Income (loss) from operations	108,207	69,730
Other income (expense):	285	(1,286)
NET INCOME (LOSS)	$ 108,492	$ 68,444

XML

Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash Flows From Operating Activities:
Net income loss	$ (358,170)	$ (408,825)
Adjustments to reconcile net loss to net cash provided (used) by operating activities:
Depreciation and amortization expense	185,462	181,918
Accretion of asset retirement obligation	2,010	2,010
Common stock issued to directors for services	0	2,628
Gain on sale of asset	5,450	0
Change in:
Accounts receivable, net	(296,840)	(180,139)
Inventories	354,085	177,457
Other current assets	(48,387)	(40,301)
Other assets	(45,299)	(21,639)
Accounts payable	214,761	(113,623)
Due to factor	40,522	281,194
Accrued payroll, taxes and interest	13,928	11,511
Other accrued liabilities	3,190	3,762
Deferred revenue	(18,000)	0
Payables to related parties	(14,083)	(342)
Net cash provided (used) by operating activities	38,629	(104,389)
Cash Flows From Investing Activities:
Purchase of properties, plants and equipment	(296,147)	(456,876)
Net cash used by investing activities	(296,147)	(456,876)
Cash Flows From Financing Activities:
Proceeds from issuance of long term debt	50,000	0
Proceeds from sales of common stock	170,000	0
Proceeds from notes payable to bank	15,983	0
Principal payments of long-term debt	(31,136)	(46,252)
Change in checks issued and payable	37,179	0
Net cash provided (used) by financing activities	242,026	(46,252)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(15,492)	(607,517)
Cash and cash equivalents at beginning of period	20,343	1,000,811
Cash and cash equivalents at end of period	4,851	0
Noncash investing activities:
Properties, plants & equipment acquired with long-term debt	19,040	0
Properties, plants and equipment acquired with accounts payable	0	15,750
Noncash financing activities:
Equipment sold for note receivable	$ 10,000	$ 0

XML

5. Other Assets

3 Months Ended

Mar. 31, 2014

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

Guadalupe

On March 7, 2012 and on April 4, 2012 the Company entered into a supply agreement and a loan agreement, respectively, (“the Agreements”) with several individuals collectively referred to as ‘Grupo Roga’ or ‘Guadalupe.’  The individuals are the holders of mining concessions located in Mexico in which the Company is interested.  The supply agreement specified that the Company would advance monies to Guadalupe for specific expenses, including repairs of road and payment of mining taxes.  In addition, the Company agreed to purchase antimony ore mined at Guadalupe and pay for mining and trucking costs incurred with the condition that the ore maintain a grade of 3% or more of recoverable antimony. The advances are to be repaid by deducting 10% from the value of each antimony ore shipment. During 2012 and 2013, the recoverable grade of antimony was less than 3% and the amounts due the Company from Guadalupe increased as a result of recoverable antimony shortfalls.

The Agreements with Guadalupe granted the Company an option to purchase the concessions outright for $2,000,000. The Agreements also provide that in event of a breach of the terms by Guadalupe that the Company has a right to enter the property and take possession of the mining concessions. The advances are collateralized by a mortgage on the concessions.  As of March 31, 2014 and December 31, 2013, the Company had cumulative loans and advances due from Guadalupe of $505,230, and $489,281, respectively, included in its other assets.

Soyatal

On August 5, 2013, the Company entered into a supply agreement with the owners of the Soyatal concessions similar to that of Guadalupe and notified the owners of Soyatal that it was exercising the option to purchase the Soyatal property. The option exercise agreement allowed the Company to apply all amounts previously due the Company (the “Purchase Price Credits”) by Soyatal of $420,411 to the purchase price consideration. At December 31, 2013, the Company had Purchase Price Credits of approximately $325,000 which can be used as payments on the note at the rate of $100,000 per year until gone.  The Company is obligated to make payments of $200,000 annually through 2020, and a final payment of $100,000 is due in 2021.  The debt payable for the Soyatal mine is non-interest bearing. The Company recorded the debt and the related Soyatal mine asset by determining the net present value of the contractual stream of payments due using a 6% discount rate. The resulting discount on the Soyatal debt is approximately $212,000 at December 31, 2013, and is netted against the debt payable resulting in a discounted amount of $762,541, at December 31, 2013. The discount will be amortized to interest expense using the effective interest method over the life of the debt.  No payments were made on the debt during the first quarter of 2014.  The first payment of $200,000 is due January 1, 2015. 

XML

1. Basis of Presentation (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Accounting Policies [Abstract]
Interest expense	$ 11,689	$ 6,058
Capitalized cost of construction	$ 11,575	$ 4,597
Effective tax rate	0.00%

XML

12. Stockholder's Equity (Details) (Warrant [Member], USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Beginning balance, shares	2,489,407	1,934,667
Warrants issued, shares		629,740
Warrants exercised, shares	(125,000)	(25,000)
Warrants expired, shares		(50,000)
Ending balance, shares	2,364,407	2,489,407
2014	1,082,750
2015	1,031,657
Thereafter	250,000
Total	2,364,407
Maximum [Member]
Beginning balance, Exercise Prices	$ 4.50	$ 0.25
Warrants granted, Exercise Prices		$ 1.20
Warrants exercised, Exercise Prices	$ 1.60	$ 1.20
Warrants expired, Exercise Prices		$ 4.50
Ending balance Exercise Prices	$ 4.50	$ 0.25
Minimum [Member]
Beginning balance, Exercise Prices	$ 0.25	$ 4.50
Warrants granted, Exercise Prices		$ 1.60
Warrants exercised, Exercise Prices	$ 1.20
Ending balance Exercise Prices	$ 0.25	$ 4.50

XML

3. Inventories (Tables)

3 Months Ended

Mar. 31, 2014

Inventory Disclosure [Abstract]

Inventories

	March 31, 2014		December 31, 2013
Antimony Metal	$	45,522	$	33,850
Antimony Oxide		268,557		535,251
Antimony Concentrate		134,043		93,190
Antimony Ore		120,643		106,519
Total antimony		568,765		768,810
Zeolite		111,920		265,960
	$	680,685	$	1,034,770