United States Antimony Corporation (UAMY) Earnings Call Transcript & Summary

Greetings. Welcome to the United States Antimony Corporation 2024 Annual Meeting of Shareholders Call. [Operator Instructions]. Please note, this conference is being recorded. I will now turn the conference over to your host, Gary Evans, Chairman and Co-CEO of United States Antimony Corporation. Gary, please go ahead.

Thank you. Good afternoon. I'm Gary C. Evans, and on behalf of our Board of Directors and employees, it's my pleasure to welcome you to the 2024 Annual Meeting of the Shareholders. We're happy to have all of you with us today. First of all, I'd like to start by introducing the members of our Board of Directors as well as our management team that we have with us on the call today. Joe Bardswich, who is a Director and my Co-CEO, Dr. Blaise Aguirre, who is an Independent Director; Joe Carrabba, who is an Independent Director; Michael McManus, who is also an Independent Director; Rick Isaak, our Chief Financial Officer; Melissa Pagen, our Senior VP of Corporate Development and Government Relations; Gus Gustavsen, the President of our antimony Division; Jeff Fink, the Vice President and General Manager over our Zeolite Division called Bear River, Aaron Tenesch, Vice President of our Antimony Division; Jonathan Miller, Vice President of Investor Relations and Global Sales Manager; and [ Rachel Hubert ], our Controller. We also have joining us today, 2 outside consultants, one being Scott Neue from Assure. That's our independent public accounting firm; and Steve Boender from Stoel Rives, which is our outside legal counsel. Now that we've gone through all of these introductions, a few words regarding mailing of notice and presence of a quorum. A notice of meeting and Internet availability was mailed around June 10, 2024, to all shareholders of record as of May 31, 2024. An affidavit to that effect has been received from Issuer Direct Corporation and will be filed with the minutes of this meeting. Based on the shares represented in person or by proxy, a quorum has been determined to be present, and we can now proceed with the meeting. In the interest of time, we will dispense with the reading of the minutes from last year's shareholder meeting. I would now like to proceed with the business of this year's annual meeting. As set forth in the meeting notice and the accompanying proxy statement, there are 8 matters to be voted on by the shareholders of U.S. Antimony. Proposal #1, the first matter is the election of 5 directors to the Board of Directors to serve for a 1-year term. The Board of Directors nominated and recommended the election of Gary C. Evans, Blaise Aguirre, Joe Bardswich, Joe Carrabba and Michael McManus in the proxy statement. Proposal #2, the second item is to approve the amendment and restatement of our second amended and restated articles of incorporation in order to align them with the Montana Business Corporation Act as currently constituted. Proposal #3, the third item is to approve the restated articles to increase the maximum size of the company's Board of Directors. Proposal #4, the fourth item is to approve the restated in articles to permit only the Board to change the size of the Board. Proposal #5, which is the fifth item is to approve the restated articles to provide for indemnification of our Board of Directors and officers consistent with other bylaws. Proposal #6, which is the sixth item is to approve an amendment to restated articles to effect at the discretion of the Board, if and when deemed necessary and at such times as determined by the Board, a reverse stock split of the company's common stock par value $0.01 per share at a ratio in the range of 1 for 5 to up to 1 for 30, with such ratio to be determined at the discretion of the Board of Directors. Proposal #7, the seventh item is to approve an amendment to the restated articles to increase at the discretion of the Board, the number of shares authorized for issuance by the company. Proposal #8, the eighth item is to ratify the appointment of Assure CPA, LLC as U.S. Antimony's independent registered public accounting firm for the fiscal year ending December 31, 2024. The polls are now open to vote for these proposals. Please use the Vote My Shares button to cast your vote. We will pause for a minute to allow shareholders to vote their shares. So we're going to go radio silence for right at a minute. [Voting]

We are now declaring the polls closed, and I will now ask Rick Isaak, our Inspector of Elections to tally votes. We'll pause for a minute while the inspector tallies the votes. Rick?

The votes have been tallied. Gary, you can continue.

Okay. The inspector reports that there is a quorum present and voting at this meeting virtually or by proxy has concluded. The inspector reports that each of Gary C. Evans, Blaise Aguirre, Lloyd Joseph Bardswich, Joseph A. Carrabba and Michael McManus, has been elected to the Board of Directors. Additionally, all amendments and restatements of our articles of corporation have been approved and the selection of Assure has been ratified. A formal report of Inspector of Election detailing the results of the vote on each proposal will be filed with the minutes of this meeting. This now concludes the business to be conducted today. Your Board and management team want to thank our employees for their work and dedication to our company. It is only through our -- all their efforts that we are able to achieve our goals and to prove our company and add shareholder value. We would also like to thank our shareholders for their continued support and encouragement and their dedication to our company throughout the years. Thank you again for participating in this meeting. The 2024 Annual Shareholders Meeting is officially adjourned.

This concludes today's conference, and you may disconnect your lines at this time. Thank you for your participation.