Good morning, everybody. The company is headquartered here in Dallas. This is an old company. Been around since 1968, publicly traded since 2012. I have been running the company for about 2.5 years now. I came on as a board member and eventually elevated up to Chairman and CEO. This is a true turnaround story. Many people don't know what antimony is. It's a hard rock mineral that's badly needed by our military. You can't fire a bullet without antimony. It's used in all kinds of different things we'll talk about today. This company, when I got involved two and a half, three years ago, stock was $0.20 a share, about a $20 million Market Cap. We're about $1.1 billion today, with a stock around $7 a share. We tried to take the company to kind of a new, new beginning. We—I don't have any management team members that are left from the prior company other than one and a whole new board, new direction. It is really kind of a new beginning. Let's see. There we go. Forward-looking statements. This is kind of some of the things we've done here over the last couple of years. We've had some pretty big announcements regarding government contracts, government work. We also not only are involved in antimony, we're involved in a couple of other critical minerals. These are all the uses for antimony, and you can see the military and defense on the left, but this is used in lots of other businesses as well. We just signed a contract two weeks ago for $104 million that is fire retardants for roofing materials. They also do that on tents for the military. You can imagine with all the new AI data centers being built, all of those have to have fire retardants on their roof, which is a chemical used in the roofing material, as well as all the wiring that goes into AI technology has to have antimony. We're finding a lot of new uses here recently. China controls this product. They control about 65% of worldwide supply, but they control 90% of the refining, which is what we do. That's our biggest competitor in the market today, China. These are our two mills, or I should say refineries, the only two in North America. One is in Thompson Falls, Montana, and one is in Madero, Mexico. The one in Montana is under significant expansion. It's a $22 million effort that began in May, will be done in January, in a month and a half, two months. That'll take that facility from 100 tons a month up to 500 tons. It's a five times increase in output. The one in Mexico, I just fired it back up this year. It'll be doing about 200 tons a month at the end of the year. Just to kind of give you a reflection of the growth, when I took over the company, we had about $8 million of annual revenues. Last year, $15 million, so we doubled. This year, our guidance is $40 million-$43 million. Next year, our guidance is $125 million. I really think we'll probably be more like $150 million plus. That gives you an idea of how fast our business is growing. This is a pretty important element with respect to our growth. It's this executive order that was put in place that says if you're supplying anything to the U.S. military, you better be getting your, your primary products from a U.S. company. The contract I just announced two weeks ago of $104 million, that was a company that was buying their antimony from Belgium. Now they're buying it from us. This is the big one, the DLA contract. DLA stands for Defense Logistics Agency of the Department of Defense. When China cut off all shipments of antimony to every country in the world beginning last September, a year ago, my phone started ringing off the hook from the Department of Defense. That led to this contract, which was signed about two months ago, for a company that did $15 million of revenues last year to have a $245 million government contract. It's pretty, pretty impressive. When they put that on gov.com, because it's a requirement to do a public solicitation, the comment was, "United States Antimony Corporation is the only company qualified to bid on this contract." Fortunately, we got this. They put their first $10 million order, which we're filling right now. What we were making is actually, think of it as a gold bar, but it's an antimony bar, weighs about 5 lbs, and it's 99.7% antimony. We stamp it, it's a serial number on it, and we put it on a pallet and shrink wrap it and ship it to the military. It is used strictly for future wars. It is just inventory. Today, the military has a low, low, lowest supply of antimony they have had since World War II. We have been feeding the Ukrainian war, we have been feeding the Israeli war, and they have used up their supplies. China cut us off. All of a sudden, believe it or not, our military was getting all their antimony from China. We are changing that, obviously. This is the contract I just mentioned we won a couple of weeks ago. This is, again, antimony trioxide used for fire retardants predominantly. These are all the different antimony materials we make. In those furnaces in Thompson Falls, there are 17 of them. We will be making different products at every different time. These are the different applications those products are used for in the industry. As I mentioned, you know, China and Russia, they control most of the supply. There's been a lot of talk about Trump and President Trump, China getting together and resolving the rare earths issue. Antimony really hasn't been discussed. In fact, China just put a proclamation out a week ago that said they cannot sell any antimony to any country that would be used for military. That's basically all we do. Anyway, their largest mine, called Twinkling Star, depleted last year. China uses obviously antimony for their own military, but they make, it's a very big ingredient for solar panels. In fact, they just came out about a month ago and said they had improved the efficiency of a solar panel about 10%-12%, and it was all because of antimony. I think there's a lot of reasons that China is trying to safeguard this material. The price always hung around $5. It actually went to as high as $30 a lb. It's hanging around $19-$20 a lb today. It's up four times what it was a year and a half ago. What are we doing? We're getting antimony presently from all these countries, Australia, Bolivia, Chad, Peru, and Mexico, and we're bringing that antimony in. We're typically paying 50% of Rotterdam. Rotterdam today is $20, so we're paying $10 a. Then we make our profit margins off that. However, we started mining our own antimony, and I'll talk about that here in just a second. There is a synthetic antimony that comes out of India, and it's very inefficient, unreliable. You can imagine you're firing a bullet, you want it to be reliable. Every third bullet doesn't work with synthetic antimony. The military has told me that they're not going this route at all. We made a decision about a year and a half ago to find our own antimony. We went to Alaska and met with the Geological Society and said, "Hey, we know antimony has been found up here for 125 years. Where is it?" Typically, antimony is found with gold. They kind of go hand in hand. These three geologists that look like Moses with beards and hair come out and say, "Well, this antimony fed World War I, this antimony fed Korean War, this fed the Vietnam War." I go, "What about World War II?" They said, "No, antimony was mined in Alaska during World War II because they were worried the Japanese would cross Alaska on foot." They went to Idaho. I left that meeting, rented two helicopters, and we leased 30,000 acres of what they recommended that we lease. That is what we have today. We have an office in Fairbanks with three geologists. That blue line you see on the map, that is the truck route to bring that antimony from Alaska to our facility in Montana. We decided to move into two other critical minerals at the request of the government. One is called cobalt, and the other is tungsten. Cobalt is used in lots of other military applications. This is up in Ontario, Canada. We've got almost 500 claims up there, and we're doing some drilling and exploration work and rock cleaning and things. We hope to have this in a position to get a reserve report on it next year. Our other acquisition is this tungsten play, and we paid $5 million for this property in May, and I think it's worth well over $100 million today. There is no tungsten or cobalt mined in the United States or Canada today. Tungsten is used also by the military. It's the second hardest mineral behind diamonds, and it's used predominantly for shielding for tanks and submarines. The military went to an enhanced uranium. They tried it on the Ukrainian tanks, and the Russians were firing right through it, so they're going back to tungsten. That's what's caused us. We have a reserve report being prepared right now, and we plan to duplicate what we've done in antimony with tungsten and cobalt with the government getting funding and getting contracts. These are all the critical minerals in the portfolio. The DOD just added, I think, eight of these a week ago. This is a brand new chart on the left. On the right shows you the critical minerals that we're currently involved in. We have some, obviously, that are not critical, being gold and silver. We have another division called zeolite. You probably don't even know what zeolite is. It's a natural crystalline material that's used in lots of different businesses. It's a very safe material. We have a mine up in Idaho, and we've been mining this for a number of years. This is the processing plant. You can see all the applications. Water treatment's a big one, agricultural also. A lot of cattlemen use zeolite for their feed, for their cattle because it takes out the gases out of the stomach and it adds protein. I actually take zeolite every day, in my own body. You can buy it off the internet. It's a great cleansing, takes all the leads and toxins out of your body. This is also used for radiation cleanup. All three nuclear disasters use zeolite to clean up that material. It's got a lot of properties. We're trying to get the EPA to stockpile zeolite right now. This is Idaho where we're located on the southeastern corner. We have 25 employees up there. When I took over this company, this is another plant we had to fix a lot of, it was basically, you know, in disrepair. We got it all fixed up and we're running, you know, 98% efficiency now. These are all the changes I've made since coming on to the company, senior management changes, board changes, all the accomplishments we've, you know, tried to do. I call it blocking and tackling. I mean, we had an old company that had some worn down assets. We fixed them. We've now improved them. We're now expanding them and we're now mining. What I didn't mention, I don't have a new slide yet. It just happened. We opened up a mine in Montana where that plant is located in Thompson Falls, Montana, about 45 days ago. We got the permits and started picking up antimony. And we now have moved over 500 tons of material down the mountain. So very exciting that, you know, we have found our own material. So what this means for us is, like in our third quarter, our gross margin went from 26% - 30%. With our own material, we'll go over to 50% gross margin on our work. So, we're excited to have this mine opened up and working. Now, we have limitations on winter in Montana, just like we do in Alaska. So there's, we're probably only going to be able to work a couple more weeks before we'll have to shut down for, wait for spring. So this is a summation of our recent financial statements. We did report a loss, but that's only because of stock compensation. All my management team, all my board takes their compensation in stock mostly. We, our annual meeting allowed the stock to be vested, and I feel pretty good we'll have profits for the year. We have a government grant coming that will make these numbers look pretty, pretty handsome by the end of the fourth quarter. You can see compared to last year, revenue is up 182%, gross profit up 219%, and that should just continue into 2026. What is our forward strategy? Continue working with the government, expanding our operations both in Alaska and Montana, as well as Mexico. We are now sourcing from all these other countries. We would rather be sourcing for just one or two countries, but we're having to get all this antimony, test it, check it out, see how it works in our furnaces, see what kind of material we can make. You can imagine there's different qualities of material all over the world. It takes a lot of time to do that. We've pretty much honed in on a couple of countries we like their material the most. We've been trying to educate the public about who we are. We now have four firms that follow us on equity research coverage. I'm typically with Maria on Fox News maybe once a month or so. I don't know why she likes me so much, but she asked me to come back. We've done Bloomberg and lots of things on CNBC and what have you. Wall Street Journal just wrote an article on us a week ago. A great article of what we're doing in Alaska. I like to show this slide because, you know, the Market Cap has gone up, but the share count has barely gone up. We try to be very, very frugal in how we issue stock and how we do it. We want to continue this trend. This stock went crazy about a month and a half ago when it was as high as $19 a share in a couple of days, but it has come back down and I think it is in a great territory now. The last equity raise I did was at $10.50. I am a big believer in my career. This is my fourth New York Stock Exchange company, to not raise capital below an amount that I had done before. You won't see us do any more capital raises. The stock is back up in the $12-$15 range. We are sitting on about $100 million of liquidity. That's cash and Fed funds, or Fed bonds, I should say. We also have a $40 million investment in a company in Australia that's marketable securities. We do have an at the market offering of $400 million that's available if we want to raise capital, given the guidance at the end. We have very little debt, $229,000 on a truck, basically no debt at all. Market Cap is hanging again. I think today it's like $1.1 billion. There's my Batman cartoon, Holy Antimony. People don't, you know, know what antimony is. It's a constant, it's a constant education process. We put a four-star general on our board. You've probably seen on TV. His name is General Jack Keane. And here's a guy that's been working in the military his entire life, and he did not know what antimony was. So, it's, it's, you know, really something that we continue to educate, the public as well as the government officials on. So, I think it's a unique company in a unique space. I hate to say the word monopoly. We don't have any competition. And, our competition is China, and China cut everybody off. So, we're trying to grow as fast as we can to make sure that competition's not in the rearview mirror. So, we're working fast and hard, hiring people and doing all the things we're going to do. 2026 will be a banner year for this company. And, we got these big contracts. We got our new processing facility, you know, 95% done. We have new supplies. We have our own supply. Margins will grow. Revenues will grow. Cash flow will grow. And then we hope to begin these other two critical minerals, getting government support for them as well. We are active and, you know, we want to build a multi-billion dollar company here. That's the plan. I'll open up the floor to questions if you have any. Got some time. Yeah. Ask that papers that you picked up, how much exploration has already been done on that property? Could you know the confidence that there's a viable reserve there? You probably look at it in five years. You get that only. It's a great question, and I'm glad you asked it because we are not your typical mining company. You know, if you were asked, one of the big miners, you know, oh, you found a new project, it's a 25 year, that's the average of 25 years of getting a mine from start to finish. We're doing it in months, not years. How are we doing that? For instance, in Montana, we went to the Forest Service and said we want to do what's called bulk sampling. They'll allow us to move X amount of tonnage off the mountain before we get the actual permit. They gave it to us in two weeks. We moved the material. Now we're getting our mining permit. We've done the same thing up in Alaska. To answer your question about Canada, everything we do is in known areas. I was in the oil and gas business most of my life and always found more oil and gas where oil and gas was already found. We're not wildcatters. We get shown things all the time that are, and I go, that's a wildcat. We're not doing that. To answer your question, yes, there are known reserves. In fact, the one, the tungsten play, we're to the point now we've done enough work since May that we're getting a reserve report right now. That reserve report allows me to get money from the government. The cobalt play, we're probably another five to six months away of getting a reserve report. Get that, get that formula that you've put in from, and you were determined that it's deep enough to do it, then will you take that project to a major mining company? No, we're going to do it ourselves. Mm-hmm. Not necessarily. We're talking about not big dollars. A lot of it is open pit work and it's just not significant dollars. The tungsten play will probably have to build a contact mill or a flotation facility, but we can sell that tungsten rock right after that. We didn't even have to process it in a refinery. That's a big plus on tungsten. If you look at tungsten prices, they just keep going straight up, again, because there's a shortage worldwide. We really like Australia. We actually made a proposal by a company down there. There's a lot of resource-rich mines in Australia and they're typically underfunded. We see that as a core place for us to be doing other work. Chris, you were always hearing prospects as you're talking about, can you help us understand why the stock would have dropped from $19- $6.85? Say that one more time. The share price of that stock volatility. The share price of your stock according to everything. Oh, it's, I think it's seven, six, 90, whatever. 19.6. I mean, that kind of drop off in something bad is happening in all the positive things you said. Oh, there's, there's not a single, I can't tell you of one negative thing that's going on. The whole group, the rare earths and critical minerals group took off like rockets and everybody's come down and we got thrown in the briar patch with everybody else, but we're the ones got revenues, cash flow, making money. People figure it out, you know, and so we've actually been marketing to a lot of institutions this year. If you'll look at, go on Bloomberg and look at our stock, we're 30% held by institutions headed to 50%. And they're big institutions. You know, I did two overnight deals with Citadel. We have BlackRock in there, Vanguard, you know, so big firms, but retail is what did that. It's given you a great buying opportunity. Two questions. I think the $19 was right around when we got ready to announce the statement of the contract with the government. No, I think wasn't it when the stock really ran up and when the U.S. government announced it? It was just the market. It wasn't really any announcement. We had done the, yeah, we did the contract, but if you looked at the group, the whole group. Isn't it the group go up because of the government announcing states? I think the group went up just because of retail buying and, you know, rare earths on TV and, you know, Trump talking about critical minerals, you know, just. What's your forecast for the demand? I can't meet demand. I'm not. No. No. I have 17 customers and I don't meet the demand of any one of those customers. Now I'm changing that, but not yet. Of course, we've never sold to the government before. This is that contract is brand new. We typically sell to subcontractors of the government. This is the first time we're selling directly to the government. That contract, by the way, is a premium over market. Your new processing, when did that come online in our? January. Yeah. We, you know, it'll take about 30 days to get everything, you know, working right. We've already hired, I have to hire 25 new people. I think we've hired 12 people already that we're training. I actually bought a housing development in Thompson Falls just, I guess we closed on it yesterday, to, because there's no housing. And we were, there's employees that we wanted to come work for us, but there's no place to live. We just bought, you know, 10 duplexes and they're on month to month and people can, can live there. It's the problem with Thompson Falls is it's only 10,000 people in a 30-mile radius and 75% of them are retired. You know, we would have been running a lot more volume in 2025 had we had people. In fact, when Trump got elected the very next day, three border patrol cars and two sheriff deputy cars show up at our facility and arrest five of our people that were from Peru that had fraudulent passports. We didn't know. They worked for us for five years. We have great employees, but, you know, there's a good and bad to the immigration issue, right? They got shipped out and then we've had to replace them, which we have, but it's just a difficult place to bring people. I would say I feel comfortable saying we'll get close to 300 tons a month by March and hopefully 500 within a couple of months after that. What's your recovery factor? Recovery factor? How much do you get out of what? When that material comes in to make military grade, it has to be 60% concentrate. So 40% is loss. That 60% concentrate, though, we can make 99.7% metal ingots. What was the pricing prior to the Chinese shutting down? $5 a lb. Had been that for years. You know, people go, aren't you worried about China, you know, bringing antimony back? I give you five reasons why it's never going to happen. Number one, their largest mine in the world, this Twinkling Star, is gone, is done. Largest antimony mine, and fed most of their industry. Number two, we were buying, we have been buying antimony from a company in Alaska called Mandalay. Our third shipment got transloaded in a port in China called Dandong. The Chinese customs confiscated our material, which, you know, had our name on it and was coming to Mexico, and kept it. That was in April. I did not finally get that material till October 13th and had to get the State Department, White House, and Department of Commerce involved to get it released. They just took it. When I am out competing every day to buy antimony from all those countries, Chad, Bolivia, Peru, Australia, my only competition is the People's Republic of China. They are there with briefcases full of money. The problem is you sell your antimony to China, you get nothing in return other than money. People need the product back because they have the refining capacity. All this rhetoric with Trump, you know, and the rare earth deals he's making where we're pre-for a year, antimony's not mentioned. It has, they did just, as I mentioned earlier, put a new stalemate in of no antimony for military. That's what we do. I just don't see it happening. They, they, it's a big stick they have and they're not going to release it. I don't think they have it to release. Would it make sense for the government to take antimony? One more time? Would it ever make sense for the U.S. government to take a state in your company? I'm sorry, I'm having a hard time. What's the question? Would the government take a state? It makes sense for the government to take a state. Oh, good question. As I mentioned, we have a grant coming, like $27 million. We'll be closing that hole, hopefully pretty soon. Nothing better than non-dilutive equity, right? I mean, it comes on your balance sheet and you're not issuing any equity out. I think ours is going to be the last one, is what I've been told. They want to go more to equity investments in companies. I think there's a likelihood that we'll be going down that path in 2026. We'll see. We don't need it, but if they want it strategically for reasons, then we'd obviously consider it. Yes, sir. Other companies that are working on similar projects aside from you and from Other antimony companies for mines and stuff. You can imagine because we're one of the few buyers, we kind of see everybody's work all around the world. There are two companies, one in Alaska and one in Idaho that profess to have antimony. The problem with the antimony in one company is it's in the middle of the Alaskan forest, 200 miles from the closest road, and there's no refining in Alaska because you got to have natural gas and there's no natural gas in any part of Alaska. You know, we don't give them much credit. They're an Australian-based company. There's another one in Idaho that claims to have great antimony, but all you got to do is look at their reserve report and it's 0.007, so it never can make military grade. It's hard finding good quality antimony. It's not an easy process. You know, some of the material we got from Mandalay in Australia had high arsenic and high lead. We have to deal with that, because we can't make our product have high arsenic, high lead. We get dinged with our purchasers. I don't know of any mines that are going to be opening up anytime soon other than what we have. I thought bullets were made of lead, not antimony. Can you help me understand? Understand not. Are bullets, I thought bullets were made of lead. Oh, yeah, sure. If you look at lead, it's a soft material by its nature. Antimony is what makes lead hard. Lead by itself, you know, you can almost squeeze it, but the antimony is what makes it hard. The primers, which is the ignition system, you know, for a bullet, antimony is used in those primers as the ignition. Like a pilot in his seat in his airplane, he can't eject from that seat without antimony. That's what ejects him, is antimony firing that. Night vision cameras, night vision binoculars all have antimony. The drones that I mentioned earlier, any kind of laser-guided missile has antimony. You can imagine all the things we've been firing, you know, are using up the antimony. That is why the government wants it in the ingot form so they can distribute it to their suppliers as needed, and then they'll melt it down and use it how they need it. That is why they want 99.7, and it can be distributed to Northland, you know, Grumman, whoever. Is it subject to tariffs on Canada or anywhere else as the U.S. tariff material? As what now? Has the U.S. put a tariff? Oh, oh, critical minerals are completely exempt from tariffs. That, yeah, when that came out, we were all worried because, you know, Mexico and all, but critical minerals were exempted. There's no tariffs. That's it. What? What about barriers to the U.S.? I'm a little hard of hearing so say one more time. Building another smelter. Oh. We have looked at, you know, obviously if we have enough supply, I mean, people ask me all the time, why isn't somebody else building a smelter? I go, where are they going to get the antimony? Who builds a smelter without an antimony? I mean, you're talking about a three-year process and, you know, $100 million. We have looked at, okay, should we build a third smelter? We would love to do it in Alaska, but as I said earlier, there's no natural gas in Alaska. If we were to do a third smelter, it would likely be in Idaho in conjunction with maybe another contract that we've been working on. Really the growth for us in 2026 or 2027 will come from Mexico. That footprint we have is we have a lot of land. We could go from 200 tons a month to 1,000 tons a month in Mexico. There's people, there's natural gas, we have a pipeline right to Pemex. The environmental situation is excellent in Mexico. We can do things down there we can't do in Montana. That's it for me. All right. Thank you.