All right. Hello everyone, and thank you all for joining us during the Lytham Partners Spring 2026 Investor Conference. My name is Robert Blum, Managing Partner at Lytham Partners, and today Jonathan Miller at US Antimony will be taking us through a brief slide presentation. As a reminder, US Antimony trades under the ticker symbol UAMY. All right, let's get started. Jonathan, the floor is all yours. Great. Thank you for the introduction, Robert. Thank you for everyone for tuning in. As you mentioned, my name's Jonathan Miller. I'm Vice President of Investor Relations for United States Antimony Corporation. This is an older company that's been around since 1968 that's reemerged under new leadership as of about three years ago. Here's a little timeline. As I mentioned, the company was founded in 1968, listed on the NYSE in 2012. Founder passed away about five years ago. His son stepped in temporarily before a group of major shareholders came in and brought Gary Evans onto the board as an independent director. He then became lead director, Chairman, Co-CEO, full-time CEO. During that time, the entire management team and the entire board were transitioned. Everybody in the company is new, with the exception of our antimony metallurgist. Throughout the last three years, while all this was happening, the company had accomplished some great things since then. The biggest of which was China's announcement in September of 2024 that they were cutting off the global supply of antimony, which gave us a big shot in the arm to rapidly scale this business. As it stands today, United States Antimony owns the only two permitted antimony smelters in North America, one being in Thompson Falls, Montana, the other being in Madero, Mexico. All the antimony mines were shut down in 1983 by the EPA, and during that time, we were importing cheap Chinese antimony for around $5 a pound, which drove most of the producers out of business, with the exclusion of us. You can see that we have a subsidiary company called Bear River Zeolite there on the map that is in Preston, Idaho. Zeolite's not a critical mineral, but it is very strategic, and I'll touch on that near the end of this presentation here. For those of you that don't know, antimony is a critical mineral. It's deemed so by the Department of Defense and the Department of Interior. It has hundreds, if not thousands, of different applications, about 30% of which are defense. As you can see here in the military and defense section, there's about 300 different types of ammunition that antimony is used in, especially armor-piercing or penetrating rounds. It's used in aircraft carriers, fighter jets, night vision goggles, and binoculars, radar systems, artillery shells, and the list goes on and on. The other core verticals for us are going to be energy transition and technology. In energy transition, photovoltaic glass and solar panels, wind turbines, energy storage such as batteries. Every lead-acid battery, whether in a car, boat, your golf cart, is going to contain antimony. We're actually discovering that more antimony in photovoltaic glass creates higher efficiency solar panels. Obviously, energy transition is a big topic of discussion nowadays, and antimony is a vital component in most energy transition applications. On the technology side, you have everything from semiconductors to cabling. Because of its ability to withstand heat, it's used in data storage centers. One of our biggest industrial clients, they manufacture a flame retardant fabric that's woven into the roofing material of data storage centers to withstand the spread of fire. It's also used in the circuitry and the semiconductors themselves. You can imagine the data server towers all the way down to the individual electronic components inside of them. This is our portfolio of products that we make. We make five distinct antimony products: oxide, metal, trioxide, trisulfide, and nanocrystals, all with their own distinct applications. The biggest one for us is going to be metal because we have a $248 million contract with the Defense Logistics Agency, supply antimony metal, which is used for ammunition and other defense-related applications. Then the other one's probably going to be the antimony oxide, which is widely used in flame retardant applications. These distinct products, the process engineering behind them was developed by our antimony metallurgist over his 50-year career, 30 years with the company. There's a lot of proprietary process engineering here. Everything we do is custom, and all our machinery is fabricated to our specifications. It is very difficult to replicate these different processes at a commercial scale. While everybody was importing the commodity from China, our engineers and metallurgists were developing ways to manufacture these products at scale. The commodity itself historically had hovered around $5 a pound up until China's announcement in September 2024, when the commodity price skyrocketed to nearly $30 a pound. It's now rebalanced back to around $27,500 per ton, putting it at around $12.50 per pound. The reason why this price has settled back some like this is because prior to September 2024. No country outside of China was shipping antimony in bulk to around the world. There were small recyclers and exporters, but China was the main exporter globally. Since that embargo happened, you've seen all these pockets of artisanal miners spring up all over the world, in Africa and South America and the Middle East, in Southeast Asia. That's caused the commodity price to stabilize, come back down slightly. The thing the market really needs to understand is there's not all of a sudden this abundance of antimony material that's popped up on the global market. What's really important is the quality of that material. Even still that you have all these artisanal miners coming up, we have strict cutoff grades. One being the grade of the material. It's called stibnite, the raw ore coming out of the ground. The other is going to be the impurities. We need less than 0.2% of lead, arsenic, and sulfur. These deleterious elements are impurities in the antimony. Even still, with these pockets coming up all over the world, we still have to reject over 95% of the material out there because it doesn't meet our cutoff grade for flotation and iron oe reduction smelting. That makes a lot of the material not usable that's out there. So the five countries or four countries that we've had listed here that we've narrowed it down to are Australia, Bolivia, Chad, and Peru. This is high-grade material with low impurities that we've struck deals with these miners in countries to import this material. The bulk of this material is going to our facility in Mexico, which has a nameplate capacity of 200 tons per month. It's been gradually ramping up over last year. This Bolivian material actually goes to Thompson Falls. This was a process that we developed with a group of Canadian chemists and engineers that developed the first of its kind hydromet facility or hydrometallurgical facility for antimony. It creates a 99.9% pure antimony flake. This is what it looks like. I'll see if my camera will stabilize on it, and if not, we'll just go ahead and move on for time's sake here. This is a high-purity antimony flake that you're looking at. The reason why this is so special or unique is because it reduces the time that we need to create metal or oxides in our furnaces. The three traditional legs right now are mining, which I mentioned we need at least 10% grade stibnite coming out of the ground. It goes to flotation, which is the middle leg that increases the concentrate, giving us at least 60%-70%, which is what's required to run through our furnaces. Even at 60%, 70% antimony, you're still having about 30%, 40% waste burn off in that iron ore reduction smelting process. Having this finished product, this antimony flake, allows us to eliminate that 30%-40% waste product burn off and theoretically quadruple the speed at which we can process the product. Here on the left side is the U.S. government's list of critical minerals, and then on the right side, you're going to see our expanded list of critical minerals. We've diversified out of just antimony. We didn't want to be a one-trick pony. When China made this announcement to cut the world off in 2024, we started getting calls from the Department of Defense, and the government hosted several different divisions at our operations. In no uncertain way, they told us that if you can help us find these other critical minerals that have been embargoed also. We can help stand those operations up to expedite bringing these products to market domestically, which has not been the case for many decades. Part of what we're doing here is a joint venture with Americas Gold and Silver. This is that antimony flake that I just showed you. The material that we'd been buying historically from Teck Resources in Canada had been coming from Americas Gold and Silver's mine. Teck would process it. We would purchase the sodium antimonate off the tailgate of that process. With this joint venture, we're circumventing Teck. We're working directly together, we're building a 120,000 sq ft hydromet facility in Galena, Idaho, where their operations are located. They already have all eight permits needed. It's a turnkey operation. We can begin construction immediately. About a month ago, teams, including our CEOs from both companies, went down to Bolivia to meet our hydromet partner down there over several days of technical discussions. We came away very excited about what the future holds with this new facility we plan to build in Idaho. That about $40 million-$50 million a year that Americas Gold and Silver was leaving on the table by not realizing the value for their antimony, they now are able to bring that value in-house. Antimony is just phase I. Phase II and III are gold, silver, and copper. Construction on this facility should begin by this summer, possibly the end of this summer. We hope to complete the entire facility by the end of 2027, going operational in 2028. This 120,000 sq ft facility will be capable of doing 1,000 tons per month of this 99.9% pure antimony flake. If you look at the entire domestic market, is only around 23,000-26,000 tons per year. If we're doing 1,000 tons per month in 2028, we'll roughly be 50% of the domestic market, which is pretty unbelievable at the pace we're moving. These are some of our primary mining properties. The company historically had just been involved in the downstream processing, we knew even before, without any foresight to what China was going to do, we knew that to grow the company, we had to become vertically integrated, have our own material. That's where you start seeing better margins. In the summer of 2024, we went up to Alaska. We met with the Geological Society, and they showed us where all the historic antimony claims were going back 100 years. Antimony had been mined in Alaska going back to World War I, Vietnam War, Korean War. There was active mining operations for antimony there for munitions. Unfortunately, those had all been shut down over the decades, all that data lived with the Geological Society, whether it was geophysical, topographical, satellite data, we have all that data now. We're mapping out. We're up to around 30,000 acres now in Alaska. We just acquired another high-producing claim at the end of last year called Nolan Creek, and we received all our permits in September of last year, which unfortunately was about the same time that the winter began to set in and everything becomes inoperable up there during the winter. It's 40 below. Over the last few weeks, the temperature's come back to around 50 degrees. While it's created a lot of wet, soggy land, we have about four or five different teams that are deploying there right now and beginning work in the Alaska region. To the west of there, we have our Espanola claims, which are in cobalt, and then our tungsten claims as well, which also came through our conversations with the Department of Defense. I'll get to that information here. The tungsten claim we just filed a resource report on with the SEC recently. That shows an inferred resource of, at the time we filed it about two months ago, worth about $4 billion. I think the actual value now is closer to $9.3 billion. We will begin mining tungsten this year in 2026 in Canada. This is a little bit about our Bear River Zeolite subsidiary. It's a strategic mineral, as I mentioned. It's been used in a lot of different applications similar to antimony. The biggest ones are water filtration, animal feed. For cattle, it helps reduce methane gas in the first stomach, increases protein in the second, so you get bigger, healthier head of cattle, better feed efficiency, better nutrient conversion. Another big use is nuclear remediation. It's been used at Fukushima, Chernobyl, Three Mile Island. When management took over, this just had no salespeople. Everything was held together with baling wire and duct tape. We spent a little bit of CapEx there, improved all the efficiencies. It's now running at 98% efficient. We're building inventory. We've moved one of our SVPs over from the antimony side to the Bear River side, who now has two salespeople under her. They are growing that part of the business rapidly. I think they've already, just in the first few months, added another $2 million in annual revenue to this side of the business. There's a lot more on the horizon for zeolite. These are some of the notable milestones for the company. We've continued to improve our efficiencies. We continue to add new management to the team. We just brought on a new interim CFO, with a great background in banking and finance, as we move into this next phase of the company as we've continued to grow. When we started marketing in 2024, we had about a $30 million market cap. We're now up to about $1.2 billion. This is just a graph highlighting some of the revenue growth, and I know I'm running short here on time, so I'll just skip through. These are the large contracts that we got towards the end of last year, one being the $245 million DLA contract. This is to stockpile the national inventory of antimony. The other is a large industrial client. They're actually the largest manufacturer of flame retardant roofing material for data storage centers in the U.S. They do about $3.5 billion a year, but there's many other companies out there much larger than them in the same industry that are all looking for domestic supply. Because China cut us off, all our domestic industrial companies have been scrambling to find material and having to resort to South America, Africa, the Middle East, Southeast Asia to get their antimony. There's no quality assurance, quality control, and they're all chomping at the bit to work with a domestic company that can provide those things for them. This is a little bit outdated here. This is from our last quarter here, and we just reported about two weeks ago now. For anybody looking for updated financial information, please defer to the SEC. These are some of the anticipated catalysts that we have going on. We already announced the Hydromet Venture. We already announced a $27 million award from DOD. That was to expand our Thompson Falls facility. We announced our tungsten resource report that we filed with the SEC. We're applying for $20 million to Department of Defense to help stand that operation up. We're also applying for $44 million through Department of Energy to put our own hydromet facility in Montana, where our flotation facility is. A concurrent $75 million award for the joint venture, hydromet, that will be with Americas Gold and Silver in Idaho. The company, as I mentioned, is just growing out of control, over 56x growth since we began marketing the company about two years ago. This is just some of our financial information. You can see, revenues continue to grow. Gross profit continues to grow as well. This is a national story. We've received a lot of press and media around antimony and critical minerals in general. Obviously, being the only domestic producer, the only producer in North America, we have a heavy burden on our shoulders to meet this growing domestic demand that we're seeing coming from all different sectors. This is just a map highlighting our different operations throughout North America, South America. I'll go ahead and cut it off there, and if there's any questions, feel free to ask away. All right, Jonathan. Well, again, we're at the end of the time here for the presentation, but always appreciate your participation in the conferences here. To anyone that is watching and would like to perhaps schedule a one-on-one meeting here with the company, shoot me an email, Blum@lythampartners.com. Happy to help you there. Again, if you'd like to learn more about Lytham, make sure to visit our website or follow us on LinkedIn to stay connected on future events such as the discussion here with Jonathan. Again, thank you very much everyone for your time. Enjoy the conference. Jonathan, thank you for your participation. Thank you, Robert. Thank you, everyone.