Welcome to the United States Antimony Corporation second quarter in six months ended June 30th 2026 Financial and Operating Results Conference Call. At this time, all participants are in a listen only mode and a question and answer session will follow the formal presentation. If you would like to ask a question, you may click on the ask question box on the left side of your screen. type your questions and hit send we do ask for each participant place or please limit to one question while submitting if anyone should require operator assistance during the webcast please press star zero on your telephone keypad and please note this conference call and webcast is being recorded i will now turn the call over to your host mr gary c evans chairman and chief This message has been transcribed.

One moment while I notify the caller.

Hello. Okay, thank you, Allie, and welcome to everybody, and thank you very much for joining us today. First, I'd like to start by introducing other members of our company's management team who will be joining me on this call today. We have five total speakers from management who will be talking about the respective divisions. They are as follows. Sean Winkler, our Interim Chief Financial Officer. Joe Barswich, our Director and Executive Vice President and Chief Mining Engineer. Damian Coleman, who's Manning Director of our Government Affairs in D.C., who we have not spoken to before. Aaron Tinesh, Vice President of our Antimony Division. And Jonathan Miller, who is Vice President of our Investor Relations area. So I'd like to start out by turning the call over to Sean Winkler, our Interim Chief Financial Officer, to go over the financial results that we just reported a few minutes ago to the public.

Thanks, Gary. It was my first full quarter with the company. I continue to be extremely impressed with our senior management, our outstanding operating team, and working closely with our high-quality advisors. It just continues to be an impressive team. Jumping to the numbers, second quarter, 2026 revenue was around $7.9 million. That is compared to $10.5 million in the second quarter of 2025. That's a decline of approximately 25% year-over-year, and that is driven almost entirely by lower realized antimony pricing. Sequentially, compared to Q1, however, revenue was up 17% from the $6.8 million we reported in the first quarter, reflecting higher antimony volumes and continued strength in our zeolite segment. On a six-month year-to-date basis, revenue was $14.7 million compared to $17.5 million for the first half of 2025. That's a 16% decrease that, again, as the aforementioned year-over-year decline and realized anti-money prices partially offset by higher volumes. Jumping into our segment breakdown, anti-money revenue was $5.9 million in the second quarter compared to $9.6 million in the prior year period. Water pounds sold increased approximately 26% year-over-year to 428,425 pounds. Average selling prices declined approximately 52% from 2832 per pound to 13.70 per pound, reflecting broader anti-money market price conditions. Importantly, average cost per pound also declined approximately 33% to 13.34, or partially mitigating the impact on lower selling prices, but not fully offset. The geolite segment continues its strong growth trajectory. Revenue increased 110% year over year to $1.9 million from about close to $1 million, driven by a 114% increase in tons sold. Obviously, our execution, the broader sales channels, especially in our cattle nutrition growth segment, has demonstrated success. Bigelite gross profit increased $0.4 million to about $1.1 million, benefiting from higher sales volume and lower average production costs per ton. Jumping to gross profit and operating loss and non-cash items, gross profit for the quarter was $0.6 million, or approximately 7% gross margin. That compares to $2.8 million and 27% margin in the prior year quarter. The margin compression is almost entirely attributable to antimony price decline, as previously discussed.