UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C. 20549

                              FORM 10-QSB




(Mark One)

[X]     QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE 
ACT OF 1934 (fee required)
For the quarterly period ended September 30, 1998

[ ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES 
EXCHANGE ACT OF 1934 (no fee required)

                      For the transition period
                                 to
   



                   Commission file number 33-00215

                 UNITED STATES ANTIMONY CORPORATION

            (Name of small business issuer 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



Check 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 [X]

No



At November 13, 1998, the registrant had outstanding 13,390,434 shares of par 
value $.01 common stock.



PART I - FINANCIAL INFORMATION
ITEM 1. Financial Statements and Supplementary Data

United States Antimony Corporation and Subsidiary
Consolidated Balance Sheets
<TABLE>

<S>                             <C>                  <C>                                                     
                                 (Unaudited) 
                                 September 30,          December 31,
       
                                   1998                   1997
                                
 ASSETS
Current assets:
     Restricted cash               $        88         $     15,280
     Inventories                       349,910              463,282      
     Prepaid expenses                                         7,727
                                       -------              ------- 
Total current assets                   349,998              486,289 
          
Properties, plants and equipment, net  550,186              637,022           
Restricted cash, reclamation bonds     178,986              178,986 
                                       -------              -------    
Total assets                       $ 1,079,170          $ 1,302,297
                                     =========            =========
     
     LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
     Checks issued and payable     $    46,604          $    42,384
     Accounts payable                  240,710              125,082          
     Accrued payroll and 
       property taxes                  149,174              118,801          
     Accrued payroll and other          73,332               43,707          
     Judgments payable                 156,093              142,937          
     Accrued debenture 
       interest payable                340,412              320,287          
     Due to related parties             39,725               31,707
     Notes payable to bank             144,226              177,079     
     Note payable to Bobby C. Hamilton, 
       current                          29,235               27,626          
     Debentures payable                335,000              335,000
     Accrued reclamation costs, 
       current                         216,700              216,700 
                                       -------              -------
Total current liabilities            1,771,211            1,581,310

Notes payable to bank, noncurrent      146,284               90,269
Note payable to Bobby C. Hamilton, 
       noncurrent                    1,581,859            1,616,516          
Accrued reclamation costs, 
       noncurrent                      286,572              339,844
                                       -------              -------
Total liabilities                    3,785,926            3,627,939
                                       -------              -------
Commitments and contingencies  

Stockholders' deficit:
Preferred stock, $.01 par value, 
  10,000,000 shares authorized:
   Series A: 4,500 shares 
   issued and outstanding
   (liquidation preference $96,750)         45                  45

   Series B: 750,000 shares 
   issued and outstanding (liquidation 
   preference $780,000)                   7,500               7,500

   Series C: 2,560,762 shares issued 
   and outstanding(liquidation preference
   $1,408,419)                           25,608              25,608
   
Common stock, $.01 par value, 20,000,000
   shares authorized; 13,390,434 and 
   13,065,434 shares issued and 
   outstanding                          133,904             130,654
     
Additional paid-in capital           14,074,639          13,997,889          
Note receivable from stockholder         (5,000)
     Accumulated deficit            (16,943,452)        (16,487,338) 
                                     ----------          ----------
Total stockholders' deficit          (2,706,756)         (2,325,642) 
                                     ----------          ----------

Total liabilities and 
     stockholders'deficit           $ 1,079,170         $ 1,302,297            
                                      =========           =========


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

</TABLE>



<PAGE>

United States Antimony Corporation and Subsidiary
Consolidated Statements of Operations
for the three and nine-month periods ended September 30, 1998 and 1997

                  (Unaudited)
<TABLE>
<S>                         <C>               <C>                 <C>              <C>        
                                                                                
                                    Three Months Ended               Nine Months Ended
                                        September 30,                   September 30,
                                                                                
                                1998               1997               1998             1997     
Revenues:

Sales of antimony products    $650,011          $1,083,361          $2,456,671     $3,386,667
Cost of antimony production    708,948             801,041           2,290,921      2,737,414
                               -------            --------            --------       --------
Gross profit (loss)            (58,937)            282,320             165,750        649,253
                               -------            --------            --------       -------- 
Operating expenses:

Care-and-maintenance
    Yellow Jacket               46,182              48,336             174,829        157,949
Exploration and evaluation      31,108              44,961              94,542        123,253
General and administrative
    expenses                    68,118              77,621             224,275        223,789
                               --------            --------            --------       --------      
                               145,408             170,918             493,646        504,991
                               --------            --------            -------        --------
Other expenses (income):

Gain from accounts payable 
     adjustment                                                                       (37,386)
Interest expense                48,503              79,251             149,053        227,980 
Interest income and other       (2,505)            (19,469)            (20,835)       (28,187)
                               --------            --------            --------       --------
                                45,998              59,782             128,218        162,407
                               --------            --------            --------       -------- 
Net income (loss)             $(250,343)          $ 51,620          $ (456,114)      $(18,145)
                               ========            ========            ========       ========                                     
Basic net income (loss)
      per common share        $  (0.02)           $  Nil            $   (0.03)       $   Nil   
                                 ======              ===                ======           ===  
Diluted net income (loss)
      per common share        $  (0.02)           $  Nil            $   (0.03 )      $   Nil
                                 ======              ===                ======           ===    

Basic weighted average 
       shares outstanding     13,353,767         13,058,767           13,269,069     12,952,997
                              ==========         ==========           ==========     ==========
Diluted weighted average
       shares outstanding     15,914,529         13,058,767           15,829,831     12,952,997                           ======== 
                              ==========         ==========           ==========     ==========







The accompanying notes are an integral part of the consolidated financial 
statements
</TABLE>

<PAGE>



United States Antimony Corporation and Subsidiary
Consolidated Statements of Cash Flows

for the Nine-month periods ended September 30, 1998 and 1997

<TABLE>
<S>                                                  <C>                <C>  
 
                        (Unaudited)                                                                     
                                                                 September 30,

                                                             1998                 1997
Cash flows from operating activities:
     Net loss                                         $    (456,114)     $       (18,145)
     Adjustments to reconcile net loss  to net cash
          used in operations:
               Depreciation                                 118,018              122,331
               Issuance of stock to directors as compensation                      5,063
               Reserve for production costs                                       43,000
               Gain on adjustment to accounts payable                            (37,386)
          Change in:
                    Restricted cash                          15,192              (43,518)
                    Accounts receivable                                           32,837
                    Inventories                             113,372               (8,503)     
                    Prepaid expenses                          7,727               10,148
                    Accounts payable                        115,628             (147,221)
                    Accrued payroll and property taxes       30,373               (9,510)
                    Accrued payroll and other                29,625               (2,306)
                    Judgments payable                        13,156               11,160
                    Accrued debenture interest payable       20,125               90,647
                    Due to related parties                    8,018              (36,122)
                    Accrued reclamation costs               (53,272)             (60,901)
                                                            --------             --------             
          Net cash used in operating activities             (38,152)             (48,426)
                                                            --------             --------
Cash flows from investing activities:
         Purchase of properties, plant and equipment        (31,181)             (92,719)
                                                            --------             --------
          Net cash used in investing activities             (31,181)             (92,719)
                                                            --------             --------
Cash flows from financing activities:
     Proceeds from issuance of common stock and warrants     75,000              210,000
     Proceeds from  bank borrowings                         190,050               43,814
     Payments on notes payable to bank                     (166,889)             (58,057)          
     Change in checks issued and payable                      4,220                3,925           
     Payments on note payable to Bobby C. Hamilton          (33,048)             (58,537)
                                                            --------             --------
          Net cash provided by financing activities          69,333              141,145
                                                            --------             --------
Net change  in cash                                             0                    0
Cash, beginning of period                                       0                    0 
                                                            --------             --------
Cash, end of period                                        $    0              $     0
                                                            ========             ========
Supplemental disclosures:
     Cash paid during the period  for interest             $ 128,928           $  137,333
                                                            ========             ========
     Noncash financing activities:
     Common stock issued in exchange for note receivable   $   5,000 
                                                            ========




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

</TABLE>

<PAGE>


PART I - FINANCIAL INFORMATION (Continued)

UNITED STATES ANTIMONY CORPORATION and SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

1. Notes to December 31, 1997 consolidated financial statements:

The notes to the consolidated financial statements as of December 31, 1997, as 
set forth in the Company's 1997 Annual Report on Form 10-KSB, substantially 
apply to these interim consolidated financial statements and are not repeated 
here.
     
2. Adjustments to financial statements:
     
The financial statements reflect all adjustments which, in the opinion of 
management, are necessary to a fair statement of the results for the interim 
periods reported.  All such adjustments are of a normal recurring nature.  All 
financial statements presented herein are unaudited.  However, the balance 
sheet as of December 31, 1997, was derived from the audited consolidated 
balance sheet referred to in Note 1 above. Certain consolidated financial 
statement amounts for the nine-month period ended September 30, 1997,  have 
been reclassified to conform to the 1998 presentation.  These 
reclassifications had no effect on the net loss or accumulated deficit as 
previously reported.

3. Commitments and contingencies:

Until 1989, the Company mined, milled and leached gold and silver in the 
Yankee Fork Mining District in Custer County, Idaho. The metals were recovered 
by a 150-ton per day gravity and flotation mill, and the concentrates were 
leached with cyanide to produce a bullion product. In 1994, the U.S. Forest 
Service, under the provisions of the Comprehensive Environmental Response 
Liability Act of 1980 (CERCLA), designated the cyanide leach plant as a 
contaminated site requiring cleanup of the cyanide solution. In 1996, the 
Company signed a consent decree with the Idaho Department of Environmental 
Quality  relating to completing the reclamation and remediation at the mill 
site. During the third quarter of 1998 the Company disposed of a significant 
portion of the hazardous waste contained at the site and expects to have the 
remainder of the cleanup completed during 1999.  The Company believes that it 
has accrued reclamation costs that are sufficient to cover the ultimate 
costs of completing the reclamation and remediation. 
          
During the second quarter of 1998, an action was filed against  the 
Company seeking recovery of certain debentures payable, accrued interest, and
legal costs (See Part II, Item 1. Legal Proceedings).  In response, the Company
has filed a counterclaim  and its own action, which was answered with another
counterclaim and action against the Company and its president for libel and 
slander.  The ultimate outcome  of these proceedings may have an adverse impact 
on the financial condition of the Company.

4. Significant accounting policies:

          Loss Per Common Share

In February 1997, the Financial Accounting Standards Board issued SFAS No. 
128, "Earnings Per Share," which became effective for reporting periods ending 
after December 15, 1997.  Under the provisions of SFAS No. 128, primary and 
fully-diluted earnings per share were replaced with basic and diluted earnings 
per share.  Basic earnings per share is arrived at by dividing net income 
(loss) available to common stockholders by the weighted-average number of 
common shares outstanding; it does not include the impact of any potentially 
dilutive common stock equivalents. 

<PAGE>
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED

4. Significant accounting policies, Continued:

The diluted earnings per share calculation is arrived at by dividing net 
income (loss) by the weighted-average number of shares outstanding, adjusted 
for the dilutive effect of any outstanding stock options, the conversion 
impact of convertible preferred stock, and shares issuable under warrants or 
other contracts.

During 1998 and 1997 the Company had outstanding common stock warrants 
that were exercisable at prices higher than the trading value of the Company's 
stock and, therefore, antidilutive.  Accordingly, the warrants have no effect 
on the calculation of basic or diluted weighted-average number of shares.  In 
1998, the Company had 2,560,762 shares of Series C preferred stock that were 
outstanding during the nine-month period.  The Series C preferred stock is 
convertible into common stock of the Company and thus considered in the
calculation of diluted weighted-average number of  shares outstanding.

The following table presents a reconciliation of the numerators and 
denominators of the basic and diluted earnings per share ("EPS") computations 
for the  nine-month periods ended September 30, 1998 and 1997.
<TABLE>

<S>                          <C>             <C>                  <C>
                                                                                
                                 Loss          Shares               Amounts
          
          Basic EPS           $(456,114)     13,269,069             $(0.03)                       
 Common stock warrants (1)
 Series C preferred stock(2)                  2,560,762                        
                               --------      ----------              ------            
          Diluted EPS         $(456,114)     15,829,831             $(0.03)
                               ========      ==========              ======
                               

                                                                                
 
                                 Loss          Shares               Amounts
          
          Basic EPS           $(18,145)      12,952,997                Nil                       
 Common stock warrants (1)
 Series C preferred stock(2)                                          
                               --------      ----------              ------            
          Diluted EPS         $(18,145)      12,952,997                Nil
                               ========      ==========              ======
                               
                                             
                                                                              

                                              
    (1) Common stock warrants outstanding during 1998 and 1997  
were not included in the computation of diluted EPS at September 30, 
1998 or 1997 because the various exercise prices of the warrants exceeded    
the average market price of the Company's common stock, thus making them 
antidilutive.
    

    (2) Series C preferred stock, which was issued in November of 1997, is 
convertible into common stock of the company on a share-for-share basis.  The 
effect on the computation of diluted weighted average shares outstanding is 
based upon the potential conversion of the shares into common stock for the 
period of time the preferred shares were outstanding.

</TABLE>

<PAGE>


NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED

4. Significant accounting policies, Continued 

In June 1997, the Financial Accounting Standards Board issued SFAS No. 130,
"Reporting Comprehensive Income."  This statement establishes standards for 
reporting the components of comprehensive income prominently within the 
financial statements.  Comprehensive income includes net income plus certain 
transactions that are reported directly within stockholders' equity. The 
statement is effective in 1998 and its adoption will have no material impact 
on the financial condition or results of operations of the Company. In June 
1997, the Financial Accounting Standards Board issued SFAS No. 131, 
"Disclosures about Segments of an Enterprise and Related Information."  This 
statement requires the disclosure of financial information about a company's 
operating segments in interim and annual financial statements.  The definition 
of operating segments is to be based upon internal management practices of the 
company.  The statement is effective in 1998 and its adoption will have no 
material impact on the financial condition or results of operations of the 
Company.

In February 1998, the Financial Accounting Standards Board issued SFAS No. 
132, "Employers' Disclosures about Pensions and Other Postretirement 
Benefits."  This statement standardizes disclosure for retiree benefits and 
eliminates certain disclosures that are no longer useful. The statement is 
effective for fiscal years beginning after December 15, 1997, and its adoption 
will have no material impact on the financial condition or results of 
operations of the Company.

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

     General

Certain matters discussed are forward-looking statements that involve risks 
and uncertainties, including the impact of antimony and gold prices and 
production volatility, changing market conditions, the regulatory environment 
and other risks. Actual results may differ materially from those projected. 
These forward-looking statements represent the Company's judgment as of the 
date of this filing. The Company disclaims, however, any intent or obligation 
to update these forward-looking statements.

     Results of Operations

The Company's operations resulted in a net loss of $456,114 for the nine-month 
period and a net loss of $250,343 for the three-month period ended September 
30, 1998, compared with a net loss of  $18,145 for the nine-month period and 
net income of $51,620 for the three-month period ended September 30, 1997.
Total revenues from antimony product sales for the nine and three-month 
periods ended September 30, 1998, were $2,456,671 and $650,011, respectively, 
compared with $3,386,667 and $1,083,361 for the comparable respective periods 
in 1997.   The decrease in revenues during 1998 was primarily due to a decrease 
in antimony product prices in 1998 compared to 1997. Sales of antimony products 
during the first nine months of 1998 consisted of 2,189,207 pounds at an 
average sales price of $1.12 per pound.  During the first nine months of 1997 
sales of antimony products consisted of 2,346,732 pounds at an average sales 
price of $1.44 per pound.   The decrease in sales prices of antimony products 
from  1998 to  1997 is the result of a corresponding  market decrease in 
antimony metal prices.  Gross profit (loss) from antimony sales during the 
nine-month and three-month periods of 1998 was $165,750 and ($58,937),
respectively, compared with gross profit of  $649,253 and $282,320 for the 
nine-month and three-month periods of 1997.


ITEM 2.Management's Discussion and Analysis of Results of
     Operations and Financial Condition, Continued     

The decrease in gross profit during 1998 compared to 1997, is again primarily 
due to decreased antimony product sales prices.  The gross loss experienced 
during the third quarter of 1998 was primarily due to $116,000 of fines and 
penalties levied against the Company  for various Occupational Safety and 
Health Administration ("OSHA") for violations in August 1998 at its 
antimony plant.  The Company contested the fines during the third quarter of 
1998 and anticipates an ultimate reduction in the fines.

The Company reports 50% of total antimony sales made by HoltraChem and the 
Company, pursuant to the operating agreements with HoltraChem.  Total sales
of antimony products by both companies amounted to $4,913,341, or 4,378,414 
pounds, during the first nine months of 1998. Substantially all of the antimony 
products sold were produced at the Company's plant near Thompson Falls, Montana.

In September of 1998, HoltraChem  sold its share of antimony inventory, and
assigned its interest in the operating agreements with the Company, to another 
chemical distribution company, Basic Chemical Solutions ("BCS"). BCS has 
indicated a desire to continue to participate with the Company in the 
marketing and sale of antimony products according to the terms of the 
agreements.  The Company does not anticipate that BCS's participation will
adversely affect the Company's antimony business. 
 
     
In August 1996, the Company discontinued mining operations at its Yellow 
Jacket property due to recurring operating losses, and placed the property on 
a care-and-maintenance basis.  Concurrently, the Company began an underground 
exploration program in an effort to discover additional mineralized material 
that could be economically mined and processed.  
     
Costs related to the care-and-maintenance of Yellow Jacket were $174,829 and 
$46,182 for the nine and three-month periods ended September 30, 1998, 
respectively,  compared with $157,949 and $48,336 during the same respective
periods of 1997.  The increase in care-and-maintenance costs during 1998 is
primarily due to increased equipment repairs and minimum royalty and accrued
interest  costs incurred during  1998.

Costs related to exploration and evaluation at Yellow 
Jacket were $94,542 and $31,108 for the nine and three-month periods ended 
September 30, 1998, respectively,  compared with $123,253 and $44,961 during 
the same respective periods of 1997.  The decrease in exploration and 
evaluation costs during 1998 reflect decreased equipment maintenance costs 
during 1998.

General and administrative expenses were almost identical for the comparable
nine-month periods of 1998 and 1997, and decreased $9,503 during the third 
quarter of 1998 from the comparable quarter of 1997.

Interest expense was $149,053 and $48,503 for the nine and three-month periods 
ended September 30, 1998, respectively,  compared with $227,980 and $79,251 
during the same respective periods of 1997.  The reduction in interest expense 
during the nine and three-month periods in 1998 compared to the same periods 
of 1997  was due to a decrease in outstanding debenture and director debts 
payable that were converted into Series C preferred stock during the fourth 
quarter of 1997.

Interest and other  income  was $20,835 and $2,505 for the nine and 
three-month periods ended September 30, 1998, respectively,  compared with 
$28,187 and $19,469 during the same respective periods of 1997.  The decrease 
in interest and other income during 1998 was primarily attributable to other 
income from gold sales realized during the third quarter of 1997, that were 
not realized during 1998.

Financial Condition and Liquidity
        
At September 30, 1998, the Company's assets totaled $1,079,170, and there was 
a stockholders' deficit of $2,706,756. The stockholders' deficit increased  
$381,114 from December 31, 1997, primarily due to the net loss recognized from 
the Company's operations during the first nine months of 1998.

Cash used by operating activities during the first nine months of 1998 was 
$38,152 compared with $48,426 during the first nine months of 1997.  During 
both nine month periods of 1998 and 1997, the Company's net loss from 
operations contributed  to cash used by operations. 

Cash used in investing activities was $31,181 during the first nine months of 
1998 and $92,719 during the first nine months of 1997.During both nine-month 
periods in 1998 and 1997, cash consumed by investing activities related to 
purchases of antimony plant and equipment.

Cash provided by financing activities totaled $69,333 during the nine month 
period ended September 30, 1998, compared to $141,145 during the comparable 
period of 1997.  During both 1998 and 1997, proceeds from the issuance of 
common stock and warrants and bank borrowings contributed most of the net cash 
provided from financing activities.

The Company has been able to avoid bankruptcy and a termination of operations 
through borrowings from stockholders, directors, and a bank, common stock 
sales, and  lack of creditor action. There can be no assurance, however, that 
the Company will be able to continue to meet its obligations and continue in 
existence as a going concern.

To continue as a going concern the company must continue to generate cash from 
operations and financing activities sufficient  to address the following 
financial commitments.

               . Providing $5,000 per month for a "sinking fund" to pay 
           accrued interest related to  debentures converted in 1997.

               . Servicing borrowings from the bank.
               
               . Servicing the Hamilton note payable at a minimum of 
           $150,000 in principal and interest annually. 

               . Keeping current on property, payroll, and income tax 
           liabilities and accounts payable.

               . Fulfilling responsibilities with environmental, labor 
           safety and securities regulatory agencies.

               . Paying annual care-and-maintenance costs at the Yellow 
           Jacket mine, to the extent the Company continues to retain  
           the property.

               . Funding minimum annual royalty payments to Geosearch and 
           Yellow Jacket, Inc.

          
              . Funding legal fees and other costs incurred relating to 
           litigation brought against the Company in 1998 
           (See Part II, Item 1. Legal Proceedings).




<PAGE>

PART II-OTHER INFORMATION

ITEM 1. Legal Proceedings

On April 8, 1998, Ronald Michael Meneo, Trustee of the Walter L. Maguire 
1935-1 Trust ("The Trust"), filed an action in the Twentieth Judicial District 
Court of Sanders County, Montana against the Company. The action seeks to 
recover principal amounts totaling $335,000 due on defaulted convertible and 
subordinated convertible debentures held by The Trust.  The action also seeks 
to recover accrued interest on the principal amounts of the debentures at the 
rate of ten percent per annum that was due on the maturity dates of the 
debentures, interest at ten percent on all principal and interest due on the 
debentures accruing from the dates of maturity to the present, and all amounts 
relating to The Trust's legal fees incurred in bringing the action. 

On June 26, 1998, the Company filed an  Answer, Counterclaim, and request for 
Jury Trial in the Montana Twentieth Judicial District Court, Sanders County, 
in response to the action filed on April 8, 1998.  In the filing the Company 
denied the Trust's complaint and alleged a counterclaim against the Trust, 
citing breach of contract and breach of implied covenant of good faith and 
fair dealing.

On July 15, 1998, the Company filed an action in the Montana Twentieth 
Judicial District Court, Sanders County,  against Walter L. Maguire, Sr., a 
director and shareholder.  The complaint  alleges damages suffered by the 
Company as a result of Mr. Maguire's actions described in three counts:   1) 
Breach of Director Duties, 2) Conspiracy, and 3) Constructive Fraud. The 
allegations set forth in the complaint describe Mr. Maguire's alleged 
representations that he controlled the Walter L. Maguire 1935-1 Trust, and led 
the Company and other shareholders to detrimentally  believe that certain 
defaulted debentures held by the Trust would be converted to Series C 
Preferred  Stock in accordance with an Offer to Purchase  dated November 21, 
1997, that was submitted to the Trust and other debt holders. The complaint 
seeks damages of $1,500,000 and a further amount to be proven at trial.
     
On October 13, 1998 Mr. Maguire responded to the action filed on July 15, 
1998, by filing an Answer, Counterclaim and Third-Party complaint in the 
Twentieth Judicial District Court, Sanders County, Montana against the Company 
and John C. Lawrence, the Company's president and  a director 
and shareholder.  Mr. Maguire's counterclaim and third party complaint alleges 
damages described in separate counts of  libel and slander suffered as a 
result of accusations made by the Company and Mr. Lawrence. Mr. Maguire's 
action requests an award for actual and punitive damages in amounts to be 
proven at trial.

ITEMS 2, 3, 4, and 5 are omitted from this report as inapplicable.




PART II- OTHER INFORMATION, CONTINUED

 ITEM 6. Exhibits and Reports on Form 8-K

No reports on Form 8-K

Exhibits filed with this report

Exhibit No.          Item                       Dated
-----------          -----                      -----
10.30			ANSWER, COUNTERCLAIM      October 13, 1998
			AND THIRD-PARTY 
			COMPLAINT - 1




<PAGE>

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)



By:/s/ John C. Lawrence Date: November 13, 1998
John C. Lawrence, Director and President
(Principal Executive, Financial and Accounting
Officer)