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

                   						FORM 10-QSB




(Mark One)

[X]     ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 (fee required)
			For the quarterly period ended March 31, 1999

[ ]     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 May 20, 1999, the registrant had outstanding 13,450,725 shares of par value
$.01 common stock.

<PAGE>

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)
                                                      March 31,        December 31,

			                                                				  1999              1998
                                        ASSETS
Current assets:
     Restricted cash                                $     222         $     221
     Inventories                                      363,113           365,398
                                                      -------           -------
		Total current assets                                363,335           365,619

Properties, plants and equipment, net                 477,809           515,392
Restricted cash for reclamation bonds                 178,986           178,986
                                                      -------           -------
            Total assets                           $1,020,130        $1,059,997
                                                    =========         =========

				LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities:
     Checks issued and payable                       $ 46,324          $ 31,089
     Accounts payable                                 311,763           256,373
     Accrued payroll and property taxes               159,677           168,482
     Accrued payroll and other                         71,085            61,999
     Judgments payable                                164,660           164,084
     Accrued debenture interest payable               354,662           348,787
     Due to related parties                            33,955            37,635
     Notes payable to bank, current                   171,330           160,017
     Note payable to Bobby C. Hamilton, current        84,726            83,157
     Debentures payable                               335,000           335,000
     Accrued reclamation costs, current               222,453           222,453
                                                      -------           -------
		 Total current liabilities                        1,955,635         1,869,076

Notes payable to bank, noncurrent                      87,472           106,793
Note payable to Bobby C. Hamilton, noncurrent       1,496,732         1,512,402
Accrued reclamation costs, noncurrent                 280,819           280,819
                                                      -------           -------
             Total liabilities                      3,820,658         3,769,090
                                                    ---------         ---------
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 $101,250,
     at December 31, 1998)                                45                45

     Series B: 750,000 shares issued and outstanding
    (liquidation preference $787,500,
     at December 31, 1998)                             7,500             7,500

     Series C: 2,560,762 shares issued and outstanding
    (liquidation preference $1,408,419,
     at December 31, 1998)                            25,608            25,608

     Common stock, $.01 par value,
     20,000,000 shares authorized;
     13,450,725 and 13,425,925 shares
     issued and outstanding                          134,507           134,259
     Additional paid-in capital                   14,081,262        14,079,260
     Accumulated deficit                         (17,049,450)      (16,955,765)
                                                  ----------        ----------
               Total stockholders' deficit        (2,800,528)       (2,709,093)
                                                  ----------        ----------
Total liabilities and stockholders'deficit       $ 1,020,130       $ 1,059,997
                                                  ==========        ==========

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

<PAGE>

United States Antimony Corporation and Subsidiary
Consolidated Statements of Operations
for the three-month periods ended March 31, 1999 and 1998 (Unaudited)



                                                   March 31,          March 31,
                                                     1999                1998
Revenues:
     Sales of antimony products and other         $ 690,302          $ 919,724
     Cost of antimony production and other          617,375            829,896
                                                    -------            -------
Gross profit                                         72,927             89,828

Other operating expenses:
     Exploration and evaluations                     33,272             30,108
     Care-and-maintenance - Yellow Jacket            38,864             74,302
     General and administrative                      62,120             58,019
                                                    -------            -------
                                                    134,256            162,429
                                                    -------            -------
Other (income) expense:
     Interest expense                                51,142             48,287
     Interest income and other                       (2,346)            (2,523)
     Gain on accounts payable write off             (16,440)
                                                    -------            -------
                                                     32,356             45,764
                                                    -------            -------
Net loss                                           $ 93,685          $ 118,365
                                                    =======            =======
Basic net loss per share of common stock           $   .01           $    .01
                                                    =======            =======
Diluted net loss per share of common stock         $   .01           $    .01
                                                    =======            =======
Basic weighted average shares outstanding         13,439,427         13,159,865
                                                  ==========         ==========
Diluted weighted average shares outstanding       16,034,252         15,720,627
                                                  ==========         ==========





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

<PAGE>


United States Antimony Corporation and Subsidiary
Consolidated Statements of Cash Flows
for the three-month periods ended March 31, 1999 and 1998 (Unaudited)


                                                      March 31,        March 31,
                                                        1999             1998
Cash flows from operating activities:
     Net loss                                        $ (93,685)      $ (118,365)
     Adjustments to reconcile net loss
     to net cash provided by
          (used in) operations:
               Depreciation                             37,583           39,113
               Issuance of stock to employees
               as compensation                           1,050
          Gain on accounts payable write off           (16,440)
               Change in:
                    Restricted cash                         (1)          15,065
                    Inventories                          2,285          (12,267)
                    Prepaid expenses                                     (3,753)
                    Accounts payable                    71,830            1,993
                    Accrued payroll and property taxes  (7,605)           8,512
                    Accrued payroll and other            9,086           27,420
                    Judgments payable                      576              115
                    Accrued debenture interest payable   5,875            8,375
                    Payable to related parties          (3,680)           4,070
                                                       -------           -------
	Net cash provided by (used in) operations:              6,874          (29,722)
                                                       -------           -------
Cash flows from investing activities:
       Purchase of properties, plant and equipment         0            (19,983)
                                                       -------           -------
	Net cash used in investing activities                     0            (19,983)
                                                       -------           -------
Cash flows from financing activities:
     Proceeds from issuance of common
     stock and warrants                                                  50,000
     Proceeds from notes payable to bank                                  4,845
     Payments on notes payable to bank                  (8,008)
     Increase in checks issued and payable              15,235            1,754
     Payments on note payable to Bobby C. Hamilton     (14,101)          (6,894)
                                                       -------           -------
      Net cash provided by (used in)
      financing activities                              (6,874)           49,705
                                                        -------           -------
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          $38,548           $38,912
                                                        =======           =======
     Noncash financing activities:
     Common stock issued in exchange for note receivable                  $ 5,000
                                                                          =======
</TABLE>

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


PART I - FINANCIAL INFORMATION, CONTINUED:

UNITED STATES ANTIMONY CORPORATION and SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

1. Notes to December 31, 1998 consolidated financial statements:

The notes to the consolidated financial statements as of December 31, 1998, as
set forth in the Company's 1998 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 are, in the opinion of
management, 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, 1998, was derived from the audited consolidated
balance sheet referred to in Note 1 above. Certain consolidated financial
statement amounts for the three-month period ended March 31, 1998,  have been
reclassified to conform to the 1999 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 at the Preachers Cove mill,
which is located nine miles north of Sunbeam, Idaho on the Yankee Fork of the
Salmon River. 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 Preachers Cove mill. The Company believes
the cleanup will be complete sometime by 2000.

On August 21, 1998, citations and a Notice of Failure to Correct Alleged
Violations were issued by the U.S. Department of Labor's Occupational Safety
and Health Administration ("OSHA") to the Company for  violations occurring at
the Company's antimony plant near Thompson Falls, Montana. The citations, with
fines totaling $115,800, were contested by the Company on September 11, 1998.
On November 18, 1998, the U.S. Department of Labor filed a complaint with the
Occupational Safety and Health Review Commission (Docket No. 98-1595)
requesting that the Commission not vacate the citations and Notice of Failure
to Correct Alleged Violations.  The case went to hearing in March, 1999, the
Company anticipates a substantial reduction in the fines levied.

<PAGE>

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED:

4. Loss per common share:

The following table presents a reconciliation of the numerators and
denominators of the basic and diluted earnings per share ("EPS") computations
for the three-month periods ended March 31, 1999 and 1998.

<TABLE>

<S>                                   <C>       <C>           <C>

                                            March 31, 1999

                                                             Per share

                                         Loss      Shares     Amounts
          Basic EPS:
          Loss                         $93,685   13,439,427    $0.01
          Common stock warrants (1)
          Series C preferred stock(2)             2,594,825
          Diluted EPS:                 -------   ----------    ------
          Loss                         $93,685   16,034,252    $0.01

                                       =======   ==========    ======


                                            March 31, 1998

                                                             Per share

                                         Loss      Shares     Amounts
          Basic EPS:
          Loss                         $118,365   13,159,865    $0.01
          Common stock warrants (1)
          Series C preferred stock(2)              2,560,762
          Diluted EPS:                 --------   ----------    ------
          Loss                         $118,365   15,720,627    $0.01

                                       ========   ==========    ======
</TABLE>

(1) Common stock warrants totaling 1,344,356 and 994,356 outstanding during
1999 and 1998, respectively,  were not included in the computation of diluted
EPS at March 31, 1999 or 1998 because the various exercise prices of the
warrants were greater than the average market price of the Company's common
stock.

(2) Series C preferred stock 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 and the antidilutive provisions of the Series C shares.


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 gold and antimony prices and
production volatility, changing market conditions and 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.

<PAGE>

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

     Results of Operations

The Company's operations resulted in a net loss of $93,685 for the three-month
period ended March  31, 1999 compared with a net loss of $118,365 for the
three-month period ended March 31, 1998.

Total revenues from antimony product sales for the first three months of 1999
were $690,302 compared with $919,724 for the comparable period in 1998, a
decrease of $229,422.   The decrease in revenues during 1999 was due to a
decrease in antimony product sales and sales prices in the first quarter of
1999 compared to the first quarter of 1998.  Sales of antimony products during
the first three months of 1999 consisted of 684,322 pounds at an average sale
price of $1.01 per pound.  During the first quarter of 1998 sales of antimony
products consisted of 781,793 pounds at an average sale price of $1.18 per
pound.   The decrease in sale prices of antimony products from the  first
quarter of 1998 to the first quarter of  1999 is the result of a corresponding
decrease in antimony metal prices.  Gross profit from antimony sales during
the first three months of 1999 was $72,927, compared with gross profit of
$89,828 during the first three months of 1998. The decrease in gross profit
during the first quarter of 1999 compared to the comparable quarter of 1998,
is primarily due to a credit issued to a customer of approximately $63,000
included in cost of sales during the first quarter of 1999.

During the first quarter of 1999 the Company reported 50% of total antimony
sales made by BCS, its sales affiliate,  and the Company.  Total sales of
antimony products by both companies was $1,380,603 or 1,368,644 pounds during
the first three months of 1999.  Substantially all of the antimony products
sold were produced at the Company's plant near Thompson Falls, Montana. In
March of 1999, the Company notified  BCS that it was canceling certain
operating agreements relating to the sales of antimony products and sharing of
profits.  In connection with the cancellation, the Company agreed to purchase
BCS's share of antimony products inventory and operate the production and
sales of antimony products independently.  On March 31, 1999, the Company
consummated the transaction and began operating the antimony business on its
own.

In August 1996, the Company discontinued gold mining operations at Yellow
Jacket due to recurring operating losses, and placed the property on a
care-and-maintenance status.  Concurrently, the Company began an underground
exploration program.  During 1998, the Company notified certain Yellow Jacket
royalty holders that its exploration efforts to date, have been unsuccessful
and that if positive results did not occur from exploration drilling at Yellow
Jacket during  1999 it would terminate its exploration program and pursue
reclamation of the property.  As a result, one royalty holder agreed to
suspend royalty payments until such time  an economically viable mineralized
body is encountered and production resumes. Another royalty holder  is
expected to suspend payments similarly. Accordingly, the company did not
accrue any minimum royalty payments due these royalty holders during the first
quarter of 1999.

Costs related to the care-and-maintenance of Yellow Jacket were $38,864 for
the three-month
period ended March 31, 1999, compared with costs of $74,302 during the
three-month period ended March 31, 1998.  The decrease was primarily due to
the non-accrual of minimum royalty payments during the first quarter of 1999,
as discussed above.  Costs related to exploration and evaluation at Yellow
Jacket were $33,272 for the three-month period ended March 31, 1999, compared
with comparable costs of $30,108 during the three-month period ended March 31,
1998.

General and administrative expenses increased $4,101 during the first three
months of 1999 as compared to the first three months of 1998. The increase was
principally due to increased legal and professional fees incurred during the
first quarter of 1999 related to the Maguire litigation, compared to the first
quarter of 1998.

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

Interest expense was $51,142 during three-month period ended March 31,1999,
compared to $48,287 for the first quarter of 1998. The increase in interest
expense is primarily due to interest costs accrued on delinquent payroll taxes
in the first quarter of 1999 compared to that of 1998.

Interest  income was $2,346 during the three-month period ended
March 31, 1999, compared to $2,523 for the same period in 1998.

During the first quarter of 1999 a gain of $16,440, resulting from the write
off of certain accounts payable was recognized, no such gain was recognized
for the comparable quarter of 1998.


Financial Condition and Liquidity

At March 31, 1999, Company assets totaled $1,020,130, and there was a
stockholders' deficit of $2,800,528. The stockholders' deficit increased
$91,435 from December 31, 1998, primarily due to the net loss incurred during
the first quarter of  1999.  In order to continue as a going concern, the
Company is dependent upon  (1) profitable operations from the antimony
division, (2) short and long-term debt financing, and (3) continued
availability of equity financing. Without financing and profitable operations,
the Company may not be able to meet its obligations, fund operations and
continue in existence. There can be no assurance that management will be
successful in its plans to improve the financial condition of the Company.

Cash provided by operating activities during the first three months of 1999
was $6,874 compared with cash used of $29,722 during the first three months of
1998.  The change in cash from operations from the first quarter of 1999
compared to the same period in 1998 was primarily due to a decrease in net
loss and increase in accounts payable during the first quarter of 1999 as
compared to the first quarter of 1998.  No cash was  used in investing
activities during the first quarter of 1999 compared to $19,982 used in
investing activities related to investment in antimony plant and equipment
during the first quarter of 1998.

Cash provided by financing activities was $49,705 during the first quarter of
1998 compared to $6,874  of cash used by financing activities during the
comparable period of 1999.  The change in cash from financing activities is
principally due to the absence of stock and warrant sales and increased
principal payments to Bobby C. Hamilton and notes payable to bank during the
first quarter of 1999 as compared to the first quarter of 1998.
In 1997, the Company exchanged a convertible debenture for Series C preferred
stock.  In connection with the exchange, the Company was required to establish
a "sinking fund" to pay a percentage of accrued interest due on the
debenture.  To date, the sinking  fund has not been formally established, but
payments of $7,500 have been made on the original balance due of $23,140. The
Company believes that funding will continue to be available to fully retire
the obligation in the months ahead.

 Other significant financial commitments for future periods will
 include:

            Servicing notes payable to bank.

            Servicing the Bobby C. Hamilton note payable.

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

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

<PAGE>

Financial Condition and Liquidity, Continued:

During the second quarter of 1999, the Company began to operate its antimony
business independent of any affiliated sales company.  Since 1991 the Company
had shared its profits on a 50/50 basis with sales affiliates, HoltraChem, and
later BCS.  The Company anticipates an increase in its overall profitability
in the antimony business as a result of the change. This increase in
profitability will assist the Company in meeting its obligations. There can be
no assurances, however, the Company will be successful in operating the
antimony business independent of a sales company, although the first few
months of operating independently have been successful.

In connection with terminating its relationship with BCS, the Company
negotiated an accounts receivable factoring arrangement to assist it in
meeting its financial and operational cash needs.

In 1996, the Yellow Jacket operation was put on a care-and-maintenance basis
after a long history of operating losses.   To date, no mineralized material
in quantities significant enough to warrant resuming production at the
property has been encountered.  If the Yellow Jacket property is abandoned,
care-and-maintenance and  exploration costs will cease and economic resources
may be generated from the sale of equipment.

               Year 2000

The Company has performed an evaluation of its computer hardware and
determined that with only a few minor exceptions, it is Y2K compliant at this
time.  Minor upgrades will be completed on accounting software in 1999 to make
it Y2K compliant at no material cost to the Company.

The Company's customers are predominantly large manufacturers.  If any of
these customers were not Y2K compliant by the end of 1999 and could not buy
the Company's antimony products, it could have a material impact on the
Company's operations.  The Company's operations could also be impacted if the
antimony metal vendors the Company acquires raw materials from were not Y2K
compliant and could not provide antimony metal.  However, management
anticipates that these companies will be ready and, therefore, the Company's
operations will not be materially impacted when the year 2000 arrives.   If
any of the Company's other business associates are not Y2K compliant by the
year 2000, management does not believe it will have a material impact on the
Company's operations.

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.

<PAGE>

PART II-OTHER INFORMATION
ITEM 1. Legal Proceedings, Continued:

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. Discovery proceeded during the first quarter of 1999, and the Company
is vigorously defending against the original complaint, as well as prosecuting
the counterclaim against the Trust and action against Mr. Maguire.

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 Montana Twentieth Judicial District Court, Sanders County against the
Company and (third party) John C. Lawrence, the Company's president and  a
director and shareholder.  Mr. Maguire's counterclaim and third party
complaint alleged damages described in separate counts of  libel and slander
suffered as a result of accusations made by the Company and Mr. Lawrence.  On
May 14, 1999, Mr. Maguire motioned the court for an order to dismiss his
Counterclaim and Third-party complaint stating that he did not have sufficient
facts upon which to rely in continuing with his Counterclaim and Third-party
complaint. The court subsequently granted the motion and the Counterclaim and
Third-party complaint were dropped.


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


The Company reported Item 4.,  "Changes in Registrant's Certifying Accountants"
 on a Current Report Form 8-K filed February 11, 1999.

<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: May 20, 1999
               John C. Lawrence, Director and President
           (Principal Executive, Financial and Accounting
                              Officer)