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BUSINESS SEGEMENTS
 9 Months Ended
Sep. 30, 2023
BUSINESS SEGEMENTS  
BUSINESS SEGEMENTS

NOTE 10 – BUSINESS SEGMENTS

 

The Company is organized and managed with four business segments, which represent our operating units: United States antimony operations, Mexican antimony operations, precious metals recovery and United States zeolite operations.

 

The Puerto Blanco mill and the Madero smelter at the Company’s Mexico operation bring antimony up to an intermediate or finished stage, which may be sold directly to customers in the United States or shipped to the United States operation for finishing at the Company’s plant near Thompson Falls, Montana. The Puerto Blanco mill in Mexico is the site of our crushing and flotation plant, and a cyanide leach plant which recovers precious metals after the ore goes through the crushing and flotation cycles. A precious metals recovery plant is operated in conjunction with the antimony processing plant at Thompson Falls, Montana, where a 99% precious metals mix is produced. The zeolite operation produces zeolite near Preston, Idaho. Almost all sales of products from the United States antimony and zeolite operations are to customers in the United States. Sales to foreign customers are primarily to customers in Canada.

 

Total Assets:

 

September 30,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Antimony

 

 

 

 

 

 

United States

 

$16,253,362

 

 

$21,636,386

 

Mexico

 

 

9,100,457

 

 

 

8,484,131

 

Subtotal antimony

 

$25,353,819

 

 

$30,120,517

 

Precious metals

 

 

 

 

 

 

 

 

United States

 

 

201,338

 

 

 

172,004

 

Mexico

 

 

553,981

 

 

 

625,292

 

Subtotal precious metals

 

$755,319

 

 

$797,296

 

Zeolite

 

$4,817,592

 

 

$3,782,637

 

TOTAL ASSETS

 

$30,926,730

 

 

$34,700,450

 

Capital expenditures:

 

For the three months ended

September 30,

 

 

For the nine months ended

September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Antimony

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$-

 

 

$1,655

 

 

$61,849

 

 

$81,931

 

Mexico

 

 

30,000

 

 

 

151,559

 

 

 

182,322

 

 

 

163,125

 

Subtotal antimony

 

$30,000

 

 

$153,214

 

 

$244,171

 

 

$245,056

 

Precious metals

 

 

-

 

 

 

-

 

 

 

-

 

 

 

17,518

 

Zeolite

 

 

141,864

 

 

 

56,008

 

 

 

1,275,549

 

 

 

491,247

 

Total capital expenditures

 

$171,864

 

 

$209,222

 

 

$1,519,720

 

 

$753,821

 

 

Segment operations for the three months ended September 30, 2023

 

Antimony - USA

 

 

Antimony -Mexico

 

 

Total Antimony

 

 

Precious Metals

 

 

Zeolite

 

 

Total

 

Total revenues

 

$1,391,733

 

 

$249,933

 

 

$1,641,666

 

 

$-

 

 

$671,825

 

 

$2,313,491

 

Depreciation and amortization

 

$10,360

 

 

$137,735

 

 

$148,095

 

 

$27,673

 

 

$73,193

 

 

$248,961

 

Income (loss) from operations

 

$47,534

 

 

$(1,465,000)

 

$(1,417,466)

 

$(27,673)

 

$(379,422)

 

$(1,824,561)

Other income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$180,033

 

NET LOSS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$(1,644,528)

 

Segment operations for the three months ended September 30, 2022

 

Antimony - USA

 

 

Antimony -Mexico

 

 

Total Antimony

 

 

Precious Metals

 

 

Zeolite

 

 

Total

 

Total revenues

 

$1,671,301

 

 

$-

 

 

$1,671,301

 

 

$-

 

 

$792,683

 

 

$2,463,984

 

Depreciation and amortization

 

$10,262

 

 

$154,238

 

 

$164,500

 

 

$27,673

 

 

$50,610

 

 

$242,783

 

Income (loss) from operations

 

$802,817

 

 

$(817,746)

 

$(14,929)

 

$(27,763)

 

$103,088

 

 

$60,486

 

Other expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$(10,084)

NET INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$50,402

 

 

Segment operations for the nine months ended September 30, 2023

 

Antimony - USA

 

 

Antimony -Mexico

 

 

Total Antimony

 

 

Precious Metals

 

 

Zeolite

 

 

Total

 

Total revenues

 

$4,356,077

 

 

$488,389

 

 

$4,844,466

 

 

$242,433

 

 

$1,941,009

 

 

$7,027,908

 

Depreciation and amortization

 

$29,002

 

 

$413,019

 

 

$442,021

 

 

$83,019

 

 

$189,262

 

 

$714,302

 

Income (loss) from operations

 

$(207,907)

 

$(2,877,838)

 

$(3,085,745)

 

$159,414

 

 

$(420,175)

 

$(3,346,506)

Other income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$558,529

 

NET LOSS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$(2,787,977)

 

Segment operations for the nine months ended September 30, 2022

 

Antimony - USA

 

 

Antimony -Mexico

 

 

Total Antimony

 

 

Precious Metals

 

 

Zeolite

 

 

Total

 

Total revenues

 

$6,144,490

 

 

$827,822

 

 

$6,972,312

 

 

$165,183

 

 

$2,487,116

 

 

$9,624,611

 

Depreciation and amortization

 

$30,832

 

 

$436,431

 

 

$467,263

 

 

$82,867

 

 

$143,860

 

 

$693,990

 

Income (loss) from operations

 

$2,314,965

 

 

$(1,477,387)

 

$837,578

 

 

$82,316

 

 

$279,503

 

 

$1,199,397

 

Other expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$(9,124)

NET INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$1,190,273