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INVENTORIES | 6 Months Ended
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Jun. 30, 2024
INVENTORIES |
INVENTORIES | NOTE 5– INVENTORIES Inventories at June 30, 2024 and December 31, 2023 consisted primarily of finished antimony metal and antimony oxide products, antimony ore and concentrates, and finished zeolite products. Inventories are stated at the lower of first-in, first-out cost or estimated net realizable value. Finished antimony products and finished zeolite products costs primarily include direct materials, direct labor, overhead, depreciation, and freight. Inventories at June 30, 2024 and December 31, 2023 were as follows:
|  | June 30, 2024 |  |  | December 31, 2023 |
Antimony oxide inventory |  | $ | 47,166 |  |  | $ | 252,927 |
Antimony metal inventory |  |  | 12,361 |  |  |  | 237,429 |
Antimony ore and concentrates inventory |  |  | 25,899 |  |  |  | 23,752 |
Total antimony inventory |  |  | 85,426 |  |  |  | 514,108 |
Zeolite inventory |  |  | 376,928 |  |  |  | 505,046 |
TOTAL INVENTORIES |  | $ | 462,354 |  |  | $ | 1,019,154 |
At June 30, 2024 and December 31, 2023, inventories were valued at cost, except for the portion of inventory related to zeolite at June 30, 2024, which was valued at net realizable value because costs were greater than the amount the Company expected to receive on the sale of zeolite inventory. The adjustment to value inventory at net realizable value was $10,501 and $nil at June 30, 2024 and 2023, respectively. Antimony oxide and metal inventory consisted of finished products held by the Company’s plant in Montana. Antimony ore and concentrates were held primarily at its plants in Montana and Mexico. The Company’s zeolite inventory consisted primarily of saleable zeolite material at the Company’s plant in Idaho.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/330/tableOfContent + Details
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