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INVENTORIES

9 Months Ended

Sep. 30, 2024

NOTE 5– INVENTORIES

Inventories at September 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 September 30, 2024 and December 31, 2023 were as follows:

	September 30, 2024		December 31, 2023
Antimony oxide inventory	$	230,958	$	252,927
Antimony metal inventory		145,129		237,429
Antimony ore and concentrates inventory		35,670		23,752
Total antimony inventory		411,757		514,108
Zeolite inventory		555,057		505,046
TOTAL INVENTORIES	$	966,814	$	1,019,154

At September 30, 2024 and December 31, 2023, inventories were valued at cost, except for the portion of inventory related to zeolite at September 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 $63,574 and $nil at September 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 located in Idaho.