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PROPERTIES PLANTS AND EQUIPMENT

9 Months Ended

Sep. 30, 2024

PROPERTIES PLANTS AND EQUIPMENT

PROPERTIES, PLANTS AND EQUIPMENT

NOTE 6 – PROPERTIES, PLANTS AND EQUIPMENT

The major components of the Company’s properties, plants and equipment (“PP&E”) by segment at September 30, 2024 and December 31, 2023 were as follows:

September 30, 2024		Antimony Segment								Zeolite Segment				Precious Metals
		USAC				Mexico				BRZ				Segment				TOTAL
Plant and equipment		$	1,971,255			$	394,545			$	6,576,506			$	234,174			$	9,176,480
Buildings			243,248				11,970				1,705,893				-				1,961,111
Mineral rights and interests			10,000				100,000				16,753				-				126,753
Land			1,493,609				914,443				-				-				2,408,052
Construction in progress			-				-				45,253				-				45,253
PP&E, cost		$	3,718,112			$	1,420,958			$	8,344,405			$	234,174			$	13,717,649
Accumulated depreciation			(1,765,977	)			(247,094	)			(3,762,123	)			(191,107	)			(5,966,301	)
PP&E, net		$	1,952,135			$	1,173,864			$	4,582,282			$	43,067			$	7,751,348

December 31, 2023		Antimony Segment								Zeolite Segment				Precious Metals
		USAC				Mexico				BRZ				Segment				TOTAL
Plant and equipment		$	1,971,255			$	394,545			$	6,007,694			$	234,174			$	8,607,668
Buildings			243,248				11,970				2,025,043				-				2,280,261
Mineral rights and interests			-				100,000				16,753				-				116,753
Land			1,493,609				914,443				-				-				2,408,052
Construction in progress			-				-				8,951				-				8,951
PP&E, cost		$	3,708,112			$	1,420,958			$	8,058,441			$	234,174			$	13,421,685
Accumulated depreciation			(1,723,941	)			(235,024	)			(3,524,130	)			(173,545	)			(5,656,640	)
PP&E, net		$	1,984,171			$	1,185,934			$	4,534,311			$	60,629			$	7,765,045

In May 2024, the Company made the decision to sell a non-core asset of its zeolite segment, which was a personal residence (“BRZ Home”) located near the operations of its wholly owned subsidiary, Bear River Zeolite Company (“BRZ”). In September 2024, the Company sold its BRZ Home and recorded a gain on this sale as follows:

Proceeds from the sale		$	314,125
Net book value of the BRZ Home			297,873
Gain on sale		$	16,252

Mineral rights and interests

In August 2024, the Company acquired the ownership rights to ninety-seven mining claims and three mining leases located in the Sudbury District of Ontario, Canada (“Sudbury Agreement”). Payments are to be made by the Company by the following dates for the Company to acquire these claims and leases, of which the Company has made the first payment of $10,000:

Payment Date		Payment Amount
August 2024		$	10,000
November 2024			15,000
February 2025			35,000
August 2025			40,000
August 2026			50,000
August 2027			50,000
August 2028			75,000
Total		$	275,000

These payments to acquire the mining claims and leases are capitalized when paid in the “Mineral rights and interests” component of “Properties, plants and equipment, net” in the Condensed Consolidated Balance Sheets, which amounted to $10,000 as of September 30, 2024, and will be amortized over the estimated economic life of the mineral resource based on the units-of-production method.

The Sudbury Agreement requires a royalty payment by the Company of 2.5% of the production from the claims (“Net Smelter Royalty”) with a minimum royalty payment beginning on the fifth anniversary of the agreement of $12,000 per year. 1% of the Net Smelter Royalty can be purchased back by the Company at any time for $1 million. Also, the Sudbury Agreement includes a commitment by the Company to spend an aggregate of $250,000 over four years beginning on the agreement date, with various milestones over this four-year period, in exploring and developing these claims. The Sudbury Agreement can be terminated without cause at any time by the Company with thirty days’ notice.