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PROPERTY, PLANT AND EQUIPMENT | 6 Months Ended
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Jun. 30, 2025
PROPERTY, PLANT AND EQUIPMENT |
PROPERTY, PLANT AND EQUIPMENT | NOTE 8 – PROPERTY, PLANT AND EQUIPMENT The major components of the Company’s property, plant and equipment (“PP&E”) by segment at June 30, 2025 and December 31, 2024 were as follows:
June 30, 2025 |  | Antimony |  |  | Zeolite |  |  | All Other |  |  | TOTAL |
Plant and equipment |  | $ | 13,730,854 |  |  | $ | 6,629,086 |  |  | $ | 469,320 |  |  | $ | 20,829,260 |
Buildings |  |  | 1,106,303 |  |  |  | 1,705,893 |  |  |  | 456,970 |  |  |  | 3,269,166 |
Mineral rights and interests |  |  | 230,000 |  |  |  | 16,753 |  |  |  | 5,504,863 |  |  |  | 5,751,616 |
Land |  |  | 2,083,094 |  |  |  | - |  |  |  | 914,443 |  |  |  | 2,997,537 |
Construction in progress |  |  | 996,878 |  |  |  | 97,634 |  |  |  | - |  |  |  | 1,094,512 |
Total property, plant and equipment |  |  | 18,147,129 |  |  |  | 8,449,366 |  |  |  | 7,345,596 |  |  |  | 33,942,091 |
Accumulated depreciation |  |  | (9,941,059 | ) |  |  | (4,007,975 | ) |  |  | (267,062 | ) |  |  | (14,216,096 | )
Property, plant and equipment, net |  | $ | 8,206,070 |  |  | $ | 4,441,391 |  |  | $ | 7,078,534 |  |  | $ | 19,725,995 |
December 31, 2024 |  | Antimony |  |  | Zeolite |  |  | All Other |  |  | TOTAL |
Plant and equipment |  | $ | 13,512,321 |  |  | $ | 6,597,781 |  |  | $ | 427,720 |  |  | $ | 20,537,822 |
Buildings |  |  | 1,106,303 |  |  |  | 1,705,893 |  |  |  | 11,970 |  |  |  | 2,824,166 |
Mineral rights and interests |  |  | - |  |  |  | 16,753 |  |  |  | 125,000 |  |  |  | 141,753 |
Land |  |  | 2,083,094 |  |  |  | - |  |  |  | 914,443 |  |  |  | 2,997,537 |
Construction in progress |  |  | - |  |  |  | 101,938 |  |  |  | - |  |  |  | 101,938 |
Total property, plant and equipment |  |  | 16,701,718 |  |  |  | 8,422,365 |  |  |  | 1,479,133 |  |  |  | 26,603,216 |
Accumulated depreciation |  |  | (9,602,469 | ) |  |  | (3,857,785 | ) |  |  | (251,515 | ) |  |  | (13,711,769 | )
Property, plant and equipment, net |  | $ | 7,099,249 |  |  | $ | 4,564,580 |  |  | $ | 1,227,618 |  |  | $ | 12,891,447 |
In February 2025, the Company purchased a personal residence located near its operations in Thompson Falls, Montana for $445,000, which is presently being used by management personnel that were transferred there and are now working in Montana predominantly on our expansion efforts. This asset and related expenses are included in the “All Other” category in the Company’s segment reporting. Mineral rights and interests In January 2025, the Company executed an agreement to acquire the ownership rights to one hundred and twenty mining claims located in the Fairbanks District of Alaska (“January Fairbanks Agreement”). Payments to acquire these claims have been or will be made by the Company on or around the payment dates indicated as follows:
Payment Date |  | Payment Amount |
January 2025 |  | $ | 100,000 |
July 2025 |  |  | 50,000 |
January 2026 |  |  | 50,000 |
July 2026 |  |  | 50,000 |
January 2027 |  |  | 50,000 |
July 2027 |  |  | 50,000 |
January 2028 |  |  | 50,000 |
July 2028 |  |  | 50,000 |
January 2029 |  |  | 100,000 |
July 2029 |  |  | 100,000 |
January 2030 |  |  | 100,000 |
July 2030 |  |  | 2,250,000 |
Total |  | $ | 3,000,000 |
The January Fairbanks Agreement requires a royalty payment by the Company based on the actual production from the claims (“Net Smelter Royalty on Claims”) and another royalty payment by the Company based on the actual production, if any, from certain areas surrounding these one hundred and twenty mining claims (“Net Smelter Royalty on Surrounding Area”). A certain percentage of the Net Smelter Royalty on Claims can be purchased back by the Company with certain factors causing an escalation in this buyback amount. Also, the January Fairbanks Agreement includes a commitment by the Company to spend an aggregate of $2,250,000 on exploring and developing these claims over five years beginning January 2025, with various milestones over this five-year period. The January Fairbanks Agreement can be terminated without cause at any time by the Company with notice. In March 2025, the Company executed an agreement to acquire the ownership rights to twenty-five additional mining claims and leases located in the Fairbanks District of Alaska (“March Fairbanks Agreement”). Payments to acquire these claims and leases have been or will be made by the Company on or around the payment dates indicated as follows:
Payment Date |  | Payment Amount |
March 2025 |  | $ | 50,000 |
September 2025 |  |  | 25,000 |
March 2026 |  |  | 25,000 |
March 2027 |  |  | 25,000 |
March 2028 |  |  | 25,000 |
March 2029 |  |  | 275,000 |
Total |  | $ | 425,000 |
The March Fairbanks Agreement requires a royalty payment by the Company based on the actual production from the claims and leases (“Net Smelter Royalty”). A certain percentage of the Net Smelter Royalty can be purchased back by the Company. Also, the March Fairbanks Agreement includes a commitment by the Company to spend an aggregate of $250,000 on exploring and developing these claims and leases over approximately forty-one months beginning March 2025, with various milestones over this period. The March Fairbanks Agreement can be terminated without cause by the Company with notice. In May 2025, the Company paid $230,000 to acquire the surface rights related to its patented lode mining claim located in Thompson Falls, Montana. In June 2025, the Company acquired property located in the Sudbury District of Ontario, Canada, which included 50 single-cell mining claims (the Fostung Properties) for $5,000,000. Direct transaction costs related to this acquisition totaled $25,120. In addition, the agreement requires the Company to pay a net smelter return royalty based on actual production from the property. Effective June 1, 2025, the Company executed an agreement to acquire the ownership rights to various patented federal lode mining claims located in the Fairbanks District of Alaska (“June Fairbanks Agreement”). Payments to acquire these claims are scheduled to be made by the Company as follows:
Payment Date |  | Payment Amount |
Within 10 days of June 1, 2025 |  | $ | 150,000 |
December 2025 |  |  | 100,000 |
June 2026 |  |  | 100,000 |
June 2027 |  |  | 100,000 |
June 2028 |  |  | 100,000 |
June 2029 |  |  | 1,450,000 |
Total |  | $ | 2,000,000 |
The June Fairbanks Agreement requires net smelter royalty payments be made by the Company based on actual production from the claims. Also, the agreement includes a commitment by the Company to spend an aggregate of $700,000 in exploring and developing these claims based on various milestones scheduled to occur over approximately thirty-nine months from the effective date of the agreement. This agreement can be terminated without cause at any time by the Company with ninety-days’ notice. The payments made to acquire these mining claims and leases, including any direct transaction costs, are capitalized in the “Mineral rights and interests” component of “Property, plant and equipment, net” in the Condensed Consolidated Balance Sheets and included in the “All Other” category for segment reporting.

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