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PROPERTY, PLANT AND EQUIPMENT

6 Months Ended

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.