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Sales of Products

3 Months Ended

Mar. 31, 2022

4. Sales of Products

Our products consist of both gold flotation concentrates which we sell to a single broker (H&H Metal), and an unrefined gold-silver product known as doré which we sell to a precious metal refinery. At March 31, 2022, metals that had been sold but not final settled thus exposed to future price changes totaled 1,205 ounces of gold. The Company has received provisional payments on the sale of these ounces with the remaining amount due reflected in gold sales receivable. Sales of products by metal type for the three-month periods ended March 31, 2022, and 2021 were as follows:

	March 31,
	2022			2021
Gold	$	2,183,024		$	1,716,616
Silver		3,440			5,080
Less: Smelter and refining charges		(142,047	)		(135,069	)
Total	$	2,044,417		$	1,586,627

Sales by significant product type for the three-month periods ended March 31, 2022, and 2021 were as follows:

	March 31,
	2022		2021
Concentrate sales to H&H Metal	$	2,044,417	$	1,510,119
Dore sales to refinery		-		76,508
Total	$	2,044,417	$	1,586,627

At March 31, 2022 and December 31, 2021, our gold sales receivable balance related to contracts with customers of $806,417 and $408,187, respectively, consist only of amounts due from H&H Metal. There is no allowance for doubtful accounts.