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Sales of Products

6 Months Ended

Jun. 30, 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 June 30, 2022, metals that had been sold but not final settled thus exposed to future price changes totaled 2,568 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 and six-month periods ended June 30, 2022, and 2021 were as follows:

	June 30, 2022						June 30, 2021
	Three Months			Six Months			Three Months			Six Months
Gold	$	2,547,096		$	4,730,119		$	2,296,378		$	4,010,102
Silver		3,517			6,958			9,103			13,424
Less: Smelter and refining charges		(192,121	)		(334,168	)		(125,249	)		(256,667	)
Total	$	2,358,492			4,402,909		$	2,180,232			3,766,859

Sales by significant product type for the three and six-month periods ended June 30, 2022, and 2021 were as follows:

	June 30, 2022				June 30, 2021
	Three Months		Six Months		Three Months		Six Months
Concentrate sales to H&H Metal	$	2,054,876	$	4,099,293	$	2,180,232	$	3,690,351
Dore sales to refinery		303,616		303,616		-		76,508
Total	$	2,358,492	$	4,402,909	$	2,180,232	$	3,766,859

At June 30, 2022 and December 31, 2021, our gold sales receivable balance related to contracts with customers of $734,594 and $408,187, respectively, consist only of amounts due from H&H Metal. There is no allowance for doubtful accounts.