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Sales of Products

6 Months Ended

Jun. 30, 2024

Sales of Products

Sales of Products

4. Sales of Products

Our products consist of both gold flotation concentrates which we sell to a single broker (H&H Metals), and an unrefined gold-silver product known as doré which we sell to a precious metal refinery (Cascade Refining). At June 30, 2024, metals that had been sold but not finally settled included 6,358 ounces of which 2,666 ounces were sold at a predetermined price with the remaining 3,692 exposed to future price changes. 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, 2024 and 2023 were as follows:

		June 30, 2024								June 30, 2023
		Three Months				Six Months				Three Months				Six Months
Gold		$	6,285,048			$	12,410,268			$	3,399,049			$	6,883,110
Silver			27,596				54,985				13,824				23,346
Less: Smelter and refining charges			(187,262	)			(440,933	)			(176,358	)			(328,345	)
Total		$	6,125,382			$	12,024,320			$	3,236,515			$	6,578,111

Sales by significant product type for the three and six-month periods ended June 30, 2024, and 2023 were as follows:

		June 30, 2024								June 30, 2023
		Three Months				Six Months				Three Months				Six Months
Concentrate sales to H&H Metal		$	5,852,389			$	11,751,327			$	3,236,515			$	6,440,006
Dore sales to refinery			272,993				272,993				-				138,105
Total		$	6,125,382			$	12,024,320			$	3,236,515			$	6,578,111

At June 30, 2024 our gold sales receivable balance related to contracts with H&H Metals and Cascade Refining of $1,516,514. At December 31, 2023 our gold sales receivable balance of $1,038,867, consisted only of amounts due from H&H Metals. There is no allowance for doubtful accounts.