XML 22 R10.htm IDEA: XBRL DOCUMENT

Sales of Products

9 Months Ended

Sep. 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 September 30, 2024, metals that had been sold but not finally settled included 5,496 ounces of which 1,539 ounces were sold at a predetermined price with the remaining 3,957 exposed to future price changes until prices are locked in based on the month of settlement. 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 nine-month periods ended September 30, 2024 and 2023 were as follows:

		September 30, 2024								September 30, 2023
		Three Months				Nine Months				Three Months				Nine Months
Gold		$	6,286,219			$	18,694,113			$	3,458,174			$	10,347,001
Silver			28,028				87,621				14,283				37,630
Less: Smelter and refining charges			(160,960	)			(604,127	)			(171,236	)			(505,299	)
Total		$	6,153,287			$	18,177,607			$	3,301,221			$	9,879,332

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

		September 30, 2024								September 30, 2023
		Three Months				Nine Months				Three Months				Nine Months
Concentrate sales to H&H Metal		$	6,153,287			$	17,904,614			$	3,301,221			$	9,741,227
Doré sales to Cascade Refining			-				272,993				-				138,105
Total		$	6,153,287			$	18,177,607			$	3,301,221			$	9,879,332

At September 30, 2024 and December 31, 2023 our gold sales receivable balance of $1,054,051, and $1,038,867, respectively, consisted only of amounts due from H&H Metals. There is no allowance for doubtful accounts.