XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 6,280,244 $ 743,991
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,443,232 1,034,521
Loss (gain) on disposal of equipment 1,431 (224)
Accretion of asset retirement obligation 13,954 11,874
Loss on investment in equity securities 453 4,423
Equity income on investment in Buckskin Gold and Silver, Inc (1,579) (2,965)
Write down of reclamation bond 300 0
Change in operating assets and liabilities:    
Gold sales receivable (15,184) (217,607)
Inventories (94,826) (83,180)
Government grant receivable (418,000) 0
Joint venture receivable 1,225 289
Other current assets (168,430) (141,434)
Accounts payable and accrued expenses 882,124 81,167
Accrued payroll and related payroll expenses 179,178 74,547
Net cash provided by operating activities 8,104,122 1,343,068
Cash flows from investing activities:    
Purchases of property, plant, and equipment (1,188,481) (467,655)
Deposits on equipment (923,228) (25,000)
Proceeds from sale of equipment 6,000 8,500
Additions to mineral property (1,544,271) (645,962)
Purchase of reclamation bond (5,000) 0
Refund of reclamation bond 6,900 75,710
Purchase of investments in debt securities (6,139,232) 0
Proceeds from sale of investment in equity securities 5,196 0
Purchase of equity securities 0 (11,100)
Net cash used by investing activities (9,782,116) (1,065,507)
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance cost 7,432,216 878,503
Proceeds from issuance of common stock for warrants exercised 1,253,370 0
Proceeds from issuance of common stock for stock options exercised 280,011 0
Principal payments on notes payable (1,195,146) (766,714)
Principal payments on notes payable, related parties 0 (75,183)
Contributions from non-controlling interest 13,100 19,647
Net cash provided by financing activities 7,783,551 56,253
Net change in cash and cash equivalents 6,105,557 333,814
Cash and cash equivalents, beginning of period 2,286,999 1,638,031
Cash and cash equivalents, end of period 8,392,556 1,971,845
Non-cash investing and financing activities:    
Deposit on equipment applied to purchase 365,564 76,110
Notes payable for equipment 1,148,521 1,110,737
Notes payable for mineral property $ 650,000 $ 0