COMMITMENTS AND CONTINGENCIES	12 Months Ended
Dec. 31, 2025
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 13 – COMMITMENTS AND CONTINGENCIES Historically, from time to time, the Company is assessed fines and penalties by the Mine Safety and Health Administration (“MSHA”). Using appropriate regulatory channels, management may contest these proposed assessments. In 2025, BRZ received three citations from MSHA, one of which was significant and substantial. All three citations were rectified by BRZ and terminated by MSHA on the day the citations were issued. At December 31, 2025 and December 31, 2024, BRZ had $nil and $19,074, respectively, of accrued liabilities relating to MSHA citations. BRZ has a lease through December 31, 2034 with Zeolite, LLC that entitles BRZ to surface mine and process zeolite on property in Preston, Idaho, in exchange for an annual payment and a royalty payment, which is based on the amount of zeolite shipped from the leased property (“BRZ Lease”). In April 2025, the Company contracted with engineering and construction firms to expand its existing smelting operating capacity located in Thompson Falls, Montana. Total capital expenditures associated with the expansion plans are estimated to be approximately $27 million, of which approximately $23 million has been formally agreed to with various third-party vendors. As of December 31, 2025, the Company has paid approximately $17 million toward these commitments which is included in the “Construction in progress” component of PP&E in the Consolidated Balance Sheets. The Company committed in 2025 to the purchase of inventory with an aggregate estimated cost of approximately $3.2 million from suppliers that is not included in the Consolidated Balance Sheet as of December 31, 2025. The Company expects to receive this inventory in 2026.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2025

NOTE 13 – COMMITMENTS AND CONTINGENCIES

Historically, from time to time, the Company is assessed fines and penalties by the Mine Safety and Health Administration (“MSHA”). Using appropriate regulatory channels, management may contest these proposed assessments. In 2025, BRZ received three citations from MSHA, one of which was significant and substantial. All three citations were rectified by BRZ and terminated by MSHA on the day the citations were issued. At December 31, 2025 and December 31, 2024, BRZ had $nil and $19,074, respectively, of accrued liabilities relating to MSHA citations.

BRZ has a lease through December 31, 2034 with Zeolite, LLC that entitles BRZ to surface mine and process zeolite on property in Preston, Idaho, in exchange for an annual payment and a royalty payment, which is based on the amount of zeolite shipped from the leased property (“BRZ Lease”).

In April 2025, the Company contracted with engineering and construction firms to expand its existing smelting operating capacity located in Thompson Falls, Montana. Total capital expenditures associated with the expansion plans are estimated to be approximately $27 million, of which approximately $23 million has been formally agreed to with various third-party vendors. As of December 31, 2025, the Company has paid approximately $17 million toward these commitments which is included in the “Construction in progress” component of PP&E in the Consolidated Balance Sheets.

The Company committed in 2025 to the purchase of inventory with an aggregate estimated cost of approximately $3.2 million from suppliers that is not included in the Consolidated Balance Sheet as of December 31, 2025. The Company expects to receive this inventory in 2026.