Business Segments

6 Months Ended

Jun. 30, 2021

Business Segments

13. Business Segments

13.

Business Segments

The Company is currently organized and managed by four segments, which represent our operating units: United States antimony operations, Mexican antimony operations, precious metals recovery and United States zeolite operations. The Puerto Blanco mill and the Madero smelter at the Company’s Mexico operation bring antimony up to an intermediate or finished stage, which may be sold directly or shipped to the United States operation for finishing at the Thompson Falls, Montana plant. The Puerto Blanco mill in Mexico is the site of our crushing and flotation plant, and a cyanide leach plant which will recover precious metals after the ore goes through the crushing and flotation cycles. A precious metals recovery plant is operated in conjunction with the antimony processing plant at Thompson Falls, Montana, where a 99% precious metals mix will be produced. The zeolite operation produces zeolite near Preston, Idaho. Almost all of the sales of products from the United States antimony and zeolite operations are to customers in the United States, although the Company does have a sales operation in Canada. Segment disclosure regarding sales to major customers is located in Note 4.

Properties, plants and equipment, net:	June 30, 2021		December 31, 2020
Antimony
United States	$	1,621,955	$	1,637,738
Mexico		7,355,204		7,635,410
Subtotal Antimony		8,977,159		9,273,148
Precious metals		915,402		933,885
Zeolite		1,005,753		1,018,561
Total	$	10,898,313	$	11,225,594

At June 30, 2021 and December 31, 2020, the Company had $807,471 and $755,978, respectively, of assets that were not yet placed in service and have not yet been depreciated.

	For the Three Months Ended				For the Six Months Ended
Capital expenditures:	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Antimony
United States	$	-	$	9,327	$	-	$	32,448
Mexico		4,872		3,897		9,744		30,662
Subtotal Antimony		4,872		13,224		9,744		63,110
Precious Metals		18,921		82,324		37,347		120,845
Zeolite		68,036		8,347		68,036		16,211
Total	$	91,829	$	103,895	$	115,127	$	200,166

Segment Operations for the three	Antimony		Antimony			Total			Precious		Bear River
months ended June 30, 2021	USAC		Mexico			Antimony			Metals		Zeolite			Totals
Total revenues	$	1,428,939	$	-		$	1,428,939		$	130,195	$	716,428		$	2,275,562
Depreciation and amortization		7,893		144,999			152,892			28,226		38,826			219,944
Income (loss) from operations		99,642		(575,363	)		(475,721	)		101,969		141,562			(232,190	)
Other income (expense):		456,725		113,422			570,147			-		(816	)		569,331
NET INCOME (LOSS)	$	556,367	$	(461,941	)	$	94,426		$	101,969	$	140,746		$	337,141
Segment Operations for the three	Antimony		Antimony			Total			Precious		Bear River
months ended June 30, 2020	USAC		Mexico			Antimony			Metals		Zeolite			Totals
Total revenues	$	910,484	$	-		$	910,484		$	61,992	$	612,715		$	1,585,191
Depreciation and amortization		7,394		146,101			153,495			20,683		49,189			223,367
Income (loss) from operations		126,208		(559,575	)		(433,367	)		41,308		114,184			(277,875	)
Other income (expense):		4,739		-			4,739			-		(1,147	)		3,592
NET INCOME (LOSS)	$	130,947	$	(559,575	)	$	(428,628	)	$	41,308	$	113,037		$	(274,283	)

Segment Operations for the six	Antimony			Antimony			Total			Precious		Bear River
months ended June 30, 2021	USAC			Mexico			Antimony			Metals		Zeolite			Totals
Total revenues	$	2,086,046		$	-		$	2,086,046		$	206,428	$	1,236,375		$	3,528,849
Depreciation and amortization		15,784			289,951			305,735			55,830		80,843			442,408
Income (loss) from operations		(119,027	)		(813,931	)		(932,958	)		150,598		208,444			(573,916	)
Other income (expense):		463,360			113,422			576,782			-		(1,213	)		575,569
NET INCOME (LOSS)	$	344,333		$	(700,509	)	$	(356,176	)	$	150,598	$	207,231		$	1,653
Segment Operations for the six	Antimony			Antimony			Total			Precious		Bear River
months ended June 30, 2020	USAC			Mexico			Antimony			Metals		Zeolite			Totals
Total revenues	$	2,031,909		$	-		$	2,031,909		$	124,198	$	1,172,075		$	3,328,182
Depreciation and amortization		14,789			292,199			306,988			44,281		98,379			449,648
Income (loss) from operations		365,559			(1,278,641	)		(913,082	)		79,917		250,352			(582,813	)
Other income (expense):		1,824			-			1,824			-		(2,176	)		(352	)
NET INCOME (LOSS)	$	367,383		$	(1,278,641	)	$	(911,258	)	$	79,917	$	248,176		$	(583,165	)