Business Segments

9 Months Ended

Sep. 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:	September 30, 2021		December 31, 2020
Antimony
United States	$	1,617,981	$	1,637,738
Mexico		7,215,048		7,635,410
Subtotal Antimony		8,833,029		9,273,148
Precious metals		904,647		933,885
Zeolite		1,438,791		1,018,561
Total	$	11,176,469	$	11,225,594

At September 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 Nine Months Ended
Capital expenditures:	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Antimony
United States	$	4,060	$	-	$	4,060	$	32,448
Mexico		4,872		2,923		14,616		33,585
Subtotal Antimony		8,932		2,923		18,676		66,033
Precious Metals		17,607		17,366		54,954		138,211
Zeolite		474,812		-		542,849		16,211
Total	$	501,351	$	20,289	$	616,479	$	220,455

Segment Operations for the three	Antimony			Antimony			Total			Precious		Bear River
months ended September 30, 2021	USAC			Mexico			Antimony			Metals		Zeolite			Totals
Total revenues	$	1,284,969		$	-		$	1,284,969		$	73,736	$	693,008		$	2,051,713
Depreciation and amortization		8,032			145,027			153,059			28,361		41,776			223,196
Income (loss) from operations		528,750			(673,739	)		(144,989	)		45,375		(12,348	)		(111,962	)
Other income (expense):		13,249			-			13,249			-		(519	)		12,730
NET INCOME (LOSS)	$	541,999		$	(673,739	)	$	(131,740	)	$	45,375	$	(12,867	)	$	(99,232	)
Segment Operations for the three	Antimony			Antimony			Total			Precious		Bear River
months ended September 30, 2020	USAC			Mexico			Antimony			Metals		Zeolite			Totals
Total revenues	$	477,273		$	-		$	477,273		$	48,832	$	481,126		$	1,007,231
Depreciation and amortization		7,395			146,099			153,494			22,141		42,015			217,650
Income (loss) from operations		(208,676	)		(904,337	)		(1,113,013	)		26,691		96,813			(989,509	)
Other income (expense):		(2,883	)		(4	)		(2,887	)		-		(844	)		(3,731	)
NET INCOME (LOSS)	$	(211,559	)	$	(904,341	)	$	(1,115,900	)	$	26,691	$	95,969		$	(993,240	)

Segment Operations for the nine	Antimony			Antimony			Total			Precious		Bear River
months ended September 30, 2021	USAC			Mexico			Antimony			Metals		Zeolite			Totals
Total revenues	$	3,371,015		$	-		$	3,371,015		$	280,164	$	1,929,383		$	5,580,562
Depreciation and amortization		23,816			434,978			458,794			84,191		122,619			665,604
Income (loss) from operations		409,723			(1,487,670	)		(1,077,947	)		195,973		196,096			(685,878	)
Other income (expense):		476,609			113,422			590,031			-		(1,732	)		588,299
NET INCOME (LOSS)	$	886,332		$	(1,374,248	)	$	(487,916	)	$	195,973	$	194,364		$	(97,579	)
Segment Operations for the nine	Antimony			Antimony			Total			Precious		Bear River
months ended September 30, 2020	USAC			Mexico			Antimony			Metals		Zeolite			Totals
Total revenues	$	2,509,183		$	-		$	2,509,183		$	173,029	$	1,653,201		$	4,335,413
Depreciation and amortization		22,184			438,297			460,481			66,422		140,395			667,298
Income (loss) from operations		156,884			(2,182,979	)		(2,026,095	)		106,607		347,166			(1,572,322	)
Other income (expense):		(1,058	)		(4	)		(1,062	)		-		(3,021	)		(4,083	)
NET INCOME (LOSS)	$	155,826		$	(2,182,983	)	$	(2,027,157	)	$	106,607	$	344,145		$	(1,576,405	)