INVENTORIES

9 Months Ended

Sep. 30, 2022

INVENTORIES

6. INVENTORIES

NOTE 6– INVENTORIES

Inventories at September 30, 2022 and December 31, 2021 consisted primarily of finished antimony products, antimony metal, antimony ore, and finished zeolite products that are stated at the lower of first-in, first-out cost or estimated net realizable value. Finished antimony products, antimony metal and finished zeolite products costs include raw materials, direct labor and processing facility overhead costs and freight. Inventories at September 30, 2022 and December 31, 2021 are as follows:

	September 30, 2022		December 31, 2021
Antimony Metal	$	83,031	$	234,461
Antimony Oxide		323,483		439,086
Antimony Ore Concentrates		246,938		119,046
Total antimony		653,452		792,593
Zeolite		174,506		262,827
TOTAL INVENTORIES	$	827,958	$	1,055,420

As of September 30, 2022 and December 31, 2021, inventories are valued at cost except for the portion related to Mexican operations which are valued at net realizable value because the production costs of the Mexican inventory were greater than the amount the Company expected to receive on the sale of the pounds of antimony contained in inventory. The adjustment to inventory for net realizable value was $409,919 and $Nil for the nine months ended September 30, 2022 and 2021, respectively.

Antimony oxide and metal inventory consisted of finished product held at the Company’s plants in Montana and Mexico. Antimony concentrates and ore were held primarily at sites in Mexico. The Company’s zeolite inventory consists of saleable zeolite material in Idaho.