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BUSINESS SEGEMENTS
 9 Months Ended
Sep. 30, 2022
BUSINESS SEGEMENTS  
15. BUSINESS SEGEMENTS

NOTE 15 – BUSINESS SEGEMENTS

 

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.

 

 

For the three months ended

September 30,

 

 

For the nine months ended

 September 30,

 

Capital expenditures

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Antimony

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$1,655

 

 

$4,060

 

 

$81,931

 

 

$4,060

 

Mexico

 

 

151,559

 

 

 

4,872

 

 

 

163,125

 

 

 

14,616

 

Subtotal antimony

 

 

153,214

 

 

 

8,932

 

 

 

245,056

 

 

 

18,676

 

Precious metals

 

 

-

 

 

 

17,607

 

 

 

17,518

 

 

 

54,954

 

Zeolite

 

 

56,008

 

 

 

474,812

 

 

 

491,247

 

 

 

542,849

 

Total

 

$209,222

 

 

$501,351

 

 

$753,821

 

 

$616,479

 

 

Total Assets:

 

September 30,

2022

 

 

December 31,

2021

 

Antimony

 

 

 

 

 

 

United States

 

$23,737,803

 

 

$24,130,348

 

Mexico

 

 

8,147,147

 

 

 

7,771,515

 

Subtotal antimony

 

 

31,884,950

 

 

 

31,901,863

 

Precious metals

 

 

 

 

 

 

 

 

United States

 

 

177,859

 

 

 

107,464

 

Mexico

 

 

647,110

 

 

 

782,854

 

Subtotal precious metals

 

 

824,969

 

 

 

890,318

 

Zeolite

 

 

2,762,074

 

 

 

2,210,546

 

TOTAL

 

$35,471,993

 

 

$35,002,727

 

Segment operations for the three months ended September 30, 2022

 

Antimony - USA

 

 

Antimony -Mexico

 

 

Total antimony

 

 

Precious Metals

 

 

Zeolite

 

 

Total

 

Total revenues

 

$1,671,301

 

 

$-

 

 

$1,671,301

 

 

$-

 

 

$792,683

 

 

$2,463,984

 

Depreciation and amortization

 

$10,262

 

 

$154,238

 

 

$164,500

 

 

$27,673

 

 

$50,610

 

 

$242,783

 

Income (loss) from operations

 

$802,817

 

 

$(817,746)

 

$(14,929)

 

$(27,673)

 

$103,088

 

 

$60,486

 

Other income (expense)

 

 

(7,058)

 

 

-

 

 

 

(7,058)

 

 

-

 

 

 

(3,026)

 

 

(10,084)

NET INCOME (LOSS)

 

$795,759

 

 

$(817,746)

 

$(21,987)

 

$(27,673)

 

$100,062

 

 

$50,402

 

 

Segment operations for the three months ended September 30, 2021

 

Antimony - USA

 

 

Antimony -Mexico

 

 

Total antimony

 

 

Precious Metals

 

 

Zeolite

 

 

Total

 

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 nine months ended September 30, 2022

 

Antimony - USA

 

 

Antimony -Mexico

 

 

Total antimony

 

 

Precious Metals

 

 

Zeolite

 

 

Total

 

Total revenues

 

$6,144,490

 

 

$827,822

 

 

$6,972,312

 

 

$165,183

 

 

$2,487,116

 

 

$9,624,611

 

Depreciation and amortization

 

$30,832

 

 

$436,431

 

 

$467,263

 

 

$82,867

 

 

$143,860

 

 

$693,990

 

Income (loss) from operations

 

$2,314,965

 

 

$(1,477,387)

 

$837,578

 

 

$82,316

 

 

$279,503

 

 

$1,199,397

 

Other income (expense)

 

 

(3,723)

 

 

-

 

 

 

(3,723)

 

 

-

 

 

 

(5,401)

 

 

(9,124)

NET INCOME (LOSS)

 

$2,311,242

 

 

$(1,477,387)

 

$833,855

 

 

$82,316

 

 

$274,102

 

 

$1,190,273

 

 

Segment operations for the nine months ended September 30, 2021

 

Antimony - USA

 

 

Antimony -Mexico

 

 

Total antimony

 

 

Precious Metals

 

 

Zeolite

 

 

Total

 

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)