INVENTORIES

3 Months Ended

Mar. 31, 2023

INVENTORIES

INVENTORIES

NOTE 5– INVENTORIES

Inventories at March 31, 2023 and December 31, 2022 consisted primarily of finished antimony products, antimony metal, antimony oxide, and antimony ore, and finished zeolite products. Inventories are stated at the lower of first-in, first-out cost or estimated net realizable value. Finished antimony products, metal and oxide, and finished zeolite products costs include raw materials, direct labor, processing facility overhead costs and freight. Inventories at March 31, 2023 and December 31, 2022 were as follows:

	March 31, 2023		December 31, 2022
Antimony Metal	$	221,137	$	142,230
Antimony Oxide		303,167		509,643
Antimony Ore and Concentrates		762,378		545,373
Total antimony		1,286,682		1,197,246
Zeolite		323,534		177,822
TOTAL INVENTORIES	$	1,610,216	$	1,375,068

At March 31, 2023 and December 31, 2022, inventories were valued at cost, except for the portion of inventory related to Mexican operations which was 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 antimony contained in inventory. The adjustment to inventory for net realizable value was $246,792 and $Nil for the three months ended March 31, 2023 and 2022, respectively.

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