INVENTORIES

3 Months Ended

Mar. 31, 2024

INVENTORIES

INVENTORIES

NOTE 5– INVENTORIES

Inventories at March 31, 2024 and December 31, 2023 consisted primarily of finished antimony metal and oxide products, antimony ore and concentrates, and finished zeolite products. Inventories are stated at the lower of first-in, first-out cost or estimated net realizable value. Finished antimony products and finished zeolite products costs include direct materials, direct labor, overhead, depreciation, and freight. Inventories at March 31, 2024 and December 31, 2023 were as follows:

	March 31, 2024		December 31, 2023
Antimony oxide inventory	$	136,245	$	252,927
Antimony metal inventory		90,631		237,429
Antimony ore and concentrates inventory		24,482		23,752
Total antimony inventory		251,358		514,108
Zeolite inventory		401,652		505,046
TOTAL INVENTORIES	$	653,010	$	1,019,154

At March 31, 2024 and December 31, 2023, inventories were valued at cost, except for the portion of inventory related to zeolite which was valued at net realizable value because costs were greater than the amount the Company expected to receive on the sale of zeolite inventory. The adjustment to inventory for net realizable value was $80,143 and $Nil for the three months ended March 31, 2024 and 2023, respectively.

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