INVENTORIES

3 Months Ended

Mar. 31, 2025

INVENTORIES

INVENTORIES

NOTE 5 – INVENTORIES

Inventories at March 31, 2025 and December 31, 2024 consisted primarily of finished antimony metal and antimony 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 primarily include direct materials, direct labor, overhead, depreciation, and freight. Inventories at March 31, 2025 and December 31, 2024 were as follows:

	March 31, 2025		December 31, 2024
Antimony oxide	$	172,334	$	254,372
Antimony metal		416,230		154,590
Antimony ore and concentrates		3,035,712		335,588
Total antimony inventory		3,624,276		744,550
Zeolite		366,835		501,174
Total inventories	$	3,991,111	$	1,245,724

At March 31, 2025 and December 31, 2024, inventories were valued at cost, except for the portion of inventory related to zeolite at December 31, 2024, which was valued at net realizable value because costs were greater than the amount the Company expected to receive upon the sale of the inventory. The adjustment to value zeolite inventory at net realizable value was $65,647 at December 31, 2024.

Antimony oxide and metal inventory consisted of finished products held by the Company’s plant located in Montana. Antimony ore and concentrates were held primarily at its plants located in Montana and Mexico. Some antimony metal is used in processing antimony ore into oxide. The Company’s zeolite inventory consisted primarily of saleable zeolite material at the Company’s plant located in Idaho.