Inventories

6 Months Ended

Jun. 30, 2022

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 4 – INVENTORIES

Inventories at June 30, 2022 and December 31, 2021 consists of the following:

	June 30,			December 31,
	2022			2021
Ore on leach pad	$	4,276,789		$	5,488,902
Carbon column in process		199,967			119,461
Finished goods		270,776			146,251
		4,747,532			5,754,614
Less long-term portion		(843,868	)		(1,081,425	)
Total	$	3,903,664		$	4,673,189

Inventories at June 30, 2022 and December 31, 2021 were valued at net realizable value because production costs were greater than the amount the Company expected to receive on the sale of the estimated gold ounces contained in inventories.

The adjustment to inventory was $1,235,568 and $108,993 for the six-month periods ended June 30, 2022, and June 30, 2021, respectively.