Revenue

6 Months Ended

Jun. 30, 2022

Revenue [Abstract]

REVENUE

NOTE 15 – REVENUE

Product sales for the three- and six- months ended June 30, 2022 and 2021 are shown below:

	Three months ended June 30,						Six months ended June 30,
	2022			2021			2022			2021
Concentrate sales
Gold	$	1,627,611		$	1,234,979		$	2,671,540		$	2,983,188
Silver		20,724			19,168			34,852			46,507
Total concentrate sales		1,648,335			1,254,147			2,706,392			3,029,695
Less: deductions to concentrate sales
Royalties		(69,404	)		(52,806	)		(113,953	)		(127,566	)
Upside participation payments		(266,503	)		(191,415	)		(433,115	)		(451,540	)
Outside processing		(70,333	)		(69,775	)		(124,295	)		(139,308	)
Subtotal – deductions to concentrate sales		(406,240	)		(313,996	)		(671,363	)		(718,414	)
Net concentrate sales		1,242,095			940,151			2,035,029			2,311,281
Processing income		497,241			684,609			971,429			1,462,195
Less: outside processing charges		-			(8,969	)		-			(25,700	)
Net processing income		497,241			675,640			971,429			1,436,495
TOTAL REVENUE	$	1,739,336		$	1,615,791		$	3,006,458		$	3,747,776

For the three- and six- months ended June 30, 2022 and 2021, all revenue from Concentrate sales was from concentrate sold to Asahi Refining. At June 30, 2022 and December 31, 2021, the balance due from Asahi Refining is $Nil and $265,444, respectively.

For the three- and six- months ended June 30, 2022 and 2021, all revenue from Contract processing income was received from the outside company whose concentrate sales are to Asahi Refining. As of June 30, 2022 and December 31, 2021, the balance due from contract processing income was $36,799 and $Nil, respectively.