NOTE 5 - INVENTORIES

Inventories are valued at cost, not in excess of market. Inventories are determined at first in first out basis and comprised of production cost, mine site management cost and sub-contractor cost. Inventories, at June 30, 2020 and June 30, 2019 are summarized as follows:

		June 30, 2020				June 30, 2019
Inventories		$	—			$	—

The inventories represent the gold minerals as at June 30, 2020 and June 30, 2019, which were comprised of 8% share by the Company and 92% share by the sub-contractor and the other parties such as original mine assigner.