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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES $ 111,688 $ 360,815 $ 295,838 $ 1,099,980
OPERATING EXPENSES:        
Production costs 140,123 434,225 451,418 1,315,350
Exploration costs 16,098 47,866 266,111 175,715
General and administrative 341,847 443,503 1,082,953 1,244,975
Total Operating Expenses 498,068 925,594 1,800,482 2,736,040
Operating Loss (386,380) (564,779) (1,504,644) (1,636,060)
OTHER INCOME (EXPENSES):        
Interest expense, net (including amortization of deferred financing cost and debt discount) (643,933) (474,579) (1,596,548) (1,401,878)
Gain on forgiveness of PPP loan   0 0 223,075
Gain on sale of iron oxide assets 1,938,000   1,938,000 0
Other income (expense), net 716,800 20,308 535,382 114,662
Total Other Income (Expense) 577,267 (454,271) (193,930) (1,064,141)
NET INCOME (LOSS) $ 190,887 $ (1,019,050) $ (1,698,574) $ (2,700,201)
Net Income (Loss) Per Common Share Basic $ 0 $ 0.01 $ 0.01 $ 0.02
Net Income (Loss) Per Common Share Diluted $ 0 $ 0.01 $ 0.01 $ 0.02
Weighted Average Common Shares Outstanding Basic 321,090,805 199,138,961 276,820,927 194,202,348
Weighted Average Common Shares Outstanding Diluted 321,090,805 199,138,961 276,820,927 194,202,348