United States Antimony (UAMY) 10-Q 15 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 15, 2024
Cover [Abstract]
Entity Registrant Name	UNITED STATES ANTIMONY CORPORATION
Entity Central Index Key	0000101538
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Entity Common Stock Shares Outstanding		108,438,984
Entity File Number	001-08675
Entity Incorporation State Country Code	MT
Entity Tax Identification Number	81-0305822
Entity Address Address Line 1	P.O. Box 643
Entity Address City Or Town	Thompson Falls
Entity Address State Or Province	MT
Entity Address Postal Zip Code	59873
City Area Code	406
Local Phone Number	827-3523
Security 12b Title	Common Stock, $0.01 par value
Trading Symbol	UAMY
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($)	Mar. 31, 2024	Dec. 31, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 11,941,298	$ 11,899,574
Certificates of deposit	22,216	72,898
Accounts receivable, net	1,057,742	625,256
Inventories, net	653,010	1,019,154
Prepaid expenses and other current assets	117,167	92,369
Current assets held for sale (Note 11)	215,110	366,955
Total current assets	14,006,543	14,076,206
Properties, plants and equipment, net	7,709,812	7,765,045
Restricted cash for reclamation bonds	55,060	55,061
Non-current assets held for sale (Note 11)	6,215,574	6,180,585
Other assets	18,098	18,098
Total assets	28,005,087	28,094,995
CURRENT LIABILITIES
Accounts payable	403,441	330,147
Accrued liabilities	117,822	109,341
Accrued liabilities - directors	167,059	124,810
Royalties payable	52,527	153,429
Long-term debt, current portion	7,170	28,443
Current liabilities held for sale (Note 11)	158,103	151,288
Total current liabilities	906,122	897,458
Stock payable to directors	38,542	38,542
Asset retirement obligations	1,119,832	1,101,561
Non-current liabilities held for sale (Note 11)	536,466	536,466
Total liabilities	2,600,962	2,574,027
Preferred stock $0.01 par value, 10,000,000 shares authorized:
Common stock, $0.01 par value, 150,000,000 shares authorized; 108,438,984 and 107,647,317 shares issued and outstanding, respectively	1,084,389	1,076,472
Additional paid-in capital	64,051,844	63,853,836
Accumulated deficit	(39,741,387)	(39,418,619)
Total stockholders' equity	25,404,125	25,520,968
Total liabilities and stockholders' equity	28,005,087	28,094,995
Series A Preferred Stock [Member]
Preferred stock $0.01 par value, 10,000,000 shares authorized:
Preferred Stock Value	0	0
Series D Preferred Stock [Member]
Preferred stock $0.01 par value, 10,000,000 shares authorized:
Preferred Stock Value	0	0
Series C Preferred Stock [Member]
Preferred stock $0.01 par value, 10,000,000 shares authorized:
Preferred Stock Value	1,779	1,779
Series B Preferred Stock [Member]
Preferred stock $0.01 par value, 10,000,000 shares authorized:
Preferred Stock Value	$ 7,500	$ 7,500

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	150,000,000	150,000,000
Common stock, issued shares	108,438,984	107,647,317
Common stock, outstanding shares	108,438,984	107,647,317
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized shares	10,000,000	10,000,000
Series A Preferred Stock [Member]
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Series D Preferred Stock [Member]
Preferred stock, issued shares	1,692,672	0
Preferred stock, outstanding shares	1,692,672	0
Preferred stock liquidation preference	$ 5,019,410	$ 0
Series C Preferred Stock [Member]
Preferred stock, issued shares	177,904	177,904
Preferred stock, outstanding shares	177,904	177,904
Preferred stock liquidation preference	$ 97,847	$ 97,847
Series B Preferred Stock [Member]
Preferred stock, issued shares	750,000	750,000
Preferred stock, outstanding shares	750,000	750,000
Preferred stock liquidation preference	$ 969,375	$ 967,500

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
REVENUES	$ 2,831,390	$ 2,210,844
COST OF REVENUES	2,008,486	1,816,001
GROSS PROFIT	822,904	394,843
OPERATING EXPENSES:
General and administrative	455,394	141,271
Salaries and benefits	241,605	127,692
Professional fees	177,157	46,004
Loss on disposal of property, plant and equipment	17,494	0
TOTAL OPERATING EXPENSES	891,650	314,967
INCOME (LOSS) FROM OPERATIONS	(68,746)	79,876
OTHER INCOME (EXPENSE):
Interest and investment income	150,851	122,372
Trademark and licensing income	6,368	7,525
Other miscellaneous income (expense)	(2,372)	83,608
TOTAL OTHER INCOME	154,847	213,505
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	86,101	293,381
Income tax expense	0	0
INCOME FROM CONTINUING OPERATIONS	86,101	293,381
Discontinued operations:
Loss from discontinued operations before income taxes	(408,869)	(1,100,365)
Income tax expense	0	0
Loss from discontinued operations (Note 11)	(408,869)	(1,100,365)
Net loss	(322,768)	(806,984)
Preferred dividends	(1,875)	(1,875)
Net loss available to common stockholders	$ (324,643)	$ (808,859)
Basic and diluted earnings per common share:
Loss from discontinued operations	$ 0	$ 0
Income from continuing operation	0	(0.01)
Net loss	0	(0.01)
Weighted average shares outstanding:
Basic	107,908,306	107,260,472
Diluted	$ 107,908,306	$ 107,260,472

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY - USD ($)	Total	Preferred Stock	Common Stock	Shares to be returned to treasury	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Dec. 31, 2022		2,620,576	106,373,341
Balance, amount at Dec. 31, 2022	$ 31,869,255	$ 26,205	$ 1,063,732	$ (202,980)	$ 64,052,630	$ (33,070,332)
Conversion of Preferred Series D to common stock, shares		1,692,672	1,692,672
Conversion of Preferred Series D to common stock, amount	0	$ (16,926)	$ 16,927	0	(1)	0
Common stock buyback and retirement, shares			418,696
Common stock buyback and retirement, amount	0	0	$ (4,187)	202,980	(198,793)	0
Net loss	(806,984)	$ 0	$ 0	0	0	(806,984)
Share-based compensation, shares			791,667
Balance, shares at Mar. 31, 2023		927,904	107,647,317
Balance, amount at Mar. 31, 2023	31,062,271	$ 9,279	$ 1,076,472	0	63,853,836	(33,877,316)
Balance, shares at Dec. 31, 2023		927,904	107,647,317
Balance, amount at Dec. 31, 2023	25,520,968	$ 9,279	$ 1,076,472	0	63,853,836	(39,418,619)
Net loss	(322,768)	0	0	0	0	(322,768)
Share-based compensation, amount	205,925	0	7,917	0	198,008	0
Balance, amount at Mar. 31, 2024	$ 25,404,125	$ 9,279	$ 1,084,389	$ 0	$ 64,051,844	$ (39,741,387)
Balance,shares at Mar. 31, 2024		927,904	108,438,984

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
Net income from continuing operations	$ 86,101	$ 293,381
Depreciation and amortization	106,147	69,332
Accretion of asset retirement obligation	18,271	375
Loss on disposal of property, plant, and equipment	17,494	0
Write down of inventory to net realizable value	80,143	0
Share-based compensation	205,925	0
Other non-cash items	(15,695)	2,041
Accounts receivable, net	(432,486)	(919,819)
Inventories, net	286,001	(76,504)
Prepaid expenses and other current assets	(24,798)	(141,852)
Accounts payable	73,294	158,942
Accrued liabilities	8,481	(55,425)
Accrued liabilities - directors	42,249	19,746
Royalties payable	(100,902)	(419,191)
Net cash provided (used) by operating activities of continuing operations	350,225	(1,068,974)
Proceeds from redemption of certificates of deposit	50,682	0
Purchases of properties, plant, and equipment	(52,713)	(501,202)
Net cash used by investing activities of continuing operations	(2,031)	(501,202)
CASH FLOWS FROM FINANCING ACTIVITIES OF CONTINUING OPERATIONS:
Payments on dividends payable	0	(787,730)
Principal payments on long-term debt	(21,273)	(23,022)
Net cash used by financing activities of continuing operations	(21,273)	(810,752)
Net cash flows provided (used) by continuing operations	326,921	(2,380,928)
Net cash used by operating activities	(285,198)	(1,204,818)
Net cash used by investing activities	0	(113,568)
Net cash flows used by discontinued operations	(285,198)	(1,318,386)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	41,723	(3,699,314)
|CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	11,954,635	19,117,666
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	11,996,358	$ 15,418,352
NON-CASH FINANCING AND INVESTING ACTIVITIES:
Common stock buyback and retirement		202,980
Conversion of Preferred Series D to Common Stock	$ 0	$ 16,926

NATURE OF OPERATIONS

NATURE OF OPERATIONS	3 Months Ended
	Mar. 31, 2024
NATURE OF OPERATIONS
NATURE OF OPERATIONS	NOTE 1 - NATURE OF OPERATIONS United States Antimony Corporation and its subsidiaries in the U.S. and Mexico (“USAC”, the “Company”, “Our”, “Us”, or “We”) sell processed antimony, zeolite, and precious metals products in the U.S. and Canada. The Company processes antimony ore primarily into antimony oxide, antimony metal, and antimony trisulfide. Our antimony oxide is used to form a flame-retardant system for plastics, rubber, fiberglass, textile goods, paints, coatings and paper, as a color fastener in paint, and as a phosphorescent agent in fluorescent light bulbs. Our antimony metal is used in bearings, storage batteries, and ordnance. Our antimony trisulfide is used as a primer in ammunition. In its operations in Idaho, the Company mines and processes zeolite, a group of industrial minerals used in soil amendment and fertilizer, water filtration, sewage treatment, nuclear waste and other environmental cleanup, odor control, gas separation, animal nutrition, and other miscellaneous applications. We recover certain amounts of precious metals, primarily gold and silver, at our plant in Montana from antimony concentrates. Developments in the Current Period - Discontinued Operations The Company has two subsidiaries in Mexico, US Antimony de Mexico, S.A. de C.V. (“USAMSA”) and Antimonio de Mexico, S.A. de C.V. (“ADM”). On March 11, 2024, the Company shut down the operations of USAMSA and announced its plans to sell its USAMSA subsidiary, operations, or assets. The USAMSA subsidiary primarily includes the Company’s Madero antimony and precious metals plant in Parras de la Fuente Coahuila, Mexico and its Puerto Blanco antimony and precious metals plant in San Luis de la Paz Guanajuato, Mexico. The Company intends to sell its USAMSA subsidiary, operations, or assets over the next year and has initiated an active search for buyers of its operations and/or existing assets. While the Company will maintain its existing Los Juarez mining claims and concessions in Mexico, which are included in our ADM subsidiary, there are presently no active operations at Los Juarez. See Note 11

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of March 31, 2024, and its results of operations and cash flows for the three months ended March 31, 2024 and 2023. The Condensed Consolidated Balance Sheet as of December 31, 2023, was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. These unaudited interim financial statements have been prepared by management in accordance with generally accepted accounting principles used in the United States of America (“U.S. GAAP”). These unaudited interim financial statements should be read in conjunction with the annual audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission on April 12, 2024. This summary of significant accounting policies of the Company is presented to assist in understanding the Company’s financial statements. These accounting policies conform to U.S. GAAP and have been consistently applied in the preparation of the financial statements. Reclassifications Certain reclassifications have been made to conform prior period amounts to the current presentation. These reclassifications have no effect on the results of operations, stockholders’ equity and cash flows as previously reported. Discontinued Operations Disposal groups that meet the discontinued operations criteria by the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 205-20-45 are classified as discontinued operations and are excluded from continuing operations and segment results for all periods presented. Share-Based Compensation The Company’s share-based awards consist of restricted stock units (“RSUs”) and stock options granted to employees and non-employee directors. RSUs are stock awards entitling the award recipient to a specified number of shares of the Company’s common stock as the award vests. Each of our RSU grants include a time-based vesting condition, which is the only vesting condition related to the RSU grants. The Company calculates the fair value of RSUs on the grant date using the closing market price of the Company’s common stock on the grant date. The Company expenses the grant date fair value of RSUs ratably over the requisite service period, other than RSUs that vest on the grant date, the grant date fair value of which is expensed on the grant date. The Company recognizes forfeitures as they occur. Stock options grant award recipients the option to purchase a specified number of shares of the Company’s common stock at an exercise price per share specified in the grant agreement as the stock options vest. Stock option grants include either a time-based vesting condition or performance-based vesting conditions with a specified term to meet the performance condition. The Company calculates the fair value of stock options on the grant date using the Black-Scholes option-pricing model, which requires the Company to make estimates and assumptions, such as expected volatility, expected term, and risk-free interest rate. For time-based vesting stock option grants, the Company expenses the grant date fair value of the award ratably over the requisite service period. For performance-based vesting stock option grants, the Company expenses the grant date fair value of the award based on the probability and timing of achieving the performance criteria. The Company recognizes forfeitures as they occur. The expense related to employee and non-employee director share-based awards is recorded in “Salaries and benefits” and “General and administrative,” respectively, in the Condensed Consolidated Statements of Operations. Recent Accounting Pronouncements Management does not believe that any recently issued but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, amending reportable segment disclosure requirements to include disclosure of incremental segment information on an annual and interim basis. Among the disclosure enhancements are new disclosures regarding significant segment expenses that are regularly provided to the chief operating decision-maker and included within each reported measure of segment profit or loss, as well as other segment items bridging segment revenue to each reported measure of segment profit or loss. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, and are applied retrospectively. Early adoption is permitted. We are currently evaluating the impact of this update on our consolidated financial statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures, amending income tax disclosure requirements for the effective tax rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024 and are applied prospectively. Early adoption and retrospective application of the amendments are permitted. We are currently evaluating the impact of this update on our consolidated financial statements and disclosures.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2024
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 3 – EARNINGS PER SHARE Basic Earnings Per Share (“EPS”) is computed as net income (loss) available to common stockholders divided by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through convertible preferred stock, stock options, RSUs, and warrants. At March 31, 2024 and 2023, the potentially dilutive common stock equivalents not included in the calculation of diluted earnings per share as their effect would have been anti-dilutive were as follows: March 31, 2024 March 31, 2023 Warrants 12,346,215 12,346,215 RSUs 225,695 - Total possible dilution 12,571,910 12,346,215

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Mar. 31, 2024
REVENUE RECOGNITION
REVENUE RECOGNITION	NOTE 4 – REVENUE RECOGNITION Products consist of the following: · Antimony: includes antimony oxide, antimony metal, antimony trisulfide. · Zeolite: includes coarse and fine zeolite crushed in various sizes. · Precious metals: includes unrefined and refined gold and silver. Sales of products for the three months ended March 31, 2024 and 2023 were as follows: For the three months ended March 31, 2024 March 31, 2023 Antimony product revenue $ 2,228,385 $ 1,612,639 Zeolite product revenue 603,005 482,093 Precious metals product revenue - 116,112 TOTAL REVENUES $ 2,831,390 $ 2,210,844 Domestic and foreign revenues for the three months ended March 31, 2024 and 2023 were as follows: For the three months ended March 31, 2024 March 31, 2023 Domestic revenues $ 2,280,774 $ 1,991,230 Foreign revenues 550,616 219,614 TOTAL REVENUES $ 2,831,390 $ 2,210,844 The Company’s trade accounts receivable balance related to contracts with customers was $1,057,742 at March 31, 2024 and $625,256 at December 31, 2023, net of an allowance for doubtful accounts related to trade accounts receivables of $271,212 at March 31, 2024 and December 31, 2023. The Company’s products do not involve any warranty agreements and product returns are not typical.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2024
INVENTORIES
INVENTORIES	NOTE 5– INVENTORIES Inventories at March 31, 2024 and December 31, 2023 consisted primarily of finished antimony metal and 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 include direct materials, direct labor, overhead, depreciation, and freight. Inventories at March 31, 2024 and December 31, 2023 were as follows: March 31, 2024 December 31, 2023 Antimony oxide inventory $ 136,245 $ 252,927 Antimony metal inventory 90,631 237,429 Antimony ore and concentrates inventory 24,482 23,752 Total antimony inventory 251,358 514,108 Zeolite inventory 401,652 505,046 TOTAL INVENTORIES $ 653,010 $ 1,019,154 At March 31, 2024 and December 31, 2023, inventories were valued at cost, except for the portion of inventory related to zeolite which was valued at net realizable value because costs were greater than the amount the Company expected to receive on the sale of zeolite inventory. The adjustment to inventory for net realizable value was $80,143 and $Nil for the three months ended March 31, 2024 and 2023, respectively. Antimony oxide and metal inventory consisted of finished product held by the Company’s plants in Montana and Mexico. Antimony ore and concentrates were held primarily at its sites in Montana and Mexico. The Company’s zeolite inventory consisted primarily of saleable zeolite material at the Company’s plant located in Idaho.

PROPERTIES PLANTS AND EQUIPMENT

PROPERTIES PLANTS AND EQUIPMENT	3 Months Ended
	Mar. 31, 2024
PROPERTIES PLANTS AND EQUIPMENT
PROPERTIES, PLANTS AND EQUIPMENT	NOTE 6 – PROPERTIES, PLANTS AND EQUIPMENT The major components of the Company’s properties, plants and equipment (“PP&E”) by segment at March 31, 2024 and December 31, 2023 were as follows: March 31, 2024 Antimony Segment Zeolite Segment Precious Metals USAC Mexico BRZ Segment TOTAL Plant and equipment $ 1,675,444 $ 79,001 $ 5,368,804 $ 234,174 $ 7,357,423 Buildings 243,248 11,970 2,025,043 - 2,280,261 Land and other 2,727,198 1,329,987 687,639 - 4,744,824 Construction in progress - - 18,590 - 18,590 PP&E, gross $ 4,645,890 $ 1,420,958 $ 8,100,076 $ 234,174 $ 14,401,098 Accumulated depreciation (2,675,660 ) (239,047 ) (3,597,180 ) (179,399 ) (6,691,286 ) PP&E, net $ 1,970,230 $ 1,181,911 $ 4,502,896 $ 54,775 $ 7,709,812 December 31, 2023 Antimony Segment Zeolite Segment Precious Metals USAC Mexico BRZ Segment TOTAL Plant and equipment $ 1,675,444 $ 79,001 $ 5,336,808 $ 234,174 $ 7,325,427 Buildings 243,248 11,970 2,025,043 - 2,280,261 Land and other 2,727,198 1,329,987 687,639 - 4,744,824 Construction in progress - - 8,951 - 8,951 PP&E, gross $ 4,645,890 $ 1,420,958 $ 8,058,441 $ 234,174 $ 14,359,463 Accumulated depreciation (2,661,719 ) (235,024 ) (3,524,130 ) (173,545 ) (6,594,418 ) PP&E, net $ 1,984,171 $ 1,185,934 $ 4,534,311 $ 60,629 $ 7,765,045

DEBT

DEBT	3 Months Ended
	Mar. 31, 2024
DEBT
DEBT	NOTE 7 – LONG-TERM DEBT Long-term debt at March 31, 2024 and December 31, 2023 was as follows: March 31, 2024 December 31, 2023 Installment contract payable to Caterpillar Financial Services, bearing interest at 6.65%, payable in 24 monthly installments of $7,210 maturing April 28, 2024; collateralized by 2007 Caterpillar 740 articulated truck $ 7,170 $ 28,443 Total debt 7,170 28,443 Less current portion of debt (7,170 ) (28,443 ) Long term portion of debt $ - $ - The principal payments owed Caterpillar Financial Services of $7,170 at March 31, 2024 will be due in April 2024.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2024
COMMITMENTS AND CONTINGENCIES (Note 8)
COMMITMENTS AND CONTINGENCIES	NOTE 8 – COMMITMENTS AND CONTINGENCIES The Company follows U.S. GAAP guidance in determining its accruals and disclosures with respect to loss contingencies and evaluates such accruals and contingencies for each reporting period. Accordingly, estimated losses from loss contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable that a loss could be incurred, and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss could be incurred. Historically, from time to time, the Company is assessed fines and penalties by the Mine Safety and Health Administration (“MSHA”). Using appropriate regulatory channels, management may contest these proposed assessments. At March 31, 2024 and December 31, 2023, the Company had no accrued liabilities relating to such assessments. However, during the first quarter of 2024, Bear River Zeolite Company (“BRZ”), a wholly owned subsidiary of the Company, received four significant and substantial citations from MSHA, all of which have been rectified by BRZ prior to the filing of this quarterly report. On a combined basis, BRZ pays royalties ranging from 8% to 13% on the sale of zeolite products. At March 31, 2024 and December 31, 2023, the Company had accrued royalties payable of $52,527 and $153,429, respectively.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	3 Months Ended
	Mar. 31, 2024
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	NOTE 9 – STOCKHOLDERS’ EQUITY On January 25, 2023, the holders of 1,692,672 shares of Series D Preferred stock converted the preferred shares and the Company issued 1,692,672 shares of common stock. The Company also paid the holders $787,730 for dividends payable as declared on November 28, 2022. 1,590,672 shares of the 1,692,672 shares of Series D Preferred stock that were converted and $740,261 of the $787,730 of dividends paid related to the estate of John Lawrence, who was a prior President and Chairman of the Company. On January 26, 2023, in conjunction with its share repurchase plan, the Company returned to treasury and cancelled 418,696 of its common shares which were repurchased prior to December 31, 2022 for $202,980. Stock option and RSU awards were granted on January 29, 2024 and March 1, 2024 in accordance with our 2023 Equity Incentive Plan, which was approved by the Company’s shareholders. No other equity grants were outstanding at March 31, 2024. The Company’s Board of Directors granted to an employee on January 29, 2024 100,000 RSUs, one-third of which vest each year beginning each anniversary subsequent to the grant date, and 200,000 stock options with performance-based vesting conditions and a 10-year term. The fair value of the RSUs granted on January 29, 2024 was $24,000 and the fair value of the stock options granted on January 29, 2024 was $48,000. The Company’s Board of Directors also granted 2,375,000 RSUs and 3,400,000 stock options to employees and non-employee directors on March 1, 2024 with the RSUs vesting one-third each year beginning on the grant date, 2,500,000 stock options vesting one-third each year beginning each anniversary subsequent to the grant date, and 900,000 stock options with performance-based vesting conditions and a 3-year term. The fair value of the RSUs granted on March 1, 2024 was $522,500 and the fair value of the stock options granted on March 1, 2024 was $544,000. One-third of the RSUs granted on March 1, 2024, which equates to 791,667 shares of the Company’s common stock, vested during the three months ended March 31, 2024. At March 31, 2024, 1,583,333 RSU’s are unvested from the March 1, 2024 grant and 100,000 RSUs are unvested from the January 29, 2024 grant. The Company expensed $205,925 and $nil during the three months ended March 31, 2024 and 2023, respectively, related to stock option and RSU grants. The remaining unrecognized compensation expense for RSUs granted on January 29, 2024 was $22,667 at March 31, 2024, which is expected to be recognized over the next 2.83 years. The remaining unrecognized compensation expense for RSUs granted on March 1, 2024 was $333,819 at March 31, 2024, which is expected to be recognized over the next 2.92 years. The remaining unrecognized compensation expense for stock options granted on January 29, 2024 was $47,200 at March 31, 2024, which is expected to be recognized over the next 8.33 years. These stock options had no intrinsic value at March 31, 2024. The remaining unrecognized compensation expense for stock options granted on March 1, 2024 was $528,889 at March 31, 2024, which is expected to be recognized over the next 2.92 years. The intrinsic value of these stock options at March 31, 2024 was $102,000. The fair value of stock options granted on January 29, 2024 and March 1, 2024 and the key assumptions used in the Black-Scholes valuation model to calculate the fair value are as follows: Stock Options Stock Options Granted On Granted On January 29, 2024 March 1, 2024 Fair value per share of options granted $ 0.24 $ 0.16 Options granted 200,000 3,400,000 Exercise price per share $ 0.25 $ 0.22 Expected Term (in years) 10 3 Risk-free rate 4.08 % 4.32 % Volatility 302.65 % 116.28 % Common stock warrants No warrants were issued, expired, or exercised during the three months ended March 31, 2024 and 2023. The composition of the Company’s warrants outstanding at March 31, 2024 and 2023 was as follows: Number of warrants Exercise Price Expiration Date Remaining life (years) 2,285,715 $ 0.46 7/31/2025 1.33 804,000 $ 0.46 1/27/2026 1.83 7,650,000 $ 0.85 8/3/2026 2..34 1,606,500 $ 0.85 2/1/2026 1.84 12,346,215

BUSINESS SEGEMENTS

BUSINESS SEGEMENTS	3 Months Ended
	Mar. 31, 2024
BUSINESS SEGEMENTS
BUSINESS SEGEMENTS	NOTE 10 – BUSINESS SEGEMENTS The Company is organized and managed with four business segments, which represent our operating units: United States antimony operations, Mexico antimony operations, precious metals recovery and United States zeolite operations. See Note 11 Total assets by segment at March 31, 2024 and December 31, 2023 were as follows: Total Assets, Excluding Discontinued Operations March 31, 2024 December 31, 2023 Antimony segment: United States total assets $ 14,962,876 $ 14,769,408 Mexico total assets 1,248,036 1,211,319 Subtotal antimony segment $ 16,210,912 $ 15,980,727 Precious metals segment: United States total assets $ 86,864 $ 92,718 Mexico total assets - - Subtotal precious metals segment $ 86,864 $ 92,718 Zeolite segment 5,276,627 5,474,010 Total assets, excluding discontinued operations $ 21,574,403 $ 21,547,455 Total capital expenditures by segment for the three months ended March 31, 2024 and 2023 were as follows: Capital expenditures, Excluding Discontinued Operations For the three months ended March 31, 2024 March 31, 2023 Antimony segment: United States capital expenditures $ - $ 3,550 Mexico capital expenditures - - Subtotal antimony segment $ - $ 3,550 Precious metals segment - - Zeolite segment 52,713 497,652 Total capital expenditures, excluding discontinued operations $ 52,713 $ 501,202 Selected segment operational information for the three months ended March 31, 2024 and 2023 were as follows: Segment Operations, Excluding Discontinued Operations Antimony Antimony Total Precious For the three months ended March 31, 2024 USA Mexico Antimony Metals Zeolite Total Total revenues $ 2,228,385 $ - $ 2,228,385 $ - $ 603,005 $ 2,831,390 Depreciation and amortization 13,941 4,024 17,965 5,854 82,328 106,147 Income (loss) from operations $ 394,806 ($26,197) $ 368,609 ($5,854) ($431,501) (68,746) Other income 154,847 Income tax expense - NET INCOME $ 86,101 Segment Operations, Excluding Discontinued Operations Antimony Antimony Total Precious For the three months ended March 31, 2023 USA Mexico Antimony Metals Zeolite Total Total revenues $ 1,612,639 $ - $ 1,612,639 $ 116,112 $ 482,093 $ 2,210,844 Depreciation and amortization 8,280 4,024 12,304 5,854 51,174 69,332 Income (loss) from operations $ 62,072 ($27,849) $ 34,223 $ 110,258 ($64,605) $ 79,876 Other income 213,505 Income tax expense - NET INCOME $ 293,381

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	3 Months Ended
	Mar. 31, 2024
BUSINESS SEGEMENTS
DISCONTINUED OPERATIONS	NOTE 11 – DISCONTINUED OPERATIONS As described in Note 1 Our Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, and Condensed Consolidated Statements of Cash Flows report discontinued operations separate from continuing operations. Our Condensed Consolidated Statements of Equity combine the results of continuing and discontinued operations. The key components of the loss from discontinued operations for the three months ended March 31, 2024 and 2023 were as follows: For the three months ended March 31, 2024 March 31, 2023 REVENUES $ 240,677 $ - COST OF REVENUES 474,096 930,262 GROSS PROFIT LOSS (233,419 ) (930,262 ) OPERATING EXPENSES: General and administrative 44,892 14,323 Professional fees 35,151 38,802 Other operating expenses 88,246 108,345 TOTAL OPERATING EXPENSES 168,289 161,470 LOSS FROM OPERATIONS (401,708 ) (1,091,732 ) OTHER EXPENSE: Other miscellaneous expense (7,161 ) (8,633 ) TOTAL OTHER EXPENSE (7,161 ) (8,633 ) LOSS FROM DISCONTINUED OPERATIONS BEFORE TAX (408,869 ) (1,100,365 ) Income tax expense - - LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX $ (408,869 ) $ (1,100,365 ) Depreciation and amortization expense of USAMSA totaled $nil and $154,909 for the three months ended March 31, 2024 and 2023, respectively. Accretion of asset retirement obligation of USAMSA totaled $nil and $2,993 for the three months ended March 31, 2024 and 2023, respectively. Write down of inventory to net realizable value of USAMSA totaled $43,074 and $246,792 for the three months ended March 31, 2024 and 2023, respectively. Capital expenditures of USAMSA totaled $nil and $113,568 for the three months ended March 31, 2024 and 2023, respectively. The carrying amounts of major classes of assets and liabilities of USAMSA included in assets and liabilities of discontinued operations were as follows: March 31, 2024 December 31, 2023 ASSETS CURRENT ASSETS Inventories, net $ 215,110 $ 366,955 Total current assets, discontinued operations 215,110 366,955 Properties, plants and equipment, net 5,689,446 5,689,446 IVA receivable and other assets, net 526,128 491,139 Total assets, discontinued operations $ 6,430,684 $ 6,547,540 LIABILITIES CURRENT LIABILITIES Accounts payable $ 137,744 $ 126,788 Accrued liabilities 20,359 24,500 Total current liabilities, discontinued operations 158,103 151,288 Asset retirement obligations 536,466 536,466 Total liabilities, discontinued operations $ 694,569 $ 687,754 Mexican Tax Assessment In 2015, the Mexican tax authority (“SAT”) initiated an audit of the USAMSA’s 2013 income tax return. In October 2016, as a result of its audit, SAT assessed the Company $13.8 million pesos, which was approximately $666,400 in U.S. Dollars (“USD”) as of December 31, 2016. SAT’s assessment was based on the disallowance of specific costs that the Company deducted on the 2013 USAMSA income tax return. The assessment was settled in 2018 with no assessment due from the Company. In early 2019, the Company was notified that SAT re-opened its assessment of USAMSA’s 2013 income tax return and, in November 2019, SAT assessed the Company $16.3 million pesos, which was approximately $795,000 USD as of December 31, 2021. Management reviewed the 2019 assessment notice from SAT and, similar to the earlier assessment, believes the findings have no merit. An appeal was filed by the Company in November 2019 suspending SAT from taking immediate action regarding the assessment. The Company posted a guarantee of the amount in March 2020 as is required under the appeal process. In August 2020, the Company filed a lawsuit against SAT for resolution of the process and, in December 2020, filed closing arguments. In 2022, the Mexican court ruled against the Company in the above matter. The Company subsequently appealed the ruling. As of December 31, 2023, the updated SAT assessment was approximately $22.4 million pesos, or approximately $1,320,000 USD, which includes $352,000 of unpaid income taxes and $968,000 of interest and penalties. Management, along with its legal counsel, assessed the possible outcomes for this tax audit and believes, based on discussions with its attorneys located in Mexico, that the most likely outcome will be that the Company will be successful in its appeal resulting in no tax due. Management determined that no amount should be accrued at December 31, 2023 or December 31, 2022 relating to this potential tax liability. In March 2024, the Company received a favorable ruling from its appeal with no assessment due related to this audit of USAMSA’s 2013 income tax return by SAT. This ruling supports the Company’s position on this tax matter and had no impact on the Company’s financial statements at March 31, 2024 or December 31, 2023. Mexico’s lower court will issue a final ruling on this matter as to whether this decision can be appealed by the appropriate Mexican authorities. Mexico Value Added Tax USAMSA records a receivable for the Value Added Tax (“VAT” or “IVA”) it pays on certain goods and services representing amounts to be reimbursed from the Mexican government. USAMSA has a reserve of $717,647 and $687,534 on its IVA receivable balance at March 31, 2024 and December 31, 2023, respectively. The net IVA receivable of $470,083 and $435,094 at March 31, 2024 and December 31, 2023, respectively, is recorded in “IVA receivable and other assets, net” in assets held for sale in discontinued operations.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2024
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Reclassifications	Certain reclassifications have been made to conform prior period amounts to the current presentation. These reclassifications have no effect on the results of operations, stockholders’ equity and cash flows as previously reported.
Discontinued Operations	Disposal groups that meet the discontinued operations criteria by the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 205-20-45 are classified as discontinued operations and are excluded from continuing operations and segment results for all periods presented.
Share-Based Compensation	The Company’s share-based awards consist of restricted stock units (“RSUs”) and stock options granted to employees and non-employee directors. RSUs are stock awards entitling the award recipient to a specified number of shares of the Company’s common stock as the award vests. Each of our RSU grants include a time-based vesting condition, which is the only vesting condition related to the RSU grants. The Company calculates the fair value of RSUs on the grant date using the closing market price of the Company’s common stock on the grant date. The Company expenses the grant date fair value of RSUs ratably over the requisite service period, other than RSUs that vest on the grant date, the grant date fair value of which is expensed on the grant date. The Company recognizes forfeitures as they occur. Stock options grant award recipients the option to purchase a specified number of shares of the Company’s common stock at an exercise price per share specified in the grant agreement as the stock options vest. Stock option grants include either a time-based vesting condition or performance-based vesting conditions with a specified term to meet the performance condition. The Company calculates the fair value of stock options on the grant date using the Black-Scholes option-pricing model, which requires the Company to make estimates and assumptions, such as expected volatility, expected term, and risk-free interest rate. For time-based vesting stock option grants, the Company expenses the grant date fair value of the award ratably over the requisite service period. For performance-based vesting stock option grants, the Company expenses the grant date fair value of the award based on the probability and timing of achieving the performance criteria. The Company recognizes forfeitures as they occur. The expense related to employee and non-employee director share-based awards is recorded in “Salaries and benefits” and “General and administrative,” respectively, in the Condensed Consolidated Statements of Operations.
New Accounting Pronouncements	Management does not believe that any recently issued but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, amending reportable segment disclosure requirements to include disclosure of incremental segment information on an annual and interim basis. Among the disclosure enhancements are new disclosures regarding significant segment expenses that are regularly provided to the chief operating decision-maker and included within each reported measure of segment profit or loss, as well as other segment items bridging segment revenue to each reported measure of segment profit or loss. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, and are applied retrospectively. Early adoption is permitted. We are currently evaluating the impact of this update on our consolidated financial statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures, amending income tax disclosure requirements for the effective tax rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024 and are applied prospectively. Early adoption and retrospective application of the amendments are permitted. We are currently evaluating the impact of this update on our consolidated financial statements and disclosures.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2024
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Antidilutive securities excluded from computation of earnings per share	March 31, 2024 March 31, 2023 Warrants 12,346,215 12,346,215 RSUs 225,695 - Total possible dilution 12,571,910 12,346,215

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Mar. 31, 2024
REVENUE RECOGNITION
Disaggregation of Revenue	For the three months ended March 31, 2024 March 31, 2023 Antimony product revenue $ 2,228,385 $ 1,612,639 Zeolite product revenue 603,005 482,093 Precious metals product revenue - 116,112 TOTAL REVENUES $ 2,831,390 $ 2,210,844
Revenue by Geographic Area	For the three months ended March 31, 2024 March 31, 2023 Domestic revenues $ 2,280,774 $ 1,991,230 Foreign revenues 550,616 219,614 TOTAL REVENUES $ 2,831,390 $ 2,210,844

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2024
INVENTORIES
Schedule of Inventory Current	March 31, 2024 December 31, 2023 Antimony oxide inventory $ 136,245 $ 252,927 Antimony metal inventory 90,631 237,429 Antimony ore and concentrates inventory 24,482 23,752 Total antimony inventory 251,358 514,108 Zeolite inventory 401,652 505,046 TOTAL INVENTORIES $ 653,010 $ 1,019,154

PROPERTIES PLANTS AND EQUIPME_2

PROPERTIES PLANTS AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2024
PROPERTIES PLANTS AND EQUIPMENT
Major components of property, plant and equipment	March 31, 2024 Antimony Segment Zeolite Segment Precious Metals USAC Mexico BRZ Segment TOTAL Plant and equipment $ 1,675,444 $ 79,001 $ 5,368,804 $ 234,174 $ 7,357,423 Buildings 243,248 11,970 2,025,043 - 2,280,261 Land and other 2,727,198 1,329,987 687,639 - 4,744,824 Construction in progress - - 18,590 - 18,590 PP&E, gross $ 4,645,890 $ 1,420,958 $ 8,100,076 $ 234,174 $ 14,401,098 Accumulated depreciation (2,675,660 ) (239,047 ) (3,597,180 ) (179,399 ) (6,691,286 ) PP&E, net $ 1,970,230 $ 1,181,911 $ 4,502,896 $ 54,775 $ 7,709,812 December 31, 2023 Antimony Segment Zeolite Segment Precious Metals USAC Mexico BRZ Segment TOTAL Plant and equipment $ 1,675,444 $ 79,001 $ 5,336,808 $ 234,174 $ 7,325,427 Buildings 243,248 11,970 2,025,043 - 2,280,261 Land and other 2,727,198 1,329,987 687,639 - 4,744,824 Construction in progress - - 8,951 - 8,951 PP&E, gross $ 4,645,890 $ 1,420,958 $ 8,058,441 $ 234,174 $ 14,359,463 Accumulated depreciation (2,661,719 ) (235,024 ) (3,524,130 ) (173,545 ) (6,594,418 ) PP&E, net $ 1,984,171 $ 1,185,934 $ 4,534,311 $ 60,629 $ 7,765,045

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2024
DEBT
Schedule of Long-term debt	March 31, 2024 December 31, 2023 Installment contract payable to Caterpillar Financial Services, bearing interest at 6.65%, payable in 24 monthly installments of $7,210 maturing April 28, 2024; collateralized by 2007 Caterpillar 740 articulated truck $ 7,170 $ 28,443 Total debt 7,170 28,443 Less current portion of debt (7,170 ) (28,443 ) Long term portion of debt $ - $ -

STOCKHOLDERS EQUITY (Tables)

STOCKHOLDERS EQUITY (Tables)	3 Months Ended
	Mar. 31, 2024
STOCKHOLDERS' EQUITY
Stock options	Stock Options Stock Options Granted On Granted On January 29, 2024 March 1, 2024 Fair value per share of options granted $ 0.24 $ 0.16 Options granted 200,000 3,400,000 Exercise price per share $ 0.25 $ 0.22 Expected Term (in years) 10 3 Risk-free rate 4.08 % 4.32 % Volatility 302.65 % 116.28 %
Warrants outstanding	Number of warrants Exercise Price Expiration Date Remaining life (years) 2,285,715 $ 0.46 7/31/2025 1.33 804,000 $ 0.46 1/27/2026 1.83 7,650,000 $ 0.85 8/3/2026 2..34 1,606,500 $ 0.85 2/1/2026 1.84 12,346,215

BUSINESS SEGEMENTS (Tables)

BUSINESS SEGEMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
BUSINESS SEGEMENTS
Segment information	Total Assets, Excluding Discontinued Operations March 31, 2024 December 31, 2023 Antimony segment: United States total assets $ 14,962,876 $ 14,769,408 Mexico total assets 1,248,036 1,211,319 Subtotal antimony segment $ 16,210,912 $ 15,980,727 Precious metals segment: United States total assets $ 86,864 $ 92,718 Mexico total assets - - Subtotal precious metals segment $ 86,864 $ 92,718 Zeolite segment 5,276,627 5,474,010 Total assets, excluding discontinued operations $ 21,574,403 $ 21,547,455
Summary of capital expenditure	Capital expenditures, Excluding Discontinued Operations For the three months ended March 31, 2024 March 31, 2023 Antimony segment: United States capital expenditures $ - $ 3,550 Mexico capital expenditures - - Subtotal antimony segment $ - $ 3,550 Precious metals segment - - Zeolite segment 52,713 497,652 Total capital expenditures, excluding discontinued operations $ 52,713 $ 501,202
Summary of segement operation	Segment Operations, Excluding Discontinued Operations Antimony Antimony Total Precious For the three months ended March 31, 2024 USA Mexico Antimony Metals Zeolite Total Total revenues $ 2,228,385 $ - $ 2,228,385 $ - $ 603,005 $ 2,831,390 Depreciation and amortization 13,941 4,024 17,965 5,854 82,328 106,147 Income (loss) from operations $ 394,806 ($26,197) $ 368,609 ($5,854) ($431,501) (68,746) Other income 154,847 Income tax expense - NET INCOME $ 86,101 Segment Operations, Excluding Discontinued Operations Antimony Antimony Total Precious For the three months ended March 31, 2023 USA Mexico Antimony Metals Zeolite Total Total revenues $ 1,612,639 $ - $ 1,612,639 $ 116,112 $ 482,093 $ 2,210,844 Depreciation and amortization 8,280 4,024 12,304 5,854 51,174 69,332 Income (loss) from operations $ 62,072 ($27,849) $ 34,223 $ 110,258 ($64,605) $ 79,876 Other income 213,505 Income tax expense - NET INCOME $ 293,381

DISCONTINUED OPERATIONS (Table)

DISCONTINUED OPERATIONS (Table)	3 Months Ended
	Mar. 31, 2024
BUSINESS SEGEMENTS
Loss from discontinued operations	For the three months ended March 31, 2024 March 31, 2023 REVENUES $ 240,677 $ - COST OF REVENUES 474,096 930,262 GROSS PROFIT LOSS (233,419 ) (930,262 ) OPERATING EXPENSES: General and administrative 44,892 14,323 Professional fees 35,151 38,802 Other operating expenses 88,246 108,345 TOTAL OPERATING EXPENSES 168,289 161,470 LOSS FROM OPERATIONS (401,708 ) (1,091,732 ) OTHER EXPENSE: Other miscellaneous expense (7,161 ) (8,633 ) TOTAL OTHER EXPENSE (7,161 ) (8,633 ) LOSS FROM DISCONTINUED OPERATIONS BEFORE TAX (408,869 ) (1,100,365 ) Income tax expense - - LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX $ (408,869 ) $ (1,100,365 )
Assets and liabilities of discontinued operations	March 31, 2024 December 31, 2023 ASSETS CURRENT ASSETS Inventories, net $ 215,110 $ 366,955 Total current assets, discontinued operations 215,110 366,955 Properties, plants and equipment, net 5,689,446 5,689,446 IVA receivable and other assets, net 526,128 491,139 Total assets, discontinued operations $ 6,430,684 $ 6,547,540 LIABILITIES CURRENT LIABILITIES Accounts payable $ 137,744 $ 126,788 Accrued liabilities 20,359 24,500 Total current liabilities, discontinued operations 158,103 151,288 Asset retirement obligations 536,466 536,466 Total liabilities, discontinued operations $ 694,569 $ 687,754

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
TOTAL POSSIBLE DILUTIVE SHARES	$ 12,571,910	$ 12,346,215
Convertible Preferred Stock [Member]
TOTAL POSSIBLE DILUTIVE SHARES	225,695
Warrants [Member]
TOTAL POSSIBLE DILUTIVE SHARES	12,346,215	12,346,215

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
REVENUE	$ 2,831,390	$ 2,210,844
Antimony [Member]
REVENUE	2,228,385	1,612,639
Zeolite [Member]
REVENUE	603,005	482,093
Precious Metals [Member]
REVENUE	$ 0	$ 116,112

REVENUE RECOGNITION (Details 1)

REVENUE RECOGNITION (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
REVENUE	$ 2,831,390	$ 2,210,844
Domestic revenues [Member]
REVENUE	2,280,774	1,991,230
Foreign revenues [Member]
REVENUE	$ 550,616	$ 219,614

REVENUE RECOGNITION (Details Na

REVENUE RECOGNITION (Details Narrative) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
REVENUE RECOGNITION
Trade accounts receivable balance related to contracts with customers	$ 1,057,742	$ 625,256
Doubtful related trade accounts receivables	$ 271,212	$ 271,212

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Inventories	$ 653,010	$ 1,019,154
Antimony Metals [Member]
Inventories	90,631	237,429
Antimony Oxides [Member]
Inventories	136,245	252,927
Antimony Ore Concentrates [Member]
Inventories	24,482	23,752
Zeolite Products [Member]
Inventories	401,652	505,046
Antimony [Member]
Inventories	$ 251,358	$ 514,108

INVENTORIES (Details Narrative)

INVENTORIES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
INVENTORIES
Write down of inventory to net realizable value	$ 80,143	$ 0

PROPERTIES PLANTS AND EQUIPME_3

PROPERTIES PLANTS AND EQUIPMENT (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Plant and equipment	$ 7,357,423	$ 7,325,427
Buildings	2,280,261	2,280,261
Land and other	4,744,824	4,744,824
Construction in progress	18,590	8,951
Plants and equipment net	14,401,098	14,359,463
Accumulated Deprecation	(6,691,286)	(6,594,418)
Property plant and equipment ,net	7,709,812	7,765,045
Antimony Segment USAC [Member]
Plant and equipment	1,675,444	1,675,444
Buildings	243,248	243,248
Land and other	2,727,198	2,727,198
Construction in progress	0
Plants and equipment net	4,645,890	4,645,890
Accumulated Deprecation	(2,675,660)	(2,661,719)
Property plant and equipment ,net	1,970,230	1,984,171
Zeolite Segment BRZ [Member]
Plant and equipment	5,368,804	5,336,808
Buildings	2,025,043	2,025,043
Land and other	687,639	687,639
Construction in progress	18,590	8,951
Plants and equipment net	8,100,076	8,058,441
Accumulated Deprecation	(3,597,180)	(3,524,130)
Property plant and equipment ,net	4,534,311	4,534,311
Precious Metals Segment [Member]
Plant and equipment	234,174	234,174
Buildings	0	0
Land and other	0	0
Construction in progress	0	0
Plants and equipment net	234,174	234,174
Accumulated Deprecation	(179,399)	(173,545)
Property plant and equipment ,net	54,775	60,629
Antimony Segment Mexico [Member]
Plant and equipment	79,001	79,001
Buildings	11,970	11,970
Land and other	1,329,987	1,329,987
Construction in progress	0
Plants and equipment net	1,420,958	1,420,958
Accumulated Deprecation	(239,047)	(235,024)
Property plant and equipment ,net	$ 1,181,911	$ 1,185,934

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Long term debt	$ 7,170	$ 28,443
Less current portion	(7,170)	(28,443)
Long term portion	0	0
Caterpillar Financial Services [Member]
Long term debt	$ 7,170	$ 28,443

LONG-TERM DEBT (Details Narrati

LONG-TERM DEBT (Details Narrative) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
DEBT
Long term debt	$ 7,170	$ 28,443

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Accrued royalties payable	$ 52,527	$ 153,429
Minimum [Member]
Royalties vary	8%
Maximum [Member]
Royalties vary	13%

STOCKHOLDERS EQUITY (Details)

STOCKHOLDERS EQUITY (Details) - $ / shares		1 Months Ended
	Mar. 01, 2023	Jan. 29, 2024	Mar. 01, 2024
STOCKHOLDERS' EQUITY
Fair value per share of options granted	$ 0.16	$ 0.24
Exercise price per share		$ 0.25	$ 0.22
Options granted	3,400,000	200,000
Expected Term (in years)	3 years	10 years
Risk-free rate	4.32%	4.08%
Volatility	116.28%	302.65%

STOCKHOLDERS EQUITY (Details 1)

STOCKHOLDERS EQUITY (Details 1)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Warrant 1
Number of warrants	2,285,715
Exercise Price | $ / shares	$ 0.46
Remaining life	1 year 3 months 29 days
Expiration date	Jul. 31, 2025
Warrant 2
Number of warrants	804,000
Exercise Price | $ / shares	$ 0.46
Remaining life	1 year 9 months 29 days
Expiration date	Jan. 27, 2026
Warrant 3
Number of warrants	7,650,000
Exercise Price | $ / shares	$ 0.85
Remaining life	2 years 4 months 2 days
Expiration date	Aug. 03, 2026
Warrant 4
Number of warrants	1,606,500
Exercise Price | $ / shares	$ 0.85
Remaining life	1 year 10 months 2 days
Expiration date	Feb. 01, 2026
Warrants [Member]
Number of warrants	12,346,215

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - USD ($)		1 Months Ended		3 Months Ended
	Mar. 01, 2023	Jan. 29, 2024	Jan. 26, 2023	Mar. 31, 2024	Dec. 31, 2023	Jan. 25, 2023	Dec. 31, 2022
Cash paid to shareholders						$ 787,730
Description of returned of shares			the Company returned to treasury and cancelled 418,696 of its common shares which were repurchased prior to December 31, 2022 for $202,980
Dividend paid				$ 740,261
Options granted	3,400,000	200,000
Preferred stock, issued shares						1,692,672
Preferred stock, authorized shares				10,000,000	10,000,000		100,000
Board Of Directors [Member]
Options granted		200,000
Unrecognized compensation expense		$ 22,667		$ 333,819
Description				The fair value of the RSUs granted on January 29, 2024 was $24,000 and the fair value of the stock options granted on January 29, 2024 was $48,000. The Company’s Board of Directors also granted 2,375,000 RSUs and 3,400,000 stock options to employees and non-employee directors on March 1, 2024 with the RSUs vesting one-third each year beginning on the grant date, 2,500,000 stock options vesting one-third each year beginning each anniversary subsequent to the grant date, and 900,000 stock options with performance-based vesting conditions and a 3-year term. The fair value of the RSUs granted on March 1, 2024 was $522,500 and the fair value of the stock options granted on March 1, 2024 was $544,000. One-third of the RSUs granted on March 1, 2024, which equates to 791,667 shares of the Company’s common stock, vested during the three months ended March 31, 2024. At March 31, 2024, 1,583,333 RSU’s are unvested from the March 1, 2024 grant and 100,000 RSUs are unvested from the January 29, 2024 grant. The Company expensed $205,925 and $nil during the three months ended March 31, 2024 and 2023, respectively, related to stock option and RSU grant
Remaning Unrecognized compensation expense		$ 528,889
Remaining life		2 years 11 months 1 day		2 years 9 months 29 days
Board Of Directors One [Member]
Unrecognized compensation expense		$ 47,200		$ 102,000
Remaining life		8 years 3 months 29 days		2 years 11 months 1 day
Preferred Stock D Series [Member]
Cash paid to shareholders						$ 787,730
Number of shares converted						1,590,672
Preferred stock, issued shares						1,692,672
Preferred stock, authorized shares		1,000,000
Number of shares converted amount			$ 740,261
Total Series D Preferred stock shares						1,692,672

Business Segments (Details)

Business Segments (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Total assets	$ 21,574,403	$ 21,547,455
Mexico Antimony [Member]
Total assets	1,248,036	1,211,319
United States Antimony [Member]
Total assets	14,962,876	14,769,408
Subtotal Antimony [Member]
Total assets	16,210,912	15,980,727
United States Precious Metals [Member]
Total assets	86,864	92,718
Mexico Precious Metals [Member]
Total assets	0	0
Subtotal Precious Metals [Member]
Total assets	86,864	92,718
Zeolite [Member]
Total assets	$ 5,276,627	$ 5,474,010

Business Segments (Details 1)

Business Segments (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Capital expenditures	$ 52,713	$ 501,202
Mexico Antimony [Member]
Capital expenditures	0	0
United States Antimony [Member]
Capital expenditures	0	3,550
Subtotal Antimony [Member]
Capital expenditures	0	3,550
Subtotal Precious Metals [Member]
Capital expenditures	0	0
Zeolite [Member]
Capital expenditures	$ 52,713	$ 497,652

Business Segments (Details 2)

Business Segments (Details 2) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
REVENUE	$ 2,831,390	$ 2,210,844
Depreciation and amortization	106,147	69,332
Income (loss) from operations	(68,746)	79,876
Other income (expense)	154,847	213,505
Total income tax expense	0	0
INCOME FROM CONTINUING OPERATIONS	86,101	293,381
Net income (loss)	86,101	293,381
Mexico Antimony [Member]
REVENUE	0	0
Depreciation and amortization	4,024	4,024
Income (loss) from operations	(26,197)	(27,849)
Other income (expense)	0	0
Total income tax expense	0	0
INCOME FROM CONTINUING OPERATIONS	0	0
Net income (loss)	0	0
United States Antimony [Member]
REVENUE	2,228,385	1,612,639
Depreciation and amortization	13,941	8,280
Income (loss) from operations	(394,806)	(62,072)
Other income (expense)	0	0
Total income tax expense	0	0
INCOME FROM CONTINUING OPERATIONS	0	0
Net income (loss)	0	0
Total Antimony [Member]
REVENUE	2,228,385	1,612,639
Depreciation and amortization	17,965	12,304
Income (loss) from operations	(368,609)	(34,223)
Other income (expense)	0	0
Total income tax expense	0	0
INCOME FROM CONTINUING OPERATIONS	0	0
Net income (loss)	0	0
Zeolite [Member]
REVENUE	603,005	482,093
Depreciation and amortization	82,328	51,174
Income (loss) from operations	(431,501)	(64,605)
Other income (expense)	0	0
Total income tax expense	0	0
INCOME FROM CONTINUING OPERATIONS	0	0
Net income (loss)	0	0
Precious Metals [Member]
REVENUE	0	116,112
Depreciation and amortization	5,854	5,854
Income (loss) from operations	(5,854)	110,258
Other income (expense)	0	0
Total income tax expense	0	0
INCOME FROM CONTINUING OPERATIONS	0	0
Net income (loss)	$ 0	$ 0

Discontinued operations (Detail

Discontinued operations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
REVENUE	$ 2,831,390	$ 2,210,844
COST OF REVENUES	2,008,486	1,816,001
GROSS PROFIT (LOSS)	822,904	394,843
General and administrative	455,394	141,271
Professional fees	177,157	46,004
TOTAL OPERATING EXPENSES	891,650	314,967
INCOME (LOSS) FROM OPERATIONS	(68,746)	79,876
Other miscellaneous income (expense)	(2,372)	83,608
TOTAL OTHER INCOME (EXPENSE)	154,847	213,505
INCOME (LOSS) BEFORE INCOME TAX	(408,869)	(1,100,365)
Income tax expense	0	0
Discontinue Operation [Member]
REVENUE	240,677	0
COST OF REVENUES	474,096	930,262
GROSS PROFIT (LOSS)	(233,419)	(930,262)
General and administrative	44,892	14,323
Professional fees	35,151	38,802
Other operating expenses	88,246	108,345
TOTAL OPERATING EXPENSES	168,289	161,470
INCOME (LOSS) FROM OPERATIONS	(401,708)	(1,091,732)
Other miscellaneous income (expense)	(7,161)	(8,633)
TOTAL OTHER INCOME (EXPENSE)	(7,161)	(8,633)
INCOME (LOSS) BEFORE INCOME TAX	(408,869)	(1,100,365)
Income tax expense	0	0
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX	$ (408,869)	$ (1,100,365)

Discontinued operations (Deta_2

Discontinued operations (Details 1) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Inventories, net	$ 653,010	$ 1,019,154
Total current assets, discontinued operations	14,006,543	14,076,206
Properties, plants and equipment, net	7,709,812	7,765,045
Total assets	28,005,087	28,094,995
Accounts payable	403,441	330,147
Accrued liabilities	117,822	109,341
Total current liabilities	906,122	897,458
Asset retirement obligations and accrued reclamation costs	1,119,832	1,101,561
Total liabilities	2,600,962	2,574,027
Discontinue Operation [Member]
Inventories, net	215,110	366,955
Total current assets, discontinued operations	215,110	366,955
Properties, plants and equipment, net	5,689,446	5,689,446
IVA receivable and other assets	526,128	491,139
Total assets	6,430,684	6,547,540
Accounts payable	137,744	126,788
Accrued liabilities	20,359	24,500
Total current liabilities	158,103	151,288
Asset retirement obligations and accrued reclamation costs	536,466	536,466
Total liabilities	$ 694,569	$ 687,754

Discontinued operations (Deta_3

Discontinued operations (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Nov. 30, 2019	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Depreciation and amortization		$ 106,147	$ 69,332
Discontinue Operation [Member]
Inventories, net		43,074		$ 246,792
Depreciation and amortization		0	154,909
Capital expenditures		0	$ 113,568
Asset retirement obligations and accrued reclamation costs		0		2,993
Total Income tax	$ 795,000	666,400		1,320,000
Mexican Tax Authority [Member]
Income tax	$ 16,300,000	13,800,000		22,400,000
Unpaid income taxes				352,000
Interest and penalties amount				968,000
Value Added Tax receivable amount		717,647		687,534
Value Added Tax receivable Net		$ 470,083		$ 435,094