Chilean Cobalt (COBA) 10-Q 19 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 19, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	333-268335
Entity Registrant Name	CHILEAN COBALT CORP.
Entity Central Index Key	0001727255
Entity Tax Identification Number	82-3590294
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	1199 Lancaster Ave
Entity Address, Address Line Two	Suite 107
Entity Address, City or Town	Berwyn
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19312
City Area Code	484
Local Phone Number	580-8697
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		43,502,145

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash	$ 417,317	$ 799,871
Prepaid expenses	66,506	57,001
Total current assets	483,823	856,872
Property and equipment, net	2,958	2,958
Total assets	486,781	859,830
Current liabilities:
Accounts payable	24,070	10,103
Accrued service expenses	17,619	10,886
Total current liabilities	41,689	20,989
Total liabilities	41,689	20,989
Stockholders' Equity:
Series A Convertible Preferred Stock, $0.0001 par value; 19,848,875 shares authorized and 0 and 0 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	0	0
Common Stock, $0.0001 par value; 100,000,000 shares authorized and 43,502,145 and 43,285,716 issued and outstanding at June 30, 2024 and December 31, 2023, respectively	4,350	4,329
Additional paid-in capital	33,162,364	33,081,263
Accumulated other comprehensive income	251,926	253,487
Accumulated deficit	(32,973,548)	(32,500,238)
Total stockholders' equity	445,092	838,841
Total liabilities and stockholders' equity	$ 486,781	$ 859,830

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	19,848,875	19,848,875
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	43,502,145	43,285,716
Common stock, shares outstanding	43,502,145	43,285,716

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATION AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues	$ 0	$ 0	$ 0	$ 0
Operating expenses:
General and administrative	214,425	282,090	485,764	614,622
Depreciation	0	3,685	0	6,586
Foreign currency transaction (gain) loss	664	(32)	(545)	349
Total operating expenses	215,089	285,743	485,219	621,557
Loss from operations	(215,089)	(285,743)	(485,219)	(621,557)
Interest income	4,955	10,021	11,909	10,148
Loss before income taxes	(210,134)	(275,722)	(473,310)	(611,409)
Net loss	$ (210,134)	$ (275,722)	$ (473,310)	$ (611,409)
Basic loss per common share	$ 0	$ (0.01)	$ (0.01)	$ (0.01)
Diluted loss per common share	$ 0	$ (0.01)	$ (0.01)	$ (0.01)
Weighted-average number of shares outstanding:
Weighted-average number of shares outstanding basic loss per common share	43,502,145	42,767,662	43,409,390	40,894,239
Weighted-average number of shares outstanding diluted loss per common share	43,502,145	42,767,662	43,409,390	40,894,239
Comprehensive loss:
Net loss	$ (210,134)	$ (275,722)	$ (473,310)	$ (611,409)
Foreign currency translation adjustments	1,290	(1,225)	(1,561)	(957)
Comprehensive loss	$ (208,844)	$ (276,947)	$ (474,871)	$ (612,366)

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2022	$ 0	$ 3,900	$ 31,597,839	$ 260,031	$ (31,207,496)	$ 654,274
Beginning balance, shares at Dec. 31, 2022	0	39,000,000
Foreign currency translation				269		269
Stock based compensation			90,149			90,149
Net loss					(335,687)	(335,687)
Ending balance, value at Mar. 31, 2023	$ 0	$ 3,900	31,687,988	260,300	(31,543,183)	409,005
Ending balance, shares at Mar. 31, 2023	0	39,000,000
Beginning balance, value at Dec. 31, 2022	$ 0	$ 3,900	31,597,839	260,031	(31,207,496)	654,274
Beginning balance, shares at Dec. 31, 2022	0	39,000,000
Foreign currency translation						(957)
Net loss						(611,409)
Ending balance, value at Jun. 30, 2023	$ 0	$ 4,329	32,877,027	259,075	(31,818,905)	1,321,526
Ending balance, shares at Jun. 30, 2023	0	43,285,716
Beginning balance, value at Mar. 31, 2023	$ 0	$ 3,900	31,687,988	260,300	(31,543,183)	409,005
Beginning balance, shares at Mar. 31, 2023	0	39,000,000
Issuance of Common Stock in a private placement		$ 429	1,099,571			1,100,000
Issuance of Common Stock in a private placement, shares		4,285,716
Foreign currency translation				(1,225)		(1,225)
Stock based compensation			89,468			89,468
Net loss					(275,722)	(275,722)
Ending balance, value at Jun. 30, 2023	$ 0	$ 4,329	32,877,027	259,075	(31,818,905)	1,321,526
Ending balance, shares at Jun. 30, 2023	0	43,285,716
Beginning balance, value at Dec. 31, 2023	$ 0	$ 4,329	33,081,263	253,487	(32,500,238)	838,841
Beginning balance, shares at Dec. 31, 2023	0	43,285,716
Foreign currency translation				(2,851)		(2,851)
Stock based compensation		$ 21	40,539			40,560
Stock based compensation, shares		216,429
Net loss					(263,176)	(263,176)
Ending balance, value at Mar. 31, 2024	$ 0	$ 4,350	33,121,802	250,636	(32,763,414)	613,374
Ending balance, shares at Mar. 31, 2024	0	43,502,145
Beginning balance, value at Dec. 31, 2023	$ 0	$ 4,329	33,081,263	253,487	(32,500,238)	838,841
Beginning balance, shares at Dec. 31, 2023	0	43,285,716
Foreign currency translation						(1,561)
Net loss						(473,310)
Ending balance, value at Jun. 30, 2024	$ 0	$ 4,350	33,162,364	251,926	(32,973,548)	445,092
Ending balance, shares at Jun. 30, 2024	0	43,502,145
Beginning balance, value at Mar. 31, 2024	$ 0	$ 4,350	33,121,802	250,636	(32,763,414)	613,374
Beginning balance, shares at Mar. 31, 2024	0	43,502,145
Foreign currency translation				1,290		1,290
Stock based compensation			40,562			40,562
Net loss					(210,134)	(210,134)
Ending balance, value at Jun. 30, 2024	$ 0	$ 4,350	$ 33,162,364	$ 251,926	$ (32,973,548)	$ 445,092
Ending balance, shares at Jun. 30, 2024	0	43,502,145

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (473,310)	$ (611,409)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	0	6,586
Stock based compensation	81,122	179,617
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(9,659)	(18,088)
Accounts payable and accrued liabilities	20,923	3,048
Net cash used in operating activities	(380,924)	(440,246)
Cash flows from financing activities:
Proceeds from issuance of Common Stock	0	1,100,000
Net cash provided by financing activities	0	1,100,000
Effect of foreign exchange rate on cash	(1,630)	876
Net increase (decrease) in cash	(382,554)	660,630
Cash at beginning of period	799,871	630,803
Cash at end of period	$ 417,317	$ 1,291,433

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (210,134)	$ (263,176)	$ (275,722)	$ (335,687)	$ (473,310)	$ (611,409)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Nature of Busi

Organization and Nature of Business	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	1. Organization and Nature of Business The accompanying condensed consolidated financial statements include the accounts of Chilean Cobalt Corp. (the “Company”) (OTCQB: COBA), a Nevada corporation formed on December 4, 2017, and its wholly-owned subsidiary Baltum Minería SpA (“Baltum”), a Chilean Sociedad por Acciones formed on January 3, 2018. The Company is a primary cobalt, secondary copper, junior mining and exploration company. Cobalt, a critical mineral for many of the current cathode battery chemistry configuration options in the electric vehicle (“EV”) battery production space, was mined in Chile for 100 years from 1844 thru 1944 and ceased at the end of World War II. Baltum owns exploitation-level mining concessions for 2,635 hectares in the San Juan Mining District in northern Chile. On May 12, 2022, the former Parent Company, Genlith, Inc. distributed all of its shares in the Company to its individual shareholders. As of the date of the distribution, Genlith, Inc. no longer held an equity interest in the Company. The Company’s year-end is December 31.

Going Concern

Going Concern	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	2. Going Concern The Company has not yet begun to generate revenue as of June 30, 2024, has incurred recurring losses since inception, and expects to continue to incur losses as a result of costs and expenses related to mining exploration and general and administrative expenses. For the six-month period and three-month period ended June 30, 2024, the Company reported a net loss of $ 473,310 210,134 32,973,548 The ability of the Company to continue as a going concern over a longer term is dependent on the Company’s ability to raise the financing necessary to complete the exploration and development of cobalt and copper mines and bring mining operations into production and commercialization. With a cash balance of $ 417,317

Summary of Significant Accounti

Summary of Significant Accounting Policies Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies Basis of Presentation	3. Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The condensed financial statements include the consolidated accounts of the Company and its wholly-owned subsidiary Baltum Minería SpA. All material intercompany transactions have been eliminated in consolidation. Forward Stock Split On May 2, 2023, the Company effected a 3 for 1 forward stock split Earnings Per Share The weighted-average common shares outstanding for both basic and diluted earnings per share for all periods presented was calculated, in accordance with ASC 260, Earnings Per Share. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include but are not limited to, the applicability of accrued expenses. Estimates are periodically reviewed in light of changes in circumstances, facts, and experience. Actual results could differ from the Company’s estimates and those differences may be material. Cash Cash amounts consist of cash on hand, bank deposits, and money market accounts. Cash equivalents consist of all liquid debt instruments with original maturities of three months or less. As of June 30, 2024, and December 31, 2023, the Company’s cash balances were $ 417,317 799,871 0 0 Value Added Tax (“VAT Tax”) The Company’s subsidiary historically has paid significant amounts of value-added tax (“VAT Tax”) to the Chilean government on certain operating purchases. The tax paid can be offset against future VAT Tax due. The Company has not recorded any VAT tax receivables as of June 30, 2024, and December 31, 2023, because the Company's ability to fund future expenditures necessary to recover VAT taxes paid in, is currently indeterminable. Property and Equipment Property, plant and equipment are stated at cost less accumulated depreciation. Acquired property, plant and equipment are recognized at their estimated fair value. Capitalized costs may include computers, vehicles, furniture and fixtures, machinery, and equipment, and are depreciated using the straight-line method or unit-of-production method at rates sufficient to depreciate such costs over the shorter of estimated productive lives or the useful life of the individual assets. Useful lives range from 3 10 20 40 Gains and losses are reflected in income or expense upon sale or retirement of assets. Expenditures that extend the useful lives of property, plant and equipment or increase productivity are capitalized. Ordinary repairs and maintenance are expensed as incurred through operating expense. We periodically evaluate whether events or circumstances indicate that the net book value of our property, plant and equipment may not be recoverable. Capitalized interest, if applicable, is amortized over the estimated useful life of the assets. For the three-months ended June 30, 2023 and 2024, we capitalized interest expense of $- 0 0 0 0 Costs are capitalized when it has been determined an ore body can be economically developed. The development stage begins at new projects when our management and/or board of directors make the decision to bring a mine into commercial production and ends when the production state, or extraction of reserves, begins. The production stage of a mine commences when salable materials, beyond a de minimis amount, are produced. Exploration costs include those relating to activities carried out (a) in search of previously unidentified mineral deposits or (b) at undeveloped concessions. Pre-development activities involve costs incurred in the exploration stage that may ultimately benefit production and are expensed due to lack of evidence of economic development, which is necessary to demonstrate future recoverability of these expenses. Costs for exploration, evaluation, and pre-development, including drilling costs related to those activities (discussed further below), and repairs and maintenance on capitalized property and equipment are charged to operations as incurred. Drilling, development, and related costs are either classified as exploration, pre-development or secondary development as defined above, and charged to operations as incurred, or capitalized based on the following criteria: · whether the costs are incurred to further define mineralization at and adjacent to existing reserve areas or intended to assist with mine planning within a reserved area; · whether the drilling or development costs relate to an ore body that has been determined to be commercially mineable, and a decision has been made to put the ore body into commercial production; · whether, at the time the cost is incurred: (a) the expenditure embodies a probable future benefit that involves a capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflows, (b) we can obtain the benefit and control others’ access to it, and (c) the transaction or event giving risk to our right to or control of the benefit has already occurred. If all of these criteria are met, drilling, development and related costs are capitalized. Drilling and development costs not meeting all of these criteria are expensed as incurred. The following factors are considered in determining whether or not the criteria listed above have been met, and whether capitalization of drilling and development costs is appropriate: · Completion of a favorable economic study and mine plan for the ore body targeted; · authorization of development of the ore body by management and/or the board of directors; and · there is a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues and/or contractual requirements necessary for us to have the right to or control of the future benefit from the targeted ore body have been met. Drilling and related costs at our properties as of and for the six-months ended June 30, 2024, and June 30, 2023, respectively, and the three-months ended June 30, 2024, and June 30, 2023, respectively, did not meet our criteria for capitalization. When assets are retired or sold, the costs and related allowances for depreciation and amortization are eliminated from the accounts and any resulting gain or loss is reflected in the current period net income (loss). Impairment of Long-lived Assets Long-lived assets consist of property and equipment. Long-lived assets to be held and used are tested for recoverability whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. Factors that the Company considers in deciding when to perform an impairment review include significant underperformance of the business in relation to expectations, significant negative industry or economic trends, and significant changes or planned changes in the use of the assets. If an impairment review is performed to evaluate a long-lived asset for recoverability, the Company compares forecasts of undiscounted cash flows expected to result from the use and eventual disposition of the long-lived asset to its carrying value. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use and eventual disposition of an asset are less than its carrying amount. The impairment loss would be based on the excess of the carrying value of the impaired asset over its fair value less cost to sell or dispose, determined based on discounted cash flows. During the six-months ended June 30, 2023 and 2024, we recorded no Asset Retirement Obligations We record asset retirement obligations (“AROs”) at present value at the time the liability is incurred, if we can reasonably estimate the settlement date. The associated AROs are capitalized as part of the carrying amount of related long-lived assets. In future periods, the liability is accreted to its estimated fair value and the capitalized cost is depreciated over the useful life of the related asset. We also adjust the liability for changes resulting from the passage of time and/or revisions to the timing or the amount of the original estimate. Upon retirement of the long-lived asset, we either settle the obligation for its recorded amount or incur a gain or loss. The carrying amounts for the AROs for the three-months ended June 30, 2023 and 2024 are $- 0 0 0 0 Environmental Obligations We provide for environmental-related obligations when they are probable and amounts can be reasonably estimated. Where the available information is sufficient to estimate the amount of liability, that estimate has been used. Included in our environmental liabilities are costs for the operation, maintenance and monitoring of site remediation plans (“OM&M”). Such reserves are based on our best estimates for these OM&M plans. Over time we may incur OM&M costs in excess of these reserves. However, we are unable to reasonably estimate an amount in excess of our recorded reserves because we cannot reasonably estimate the period for which such OM&M plans will need to be in place or the future annual cost of such remediation, as conditions at these environmental sites change over time. Such additional OM&M costs could be significant in total but would be incurred over an extended period of years. Environmental remediation charges represent the costs for continuing charges associated with environmental remediation at operating sites from previous years and from products that are no longer manufactured. Leases The Company determines if an arrangement is a lease at the inception of the contract. If applicable, our operating leases are included in Operating lease right-of-use (“ROU”) assets, Operating lease liabilities – current, and Operating lease liabilities – long term in the condensed consolidated balance sheets. The operating lease ROU assets and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit interest rate, we utilize an estimated incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. In determining the discount rate used in the present value calculation, the Company has elected to apply the portfolio approach for leases provided the leases commenced at or around the same time. This election allows the Company to account for leases at a portfolio level provided that the resulting accounting at this level would not differ materially from the accounting at the individual lease level. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. If leases are applicable, the Company has elected not to separate lease and non-lease components and accounts for each separate lease component and non-lease component associated with that lease component as a single lease component. Operating lease ROU assets include all contractual lease payments and initial direct costs incurred less any lease incentives. Facility leases generally only contain lease expense and non-component items such as taxes and pass-through charges. Additionally, we have elected not to apply the recognition requirements of ASC 842 to leases which have a lease term of less than one year at the commencement date. Mining Concessions Mining concessions are recorded at cost based on the payments required under the contracts. Amortization begins when placed in service after the mining concession is exercised. Mining concessions are amortized over their useful life based on the pattern over which the mining concessions are consumed or otherwise used up. Determination of expected useful lives for amortization calculations is made on a property-by-property or asset-by-asset basis at least annually. At the time an ore body can be economically developed, the basis of the mining concession will be amortized on a units-of-production basis. Pursuant to our policy on the impairment of long-lived assets, if it is determined that a mining concession cannot be economically developed or its innate value has not been independently substantiated, the basis of the mining concession is reduced to its fair value and an impairment loss is recorded to expense in the period in which it is determined to be impaired. Finite-lived intangible assets are tested for impairment when events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. Intangible assets that are not subject to amortization are tested for impairment annually and more frequently if events or changes in circumstances indicate that is more likely than not, meaning more than 50%, that the asset is impaired. The value of the exploitation mining concessions owned by Baltum has yet to be independently substantiated by a valuation or any level of feasibility study. As of June 30, 2024, and December 31, 2023, these mining concessions had a value of $- 0 0 Restructuring and Other Charges We continually perform strategic reviews and assess the returns on our businesses. In the event that this results in a plan to restructure the operations of our business, we record an accrual for severance and other exit costs under the provisions of the relevant accounting guidance. Additionally, in the event of restructuring plans, write-downs of long-lived assets may occur. Two types of assets are impacted: assets to be disposed of by sale and assets to be abandoned. Assets to be disposed of by sale are measured at the lower of carrying amount or estimated net proceeds from the sale. Assets to be abandoned with no remaining future service potential are written down to amounts expected to be recovered. The useful life of assets to be abandoned that have a remaining future service potential is adjusted and depreciation is recorded over the adjusted useful life. Research and Development Research and development costs are expensed as incurred. Foreign Currency The reporting currency of the Company is the U.S. dollar. The functional currency of Baltum, the Company’s wholly-owned subsidiary, is the Chilean Peso. The assets and liabilities of Baltum are translated into U.S. dollars based on exchange rates at the end of each reporting period. Expenses are translated at average exchange rates during the reporting period. Gains and losses arising from the translation of assets and liabilities are included as a component of accumulated other comprehensive income or loss within the Company’s condensed consolidated balance sheets. Gains and losses resulting from foreign currency transactions are reflected within the Company’s condensed consolidated statements of operations. Transactions denominated in foreign currency other than our functional currency of the foreign operation are recorded upon initial recognition at the exchange rate at the date of the transaction. After initial recognition, monetary assets and liabilities denominated in foreign currency are remeasured at each reporting date into the functional currency at the exchange rate at that date. The Company has not utilized foreign currency hedging strategies to mitigate the effect of its foreign currency exposure. We recorded transaction and remeasurement gains of $- 0 0 0 0 Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the condensed consolidated financial statements or in the Company’s tax returns. Deferred taxes are determined based on the differences between the condensed consolidated financial statements and tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in the provision for income taxes. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent it believes, based upon the weight of available evidence, that is more likely than not that all or a portion of the deferred tax assets will not be realized, a valuation allowance is established through a charge to income tax expense. The potential for recovery of deferred tax assets is evaluated by estimating the future taxable profits expected and considering prudent and feasible tax planning strategies. The Company’s wholly owned subsidiary is subject to foreign corporate tax in foreign taxing jurisdictions. We do not provide income taxes on the equity in undistributed earnings of condensed consolidated foreign subsidiaries as it is our intention that such earnings will remain invested in those companies. The Company accounts for income taxes in accordance with Accounting Standards Codification 740, “Accounting for Income Taxes” (“ASC 740”). Under ASC 740, income tax expense includes federal and state taxes currently payable and deferred taxes arising from temporary differences between income for financial reporting and income tax purposes. In accordance with ASC 740, the Company has evaluated its tax positions. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that has a likelihood of being realized on examination of more than 50 percent. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Under the “more likely than not” threshold guidelines, the Company believes no significant uncertain tax positions exist, either individually or in the aggregate, that would give rise to the non-recognition of an existing tax benefit. The Company’s policy is to account for interest expense and penalties related to unrecognized tax benefits as a component of income tax expense. The Company is currently not under examination with any federal, state, or foreign taxing authorities. In addition, the Company had no Concentration of Credit Risk and of Significant Vendors The Company maintains cash balances at financial institutions in the U.S. and Chile. The Company holds all cash balances at accredited financial institutions, in amounts that exceed federally insured limits in the United States of America. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships. Recently Issued and Adopted Accounting Pronouncements There are not any recently issued and adopted accounting pronouncements that have a material impact on the Company’s condensed consolidated financial statements as of June 30, 2024, and December 31, 2023.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	4. Property and Equipment, Net Property and equipment, net consisted of the following: Schedule of property and equipment, net June 30, December 31, 2024 2023 Machinery and equipment $ 29,583 $ 29,583 Property and equipment, gross 29,583 29,583 Accumulated depreciation (26,625 ) (26,625 ) Property and equipment, net $ 2,958 $ 2,958 Depreciation expenses for the six-months ended June 30, 2024, and June 30, 2023, amounted to $- 0 6,586 0 3,685

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following: Schedule of accrued expenses June 30, December 31, 2024 2023 Service fees $ 15,194 $ 8,127 Employee benefits 2,000 2,083 Other 425 676 Total accrued expenses $ 17,619 $ 10,886

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders’ Equity	6. Stockholders’ Equity Preferred Stock The Company’s certificate of incorporation authorized the Company to issue 25,000,000 shares of Preferred Stock, $0.0001 par value. On December 28, 2017, a Certificate of Designations was resolved and approved by the board and signed into being that authorized the issuance of 7,500,000 shares of Series A Convertible Preferred Stock, of which 5,151,125 were issued and then later converted to common stock on August 10, 2020. Once converted the provisions of the Certificate of Designations do not allow for the re-issuance of those shares. There were no Common Stock The Company’s certificate of incorporation authorizes the Company to issue 100,000,000 0.0001 43,502,145 43,285,716 2024 Issuances: During the six-months ended June 30, 2024, the Company issued the following shares of common stock: · 216,429 0.26 56,272 28,136 2023 Issuances: During the twelve-month period ended December 31, 2023, the Company issued the following shares of common stock: · 409,092 105,000 3,876,624 995,000 · In aggregate, 4,285,716 1,100,000 Forward Stock Split On May 2, 2023, the Company effected a 3 for 1 forward stock split Stock Options On April 26, 2022, the board adopted, and by shareholder consent achieved on April 29, 2022, the shareholders approved the Company’s 2022 Equity Incentive Plan (the “2022 Plan”), which allows awards for up to 5,850,000 options to purchase 5,850,000 5,611,254 On May 24, 2022, the Company granted stock options to purchase an aggregate of 5,025,000 0.20 The options vest quarterly starting on June 30, 2022, for 25% of the granted shares and then the remainder in equal installments over a one-and-one-half-year period and expire in 10 years from the date of the grant. On June 1, 2022, the Company granted stock options to purchase an aggregate of 80,004 0.20 The options vest quarterly in equal installments over a one-year period and expire in 10 years from the date of grant. On July 15, 2022, the Company granted stock options to purchase an aggregate of 450,000 0.20 The options vest quarterly starting on September 30, 2022, for 25% of the granted shares and then the remainder in equal installments over a three-quarter year period and expire in 10 years from the date of grant. On July 28, 2022, the Company granted stock options to purchase an aggregate of 150,000 0.20 The options vest quarterly starting on September 30, 2022, for 12.5 % of the granted shares and then the remainder in equal installments over a one-and-three-quarter-year period and expire in 10 years from the date of grant. On June 29, 2023, the board adopted, and by shareholder consent achieved on June 30, 2023, the shareholders approved the Company’s 2023 Equity Incentive Plan (the “2023 Plan”), which allows awards for up to 1,963,746 options to purchase 1,963,746 1,175,000 On July 1, 2023, the Company granted stock options to purchase an aggregate of 750,000 0.26 The options vest quarterly starting on October 1, 2023, in equal installments over a two-year period and expire in 10 years from the date of grant. On July 7, 2023, the Company granted stock options to purchase an aggregate of 300,000 0.26 The options vest quarterly starting on October 1, 2023, for 12.5% of the granted shares and then the remainder in equal installments over a one-and-one-half-year period and expire in 10 years from the date of grant. On January 25, 2024, the Company granted stock options to purchase an aggregate of 75,000 0.26 The options vest quarterly starting on March 31, 2024, for 25% of the granted shares and then the remainder in equal installments at each quarter-end through the end of 2024 and expire in 10 years from the date of grant. On February 13, 2024, the Company granted stock options to purchase an aggregate of 50,000 0.26 The options vest quarterly starting on March 31, 2024, for 25% of the granted shares and then the remainder in equal installments at each quarter-end through the end of 2024 and expire in 10 years from the date of grant. The fair value of the options granted was estimated on the date of grant using the Black-Scholes options pricing model, with the following weighted average assumptions: Description As of June 30, 2023 As of June 30, 2024 Expected dividend yield 0.00 0.00 Expected stock volatility (a) 62.97 67.20 Risk-free interest rate 4.034 5.027 Expected life of options (years) 3.00 5.00 3.00 5.00 Expected forfeiture rate 0.00 0.00 Grant date fair value per option $ 0.1024 0.1265 $ 0.1251 0.1679 (a) At the time of determination of expected stock volatility, the Company's securities were not currently trading on any stock exchange. The expected stock volatility was estimated using three public companies in the same industry as the Company. As the Company's securities are now trading on the OTCQB listing, future issuances will attempt to use the historical volatility of the Company to the extent that there is sufficient history and volume to produce a meaningful expected stock volatility value, otherwise, the same pre-public method using three comparable companies will be used until the history and volumes traded are sufficiently representative. During the six-months ended June 30, 2024 and June 30, 2023, the Company recorded stock-based compensation expenses of $ 52,986 179,617 26,494 89,468 89,664 7,055,067 1.25 A summary of the changes in stock options outstanding at June 30, 2024 are presented below: Schedule of changes in stock options outstanding Options Outstanding Number of Shares Weighted Average Exercise Price Balance, December 31, 2021 – n/a Issued 5,705,004 $ 0.20 Expired/Forfeited (93,750 ) $ 0.20 Exercised – n/a Balance, December 31, 2022 5,611,254 $ 0.20 Issued 1,050,000 0.26 Expired/Forfeited – n/a Exercised – n/a Balance, December 31, 2023 6,661,254 $ 0.21 Issued 125,000 0.26 Expired/Forfeited – n/a Exercised – n/a Balance, March 31, 2024 6,786,254 $ 0.21 Issued – n/a Expired/Forfeited – n/a Exercised – n/a Balance, June 30, 2024 6,786,254 $ 0.21 The Company has the following options outstanding and exercisable at June 30, 2024: Schedule of options outstanding and exercisable Issue Date Expiry Date Exercise Price Number of Options Remaining Life May 24, 2022 May 23, 2032 0.20 4,931,250 7.90 June 1, 2022 May 31, 2032 0.20 80,004 7.93 July 15, 2022 July 14, 2032 0.20 450,000 8.05 July 28, 2022 July 27, 2032 0.20 150,000 8.08 July 1, 2023 June 30, 2033 0.26 750,000 9.01 July 7, 2023 July 6, 2033 0.26 300,000 9.02 January 25, 2024 January 24, 2034 0.26 75,000 9.58 February 13, 2024 February 12, 2034 0.26 50,000 9.63 0.21 6,786,254 8.12

Commitments and Contingencies I

Commitments and Contingencies Indemnification Agreements	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Indemnification Agreements	7. Commitments and Contingencies Indemnification Agreements In the ordinary course of business, the Company may provide indemnification of varying scope and terms to vendors, lessors, business partners, and other parties with respect to certain matters. In addition, the Company has entered into indemnification agreements with members of its board of directors that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, the Company has not incurred any material costs as a result of such indemnifications. The Company does not believe that the outcome of any claims under indemnification arrangements will have a material effect on its condensed consolidated financial position, results of operations, or cash flows, and it has not accrued any liabilities related to such obligations in its condensed consolidated financial statements as of June 30, 2024, and December 31, 2023. Litigation From time to time, the Company may be subject to claims and lawsuits arising in the normal course of business. The Company’s management believes that the outcome of any litigation or claims will not have a material effect on the Company’s condensed consolidated financial position, results of operations, or cash flows. On June 30, 2024, management was not aware of any material active, pending, or threatened litigation.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Forward Stock Split	Forward Stock Split On May 2, 2023, the Company effected a 3 for 1 forward stock split
Earnings Per Share	Earnings Per Share The weighted-average common shares outstanding for both basic and diluted earnings per share for all periods presented was calculated, in accordance with ASC 260, Earnings Per Share.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include but are not limited to, the applicability of accrued expenses. Estimates are periodically reviewed in light of changes in circumstances, facts, and experience. Actual results could differ from the Company’s estimates and those differences may be material.
Cash	Cash Cash amounts consist of cash on hand, bank deposits, and money market accounts. Cash equivalents consist of all liquid debt instruments with original maturities of three months or less. As of June 30, 2024, and December 31, 2023, the Company’s cash balances were $ 417,317 799,871 0 0
Value Added Tax (“VAT Tax”)	Value Added Tax (“VAT Tax”) The Company’s subsidiary historically has paid significant amounts of value-added tax (“VAT Tax”) to the Chilean government on certain operating purchases. The tax paid can be offset against future VAT Tax due. The Company has not recorded any VAT tax receivables as of June 30, 2024, and December 31, 2023, because the Company's ability to fund future expenditures necessary to recover VAT taxes paid in, is currently indeterminable.
Property and Equipment	Property and Equipment Property, plant and equipment are stated at cost less accumulated depreciation. Acquired property, plant and equipment are recognized at their estimated fair value. Capitalized costs may include computers, vehicles, furniture and fixtures, machinery, and equipment, and are depreciated using the straight-line method or unit-of-production method at rates sufficient to depreciate such costs over the shorter of estimated productive lives or the useful life of the individual assets. Useful lives range from 3 10 20 40 Gains and losses are reflected in income or expense upon sale or retirement of assets. Expenditures that extend the useful lives of property, plant and equipment or increase productivity are capitalized. Ordinary repairs and maintenance are expensed as incurred through operating expense. We periodically evaluate whether events or circumstances indicate that the net book value of our property, plant and equipment may not be recoverable. Capitalized interest, if applicable, is amortized over the estimated useful life of the assets. For the three-months ended June 30, 2023 and 2024, we capitalized interest expense of $- 0 0 0 0 Costs are capitalized when it has been determined an ore body can be economically developed. The development stage begins at new projects when our management and/or board of directors make the decision to bring a mine into commercial production and ends when the production state, or extraction of reserves, begins. The production stage of a mine commences when salable materials, beyond a de minimis amount, are produced. Exploration costs include those relating to activities carried out (a) in search of previously unidentified mineral deposits or (b) at undeveloped concessions. Pre-development activities involve costs incurred in the exploration stage that may ultimately benefit production and are expensed due to lack of evidence of economic development, which is necessary to demonstrate future recoverability of these expenses. Costs for exploration, evaluation, and pre-development, including drilling costs related to those activities (discussed further below), and repairs and maintenance on capitalized property and equipment are charged to operations as incurred. Drilling, development, and related costs are either classified as exploration, pre-development or secondary development as defined above, and charged to operations as incurred, or capitalized based on the following criteria: · whether the costs are incurred to further define mineralization at and adjacent to existing reserve areas or intended to assist with mine planning within a reserved area; · whether the drilling or development costs relate to an ore body that has been determined to be commercially mineable, and a decision has been made to put the ore body into commercial production; · whether, at the time the cost is incurred: (a) the expenditure embodies a probable future benefit that involves a capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflows, (b) we can obtain the benefit and control others’ access to it, and (c) the transaction or event giving risk to our right to or control of the benefit has already occurred. If all of these criteria are met, drilling, development and related costs are capitalized. Drilling and development costs not meeting all of these criteria are expensed as incurred. The following factors are considered in determining whether or not the criteria listed above have been met, and whether capitalization of drilling and development costs is appropriate: · Completion of a favorable economic study and mine plan for the ore body targeted; · authorization of development of the ore body by management and/or the board of directors; and · there is a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues and/or contractual requirements necessary for us to have the right to or control of the future benefit from the targeted ore body have been met. Drilling and related costs at our properties as of and for the six-months ended June 30, 2024, and June 30, 2023, respectively, and the three-months ended June 30, 2024, and June 30, 2023, respectively, did not meet our criteria for capitalization. When assets are retired or sold, the costs and related allowances for depreciation and amortization are eliminated from the accounts and any resulting gain or loss is reflected in the current period net income (loss).
Impairment of Long-lived Assets	Impairment of Long-lived Assets Long-lived assets consist of property and equipment. Long-lived assets to be held and used are tested for recoverability whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. Factors that the Company considers in deciding when to perform an impairment review include significant underperformance of the business in relation to expectations, significant negative industry or economic trends, and significant changes or planned changes in the use of the assets. If an impairment review is performed to evaluate a long-lived asset for recoverability, the Company compares forecasts of undiscounted cash flows expected to result from the use and eventual disposition of the long-lived asset to its carrying value. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use and eventual disposition of an asset are less than its carrying amount. The impairment loss would be based on the excess of the carrying value of the impaired asset over its fair value less cost to sell or dispose, determined based on discounted cash flows. During the six-months ended June 30, 2023 and 2024, we recorded no
Asset Retirement Obligations	Asset Retirement Obligations We record asset retirement obligations (“AROs”) at present value at the time the liability is incurred, if we can reasonably estimate the settlement date. The associated AROs are capitalized as part of the carrying amount of related long-lived assets. In future periods, the liability is accreted to its estimated fair value and the capitalized cost is depreciated over the useful life of the related asset. We also adjust the liability for changes resulting from the passage of time and/or revisions to the timing or the amount of the original estimate. Upon retirement of the long-lived asset, we either settle the obligation for its recorded amount or incur a gain or loss. The carrying amounts for the AROs for the three-months ended June 30, 2023 and 2024 are $- 0 0 0 0
Environmental Obligations	Environmental Obligations We provide for environmental-related obligations when they are probable and amounts can be reasonably estimated. Where the available information is sufficient to estimate the amount of liability, that estimate has been used. Included in our environmental liabilities are costs for the operation, maintenance and monitoring of site remediation plans (“OM&M”). Such reserves are based on our best estimates for these OM&M plans. Over time we may incur OM&M costs in excess of these reserves. However, we are unable to reasonably estimate an amount in excess of our recorded reserves because we cannot reasonably estimate the period for which such OM&M plans will need to be in place or the future annual cost of such remediation, as conditions at these environmental sites change over time. Such additional OM&M costs could be significant in total but would be incurred over an extended period of years. Environmental remediation charges represent the costs for continuing charges associated with environmental remediation at operating sites from previous years and from products that are no longer manufactured.
Leases	Leases The Company determines if an arrangement is a lease at the inception of the contract. If applicable, our operating leases are included in Operating lease right-of-use (“ROU”) assets, Operating lease liabilities – current, and Operating lease liabilities – long term in the condensed consolidated balance sheets. The operating lease ROU assets and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit interest rate, we utilize an estimated incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. In determining the discount rate used in the present value calculation, the Company has elected to apply the portfolio approach for leases provided the leases commenced at or around the same time. This election allows the Company to account for leases at a portfolio level provided that the resulting accounting at this level would not differ materially from the accounting at the individual lease level. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. If leases are applicable, the Company has elected not to separate lease and non-lease components and accounts for each separate lease component and non-lease component associated with that lease component as a single lease component. Operating lease ROU assets include all contractual lease payments and initial direct costs incurred less any lease incentives. Facility leases generally only contain lease expense and non-component items such as taxes and pass-through charges. Additionally, we have elected not to apply the recognition requirements of ASC 842 to leases which have a lease term of less than one year at the commencement date.
Mining Concessions	Mining Concessions Mining concessions are recorded at cost based on the payments required under the contracts. Amortization begins when placed in service after the mining concession is exercised. Mining concessions are amortized over their useful life based on the pattern over which the mining concessions are consumed or otherwise used up. Determination of expected useful lives for amortization calculations is made on a property-by-property or asset-by-asset basis at least annually. At the time an ore body can be economically developed, the basis of the mining concession will be amortized on a units-of-production basis. Pursuant to our policy on the impairment of long-lived assets, if it is determined that a mining concession cannot be economically developed or its innate value has not been independently substantiated, the basis of the mining concession is reduced to its fair value and an impairment loss is recorded to expense in the period in which it is determined to be impaired. Finite-lived intangible assets are tested for impairment when events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. Intangible assets that are not subject to amortization are tested for impairment annually and more frequently if events or changes in circumstances indicate that is more likely than not, meaning more than 50%, that the asset is impaired. The value of the exploitation mining concessions owned by Baltum has yet to be independently substantiated by a valuation or any level of feasibility study. As of June 30, 2024, and December 31, 2023, these mining concessions had a value of $- 0 0
Restructuring and Other Charges	Restructuring and Other Charges We continually perform strategic reviews and assess the returns on our businesses. In the event that this results in a plan to restructure the operations of our business, we record an accrual for severance and other exit costs under the provisions of the relevant accounting guidance. Additionally, in the event of restructuring plans, write-downs of long-lived assets may occur. Two types of assets are impacted: assets to be disposed of by sale and assets to be abandoned. Assets to be disposed of by sale are measured at the lower of carrying amount or estimated net proceeds from the sale. Assets to be abandoned with no remaining future service potential are written down to amounts expected to be recovered. The useful life of assets to be abandoned that have a remaining future service potential is adjusted and depreciation is recorded over the adjusted useful life.
Research and Development	Research and Development Research and development costs are expensed as incurred.
Foreign Currency	Foreign Currency The reporting currency of the Company is the U.S. dollar. The functional currency of Baltum, the Company’s wholly-owned subsidiary, is the Chilean Peso. The assets and liabilities of Baltum are translated into U.S. dollars based on exchange rates at the end of each reporting period. Expenses are translated at average exchange rates during the reporting period. Gains and losses arising from the translation of assets and liabilities are included as a component of accumulated other comprehensive income or loss within the Company’s condensed consolidated balance sheets. Gains and losses resulting from foreign currency transactions are reflected within the Company’s condensed consolidated statements of operations. Transactions denominated in foreign currency other than our functional currency of the foreign operation are recorded upon initial recognition at the exchange rate at the date of the transaction. After initial recognition, monetary assets and liabilities denominated in foreign currency are remeasured at each reporting date into the functional currency at the exchange rate at that date. The Company has not utilized foreign currency hedging strategies to mitigate the effect of its foreign currency exposure. We recorded transaction and remeasurement gains of $- 0 0 0 0
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the condensed consolidated financial statements or in the Company’s tax returns. Deferred taxes are determined based on the differences between the condensed consolidated financial statements and tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. Changes in deferred tax assets and liabilities are recorded in the provision for income taxes. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent it believes, based upon the weight of available evidence, that is more likely than not that all or a portion of the deferred tax assets will not be realized, a valuation allowance is established through a charge to income tax expense. The potential for recovery of deferred tax assets is evaluated by estimating the future taxable profits expected and considering prudent and feasible tax planning strategies. The Company’s wholly owned subsidiary is subject to foreign corporate tax in foreign taxing jurisdictions. We do not provide income taxes on the equity in undistributed earnings of condensed consolidated foreign subsidiaries as it is our intention that such earnings will remain invested in those companies. The Company accounts for income taxes in accordance with Accounting Standards Codification 740, “Accounting for Income Taxes” (“ASC 740”). Under ASC 740, income tax expense includes federal and state taxes currently payable and deferred taxes arising from temporary differences between income for financial reporting and income tax purposes. In accordance with ASC 740, the Company has evaluated its tax positions. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that has a likelihood of being realized on examination of more than 50 percent. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Under the “more likely than not” threshold guidelines, the Company believes no significant uncertain tax positions exist, either individually or in the aggregate, that would give rise to the non-recognition of an existing tax benefit. The Company’s policy is to account for interest expense and penalties related to unrecognized tax benefits as a component of income tax expense. The Company is currently not under examination with any federal, state, or foreign taxing authorities. In addition, the Company had no
Concentration of Credit Risk and of Significant Vendors	Concentration of Credit Risk and of Significant Vendors The Company maintains cash balances at financial institutions in the U.S. and Chile. The Company holds all cash balances at accredited financial institutions, in amounts that exceed federally insured limits in the United States of America. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements There are not any recently issued and adopted accounting pronouncements that have a material impact on the Company’s condensed consolidated financial statements as of June 30, 2024, and December 31, 2023.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	Schedule of property and equipment, net June 30, December 31, 2024 2023 Machinery and equipment $ 29,583 $ 29,583 Property and equipment, gross 29,583 29,583 Accumulated depreciation (26,625 ) (26,625 ) Property and equipment, net $ 2,958 $ 2,958

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Schedule of accrued expenses	Schedule of accrued expenses June 30, December 31, 2024 2023 Service fees $ 15,194 $ 8,127 Employee benefits 2,000 2,083 Other 425 676 Total accrued expenses $ 17,619 $ 10,886

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Description As of June 30, 2023 As of June 30, 2024 Expected dividend yield 0.00 0.00 Expected stock volatility (a) 62.97 67.20 Risk-free interest rate 4.034 5.027 Expected life of options (years) 3.00 5.00 3.00 5.00 Expected forfeiture rate 0.00 0.00 Grant date fair value per option $ 0.1024 0.1265 $ 0.1251 0.1679 (a) At the time of determination of expected stock volatility, the Company's securities were not currently trading on any stock exchange. The expected stock volatility was estimated using three public companies in the same industry as the Company. As the Company's securities are now trading on the OTCQB listing, future issuances will attempt to use the historical volatility of the Company to the extent that there is sufficient history and volume to produce a meaningful expected stock volatility value, otherwise, the same pre-public method using three comparable companies will be used until the history and volumes traded are sufficiently representative.
Schedule of changes in stock options outstanding	Schedule of changes in stock options outstanding Options Outstanding Number of Shares Weighted Average Exercise Price Balance, December 31, 2021 – n/a Issued 5,705,004 $ 0.20 Expired/Forfeited (93,750 ) $ 0.20 Exercised – n/a Balance, December 31, 2022 5,611,254 $ 0.20 Issued 1,050,000 0.26 Expired/Forfeited – n/a Exercised – n/a Balance, December 31, 2023 6,661,254 $ 0.21 Issued 125,000 0.26 Expired/Forfeited – n/a Exercised – n/a Balance, March 31, 2024 6,786,254 $ 0.21 Issued – n/a Expired/Forfeited – n/a Exercised – n/a Balance, June 30, 2024 6,786,254 $ 0.21
Schedule of options outstanding and exercisable	Schedule of options outstanding and exercisable Issue Date Expiry Date Exercise Price Number of Options Remaining Life May 24, 2022 May 23, 2032 0.20 4,931,250 7.90 June 1, 2022 May 31, 2032 0.20 80,004 7.93 July 15, 2022 July 14, 2032 0.20 450,000 8.05 July 28, 2022 July 27, 2032 0.20 150,000 8.08 July 1, 2023 June 30, 2033 0.26 750,000 9.01 July 7, 2023 July 6, 2033 0.26 300,000 9.02 January 25, 2024 January 24, 2034 0.26 75,000 9.58 February 13, 2024 February 12, 2034 0.26 50,000 9.63 0.21 6,786,254 8.12

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 210,134	$ 263,176	$ 275,722	$ 335,687	$ 473,310	$ 611,409
Accumulated deficit	32,973,548				32,973,548		$ 32,500,238
Cash balance	$ 417,317				$ 417,317		$ 799,871

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Basis of Presentation (Details Narrative) - USD ($)		3 Months Ended		6 Months Ended
	May 02, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Forward stock split	3 for 1 forward stock split
Cash balance		$ 417,317		$ 417,317		$ 799,871
Cash equivalents		0		0		0
Capitalized interest expense		0	$ 0
Capitalized interest expense				0	$ 0
Impairments				0	0
Carrying amount of asset retirement obligations		0	0	0	0
Mining concessions		0		0		$ 0
Foreign Currency Transaction Gain, before Tax		0	$ 0	0	$ 0
Unrecognized tax benefits		$ 0		$ 0
Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment useful lives		3 years		3 years
Minimum [Member] | Land, Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment useful lives		20 years		20 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment useful lives		10 years		10 years
Maximum [Member] | Land, Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment useful lives		40 years		40 years

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Machinery and equipment	$ 29,583	$ 29,583
Property and equipment, gross	29,583	29,583
Accumulated depreciation	(26,625)	(26,625)
Property and equipment, net	$ 2,958	$ 2,958

Property and Equipment, Net (_2

Property and Equipment, Net (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 0	$ 3,685	$ 0	$ 6,586

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Service fees	$ 15,194	$ 8,127
Employee benefits	2,000	2,083
Other	425	676
Total accrued expenses	$ 17,619	$ 10,886

Stockholders' Equity (Details -

Stockholders' Equity (Details - Assumptions) - $ / shares		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Expected dividend yield		0%	0%
Expected stock volatility	[1]	67.20%	62.97%
Risk-free interest rate		5.027%	4.034%
Expected forfeiture rate		0%	0%
Minimum [Member]
Expected life of options (years)		3 years	3 years
Grant date fair value per option		$ 0.1251	$ 0.1024
Maximum [Member]
Expected life of options (years)		5 years	5 years
Grant date fair value per option		$ 0.1679	$ 0.1265
[1]At the time of determination of expected stock volatility, the Company's securities were not currently trading on any stock exchange. The expected stock volatility was estimated using three public companies in the same industry as the Company.  As the Company's securities are now trading on the OTCQB listing, future issuances will attempt to use the historical volatility of the Company to the extent that there is sufficient history and volume to produce a meaningful expected stock volatility value, otherwise, the same pre-public method using three comparable companies will be used until the history and volumes traded are sufficiently representative.

Stockholders' Equity (Details_2

Stockholders' Equity (Details - Option activity) - $ / shares	3 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Options outstanding number of shares, Beginning balance	6,786,254	6,661,254	5,611,254	0
Weighted average exercise price, Beginning balance	$ 0.21	$ 0.21	$ 0.20
Options outstanding number of shares issued	0	125,000	1,050,000	5,705,004
Weighted average exercise price, Options issued		$ 0.26	$ 0.26	$ 0.20
Options outstanding number of shares expired/forfeited	0	0	0	(93,750)
Weighted average exercise price, Options expired/forfeited				$ 0.20
Options outstanding number of shares exercised	0	0	0	0
Options outstanding number of shares, Ending balance	6,786,254	6,786,254	6,661,254	5,611,254
Weighted average exercise price, Ending balance	$ 0.21	$ 0.21	$ 0.21	$ 0.20

Stockholders' Equity (Details_3

Stockholders' Equity (Details - Options outstanding and exercisable) - $ / shares	6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Option exercise price	$ 0.21	$ 0.21	$ 0.21	$ 0.20
Number of options outstanding	6,786,254	6,786,254	6,661,254	5,611,254	0
Remaining life	8 years 1 month 13 days
Options Issued May 24, 2022 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Option issue date	May 24, 2022
Option expiry date	May 23, 2032
Option exercise price	$ 0.20
Number of options outstanding	4,931,250
Remaining life	7 years 10 months 24 days
Options Issued June 1, 2022 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Option issue date	Jun. 01, 2022
Option expiry date	May 31, 2032
Option exercise price	$ 0.20
Number of options outstanding	80,004
Remaining life	7 years 11 months 4 days
Options Issued July 15, 2022 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Option issue date	Jul. 15, 2022
Option expiry date	Jul. 14, 2032
Option exercise price	$ 0.20
Number of options outstanding	450,000
Remaining life	8 years 18 days
Options Issued July 28, 2022 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Option issue date	Jul. 28, 2022
Option expiry date	Jul. 27, 2032
Option exercise price	$ 0.20
Number of options outstanding	150,000
Remaining life	8 years 29 days
Options Issued July 1, 2023 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Option issue date	Jul. 01, 2023
Option expiry date	Jun. 30, 2033
Option exercise price	$ 0.26
Number of options outstanding	750,000
Remaining life	9 years 3 days
Options Issued July 7, 2023 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Option issue date	Jul. 07, 2023
Option expiry date	Jul. 06, 2033
Option exercise price	$ 0.26
Number of options outstanding	300,000
Remaining life	9 years 7 days
Options Issued January 25, 2024 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Option issue date	Jan. 25, 2024
Option expiry date	Jan. 24, 2034
Option exercise price	$ 0.26
Number of options outstanding	75,000
Remaining life	9 years 6 months 29 days
Options Issued February 13, 2024 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Option issue date	Feb. 13, 2024
Option expiry date	Feb. 12, 2034
Option exercise price	$ 0.26
Number of options outstanding	50,000
Remaining life	9 years 7 months 17 days

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - USD ($)										3 Months Ended			6 Months Ended		12 Months Ended
	Feb. 13, 2024	Jan. 25, 2024	Jul. 07, 2023	Jul. 01, 2023	May 02, 2023	Jul. 28, 2022	Jul. 15, 2022	Jun. 01, 2022	May 24, 2022	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Jun. 29, 2023	Apr. 26, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Preferred stock, shares issued										0			0		0
Preferred stock, shares outstanding										0			0		0
Common stock, shares authorized										100,000,000			100,000,000		100,000,000
Common stock, par value										$ 0.0001			$ 0.0001		$ 0.0001
Common stock, shares issued										43,502,145			43,502,145		43,285,716
Common stock, shares outstanding										43,502,145			43,502,145		43,285,716
Stock-based compensation expenses													$ 81,122	$ 179,617
Proceeds from issuance of common stock													$ 0	1,100,000
Forward stock split					3 for 1 forward stock split
Number of options outstanding										6,786,254	6,786,254		6,786,254		6,661,254	5,611,254			0
Options granted, shares										0	125,000				1,050,000	5,705,004
Options granted, exercise price											$ 0.26				$ 0.26	$ 0.20
Unamortized stock option expense										$ 89,664			$ 89,664
Officers Managers Advisors And Directors [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted, shares									5,025,000
Options granted, exercise price									$ 0.20
Option terms of award									The options vest quarterly starting on June 30, 2022, for 25% of the granted shares and then the remainder in equal installments over a one-and-one-half-year period and expire in 10 years from the date of the grant.
An Advisor [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted, shares								80,004
Options granted, exercise price								$ 0.20
Option terms of award								The options vest quarterly in equal installments over a one-year period and expire in 10 years from the date of grant.
An Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted, shares							450,000
Options granted, exercise price							$ 0.20
Option terms of award							The options vest quarterly starting on September 30, 2022, for 25% of the granted shares and then the remainder in equal installments over a three-quarter year period and expire in 10 years from the date of grant.
Advisory Board [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted, shares	50,000	75,000
Options granted, exercise price	$ 0.26	$ 0.26
Option terms of award	The options vest quarterly starting on March 31, 2024, for 25% of the granted shares and then the remainder in equal installments at each quarter-end through the end of 2024 and expire in 10 years from the date of grant.	The options vest quarterly starting on March 31, 2024, for 25% of the granted shares and then the remainder in equal installments at each quarter-end through the end of 2024 and expire in 10 years from the date of grant.
Equity Incentive Plan 2022 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares purchased																		5,850,000
Number of options outstanding										5,611,254			5,611,254
Equity Incentive Plan 2023 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options outstanding										1,175,000			1,175,000
Common Stock were reserved for issuance																	1,963,746
Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expenses										$ 26,494		$ 89,468	$ 52,986	$ 179,617
Stock options intrinsic value										$ 7,055,067			$ 7,055,067
Closing price										$ 1.25			$ 1.25
Vendor [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock issued for services, shares													216,429
Share price										$ 0.26			$ 0.26
Stock issued for services, value													$ 56,272
Stock-based compensation expenses													$ 28,136
Investors [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock issued new, shares														4,285,716
Proceeds from issuance of common stock														$ 1,100,000
Investors [Member] | Stock To Be Issued [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock issued new, shares														409,092
Stock to be issued, value												$ 105,000		$ 105,000
Investors [Member] | Issued For Cash [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock issued new, shares														3,876,624
Proceeds from issuance of common stock														$ 995,000
Officer Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted, shares						150,000
Options granted, exercise price						$ 0.20
Option terms of award						The options vest quarterly starting on September 30, 2022, for 12.5 % of the granted shares and then the remainder in equal installments over a one-and-three-quarter-year period and expire in 10 years from the date of grant.
Officers Management And Directors [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted, shares				750,000
Options granted, exercise price				$ 0.26
Option terms of award				The options vest quarterly starting on October 1, 2023, in equal installments over a two-year period and expire in 10 years from the date of grant.
Directors [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options granted, shares			300,000
Options granted, exercise price			$ 0.26
Option terms of award			The options vest quarterly starting on October 1, 2023, for 12.5% of the granted shares and then the remainder in equal installments over a one-and-one-half-year period and expire in 10 years from the date of grant.