| Schedule of Property, Plant & Equipment and Mineral Properties, Net |
The Company’s property, plant & equipment
and mineral properties, net and kinetic separation intellectual property are:
| | | Estimated
Useful Lives | | As of
September 30,
2025 | | | As of
December 31,
2024 | | | Mineral properties | | N/A | | $ | 11,688,841 | | | $ | 11,688,841 | | | Mining equipment | | 5 years | | | 3,479,734 | | | | 3,260,879 | | | Vehicles | | 5 years | | | 1,056,720 | | | | 1,094,297 | | | Plant facilities | | 5 - 10 years | | | 281,959 | | | | 207,490 | | | Software | | 5 years | | | 9,120 | | | | 9,120 | | | Construction in progress | | N/A | | | 144,573 | | | | 36,343 | | | Land | | N/A | | | 2,334,050 | | | | 2,334,050 | | | Total property, plant & equipment and mineral properties | | | | $ | 18,994,997 | | | $ | 18,631,020 | | | Less: accumulated depreciation | | | | | 1,522,766 | | | | 928,451 | | | Property, plant & equipment and mineral properties, net | | | | $ | 17,472,231 | | | $ | 17,702,569 | | | Kinetic separation intellectual property | | | | $ | 9,488,051 | | | $ | 9,488,051 | |
|
| Schedule of Asset Retirement Obligation Activity |
Asset retirement obligation activity consists of:
| | |
For the Nine Months Ended
September 30, | |
| | |
2025 | | |
2024 | |
| Beginning balance at January 1 | |
$ | 410,098 | | |
$ | 316,619 | |
| Addition | |
| 6,713 | | |
| - | |
| Adjustment to asset retirement obligations | |
| (19,307 | ) | |
| 12,154 | |
| Accretion | |
| 13,065 | | |
| 9,164 | |
| Ending Balance at September 30 | |
$ | 410,569 | | |
$ | 337,937 | |
| Less: Asset retirement obligations, current portion | |
| 75,057 | | |
| 75,057 | |
| Asset retirement obligations, net of current portion | |
$ | 335,512 | | |
$ | 262,880 | |
|