• Filing Date: 2017-03-31
  • Form Type: 10-K
  • Description: Annual report
v3.7.0.1
16. Business Segments
12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Business Segments

The Company is currently organized and managed by four segments, which represent the three operating units: United States antimony operations, Mexican antimony operations and United States zeolite operations, and separate segment for revenue received from the sale of precious metals recovered from the antimony process. The Company’s precious metals segment was added as a new reporting segment in 2016. The precious metals activity has been reclassified from the antimony segment for 2015. The Company’s Other operating costs include general and administrative expenses, freight and delivery, and other non-production related costs. Other income and expense consists primarily of interest income and expense and factoring expense.

 

The Madero smelter and Puerto Blanco mill at the Company’s Mexico operation brings antimony up to an intermediate stage, which is then shipped to the United States operation for finishing and sales at the Thompson Falls, Montana plant. The Zeolite operation produces Zeolite near Preston, Idaho. Almost all of the sales of products from the United States antimony and Zeolite operations are to customers in the United States. Precious metal revenues are from sales to customers in the United States and Canada.

 

Segment disclosures regarding sales to major customers and for property, plant, and equipment are located in Notes 2 and 6, respectively.

 

Properties, plants    December 31,     December 31,  
  and equipment, net:     2016       2015  
Antimony            
United States   $ 1,892,103     $ 1,937,402  
Mexico     12,331,310       12,539,805  
Subtotal Antimony     14,223,413       14,477,207  
Zeolite     1,472,553       1,553,126  
   Total   $ 15,695,966     $ 16,030,333  
                 

 

Total Assets:  

December 31,

2016

   

December 31,

2015

 
Antimony            
United States   $ 2,693,614     $ 2,676,263  
Mexico     13,027,952       13,400,895  
Subtotal Antimony     15,721,566       16,077,158  
Zeolite     2,044,432       2,183,043  
   Total   $ 17,765,998     $ 18,260,201  

 

 

    For the year ended     For the year ended  
Capital expenditures:  

December 31,

2016

   

December 31,

2015

 
Antimony            
United States   $ 36,028     $ 33,028  
Mexico     496,046       3,435,002  
Subtotal Antimony     532,074       3,468,030  
Zeolite     133,296       196,238  
   Total   $ 665,370     $ 3,664,268  

 

Segment Operations for the   Antimony     Antimony     Precious     Bear River        
Year ended December 31, 2016   USA     Mexico     Metals     Zeolite     Totals  
                               
Total revenues   $ 8,740,602     $ 3,568     $ 672,871     $ 2,473,094     $ 11,890,135  
                                         
Depreciation and amortization     81,328       704,541       -       213,868       999,737  
                                         
Income (loss) from operations     4,048,193       (5,109,734 )     -       245,019       (816,522 )
                                         
Income tax expense     (13,090 )     (285,048 )     -       -       (298,138 )
                                         
Other income (expense)     (34,262 )     (149,165 )     -       (11,113 )     (194,540 )
                                         
NET INCOME (LOSS)   $ 2,859,972     $ (5,133,439 )   $ 672,871     $ 233,907     $ (1,309,200 )

 

Segment Operations for the   Antimony     Antimony     Precious     Bear River        
Year ended December 31, 2015   USAC     Mexico     Metals     Zeolite     Totals  
                               
Total revenues   $ 9,856,398     $ 7,535     $ 491,426     $ 2,753,644     $ 13,109,003  
                                         
Depreciation and amortization     61,819       649,526       -       221,441       932,786  
                                         
Income (loss) from operations     4,990,865       (6,311,265 )     -       511,403       (808,997 )
                                         
Other income (expense):     (24,280 )     -       -       (5,255 )     (29,534 )
                                         
NET INCOME (LOSS)   $ 4,475,160     $ (6,311,265 )   $ 491,426     $ 506,148     $ (838,531 )