NOTE 7 INVENTORIES

Inventories as at March 31, 2025, and December 31, 2024, consisted of the following:

​

​

During the three months ended March 31, 2024, inventories at Fox Complex and Gold Bar operations were written down by $0.8 and $nil, respectively to their estimated net realizable values. Of these write-downs, a total of $0.6 million was included in production costs applicable to sales and $0.2 million was included in depreciation and depletion in the Statement of Operations. The Company did not have any inventory write-downs during the three months ended March 31, 2025.