v3.26.1
Notes Payable
12 Months Ended
Dec. 31, 2025
Notes Payable  
Notes Payable

6. Notes Payable

 

At December 31, 2025 and 2024, notes payable are as follows:

 

 

 

2025

 

 

2024

 

Mine Equipment

Weighted average interest rate of 7.30%, and weighted average remaining term of 2.5 years as of December 31, 2025

 

$1,581,098

 

 

$962,384

 

Mill Equipment

Weighted average interest rate of 8.05%, and weighted average remaining term of 3.4 years as of December 31, 2025

 

 

535,766

 

 

 

540,773

 

Buildings/Land

Weighted average interest rate of 7.00%, and weighted average remaining term of 1.4 years as of December 31, 2025

 

 

214,520

 

 

 

229,582

 

Total notes payable

 

 

2,331,384

 

 

 

1,732,739

 

Due within one year

 

 

1,029,336

 

 

 

709,381

 

Due after one year

 

$1,302,048

 

 

$1,023,358

 

 

All notes are collateralized by the property or equipment purchased in connection with each note. Future principal payments of notes payable at December 31, 2025 are as follows:

 

2026

 

$1,029,336

 

2027

 

 

738,312

 

2028

 

 

266,533

 

2029

 

 

199,696

 

2030

 

 

97,507

 

Total

 

$2,331,384