v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net income $ 16,631,198 $ 8,753,377
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,338,100 1,953,388
Accretion of asset retirement obligation 20,042 18,761
Loss on disposal of equipment 343,945 1,431
Unrealized (gain) on investment in equity securities and mutual funds (110,092) 0
Loss on investment in equity securities 0 453
Equity income on investment in Buckskin Gold and Silver, Inc. (3,646) (2,667)
Write down of reclamation bond 0 300
Stock-based compensation 1,505,244 0
Amortization of discount on US treasury notes 37,197 2,080
Deferred tax expense 91,700 0
Change in operating assets and liabilities:    
Gold sales receivable (2,334,228) (539,827)
Inventories (65,188) (23,243)
Joint venture receivable (9,868) (812)
Other current assets (420,792) (141,632)
Accounts payable and accrued expenses 898,511 521,857
Accrued payroll and related payroll expenses (154,878) 297,420
Income taxes payable 334,446 0
Net cash provided by operating activities 19,101,691 10,840,886
Cash flows from investing activities:    
Purchases of property, plant, and equipment (6,714,393) (2,219,147)
Proceeds from sale of equipment 66,155 6,372
Deposits on equipment (945,786) (1,178,185)
Additions to mineral properties (5,096,281) (2,392,822)
Purchase of mineral property (300,000) 0
Purchase of reclamation bonds (106,110) (5,000)
Refund of reclamation bonds 0 6,900
Purchase of US treasury notes (51,759,798) (17,465,887)
Maturity of US treasury notes 11,375,000 2,479,684
Proceeds from sale of investment in equity securities 0 5,196
Purchase of equity securities (4,026,781) 0
Purchase of mutual funds (3,950,145) 0
Net cash used by investing activities (61,458,139) (20,762,889)
Cash flows from financing activities:    
Proceeds from sale of common stock, net of issuance costs 52,027,149 9,120,521
Proceeds from issuance of common stock for warrants exercised 0 1,695,047
Proceeds from issuance of common stock for stock options exercised 236,310 280,011
Principal payments on notes payable (1,152,880) (2,382,434)
Contributions from non-controlling interest 28,733 28,760
Net cash provided by financing activities 51,139,312 8,741,905
Net change in cash and cash equivalents 8,782,864 (1,180,098)
Cash and cash equivalents, beginning of year 1,106,901 2,286,999
Cash and cash equivalents, end of year 9,889,765 1,106,901
Non-cash investing and financing activities:    
Deposit on equipment applied to purchase 654,919 895,597
Notes payable for equipment 2,615,677 1,148,521
Note payable for mineral property 0 650,000
Note payable assumed by 3rd party 792,779 0
Principal payments on notes payable paid by 3rd party $ 71,373 $ 0