The cost and carrying value of mineral property interests, plant and equipment at June 30, 2026 and December 31, 2025 was as follows:


	June 30, 2026			December 31, 2025
Mineral property interests, cost
Mining concessions	$	4,132,678		$	4,132,678
Mine development		13,875,488			8,911,872
Subtotal	$	18,008,166		$	13,044,550
Less: accumulated depletion		(1,756,514	)		(964,295	)
Mineral property interests, carrying value	$	16,251,652		$	12,080,255

Plant and equipment, cost
Construction in progress	$	416,528		$	542,000
Plant and equipment		2,834,380			2,228,651
Other		2,654,124			2,587,966
Subtotal		5,905,032			5,358,617
Less: Accumulated depreciation and amortization		(327,464	)		(130,549	)
Plant and equipment, carrying value	$	5,577,568		$	5,228,068

Mineral property interests, plant and equipment, carrying value	$	21,829,220		$	17,308,323

Mineral properties totaled $16,251,652 as of June 30, 2026 and included capitalized development costs of $4,963,616 during the period ended June 30, 2026, compare to a mineral properties total of $12,080,255 as of December 31, 2025, and included capitalized development cost of $8,911,872 during the period ended December 31, 2025. Depletion expense during the six months ended June 30, 2026 and 2025, was $792,219 and $386,009, respectively.

Depreciation and amortization are recorded over each asset’s estimated useful life. Depreciation and amortization expense was $193,095 and $22,528 for the six months ended June 30, 2026 and 2025, respectively.