Mineral Rights and Properties |
9 Months Ended | |||||||||||||||||||||||||||||||||
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Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||
| Extractive Industries [Abstract] | ||||||||||||||||||||||||||||||||||
| Mineral Rights and Properties |
As of September 30, 2026, the Company held patented mineral and surface rights in Montana, USA. These mineral and surface rights were acquired through asset acquisitions during 2023, 2024, and 2025. The Company is required to make annual property tax payments of approximately $13,000 to maintain these properties.
Goldsmith Block In February 2025, the Company closed a purchase from a third party for certain patented mining claims known as the Goldsmith Block, for a purchase price of $1,006,851.
Ferry Lane In September 2023, the Company entered into a Definitive Agreement, amended November 15, 2023 and January 15, 2024, for the acquisition of all of the outstanding shares of Ferry Lane (“FL”), a British Virgin Islands corporation. Subsequent to the FL acquisition, several disagreements and legal actions arose in relation to the acquisition. To settle these claims, the Company entered into an Asset Purchase and Release Agreement with Lane F Holdings LLC (“Lane F”) on September 19, 2024 for consideration of $3,065,000. As a result, all pending litigation and arbitration actions were dismissed.
On April 30, 2025, the stated value of the Lane F promissory note was $3,065,000, which Lane F elected to receive $750,000 in cash and $50,000 as a reimbursement of costs (“cash component”), with the remaining balance in shares to be issued valued at $ per share. Of the cash component, $250,000 was paid on April 30, 2025 and $50,000 was paid on April 25, 2025. Total common shares of , valued at $, were issued on July 1, 2025 while final payment of the cash component of the $500,000, including accrued interest of $12,491, was made on July 14, 2025.
Great Republic On January 23, 2026, the Company acquired approximately 805 acres of surface lands and approximately 846 acres of mineral rights on property contiguous with the Goldsmith Block, referred to as the “Great Republic” block. The purchase was structured with an initial $570,425 down payment upon execution, including costs, followed by three annual $500,000 installments plus 3% annual accrued interest in January 2027, 2028 and 2029, concluding with a final balloon payment of $2,500,000 plus any remaining accrued interest by January 23, 2030.
As of September 30, 2026 and December 31, 2025, the activity of these mineral rights and properties was as follows:
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