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7. Asset Retirement Obligation
 12 Months Ended
Dec. 31, 2013
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation

During 2011, the Company assessed the obligation for removal and remediation costs relating to its plants and mine in Mexico.  Management assigned a cost to the expected work involved in complying with the requirements of the Mexico operating permits.  Management applied, based on a 20 year life, a cost inflation factor, and then discounted that cost to a current net present value based on a discount rate of 6% (management’s estimate of its credit-adjusted interest rate). Management determined a future cost in 2031 of approximately $430,000 with a net present value of $134,000.

 

   Balance December 31, 2010   $ -  
   Incurred during 2011     134,000  
   Balance December 31, 2011     134,000  
   Accretion during 2012     8,040  
   Balance December 31, 2012     142,040  
   Accretion during 2013     8,040  
   Balance December 31, 2013   $ 150,080  

 

The asset retirement obligation liability is combined with reclamation obligations for Idaho and Montana operations of $107,500 at December 31, 2013.