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7. Asset Retirement Obligation | 12 Months Ended
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Dec. 31, 2014
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). During 2011, management determined a future cost in 2031 of approximately $430,000 with a net present value of $134,000.
Asset Retirement Obligation |  |  |  |
Balance December 31, 2011 |  | $ | 134,000 |
Accretion |  |  | 8,040 |
Balance December 31, 2012 |  |  | 142,040 |
Accretion |  |  | 8,040 |
Balance December 31, 2013 |  |  | 150,080 |
Accretion |  |  | (2,390) | (1)
Balance December 31, 2014 |  | $ | 147,690 |
The Company’s total asset retirement obligation and accrued reclamation costs of $255,190 and $257,580 at December 31, 2014 and 2013, respectively include reclamation obligations for Idaho and Montana operations of $107,500. (1) During 2014, an adjustment was made to correct immaterial excess accretion expense recognized in 2013 and 2012.

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- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7569-110849 + Details
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