XML 36 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statement of Cash Flows (USD $)
 12 Months Ended 185 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Cash flows from operating activities:      
Net income (loss) $ 77,310 $ (540,828) $ (7,236,564)
Adjustments to reconcile net loss to net cash provided (used) by operating activities:      
Depreciation and amortization 93,934 59,687 823,714
(Gain) loss on sale of equipment (12,895) (35,098) (36,722)
Write-off of goodwill and investment 0 0 120,950
Loss (gain) on sale of mineral property 128,666 (50,000) (281,334)
Gain on sale of marketable equity security 0 0 (92,269)
Accretion of asset retirement obligation 2,892 3,472 7,807
Operating common stock issued for:      
Management and directors' fees 30,000 30,000 1,169,335
Services and other 16,040 17,426 255,874
Exploration 1,000 0 96,521
Mineral property agreement 0 0 15,000
Change in:      
Deposits (44,280) 0 (44,280)
Inventory (2,029) (14,549) (18,411)
Joint venture receivables (119,803) (11,913) (131,716)
Other current assets (40,050) 4,410 (55,442)
Other assets 0 0 (778)
Accounts payable 85,084 (19,376) 137,806
Accrued payroll and related payroll expense 38,381 8,827 54,367
Accrued reclamation costs 0 0 (1,443)
Net cash provided (used) by operating activities 254,250 (547,942) (5,217,585)
Cash flows from investing activities:      
Purchases of property, plant and equipment (2,247,252) (21,043) (3,352,543)
Purchase (sales) of mineral property 20,000 (3,000) (3,904)
Proceeds from sale of mineral property 120,000 0 240,000
Deposit received on sale of mineral property 0 0 320,000
Proceeds from sale of equipment 12,676 36,498 49,174
Redemption (purchase) of reclamation bonds 633 (45) (120,500)
Purchase of marketable equity security 0 0 (7,500)
Proceeds from sales of marketable equity securities 0 0 95,901
Cash of acquired companies 0 0 38,269
Deferral of development costs 0 0 (759,209)
Net cash provided (used) by investing activities (2,093,943) 12,410 (3,500,312)
Cash flows from financing activities:      
Exercise of stock purchase warrants 0 33,936 2,571,536
Sales of common stock, net of issuance costs 5,000 980,160 5,246,236
Principal payments on capital lease (17,745) (11,268) (212,510)
Principal payments on notes payable (107,825) (71,959) (490,311)
Note and interest payable, related party, net 1,500 (72,107) 1,500
Contributions from noncontrolling equity interest in Mill JV 2,214,435 0 2,214,435
Net cash provided by financing activities 2,095,365 858,762 9,330,886
Net change in cash and cash equivalents 255,672 323,230 612,989
Cash and cash equivalents, beginning of period 357,317 34,087 0
Cash and cash equivalents, end of period 612,989 357,317 612,989
Supplemental disclosure of cash flow information      
Interest paid in cash, net of amount capitalized 0 10,383 79,867
Common stock issued for:      
Property, plant and equipment 0 0 50,365
Mineral properties agreement 0 18,000 351,600
Payment of accounts payable 6,000 525 18,730
Acquisitions of companies, excluding cash 0 0 743,653
Capital lease obligation incurred for equipment acquired 91,625 5,625 275,838
Notes payable for property and equipment acquired 401,763 0 884,397
Mineral property transferred to Golden Chest LLC 0 553,205 553,205
Debt relieved from sale of truck $ 2,785 $ 0 $ 2,785