Property, Plant, and Equipment

3 Months Ended

Mar. 31, 2012

Property, Plant, and Equipment [Text Block]

6. Property, Plant, and Equipment

Property, plant and equipment at March 31, 2012 and December 31, 2011, consisted of the following:

		March 31, 2012			December 31,2011
Mill land at cost	$	225,289		$	225,289
Mill building at cost		519,067			430,118
Milling equipment at cost		3,266,731			2,802,925
Less accumulated depreciation		(80,385	)		(80,385	)
Total mill		3,930,702			3,377,947

Building and equipment at cost		771,419			771,419
Less accumulated depreciation		(472,313	)		(441,308	)
Total building and equipment		299,106			330,111

Land		259,409			259,409

Total	$	4,489,217		$	3,967,467

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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