XML 23 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statement of Operations (USD $)
3 Months Ended 188 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
Income earned during the development stage:      
Sales of gold $ 0 $ 0 $ 437,122
Sales of concentrate 0 0 601,168
Drilling and exploration contract income 413,044 183,836 2,015,304
Joint venture management fee income 23,242 14,035 102,273
Engineering services income 39,900 32,700 203,723
Total income earned during the development stage 476,186 230,571 3,359,590
Costs and expenses:      
Direct production costs 3,071 544 1,336,279
Drilling and exploration contract expense 229,886 108,997 1,079,431
Engineering services expense 9,750 0 61,841
Management 12,443 24,228 1,928,982
Exploration 584 2,813 2,419,665
Net loss (gain) on sale of or default on mineral property 0 0 (281,398)
Net gain on sale of equipment 0 (12,895) (47,993)
Depreciation and amortization 31,005 14,687 854,718
General and administrative expenses 111,746 102,265 3,196,762
Total operating expenses 398,485 240,639 10,548,287
Other (income) expense:      
Timber sales 0 0 (54,699)
Timber expense 0 0 14,554
Royalties and other income (3,000) (8,612) (108,445)
Royalties expense 0 0 44,089
Gain on sale of marketable equity security 0 0 (92,269)
Interest income (217) (358) (49,117)
Interest expense 0 1,522 91,887
Write off of goodwill and investment 0 0 120,950
Equity in loss of Golden Chest LLC 403,940 0 403,940
Total other (income) expense 400,723 (7,448) 370,890
Net loss 323,022 2,620 7,559,587
Net loss attributable to non controlling interest-Mill JV 702 0 3,513
Net loss attributable to the Company 322,320 2,620 7,556,074
Income tax (provision) benefit 0 0 0
Other comprehensive (income) loss:      
Unrealized (gain) loss on marketable equity security 193 9,672 (15,281)
Comprehensive loss $ 322,513 $ 12,292 $ 7,540,793
Net loss per common share-basic $ 0.01    $ 0.32
Weighted average common shares outstanding-basic 45,302,862 45,017,862 23,675,669