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Statement of Cash Flows (USD $)
6 Months Ended 191 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Cash flows from operating activities:      
Net income (loss) $ (467,546) $ (2,119) $ (7,704,110)
Adjustments to reconcile net loss to net cash provided (used) by operating activities:      
Depreciation and amortization 63,923 33,833 887,636
(Gain) loss on sale of equipment 0 (12,895) (36,721)
Write-off of goodwill and investment 0 0 120,950
Gain on sale of mineral property 0 0 (281,334)
Gain on sale of marketable equity security 0 0 (92,269)
Accretion of asset retirement obligation 576 1,736 8,383
Equity in loss of Golden Chest LLC 714,793 0 714,793
Common stock issued for:      
Management and directors' fees 0 0 1,169,335
Services and other 0 0 255,874
Exploration 0 0 96,521
Mineral property agreement 0 0 15,000
Change in:      
Deposits 44,280 0 0
Inventory (175) (1,061) (18,586)
Joint venture receivables 1,572 (138,970) (130,144)
Other current assets 47,200 11,967 (8,242)
Other assets 0 0 (778)
Accounts payable (18,400) 248,264 119,404
Accrued payroll and related payroll expense (9,332) 45,787 45,035
Accounts payable related party joint venture 78,259 27,848 78,259
Accrued reclamation costs 0 0 (1,443)
Net cash provided (used) by operating activities 455,150 214,390 (4,762,437)
Cash flows from investing activities:      
Purchases of property, plant and equipment (1,019,889) (1,238,808) (4,372,432)
Deposit on equipment purchase 0 (419,458) 0
Purchase (sales) of mineral property 0 0 (3,904)
Proceeds from sale of mineral property 0 0 240,000
Deposit received on sale of mineral property 0 0 320,000
Contribution to Golden Chest LLC (695,000) 0 (695,000)
Proceeds from sale of equipment 0 12,676 49,174
Redemption (purchase) of reclamation bonds 0 (110) (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 (1,714,889) (1,645,700) (5,215,201)
Cash flows from financing activities:      
Exercise of stock purchase warrants 0 0 2,571,536
Sales of common stock, net of issuance costs 0 5,000 5,246,236
Principle payments on capital lease (15,392) (6,751) (227,901)
Principle payments on notes payable (52,690) (44,669) (543,000)
Note and interest payable, related party, net 37,638 1,500 39,138
Contributions from noncontrolling equity interest in Mill JV 829,609 1,671,347 3,044,044
Net cash provided by financing activities 799,165 1,626,427 10,130,053
Net change in cash and cash equivalents (460,574) 195,117 152,415
Cash and cash equivalents, beginning of period 612,989 357,317 0
Cash and cash equivalents, end of period 152,415 552,434 152,415
Supplemental disclosure of cash flow information      
Interest paid in cash, net of amount capitalized 0 6,176 93,986
Non-cash investing and financing activities:      
Capital lease obligation incurred for equipment acquired 0 0 275,838
Notes payable for property and equipment acquired 0 401,763 884,397
Mineral property transferred to Golden Chest LLC 0 0 553,205
Debt relieved from sale of truck 0 2,785 2,785
Common stock issued for:      
Property, plant and equipment 0 0 50,365
Mineral properties agreement 0 0 351,600
Payment of accounts payable 0 0 18,730
Acquisitions of companies, excluding cash $ 0 $ 0 $ 743,653