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Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) (USD $)
3 Months Ended 9 Months Ended 194 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Income earned during the development stage:          
Sales of gold $ 0 $ 0 $ 0 $ 0 $ 437,122
Sales of concentrate 0 0 0 0 601,168
Drilling and exploration contract income 0 456,409 769,084 863,745 2,371,344
Joint venture management fee income 2,049 24,583 43,074 56,320 122,105
Mill processing fee income 20,145 0 21,174 0 21,174
Engineering services income 0 21,150 68,700 90,700 232,522
Total income earned during the development stage 22,194 502,142 902,032 1,010,765 3,785,435
Costs and expenses:          
Direct production costs (940) 4,591 6,885 8,398 1,340,093
Drilling and exploration contract expense 318 226,987 348,078 474,673 1,197,623
Engineering servicing expense 0 0 19,500 0 71,591
Management 16,553 24,121 39,284 73,004 1,955,823
Exploration 3,155 2,446 4,069 9,745 2,423,150
Net loss (gain) on sale of or default on mineral property 0 0 0 0 (281,398)
Net gain on sale of equipment 0 0 0 (12,895) (47,993)
Depreciation and amortization 58,774 30,527 122,697 64,360 946,410
General and administrative expenses 37,527 92,692 213,753 280,830 3,298,769
Total operating expenses 115,387 381,364 754,266 898,115 10,904,068
Operating income (loss) (93,193) 120,778 147,766 112,650 (7,118,633)
Other (income) expense:          
Timber sales 0 0 0 0 (54,699)
Timber expense 0 0 0 0 14,554
Royalties and other income (2,000) (3,000) (8,000) (14,624) (113,445)
Royalties expense 0 0 0 0 44,089
Gain on sale of marketable equity security 0 0 0 0 (92,269)
Interest income (89) (137) (376) (697) (49,278)
Interest expense 8,779 7,943 8,779 14,119 100,667
Write off of goodwill and investment 0 0 0 0 120,950
Equity in loss of Golden Chest LLC 40,647 0 755,439 0 755,439
Total other (income) expense 47,337 4,806 755,842 (1,202) 726,008
Net income (loss) (140,530) 115,972 (608,076) 113,852 (7,844,641)
Net loss attributable to noncontrolling interest-Mill JV 10,335 703 12,234 2,108 15,044
Net income (loss) attributable to the Company (130,195) 116,675 (595,842) 115,960 (7,829,597)
Other comprehensive income (loss):          
Unrealized gain (loss) on marketable equity security (4,886) 627 9,622 (6,143) 25,097
Comprehensive income (loss) attributable to the Company $ (135,081) $ 117,302 $ (586,220) $ 109,817 $ (7,804,500)
Net income (loss) per common share basic and diluted       $ (0.01)    $ (0.32)
Weighted average common shares outstanding basic and diluted 45,305,862 45,040,662 45,305,862 45,033,174 24,362,390