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Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended 194 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Cash flows from operating activities:      
Net income (loss) $ (608,076) $ 113,852 $ (7,844,641)
Adjustments to reconcile net loss to net cash provided (used) by operating activities:      
Depreciation and amortization 122,697 64,360 946,410
(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 864 2,604 8,671
Equity in loss of Golden Chest LLC 755,439 0 755,439
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 (2,222) (2,700) (20,633)
Joint venture receivables 66,027 (179,327) (65,689)
Other current assets 37,348 (46,097) (18,094)
Other assets 0 0 (778)
Accounts payable (99,030) 37,060 38,774
Accrued payroll and related payroll expense (36,802) 39,019 17,565
Accounts payable related party joint venture 4,255 75,312 4,255
Accrued reclamation costs 0 0 (1,443)
Net cash provided (used) by operating activities 284,780 91,188 (4,932,808)
Cash flows from investing activities:      
Purchases of property, plant and equipment (1,086,034) (1,465,021) (4,438,577)
Deposit on equipment purchase 0 (422,995) 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 (730,000) 0 (730,000)
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 (1,816,034) (1,875,450) (5,316,346)
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 (22,675) (10,314) (235,183)
Principle payments on notes payable (79,609) (82,040) (569,919)
Note and interest payable, related party, net 97,030 1,500 98,530
Contributions from noncontrolling interest in Mill JV 989,031 1,950,363 3,203,466
Net cash provided by financing activities 983,777 1,864,509 10,314,666
Net change in cash and cash equivalents (547,477) 80,247 65,512
Cash and cash equivalents, beginning of period 612,989 357,317 0
Cash and cash equivalents, end of period 65,512 437,564 65,512
Supplemental disclosure of cash flow information      
Interest paid in cash, net of amount capitalized 8,779 14,119 88,646
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
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
Related party note payable for property $ 223,807 $ 0 $ 223,807