XML 42 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
New Jersey Mining Company (A Development Stage Company) Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended 212 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Cash flows from operating activities:      
Net loss $ (268,356) $ (75,214) $ (9,592,970)
Adjustments to reconcile net loss to net cash (used) by operating activities:      
Depreciation and amortization 14,526 28,016 1,080,841
(Gain) loss on sale of equipment   (95,000) (154,829)
Write down of goodwill, investment, and mineral property     554,092
Gain on sale of mineral property     (281,334)
Gain on sale of marketable equity security     (92,269)
Accretion of asset retirement obligation 288 288 10,399
Equity in loss of Golden Chest LLC   84,000 1,475,205
Management and directors' fees     1,186,335
Services and other     255,874
Exploration expense     161,521
Change in:      
Joint venture receivables (31,430) 3,820 (92,573)
Other current assets 70 (4,952) (45,899)
Inventory   7,309  
Other assets     (778)
Accounts payable 16,754 58,999 72,712
Accrued payroll and related payroll expense 6,651 8,471 28,662
Account payable Marathon Gold   (62,500)  
Accrued reclamation costs     (1,443)
Net cash (used) by operating activities (261,497) (46,763) (5,436,452)
Cash flows from investing activities:      
Purchases of property, plant and equipment (5,633)   (4,454,294)
Purchase of mineral property   (4,500) (12,904)
Proceeds from sale of mineral property     584,000
Deposit on equipment (23,616)   (23,616)
Contributions to Golden Chest LLC   (84,000) (922,000)
Proceeds from sale of equipment   95,000 171,074
Redemption (purchase) of reclamation bonds     (120,500)
Purchase of marketable equity security     (7,500)
Proceeds from sales of marketable equity securities     95,901
Cash of acquired companies     38,269
Deferral of development costs     (759,209)
Net cash provided (used) by investing activities (29,249) 6,500 (5,410,779)
Cash flows from financing activities:      
Exercise of stock purchase warrants     2,571,536
Sales of common stock and warrants, net of issuance costs 405,000   6,651,236
Payments on capital lease (8,555) (7,683) (283,227)
Principal payments on notes payable (16,156) (17,874) (656,800)
Principal payments on note and other payables, related party, net (1,133) 68,289 89,816
Contributions from non-controlling equity interest in Mill JV 8,554 7,683 3,207,762
Net cash provided by financing activities 387,710 50,415 11,580,322
Net increase in cash and cash equivalents 96,964 10,152 733,091
Cash and cash equivalents, beginning of period 636,127 9,950  
Cash and cash equivalents, end of period 733,091 20,102 733,091
Supplemental disclosure of cash flow information      
Interest paid in cash, net of amount capitalized 11,619 14,321 169,074
Non-cash investing and financing activities:      
Property, plant and equipment     50,365
Mineral properties agreement     616,600
Payment of accounts payable     18,730
Acquisitions of companies, excluding cash     743,653
Capital lease obligation incurred for equipment acquired     275,838
Notes payable for property and equipment acquired     884,397
Mineral property transferred to Golden Chest LLC     553,205
Debt relieved from sale of equipment     13,421
Related party note payable for property acquired     $ 223,807