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5. Property, Plant and Equipment

12 Months Ended

Dec. 31, 2016

Notes

5. Property, Plant and Equipment

5. Property, Plant and Equipment

Property, plant and equipment at December 31, 2016 and 2015, consisted of the following:

			2016		2015
Mill
Mill land		$	225,289	$	225,289
Mill building			536,193		536,193
Milling equipment			4,192,940		4,209,440
			4,954,422		4,970,922
Less accumulated depreciation			(307,302)		(285,420)
Total mill			4,647,120		4,685,502
Building and equipment at cost			434,897		362,188
Less accumulated depreciation			(223,264)		(217,738)
Total building and equipment			211,633		144,450
Land
Bear Creek Land			266,934		196,204
Little Baldy Land			62,139		72,139
BOW Land			230,449		230,449
Eastern Star Land			250,817		250,817
Gillig Land			79,137		79,137
Highwater Land			40,133		40,133
Total Land			929,609		868,879
Total		$	5,788,362	$	5,698,831

During the year ended December 31, 2015, $16,295 in interest was capitalized in conjunction with the mill expansion project. None was capitalized in 2016 for the mill expansion.

During the year ended December 31, 2012, a lease agreement was entered into with Hecla Mining Company (“Hecla”) on the Company’s Little Baldy land holding. Under the agreement, Hecla has paid $10,000 each year in 2016 and 2015, respectively, to the Company for the option to obtain NJMC’s interest in the land. The Company has recorded these lease payments as a reduction in the carrying value of the land for the years ended December 31, 2016 and 2015.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.13-14)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2921-110230

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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