XML 16 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
New Jersey Mining Company Consolidated Statements of Cash Flows (Unaudited)
6 Months Ended
Jun. 30, 2017
USD ($)
Jun. 30, 2016
USD ($)
Cash flows from operating activities:    
Net loss $ (89,780) $ (274,425)
Adjustments to reconcile net loss to net cash (used) by operating activities:    
Depreciation and amortization 59,991 3,214
Amortization of discount on note payable 26,274 24,908
Accretion of asset retirement obligation 3,988 2,646
Stock based compensation 73,137 42,039
Change in fair value of forward gold contracts 141,596  
Change in:    
Milling receivables 10,500 9,127
Joint venture receivables (4,718) (2,282)
Gold sales receivables (183,236)  
Concentrate inventory 209  
Other current assets 2,328 (1,945)
Accounts payable (34,749) 118,045
Accrued payroll and related payroll expense (4,752) (13,351)
Interest payable related parties 9,835 27,001
Net cash provided (used) by operating activities 10,623 (65,023)
Cash flows from investing activities:    
Purchases of property, plant and equipment (67,275) (42,272)
Purchase of mineral property (5,125) (79,651)
Purchase of reclamation bond (45,320)  
Purchase of investment in joint venture   (225,000)
Net cash (used) by investing activities (117,720) (346,923)
Cash flows from financing activities:    
Sales of common stock and warrants, net of issuance costs 1,041,000  
Borrowings on notes payable, related parties   475,000
Borrowings under line of credit   31,865
Payments on forward gold contracts in cash (175,828)  
Gold purchased for payments on forward gold contracts (157,887)  
Principal payments on notes payable (396,192) (143,512)
Principal payments on note payables, related parties (53,657) (7,095)
Contributions from non-controlling interest 14,903 4,448
Net cash provided (used) by financing activities 272,339 360,706
Net change in cash and cash equivalents 165,242 (51,240)
Cash and cash equivalents, beginning of period 154,833 62,275
Cash and cash equivalents, end of period 320,075 11,035
Non-cash investing and financing activities    
Shares of common stock and warrants issued for payment of note and interest payable, related party $ 100,000  
Shares of common stock issued for investment in joint venture   $ 210,000