XML 16 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
New Jersey Mining Company Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income (loss) $ 38,828 $ (1,144,006)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Depreciation and amortization 100,588 3,214
Amortization of discount on note payable 35,200 67,157
Accretion of asset retirement obligation 6,327 3,968
Stock based compensation 115,836 55,815
Change in fair value of forward gold contracts 218,461 466,783
Change in:    
Milling receivables 14,500 (34,632)
Joint venture receivables (4,839) 2,794
Gold sales receivables (324,293)  
Concentrate inventory (18,295)  
Timber receivables   (4,977)
Other current assets (33,876) (16,250)
Accounts payable 70,329 115,477
Accrued payroll and related payroll expense (1,133) 16,462
Interest payable related parties 14,152 14,479
Net cash provided (used) by operating activities 231,785 (453,716)
Cash flows from investing activities:    
Purchases of property, plant and equipment (89,458) (90,838)
Purchase of mineral property (14,522) (88,842)
Proceeds from option payment on property 15,000 10,000
Purchase of investment in joint venture   (225,000)
Acquisition of GF&H, net of gain recognized as equity transaction   41,333
Payment received on note receivable 58,386  
Purchase of reclamation bond (45,320) (58,000)
Net cash (used) by investing activities (75,914) (411,347)
Cash flows from financing activities:    
Sales of common stock and warrants, net of issuance costs 1,041,000  
Proceeds from forward gold contracts   1,240,306
Borrowings on notes payable, related parties   475,000
Payments on forward gold contracts in cash (270,755)  
Gold purchased for payments on forward gold contracts (232,037)  
Principal payments on notes payable (532,577) (402,838)
Principal payments on note payables, related parties (89,702) (28,422)
Contributions from non-controlling interest 22,630 1,856
Net cash provided (used) by financing activities (61,441) 1,285,902
Net change in cash and cash equivalents 94,430 420,839
Cash and cash equivalents, beginning of period 154,833 62,275
Cash and cash equivalents, end of period 249,263 483,114
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
Shares of common stock issued for acquisition of GF&H   $ 26,364
Note payable for equipment purchase $ 112,500