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14. Forward Gold Contracts (Details) | 12 Months Ended
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Dec. 31, 2017
Opyhir Holdings |
Option Indexed to Issuer's Equity, Settlement Alternatives | On July 13, 2016, the Company entered into a forward gold contract with Ophir Holdings LLC, a company owned by three of the Company’s officers, for net proceeds of $467,500 to fund startup costs at the Golden Chest. The agreement calls for the Company to deliver a total of 500 ounces of gold to the purchasers in quarterly payments starting December 1, 2016 for a period of two years as gold is produced from the Golden Chest Mine and New Jersey Mill. Ophir Holdings agreed to delay receipt of its December 1, 2016 payment until 2017. The equivalent of 80.5 ounces were delivered to Ophir Holdings in 2017. At December 31, 2017, future gold deliveries are 113 ounces in 2018, 222 ounces in 2019, and 84.5 ounces in 2020.
GoldenChestMember |
Option Indexed to Issuer's Equity, Settlement Alternatives | On July 29, 2016, the Company entered into a forward gold contract through GVC Capital LLC for net proceeds of $772,806 to fund startup costs at the Golden Chest. The agreement calls for the Company to deliver a total of 904 ounces of gold to the purchasers in quarterly payments starting December 1, 2016 for a period of two years as gold is produced from the Golden Chest Mine and New Jersey Mill. The December 1, 2016 payment and 4 payments in 2017 were paid with an ounce equivalent of 565 ounces. At December 31, 2017, future gold deliveries are 339 ounces in 2018.

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- Definition Describes the settlement alternatives of the freestanding contract as either (i) physical settlement; (ii) net-share settlement; or, (iii) net-cash settlement. Physical settlement is when the party designated in the contract as the buyer delivers the full stated amount of cash to the seller, and the seller delivers the full stated number of shares to the buyer. Net-share settlement is when the party with a loss delivers to a party with a gain shares with a current fair value equal to the gain. Net-cash settlement is when the party with a loss delivers to the party with a gain a cash payment equal to the gain, and no shares are exchanged. Also discusses who controls the settlement alternatives and the maximum number of shares that could be required to be issued to net share settle a contract. If a contract does not have a fixed or determinable maximum number of shares that may be required to be issued, the fact that a potentially infinite number of shares could be required to be issued to settle the contract would generally be expected to be disclosed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (b),(c) -URI http://asc.fasb.org/extlink&oid=6445032&loc=d3e90205-114008 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -URI http://asc.fasb.org/subtopic&trid=2229355 + Details
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