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13. Asset Retirement Obligation

9 Months Ended

Sep. 30, 2019

Notes

13. Asset Retirement Obligation

13.          Asset Retirement Obligation

The Company has established asset retirement obligations associated with the ultimate closing of its mineral properties where there has been or currently are operations. Activity for the nine months ended September 30, 2019 and 2018 is as follows:

	Nine Months Ended September 30,
	2019		2018
Balance at beginning of period
Accretion expense	$	154,292	$	121,560
Revision of estimated reclamation costs		6,757		9,028
Balance at end of period		-		10,771
Balance at beginning of period	$	161,049	$	141,359

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- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=2175671

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- References

No definition available.

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