XML 65 R14.htm IDEA: XBRL DOCUMENT
v3.20.1

8. Asset Retirement Obligation | 12 Months Ended
--- | ---
Dec. 31, 2019
Notes |
8. Asset Retirement Obligation | 8. 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 is operations. Obligations were established for the New Jersey mill in 2014 and the Golden Chest mine in 2016. Activity for the years ended December 31, 2019 and 2018 is as follows:
|  | 2019 |  | 2018
Balance at January 1 | $ | 154,292 | $ | 121,560
Accretion expense |  | 9,077 |  | 3,901
Revision of estimated reclamation costs |  | - |  | 28,831
Balance at December 31 | $ | 163,369 | $ | 154,292
During the year ended December 31, 2018, the obligations for the Golden Chest and New Jersey mill properties were revised in consideration of additional disturbance activity and timing of future reclamation. The estimated reclamation costs were discounted using credit adjusted, risk-free interest rate of 5.0% from the time the obligation was incurred to the time management expects to pay the retirement obligation.

X
- 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 + Details
Name: | us-gaap_AssetRetirementObligationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration