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Long-Term Reclamation Liability and Retirement Obligation Asset | 12 Months Ended
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Dec. 31, 2012
Long-Term Reclamation Liability and Retirement Obligation Asset [Abstract] |
Long-Term Reclamation Liability and Retirement Obligation Asset | 11. Long-term Reclamation Liability and Retirement Obligation Asset We have accrued a long-term liability of $4,597,156 and $2,007,605 as of December 31, 2012 and 2011, respectively, for our obligation to reclaim our mine facility based on our most recent reclamation plan, as revised, submitted and approved by the Nevada State Environmental Commission and Division of Environmental Protection. In conjunction with recording the reclamation liability, we recorded a retirement obligation asset that is being amortized over the period of the anticipated land disturbance. Such costs are based on management's current estimate of then expected amounts for the remediation work, assuming the work is performed within current laws and regulations. It is reasonably possible that, due to uncertainties associated with the application of laws and regulations by regulatory authorities and changes in reclamation or remediation technology, the ultimate cost of reclamation and remediation could change in the future. We periodically review the accrued reclamation liability for information indicating that our estimated liabilities may change. The accretion of reclamation liability and the amortization of the retirement obligation asset for the years ended December 31, 2012, 2011 and 2010 were $611,714, $188,751, and $146,566 respectively. Following is a reconciliation of the aggregate retirement liability associated with our reclamation plan for the mining projects for the years ended December 31, 2012, 2011 and 2010:
|  | 2012 |  |  | 2011 |  |  | 2010 |
Long-term reclamation liability - beginning of period |  | $ | 2,007,605 |  |  | $ | 1,332,730 |  |  | $ | 1,186,966 |
Additional obligations incurred |  |  | 2,405,314 |  |  |  | 577,529 |  |  |  | 58,447 |
Accretion of reclamation liability |  |  | 184,237 |  |  |  | 97,346 |  |  |  | 87,317 |
Long-term reclamation liability - end of period |  | $ | 4,597,156 |  |  | $ | 2,007,605 |  |  | $ | 1,332,730 |
Following is a reconciliation of the aggregate retirement obligation asset associated with our mining projects for the years ended December 31, 2012, 2011 and 2010:
|  | 2012 |  |  | 2011 |  |  | 2010 |
Retirement obligation asset - beginning of period |  | $ | 825,481 |  |  | $ | 339,357 |  |  | $ | 340,159 |
Additional obligations incurred |  |  | 2,405,314 |  |  |  | 577,529 |  |  |  | 58,447 |
Amortization of retirement obligation asset |  |  | (427,477 | ) |  |  | (91,405 | ) |  |  | (59,249 | )
Retirement obligation asset - end of period |  | $ | 2,803,318 |  |  | $ | 825,481 |  |  | $ | 339,357 |
Additions to the reclamation liability in 2012 and 2011 related primarily to the preparation and commencement of mining production activities.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7569-110849 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 143 -Paragraph 22 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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