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Income Taxes | 12 Months Ended
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Dec. 31, 2012
Income Taxes [Abstract] |
Income Taxes | 21. Income Taxes The provision (benefit) for income taxes from continued operations for the years ended December 31, 2012, 2011 and 2010 consist of the following:
|  | 2012 |  |  | 2011 |  |  | 2010 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | - |  |  | $ | - |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | - |  |  |  | (76,081 | ) |  |  | - |
Income taxes provision |  | $ | - |  |  | $ | (76,081 | ) |  | $ | - |
Federal statutory rate |  |  | (34.0 | )% |  |  | (34.0 | )% |  |  | (34.0 | )%
Change in valuation allowance |  |  | 33.9 |  |  |  | 32.9 |  |  |  | 33.7 |
Other |  |  | 0.1 |  |  |  | 0.4 |  |  |  | 0.3 |
|  |  | - | % |  |  | (0.7 | )% |  |  | - | %
Deferred income taxes at December 31, 2012 and 2011 consisted of the following:
|  | December 31, |  |  | December 31, |
|  | 2012 |  |  | 2011 |
Asset retirement obligation |  | $ | 609,905 |  |  | $ | 401,922 |
Fixed assets |  |  | (695,728 | ) |  |  | (121,016 | )
Mine exploration and development costs |  |  | 5,576,631 |  |  |  | 5,002,105 |
Derivatives - change in fair value |  |  | (487,274 | ) |  |  | (332,754 | )
Stock-based compensation |  |  | 2,261,053 |  |  |  | 682,761 |
Net operating loss |  |  | 40,925,397 |  |  |  | 32,122,539 |
Transaction costs |  |  | 1,362,388 |  |  |  | 1,312,856 |
Other |  |  | 48,048 |  |  |  | 64,942 |
Valuation allowance |  |  | (49,600,420 | ) |  |  | (39,133,355 | )
Total net deferred tax assets |  | $ | - |  |  | $ | - |
At December 31, 2012, the Company had federal net operating losses of approximately $120,370,000 which will begin to expire in 2023 and could be subject to certain limitations under section 382 of the Internal Revenue Code. The Company has provided a valuation allowance at December 31, 2012 and 2011 of $49,600,420 and $39,133,355 for its net deferred tax assets as it cannot conclude it is more likely than not that they will be realized. The valuation allowance increased by approximately $10,467,000, $3,897,000 and $20,302,000 in 2012, 2011 and 2010, respectively. As of December 31, 2012 and 2011, the Company did not have any unrecognized tax benefits. The Company's policy is to recognize interest and penalties related to income tax matters in income tax expense. The Company currently has no federal or state tax examinations in progress nor has it had any federal or state tax examinations since its inception. The Company is subject to U.S. federal and state income tax examination for tax years 2009 and forward.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -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. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -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. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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