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Segment Reporting
 3 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
Segment Reporting

8. Segment Reporting

 

Our management organizes the Company into two operating segments, mining and hospitality. Our mining segment consists of all activities and expenditures associated with mining. Our hospitality segment consists of hotel rooms, cottages, restaurant, bar and other services provided by Gold Hill Hotel Inc. We evaluate the performance of our operating segments based on operating income (loss). All intercompany transactions have been eliminated, and intersegment revenues are not significant. Financial information relating to our reportable operating segments and reconciliation to the consolidated totals is as follows:

 

    Three Months Ended March 31,  
    2013     2012  
Revenue                
Mining   $ 3,667,922     $ -  
Hospitality     121,844       111,722  
Total revenue     3,789,766       111,722  
                 
Cost and Expenses                
Mining     (9,321,585 )     (7,620,487 )
Hospitality     (206,341 )     (152,051 )
Total cost and expenses     (9,527,926 )     (7,772,538 )
                 
Operating Loss                
Mining     (5,653,663 )     (7,620,487 )
Hospitality     (84,497 )     (40,329 )
Total loss from operations     (5,738,160 )     (7,660,816 )
                 
Other (expense) income, net     (24,872 )     328,218  
Net loss   $ (5,763,032 )   $ (7,332,598 )
                 
Depreciation, Depletion, and Amortization                
Mining   $ 1,050,751     $ 152,011  
Hospitality     32,418       28,642  
Total depreciation, depletion, and amortization   $ 1,083,169     $ 180,653  
                 
Capital Expenditures                
Mining   $ 128,562     $ 6,582,081  
Hospitality     -       101,000  
Total capital expenditures   $ 128,562     $ 6,683,081  

 

    As of March 31,     As of December 31,  
    2013     2012  
Assets                
Mining   $ 46,601,743     $ 46,606,912  
Hospitality     1,163,045       1,257,633  
    $ 47,764,788     $ 47,864,545