XML 23 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2013
Dec. 31, 2012
CURRENT ASSETS:    
Cash and cash equivalents $ 9,593,058 $ 5,973,079
Accounts receivable    634,643
Inventories 1,269,619 662,929
Stockpiles and mineralized material on leach pad 4,874,006 4,280,664
Prepaid expenses 2,100,071 2,808,623
Total current assets 17,836,754 14,359,938
MINERAL RIGHTS AND PROPERTIES, Net 7,604,780 7,614,780
PROPERTIES, PLANT AND EQUIPMENT, Net 17,138,056 20,491,070
RECLAMATION BOND DEPOSIT 2,510,804 2,510,804
RETIREMENT OBLIGATION ASSET 2,596,229 2,803,318
OTHER ASSETS 78,165 84,635
TOTAL ASSETS 47,764,788 47,864,545
CURRENT LIABILITIES:    
Accounts payable 2,511,597 2,535,932
Accrued expenses 7,140,349 7,360,559
Long-term debt obligations - current portion 5,612,387 7,720,764
Derivative liabilities 106,867 544,681
Total current liabilities 15,371,200 18,161,936
LONG-TERM LIABILITIES:    
Long-term debt obligations 4,900,496 6,010,891
Long-term reclamation liability 4,670,362 4,597,156
Other liabilities 400,000 700,000
Total long-term liabilities 9,970,858 11,308,047
Total liabilities 25,342,058 29,469,983
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' EQUITY:    
Common stock, $.000666 par value, 3,950,000,000 shares authorized, 57,145,462 and 48,466,267 shares issued and outstanding at March 31, 2013 and December 31, 2012, respectively 38,059 32,279
Additional paid-in capital 185,770,981 175,985,559
Accumulated deficit (163,386,347) (157,623,315)
Total stockholders' equity 22,422,730 18,394,562
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 47,764,788 47,864,545
7.5% Series A-1 Convertible Preferred Stock [Member]
   
STOCKHOLDERS' EQUITY:    
Convertible Preferred Stock; 50,000,000 shares authorized 16 16
7.5% Series A-2 Convertible Preferred Stock [Member]
   
STOCKHOLDERS' EQUITY:    
Convertible Preferred Stock; 50,000,000 shares authorized 3 4
7.5% Series B convertible preferred stock [Member]
   
STOCKHOLDERS' EQUITY:    
Convertible Preferred Stock; 50,000,000 shares authorized $ 18 $ 19