Inventories, Stockpiles and Mineralized Material on Leach Pad

3 Months Ended

Mar. 31, 2013

Inventories, Stockpiles and Mineralized Material on Leach Pad [Abstract]

Inventories, Stockpiles and Mineralized Material on Leach Pad

2. Inventories, Stockpiles and Mineralized Material on Leach Pad

Inventories, stockpiles and mineralized material on leach pad consisted of the following:

	March 31,		December 31,
	2013		2012
In-process	$	919,061	$	662,929
Finished goods		350,558		-
Total inventories	$	1,269,619	$	662,929

Stockpiles	$	616,619	$	361,061
Mineralized material on leach pad		4,257,387		3,919,603
Total stockpiles and mineralized material on leach pad	$	4,874,006	$	4,280,664

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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