XML 26 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES        
Revenue - mining $ 1,457,991 $ 5,442,027 $ 3,438,755 $ 11,369,201
Revenue - real estate 33,285 46,264 73,042 156,507
Total revenues 1,491,276 5,488,291 3,511,797 11,525,708
COST AND EXPENSES        
Costs applicable to mining revenue 1,262,316 3,219,831 2,678,237 6,937,743
Real estate operating costs 92,324 61,267 144,753 261,294
Exploration and mine development 810,916 530,660 3,438,508 1,133,854
Mine claims and costs 273,877 293,163 570,310 714,227
Environmental and reclamation 357,238 388,790 729,934 1,011,944
Land and road development 20,904 862,246 20,904 862,246
General and administrative 942,028 1,311,329 2,027,136 3,457,234
Total cost and expenses 3,759,603 6,667,286 9,609,782 14,378,542
LOSS FROM OPERATIONS (2,268,327) (1,178,995) (6,097,985) (2,852,834)
OTHER INCOME (EXPENSE)        
Interest expense (216,358) (330,451) (438,095) (554,124)
Other income (expense), net (370,099) 0 (370,099) 3,186,626
Total other income (expense), net (586,457) (330,451) (808,194) 2,632,502
NET INCOME (LOSS) BEFORE INCOME TAXES (2,854,784) (1,509,446) (6,906,179) (220,332)
INCOME TAXES 0 0 0 0
NET INCOME (LOSS) (2,854,784) (1,509,446) (6,906,179) (220,332)
DIVIDENDS ON CONVERTIBLE PREFERRED STOCK 0 (965,164) 0 (1,883,996)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ (2,854,784) $ (2,474,610) $ (6,906,179) $ (2,104,328)
Net income (loss) per common share – basic (in dollars per share) $ (0.02) $ (0.03) $ (0.04) $ (0.03)
Net income (loss) per common share – diluted (in dollars per share) $ (0.02) $ (0.03) $ (0.04) $ (0.03)
Weighted average common shares outstanding — basic 176,737,416 82,540,600 170,075,960 82,515,428
Weighted average common shares outstanding — diluted 176,737,416 82,540,600 170,075,960 82,515,428