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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2017

Estimated Useful Lives of Property, Plant and Equipment

Depreciation is calculated using the straight-line method over the estimated useful lives of the property, plant and equipment, which are:

		Years
Land improvements		10
Plant and buildings		5-15
Real estate properties		10-40
Rail spur		30
Vehicles		3-5
Machinery, equipment and tooling		3-15
Furniture and fixtures		3-10
Deferred mining costs		3

Reconciliation of Weighted-Average Common Shares Outstanding Used in the Calculation of Basic Net Income Per Share and Diluted Net Income Per Share

The following table reconciles the weighted-average common shares outstanding used in the calculation of basic net income per share to the weighted average common shares outstanding used in the calculation of diluted net income per share:

	Three Months Ended		Three Months Ended
	March 31, 2017		March 31, 2016
Determination of Shares
Weighted average common shares outstanding		39,697		22,135
Assumed conversion of warrants		-		3,999
Assumed conversion of restricted stock		177		276
Diluted weighted average common stock outstanding		39,874		26,410