Summary of Significant Accounting Policies (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2016

Dec. 31, 2015

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 September 30, 2015		Nine Months Ended September 30, 2015
Determination of shares:
Weighted average common shares outstanding		22,112,261		22,112,261
Assumed conversion of warrant		3,999,998		3,999,998
Assumed conversion of restricted stock		275,276		275,276

Diluted weighted-average common stock outstanding		26,387,535		26,387,535


Year ended December 31,	2015		2014
Determination of shares:
Weighted average common shares outstanding		22,114,400		22,039,600
Assumed conversion of warrants		3,999,998		3,999,998
Assumed conversion of restricted stock		285,602		204,202

Diluted weighted-average common stock outstanding		26,400,000		26,243,800

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