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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Tax Benefit

(in thousands)	2014	2013
Current:
United States	$   -	$      5
Foreign	-	12
Deferred:
United States	-	(614)
Foreign	-	-
Operating loss and credit carryovers:
United States	-	421
Foreign	-	-
Income tax benefit	$  -	$(176)

Deferred Tax Assets and Liabilities

(in thousands)	2014	2013
Deferred tax assets:
Loss carryovers	$11,168	$9,852
Deferred Gain	2,376	2,335
Stock option compensation expense	350	932
Royalty	1,387	1,363
Earnings in Unconsolidated Subsidiary	865	798
Severance	-	23
Other	105	107
Valuation allowance	(12,431)	(12,545)
Total deferred tax assets	3,820	2,865
Deferred tax liabilities:
Unrealized gain on derivative securities	238	160
MH-LLC investment	2,305	1,168
Exploration costs	845	845
Unrealized gains on marketable equity securities	152	688
Capitalized interest	277	-
Other	3	4
Total deferred tax liabilities	3,820	2,865
Net deferred tax liabilities	$    -	$    -

Reconciliation of IncomeTaxes

(in thousands)	2014	2013
Expected income tax benefit	$(627)	$(741)
Non-deductible foreign stock compensation expense	850	18
Foreign tax rate differences	(101)	31
State income tax	(146)	303
Change in valuation allowance	(5)	233
MH-LLC Investment	3	(16)
Permanent differences and other	26	(4)
Income tax benefit	$     -	$(176)

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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