XML 45 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2012
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of change in the balance of the restoration and reclamation liability

 

 

 

 

December 31,

 

 

 

2012

 

2011

 

Reserve for future restoration and reclamation costs at January 1,

 

$

4,735,759

 

$

5,043,645

 

Changes in cash flow estimates

 

1,444,406

 

1,101,234

 

Costs incurred

 

(1,767,289

)

(1,530,303

)

Accretion expense

 

85,181

 

121,183

 

Reserve for future restoration and reclamation costs at December 31,

 

$

4,498,057

 

$

4,735,759