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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2013
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of change in the balance of the asset retirement obligation |
|  | December 31, |
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|  | 2013 |  | 2012 |
Reserve for future restoration and reclamation costs at January 1 |  | $ | 4,498,057 |  | $ | 4,735,759 |
Changes in cash flow estimates |  |  | 584,025 |  |  | 1,444,406 |
Costs incurred |  |  | (1,638,214 | ) |  | (1,767,289 | )
Accretion expense |  |  | 389,740 |  |  | 85,181 |
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Reserve for future restoration and reclamation costs at December 31, |  | $ | 3,833,608 |  | $ | 4,498,057 |
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Schedule of liabilities measured at fair value on a recurring basis |
|  | Liabilities at Fair Value, December 31 |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |
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December 31, 2013: |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liability—convertible debenture |  | $ | 2,169,408 |  | $ | — |  | $ | 2,169,408 |  | $ | — |
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Total |  | $ | 2,169,408 |  | $ | — |  | $ | 2,169,408 |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the changes in carrying amount of a liability for asset retirement obligations, for changes such as new obligations, changes in estimates of existing obligations, spending on existing obligations, property dispositions, and foreign currency translation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6393242&loc=d3e13201-110859 + Details
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