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Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2012
Summary of Significant Accounting Policies [Abstract] |
Components of Property and Equipment | Components of Property and Equipment as of June 30, 2012 and December 31, 2011 are as follows:
|  | (In thousands) |
|  | June 30, |  |  | December 31, |
|  | 2012 |  |  | 2011 |
Oil & Gas properties |  |  |  |  |  |
Unproved |  | $ | 11,769 |  |  | $ | 17,098 |
Wells in progress |  |  | 980 |  |  |  | 2,909 |
Proved |  |  | 109,081 |  |  |  | 99,496 |
|  |  | 121,830 |  |  |  | 119,503 |
Less accumulated depreciation |  |  |  |  |  |  |  |
depletion and amortization |  |  | (36,231 | ) |  |  | (28,561 | )
Net book value |  |  | 85,599 |  |  |  | 90,942 |
Mining properties |  |  | 20,739 |  |  |  | 20,739 |
Building, land and equipment |  |  | 15,069 |  |  |  | 14,984 |
Less accumulated depreciation |  |  | (6,092 | ) |  |  | (5,788 | )
Net book value |  |  | 8,977 |  |  |  | 9,196 |
Totals |  | $ | 115,315 |  |  | $ | 120,877 |
Mineral Properties | Our carrying balance in the Mt. Emmons property at June 30, 2012 and December 31, 2011 is as follows:
|  | (In thousands) |
|  | June 30, |  |  | December 31, |
|  | 2012 |  |  | 2011 |
Costs associated with Mount Emmons |  |  |  |
beginning of year |  | $ | 20,739 |  |  | $ | 21,077 |
Development costs |  |  | -- |  |  |  | 16 |
Option payment from Thompson Creek |  |  | -- |  |  |  | (354 | )
Costs at the end of the period |  | $ | 20,739 |  |  | $ | 20,739 |

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- Definition Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph b -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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