Note E - Summary of Significant Accounting Policies: Property, Equipment and Mineral Development (Policies) |
12 Months Ended |
|---|---|
Dec. 31, 2016 | |
| Policies | |
| Property, Equipment and Mineral Development | Property, Equipment and Mineral Development
Property and equipment are recorded at cost. Maintenance and repair costs are charged to expense as incurred, and renewals and improvements that extend the useful life of assets are capitalized. Depreciation on property and equipment is computed using the straight-line method over the assets' estimated useful lives as follows:
Mining equipment 7-8 years Vehicles 5 years Office equipment 4-10 years |