v2.4.0.6
Condensed Statement of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities    
Net (loss) $ (945,349) $ (1,475,553)
Adjustments to reconcile net (loss) to net cash used in operating activities:    
Shares issued for compensation 189,000 357,000
Amortization of discount 212,070 444,993
Impairment expense 256,737  
Amortization of mineral properties 60,808 37,135
Gain on forgiveness of debt (322,731)  
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable 26,043 (6,637)
(Increase) decrease in prepaid expenses 39,812 4,257
Increase (decrease) in accounts payable and accrued liabilities 246,238 7,320
Increase (decrease) in accrued interest 142,447 250,618
Net cash used by operating activities (94,925) (380,867)
Cash flows from investing activities    
Proceeds from sale of mineral properties 106,000  
Acquisition of mineral properties (245,100) (804,000)
Net cash used by investing activities (139,100) (804,000)
Cash flows from financing activities    
Short-term note from officer 39,200  
Proceeds from convertible debenture 198,000 1,232,188
Net cash provided by financing activities 237,200 1,232,188
Net increase (decrease) in cash 3,175 47,321
Cash - beginning 2,609 3,225
Cash - ending 5,784 50,546
Supplemental disclosures:    
Interest paid 43,750 68,250
Income taxes paid      
Non-cash transactions:    
Shares issued for compensation 189,000 357,000
Accounts Payable
    
Non-cash transactions:    
Conversion of stock 239,469  
Notes Payable
    
Non-cash transactions:    
Conversion of stock $ 3,375,846