Property, Plant, Equipment and Mineral Interests

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment, Net [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

3. Property, Plant, Equipment and Mineral Interests

	September 30, 2016		December 31, 2015
Land	$	3,892,583	$	109,600
Mineral property interest and claims		2,064,026		4,458,744
Mine development		42,295,924		86,038,407
Mine equipment		55,970,460		25,425,661
Buildings		17,521,721		5,691,335
Computer equipment and software		429,403		218,822
Vehicles		2,107,558		978,573
Leasehold improvements		-		51,030
Infrastructure (Water/power)		11,051,509		-
Asset retirement costs		871,908		626,878
Construction in progress		1,139,056		-
Capitalized interest		5,770,001		5,174,846
Less:
Accumulated depreciation and depletion		(8,386,543)		(211,324)
	$	134,727,606	$	128,562,572

As at September 30, 2016, the Company had capitalized depreciation of $3,559,886 (December 31, 2015 - $2,255,056 ) relating to assets used in the development of the mine. As the Company entered production on April 1, 2016, the Company began amortising assets put into production on this date and also discontinued capitalizing depreciation.

 

The Company capitalized a portion of the interest expense related to the convertible debenture and notes payable in accordance with its accounting policy. As the Company entered the production phase during the three months ended June 30, 2016, interest was no longer being capitalized.