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Long term loans (Detail) - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Debt Instrument [Line Items]    
Loan payable to Chang'an International Trust Co., Ltd. [1] $ 31,453,618 $ 32,517,085
Less current maturies (31,453,618) (28,844,777)
Total long term loans $ 0 $ 3,672,308
[1] On November 29, 2013, Wuhan Kingold entered into a Trust Loan Contract in the amount of RMB 200 million (approximately $31.5 million as of the spot rate on September 30, 2015) with Chang’an International Trust Co., Ltd. (the “Trust Loan”) in order to undertake the aforementioned acquisition of the Jewelry Park project (see Note 5). The Trust Loan was approved on December 3, 2013. The loan has a 24-month term, and bears interest at a fixed rate of 13.5% per annum. Wuhan Kingold pledged 1,000 kilograms of gold valued at approximately $39.2 million at September 30, 2015 to secure this loan. Interest for the Trust Loan in the amount of $3.1 million for the nine months and $0.9 million for the three months ended September 30, 2015 was capitalized into construction in progress and was not recorded as part of total interest expenses. The loan will mature on November 29, 2015 and the Company plans to fully repay this loan upon maturity by using the proceeds received from the Mingsheng Bank Trust Loan (see note c) above).