INVENTORIES, NET

9 Months Ended

Sep. 30, 2015

Inventory, Net [Abstract]

INVENTORIES, NET

NOTE 3 - INVENTORIES, NET

Inventories as of September 30, 2015 and December 31, 2014 consisted of the following:

	As of
	September 30,		December 31,
	2015		2014
Raw materials (A)	$	129,230,176	$	51,502,635
Work-in-progress (B)		113,752,964		120,098,299
Finished goods (C)		29,622,037		40,795,429
Inventory valuation allowance		-		-
Total inventory	$	272,605,177	$	212,396,363

(A)	Included 4,294,366 grams of Au9999 gold in 2015 and 1,546,435 grams of Au9999 gold in 2014.
(B)	Included 3,589,851 grams of Au9999 gold in 2015 and 3,530,919 grams of Au9999 gold in 2014.
(C)	Included 926,227 grams of Au9999 gold in 2015 and 1,183,407 grams of Au9999 gold in 2014.

No lower of cost or market adjustment was recorded at September 30, 2015 and December 31, 2014.