Properties, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Properties, plant and equipment at December 31, 2013 and 2012 consisted of the following:



	2013			2012
Land and building	$	4,683,852		$	3,648,437
Vehicle and equipment	7,964,633			6,440,246
Processing and laboratory	18,114,045			12,800,760
Furniture and fixtures	754,885			562,577
	31,517,415			23,452,020
Less accumulated depreciation	(6,241,975		)	(2,960,950		)
	$	25,275,440		$	20,491,070

During the year ended December 31, 2013, the Company acquired properties, plant and equipment totaling $11.3 million for continued expansion. The Company sold mining vehicles and other equipment with a gross book value of $3.2 million for a loss of $1.0 million during 2013. The loss is included in general and administrative cost and expenses in the consolidated statements of operations.

Property, plant and equipment capitalized under capital lease obligations as of December 31, 2013 included mining vehicles and equipment with a gross book value of $3.8 million and an accumulated depreciation value of $0.3 million. The Company did not have any property, plant, and equipment capitalized under capital lease obligations as of December 31, 2012.

During the years ended December 31, 2013, 2012 and 2011, the Company recognized $3,834,442; $2,428,147; and $269,549, respectively, of depreciation expense.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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