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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES        
Revenue - Mining $ 4,301,169 $ 6,513,348 $ 15,670,371 $ 18,098,395
Revenue - Hospitality and lease 43,904 274,201 200,411 668,530
Total revenues 4,345,073 6,787,549 15,870,782 18,766,925
COST AND EXPENSES        
Costs applicable to mining revenue 3,450,311 4,377,791 10,388,054 14,607,454
Hospitality and lease operating costs 42,549 331,613 303,843 922,758
Exploration and mine development 1,505,492 767,552 2,639,346 2,262,329
Mine claims and costs 691,444 1,064,519 2,112,806 2,981,441
Environmental and reclamation 169,148 167,194 473,958 750,190
Land and road development 818,474 0 1,680,720 0
General and administrative 1,637,313 1,509,494 5,095,306 5,177,802
Total cost and expenses 8,314,731 8,218,163 22,694,033 26,701,974
LOSS FROM OPERATIONS (3,969,658) (1,430,614) (6,823,251) (7,935,049)
OTHER INCOME (EXPENSE)        
Change in fair value of derivatives 0 (366,011) 0 (582,845)
Interest expense (337,700) (264,323) (891,824) (757,857)
Other income (expense), net 0 1,012,190 3,187,385 1,013,426
Total other income (expense), net (337,700) 381,856 2,295,561 (327,276)
NET INCOME (LOSS) BEFORE INCOME TAXES (4,307,358) (1,048,758) (4,527,690) (8,262,325)
INCOME TAXES 0 0 0 0
NET INCOME (LOSS) (4,307,358) (1,048,758) (4,527,690) (8,262,325)
DIVIDENDS ON CONVERTIBLE PREFERRED STOCK (3,644,888) (931,680) (5,452,445) (2,802,769)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ (7,952,246) $ (1,980,438) $ (9,980,135) $ (11,065,094)
Net income (loss) per common share – basic (in dollars per share) $ (0.07) $ (0.02) $ (0.11) $ (0.14)
Net income (loss) per common share – diluted (in dollars per share) $ (0.07) $ (0.02) $ (0.11) $ (0.14)
Weighted average common shares outstanding — basic 112,133,768 82,912,805 94,036,959 77,065,692
Weighted average common shares outstanding — diluted 112,133,768 82,912,805 94,036,959 77,065,692