XML 26 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
REVENUES      
Revenue - mining $ 18,245,633 $ 24,736,929 $ 24,103,013
Revenue - real estate 247,217 846,432 723,574
Total revenues 18,492,850 25,583,361 24,826,587
COST AND EXPENSES      
Costs applicable to mining revenue 10,652,372 19,126,632 26,495,665
Real estate operating costs 342,634 1,260,972 1,117,225
Exploration and mine development 6,958,636 2,658,473 3,012,790
Mine claims and costs 1,299,823 2,393,722 2,596,650
Environmental and reclamation 2,054,447 2,464,314 2,895,552
Land and road development 2,857,720 0 0
General and administrative 6,752,731 6,371,954 9,641,507
Total cost and expenses 30,918,363 34,276,067 45,759,389
LOSS FROM OPERATIONS (12,425,513) (8,692,706) (20,932,802)
OTHER INCOME (EXPENSE)      
Change in fair value of derivatives 0 (963,169) 454,681
Interest expense (1,216,887) (997,112) (1,157,535)
Other income 3,187,973 1,014,214 2,101
Gain on settlement of debt obligations 0 0 286,535
Total other income (expense), net 1,971,086 (946,067) (414,218)
NET LOSS (10,454,427) (9,638,773) (21,347,020)
DIVIDENDS ON CONVERTIBLE PREFERRED STOCK (5,452,445) (3,672,785) (4,016,705)
NET LOSS AVAILABLE TO COMMON SHAREHOLDERS $ (15,906,872) $ (13,311,558) $ (25,363,725)
Net loss per common share - basic (in usd per share) $ (0.14) $ (0.17) $ (0.42)
Net loss per common share - diluted (in usd per share) $ (0.14) $ (0.17) $ (0.42)
Weighted average common shares outstanding - basic (in shares) 110,072,486 78,586,266 60,580,742
Weighted average common shares outstanding - diluted (in shares) 110,072,486 78,586,266 60,580,742