Inventories, Stockpiles and Mineralized Material on Leach Pads

3 Months Ended

Mar. 31, 2016

Inventories, Stockpiles and Mineralized Material on Leach Pads

Inventories, stockpiles and mineralized materials on leach pads consisted of the following:



	March 31, 2016		December 31, 2015
In-process	$	202,613	$	249,130
Finished goods	—		201,821
Total inventories	$	202,613	$	450,951

Stockpiles	$	—	$	—
Mineralized material on leach pads	800,073		1,322,211
Total stockpiles and mineralized material on leach pads	$	800,073	$	1,322,211
Total	$	1,002,686	$	1,773,162

At March 31, 2016, the Company’s estimate of recoverable gold ounces on the leach pad increased from previously estimated 85% to 87.5%. This change increased our recoverable gold ounces in mineralized material placed on leach pad during the quarter ended March 31, 2016, by approximately 1,317 and, as a result, inventories and stockpiles and mineralized material on leach pad increased and costs applicable to mining revenue decreased by approximately $0.3 million.