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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended 11 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2019
OPERATING ACTIVITIES:              
Net income (loss) $ 1,275,986 $ (263,212) $ (2,077,744) $ (1,835,065) $ 1,012,774 $ (3,912,809)  
Adjustments to reconcile net loss to net cash used in operating activities:              
Depreciation, amortization, and depletion 116,228   586,940   315,670 1,173,861  
(Reduction) accretion of reclamation liability         10,355 (398,598)  
Gain on sale of properties, plant, and equipment         (100,000) (3,125)  
Amortization of debt discounts and issuance costs         78,586 130,373  
Net loss on early retirement of long-term debt         5,163 176,639  
Payment-in-kind interest expense         0 470,246  
Share-based compensation cost         204,249 0  
Change in make-whole liabilities         (162,711) (100,216)  
Preferred shares issuance expense         0 432,000  
Realized gain on sale of Tonogold common shares         (23,740) 0  
Unrealized gain - Tonogold shares         (1,335,929) 0  
Change in estimated fair value of contingent forward asset (351,091) (1,100,000) 0   (1,413,382) 0  
Changes in operating assets and liabilities:              
Prepaid expenses and other assets         (213,664) (77,699)  
Accounts payable         166,336 197,131  
Accrued expenses and other liabilities         (269,336) 263,483  
Deposits         1,344,405 0  
NET CASH USED IN OPERATING ACTIVITIES         (381,224) (1,648,714)  
INVESTING ACTIVITIES:              
Proceeds from principal payment on note receivable         276 217  
Proceeds from sale of mineral rights and properties, plant, and equipment         100,000 3,125  
Proceeds from deposits on Membership Interest Purchase Agreement         600,000 3,050,000  
Proceeds from deposits on the sale of non-mining assets to Sierra Springs         100,000 0  
Proceeds from sale of Tonogold common shares         43,013 0  
Purchase of mineral rights, mining leases and properties, plant and equipment (11,000)   (720,000)   (11,000) (1,085,000)  
Advance to Sierra Springs Opportunity Fund, Inc.         (140,000) 0  
Change in reclamation bond deposit         (6,611) (46,667)  
NET CASH PROVIDED BY INVESTING ACTIVITIES         418,178 1,921,675  
FINANCING ACTIVITIES:              
Principal payments on long-term debt         (277,151) (1,903,334)  
Proceeds from the issuance of common stock         242,621 1,489,029 $ 1,700,000
Common stock issuance costs         (50,070) (210,688)  
NET CASH USED IN FINANCING ACTIVITIES         (84,600) (624,993)  
DECREASE IN CASH AND CASH EQUIVALENTS         (47,646) (352,032)  
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD   $ 1,015,857   $ 488,657 1,015,857 488,657  
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 968,211   $ 136,625   968,211 136,625 $ 136,625
SUPPLEMENTAL CASH FLOW INFORMATION:              
Cash paid for interest         280,831 55,588  
Supplemental disclosure of non-cash operating, investing and financing activities:              
Issuance of common shares for MCU make whole liability         314,687 0  
Issuance of common shares to purchase Pelen LLC membership interest         585,000 0  
Advance payment of Membership Interest Purchase Agreement (Note 19)         0 4,995,000  
Common stock issuance costs         0 250,000  
Transfer of mineral rights and properties to assets held for sale         0 1,539,197  
Issuance of preferred shares         0 1,083,000  
Preferred share receivable         0 1,083,000  
Corporate Joint Venture              
INVESTING ACTIVITIES:              
Payments to acquire investments         (250,000) 0  
Pelen LLC              
INVESTING ACTIVITIES:              
Payments to acquire investments         $ (17,500) $ 0