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Consolidated Balance Sheets (USD $)
Sep. 30, 2011
Dec. 31, 2010
CURRENT ASSETS  
Cash$ 699,167$ 566,549
Concentrate inventory49,7380
Prepaid expenses and other current assets38,58942,153
Total Current Assets787,494608,702
PROPERTY AND EQUIPMENT, net of depreciation of $72,752 and $22,770394,164404,819
MINERAL PROPERTIES AND LEASES (Note 6)827,580777,735
RECLAMATION BONDS (Notes 4 and 6)143,30380,302
TOTAL ASSETS2,152,5411,871,558
CURRENT LIABILITIES  
Accounts payable47,85674,507
Accrued expenses21,98033,115
Accrued liabilities-officer wages0131,259
Derivative liability-put option24,93826,396
Derivative liability-conversion option213,5870
Interest payable264,7060
Convertible debt-net of discount517,2640
Note payable-equipment015,995
Notes payable-net of discount, current portion3,620,2201,623,531
Interest on notes payable-net of prepaid portion64,891106,307
Total Current Liabilities4,775,4422,011,110
LONG-TERM DEBT  
Convertible debt-net of discount (Note 5)0465,444
Accrued repayment premium on note payable-net of prepaid portion86,82830,745
Notes payable-net of discount835,4030
TOTAL LIABILITIES5,697,6732,507,299
COMMITMENTS AND CONTINGENCIES (Notes 4 and 6)  
STOCKHOLDERS' EQUITY (DEFICIT)  
Preferred Stock, $0.001 par value, 10,000,000 shares authorized Series A: 958,033 shares issued and outstanding958958
Series A-1: No shares issued and outstanding00
Series A-2: 100,000 shares issued and outstanding1000
Common stock, $0.001 par value, 100,000,000 shares authorized; 8,297,876 and 7,586,411 shares issued and outstanding, respectively8,2987,587
Additional paid-in capital5,039,0243,718,109
Accumulated deficit prior to exploration stage(1,016,591)(1,016,591)
Accumulated deficit during exploration stage(7,576,921)(3,345,804)
Total Stockholders' Equity (Deficit)(3,545,132)(635,741)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)$ 2,152,541$ 1,871,558