XML 39 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 59 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
INCOME EARNED DURING EXPLORATION STAGE      
Concentrate sales $ 0 $ 0 $ 969,905
EXPENSES      
General project costs 63,395 59,059 1,945,914
Exploration expense 1,653 27,552 1,748,234
Consulting 12,827 3,900 608,231
Officers and directors fees 34,385 70,000 1,456,243
Legal and professional 42,184 26,679 544,692
General and administrative 55,891 34,015 751,431
Depreciation 399 16,402 223,867
Total Expenses 225,611 237,607 7,278,612
OPERATING LOSS (225,611) (237,607) (6,308,707)
OTHER INCOME (EXPENSE)      
Interest and other income 0 0 66,586
Income on joint venture agreement 0 0 200,000
Change in fair value of derivatives 6,673 (152,747) (29,465)
Loss on extinguishment of debt 0 0 (3,069,404)
Financing expense (1,248,015) 0 (2,880,326)
Interest expense (367,566) (377,430) (3,972,977)
Total Other Income (Expense) (1,608,908) (530,177) (9,685,586)
LOSS BEFORE INCOME TAXES (1,834,519) (767,784) (15,994,293)
INCOME TAXES 0 0 0
NET LOSS $ (1,834,519) $ (767,784) $ (15,994,293)
BASIC AND DILUTED NET LOSS PER SHARE $ (0.19) $ (0.09) $ 0
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING-BASIC AND DILUTED 9,502,040 8,924,186 0