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Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash and cash equivalents $ 424,629 $ 173,287
Accounts receivable 270,108
Inventories (NOTE 4 ) 4,673,189 5,341,997
Prepaid expenses and other current assets 45,983 18,713
TOTAL CURRENT ASSETS 5,413,909 5,533,997
INVENTORIES (NOTE 4 ) 1,081,425 1,505,020
PROPERTY AND EQUIPMENT, net (NOTE 5) 4,928,280 5,389,660
MINERAL PROPERTIES AND INTERESTS, net (NOTE 6) 3,679,652 3,785,868
RECLAMATION BONDS (NOTE 3) 947,116 758,011
TOTAL ASSETS 16,050,382 16,972,556
CURRENT LIABILITIES:    
Accounts payable and accrued liabilities 375,999 1,459,605
Royalties and upside participation payable (NOTE 7) 1,977,633 798,257
Accrued liabilities – officers and other wages (NOTE 13) 111,159 71,697
Notes payable, current portion (NOTE 8) 427,413 981,759
Settlement of consulting contract payable (NOTE 11) 200,000 200,000
Prepaid forward gold contract liability (NOTE 7) 10,263,438 3,336,618
Due to PDK in lieu of gold deliveries (NOTE 7) 5,771,000
TOTAL CURRENT LIABILITIES 19,126,642 6,847,936
LONG-TERM LIABILITIES    
Notes payable, net of current portion (NOTE 8) 116,098 226,427
Asset retirement obligation (NOTE 10) 1,362,294 1,233,514
Prepaid forward gold contract liability (NOTE 7)   10,263,382
TOTAL LONG-TERM LIABILITIES 1,478,392 11,723,323
TOTAL LIABILITIES 20,605,034 18,571,259
COMMITMENTS AND CONTINGENCIES (NOTES 3, 6 AND 14)
STOCKHOLDERS’ EQUITY (DEFICIT)    
Preferred Stock, $.001 par value; 10,000,000 shares authorized, none issued or outstanding
Common Stock, $.001 par value; 100,000,000 shares authorized; 26,831,603 and 26,831,603 shares issued and outstanding, respectively 26,833 26,833
Additional paid-in capital 9,666,275 9,666,275
Accumulated deficit (14,247,760) (11,291,811)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) (4,554,652) (1,598,703)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 16,050,382 $ 16,972,556