6. Convertible Credit Facility - Related Party	9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]
Convertible Credit Facility - Related Party	Note 6 – Convertible Credit Facility – Related Party Effective July 18, 2012, we entered into a Credit Agreement with Mr. Gibbs, a significant shareholder, providing us with an unsecured credit facility in the maximum amount of $1,000,000. The aggregate principal amount borrowed, together with interest at the rate of 5% per annum, is convertible, at the option of the lender, into common shares at a conversion price of $0.50 per share. Since its inception we have amended the credit agreement several times to either increase the borrowing limit and/or extend the maturity date. Effective September 30, 2019, we amended our credit agreement with Mr. Gibbs to increase the borrowing limit under the convertible credit facility to $2,400,000 and extended the maturity date to December 31, 2019. All other provisions remained unchanged. The modification was not considered substantial. The Company evaluated the convertible line of credit for derivative and beneficial feature conversion and concluded that there is no beneficial conversion since the conversion price at inception was greater than the market value of shares that would be issued upon conversion. Likewise, derivative accounting did not apply to the embedded conversion option. The credit facility also contains customary representations and warranties (including those relating to organization and authorization, compliance with laws, payment of taxes and other obligations, absence of defaults, material agreements and litigation) and customary events of default (including those relating to monetary defaults, covenant defaults, cross defaults and bankruptcy events). Total principal amounts owed under the credit facility notes payable were $2,169,620 and $2,059,620 at September 30, 2019 and December 31, 2018, respectively. Borrowings under our convertible note payable to Mr. Gibbs were $110,000 and $141,500 for the nine months ended September 30, 2019 and 2018, respectively, and were generally used to pay certain mining lease obligations as well as other operating expenses. No principal or interest payments have made to Mr. Gibbs since the inception of the convertible credit facility. As of September 30, 2019 there remained $230,380 of credit available for future borrowings. Total accrued interest on the notes payable to Mr. Gibbs was $528,288 and $448,918 at September 30, 2019 and December 31, 2018, respectively, and are included in Accrued interest - related parties on the accompanying consolidated balance sheets. *Interest Expense – Related Parties* Total related party interest expense was $27,156 and $25,453 for the three months ended September 30, 2019 and 2018, respectively. Total related party interest expense was $79,370 and $74,123 for the nine months ended September 30, 2019 and 2018, respectively.

6. Convertible Credit Facility - Related Party

9 Months Ended

Sep. 30, 2019

Convertible Credit Facility - Related Party

Note 6 – Convertible Credit Facility – Related Party

Effective July 18, 2012, we entered into a Credit Agreement with Mr. Gibbs, a significant shareholder, providing us with an unsecured credit facility in the maximum amount of $1,000,000. The aggregate principal amount borrowed, together with interest at the rate of 5% per annum, is convertible, at the option of the lender, into common shares at a conversion price of $0.50 per share. Since its inception we have amended the credit agreement several times to either increase the borrowing limit and/or extend the maturity date. Effective September 30, 2019, we amended our credit agreement with Mr. Gibbs to increase the borrowing limit under the convertible credit facility to $2,400,000 and extended the maturity date to December 31, 2019. All other provisions remained unchanged. The modification was not considered substantial.

The Company evaluated the convertible line of credit for derivative and beneficial feature conversion and concluded that there is no beneficial conversion since the conversion price at inception was greater than the market value of shares that would be issued upon conversion. Likewise, derivative accounting did not apply to the embedded conversion option.

The credit facility also contains customary representations and warranties (including those relating to organization and authorization, compliance with laws, payment of taxes and other obligations, absence of defaults, material agreements and litigation) and customary events of default (including those relating to monetary defaults, covenant defaults, cross defaults and bankruptcy events).

Total principal amounts owed under the credit facility notes payable were $2,169,620 and $2,059,620 at September 30, 2019 and December 31, 2018, respectively. Borrowings under our convertible note payable to Mr. Gibbs were $110,000 and $141,500 for the nine months ended September 30, 2019 and 2018, respectively, and were generally used to pay certain mining lease obligations as well as other operating expenses. No principal or interest payments have made to Mr. Gibbs since the inception of the convertible credit facility. As of September 30, 2019 there remained $230,380 of credit available for future borrowings.

Total accrued interest on the notes payable to Mr. Gibbs was $528,288 and $448,918 at September 30, 2019 and December 31, 2018, respectively, and are included in Accrued interest - related parties on the accompanying consolidated balance sheets.

Interest Expense – Related Parties

Total related party interest expense was $27,156 and $25,453 for the three months ended September 30, 2019 and 2018, respectively. Total related party interest expense was $79,370 and $74,123 for the nine months ended September 30, 2019 and 2018, respectively.