Exploration Costs

12 Months Ended

Dec. 31, 2011

Exploration Costs [Abstract]

Exploration Costs

4. EXPLORATION COSTS

GeoCam gained exclusive rights to exploitation of the cobalt and nickel deposits with the granting of a Mining Convention by the government of Cameroon on August 1, 2002. The Mining Convention grants GeoCam the exclusive rights to mine, process, and export cobalt, nickel and related substances from lands subject to a Mining Permit, which was granted by decree on April 11, 2003. The Mining Convention, which has a primary term of 25 years, sets forth all legal and fiscal provisions governing the mining operation. It is renewable under certain conditions for the life of the resource.

The following is a summary of the exploration costs incurred by the Company:

	2011		2010		2009		Unaudited period from Nov. 16, 1994 (inception) to Dec. 31, 2011
Cameroon, Africa:
Property evaluation	$	4,270	$	10,103	$	5,634	$	52,876
Office costs		4,421		4,977		4,297		29,705
		8,691		15,080		9,931		82,581
Other projects:
Colorado and Wyoming		90		251		67		2,066
Arizona		347		533		150		1,295
New Mexico		561		—		—		561
New Caledonia		839		352		670		1,861
Papua New Guinea		266		—		—		266
Other projects		100		83		148		423
		2,203		1,219		1,035		6,472
Total Exploration Costs	$	10,894	$	16,299	$	10,966	$	89,053