Going Concern and Significant Accounting Policies (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2013

Dec. 31, 2012

Notes to Financial Statements

Useful Life

Depreciation is provided to recognize the cost of the asset in the results of operations. The Company calculates depreciation using the straight-line method with estimated useful life as follows:

Item	Useful Life
Vehicles	5 years
Mining equipments	10 years

Depreciation is provided to recognize the cost of the asset in the results of operations. The Company calculates depreciation using the straight-line method with estimated useful life as follows:

Item	Useful Life
Mining equipments	10 years

Fair value of liabilities

The following table summarizes our financial instruments measured at fair value as of June 30, 2013:

	Fair Value Measurements at June 30, 2013
Liabilities:	Total		Level 1		Level 2		Level 3
Commodity derivative at fair value	$	2,590,000	$	2,590,000	$	-	$	-
Convertible notes at fair value	$	302,500	$	-	$	-	$	302,500