9. DEBT (Tables)

6 Months Ended

Jun. 30, 2012

Debt Tables

DEBT

The following table sets forth the consolidated indebtedness of Casablanca and Santa Teresa Minerals at the date indicated. Inter-company transactions have been eliminated in the consolidated balance sheets:

Description	Terms		Balance Due at June 30 2012		Balance Due at December 31, 2011
Angelique de Maison Loan	No Set Terms	$	–	$	860,000
Suprafin Short Term Advance	No Set Terms - Repaid in 30 Days		–		241,064
Loan with Metales Acer LTDA 4/30/10	Interest Free, No Repayment Date		197,175		38,446
Note to Juan Carlos Camus	See Note 4		1,000,000		1,000,000
	Total Related Party Debt	$	1,197,175	$	2,139,510
Line of Credit with Banco Security	Due 10/9/12 - 8.2%	$	30,102	$	29,014
Line of Credit with Banco Security	Due 8/20/12 - 8.8%		137,349		133,627
Line of Credit with Banco Security	Due 8/20/12 - 8.8%		181,785		175,443
Line of Credit with Banco Security	Due 6/28/13 - 8.8%		9,554		–
MasterCard Credit Card with Banco Security	Revolving Credit Card		1,861		2,810
	Total Loans Payable	$	360,651	$	340,894
	Total Debt	$	1,557,826	$	2,480,404