Consolidated Balance Sheets (USD $)	Jun. 30, 2011	Dec. 31, 2010
Current assets
Cash and cash equivalents	$ 2,005,023	$ 642,902
Related party receivable	0	27,849
Related party credit facility	0	77,616
Other current assets	829,564	7,899
Total current assets	2,834,587	756,266
Long term assets
Mineral properties	11,057,500	0
Equipment, net	12,705	4,542
Total long term assets	11,070,205	4,542
Total assets	13,904,792	760,808
Current Liabilities
Accounts payable	637,337	270,711
Accrued liabilities	2,355,840	134,164
Derivative warrant liabilities	3,691,373	0
Compound embedded derivative	13,518,240	0
Convertible notes, net of unamortized discount	452,771	1,048,863
Total current liabilities	20,655,561	1,453,738
SHAREHOLDERS' EQUITY
Preferred stock: $0.001 par value; 10,000,000 shares authorized; none outstanding	0	0
Common stock: $0.001 par value; 100,000,000 shares authorized; 21,648,864 and 17,788,638 issued and outstanding at June 30, 2011 and December 31, 2010, respectively	21,649	17,789
Additional paid-in capital	1,905,551	46,610
Losses accumulated in the exploration stage	(18,419,182)	(757,329)
Total shareholders' equity - Prospect Global Resources Inc.	(16,491,982)	(692,930)
Non-controlling interest	9,741,213	0
Total shareholders' equity	(6,750,769)	(692,930)
Total liabilities and shareholders' equity	$ 13,904,792	$ 760,808