Note 3 - Property, Plant and Equipment

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 

3

—PROPERTY, PLANT AND EQUIPMENT

 

The Company’s property, plant and equipment consist of the following:

	June 30, 2018			December 31, 2017
Plant and equipment at cost	$	97,470,650		$	80,454,977
Construction in process		12,032,525			7,625,855
Capitalized mine development cost		35,870,022			30,775,765
Less accumulated depreciation and amortization		(8,798,639	)		(3,405,756	)
Total property, plant and equipment, net	$	136,574,558		$	115,450,841

During the

three

months ended

June 30, 2018,

depreciation expense related to our plant and equipment totaled

$2.3

million and amortization of our capitalized development expenses totaled

$0.6

million. During the

three

months ended

June 30, 2017,

depreciation expense related to our plant and equipment totaled

$0.2

million and amortization of our capitalized development expenses totaled

$0.1

million.

During the

six

months ended

June 30, 2018,

depreciation expense related to our plant and equipment totaled

$4.4

million and amortization of our capitalized development expenses totaled

$1.0

million. During the

six

months ended

June 30, 2017,

depreciation expense related to our plant and equipment totaled

$0.4

million and amortization of our capitalized development expenses totaled

$0.1

million.

Capitalized amounts related to coal reserves at properties where we are 

not

 currently engaged in mining operations totaled 

$6.1

 million as of 

June 30, 2018 

and 

$8.7

 million as of 

December 

31,

 

2017.