XML 33 R20.htm IDEA: XBRL DOCUMENT v3.8.0.1
1. Summary of Significant Accounting Policies and Business Operations: Principles of Consolidation (Policies)
12 Months Ended
Dec. 31, 2017
Policies  
Principles of Consolidation

Principles of Consolidation

 

The consolidated financial statements include the accounts of the Company; its wholly owned subsidiaries, Thunder Mountain Resources, Inc. and South Mountain Mines, Inc.; and, effective November 6, 2016, a company in which the Company has majority control, Owyhee Gold Trust, LLC (“OGT”).   Intercompany accounts are eliminated in consolidation.

 

The Company has established 75% ownership and full management of OGT.  Thus, OGT’s financial information is included 100% in the Company’s consolidated financial statements as of December 31, 2016. The Company’s consolidated financial statements reflect the other investor’s 25% non-controlling, capped interest in OGT.   Due to the status of the Company’s investment both before and after the Settlement Agreement, management determined that the settlement should be accounted for as a transaction between companies under common control.     See Note 3 for further information.