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PROPERTY AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2012

Schedule of Property, Plant and Equipment [Table Text Block]

		June 30,			December 31,
		2012			2011
		(unaudited)
Land	$	87,114		$	87,114
Buildings		2,071,618			2,071,618
Mine development costs – existing dumps
		468,034			468,034
Mine development costs – new dumps		1,841,080			1,841,080
Asset retirement obligation		2,708,870			2,708,870
Mining and other equipment		43,366,814			43,341,482
Total		50,543,530			50,518,198

Accumulated depreciation, depletion and amortization		(6,519,664	)		(6,313,728	)
Net property and equipment	$	44,023,866		$	44,204,470

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References+ Details