INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		2012		2011
Current:
Federal	$	–	$	–
State		–		–
Total current income tax expense		–		–
Deferred:
Federal		–		–
State		–		–
Total deferred income tax expense		–		–
Total	$	–	$	–

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2012		2011
Federal statutory rate	35%		35%
State income taxes, net of federal benefits	5%		5%
Valuation allowance	(40	)%	(40	)%
Total	–%		–%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		2012			2011
Net operating loss carry forwards	$	29,050,000		$	26,660,000
Other tax credits		1,040,000			1,040,000
Stock based compensation		800,000			807,000
Asset impairment		337,000
Accrued payroll expense		51,000			51,000
Losses on derivatives		6,370,000			6,392,000
Inventory		350,000			118,000
Accrued reclamation expense		373,000			214,000
Other		6,000			10,000
Valuation allowance		(38,127,000	)		(34,805,000	)
Total deferred tax asset		250,000			487,000
Depreciation and amortization		(250,000	)		(487,000	)
Total deferred tax liability		(250,000	)		(487,000	)
Net deferred tax asset	$	–		$	–