Mining and Mineral Rights

12 Months Ended

Dec. 31, 2018

Extractive Industries [Abstract]

MINING AND MINERAL RIGHTS

NOTE 3 – MINING AND MINERAL RIGHTS

The Company will need to finish preparing the Tonopah property site for the construction of a permitted custom processing toll milling facility including our planned 21,875 square foot building and servicing and drilling various wells for our future operations.

The Company has continued to assess the realizability of its mining and mineral rights. Based on an assessment the Company conducted in November 2019, the Company determined its land, mineral rights and water rights are inseparable and depend on each other in value creation, during the nine months ended September 30, 2018, the Company combined the carrying value the assets to present them more clearly to their intended use together:

FORMERLY -
Property, Plant and Equipment:
Shea Mining & Milling asset purchase	$	2,108,300
Equipment, net of $21,000 accumulated depreciation.		0
Construction in progress		1,775,224
	$	3,883,524
NOW -
Mining Assets and Mineral Rights	$	3,883,524

The Tonopah property is subject to a first deed of trust securing a $2,500,000 promissory note in default plus interest accrued through December 31, 2018 of $ 1,096,235 currently held by Granite Peak Resources, LLC ("GPR") (formerly held by Pure Path Capital Management Company LLC until March 2019, see Subsequent Events), a related party. In addition, the Company entered into a Forbearance Agreement with GPR effective December 20, 2019. GPR has agreed to forbear any foreclosure proceedings for six months in exchange for the Company pledging the stock of its subsidiary and its subsidiaries as additional collateral under its outstanding obligations.