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CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
Jun. 30, 2011
Dec. 31, 2010
Current Assets    
Cash and cash equivalents $ 3,509,933 $ 1,642,340
Accounts receivable 21,035 61,275
Mining supplies inventory 0 3,503
Deposits and prepaids 205,948 178,738
Total Current Assets 3,736,916 1,885,856
Property and Equipment    
Land and tunnels 523,729 523,729
Land improvements 164,758 164,758
Buildings 432,997 432,997
Mining equipment 726,523 588,523
Milling equipment 336,146 333,483
Laboratory equipment 67,728 67,728
Office furniture and equipment 29,398 27,419
Vehicles 86,623 75,013
Less: Accumulated Depreciation (601,870) (481,364)
Total Property and Equipment 1,766,032 1,732,286
Other Assets    
Assets held for sale 445,180 450,042
Deferred financing cost 137,756 146,939
Total Other Assets 582,936 596,981
TOTAL ASSETS 6,085,884 4,215,123
Current Liabilities    
Accounts payable and accrued liabilities 293,017 266,139
Liabilities from discontinued operations 0 1,152
Stock awards payable 178,000 80,000
Current portion of notes payable 153,483 206,209
Current portion of leases payable 85,836 167,956
Total Current Liabilities 710,336 721,456
Long-Term Liabilities    
Long-term portion of notes payable 287,809 361,295
Long-term portion of leases payable 0 10,094
Convertible debt (PIK Notes) 3,250,786 4,683,624
Total Long-Term Liabilities 3,538,595 5,055,013
TOTAL LIABILITIES 4,248,931 5,776,469
Commitments and Contingencies 0 0
Stockholders' Equity (Deficit)    
Preferred stock, $0.001 par value, 10,000,000 shares authorized, noncumulative, nonvoting, nonconvertible, none issued or outstanding 0 0
Common stock, $0.001 par value, 120,000,000 shares authorized, 75,677,789 and 69,704,393 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively 75,679 69,704
Additional paid-in capital 36,922,558 29,860,041
Accumulated deficit prior to the exploration stage (20,009,496) (20,009,496)
Accumulated deficit during the exploration stage (15,204,104) (11,533,915)
Total Applied Minerals, Inc. stockholders' equity (deficit) 1,784,637 (1,613,666)
Non-controlling interest 52,316 52,320
Total Stockholders' Equity (Deficit) 1,836,953 (1,561,346)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 6,085,884 $ 4,215,123