Note 5 - Asset Held for Sale

9 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Asset Held for Sale [Text Block]

NOTE 5

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ASSET HELD FOR SALE

During the third quarter of 2015, the Company reclassified its non-core Atlas Mine properties, located in and around Mullan, ID, from land and mining property to asset held for sale as the Company is exploring various strategic options to further monetize the value of the land and any associated mineral resources. Upon transfer, the carrying value of the mine was tested for impairment, noting fair value exceeded the carrying value and therefore no impairment was necessary. As of September 30, 2015, the Company recorded $445,180 as asset held for sale.