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5. Property and Equipment (Tables)

9 Months Ended

Sep. 30, 2012

Note 5 – Property and Equipment

The Company acquired property and equipment with a fair value of $7,331,655 in the Bluestone Acquisition in March 2012. See Note 4 - Bluestone Acquisition. The following table sets forth our property and equipment at the date indicated. These assets, with the exception of land which is not depreciable, are being depreciated over their remaining useful lives.

	September 30, 2012
Buildings	$	167,569
Furniture & Fixtures		23,348
Vehicles		133,643
Mining Equipment		426,501
Plants/Property Improvements		4,276,913
Computers		36,520
Lab Equip		66,809
Total fixed assets	$	5,131,303
Less depreciation		(100,867	)
Net fixed assets	$	5,030,436

Land	$	595,137
Mining property	$	3,784,215
Net property and equipment	$	9,409,788

- 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.

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