|
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
|
Sep. 30, 2012
|
Dec. 31, 2011
|
| CURRENT ASSETS: |
|
|
| Cash and cash equivalents |
$ 3,187,701 |
$ 6,955,010 |
| Available-for-sale securities |
740,939 |
2,211,287 |
| Inventories |
1,186,545 |
|
| Stockpiles and mineralized material on leach pads |
2,085,296 |
|
| Prepaid expenses and other current assets |
853,370 |
1,842,479 |
| Total current assets |
8,053,851 |
11,008,776 |
| MINERAL RIGHTS AND PROPERTIES, Net |
7,689,780 |
4,869,683 |
| PROPERTIES, PLANT AND EQUIPMENT, Net |
20,779,865 |
9,383,723 |
| RECLAMATION BOND DEPOSIT |
2,473,474 |
721,748 |
| RETIREMENT OBLIGATION ASSET |
3,010,409 |
825,481 |
| OTHER ASSETS |
145,330 |
164,741 |
| TOTAL ASSETS |
42,152,709 |
26,974,152 |
| CURRENT LIABILITIES: |
|
|
| Accounts payable |
2,830,055 |
1,755,381 |
| Accrued expenses |
7,129,975 |
4,151,410 |
| Long-term debt obligations - current portion |
7,431,601 |
138,245 |
| Derivative liabilities |
1,387,618 |
|
| Total current liabilities |
18,779,249 |
6,045,036 |
| LONG-TERM LIABILITIES: |
|
|
| Long-term debt obligations |
6,651,335 |
1,298,836 |
| Derivative liability - contingent dividend payment |
|
1,025,000 |
| Long-term reclamation liability |
4,527,043 |
2,007,605 |
| Total long-term liabilities |
11,178,378 |
4,331,441 |
| Total liabilities |
29,957,627 |
10,376,477 |
| COMMITMENTS AND CONTINGENCIES |
|
|
| STOCKHOLDERS' EQUITY: |
|
|
| Common stock, $.000666 par value, 3,950,000,000 shares authorized, 43,282,870 and 28,990,630 shares issued and outstanding at September 30, 2012 and December 31, 2011, respectively |
28,826 |
19,308 |
| Additional paid-in capital |
164,334,382 |
143,439,370 |
| Accumulated deficit |
(152,168,164) |
(126,861,042) |
| Total stockholders' equity |
12,195,082 |
16,597,675 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
42,152,709 |
26,974,152 |
|
Convertible Preferred Stock [Member] | 7.5% Series A-1 Convertible Preferred Stock [Member]
|
|
|
| STOCKHOLDERS' EQUITY: |
|
|
| Convertible Preferred Stock |
15 |
15 |
|
Convertible Preferred Stock [Member] | 7.5% Series A-2 Convertible Preferred Stock [Member]
|
|
|
| STOCKHOLDERS' EQUITY: |
|
|
| Convertible Preferred Stock |
4 |
4 |
|
Convertible Preferred Stock [Member] | 7.5% Series B convertible preferred stock [Member]
|
|
|
| STOCKHOLDERS' EQUITY: |
|
|
| Convertible Preferred Stock |
$ 19 |
$ 20 |