Related-Party Transactions

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements

Related-Party Transactions

11. Related-Party Transactions

Amounts due to related parties at December 31, 2011 and 2010 were as follows:

	2011	2010
Payable to officer for antimony ore	54,131	-
John C. Lawrence, president and director(1)	47,843	18,060
	$101,974	$ 18,060

(1) Transactions affecting the payable to Mr. Lawrence during 2011, 2010 and 2009 were as follows: 

	2011	2010	2009
Balance, beginning of year	$18,060	$   8,394	$324,158
Aircraft rental charges	86,058	129,177	102,049
Conversion of payables and exercise of warrants	-	-	(328,132)
Payments and advances, net	(52,675)	(119,511)	(89,681)
Balance, end of year	$47,843	$ 18,060	$   8,394

In addition to transactions described above and in Note 9, during 2011, 2010, and 2009, the Company had the following transactions with related parties: 

During 2009 a convertible note payable to John C. Lawrence, the Company's president and a director, was converted into 500,000 shares of the Company’s common stock. In addition, during 2009 $200,000 of payable to related parties payable, including outstanding accrued interest payable, was used by Mr. Lawrence to exercise warrants initially issued in connection with the convertible note payable, for the purchase of 1,000,000 shares of common stock. 

During 2011, members of the audit committee were paid $24,000 in cash during 2011. 

During 2011, 2010, and 2009, the Company paid $107,359, $55,469 and $159,995, respectively to a director for development of Mexican mill sites and consulting fees. 

A director of the Company acted as legal counsel to the Company. During the years ended December 31, 2011, 2010 and 2009, the Company paid legal fees and expenses to this director in the amount of $37,083, $32,000 and $23,500, respectively. 

Royalty expense based on sales of zeolite of $45,515, $54,587 and $46,867 was incurred for the years ended December 31, 2011, 2010 and 2009, respectively, to a company controlled by Al Dugan, a significant stockholder and the father of a director.