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Segment Reporting
12 Months Ended
Dec. 31, 2012
Segment Reporting [Abstract]  
Segment Reporting

17. Segment Reporting

 

Our management organizes the Company into two operating segments, mining and hospitality. Our mining segment consists of all activities and expenditures associated with mining. Our hospitality segment consist of hotel rooms, cottages, restaurant, bar and other services provided by Gold Hill Hotel. We evaluate the performance of our operating segments based on operating income (loss). All intercompany transactions have been eliminated, and intersegment revenues are not significant. Financial information relating to our reportable operating segments and reconciliation to the consolidated totals is as follows:

 

    Year Ended  
    December 31,  
    2012     2011     2010  
Revenues                        
Mining   $ 4,504,457     $ -     $ -  
Hospitality     634,159       473,386       -  
Total revenues     5,138,616       473,386       -  
                         
Cost and Expenses                        
Mining   $ (34,529,353 )   $ (15,457,888 )   $ (7,063,816 )
Hospitality     (928,897 )     (570,039 )     -  
Total cost and expenses     (35,458,250 )     (16,027,927 )     (7,063,816 )
                         
Operating Loss                        
Mining   $ (30,024,896 )   $ (15,457,888 )   $ (7,063,816 )
Hospitality     (294,738 )     (96,653 )     -  
Total loss from operations     (30,319,634 )     (15,554,541 )     (7,063,816 )
                         
Other income (expense), net     (442,639 )     3,872,229       (53,262,603 )
                         
Loss before income taxes   $ (30,762,273 )   $ (11,682,312 )   $ (60,326,419 )
                         
Capital Expenditures                        
Mining   $ 15,639,241     $ 9,217,547     $ 1,101,515  
Hospitality     301,000       1,087,622       -  
Total capital expenditures   $ 15,940,241     $ 10,305,169     $ 1,101,515  
                         
Depreciation, Depletion and Amortization                        
Mining   $ 2,380,251     $ 199,287     $ 131,785  
Hospitality     122,896       70,262       -  
Total depreciation, depletion and amortization   $ 2,503,147     $ 269,549     $ 131,785  

 

    As of December 31,  
    2012     2011     2010  
Assets                        
Mining   $ 46,606,912     $ 25,824,143     $ 37,121,524  
Hospitality     1,257,633       1,150,009       -  
    $ 47,864,545     $ 26,974,152     $ 37,121,524  

 

For the year ended December 31, 2012, 100% of the mining revenues were attributable to one customer.