CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
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12 Months Ended | ||
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Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2010
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REVENUES | |||
Revenue - Mining | $ 4,504,457 | ||
Revenue - Hospitality | 634,159 | 473,386 | |
Total revenues | 5,138,616 | 473,386 | |
COST AND EXPENSES | |||
Costs applicable to mining revenue | 3,554,727 | ||
Hospitality operating costs | 928,897 | 570,039 | |
Reclamation and exploration expenses | 18,305,303 | 9,501,327 | 3,938,560 |
General and administrative | 9,277,944 | 4,474,726 | 2,104,018 |
Consultants and professional fees | 3,391,379 | 1,481,835 | 1,021,238 |
Total cost and expenses | 35,458,250 | 16,027,927 | 7,063,816 |
LOSS FROM OPERATIONS | (30,319,634) | (15,554,541) | (7,063,816) |
OTHER INCOME (EXPENSE) | |||
Loss on extinguishment of debt | (26,350,890) | ||
Change in fair value of debt beneficial conversion feature | (17,964,161) | ||
Change in fair value of warrant | (2,642,084) | ||
Change in fair value of derivatives | 438,519 | 3,864,146 | (2,869,504) |
Interest expense | (929,837) | (80,630) | (3,291,274) |
Interest income | 17,309 | 72,928 | 24,557 |
Other | 31,370 | 15,785 | (169,247) |
Total 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) |
INCOME TAX BENEFIT | 76,081 | ||
NET LOSS | (30,762,273) | (11,606,231) | (60,326,419) |
DIVIDENDS ON CONVERTIBLE PREFERRED STOCK | (4,370,247) | (4,696,766) | (1,276,902) |
NET LOSS AVAILABLE TO COMMON SHAREHOLDERS | $ (35,132,520) | $ (16,302,997) | $ (61,603,321) |
Net loss per common share - basic | $ (0.87) | $ (0.66) | $ (3.18) |
Net loss per common share - diluted | $ (0.87) | $ (0.66) | $ (3.18) |
Weighted average common shares outstanding - basic | 40,497,098 | 24,640,774 | 19,383,007 |
Weighted average common shares outstanding - diluted | 40,497,098 | 24,640,774 | 19,383,007 |
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- Definition
Cost incurred related to exploration, development, mining, processing and providing mining support activities related to gold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The aggregate direct costs incurred in operating leased, owned and other hotels. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net Increase or Decrease in the fair value of the embedded derivative or group of embedded derivatives included in earnings in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Exploration expenses (including prospecting) related to the mining industry would be included in operating expenses. Exploration costs include costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of mineral reserves. No definition available.
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- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue derived from sale of gold and related products. Also includes rendering of services and selling of products for exploration, development, mining, and processing, as well as supporting activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the period, which was recognized in earnings, in the unrealized gains or losses on derivative instruments that are not or are no longer designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate value of preferred stock dividends and other adjustments necessary to derive net income apportioned to common stockholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount, net of promotional allowances, of revenue from managing and operating hotels, including, but not limited to, revenue from occupancy, casino, food and beverage, and retail. Excludes operating lease income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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