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DERIVATIVE LIABILITY (Tables)
6 Months Ended
Jun. 30, 2013
DERIVATIVE LIABILITY  
Schedule of fair value of the derivative liability and the estimated Average Gold Price

 

 

 

 

Fair Value

 

Average Gold
Price ($/oz.)

 

Derivative value at December 31, 2012

 

$

22,400,000

 

$

1,688

 

Unrealized (gain) loss for the period

 

(5,700,000

)

 

 

Derivative value at June 30, 2013

 

$

16,700,000

 

$

1,441