5. EQUIPMENT AND LAND

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

EQUIPMENT AND LAND

At December 31, 2013 and 2012 equipment consisted of the following:

	December 31, 2013			December 31, 2012
	Cost	Accumulated depreciation	Net book value	Cost	Accumulated depreciation	Net book value
Computer equipment	$         169	$              118	$       51	$          167	$               77	$       90
Furniture	111	48	63	111	27	84
Geological equipment	488	217	271	357	125	232
Vehicles	208	72	136	144	33	111
	$         976	$             455	$     521	$          779	$             262	$     517

At June 30, 2012 and 2011 equipment consisted of the following:

	For the fiscal years ended June 30,
	2012			2011
	Cost	Accumulated depreciation	Net book value	Cost	Accumulated depreciation	Net book value
Computer equipment	$         160	$               46	$           114	$          46	$               13	$          33
Furniture	98	19	79	45	4	41
Geological equipment	359	70	289	97	26	71
Vehicles	144	18	126	-	-	-
	$         761	$             153	$           608	$        188	$               43	$        145

Depreciation expense for the year ended December 31, 2013 and six-month period ended December 31, 2012 was $197 and $90, respectively. Depreciation expense for the fiscal years ended June 30, 2012 and 2011 was $123 and $38, respectively. We evaluate the recoverability of the carrying value of equipment when events and circumstances indicate that such assets might be impaired.

On April 29, 2013, we completed a land acquisition from the State of Wyoming in conjunction with a third-party land exchange resulting in an additional 640 acres owned by the Company and subject to a royalty retained by the State of Wyoming. The royalty is a non-participating interest at the royalty rate commensurate with the state or federal royalty rate for any such mineral(s), whichever is higher, at the time of development. The property is immediately adjacent to our mine site, and the cash consideration paid was $980.