Note 3 - Property, Plant and Equipment

9 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 

3

—PROPERTY, PLANT AND EQUIPMENT

 

The Company’s property, plant and equipment consist of the following:

	September 30, 2018			December 31, 2017
Plant and equipment at cost	$	104,389,458		$	80,454,977
Construction in process		15,150,635			7,625,855
Capitalized mine development cost		37,068,316			30,775,765
Less: Accumulated depreciation and amortization		(12,138,180	)		(3,405,756	)
Total property, plant and equipment, net	$	144,470,229		$	115,450,841

During the

three

months ended

September 30, 2018,

depreciation expense related to our plant and equipment totaled

$2.6

million and amortization of our capitalized development costs totaled

$0.8

million. During the

three

months ended

September 30, 2017,

depreciation expense related to our plant and equipment totaled

$0.8

million and amortization of our capitalized development costs totaled

$0.1

million.

During the

nine

months ended

September 30, 2018,

depreciation expense related to our plant and equipment totaled

$6.9

million and amortization of our capitalized development costs totaled

$1.8

million. During the

nine

months ended

September 30, 2017,

depreciation expense related to our plant and equipment totaled

$1.1

million and amortization of our capitalized development costs totaled

$0.2

million.

Capitalized amounts related to coal reserves at properties where we are 

not

 currently engaged in mining operations totaled 

$5.5

 million as of 

September 30, 2018 

and 

$8.7

 million as of 

December 

31,

 

2017.