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(7) Employee Benefits
12 Months Ended
Dec. 31, 2011
Compensation and Employee Benefit Plans [Text Block]
(7)           Employee Benefits

We have no defined benefit pension plans or any post-retirement benefit plans.  We offer our employees a 401(k) Plan, where we match 100% of the first 4% that an employee contributes, a bonus plan based on meeting certain production levels and a discretionary Deferred Bonus Plan for certain key employees.  We also offer health benefits to all employees and their families.  Our 2011 costs for the 401(k) matching were about $458,000 and our costs for health benefits were about $3.1 million. Our 2010 costs for the 401(k) matching were about $320,000 and our costs for health benefits were about $2.1 million.   The 2011 amortized costs for the Deferred Bonus Plan were about $254,000 and the 2010 amortized costs were about $180,000. The costs for the production bonus plan were $910,000 in 2011 and $328,000 in 2010.

Our mine employees are also covered by workers’ compensation and such costs for 2011 and 2010 were about $1.3 million and $1.5 million, respectively. Workers’ compensation is a no-fault system by which individuals who sustain work related injuries or occupational diseases are compensated. Benefits and coverage are mandated by each state which include disability ratings, medical claims, rehabilitation services, and death and survivor benefits.  Our operations are protected from these perils through insurance policies.  Our maximum annual exposure is limited to $1 million per employee with a $4 million aggregate deductible.  Based on discussions and representations from our insurance carrier we believe that our reserve for our workers’ compensation benefits are adequate.  We have a safety conscious work force and our worker’s compensation injuries have been minimal.   Our mine has been in operation for about five years.