OTHER LONG-TERM LIABILITIES AND DEFERRED CREDITS

12 Months Ended

Dec. 31, 2012

OTHER LONG-TERM LIABILITIES AND DEFERRED CREDITS

OTHER LONG-TERM LIABILITIES AND DEFERRED CREDITS

11. OTHER LONG-TERM LIABILITIES AND DEFERRED CREDITS

        Other long-term liabilities and deferred credits on the balance sheet consisted of:

	December 31,
	2012		2011
Reserve for future restoration and reclamation costs (Asset Retirement Obligations), net of current portion of $1,160,000 and $1,227,000 in 2012 and 2011, respectively. (Note 2)	$	3,337,679	$	3,508,634
Royalties payable		500,000		500,000
	$	3,837,679	$	4,008,634