ASSET RETIREMENT OBLIGATIONS (Tables)

6 Months Ended

Jun. 30, 2014

ASSET RETIREMENT OBLIGATIONS

Summary of the changes in the reserve for future restoration and reclamation costs

	June 30,	December 31,
	2014	2013
Balance at beginning  of period	$    3,833,608	$  4,498,057
Changes in cash flow estimates	-	584,025
Costs incurred	(146,723)	(1,638,214)
Accretion expense	101,617	389,740
Balance at ending of period	$    3,788,502	$  3,833,608