ASSET RETIREMENT OBLIGATIONS (Tables)

3 Months Ended

Mar. 31, 2014

ASSET RETIREMENT OBLIGATIONS

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

	March 31,			December 31,
	2014			2013
Balance, January 1, 2014	$	3,833,608		$	4,498,057
Changes in cash flow estimates	—			584,025
Costs incurred	(209		)	(1,638,214		)
Accretion expense	79,179			389,740
Balance, March 31, 2014	$	3,912,578		$	3,833,608