Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 31, 2014 | Jun. 30, 2013 | |
Document Information [Line Items] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Entity Registrant Name | 'AURORA GOLD CORP | ' | ' |
Entity Central Index Key | '0001037049 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 51,188,990 | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Public Float | ' | ' | $1,176,337 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Current assets | ' | ' |
Cash | $55,161 | $3,963,836 |
Prepayments | 69,519 | 67,910 |
Total current assets | 124,680 | 4,031,746 |
Non current assets | ' | ' |
Vehicles and other equipment, net | 377,532 | 97,916 |
Land Possession Rights | 53,323 | 0 |
Total non current assets | 430,855 | 97,916 |
Total assets | 555,535 | 4,129,662 |
Current liabilities | ' | ' |
Accounts payable and accrued expenses | 185,267 | 119,123 |
Accounts payable and accrued expenses - related party | 10,800 | 126,220 |
Advances payable - related party | 32,000 | 32,000 |
Total current liabilities | 228,067 | 277,343 |
Stockholders' Equity (Deficiency) | ' | ' |
Common stock with par value of $0.005 each Authorized: 300,000,000 (Dec 31, 2012: 300,000,000) Issued and outstanding: 49,828,942 (Dec 31, 2012: 49,828,942) | 249,146 | 249,146 |
Additional paid-in capital | 27,211,349 | 27,211,349 |
Accumulated other comprehensive income (loss) | -126,564 | -7,202 |
Accumulated deficit during the exploration stage | -27,006,463 | -23,600,974 |
Total stockholders' equity (deficiency) | 327,468 | 3,852,319 |
Total liabilities and stockholders' equity (deficiency) | $555,535 | $4,129,662 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, par value per share | $0.01 | $0.01 |
Common stock, shares issued | 49,828,942 | 49,828,942 |
Common stock, shares outstanding | 49,828,942 | 49,828,942 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 12 Months Ended | 219 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Operating expenses | ' | ' | ' |
Independent directors fees | $43,338 | $0 | ' |
Professional fees - audit, legal, company secretary | 618,294 | 125,838 | ' |
Investor relations, listing and filing fees | 200,563 | 0 | ' |
Travel and accommodation | 178,852 | 0 | ' |
Salaries, management and consulting fees | 556,017 | 447,088 | ' |
Telecommunication costs | 4,548 | 0 | ' |
Other general and administrative | 88,322 | 380,439 | ' |
Total general and administration | 1,689,934 | 953,365 | 10,259,421 |
Depreciation and amortization | 42,176 | 5,129 | 192,431 |
Interest and bank charges | 8,253 | 2,525 | 405,035 |
Imputed interest on loan payable - related party | 0 | 0 | 1,560 |
Foreign exchange loss (gain) | -11,630 | 1,563 | -25,386 |
Exploration expenses | 1,682,767 | 332,785 | 11,746,892 |
Property search and negotiation | 0 | 0 | 479,695 |
Write-off of equipment | 0 | 0 | 240,338 |
Total Operating Expenses | 3,411,500 | 1,295,367 | 23,299,986 |
Other income (expense) | ' | ' | ' |
Gain (loss) on disposition of subsidiary | 0 | 0 | -2,541,037 |
Interest income | 6,011 | 133 | 28,497 |
Gain on sale of rights to Matupa agreement, net | 0 | 0 | 80,237 |
Loss on investments | 0 | 94,860 | -37,971 |
Loss on spun-off operations | 0 | 0 | -316,598 |
Loss on extinguishment of liabilities | 0 | 0 | -919,605 |
Total other income (loss) | 6,011 | 94,993 | -3,706,477 |
Net Loss | -3,405,489 | -1,200,374 | -27,006,463 |
Other comprehensive income (loss) | 0 | 0 | ' |
Foreign currency translation adjustments | -119,362 | 63,323 | ' |
Comprehensive income (loss) | ($3,524,851) | ($1,137,051) | ' |
Net Loss Per Share - Basic and Diluted (in dollars per share) | ($0.07) | ($0.04) | ' |
Weighted Average Shares Outstanding - Basic and Diluted (in shares) | 49,828,942 | 29,052,382 | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | 219 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Cash Flows From Operating Activities | ' | ' | ' |
Net loss for the period | ($3,405,489) | ($1,200,374) | ($27,006,463) |
Adjustments to reconcile net loss to cash used in operating activities | ' | ' | ' |
Depreciation and amortization | 42,176 | 5,129 | 192,431 |
Stock compensation expense on stock option grants | 0 | 55,660 | 1,624,012 |
Expenses satisfied with issuance of common stock | 0 | 0 | 1,202,054 |
Expenses satisfied with transfer of marketable securities | 0 | 0 | 33,903 |
Imputed interest on loan payable - related parties | 0 | 0 | 1,560 |
Write-off of equipment | 0 | 0 | 240,338 |
Adjustment for spin-off of Aurora Metals (BVI) Limited | 0 | 0 | 316,498 |
Loss on disposal of subsidiary | 0 | 0 | 2,757,511 |
Realized loss on investments | 0 | 0 | 37,971 |
Gain on sale of rights to Matupa agreement (net) | 0 | 0 | -80,237 |
(Gain) loss on extinguishment of liabilities | 0 | 0 | 919,605 |
Foreign exchange (gain) loss related to notes payable | 0 | 0 | -24,534 |
Change in operating assets and liabilities | ' | ' | ' |
Decrease (increase) in receivables and other assets | 0 | 0 | -206,978 |
(Increase) decrease in prepaid expenses and other assets | -1,609 | -67,910 | -89,977 |
Increase (decrease) in accounts payable and accrued expenses (including related party) | -49,276 | 6,013 | 1,063,787 |
Net Cash Used in Operating Activities | -3,414,198 | -1,296,342 | -19,018,522 |
Cash Flows From Investing Activities | ' | ' | ' |
Purchase of equipment and land possession rights | -375,115 | -103,045 | -683,505 |
Proceeds on disposal of equipment | 0 | 0 | 16,761 |
Payment for mineral property Reclamation Bonds | 0 | 0 | -245,221 |
Proceeds from disposition of marketable securities | 0 | 0 | 32,850 |
Acquisition of mineral property costs and related equipment | 0 | 0 | -672,981 |
Payment for incorporation cost | 0 | 0 | -11,511 |
Net CashProvided by (used in) Investing Activities | -375,115 | -103,045 | -1,563,607 |
Cash Flows From Financing Activities | ' | ' | ' |
Proceeds from common stock less issuance costs | 0 | 5,096,473 | 19,140,912 |
Loan proceeds from related party | 0 | 0 | 289,000 |
Net proceeds from (payments on) convertible notes and loans | 0 | 0 | 969,252 |
Net proceeds from (payments on) advances payable | 0 | 0 | 45,000 |
Net proceeds from (payments on) advances payable - related parties | 0 | 0 | 92,000 |
Net Cash Provided by Financing Activities | 0 | 5,096,473 | 20,536,164 |
Effect of exchange rate changes on Cash and Cash Equivalents | -119,362 | 29,324 | 101,126 |
(Decrease) Increase in Cash | -3,908,675 | 3,726,410 | 55,161 |
Cash at Beginning of Period | 3,963,836 | 237,426 | ' |
Cash at End of Period | $55,161 | $3,963,836 | $55,161 |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIENCY) (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Advances for Stock Subscriptions [Member] | Accumulated (Deficit) during Exploration Stage [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | First Equity Issuance [Member] | First Equity Issuance [Member] | First Equity Issuance [Member] | First Equity Issuance [Member] | First Equity Issuance [Member] | First Equity Issuance [Member] | Second Equity Issuance [Member] | Second Equity Issuance [Member] | Second Equity Issuance [Member] | Second Equity Issuance [Member] | Second Equity Issuance [Member] | Second Equity Issuance [Member] | Third Equity Issuance [Member] | Third Equity Issuance [Member] | Third Equity Issuance [Member] | Third Equity Issuance [Member] | Third Equity Issuance [Member] | Third Equity Issuance [Member] |
Common Stock [Member] | Additional Paid-in Capital [Member] | Advances for Stock Subscriptions [Member] | Accumulated (Deficit) during Exploration Stage [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Advances for Stock Subscriptions [Member] | Accumulated (Deficit) during Exploration Stage [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Advances for Stock Subscriptions [Member] | Accumulated (Deficit) during Exploration Stage [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||||||||
Balance at Oct. 09, 1995 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, (in shares) at Oct. 09, 1995 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | 11,461 | 11,461 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness, shares | ' | 2,292,231 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 1995 | 11,461 | 11,461 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 1995 | ' | 2,292,231 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustment for reverse stock split | -7,641 | -7,641 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustment for reverse stock split, shares | ' | -1,528,153 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | 347,561 | 5,800 | 341,761 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash, Shares | ' | 1,160,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- resource property | 3,000 | 300 | 2,700 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- resource property, shares | ' | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -361,208 | ' | ' | ' | -361,208 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 1996 | -6,827 | 9,920 | 344,461 | ' | -361,208 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 1996 | ' | 1,984,077 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | 745,158 | 750 | 744,408 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash, Shares | ' | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -615,880 | ' | ' | ' | -615,880 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 1997 | 122,451 | 10,670 | 1,088,869 | ' | -977,088 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 1997 | ' | 2,134,077 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | 68,697 | 96 | 68,601 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness, shares | ' | 19,221 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | ' | ' | ' | ' | ' | ' | 250,000 | 200 | 249,800 | ' | ' | ' | 53,750 | 72 | 53,678 | ' | ' | ' | 107,500 | 143 | 107,357 | ' | ' | ' |
- cash, Shares | ' | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' | ' | 14,333 | ' | ' | ' | ' | ' | 28,667 | ' | ' | ' | ' |
Grant of options to employees and directors | 518,900 | ' | 518,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Grant of options to consultants | 172,100 | ' | 172,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -1,151,604 | ' | ' | ' | -1,151,604 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 1998 | 141,794 | 11,181 | 2,259,304 | ' | -2,128,692 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 1998 | ' | 2,236,298 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | 160,382 | 231 | 160,151 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness, shares | ' | 46,257 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | 15,000 | 23 | 14,977 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash, Shares | ' | 4,574 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- finder's fees and expenses | 20,312 | 25 | 20,287 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- finder's fees and expenses, shares | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Grant of options to consultants | 29,500 | ' | 29,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash advanced on stock subscriptions | 425,000 | ' | ' | 425,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -855,391 | ' | ' | ' | -855,391 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 1999 | -63,403 | 11,461 | 2,484,219 | 425,000 | -2,984,083 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 1999 | ' | 2,292,130 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | 99,500 | 199 | 99,301 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness, shares | ' | 39,800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | ' | ' | ' | ' | ' | ' | ' | 350 | 174,650 | -175,000 | ' | ' | ' | 550 | 249,450 | -250,000 | ' | ' | ' | ' | ' | ' | ' | ' |
- cash, Shares | ' | ' | ' | ' | ' | ' | ' | 70,000 | ' | ' | ' | ' | ' | 110,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancellation of shares in April 2000 | -56,691 | -91 | -56,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancellation of shares in April 2000, Shares | ' | -18,141 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options | 4,050 | 405 | 3,645 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of options, shares | ' | 81,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Spin-off of Aurora Metals (BVI) Limited | 316,498 | ' | 316,498 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -677,705 | ' | ' | ' | -677,705 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2000 | -377,751 | 12,874 | 3,271,163 | ' | -3,661,788 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2000 | ' | 2,574,789 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | 128,545 | ' | ' | ' | 128,545 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- Unrealized holding losses on available-for-sale securities | -141,928 | ' | ' | ' | ' | -141,928 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2001 | -391,134 | 12,874 | 3,271,163 | ' | -3,533,243 | -141,928 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, (in shares) at Dec. 31, 2001 | ' | 2,574,789 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | 355,200 | 3,708 | 351,492 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness, shares | ' | 741,608 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -137,329 | ' | ' | ' | -137,329 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- Unrealized holding losses on available-for-sale securities | 141,928 | ' | ' | ' | ' | 141,928 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2002 | -31,335 | 16,582 | 3,622,655 | ' | -3,670,572 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2002 | ' | 3,316,396 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | 117,558 | 2,752 | 114,806 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness, shares | ' | 550,490 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | 25,000 | 100 | 24,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash, Shares | ' | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -96,404 | ' | ' | ' | -96,404 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2003 | 14,819 | 19,434 | 3,762,361 | ' | -3,766,976 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2003 | ' | 3,886,886 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | 22,500 | 100 | 22,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash, Shares | ' | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Imputed interest | 1,560 | ' | 1,560 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -223,763 | ' | ' | ' | -223,763 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2004 | -184,884 | 19,534 | 3,786,321 | ' | -3,990,739 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2004 | ' | 3,906,886 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | 162,500 | 3,684 | 158,816 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness, shares | ' | 736,818 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | 650,000 | 13,000 | 637,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash, Shares | ' | 2,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -457,271 | ' | ' | ' | -457,271 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- Unrealized holding losses on available-for-sale securities | -4,614 | ' | ' | ' | ' | -4,614 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2005 | 165,731 | 36,218 | 4,582,137 | ' | -4,448,010 | -4,614 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2005 | ' | 7,243,704 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | ' | ' | ' | ' | ' | ' | 3,890,000 | 8,000 | 3,882,000 | ' | ' | ' | 500,000 | 1,000 | 499,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash, Shares | ' | ' | ' | ' | ' | ' | ' | 1,600,000 | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- finder's fees and expenses | 175,000 | 250 | 174,750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- finder's fees and expenses, shares | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -5,463,855 | ' | ' | ' | -5,463,855 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- Foreign currency translation adjustments | -3,692 | ' | ' | ' | ' | -3,692 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- Reclassification adjustment for losses on available-for-sale securities included in net loss | 4,614 | ' | ' | ' | ' | 4,614 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2006 | -732,202 | 45,468 | 9,137,887 | ' | -9,911,865 | -3,692 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2006 | ' | 9,093,704 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | 50,000 | 250 | 49,750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness, shares | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | ' | ' | ' | ' | ' | ' | 250,000 | 500 | 249,500 | ' | ' | ' | 1,250,000 | 5,000 | 1,245,000 | ' | ' | ' | 800,000 | 4,000 | 796,000 | ' | ' | ' |
- cash, Shares | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | 800,000 | ' | ' | ' | ' |
Stock option compensation expense | 454,295 | ' | 454,295 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -3,259,732 | ' | ' | ' | -3,259,732 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- Foreign currency translation adjustments | -65,255 | ' | ' | ' | ' | -65,255 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2007 | -1,252,894 | 55,218 | 11,932,432 | ' | -13,171,597 | -68,947 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2007 | ' | 11,043,704 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | 156,200 | 2,603 | 153,597 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness, shares | ' | 520,667 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- finder's fees and expenses | 25,000 | 250 | 24,750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- finder's fees and expenses, shares | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -520,105 | ' | ' | ' | -520,105 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- Foreign currency translation adjustments | 36,259 | ' | ' | ' | ' | 36,259 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2008 | -1,555,540 | 58,071 | 12,110,779 | ' | -13,691,702 | -32,688 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2008 | ' | 11,614,371 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | ' | ' | ' | ' | ' | ' | 1,753,616 | 5,000 | 1,748,616 | ' | ' | ' | 17,999 | 100 | 17,899 | ' | ' | ' | 35,761 | 150 | 35,611 | ' | ' | ' |
- settlement of indebtedness, shares | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | 20,000 | ' | ' | ' | ' | ' | 30,000 | ' | ' | ' | ' |
- cash | ' | ' | ' | ' | ' | ' | 258,000 | 3,000 | 255,000 | ' | ' | ' | 42,000 | 420 | 41,580 | ' | ' | ' | 500,000 | 1,667 | 498,333 | ' | ' | ' |
- cash, Shares | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | 84,000 | ' | ' | ' | ' | ' | 333,333 | ' | ' | ' | ' |
Net (loss) for the period | -1,779,477 | ' | ' | ' | -1,779,477 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- Foreign currency translation adjustments | -60,171 | ' | ' | ' | ' | -60,171 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2009 | -787,812 | 68,408 | 14,707,818 | ' | -15,471,179 | -92,859 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, (in shares) at Dec. 31, 2009 | ' | 13,681,704 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | ' | ' | ' | ' | ' | ' | 48,150 | 161 | 47,989 | ' | ' | ' | 97,620 | 325 | 97,295 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness, shares | ' | ' | ' | ' | ' | ' | ' | 32,100 | ' | ' | ' | ' | ' | 65,080 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | 3,895,000 | 14,110 | 3,880,890 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash, Shares | ' | 2,821,889 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- finder's fees and expenses | ' | ' | ' | ' | ' | ' | 60,000 | 200 | 59,800 | ' | ' | ' | 150,000 | 500 | 149,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- finder's fees and expenses, shares | ' | ' | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- non cash property acquisition in June 2010 | 2,000,000 | 5,000 | 1,995,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- non cash property acquisition in June 2010, shares | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -2,302,083 | ' | ' | ' | -2,302,083 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- Foreign currency translation adjustments | -198 | ' | ' | ' | ' | -198 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2010 | 3,160,677 | 88,704 | 20,938,292 | ' | -17,773,262 | -93,057 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2010 | ' | 17,740,774 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | ' | ' | ' | ' | ' | ' | 24,000 | 150 | 23,850 | ' | ' | ' | 218,755 | 10,938 | 207,817 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness, shares | ' | ' | ' | ' | ' | ' | ' | 30,000 | ' | ' | ' | ' | ' | 2,187,544 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | ' | ' | ' | ' | ' | ' | 167,100 | 1,671 | 165,429 | ' | ' | ' | 320,000 | 8,000 | 312,000 | ' | ' | ' | 20,000 | ' | ' | 20,000 | ' | ' |
- cash, Shares | ' | ' | ' | ' | ' | ' | ' | 334,200 | ' | ' | ' | ' | ' | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- finder's fees and expenses | 499 | 450 | 49 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- finder's fees and expenses, shares | ' | 90,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock option compensation expense | 393,557 | ' | 393,557 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -4,627,338 | ' | ' | ' | -4,627,338 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- Foreign currency translation adjustments | 22,532 | ' | ' | ' | ' | 22,532 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2011 | -300,218 | 109,913 | 22,040,994 | 20,000 | -22,400,600 | -70,525 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2011 | ' | 21,982,518 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness | ' | ' | ' | ' | ' | ' | 119,454 | 1,991 | 117,463 | ' | ' | ' | 18,000 | 300 | 17,700 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- settlement of indebtedness, shares | ' | ' | ' | ' | ' | ' | ' | 398,180 | ' | ' | ' | ' | ' | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- cash | ' | ' | ' | ' | ' | ' | 17,513 | ' | ' | 17,513 | ' | ' | 78,960 | 1,316 | 77,644 | ' | ' | ' | 5,000,000 | 135,000 | 4,865,000 | ' | ' | ' |
- cash, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 263,200 | ' | ' | ' | ' | ' | 27,000,000 | ' | ' | ' | ' |
Cash advanced on stock subscriptions | ' | 625 | 36,888 | -37,513 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock in April 2012 for Advances for Stock Subscriptions, shares | ' | 125,044 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock option compensation expense | 55,660 | ' | 55,660 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -1,200,374 | ' | ' | ' | -1,200,374 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- Foreign currency translation adjustments | 63,323 | ' | ' | ' | ' | 63,323 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2012 | 3,852,319 | 249,146 | 27,211,349 | ' | -23,600,974 | -7,202 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2012 | ' | 49,828,942 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) for the period | -3,405,489 | ' | ' | ' | -3,405,489 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
- Foreign currency translation adjustments | -119,362 | ' | ' | ' | ' | -119,362 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2013 | $327,468 | $249,146 | $27,211,349 | ' | ($27,006,463) | ($126,564) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2013 | ' | 49,828,942 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_STO1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIENCY) (Parenthetical) (USD $) | 1 Months Ended | ||
Apr. 30, 2010 | Feb. 28, 2006 | Mar. 31, 1997 | |
Issuance of common stock, issuance date | ' | ' | 31-Mar-97 |
Payments of Stock Issuance Costs | ' | $110,000 | $4,842 |
Payments for Fees | $225,222 | ' | ' |
Organization_Business_Strategy
Organization, Business Strategy and Going Concern | 12 Months Ended | |
Dec. 31, 2013 | ||
Organization, Business Strategy and Going Concern [Abstract] | ' | |
Organization, Business Strategy and Going Concern | ' | |
1 | Organization, Business Strategy and Going Concern | |
Organisation | ||
Aurora Gold Corporation ("the Company") was formed on October 10, 1995 under the laws of the State of Delaware and is in the business of location, acquisition, exploration and, if warranted, development of mineral properties. The Company’s focus is on the exploration and development of its exploration properties located in the Tapajos Gold Province, State of Pará, Brazil (refer to Note 3). The Company has not yet determined whether its properties contain mineral reserves that may be economically recoverable and has not generated any operating revenues to date. | ||
The Company is a junior mineral exploration company and conducts principal and technical activities from Coresco AG, Level 3, Gotthardstrasse 20, 6304 Zug, Switzerland. The telephone number is (+41) 41 711 0281. These offices are provided to the Company on a month-to-month basis. The Company believes these offices are adequate for the business requirements during the next 12 months. The Company does not own any real property. | ||
Business Strategy | ||
The general business strategy is to acquire mineral properties either directly or through the acquisition of operating entities. The continued operations and the recoverability of minerals are dependent upon the existence of economically recoverable mineral reserves, confirmation of interest in the underlying properties and ability to obtain necessary financing to complete the development and future profitable production. Since 1996 the Company acquired and disposed of a number of properties. The Company has not been successful in any exploration efforts to establish reserves on any of the properties owned by or in which the Company holds an interest. | ||
The Company currently has an interest in a strategic land package of six (6) properties none of which contain any proven reserves. | ||
Going Concern | ||
The Company has no revenues, and has sustained losses since inception. The Company will not generate revenues even if any of its exploration programs indicate that a mineral deposit may exist on the properties. Accordingly, the Company will be dependent on future financings in order to maintain operations and continue exploration activities. | ||
These consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The general business strategy of the Company is to acquire mineral properties either directly or through the acquisition of operating entities. | ||
The Company has incurred recurring operating losses since inception, has not generated any operating revenues to date and during the year ended December 31, 2013, operating activities used cash of $3,414,198 (December 31, 2012: $1,296,342). The Company requires additional funds to meet its obligations and maintain its operations. | ||
These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in this regard are to raise equity financing through private or public equity investment in order to support existing operations and expand its business. There is however no assurance that such additional funding will be available to the Company when required, or on terms acceptable to the Company. In the event that the Company cannot obtain additional funds, on a timely basis, or the operations do not generate sufficient cash flow, the Company may be forced to curtail development or cease activities. These consolidated financial statements do not include any adjustments that might result from this uncertainty. | ||
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||
Dec. 31, 2013 | |||
Summary of Significant Accounting Policies [Abstract] | ' | ||
Summary of Significant Accounting Policies | ' | ||
2 | Summary of Significant Accounting Policies | ||
(a) | Basis of Preparation | ||
The Company follows accounting standards set by the Financial Accounting Standards Board (FASB). The FASB sets accounting principles generally accepted (GAAP) in the United States that the Company follows to ensure they consistently report their financial condition, results of operations, and cash flows. References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codification (ASC) or also referred to as Codification. | |||
These consolidated financial statements have been prepared in accordance with GAAP and include the accounts of the Company and its wholly owned subsidiaries, Aurora Gold Mineração Ltda ("Aurora Gold Mineração") and AGC Resources LLC (“AGC”) (through to date of disposition of AGC, June 14, 2011). Collectively, they are referred to herein as "the Company". Significant inter-company accounts and transactions have been eliminated. | |||
(b) | Use of Estimates | ||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions. | |||
(c) | Cash Equivalents | ||
Cash equivalents comprise certain highly liquid instruments with a maturity date of three months or less when purchased. The Company has cash and cash equivalents of $55,161 as at December 31, 2013 ($3,963,836 as at December 31, 2012). Amounts paid for income taxes during the years ended December 31, 2013 and 2012 were nil; and for interest paid nil respectively. | |||
(d) | Vehicles, Equipment and Land Possession Rights | ||
Vehicles and equipment are carried at cost (including development and preproduction costs, capitalized interest, other financing costs and all direct administrative support costs incurred during the construction period, net of cost recoveries and incidental revenues), less accumulated depletion and depreciation including write-downs. Following the construction period, interest, other financing costs and administrative costs are expensed as incurred. Buildings and equipment utilized directly in commercial mining activities are depreciated, following the commencement of commercial production, over their expected economic lives using either the unit-of-production method or the straight-line method. Depreciation is provided over the following useful lives: | |||
- | Vehicles | 5 years | |
- | Office equipment, furniture and fixtures | 2 to 10 years | |
- | Mining equipment | 10 years | |
The Company reviews the carrying values of its vehicles and equipment whenever events or changes in circumstances indicate that their carrying values may not be recoverable. Impairment is considered to exist if total estimated future cash flows, or probability-weighted cash flows on an undiscounted basis, are less than the carrying value of the assets. An impairment loss is measured and recorded based on discounted estimated future cash flows associated with values beyond proven and probable reserves and resources. In estimating future cash flows, assets are grouped at the lowest level for which there is identifiable future cash flows that are largely independent of cash flows from other asset groups. Generally, in estimating future cash flows, all assets are grouped at a particular property for which there are identifiable cash flows. | |||
All vehicles and equipment are located in Brazil. | |||
Land possession rights consist of amounts paid for possession rights to land in Brazil. Such costs are capitalized as the payments provide us with certain ownership rights for a period of time. | |||
(e) | Mineral Property Reclamation Bonds and Other Related Refundable Costs | ||
Costs paid for the purchase of reclamation bonds and other related costs that are refundable are capitalized. If amounts paid are not to be refunded then they will be expensed when it is determined they will not be refunded. | |||
(f) | Mineral Properties and Exploration Expenses | ||
The Company accounts for its mineral properties on a cost basis whereby all direct costs, net of pre-production revenue, relative to the acquisition of the properties are capitalized. All sales and option proceeds received are first credited against the costs of the related property, with any excess credited to earnings. Once commercial production has commenced, the net costs of the applicable property will be charged to operations using the unit-of-production method based on estimated proven and probable recoverable reserves. The net costs related to abandoned properties are charged to operations. | |||
Exploration costs are charged to operations as incurred until such time that proven reserves are discovered. From that time forward, the Company will capitalize all costs to the extent that future cash flow from mineral reserves equals or exceeds the costs deferred. The deferred costs will be amortized over the recoverable reserves when a property reaches commercial production. As at the reporting period ended, the Company does not have proven reserves. Exploration activities conducted jointly with others are reflected at the Company's proportionate interest in such activities. | |||
The Company reviews the carrying values of its mineral properties on a regular basis by reference to the project economics including the timing of the exploration or development work, the program of works and the exploration results experienced by the Company and others. The review of the carrying value of any producing property will be made by reference to the estimated future operating results and net cash flows. When the carrying value of a property exceeds its estimated net recoverable amount, provision is made for the decline in value. | |||
The recoverability of the amounts recorded for mineral properties is dependent on the confirmation of economically recoverable reserves, confirmation of the Company’s interest in the underlying mineral claims, the ability of the Company to obtain the necessary financing to successfully complete their development and the attainment of future profitable operations or proceeds from disposal. | |||
Estimated costs related to site restoration programs during the commercial development stage of the property are accrued over the life of the project. | |||
(g) | Stock-Based Compensation | ||
The Company accounts for share-based payments under the fair value method of accounting for stock-based compensation consistent with GAAP. Under the fair value method, stock-based compensation cost is measured at the grant date based on the fair value of the award using the Black-Scholes option pricing model and is recognized to expense on a straight-line basis over the requisite service period, which is generally the vesting period. Where upon grant the options vest immediately the stock-based costs are expensed immediately. | |||
(h) | Interest Expense | ||
Interest expense for the periods ended December 31, 2013 and 2012 were nil. | |||
(i) | Foreign Currency Translation and Transactions | ||
The Company's reporting currency is the United States Dollar (USD). Aurora Gold Mineração Ltda is a foreign operation and its functional currency is the Brazilian Real (Real). Certain contractual obligations in these consolidated financial statements are stated in Brazilian Real’s. At the years ended December 31, 2013 and 2012 the Brazilian Real exchange rate to the USD was $0.42320 to 1 Real (December 31, 2012: USD $0.48800 to 1 Real). | |||
The Company translates foreign assets and liabilities of its subsidiaries, other than those denominated in USD, at the rate of exchange at the balance sheet date. Income and expenses of these subsidiaries are translated at the average rate of exchange throughout the reporting period. Gains or losses from these translations are reported as a separate component of other comprehensive income (loss) until all or a part of the investment in the subsidiaries is sold or liquidated. The translation adjustments do not recognize the effect of income tax because the Company expects to reinvest the amounts indefinitely in operations. Accumulated other comprehensive income (loss) consists entirely of foreign currency translation adjustments at December 31, 2013 and 2012. | |||
Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the local functional currency are included in foreign exchange (gain) loss in the consolidated statements of comprehensive income (loss). | |||
(j) | Concentration of Credit Risk | ||
Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash with high credit quality financial institutions in Brazil and Canada. The Company occasionally has cash deposits in excess of federally insured limits. The Company had funds deposited in banks beyond the insured limits as of December 31, 2013 and 2012 respectively. The Company has not experienced any losses related to these balances, and management believes the credit risk to be minimal. | |||
(k) | Fair Value of Financial Instruments and Risks | ||
Fair value estimates of financial instruments are made at a specific point in time, based on relevant information about financial markets and specific financial instruments. As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision. Changes in assumptions can significantly affect estimated fair value. | |||
Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. The Company operates outside of the United States of America (primarily in Brazil) and is exposed to foreign currency risk due to the fluctuation between the currency in which the Company operates in and the USD. | |||
(l) | Income Taxes | ||
The Company has adopted ASC 740, Accounting for Income Taxes, which requires the Company to recognize deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns using the liability method. Under this method, deferred tax liabilities and assets are determined based on the differences between the financial statement carrying amounts and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. In July 2006, the FASB issued an interpretation, which clarifies the accounting for uncertainty in income taxes recognized in a company’s financial statements in accordance with GAAP. This interpretation prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken in a tax return. It also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Estimated interest and penalties related to recording uncertain tax positions when recorded are included as a component of income tax expense on the consolidated statement of operations. The Company has not recorded any liabilities for uncertain tax positions or any related interest and penalties. The Company’s tax returns are open to audit for the years ending December 31, 2010 to 2013. | |||
(m) | Basic and Diluted Net Income (Loss) Per Share | ||
Earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the reporting period including common stock issued effective the date committed. Common stock issuable is considered outstanding as of the original approval date for the purposes of earnings per share computations. Diluted earnings (loss) per common share is computed by dividing net earnings (loss) by the sum of (a) the basic weighted average number of shares of common stock outstanding during the year and (b) additional shares that would have been issued and potentially dilutive securities. During the years ended December 31, 2013 and 2012 the diluted earnings (loss) per share was equivalent to the basic earnings (loss) per share because all potentially dilutive securities were anti-dilutive due to the net losses incurred. Potentially dilutive securities consist of stock options and warrants outstanding at the end of the reporting period. Stock options outstanding as at December 31, 2013 were 1,930,000 (December 31, 2012: 1,930,000). Warrants outstanding as at December 31, 2013 were nil (1,600,000 lapsed during the prior quarter) (December 31, 2012: 1,600,000). | |||
(n) | Reverse Stock Split | ||
The Company has retroactively adjusted all share and per share information to reflect the reverse stock split, discussed in Note 5, in the consolidated financial statements and notes thereto, as well as throughout the rest of this Report for all periods presented. | |||
(o) | Recent Accounting Pronouncements | ||
At present, there are no other such pronouncements not yet effective that the Company expects will have a material impact on these consolidated financial statements. | |||
Mineral_Properties_and_Explora
Mineral Properties and Exploration Expenses | 12 Months Ended | ||
Dec. 31, 2013 | |||
Mineral Properties and Exploration Expenses [Abstract] | ' | ||
Mineral Properties and Exploration Expenses | ' | ||
3 | Mineral Properties and Exploration Expenses | ||
In Brazil, Aurora has six (6) properties with an approximate total of 16,590 ha within the Tapajos Gold Province. The Exploration licence areas are located in the vicinity of the Săo Domingos Township. The Company has conducted various degrees of exploration activities on the properties and ranked the mineralised occurrences in order of merit and may discontinue such activities and dispose of some of the rights to mineral exploration on parts of the property if further exploration work is not warranted. A summary of these properties approved by the Department of National Production Minerals (DNPM) is set out below. | |||
a) | DNPM Process 850.684/06 1,985.91 ha | ||
b) | DNPM Process 850.782/05 6,656.20 ha | ||
c) | DNPM Processes 850.012/06 and 850.013/06; 1128.08 ha and 750.55 ha respectively | ||
d) | DNPM Process 850.119/06 1,068.72 ha | ||
e) | DNPM Process 859.587/95 5,000.00 ha | ||
São Domingos Project in the Municipality of Itaituba, in the Tapajos gold province of the State of Para, Brazil. | |||
a) | DNPM Processes 850.684/06: 1,985.91 ha | ||
Aurora has good title over the mineral rights object of the DNPM Process No. 850.684/06, which is valid and in force, free and clear of any judicial and extrajudicial encumbrances and taxes. Aurora is the sole registered and beneficial holder of and owns and possesses good title to the referred mineral rights. On September 13, 2006 Aurora submitted to DNPM one Exploration Claim for gold covering an area of 4914.18 ha in the Municipality of Itaituba, State of Pará. According to the information obtained such claim was correctly prepared and the required documents are in place but the area will be reduced to 1,985.91 due to overlapping with third parties’ areas with priority rights. The Exploration Permit has not been granted yet. The above-mentioned area is not related to any payments or royalties to third parties since Aurora claimed them directly. | |||
b) | DNPM Processes 850.782/05: 6,656.20 ha | ||
Aurora has good title over the mineral rights object of the DNPM Process No. 850.782/05, which is valid and in force, free and clear of any judicial and extrajudicial encumbrances and taxes. On November 8, 2005 it was submitted to DNPM the Exploration Claim for gold in the Municipality of Itaituba, State of Pará. The Exploration Permit was granted on November 28, 2006 for a 3 (three) year period. The transfer to Aurora was approved on March 24, 2009 and on September 28, 2009 it was requested the renewal of the Exploration Permit. This area was reduced from 6,756 ha to 5,651.98 ha due to the overlapping with Garimpeira (alluvial) Mining properties held by Mr. Celio Paranhos. However the DNPM s general attorney in Brasilia agreed with Aurora’s legal thesis and nullified all applications filed by Mr. Paranhos (about to 1,900 applications). A new Exploration Permit rectifying the previous one was granted on August 20, 2010 for a 3 (three) year period, for an area of 6,656.20 hectares. An application has been lodged for the extension of the license and Aurora is awaiting the results of this. The renewal will be for a further 3 years and is expected to be granted in the near future. The Annual Fees per Hectare (TAHs) for the 1st and 2nd years of the extension period have been properly paid. The annual fee for the third year was paid in January 2013. No payments or royalties are due regarding the DNPM Process 850.782/05 since it was acquired through a permutation agreement with Altoro Mineração Ltda. | |||
c) | DNPM Processes 850.012/06 and 850.013/06: 1,128.08 ha and 750.55 ha respectively | ||
The exploration claims were submitted to DNPM on January 19, 2006, for gold covering an area of 1,128.08 ha and 750.55 ha respectively, in the Municipality of Itaituba, State of Pará. According to information obtained such claims were correctly prepared and the required documents are in place. The tenements 850.012/06 and 850.013/06 are held by Mr. Antonio Oliveira Ferreira and were submitted to DNPM on January 19, 2006. The tenements are located at Itaituba, State of Pará and are valid and in force, free and clear of any judicial and extrajudicial encumbrances and taxes, but the area was blocked since it is inside of a Garimpeira Reserve. The transfer to Aurora will be submitted after the Exploration Permits are granted. There are no payments or royalties related to the tenements according to the agreement entered into with the previous owner. | |||
d) | DNPM Process 850.119/06: 1,068.72 ha | ||
Direct access to the files of this Project at DNPM’s office were not sited, however analysis is based on the then current information provided on DNPM’s website. The exploration claim was submitted to DNPM on March 7, 2006, for gold covering an area of 1,068.72 ha, in the Municipality of Itaituba, State of Pará. Aurora has good title over the mineral rights object of the DNPM Process No. 850.119/06, which is valid and in force, free and clear of any judicial and extrajudicial encumbrances and taxes. Aurora is the sole registered and beneficial holder of and owns and possesses good title to the referred mineral rights. The Exploration Permit has not been granted yet. The above-mentioned area is not related to any payments or royalties to third parties since Aurora claimed them directly. | |||
e) | DNPM Process 859.587/95: 5,000 ha | ||
The tenement 859.587/95 is held by Aurora and is valid and in force, free and clear of any judicial and extrajudicial encumbrances and taxes. It is located at the Municipality of Itaituba, State of Pará. On November 27, 1995 it was submitted to DNPM the Exploration Claim for gold. The Exploration Permit was granted on September 15, 2006 for a 3 (three) years period covering an area of 5000 ha, and it was valid until September 15, 2009. On July 15, 2009 it was requested the renewal of the Exploration Permit, which was granted on June 14, 2012. The renewal is valid until June 14, 2015, when a Final Report must be submitted to DNPM with the results of the Exploration Activities. In order to have a Mining Permit granted, Aurora must present the Economic Exploitation Plan and the Mining Concession Request in one year from the approval of the Final Report. | |||
Advances_Payable
Advances Payable | 12 Months Ended | |
Dec. 31, 2013 | ||
Advances Payable [Abstract] | ' | |
Advances Payable | ' | |
4 | Advances Payable | |
During March 2012, the Company entered into debt settlement agreements for $105,000 of advances received from a director of the Company and a company during fiscal 2011. As at December 31, 2013 advances payable were $32,000 (December 31, 2012: $32,000), which is non-interest bearing and due on demand. | ||
Common_Stock
Common Stock | 12 Months Ended | ||
Dec. 31, 2013 | |||
Common Stock [Abstract] | ' | ||
Common Stock | ' | ||
5 | Common Stock | ||
There were no common stock transactions during the year ended December 31, 2013. | |||
On August 15, 2013, an Information Statement was filed with the Securities and Exchange Commission and was mailed or otherwise furnished to the registered stockholders of Aurora in connection with the prior approval by the board of directors of Aurora, and receipt by the board of approval by written consent of the holders of a majority of Aurora’s outstanding shares of common stock, of a resolution to: | |||
- | Approve a consolidation of the issued and outstanding shares of common stock of Aurora, without correspondingly decreasing the number of authorized shares of common stock, on a five “old” shares for every one “new” share basis, which will result in a decrease of Aurora’s issued and outstanding share capital from 249,144,706 shares to approximately 49,828,942 shares of common stock, not including any rounding up of fractional shares to be issued on consolidation; | ||
- | Approve a change of the par value of the shares of common stock of Aurora from a pre-consolidated par value of $0.001 per share to an amended par value of $0.005 per share; and | ||
- | Amend Article Four of the Articles of Aurora as follows “FOURTH. The authorized capital stock of this Corporation shall consist of 300 Million (300,000,000) shares of common stock with a par value of $0.005 per share.” | ||
Section 228 of the Delaware General Corporation Law and the By-laws of Aurora provide that any action required or permitted to be taken at a meeting of the stockholders may be taken without a meeting if stockholders holding at least a majority of the voting power sign a written consent approving the action. On July 24, 2013, the board of directors of Aurora approved and recommended the Resolutions. Subsequently, the holders of a majority of the voting power signed and delivered to Aurora written consents representing at least 57.4% of the voting shares of common stock approving the Resolutions, in lieu of a meeting. Since the holders of the required majority of shares of common stock have approved the Resolutions, no other votes are required or necessary and no proxies are being solicited with this Information Statement. Aurora has obtained all necessary corporate approvals in connection with the Resolutions and your consent is not required and is not being solicited in connection with the approval of the Resolutions. The Information Statement was furnished solely for the purpose of informing stockholders in the manner required under the Securities Exchange Act of 1934 of these corporate actions before they take effect. The Resolutions will not become effective until (i) the date the Company receives confirmation from FINRA regarding the approval and effective date of the corporate action, or, (ii) such later date as approved by the board of directors, in its sole discretion. The Certificate of Amendment was filed with the Secretary of State of Delaware and became effective October 22, 2013, | |||
On October 5, 2012, the Company, completed the sale of 27,000,000 shares of the Company’s common stock for a purchase price of $5,000,000, to Alltech Capital Limited pursuant to the terms of a subscription agreement entered into between the Company and the Alltech Capital Limited dated September 21, 2012. As a result of the sale of 27,000,000 shares of the Company’s common stock of approximately 54%, a change in control of the Company has occurred. As a condition to the closing of the transaction, the Company agreed to increase the size of its board of directors to five (5) members and to appoint two board members selected by the Investor. The board of directors appointed each of Messrs. Vladimir Bernshtein and Andrey Ratsko to serve as directors of the Company. Additionally, Mr. Bernshtein has been named as the Company’s Chief Business Development Director. | |||
In October 2011 the Company filed a Registration Statement on Form S-1 offering up to a maximum of 10,000,000 units of the Company's securities at an offering price of $0.50 per Unit in a direct public offering, without any involvement of underwriters or broker-dealers. Each Unit consists of one (1) share of common stock at a $0.005 par value per share and one (1) Stock Purchase Warrant. Each full Warrant entitles the holder to purchase one additional share of common stock at a price of $1.00 for a period of two years commencing November 1, 2011 through October 31, 2013. The Units will be sold by the Chief Executive Officer and Chief Financial Officer. A Notice of Effectiveness was issued April 25, 2012. The offer expired January 20, 2013. To date, no funds were obtained from this offering. | |||
On April 16, 2012, the Company entered into subscription agreements for 263,200 shares of common stock at a purchase price of $0.30 per share for a gross aggregate price of $78,960. Pursuant to the subscription agreements, each of the Investors has represented that they are not a U.S. person; as such term is defined in Regulation S. In connection with the offering, the Company has agreed to pay a cash commission equal to 8% of all funds received or an aggregate of up $48,000 on the total maximum $600,000 subscription. | |||
During April 2012, the Company entered into a debt settlement agreement for $18,000 in accounts payable which was settled for 60,000 shares of common stock at an issue price of $0.30 per share. | |||
During March 2012, the Company entered into debt settlement agreements for advances received from a director of the Company and a company during fiscal 2011 as well as $14,454 of amounts in accounts payable and accrued expenses. $119,454 was settled for 398,180 shares of common stock at an issue price of $0.30 per share. As at March 31, 2012 advances on stock subscriptions were $37,513 and received during that quarter. | |||
In March 2012, the Company entered into subscription agreements for 125,044 shares of common stock at a purchase price of $0.30 per share for a gross aggregate price of $37,513. Share certificates were not issued as at March 31, 2012 and they were treated as an Advance for Stock Subscriptions. The share certificates were issued in April 2012. Pursuant to the subscription agreements, each of the Investors has represented that they are not a U.S. person; as such term is defined in Regulation S. In connection with the offering, the Company has agreed to pay a cash commission equal to 8% of all funds received or an aggregate of up $48,000 on the total maximum $600,000 subscription that is being offered. | |||
On December 20, 2011, the Company entered into subscription agreements for 1,600,000 shares of common stock at a purchase price of $0.20 per share for a gross aggregate price of $320,000. Attached to each unit of common stock is one (1) series A stock purchase warrant. Each full Series A warrant entitles the holder to purchase an additional share of the Company’s common stock at an exercise price of $0.40 per share for a period of eighteen months commencing on December 20, 2011 and expiring on June 20, 2013. Pursuant to the subscription agreements, each of the Investors has represented that they are not a U.S. person; as such term is defined in Regulation S. In connection with the offering, the Company has agreed to pay a cash commission equal to 8% of all funds received or an aggregate of up $25,600. The total amount of commission paid was $8,800. These warrants expired on June 20, 2013. | |||
Stock_Options_and_Warrants
Stock Options and Warrants | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Stock Options and Warrants [Abstract] | ' | ||||||||||
Stock Options and Warrants | ' | ||||||||||
6 | Stock Options and Warrants | ||||||||||
In 2007, the Company's Board of Directors approved the 2007 Stock Option Plan (amended September 29, 2008) (“the Plan”) to offer an incentive to obtain services of key employees, directors and consultants of the Company. The Plan provides for the reservation for awards of an aggregate of 10% of the total shares of Common Stock outstanding from time to time. No Plan participant may receive stock options exercisable for more than 500,000 shares of Common Stock in any one calendar year. Under the Plan, the exercise price of an incentive stock option must be at least equal to 100% of the fair market value of the common stock on the date of grant (110% of fair market value in the case of options granted to employees who hold more than 10% of the Company's capital stock on the date of grant). The term of stock options granted under the Plan is not to exceed ten years and the stock options vest immediately upon granting. | |||||||||||
The following is a summary of stock option activity and status at December 31, 2013: | |||||||||||
Options Outstanding and Exercisable | Stock | Weighted | Remaining Contractual Life (years) | Aggregate | |||||||
By Quarter | Options | Average | Intrinsic value | ||||||||
# | Exercise Price | ||||||||||
$ | |||||||||||
As at December 31, 2011 | 1,810,000 | 0.55 | 4.28 | 36,500 | |||||||
Forfeited during quarter | -40,000 | 1.3 | — | — | |||||||
Granted during quarter | 320,000 | 0.25 | — | — | |||||||
As at March, 31, 2012 | 2,090,000 | 0.45 | 4.21 | 42,000 | |||||||
Granted during quarter | 40,000 | 0.325 | — | — | |||||||
As at June, 30, 2012 | 2,130,000 | 0.485 | 3.97 | 34,125 | |||||||
Forfeited during quarter | -200,000 | 1.3 | — | — | |||||||
Granted during quarter | — | — | — | — | |||||||
As at September 30, 2012 | 1,930,000 | 0.4 | 3.74 | 52,500 | |||||||
Forfeited during quarter | — | — | — | — | |||||||
Granted during quarter | — | — | — | — | |||||||
As at December 31, 2012 | 1,930,000 | 0.4 | 3.51 | Nil | |||||||
Forfeited during quarter | — | — | — | — | |||||||
Granted during quarter | — | — | — | — | |||||||
As at March 31, 2013 | 1,930,000 | 0.4 | 3.28 | Nil | |||||||
Forfeited during quarter | — | — | — | — | |||||||
Granted during quarter | — | — | — | — | |||||||
As at June 30, 2013 | 1,930,000 | 0.4 | 3.06 | Nil | |||||||
Forfeited during quarter | — | — | — | — | |||||||
Granted during quarter | — | — | — | — | |||||||
As at September 30, 2013 | 1,930,000 | 0.4 | 2.83 | Nil | |||||||
Forfeited during quarter | — | — | — | — | |||||||
Granted during quarter | — | — | — | — | |||||||
As at December 31, 2013 | 1,930,000 | 0.4 | 2.6 | Nil | |||||||
The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value for all “in-the-money” options (i.e. the difference between the Company’s closing stock price on the last trading day of the fiscal year and the exercise price, multiplied by the number of shares) that would have been received by the option holders had all option holders exercised their options as of each date presented. | |||||||||||
The total fair value of options granted for the three months ended December 31, 2013 was nil (December 31, 2012: $nil) and expensed in full as options were vested in full on grant. The fair value of options are determined using the Black Scholes option pricing model that takes into account the exercise price, the expected life of the option, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option. Management determined 2.50 years to be the average expected likely life of the options and utilized the simplified method due to the fact that the Company has not had significant options granted to develop historical data to provide a reasonable basis to estimate option lives. | |||||||||||
The total fair value of options granted for the three months ended September 30, 2013 was nil (September 30, 2012: $nil) and expensed in full as options were vested in full on grant. The fair value of options are determined using the Black Scholes option pricing model that takes into account the exercise price, the expected life of the option, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option. Management determined 2.50 years to be the average expected likely life of the options and utilized the simplified method due to the fact that the Company has not had significant options granted to develop historical data to provide a reasonable basis to estimate option lives. | |||||||||||
The total fair value of options granted for the three months ended June 30, 2013 was nil (June 30, 2012: $11,979) and expensed in full as options were vested in full on grant. The fair value of options are determined using the Black Scholes option pricing model that takes into account the exercise price, the expected life of the option, the share price at grant date (April 10, 2012) and expected price volatility of the underlying share, the expected dividend yield (nil assumed) and the risk free interest rate (4.50% used) for the term of the option. Management determined 2.50 years to be the average expected likely life of the options and utilized the simplified method due to the fact that the Company has not had significant options granted to develop historical data to provide a reasonable basis to estimate option lives. Volatility rates were calculated at the grant date of each option tranche and rates of 161.04% respectively were used. | |||||||||||
The total fair value of options granted for the period ended March 31, 2013 was nil (March 31, 2012: $43,681) and expensed in full as options were vested in full on grant. The fair value of options are determined using the Black Scholes option pricing model that takes into account the exercise price, the expected life of the option, the share price at grant date (January 13, 2012) and expected price volatility of the underlying share, the expected dividend yield (nil assumed) and the risk free interest rate (4.50% used) for the term of the option. Management determined 2.50 years to be the average expected likely life of the options and utilized the simplified method due to the fact that the Company has not had significant options granted to develop historical data to provide a reasonable basis to estimate option lives. Volatility rates were calculated at the grant date of each option tranche and rates of 120.89% were used. | |||||||||||
During the quarter ended March 31, 2012, Cameron Richardson departed the Company, an exercise notice for the 40,000 options held was not lodged and consequently the options lapsed during the quarter. | |||||||||||
Effective January 13, 2012, the Company’s board of directors granted 320,000 stock purchase options pursuant to the Company’s 2007 Stock Option Plan. Each of the Options has an issue date, effective date and vesting date of January 13, 2012, with an exercise price of $0.25 per share. The term of these Options are five years. The Options are exercisable at any time from the grant date up to and including January 12,2017. | |||||||||||
As of December 31, 2013, there are nil outstanding Warrants to purchase shares of common stock. All warrants previously outstanding lapsed on June 20, 2013. | |||||||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | ||
Dec. 31, 2013 | |||
Related Party Transactions [Abstract] | ' | ||
Related Party Transactions | ' | ||
7 | Related Party Transactions | ||
Related party transactions not disclosed elsewhere in these consolidated financial statements include: | |||
a) | During the fiscal year ended December 31, 2013 consulting fees of $445,337 (December 31, 2012: $301,714) were incurred to directors and officers (or companies of the officers and directors other than Coresco which is disclosed below) of the Company. The transactions were recorded at the exchange amount, being the value established and agreed to by the related parties. | ||
b) | Coresco (a company that the CEO and CFO are affiliated with) also charged for geophysical consulting activities and other exploration management fees for a total of $126,000 during the year ended December 31, 2013 (December 31, 2012: Coresco charged for S1 fund raising and geophysical consulting activities for a total of $79,171). | ||
c) | Included in accounts payable and accrued expenses and advances payable (related parties) as at December 31, 2013 and December 31, 2012 were $42,800 and $126,220 respectively payable to officers and directors of the Company for consulting fees and various expenses incurred on behalf of the Company. | ||
NonCash_Investing_and_Financin
Non-Cash Investing and Financing Activities | 12 Months Ended | |
Dec. 31, 2013 | ||
Non-Cash Investing and Financing Activities [Abstract] | ' | |
Non-Cash Investing and Financing Activities | ' | |
8 | Non-Cash Investing and Financing Activities | |
There were no non-cash investing and financings payments during the year ended December 31, 2013 (December 31, 2012: nil). | ||
Vehicles_and_Other_Equipment
Vehicles and Other Equipment | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||
Vehicles and Other Equipment | ' | |||||||||
9 | Vehicles and Other Equipment | |||||||||
December 31, | ||||||||||
2013 | 2012 | |||||||||
($) | ($) | |||||||||
Mining Equipment | 288,300 | 2,889 | ||||||||
Vehicles | 129,457 | 96,623 | ||||||||
Office Furniture and Fixtures | 4,005 | 3,532 | ||||||||
Subtotal | 421,762 | 103,044 | ||||||||
Accumulated depreciation | -44,230 | -5,128 | ||||||||
Net book value | 377,532 | 97,916 | ||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
10 | Income Taxes | ||||||||
The Company and its subsidiary operate in several tax jurisdictions, and its income is subject to various rates of taxation. The Company has net losses for tax purposes in the United States and Brazil totaling approximately $14,158,885 and $9,064,099 respectively, which may be applied against future taxable income. Accordingly, there is no tax expense for the years ended December 31, 2013 and 2012. The potential tax benefits arising from these losses have not been recorded in the consolidated financial statements as a full valuation allowance has been recorded against them. The Company evaluates its valuation allowance requirements on an annual basis based on projected future operations. When circumstances change and this causes a change in management's judgment about the recoverability of deferred tax assets, the impact of the change on the valuation allowance is reflected in current operations. The right to claim the tax losses in the United States expire according to the following table: | |||||||||
Fiscal Year of Expiry | Amount $ | ||||||||
2018 | 331,000 | ||||||||
2019 | 795,000 | ||||||||
2020 | 550,000 | ||||||||
2022 | 138,000 | ||||||||
2023 | 90,000 | ||||||||
2024 | 222,000 | ||||||||
2025 | 457,000 | ||||||||
2026 | 1,094,000 | ||||||||
2027 | 800,000 | ||||||||
2028 | 561,000 | ||||||||
2029 | 479,000 | ||||||||
2030 | 2,065,000 | ||||||||
2031 | 3,921,183 | ||||||||
2032 | 753,861 | ||||||||
2033 | 1,901,841 | ||||||||
14,158,885 | |||||||||
Tax losses carried forward in Brazil have no expiration date and are available to offset up to 30% of annual income before tax in any year. | |||||||||
The tax effects of temporary differences that give rise to the Company's net deferred tax assets are as follows: | |||||||||
2013 | 2012 | ||||||||
$ | $ | ||||||||
Tax loss carry forwards | 7,895,814 | 6,737,948 | |||||||
Valuation allowance | -8,048,548 | -6,890,682 | |||||||
Stock compensation expense | 152,734 | 152,734 | |||||||
— | — | ||||||||
The reconciliation of income tax computed at the federal statutory rate to income tax expense is as follows: | |||||||||
2013 | 2012 | ||||||||
$ | $ | ||||||||
Tax at statutory rate | -1,157,866 | -408,127 | |||||||
Movement in deferred tax asset | — | 191,760 | |||||||
Change in valuation allowance for deferred tax asset | 1,157,866 | 135,779 | |||||||
Other | — | 80,588 | |||||||
Income tax expense | $ | — | $ | — | |||||
Subsequent_Events
Subsequent Events | 12 Months Ended | |
Dec. 31, 2013 | ||
Subsequent Events [Abstract] | ' | |
Subsequent Events | ' | |
11 | Subsequent Events | |
On February 13th 2014, Alltech Capital Limited subscribed for 1,360,000 shares at a price of $0.074 and received one warrant for each share valid for 2 years at a strike of $0.15cents. | ||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Summary of Significant Accounting Policies [Abstract] | ' | ||
Basis of Preparation | ' | ||
(a) | Basis of Preparation | ||
The Company follows accounting standards set by the Financial Accounting Standards Board (FASB). The FASB sets accounting principles generally accepted (GAAP) in the United States that the Company follows to ensure they consistently report their financial condition, results of operations, and cash flows. References to GAAP issued by the FASB in these footnotes are to the FASB Accounting Standards Codification (ASC) or also referred to as Codification. | |||
These consolidated financial statements have been prepared in accordance with GAAP and include the accounts of the Company and its wholly owned subsidiaries, Aurora Gold Mineração Ltda ("Aurora Gold Mineração") and AGC Resources LLC (“AGC”) (through to date of disposition of AGC, June 14, 2011). Collectively, they are referred to herein as "the Company". Significant inter-company accounts and transactions have been eliminated. | |||
Use of Estimates | ' | ||
(b) | Use of Estimates | ||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions. | |||
Cash Equivalents | ' | ||
(c) | Cash Equivalents | ||
Cash equivalents comprise certain highly liquid instruments with a maturity date of three months or less when purchased. The Company has cash and cash equivalents of $55,161 as at December 31, 2013 ($3,963,836 as at December 31, 2012). Amounts paid for income taxes during the years ended December 31, 2013 and 2012 were nil; and for interest paid nil respectively. | |||
Vehicles and Equipment | ' | ||
(d) | Vehicles, Equipment and Land Possession Rights | ||
Vehicles and equipment are carried at cost (including development and preproduction costs, capitalized interest, other financing costs and all direct administrative support costs incurred during the construction period, net of cost recoveries and incidental revenues), less accumulated depletion and depreciation including write-downs. Following the construction period, interest, other financing costs and administrative costs are expensed as incurred. Buildings and equipment utilized directly in commercial mining activities are depreciated, following the commencement of commercial production, over their expected economic lives using either the unit-of-production method or the straight-line method. Depreciation is provided over the following useful lives: | |||
- | Vehicles | 5 years | |
- | Office equipment, furniture and fixtures | 2 to 10 years | |
- | Mining equipment | 10 years | |
The Company reviews the carrying values of its vehicles and equipment whenever events or changes in circumstances indicate that their carrying values may not be recoverable. Impairment is considered to exist if total estimated future cash flows, or probability-weighted cash flows on an undiscounted basis, are less than the carrying value of the assets. An impairment loss is measured and recorded based on discounted estimated future cash flows associated with values beyond proven and probable reserves and resources. In estimating future cash flows, assets are grouped at the lowest level for which there is identifiable future cash flows that are largely independent of cash flows from other asset groups. Generally, in estimating future cash flows, all assets are grouped at a particular property for which there are identifiable cash flows. | |||
All vehicles and equipment are located in Brazil. | |||
Land possession rights consist of amounts paid for possession rights to land in Brazil. Such costs are capitalized as the payments provide us with certain ownership rights for a period of time. | |||
Mineral Property Reclamation Bonds and Other Related Refundable Costs | ' | ||
(e) | Mineral Property Reclamation Bonds and Other Related Refundable Costs | ||
Costs paid for the purchase of reclamation bonds and other related costs that are refundable are capitalized. If amounts paid are not to be refunded then they will be expensed when it is determined they will not be refunded. | |||
Mineral Properties and Exploration Expenses | ' | ||
(f) | Mineral Properties and Exploration Expenses | ||
The Company accounts for its mineral properties on a cost basis whereby all direct costs, net of pre-production revenue, relative to the acquisition of the properties are capitalized. All sales and option proceeds received are first credited against the costs of the related property, with any excess credited to earnings. Once commercial production has commenced, the net costs of the applicable property will be charged to operations using the unit-of-production method based on estimated proven and probable recoverable reserves. The net costs related to abandoned properties are charged to operations. | |||
Exploration costs are charged to operations as incurred until such time that proven reserves are discovered. From that time forward, the Company will capitalize all costs to the extent that future cash flow from mineral reserves equals or exceeds the costs deferred. The deferred costs will be amortized over the recoverable reserves when a property reaches commercial production. As at the reporting period ended, the Company does not have proven reserves. Exploration activities conducted jointly with others are reflected at the Company's proportionate interest in such activities. | |||
The Company reviews the carrying values of its mineral properties on a regular basis by reference to the project economics including the timing of the exploration or development work, the program of works and the exploration results experienced by the Company and others. The review of the carrying value of any producing property will be made by reference to the estimated future operating results and net cash flows. When the carrying value of a property exceeds its estimated net recoverable amount, provision is made for the decline in value. | |||
The recoverability of the amounts recorded for mineral properties is dependent on the confirmation of economically recoverable reserves, confirmation of the Company’s interest in the underlying mineral claims, the ability of the Company to obtain the necessary financing to successfully complete their development and the attainment of future profitable operations or proceeds from disposal. | |||
Estimated costs related to site restoration programs during the commercial development stage of the property are accrued over the life of the project. | |||
Stock-Based Compensation | ' | ||
(g) | Stock-Based Compensation | ||
The Company accounts for share-based payments under the fair value method of accounting for stock-based compensation consistent with GAAP. Under the fair value method, stock-based compensation cost is measured at the grant date based on the fair value of the award using the Black-Scholes option pricing model and is recognized to expense on a straight-line basis over the requisite service period, which is generally the vesting period. Where upon grant the options vest immediately the stock-based costs are expensed immediately. | |||
Interest Expense | ' | ||
(h) | Interest Expense | ||
Interest expense for the periods ended December 31, 2013 and 2012 were nil. | |||
Foreign Currency Translation and Transactions | ' | ||
(i) | Foreign Currency Translation and Transactions | ||
The Company's reporting currency is the United States Dollar (USD). Aurora Gold Mineração Ltda is a foreign operation and its functional currency is the Brazilian Real (Real). Certain contractual obligations in these consolidated financial statements are stated in Brazilian Real’s. At the years ended December 31, 2013 and 2012 the Brazilian Real exchange rate to the USD was $0.42320 to 1 Real (December 31, 2012: USD $0.48800 to 1 Real). | |||
The Company translates foreign assets and liabilities of its subsidiaries, other than those denominated in USD, at the rate of exchange at the balance sheet date. Income and expenses of these subsidiaries are translated at the average rate of exchange throughout the reporting period. Gains or losses from these translations are reported as a separate component of other comprehensive income (loss) until all or a part of the investment in the subsidiaries is sold or liquidated. The translation adjustments do not recognize the effect of income tax because the Company expects to reinvest the amounts indefinitely in operations. Accumulated other comprehensive income (loss) consists entirely of foreign currency translation adjustments at December 31, 2013 and 2012. | |||
Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the local functional currency are included in foreign exchange (gain) loss in the consolidated statements of comprehensive income (loss). | |||
Concentration of Credit Risk | ' | ||
(j) | Concentration of Credit Risk | ||
Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash with high credit quality financial institutions in Brazil and Canada. The Company occasionally has cash deposits in excess of federally insured limits. The Company had funds deposited in banks beyond the insured limits as of December 31, 2013 and 2012 respectively. The Company has not experienced any losses related to these balances, and management believes the credit risk to be minimal. | |||
Fair Value of Financial Instruments and Risks | ' | ||
(k) | Fair Value of Financial Instruments and Risks | ||
Fair value estimates of financial instruments are made at a specific point in time, based on relevant information about financial markets and specific financial instruments. As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision. Changes in assumptions can significantly affect estimated fair value. | |||
Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. The Company operates outside of the United States of America (primarily in Brazil) and is exposed to foreign currency risk due to the fluctuation between the currency in which the Company operates in and the USD. | |||
Income Taxes | ' | ||
(l) | Income Taxes | ||
The Company has adopted ASC 740, Accounting for Income Taxes, which requires the Company to recognize deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns using the liability method. Under this method, deferred tax liabilities and assets are determined based on the differences between the financial statement carrying amounts and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. In July 2006, the FASB issued an interpretation, which clarifies the accounting for uncertainty in income taxes recognized in a company’s financial statements in accordance with GAAP. This interpretation prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken in a tax return. It also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Estimated interest and penalties related to recording uncertain tax positions when recorded are included as a component of income tax expense on the consolidated statement of operations. The Company has not recorded any liabilities for uncertain tax positions or any related interest and penalties. The Company’s tax returns are open to audit for the years ending December 31, 2010 to 2013. | |||
Basic and Diluted Net Income (Loss) Per Share | ' | ||
(m) | Basic and Diluted Net Income (Loss) Per Share | ||
Earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the reporting period including common stock issued effective the date committed. Common stock issuable is considered outstanding as of the original approval date for the purposes of earnings per share computations. Diluted earnings (loss) per common share is computed by dividing net earnings (loss) by the sum of (a) the basic weighted average number of shares of common stock outstanding during the year and (b) additional shares that would have been issued and potentially dilutive securities. During the years ended December 31, 2013 and 2012 the diluted earnings (loss) per share was equivalent to the basic earnings (loss) per share because all potentially dilutive securities were anti-dilutive due to the net losses incurred. Potentially dilutive securities consist of stock options and warrants outstanding at the end of the reporting period. Stock options outstanding as at December 31, 2013 were 1,930,000 (December 31, 2012: 1,930,000). Warrants outstanding as at December 31, 2013 were nil (1,600,000 lapsed during the prior quarter) (December 31, 2012: 1,600,000). | |||
Reverse Stock Split | ' | ||
(n) | Reverse Stock Split | ||
The Company has retroactively adjusted all share and per share information to reflect the reverse stock split, discussed in Note 5, in the consolidated financial statements and notes thereto, as well as throughout the rest of this Report for all periods presented. | |||
Recent Accounting Pronouncements | ' | ||
(o) | Recent Accounting Pronouncements | ||
At present, there are no other such pronouncements not yet effective that the Company expects will have a material impact on these consolidated financial statements. | |||
Stock_Options_and_Warrants_Tab
Stock Options and Warrants (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Stock Options and Warrants [Abstract] | ' | ||||||||||
Summary of Stock Option Activity | ' | ||||||||||
The following is a summary of stock option activity and status at December 31, 2013: | |||||||||||
Options Outstanding and Exercisable | Stock | Weighted | Remaining Contractual Life (years) | Aggregate | |||||||
By Quarter | Options | Average | Intrinsic value | ||||||||
# | Exercise Price | ||||||||||
$ | |||||||||||
As at December 31, 2011 | 1,810,000 | 0.55 | 4.28 | 36,500 | |||||||
Forfeited during quarter | -40,000 | 1.3 | — | — | |||||||
Granted during quarter | 320,000 | 0.25 | — | — | |||||||
As at March, 31, 2012 | 2,090,000 | 0.45 | 4.21 | 42,000 | |||||||
Granted during quarter | 40,000 | 0.325 | — | — | |||||||
As at June, 30, 2012 | 2,130,000 | 0.485 | 3.97 | 34,125 | |||||||
Forfeited during quarter | -200,000 | 1.3 | — | — | |||||||
Granted during quarter | — | — | — | — | |||||||
As at September 30, 2012 | 1,930,000 | 0.4 | 3.74 | 52,500 | |||||||
Forfeited during quarter | — | — | — | — | |||||||
Granted during quarter | — | — | — | — | |||||||
As at December 31, 2012 | 1,930,000 | 0.4 | 3.51 | Nil | |||||||
Forfeited during quarter | — | — | — | — | |||||||
Granted during quarter | — | — | — | — | |||||||
As at March 31, 2013 | 1,930,000 | 0.4 | 3.28 | Nil | |||||||
Forfeited during quarter | — | — | — | — | |||||||
Granted during quarter | — | — | — | — | |||||||
As at June 30, 2013 | 1,930,000 | 0.4 | 3.06 | Nil | |||||||
Forfeited during quarter | — | — | — | — | |||||||
Granted during quarter | — | — | — | — | |||||||
As at September 30, 2013 | 1,930,000 | 0.4 | 2.83 | Nil | |||||||
Forfeited during quarter | — | — | — | — | |||||||
Granted during quarter | — | — | — | — | |||||||
As at December 31, 2013 | 1,930,000 | 0.4 | 2.6 | Nil | |||||||
Vehicles_and_Other_Equipment_T
Vehicles and Other Equipment (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||
Schedule Of Property Plant And Equipment Table | ' | |||||||||
December 31, | ||||||||||
2013 | 2012 | |||||||||
($) | ($) | |||||||||
Mining Equipment | 288,300 | 2,889 | ||||||||
Vehicles | 129,457 | 96,623 | ||||||||
Office Furniture and Fixtures | 4,005 | 3,532 | ||||||||
Subtotal | 421,762 | 103,044 | ||||||||
Accumulated depreciation | -44,230 | -5,128 | ||||||||
Net book value | 377,532 | 97,916 | ||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Schedule of Operating Loss Carryforwards | ' | ||||||||
The right to claim the tax losses in the United States expire according to the following table: | |||||||||
Fiscal Year of Expiry | Amount $ | ||||||||
2018 | 331,000 | ||||||||
2019 | 795,000 | ||||||||
2020 | 550,000 | ||||||||
2022 | 138,000 | ||||||||
2023 | 90,000 | ||||||||
2024 | 222,000 | ||||||||
2025 | 457,000 | ||||||||
2026 | 1,094,000 | ||||||||
2027 | 800,000 | ||||||||
2028 | 561,000 | ||||||||
2029 | 479,000 | ||||||||
2030 | 2,065,000 | ||||||||
2031 | 3,921,183 | ||||||||
2032 | 753,861 | ||||||||
2033 | 1,901,841 | ||||||||
14,158,885 | |||||||||
Schedule of Deferred Taxes | ' | ||||||||
The tax effects of temporary differences that give rise to the Company's net deferred tax assets are as follows: | |||||||||
2013 | 2012 | ||||||||
$ | $ | ||||||||
Tax loss carry forwards | 7,895,814 | 6,737,948 | |||||||
Valuation allowance | -8,048,548 | -6,890,682 | |||||||
Stock compensation expense | 152,734 | 152,734 | |||||||
— | — | ||||||||
Reconciliation of Income Tax Computed at Statutory Rate to Income Tax Expense | ' | ||||||||
The reconciliation of income tax computed at the federal statutory rate to income tax expense is as follows: | |||||||||
2013 | 2012 | ||||||||
$ | $ | ||||||||
Tax at statutory rate | -1,157,866 | -408,127 | |||||||
Movement in deferred tax asset | — | 191,760 | |||||||
Change in valuation allowance for deferred tax asset | 1,157,866 | 135,779 | |||||||
Other | — | 80,588 | |||||||
Income tax expense | $ | — | $ | — | |||||
Organization_Business_Strategy1
Organization, Business Strategy and Going Concern (Narrative) (Details) (USD $) | 12 Months Ended | 219 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Properties | Properties | ||
Real Estate Properties [Line Items] | ' | ' | ' |
Net cash used in operating activities | ($3,414,198) | ($1,296,342) | ($19,018,522) |
Number of properties | 6 | ' | 6 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Buildings and Equipment [Line Items] | ' | ' |
Cash and cash equivalents | 55,161 | 3,963,836 |
Brazilian Real exchange rate to USD | 0.4232 | 0.488 |
Employee Stock Option [Member] | ' | ' |
Buildings and Equipment [Line Items] | ' | ' |
Potentially dilutive securities outstanding | 1,930,000 | 1,930,000 |
Warrant [Member] | ' | ' |
Buildings and Equipment [Line Items] | ' | ' |
Warrants lapsed | 1,600,000 | 1,600,000 |
Vehicles [Member] | ' | ' |
Buildings and Equipment [Line Items] | ' | ' |
Useful life | '5 years | ' |
Mining Properties and Mineral Rights [Member] | ' | ' |
Buildings and Equipment [Line Items] | ' | ' |
Useful life | '10 years | ' |
Minimum [Member] | Furniture, Fixtures and Office Equipment [Member] | ' | ' |
Buildings and Equipment [Line Items] | ' | ' |
Useful life | '2 years | ' |
Maximum [Member] | Furniture, Fixtures and Office Equipment [Member] | ' | ' |
Buildings and Equipment [Line Items] | ' | ' |
Useful life | '10 years | ' |
Mineral_Properties_and_Explora1
Mineral Properties and Exploration Expenses (Narrative) (Details) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 13, 2006 | Dec. 31, 2013 | Sep. 28, 2009 | Sep. 27, 2009 | Nov. 28, 2006 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 15, 2006 | Dec. 31, 2013 |
ha | Properties | DNPM Processes 850.684/06 [Member] | DNPM Processes 850.684/06 [Member] | DNPM Processes 850.782/05 [Member] | DNPM Processes 850.782/05 [Member] | DNPM Processes 850.782/05 [Member] | DNPM Processes 850.782/05 [Member] | DNPM Processes 850.012/06 [Member] | DNPM Processes 850.013/06 [Member] | DNPM Process 850.119/06 [Member] | DNPM Process 859.587/95 [Member] | DNPM Process 859.587/95 [Member] | |
ha | Exploration Claims Submitted [Member] | ha | ha | ha | Mineral Rights Granted [Member] | ha | ha | ha | ha | ||||
ha | |||||||||||||
Mineral Properties [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of properties | 6 | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exploration permit covering area | 16,590 | 16,590 | 1,985.91 | 4,914.18 | 6,656.20 | 5,651.98 | 6,756 | ' | 1,128.08 | 750.55 | 1,068.72 | ' | 5,000 |
Exploration permit granted period | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | '3 years | ' |
Advances_Payable_Narrative_Det
Advances Payable (Narrative) (Details) (USD $) | 1 Months Ended | ||
Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Advances Payable [Line Items] | ' | ' | ' |
Proceeds from advances | $105,000 | ' | ' |
Advances payable - related party | ' | $32,000 | $32,000 |
Common_Stock_Narrative_Details
Common Stock (Narrative) (Details) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | ||||||||||||||||||
Apr. 16, 2012 | Dec. 20, 2011 | Oct. 31, 2012 | Apr. 30, 2012 | Mar. 31, 2012 | Dec. 31, 1996 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 31, 2011 | Aug. 15, 2013 | Aug. 15, 2013 | Jul. 24, 2013 | Sep. 30, 2013 | Aug. 15, 2013 | Oct. 05, 2012 | Sep. 21, 2012 | Apr. 16, 2012 | Dec. 20, 2011 | Mar. 31, 2012 | Dec. 20, 2011 | Apr. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Apr. 16, 2012 | |
Reverse Stock Split [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |||||||||||
Reverse Stock Split [Member] | Reverse Stock Split [Member] | ||||||||||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Registration Statement, number of units offered | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Registration Statement, offering price per unit | ' | ' | $0.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in ownership interest percentage | ' | ' | ' | ' | ' | ' | ' | 54.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value per share | ' | ' | ' | ' | ' | ' | $0.01 | $0.01 | ' | ' | $0.00 | ' | ' | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of the warrants | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Date from which warrants are exercisable | ' | 20-Dec-11 | 1-Nov-11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant expiration date | ' | 20-Jun-13 | 31-Oct-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unit offering expire date | ' | ' | 20-Jan-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares to be issued under subscription agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,044 | ' | ' | ' | ' | ' |
Purchase price of shares to be issued under subscription agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $37,513 | ' | ' | ' | ' | ' |
Issuance of common stock, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,000,000 | 27,000,000 | 263,200 | 1,600,000 | ' | ' | ' | ' | ' | ' |
Issuance of common stock, value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 78,960 | 320,000 | ' | ' | ' | ' | ' | ' |
Common stock subscription, cash commission as a percentage of funds received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | 8.00% |
Issuance of common stock, issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,600 | 48,000 | 48,000 | ' | ' |
Common stock subscription , maximum subscription | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | 600,000 |
Debt settled with common stock | ' | ' | ' | 18,000 | 119,454 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock for settlement of indebtedness | ' | ' | ' | 60,000 | 398,180 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable and accrued expenses | ' | ' | ' | ' | 14,454 | ' | 185,267 | 119,123 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commission paid | ' | $8,800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, per share | $0.30 | $0.20 | ' | $0.30 | $0.30 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued | ' | ' | ' | ' | ' | ' | 49,828,942 | 49,828,942 | ' | ' | 249,144,706 | ' | ' | ' | 49,828,942 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares Authorized | ' | ' | ' | ' | ' | ' | 300,000,000 | 300,000,000 | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Voting Shares Of Common Stock Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 57.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Purchase Price Per Share | ' | ' | ' | ' | $0.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Options_and_Warrants_Nar
Stock Options and Warrants (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||
Jan. 13, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | |
2007 Stock Option Plan [Member] | 2007 Stock Option Plan [Member] | ||||||||||
Employees Who Hold More than 10% of the Company's Capital Stock on the Date of Grant [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options granted | 320,000 | 0 | 0 | 0 | 0 | 0 | 0 | 40,000 | 320,000 | ' | ' |
Stock options granted, exercise price | $0.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options, lapsed | ' | 0 | 0 | 0 | 0 | 0 | 200,000 | ' | 40,000 | ' | ' |
Stock options granted, fair value | ' | ' | ' | ' | ' | ' | ' | $11,979 | $43,681 | ' | ' |
Stock options granted fair value assumptions, risk free interest rate | ' | ' | ' | ' | ' | ' | ' | 4.50% | 4.50% | ' | ' |
Stock options granted fair value assumptions, expected term | ' | ' | ' | ' | ' | '2 years 6 months | '2 years 6 months | '2 years 6 months | '2 years 6 months | ' | ' |
Stock options granted fair value assumptions, volatility rates | ' | ' | ' | ' | ' | ' | ' | 161.04% | 120.89% | ' | ' |
Aggregate percentage of total shares of common stock outstanding reserved for awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' |
Maximum shares of common stock plan participant may receive in any one calendar year | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' |
Exercise price of incentive stock option as a percentage of fair market value of common stock on date of grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 110.00% |
Stock_Options_and_Warrants_Det
Stock Options and Warrants (Detail) (USD $) | 0 Months Ended | 3 Months Ended | ||||||||
Jan. 13, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | |
Stock Options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding and exercisable beginning balance | ' | 1,930,000 | 1,930,000 | 1,930,000 | 1,930,000 | 1,930,000 | 2,130,000 | 2,090,000 | 1,810,000 | ' |
Forfeited | ' | 0 | 0 | 0 | 0 | 0 | -200,000 | ' | -40,000 | ' |
Granted | 320,000 | 0 | 0 | 0 | 0 | 0 | 0 | 40,000 | 320,000 | ' |
Outstanding and exercisable at ending balance | ' | 1,930,000 | 1,930,000 | 1,930,000 | 1,930,000 | 1,930,000 | 1,930,000 | 2,130,000 | 2,090,000 | 1,810,000 |
Weighted Average Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding and exercisable beginning balance | ' | $0.40 | $0.40 | $0.40 | $0.40 | $0.40 | $0.49 | $0.45 | $0.55 | ' |
Forfeited | ' | $0 | $0 | $0 | $0 | $0 | $1.30 | ' | $1.30 | ' |
Granted | ' | $0 | $0 | $0 | $0 | $0 | $0 | $0.33 | $0.25 | ' |
Outstanding and exercisable at ending balance | ' | $0.40 | $0.40 | $0.40 | $0.40 | $0.40 | $0.40 | $0.49 | $0.45 | $0.55 |
Remaining Contractual Life (years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining Contractual Life (years) | ' | '2 years 7 months 6 days | '2 years 9 months 29 days | '3 years 22 days | '3 years 3 months 11 days | '3 years 6 months 4 days | '3 years 8 months 26 days | '3 years 11 months 19 days | '4 years 2 months 16 days | '4 years 3 months 11 days |
Aggregate Intrinsic value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding and exercisable beginning balance | ' | ' | ' | ' | ' | $52,500 | $34,125 | $42,000 | $36,500 | ' |
Outstanding and exercisable ending balance | ' | ' | ' | ' | ' | ' | $52,500 | $34,125 | $42,000 | $36,500 |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Directors And Officers [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Related Party Transaction, Expenses from Transactions with Related Party | $445,337 | $301,714 |
Payable to officer/director for consulting fee and various expenses | 42,800 | 126,220 |
Affiliated Entity [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Related Party Transaction, Expenses from Transactions with Related Party | $126,000 | $79,171 |
Vehicles_and_Other_Equipment_D
Vehicles and Other Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross, Total | $421,762 | $103,044 |
Accumulated depreciation | -44,230 | -5,128 |
Net book value | 377,532 | 97,916 |
Mining Properties and Mineral Rights [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross, Total | 288,300 | 2,889 |
Vehicles [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross, Total | 129,457 | 96,623 |
Office Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross, Total | $4,005 | $3,532 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Operating Loss Carryforwards [Line Items] | ' | ' |
Amount | $14,158,885 | $9,064,099 |
Percent of income allowable to be offset | 30.00% | ' |
The tax effects of temporary differences that give rise to the Company's net deferred tax asset are as follows: | ' | ' |
Tax loss carry forwards | 7,895,814 | 6,737,948 |
Valuation allowance | -8,048,548 | -6,890,682 |
Stock compensation expense | 152,734 | 152,734 |
The reconciliation of income tax computed at the federal statutory rate to income tax expense is as follows: | ' | ' |
Tax at statutory rate | -1,157,866 | -408,127 |
Movement in deferred tax asset | 0 | 191,760 |
Change in valuation allowance for deferred tax asset | 1,157,866 | 135,779 |
Other | 0 | 80,588 |
Income tax expense | 0 | 0 |
2018 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2018 | ' |
Amount | 331,000 | ' |
2019 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2019 | ' |
Amount | 795,000 | ' |
2020 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2020 | ' |
Amount | 550,000 | ' |
2022 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2022 | ' |
Amount | 138,000 | ' |
2023 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2023 | ' |
Amount | 90,000 | ' |
2024 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2024 | ' |
Amount | 222,000 | ' |
2025 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2025 | ' |
Amount | 457,000 | ' |
2026 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2026 | ' |
Amount | 1,094,000 | ' |
2027 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2027 | ' |
Amount | 800,000 | ' |
2028 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2028 | ' |
Amount | 561,000 | ' |
2029 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2029 | ' |
Amount | 479,000 | ' |
2030 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2030 | ' |
Amount | 2,065,000 | ' |
2031 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2031 | ' |
Amount | 3,921,183 | ' |
2032 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2032 | ' |
Amount | 753,861 | ' |
2033 [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Fiscal Year of Expiry | '2033 | ' |
Amount | $1,901,841 | ' |
Subsequent_events_Narrative_De
Subsequent events (Narrative) (Details) (Subsequent Event [Member], Alltech Capital Limited [Member], USD $) | 0 Months Ended |
Feb. 13, 2014 | |
Subsequent Event [Member] | Alltech Capital Limited [Member] | ' |
Subsequent Event [Line Items] | ' |
Common Stock, Shares Subscribed but Unissued | 1,360,000 |
Shares Issued, Price Per Share | $0.07 |
Warrant Validity | '2 years |
Warrant Strike Price | $0.15 |