Comstock (LODE) 10-Q 20 Oct 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 18, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Entity Registrant Name	Comstock Mining Inc.
Entity Central Index Key	1,120,970
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		184,493,252

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 446,553	$ 1,663,170
Accounts receivable	22,965	24,642
Inventories (Note 2)	88,973	450,951
Stockpiles and mineralized material on leach pads (Note 2)	340,274	1,322,211
Assets held for sale, Net (Note 4)	5,894,220	0
Prepaid expenses and other current assets (Note 3)	3,206,986	2,188,053
Total current assets	9,999,971	5,649,027
MINERAL RIGHTS AND PROPERTIES, Net	7,205,081	7,205,081
PROPERTIES, PLANT AND EQUIPMENT, Net (Note 4)	15,917,416	26,596,859
RECLAMATION BOND DEPOSIT	2,622,544	2,642,804
RETIREMENT OBLIGATION ASSET (Note 5)	484,625	1,107,120
OTHER ASSETS	12,000	12,000
TOTAL ASSETS	36,241,637	43,212,891
CURRENT LIABILITIES:
Accounts payable	816,070	1,964,371
Accrued expenses (Note 6)	1,447,950	1,639,526
Long-term debt and capital lease obligations – current portion (Note 7)	5,571,857	8,538,336
Total current liabilities	7,835,877	12,142,233
LONG-TERM LIABILITIES:
Long-term debt and capital lease obligations (Note 7)	3,346,760	4,759,213
Long-term reclamation liability (Note 5)	6,966,902	6,827,568
Other liabilities	677,838	724,407
Total long-term liabilities	10,991,500	12,311,188
Total liabilities	18,827,377	24,453,421
COMMITMENTS AND CONTINGENCIES (Note 11)
STOCKHOLDERS’ EQUITY:
Common stock, $.000666 par value, 3,950,000,000 shares authorized, 182,543,252 and 159,917,711 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	121,574	106,505
Additional paid-in capital	225,455,601	217,716,500
Accumulated deficit	(208,162,915)	(199,063,535)
Total stockholders’ equity	17,414,260	18,759,470
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 36,241,637	$ 43,212,891

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value per share (in dollars per share)	$ 0.000666	$ 0.000666
Common stock, shares authorized	3,950,000,000	3,950,000,000
Common stock, shares issued	182,543,252	159,917,711
Common stock, shares outstanding	182,543,252	159,917,711

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
REVENUES
Revenue - mining	$ 1,106,196	$ 4,301,169	$ 4,544,951	$ 15,670,371
Revenue - real estate	28,599	43,904	101,641	200,411
Total revenues	1,134,795	4,345,073	4,646,592	15,870,782
COST AND EXPENSES
Costs applicable to mining revenue	829,558	3,450,311	3,507,795	10,388,054
Real estate operating costs	31,367	42,549	176,120	303,843
Exploration and mine development	589,351	1,505,492	4,027,859	2,639,346
Mine claims and costs	358,886	327,352	929,196	1,041,580
Environmental and reclamation	296,493	533,240	1,026,427	1,545,184
Land and road development	56,424	818,474	77,328	1,680,720
General and administrative	640,162	1,637,313	2,667,298	5,095,306
Total cost and expenses	2,802,241	8,314,731	12,412,023	22,694,033
LOSS FROM OPERATIONS	(1,667,446)	(3,969,658)	(7,765,431)	(6,823,251)
OTHER INCOME (EXPENSE)
Interest expense	(165,212)	(337,700)	(603,307)	(891,824)
Other income (expense), net	(360,543)	0	(730,642)	3,187,385
Total other income (expense), net	(525,755)	(337,700)	(1,333,949)	2,295,561
NET INCOME (LOSS) BEFORE INCOME TAXES	(2,193,201)	(4,307,358)	(9,099,380)	(4,527,690)
INCOME TAXES	0	0	0	0
NET INCOME (LOSS)	(2,193,201)	(4,307,358)	(9,099,380)	(4,527,690)
DIVIDENDS ON CONVERTIBLE PREFERRED STOCK	0	(3,644,888)	0	(5,452,445)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$ (2,193,201)	$ (7,952,246)	$ (9,099,380)	$ (9,980,135)
Net income (loss) per common share – basic (in dollars per share)	$ (0.01)	$ (0.07)	$ (0.05)	$ (0.11)
Net income (loss) per common share – diluted (in dollars per share)	$ (0.01)	$ (0.07)	$ (0.05)	$ (0.11)
Weighted average common shares outstanding — basic	182,134,873	112,133,768	174,173,436	94,036,959
Weighted average common shares outstanding — diluted	182,134,873	112,133,768	174,173,436	94,036,959

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
OPERATING ACTIVITIES:
Net income (loss)	$ (9,099,380)	$ (4,527,690)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation, amortization and depletion	4,643,513	5,789,517
Stock payments and stock-based compensation	18,900	152,431
Accretion of reclamation liability	139,334	192,880
(Gain)/Loss on sale of properties, plant, and equipment	(357,037)	77,579
Amortization of debt discounts and issuance costs	182,471	464,391
Payment of interest expense and sales tax with common stock	299,379	0
Loss on payment of debt obligation with common stock	150,166	0
Net change in fair values of derivatives	0	(5,451)
Changes in operating assets and liabilities:
Accounts receivable	1,677	322,406
Inventories	361,978	119,242
Stockpiles and mineralized material on leach pads	981,937	1,037,984
Prepaid expenses and other current assets	(271,687)	(654,724)
Other assets	0	19,411
Accounts payable	(48,301)	(650,075)
Accrued expenses and other liabilities	(238,144)	(1,909,098)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(3,235,194)	428,803
INVESTING ACTIVITIES:
Proceeds from sale of properties, plant and equipment	3,277,011	117,065
Purchase of mineral rights and properties, plant and equipment	(150,325)	(4,861,914)
Decrease/(increase) in reclamation bond deposit	20,260	(100,000)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	3,146,946	(4,844,849)
FINANCING ACTIVITIES:
Principal payments on long-term debt and capital lease obligations	(5,648,610)	(7,828,660)
Proceeds from long-term debt obligations	925,000	9,419,392
Proceeds from the issuance of common stock	4,180,944	0
Common stock issuance costs	(585,703)	0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	(1,128,369)	1,590,732
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(1,216,617)	(2,825,314)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	1,663,170	5,308,804
CASH AND CASH EQUIVALENTS, END OF PERIOD	446,553	2,483,490
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	321,405	995,292
Supplemental disclosure of non-cash investing and financing activities:
Additions to reclamation liability and retirement obligation asset	0	659,295
Issuance of common stock for properties, plant and equipment	0	966,819
Issuance of common stock for settlement of long-term debt obligations	4,140,029	0
Dividends paid in common stock (par value)	0	7,887
Issuance of long-term debt obligations for purchase of mineral rights and properties, plant and equipment	3,200,000	2,046,745
Vested restricted common stock (par value)	36	40
Properties, plant and equipment purchases in accounts payable	0	24,268
Property transferred in satisfaction of accounts payable	$ 1,100,000	$ 0

Interim Financial Statements

Interim Financial Statements	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim Financial Statements	Interim Financial Statements Basis of Presentation The interim condensed consolidated financial statements of Comstock Mining Inc., and subsidiaries (“Comstock”, the “Company”, “we”, “our” or “us”) have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In our opinion, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine month periods ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . For further information, refer to the financial statements and footnotes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 . During the three and nine months ended September 30, 2016 , the Company shipped 853 and 3,810 ounces of gold, respectively, resulting in recognized revenue of approximately $1.1 million and $4.5 million , respectively. During the three and nine months ended September 30, 2016 , the Company shipped 17,510 and 69,079 ounces of silver, respectively, for approximately $0.3 million and $1.1 million , respectively. Silver is accounted for as a by-product credit in costs applicable to mining revenue for financial reporting purposes. Liquidity and Management Plans The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which considers the realization of assets and discharge of liabilities in the normal course of business and does not include any adjustments that might result from the outcome of uncertainties noted below. The Company has recurring net losses from operations and an accumulated deficit of $208.2 million at September 30, 2016 . For the nine -month period ended September 30, 2016 , the Company recognized a net loss of $9.1 million and used $3.2 million of cash in operations. As of September 30, 2016 , the Company had cash and cash equivalents of $0.4 million , current assets of $10.0 million and current liabilities of $7.8 million , resulting in current assets in excess of current liabilities of approximately $2.2 million . On March 31, 2016, and April 13, 2016, the Company completed an underwritten public offering totaling 11,500,000 shares of its common stock. Gross proceeds to the Company from this offering were approximately $4.0 million before deducting underwriting commissions and other offering expenses of $0.5 million paid by the Company. The Company’s current capital resources include cash and cash equivalents and other working capital resources, cash generated through operations, assets held for sale and existing financing arrangements including a lease financing agreement and the revolving credit facility (the “Revolving Credit Facility”) with Auramet International, LLC (“Auramet”). The Revolving Credit Facility was fully paid on April 1, 2016, from part of the proceeds from the sale of the Company’s common stock on March 31, 2016. Under the Revolving Credit Facility, the Company may have borrowings of up to $10 million outstanding at any given time, subject to satisfying certain conditions and obtaining certain consents. The Revolving Credit Facility has a maturity of April 28, 2018, and allows for re-advances on the facility up to the $10 million availability. The Company has financed its exploration, development and start up activities principally from the sale of equity securities and, to a lesser extent, debt financing. While the Company has been successful in the past in obtaining the necessary capital to support its operations, including registered equity financings from its existing shelf registration statement, borrowings or other means, there is no assurance that the Company will be able to obtain additional equity capital or other financing, if needed. Effective June 28, 2016, the Company entered into a sales agreement with respect to an at-the-market offering program (“ATM Agreement”) pursuant to which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock, having an aggregate offering price of up to $5.0 million. The Company pays the sales agent a commission of 2.5% of the gross proceeds from the sale of such shares. The Company is not obligated to make any sales of shares under the ATM Agreement, and if it elects to make any sales, the Company can set a minimum sales price for the shares. The Company believes that it will have sufficient funds to sustain its operations during the next 12 months as a result of the sources of funding described above. Future production rates and gold prices below management’s expectations, declines in the market value of properties held for sale, or declines in the share price of the Company’s common stock could adversely affect the Company’s results of operations, financial condition and cash flows. If the Company was unable to obtain any necessary additional funds, this could have an immediate material effect on liquidity and could raise substantial doubt about the Company’s ability to continue as a going concern. In such case, the Company could be required to limit or discontinue certain business plans, activities or operations, reduce or delay certain capital expenditures or sell certain assets or businesses. There can be no assurance that the Company would be able to take any of such actions on favorable terms, in a timely manner or at all. Use of Estimates In preparing financial statements in conformity with generally accepted accounting principles, we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenditures during the reported periods. Actual results could differ materially from those estimates. Estimates may include those pertaining to valuation of inventories, stockpiles and mineralized material on leach pads, the estimated useful lives and valuation of plant and equipment, mineral rights, deferred tax assets, derivative assets and liabilities, reclamation liabilities, stock-based compensation and payments, and contingent liabilities. Comprehensive Income The only component of comprehensive loss for the three and nine months ended September 30, 2016 and 2015 , was net loss. Income Taxes We recognize deferred tax assets and liabilities based on differences between the consolidated financial statement carrying amounts and tax bases of certain recorded assets and liabilities and for tax loss carryforwards. Realization of deferred tax assets is dependent upon our ability to generate sufficient future taxable earnings. Where it is more likely than not that the deferred tax asset will not be realized, we have provided a full valuation allowance. The Company has provided a full valuation allowance at September 30, 2016 and December 31, 2015 , for its net deferred tax assets as it cannot conclude it is more likely than not that they will be realized. Recently Issued Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-09, Compensation - Stock Compensation (Topic 718). This standard is intended to simplify the accounting for several aspects of the accounting for equity-based compensation, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for interim and annual reporting periods beginning after December 15, 2016 and early adoption is permitted. The Company is currently evaluating the effect that adopting this new accounting guidance will have on its consolidated results of operations and financial position. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Topic 842 affects any entity that enters into a lease, with some specified scope exceptions. For public business entities, the amendments in this update are effective for financial statements issued for annual periods beginning after December 15, 2018, and interim periods within those annual periods. Early application is permitted for all entities. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements, which will require right of use assets and lease liabilities be recorded in the consolidated balance sheet for operating leases. In May 2014, the FASB issued ASU 2014-09, which introduces a new five-step revenue recognition model in which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This standard was originally effective for fiscal years beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers, which defers the effective date of ASU 2014-09 for all entities by one year to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers - Identifying Performance Obligations and Licensing, which is an amendment that clarifies the following two aspects of the new five-step revenue recognition model: identifying performance obligations and the licensing implementation guidance. The effective date and transition requirements for the amendments in this update are the same as ASU 2015-14. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements. Reclassifications Certain reclassifications have been made to the prior period consolidated financial statements to conform to the current period presentation. The Company reclassified its asset retirement obligation expenses from Mining Claims Cost to Environmental and Reclamation line item in the consolidated statements of operations. As a result of this change, Mining Claims Cost line item was reduced by $364,092 and $1,071,226 for the three and nine months ended September 30, 2015, respectively, and Environmental and Reclamation increased by such amounts.

Inventories, Stockpiles and Min

Inventories, Stockpiles and Mineralized Material on Leach Pads	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventories, Stockpiles and Mineralized Material on Leach Pads	Inventories, Stockpiles and Mineralized Material on Leach Pads Inventories, stockpiles and mineralized materials on leach pads consisted of the following: September 30, 2016 December 31, 2015 In-process $ 88,973 $ 249,130 Finished goods — 201,821 Total inventories $ 88,973 $ 450,951 Mineralized material on leach pads $ 340,274 $ 1,322,211 Total Inventories, Stockpiles and Mineralized Material on Leach Pads $ 429,247 $ 1,773,162 At September 30, 2016, the Company’s estimate of recoverable gold ounces on the leach pad increased from previously estimated 87.5% to 88.5% . This change increased our recoverable gold ounces in mineralized material on leach pad during the quarter ended September 30, 2016 , by approximately 318 ounces and, as a result, inventories and stockpiles and mineralized material on leach pad increased and costs applicable to mining revenue decreased by approximately $0.5 million during the three months ending September 30, 2016.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	9 Months Ended
	Sep. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: September 30, 2016 December 31, 2015 Land and property deposits $ 1,293,188 $ 1,169,285 Lease obligation deposits 1,251,847 231,000 Other 661,951 787,768 Total prepaid expenses and other current assets $ 3,206,986 $ 2,188,053

Properties, Plant and Equipment

Properties, Plant and Equipment	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Properties, Plant and Equipment	Properties, Plant and Equipment The Company sold land and equipment with a book value of approximately $4.0 million during the nine months ended September 30, 2016 , and recorded a gain on the sale of that land and equipment totaling $0.4 million . During the three and nine months ended September 30, 2016 , the Company recognized depreciation expense of $1.1 million and $4.0 million , respectively. Depreciation expense for the three and nine -month periods ended September 30, 2015, was $1.6 million and $4.8 million , respectively. Assets Held For Sale The Company committed to a plan to sell certain land and buildings. As of September 30, 2016 , the Company had assets with a net book value of $5.9 million that met the criteria to be classified as assets held for sale. Those criteria specify that the asset must be available for immediate sale in its present condition (subject only to terms that are usual and customary for sales of such assets), the sale of the asset must be probable, and its transfer expected to qualify for recognition as a completed sale generally within one year.

Long-Term Reclamation Liability

Long-Term Reclamation Liability and Retirement Obligation Asset	9 Months Ended
	Sep. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Long-Term Reclamation Liability and Retirement Obligation Asset	Long-Term Reclamation Liability and Retirement Obligation Asset Following is a reconciliation of the aggregate reclamation liability associated with our reclamation plan for our mining projects: September 30, 2016 December 31, 2015 Long-term reclamation liability — beginning of period $ 6,827,568 $ 5,908,700 Additional obligations incurred — 659,295 Accretion of reclamation liability 139,334 259,573 Long-term reclamation liability — end of period $ 6,966,902 $ 6,827,568 Following is a reconciliation of the aggregate retirement obligation asset associated with our reclamation plan for our mining projects: September 30, 2016 December 31, 2015 Retirement obligation asset — beginning of period $ 1,107,120 $ 1,619,101 Additional obligations incurred — 659,295 Amortization of retirement obligation asset (622,495 ) (1,171,276 ) Retirement obligation asset — end of period $ 484,625 $ 1,107,120

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consisted of the following: September 30, 2016 December 31, 2015 Accrued Northern Comstock Joint Venture 760,208 150,833 Accrued Board of Directors fees 357,425 251,000 Accrued payroll 106,808 174,640 Accrued vendor liabilities 83,801 633,282 Accrued production royalties 47,119 120,332 Accrued personal property tax 41,436 115,907 Other accrued expenses 51,153 193,532 Total accrued expenses $ 1,447,950 $ 1,639,526

Long-Term Debt and Capital Leas

Long-Term Debt and Capital Lease Obligations	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Long-Term Debt and Capital Lease Obligations	Long-Term Debt and Capital Lease Obligations Long-term debt and capital lease obligations consisted of the following: Note Description September 30, 2016 December 31, 2015 Note Payable - Silver Springs Property $ 3,290,624 $ — Note Payable - Caterpillar Equipment Consolidated 1) 1,575,743 — Note Payable - Caterpillar Equipment 1) — 2,679,723 Capital Lease Obligation - Caterpillar Equipment 1) — 1,652,934 Finance Obligation - Varilease 2,105,377 3,556,479 Note Payable - V&T 348,203 750,000 Note Payable - Donovan Property 329,360 414,389 Note Payable - White House 276,884 281,139 Note Payable - Daney Ranch Property 299,954 1,139,834 Note Payable - Gold Hill Hotel 244,289 259,173 Note Payable - Dayton Property “Golden Goose” 111,305 489,212 Note Payable - Railroad & Gold Property 87,237 110,725 Capital Lease Obligation - Kimball 38,134 104,522 Notes Payable - Other 211,507 259,419 Note Payable - Auramet Facility — 1,600,000 Subtotal 8,918,617 13,297,549 Less current portion (5,571,857 ) (8,538,336 ) Long-term portion of long-term debt and capital lease obligations $ 3,346,760 $ 4,759,213 1) Note Payable - Caterpillar Equipment and Capital Lease Obligation - Caterpillar Equipment balances on December 31, 2015, were consolidated into Caterpillar Equipment Consolidated note on June 27, 2016. For details see discussion below. Long-Term Debt Obligations Silver Springs Property On July 25, 2016, a wholly-owned subsidiary of the Company purchased 98 acres of land and 257 acre-feet of senior-priority water rights in Silver Springs, Nevada for $3.2 million and entered into a Loan Agreement (the “Loan Agreement”) of $3.3 million for the purpose of purchasing the real property and water rights. The loan agreement was made with GF Comstock 1 LP, a third party. Hard Rock Nevada Inc., an employee owned entity, participated in approximately $0.2 million of the loan through GF Comstock 1 LP. The indebtedness under the Loan Agreement is secured by a deed of trust on the property purchased. The Loan Agreement has a term of two years . The indebtedness under the Loan Agreement accrues interest at a rate of 9% per annum for the first year post-closing, 12.5% per annum for the six months that follow the first anniversary of the Loan Agreement and 14% per annum thereafter until such indebtedness is paid in full. Proceeds from the sale of the property securing the loan must be used to repay the indebtedness under the Loan Agreement. In addition to customary remedies for secured indebtedness on real property, the Loan Agreement allows the lender thereunder to convert the principal amount of the indebtedness into common stock of the Company upon a default. Caterpillar Equipment Facility On June 27, 2016, the Company completed an agreement with Caterpillar Financial Services Corporation relating to certain finance and lease agreements (the “CAT Agreement”). The Company entered into the CAT Agreement that required the Company to complete the sale of certain financed and leased equipment and modified the payment schedule under the related finance and lease arrangements. Under the terms of the CAT Agreement, the Company paid down its obligations with the net proceeds from the financed and leased equipment sold during the second and third quarters of 2016, with the remaining balance to be paid off from a monthly payment schedule of primarily $25,000 per month until the amounts have been paid in full. During the months of June, July and August, the Company sold equipment for net proceeds of approximately $2.1 million that was applied to principal and interest due on the loan. The note bears an interest rate of 5.7%. Auramet Facility On March 6, 2015, the Company entered into an amended and restated $5 million revolving credit facility (the “Revolving Credit Facility”) with Auramet, pursuant to which the Company may borrow up to $5 million , subject to satisfying certain conditions and obtaining certain consents. On March 6, 2015, the Company drew $5 million (the “Note”), representing cash proceeds of approximately $4.4 million , net of prepaid interest and fees of approximately $0.6 million . On December 28, 2015, the Company and Auramet agreed to increase the facility up to $10 million and extended the facility from the current maturity of February 6, 2017 to April 28, 2018. The indebtedness under the Revolving Credit Facility is secured by a security interest in certain real estate owned by the Company within the Company’s starter mine and a first priority security interest in all personal property of the Company and its wholly-owned subsidiary Comstock Mining LLC, subject to any existing or future Permitted Liens (as defined under the Revolving Credit Facility). The proceeds from the Note were primarily used for an accelerated construction schedule for rerouting State Route 342, located in the Company’s Lucerne Resource Area, the first phase of which was completed in early June 2015, and the second phase was completed in November 2015. The Note contains a covenant that requires the Company to maintain a minimum liquidity balance of $1 million (including cash and cash equivalents, plus 90% of the value of any doré that has been picked up by a secured carrier but not yet paid for, as of any date of determination). The Note additionally contains customary representations, warranties, affirmative covenants, negative covenants, and events of default, as well as conditions to borrowings. The note was fully repaid on April 1, 2016, from proceeds from the sale of the Company’s common stock on March 31, 2016. Daney Ranch Property On August 31, 2015, the Company entered into a note in the amount of $1.8 million for the purchase of land and buildings. The note does not bear interest. Upon entering into the note, the Company issued 1,538,462 shares of common stock to the noteholder as partial payment on the note. In February 2016, an additional 3,000,000 shares of common stock were issued to the noteholder to be sold in satisfaction of the outstanding principal balance. In August 2016, the maturity date was extended to April 29, 2017. To the extent proceeds received by the noteholder from the sale of the shares received are less than the outstanding principal balance, the Company would make a final payment for the difference. Dayton Property “Golden Goose” During 2016, the Company amended the Golden Goose note, extended the maturity to January 2017, and issued 1,000,000 shares of common stock to be sold in partial satisfaction of the outstanding principal balance. To the extent proceeds received by the noteholder from the sale of the shares received are less than the outstanding principal balance, the Company would make a final payment for the difference. Varilease Finance Inc. On May 12, 2015, the Company entered into a master lease agreement with Varilease Finance Inc. ( “ Varilease ” ) in which the Company obtained capital financing under a sale-leaseback transaction in the amount of $5 million. Due to certain types of continuing involvement, the Company was precluded from applying sale-leaseback accounting and has accounted for the transaction under the financing method. The Company ’ s obligations under the Varilease agreement are secured by an interest in the Company ’ s processing equipment in exchange for 24 monthly payments of $247,830 totaling the cash proceeds of $5 million and applicable interest. During the nine months ended September 30, 2016, the Company issued 6,617,896 shares of common stock in partial satisfaction of lease payment obligations through the remainder of 2016. To the extent proceeds received by Varilease from the sale of the shares received are less than the lease payments required to be made, the Company would make a final cash payment for the difference. As of September 30, 2016 , 2,898,796 shares remain unsold by Varilease. The fair value of the shares that have been issued to Varilease but remain unsold as of September 30, 2016 is $1.0 million and is recorded in prepaid expenses and other current assets in the accompanying condensed consolidated balance sheets.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity In March 2016, the Company raised $3.5 million in gross proceeds (approximately $3.0 million net of issuance cost) through an underwritten public offering of 10 million shares of common stock at a price per share of $0.35 under the Company’s Registration Statement on Form S-3. In April 2016, the Company raised an additional $525,000 in gross proceeds through the sale of an additional 1,500,000 shares of common stock at a price per share of $0.35 to the underwriter of the Company’s public offering of common stock closed in March 2016. The sale was completed pursuant to the underwriter’s exercise of the over-allotment option granted in connection with the public offering. At-the-Market Offering Program Effective June 28, 2016, the Company entered into a sales agreement with respect to an at-the-market offering program (“ATM Agreement”) pursuant to which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock, having an aggregate offering price of up to $5.0 million. The Company pays the sales agent a commission of 2.5% of the gross proceeds from the sale of such shares. The Company is not obligated to make any sales of shares under the ATM Agreement, and if it elects to make any sales, the Company can set a minimum sales price for the shares. Following is a reconciliation of the transactions under the ATM Agreement as of September 30, 2016 : September 30, 2016 Number of shares sold 417,500 Gross proceeds $ 155,944 Fees $ 4,147 Net proceeds $ 151,797 Average price per share $ 0.37

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined into the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. The following tables presents our liabilities measured at fair value on a recurring basis: Fair Value Measurements at September 30, 2016 Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Note payable (Daney Ranch Property) $ 299,954 $ — $ 299,954 $ — Note payable (Dayton Property “Golden Goose”) 111,305 — 111,305 — Total Liabilities $ 411,259 $ — $ 411,259 $ — Fair Value Measurements at December 31, 2015 Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Note payable (Daney Ranch Property) $ 1,139,834 $ — $ 1,139,834 $ — Total Liabilities $ 1,139,834 $ — $ 1,139,834 $ — We had no assets measured at fair value on a non-recurring basis at September 30, 2016 and December 31, 2015 . During the nine months ended September 30, 2016 , and twelve months ended December 31, 2015 , there were no transfers of assets or liabilities between Level 1, Level 2 or Level 3. Note payable (Daney Ranch Property) - The note payable is valued as the difference between the $1.8 million face amount, reduced by the proceeds to be received by the noteholder from the sale of the 4,538,462 shares of common stock to be sold through April 2017 by the noteholder. The Company has estimated the proceeds to be received upon the sale of the common stock by the noteholder using the Black-Scholes model with various observable inputs. These inputs include contractual terms, stock price, volatility, dividend yield, and risk free interest rates. Because the inputs are all observable market-based inputs, this instrument is classified within Level 2 of the valuation hierarchy. Note payable (Dayton Property “Golden Goose”) - The note payable is valued as the difference between the $0.5 million face amount, reduced by the proceeds to be received by the noteholder from the sale of the 1,000,000 shares of common stock to be sold by the maturity date of January 2017, by the noteholder. The Company has estimated the proceeds to be received upon the sale of the common stock by the noteholder using the Black-Scholes model with various observable inputs. These inputs include contractual terms, stock price, volatility, dividend yield, and risk free interest rates. Because the inputs are all observable market-based inputs, this instrument is classified within Level 2 of the valuation hierarchy.

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	Net Income (Loss) Per Common Share Basic earnings per share are computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if stock options and convertible securities were exercised or converted into common stock. The following is a reconciliation of the numerator and denominator used in the basic and diluted computation of net loss per share: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Numerator: Net income (loss) $ (2,193,201 ) $ (4,307,358 ) $ (9,099,380 ) $ (4,527,690 ) Preferred stock dividends — (3,644,888 ) — (5,452,445 ) Net income (loss) available to common shareholders $ (2,193,201 ) $ (7,952,246 ) $ (9,099,380 ) $ (9,980,135 ) Denominator: Basic weighted average shares outstanding 182,134,873 112,133,768 174,173,436 94,036,959 Effect of dilutive securities — — — — Diluted weighted average shares outstanding 182,134,873 112,133,768 174,173,436 94,036,959 Net income (loss) per common share: Basic $ (0.01 ) $ (0.07 ) $ (0.05 ) $ (0.11 ) Diluted $ (0.01 ) $ (0.07 ) $ (0.05 ) $ (0.11 ) The following table includes the number of common stock equivalent shares that are not included in the computation of diluted income/(loss) per share, because the inclusion of such shares would be anti-dilutive or certain performance conditions have not been achieved. September 30, 2016 2015 Stock options and warrants 50,000 50,000 Restricted stock 1,420,000 1,688,000 1,470,000 1,738,000

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company has minimum royalty obligations with certain of its mineral properties and leases. For most of the mineral properties and leases, the Company is subject to a range of royalty obligations once production commences. These royalties range from 0.5% to 5% of net smelter revenues (NSR) from minerals produced on the properties, with the majority being under 3% . Some of the factors that will influence the amount of the royalties include ounces extracted and the price of gold. On March 28, 2016, the Company entered into a Drilling and Development Services for Common Stock Investment Agreement (the “Stock Investment Agreement”) between the Company and American Mining & Tunneling, LLC and American Drilling Corp, LLC (collectively “American”), pursuant to which the Company agreed to issue up to 9,000,000 shares of the Company’s common stock to American, in exchange for $5,000,000 in future underground mine development, drilling and mining services. When the American shares are issued, they will be restricted shares subject to a six -month holding period by American, during which time the issued American shares may not be sold. American has also agreed not to sell the shares at a per share price of less than $0.56 . The Stock Investment Agreement contains customary representations, warranties and agreements in connection with the issuance of the American shares, and conditions to closing include the Company’s obligation to file with NYSE MKT LLC a supplemental listing application relating to the American shares that has been approved by NYSE MKT LLC. As of September 30, 2016 , no shares had been issued. The Company’s mining and exploration activities are subject to various laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. From time to time, we are involved in lawsuits, claims, investigations and proceedings that arise in the ordinary course of business. There are no matters pending that we expect to have a material adverse impact on our business, results of operations, financial condition or cash flows.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Our management organizes the Company into two operating segments: mining and real estate. Our mining segment consists of all activities and expenditures associated with mining. Our real estate segment consists of land, real estate rental properties and the Gold Hill Hotel. We evaluate the performance of our operating segments based on operating income (loss). All intercompany transactions have been eliminated, and intersegment revenues are not significant. Financial information relating to our reportable operating segments and reconciliation to the consolidated totals is as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Revenue Mining $ 1,106,196 $ 4,301,169 $ 4,544,951 $ 15,670,371 Real estate 28,599 43,904 101,641 200,411 Total revenue 1,134,795 4,345,073 4,646,592 15,870,782 Cost and Expenses Mining (2,770,874 ) (8,272,182 ) (12,235,903 ) (22,390,190 ) Real estate (31,367 ) (42,549 ) (176,120 ) (303,843 ) Total cost and expenses (2,802,241 ) (8,314,731 ) (12,412,023 ) (22,694,033 ) Operating Income (Loss) Mining (1,664,678 ) (3,971,013 ) (7,690,952 ) (6,719,819 ) Real estate (2,768 ) 1,355 (74,479 ) (103,432 ) Total loss from operations (1,667,446 ) (3,969,658 ) (7,765,431 ) (6,823,251 ) Other income (expense), net (525,755 ) (337,700 ) (1,333,949 ) 2,295,561 Net income (loss) $ (2,193,201 ) $ (4,307,358 ) $ (9,099,380 ) $ (4,527,690 ) Depreciation, Depletion and Amortization Mining $ 1,268,352 $ 1,921,305 $ 4,509,065 $ 5,701,880 Real estate 19,984 32,120 134,448 87,637 Total depreciation, amortization and depletion $ 1,288,336 $ 1,953,425 $ 4,643,513 $ 5,789,517 Capital Expenditures Mining $ — $ 3,893,218 $ 334,840 $ 7,544,841 Real estate 3,200,000 — 5,461,263 14,663 Total capital expenditures $ 3,200,000 $ 3,893,218 $ 5,796,103 $ 7,559,504 As of September 30, As of December 31, 2016 2015 Assets Mining $ 30,234,178 $ 41,886,124 Real estate 6,007,459 1,326,767 Total assets $ 36,241,637 $ 43,212,891

Interim Financial Statements (P

Interim Financial Statements (Policies)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	Use of Estimates In preparing financial statements in conformity with generally accepted accounting principles, we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenditures during the reported periods. Actual results could differ materially from those estimates. Estimates may include those pertaining to valuation of inventories, stockpiles and mineralized material on leach pads, the estimated useful lives and valuation of plant and equipment, mineral rights, deferred tax assets, derivative assets and liabilities, reclamation liabilities, stock-based compensation and payments, and contingent liabilities.
Income Taxes	Income Taxes We recognize deferred tax assets and liabilities based on differences between the consolidated financial statement carrying amounts and tax bases of certain recorded assets and liabilities and for tax loss carryforwards. Realization of deferred tax assets is dependent upon our ability to generate sufficient future taxable earnings. Where it is more likely than not that the deferred tax asset will not be realized, we have provided a full valuation allowance.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-09, Compensation - Stock Compensation (Topic 718). This standard is intended to simplify the accounting for several aspects of the accounting for equity-based compensation, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for interim and annual reporting periods beginning after December 15, 2016 and early adoption is permitted. The Company is currently evaluating the effect that adopting this new accounting guidance will have on its consolidated results of operations and financial position. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Topic 842 affects any entity that enters into a lease, with some specified scope exceptions. For public business entities, the amendments in this update are effective for financial statements issued for annual periods beginning after December 15, 2018, and interim periods within those annual periods. Early application is permitted for all entities. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements, which will require right of use assets and lease liabilities be recorded in the consolidated balance sheet for operating leases. In May 2014, the FASB issued ASU 2014-09, which introduces a new five-step revenue recognition model in which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This standard was originally effective for fiscal years beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers, which defers the effective date of ASU 2014-09 for all entities by one year to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers - Identifying Performance Obligations and Licensing, which is an amendment that clarifies the following two aspects of the new five-step revenue recognition model: identifying performance obligations and the licensing implementation guidance. The effective date and transition requirements for the amendments in this update are the same as ASU 2015-14. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements.
Reclassifications	Reclassifications Certain reclassifications have been made to the prior period consolidated financial statements to conform to the current period presentation.

Inventories, Stockpiles and M19

Inventories, Stockpiles and Mineralized Material on Leach Pads (Tables)	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories, stockpiles and mineralized materials on leach pads consisted of the following: September 30, 2016 December 31, 2015 In-process $ 88,973 $ 249,130 Finished goods — 201,821 Total inventories $ 88,973 $ 450,951 Mineralized material on leach pads $ 340,274 $ 1,322,211 Total Inventories, Stockpiles and Mineralized Material on Leach Pads $ 429,247 $ 1,773,162

Prepaid Expenses and Other Cu20

Prepaid Expenses and Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following: September 30, 2016 December 31, 2015 Land and property deposits $ 1,293,188 $ 1,169,285 Lease obligation deposits 1,251,847 231,000 Other 661,951 787,768 Total prepaid expenses and other current assets $ 3,206,986 $ 2,188,053

Long-Term Reclamation Liabili21

Long-Term Reclamation Liability and Retirement Obligation Asset (Tables)	9 Months Ended
	Sep. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Other Noncurrent Liabilities	Following is a reconciliation of the aggregate reclamation liability associated with our reclamation plan for our mining projects: September 30, 2016 December 31, 2015 Long-term reclamation liability — beginning of period $ 6,827,568 $ 5,908,700 Additional obligations incurred — 659,295 Accretion of reclamation liability 139,334 259,573 Long-term reclamation liability — end of period $ 6,966,902 $ 6,827,568
Schedule of Asset Retirement Obligations	Following is a reconciliation of the aggregate retirement obligation asset associated with our reclamation plan for our mining projects: September 30, 2016 December 31, 2015 Retirement obligation asset — beginning of period $ 1,107,120 $ 1,619,101 Additional obligations incurred — 659,295 Amortization of retirement obligation asset (622,495 ) (1,171,276 ) Retirement obligation asset — end of period $ 484,625 $ 1,107,120

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued expenses consisted of the following: September 30, 2016 December 31, 2015 Accrued Northern Comstock Joint Venture 760,208 150,833 Accrued Board of Directors fees 357,425 251,000 Accrued payroll 106,808 174,640 Accrued vendor liabilities 83,801 633,282 Accrued production royalties 47,119 120,332 Accrued personal property tax 41,436 115,907 Other accrued expenses 51,153 193,532 Total accrued expenses $ 1,447,950 $ 1,639,526

Long-Term Debt and Capital Le23

Long-Term Debt and Capital Lease Obligations (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Long-Term Debt and Capital Lease Obligations	Long-term debt and capital lease obligations consisted of the following: Note Description September 30, 2016 December 31, 2015 Note Payable - Silver Springs Property $ 3,290,624 $ — Note Payable - Caterpillar Equipment Consolidated 1) 1,575,743 — Note Payable - Caterpillar Equipment 1) — 2,679,723 Capital Lease Obligation - Caterpillar Equipment 1) — 1,652,934 Finance Obligation - Varilease 2,105,377 3,556,479 Note Payable - V&T 348,203 750,000 Note Payable - Donovan Property 329,360 414,389 Note Payable - White House 276,884 281,139 Note Payable - Daney Ranch Property 299,954 1,139,834 Note Payable - Gold Hill Hotel 244,289 259,173 Note Payable - Dayton Property “Golden Goose” 111,305 489,212 Note Payable - Railroad & Gold Property 87,237 110,725 Capital Lease Obligation - Kimball 38,134 104,522 Notes Payable - Other 211,507 259,419 Note Payable - Auramet Facility — 1,600,000 Subtotal 8,918,617 13,297,549 Less current portion (5,571,857 ) (8,538,336 ) Long-term portion of long-term debt and capital lease obligations $ 3,346,760 $ 4,759,213 1) Note Payable - Caterpillar Equipment and Capital Lease Obligation - Caterpillar Equipment balances on December 31, 2015, were consolidated into Caterpillar Equipment Consolidated note on June 27, 2016. For details see discussion below.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Schedule of Stock by Class	Following is a reconciliation of the transactions under the ATM Agreement as of September 30, 2016 : September 30, 2016 Number of shares sold 417,500 Gross proceeds $ 155,944 Fees $ 4,147 Net proceeds $ 151,797 Average price per share $ 0.37

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	The following tables presents our liabilities measured at fair value on a recurring basis: Fair Value Measurements at September 30, 2016 Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Note payable (Daney Ranch Property) $ 299,954 $ — $ 299,954 $ — Note payable (Dayton Property “Golden Goose”) 111,305 — 111,305 — Total Liabilities $ 411,259 $ — $ 411,259 $ — Fair Value Measurements at December 31, 2015 Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Note payable (Daney Ranch Property) $ 1,139,834 $ — $ 1,139,834 $ — Total Liabilities $ 1,139,834 $ — $ 1,139,834 $ —

Net Income (Loss) Per Common 26

Net Income (Loss) Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator used in Basic and Diluted Computation of New Loss Per Share	The following is a reconciliation of the numerator and denominator used in the basic and diluted computation of net loss per share: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Numerator: Net income (loss) $ (2,193,201 ) $ (4,307,358 ) $ (9,099,380 ) $ (4,527,690 ) Preferred stock dividends — (3,644,888 ) — (5,452,445 ) Net income (loss) available to common shareholders $ (2,193,201 ) $ (7,952,246 ) $ (9,099,380 ) $ (9,980,135 ) Denominator: Basic weighted average shares outstanding 182,134,873 112,133,768 174,173,436 94,036,959 Effect of dilutive securities — — — — Diluted weighted average shares outstanding 182,134,873 112,133,768 174,173,436 94,036,959 Net income (loss) per common share: Basic $ (0.01 ) $ (0.07 ) $ (0.05 ) $ (0.11 ) Diluted $ (0.01 ) $ (0.07 ) $ (0.05 ) $ (0.11 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table includes the number of common stock equivalent shares that are not included in the computation of diluted income/(loss) per share, because the inclusion of such shares would be anti-dilutive or certain performance conditions have not been achieved. September 30, 2016 2015 Stock options and warrants 50,000 50,000 Restricted stock 1,420,000 1,688,000 1,470,000 1,738,000

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of Financial Information Relating to Reportable Operating Segments and Reconciliation to Condensed Consolidated Totals	Financial information relating to our reportable operating segments and reconciliation to the consolidated totals is as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Revenue Mining $ 1,106,196 $ 4,301,169 $ 4,544,951 $ 15,670,371 Real estate 28,599 43,904 101,641 200,411 Total revenue 1,134,795 4,345,073 4,646,592 15,870,782 Cost and Expenses Mining (2,770,874 ) (8,272,182 ) (12,235,903 ) (22,390,190 ) Real estate (31,367 ) (42,549 ) (176,120 ) (303,843 ) Total cost and expenses (2,802,241 ) (8,314,731 ) (12,412,023 ) (22,694,033 ) Operating Income (Loss) Mining (1,664,678 ) (3,971,013 ) (7,690,952 ) (6,719,819 ) Real estate (2,768 ) 1,355 (74,479 ) (103,432 ) Total loss from operations (1,667,446 ) (3,969,658 ) (7,765,431 ) (6,823,251 ) Other income (expense), net (525,755 ) (337,700 ) (1,333,949 ) 2,295,561 Net income (loss) $ (2,193,201 ) $ (4,307,358 ) $ (9,099,380 ) $ (4,527,690 ) Depreciation, Depletion and Amortization Mining $ 1,268,352 $ 1,921,305 $ 4,509,065 $ 5,701,880 Real estate 19,984 32,120 134,448 87,637 Total depreciation, amortization and depletion $ 1,288,336 $ 1,953,425 $ 4,643,513 $ 5,789,517 Capital Expenditures Mining $ — $ 3,893,218 $ 334,840 $ 7,544,841 Real estate 3,200,000 — 5,461,263 14,663 Total capital expenditures $ 3,200,000 $ 3,893,218 $ 5,796,103 $ 7,559,504 As of September 30, As of December 31, 2016 2015 Assets Mining $ 30,234,178 $ 41,886,124 Real estate 6,007,459 1,326,767 Total assets $ 36,241,637 $ 43,212,891

Interim Financial Statements (D

Interim Financial Statements (Details)	Apr. 13, 2016USD ($)shares	Mar. 31, 2016USD ($)shares	Apr. 30, 2016USD ($)shares	Sep. 30, 2016USD ($)oz	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)oz	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Ounces of gold sold during the period | oz				853		3,810
Gold revenue				$ 1,106,196	$ 4,301,169	$ 4,544,951	$ 15,670,371
Ounces of silver sold during the period | oz				17,510		69,079
Silver sales				$ 300,000		$ 1,100,000
Retained earnings (accumulated deficit)				(208,162,915)		(208,162,915)		$ (199,063,535)
Net income (loss)				(2,193,201)	(4,307,358)	(9,099,380)	(4,527,690)
Net cash provided by (used in) operating activities						(3,235,194)	428,803
Cash and cash equivalents				446,553	$ 2,483,490	446,553	2,483,490	1,663,170	$ 5,308,804
Current assets				9,999,971		9,999,971		5,649,027
Current liabilities				7,835,877		7,835,877		$ 12,142,233
Current assets in excess of current liabilities				$ 2,200,000		2,200,000
Common stock issued during period (in shares) | shares	11,500,000	10,000,000	1,500,000
Proceeds from the issuance of common stock	$ 4,000,000	$ 3,500,000	$ 525,000			4,180,944	0
Common stock issuance costs	$ 500,000					$ 585,703	$ 0

Interim Financial Statements (A

Interim Financial Statements (Additional Information) (Details) - USD ($)	Jun. 28, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 28, 2015	Mar. 06, 2015
Line of Credit Facility [Line Items]
Mine claims and costs		$ 358,886	$ 327,352	$ 929,196	$ 1,041,580
Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, borrowing capacity							$ 5,000,000
Note Payable - Auramet Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, borrowing capacity		10,000,000		10,000,000		$ 10,000,000
Reclassification, Effect
Line of Credit Facility [Line Items]
Mine claims and costs		$ (364,092)		$ (1,071,226)
ATM Agreement | International Assets Advisory LLC
Line of Credit Facility [Line Items]
Aggregate offering price, up to	$ 5,000,000
Commission paid per share sold, up to (as a percent)	2.50%

Inventories, Stockpiles and M30

Inventories, Stockpiles and Mineralized Material on Leach Pads (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)oz	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 29, 2016	Dec. 31, 2015USD ($)
Inventory Disclosure [Abstract]
In-process	$ 88,973		$ 88,973			$ 249,130
Finished goods	0		0			201,821
Total inventories	88,973		88,973			450,951
Mineralized material on leach pads	340,274		340,274			1,322,211
Total Inventories, Stockpiles and Mineralized Material on Leach Pads	429,247		429,247			$ 1,773,162
Change in Accounting Estimate [Line Items]
Decrease to costs applicable to mining revenue	$ (829,558)	$ (3,450,311)	$ (3,507,795)	$ (10,388,054)
Estimated Recoverable Minerals on Leach Pad
Change in Accounting Estimate [Line Items]
Estimated recoverable gold minerals on leach pad (as a percent)	88.50%		88.50%		87.50%
Effect of change in estimate on recoverable gold minerals on leach pad (in ounces) | oz	318
Decrease to costs applicable to mining revenue	$ 500,000

Prepaid Expenses and Other Cu31

Prepaid Expenses and Other Current Assets (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Land and property deposits	$ 1,293,188	$ 1,169,285
Lease obligation deposits	1,251,847	231,000
Other	661,951	787,768
Total prepaid expenses and other current assets	$ 3,206,986	$ 2,188,053

Properties, Plant and Equipme32

Properties, Plant and Equipment (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Land and equipment sold, book value			$ 4,000,000
Gain on sale of properties, plant, and equipment			357,037	$ (77,579)
Depreciation expense	$ 1,100,000	$ 1,600,000	4,000,000	$ 4,800,000
Assets held-for-sale	$ 5,894,220		$ 5,894,220		$ 0

Long-Term Reclamation Liabili33

Long-Term Reclamation Liability and Retirement Obligation Asset (Reconciliation of Aggregate Retirement Liability) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Mine Reclamation and Closing Liability [Roll Forward]
Long-term reclamation liability — beginning of period	$ 6,827,568	$ 5,908,700
Additional obligations incurred	0	659,295
Accretion of reclamation liability	139,334	259,573
Long-term reclamation liability — end of period	$ 6,966,902	$ 6,827,568

Long-Term Reclamation Liabili34

Long-Term Reclamation Liability and Retirement Obligation Asset (Reconciliation of Aggregate Retirement Asset) (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Retirement obligation asset — beginning of period	$ 1,107,120	$ 1,619,101	$ 1,619,101
Additional obligations incurred	0	$ 659,295	659,295
Amortization of retirement obligation asset	(622,495)		(1,171,276)
Retirement obligation asset — end of period	$ 484,625		$ 1,107,120

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued Northern Comstock Joint Venture	$ 760,208	$ 150,833
Accrued Board of Directors fees	357,425	251,000
Accrued payroll	106,808	174,640
Accrued vendor liabilities	83,801	633,282
Accrued production royalties	47,119	120,332
Accrued personal property tax	41,436	115,907
Other accrued expenses	51,153	193,532
Total accrued expenses	$ 1,447,950	$ 1,639,526

Long-Term Debt and Capital Le36

Long-Term Debt and Capital Lease Obligations (Schedule of Long-Term Debt) (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015	May 12, 2015
Debt Instrument [Line Items]
Subtotal	$ 8,918,617	$ 13,297,549
Less current portion	(5,571,857)	(8,538,336)
Long-term portion of long-term debt and capital lease obligations	3,346,760	4,759,213
Note Payable - Silver Springs Property
Debt Instrument [Line Items]
Subtotal	3,290,624	0
Note Payable - Caterpillar Equipment Consolidated
Debt Instrument [Line Items]
Subtotal	1,575,743	0
Note Payable - Caterpillar Equipment
Debt Instrument [Line Items]
Subtotal	0	2,679,723
Capital Lease Obligation - Caterpillar Equipment
Debt Instrument [Line Items]
Subtotal	0	1,652,934
Finance Obligation - Varilease | Capital Lease Obligations
Debt Instrument [Line Items]
Subtotal	2,105,377	3,556,479	$ 5,000,000
Note Payable - V&T
Debt Instrument [Line Items]
Subtotal	348,203	750,000
Note Payable - Donovan Property
Debt Instrument [Line Items]
Subtotal	329,360	414,389
Note Payable - White House
Debt Instrument [Line Items]
Subtotal	276,884	281,139
Note Payable - Daney Ranch Property
Debt Instrument [Line Items]
Subtotal	299,954	1,139,834
Note Payable - Gold Hill Hotel
Debt Instrument [Line Items]
Subtotal	244,289	259,173
Note Payable - Dayton Property “Golden Goose”
Debt Instrument [Line Items]
Subtotal	111,305	489,212
Note Payable - Railroad & Gold Property
Debt Instrument [Line Items]
Subtotal	87,237	110,725
Capital Lease Obligation - Kimball | Capital Lease Obligations
Debt Instrument [Line Items]
Subtotal	38,134	104,522
Notes Payable - Other
Debt Instrument [Line Items]
Subtotal	211,507	259,419
Note Payable - Auramet Facility
Debt Instrument [Line Items]
Subtotal	$ 0	$ 1,600,000

Long-Term Debt and Capital Le37

Long-Term Debt and Capital Lease Obligations (Long-Term Debt Obligations) (Details)

Jul. 25, 2016USD ($)a

Jun. 27, 2016USD ($)

Jun. 08, 2016shares

Feb. 01, 2016shares

Aug. 31, 2015USD ($)shares

May 12, 2015USD ($)payment

Mar. 06, 2015USD ($)

Aug. 31, 2016USD ($)

Sep. 30, 2016USD ($)shares

Sep. 30, 2015USD ($)

Dec. 31, 2015USD ($)

Dec. 28, 2015USD ($)

Debt Instrument [Line Items]

Payments to acquire properties

$ 150,325

$ 4,861,914

Long-term debt and capital lease obligations

8,918,617

$ 13,297,549

Revolving Credit Facility

Debt Instrument [Line Items]

Revolving credit facility, borrowing capacity

$ 5,000,000

Amount outstanding on facility

5,000,000

Proceeds from lines of credit

4,400,000

Prepaid interest and fees

600,000

Covenant compliance, minimum required liquidity amount

$ 1,000,000

Covenant compliance, percentage of dore value included in liquidity amount

90.00%

Note Payable - Silver Springs Property

Debt Instrument [Line Items]

Area of land acquired (in acres) | a

98

Area of water rights acquired (in acres) | a

257

Payments to acquire properties

$ 3,200,000

Long term note

$ 3,300,000

Long-term debt term

2 years

Long-term debt and capital lease obligations

3,290,624

0

Caterpillar Equipment Facility and Capital Lease

Debt Instrument [Line Items]

Periodic installments amount

$ 25,000

Proceeds from sale of equipment

$ 2,100,000

Interest rate (as a percent)

5.70%

Note Payable - Auramet Facility

Debt Instrument [Line Items]

Long-term debt and capital lease obligations

0

1,600,000

Note Payable - Auramet Facility | Revolving Credit Facility

Debt Instrument [Line Items]

Revolving credit facility, borrowing capacity

10,000,000

$ 10,000,000

Note Payable - Daney Ranch Property

Debt Instrument [Line Items]

Long-term debt and capital lease obligations

299,954

1,139,834

Note Payable - Dayton Property “Golden Goose”

Debt Instrument [Line Items]

Long term note

500,000

Long-term debt and capital lease obligations

111,305

489,212

Finance Obligation - Varilease | Capital Lease Obligations

Debt Instrument [Line Items]

Shares of common stock issued to noteholder as payment on long-term debt | shares

6,617,896

Long-term debt and capital lease obligations

$ 5,000,000

$ 2,105,377

$ 3,556,479

Number of cash payments | payment

24

Monthly payment amount on sale-leaseback transaction

$ 247,830

Proceeds from sale leaseback

$ 5,000,000

Number of shares issued for extinguishment of debt unsold by debtor (in shares) | shares

2,898,796

Fair value of shares issued to Varilease but unsold

$ 1,000,000

Additional Land and Buildings

Debt Instrument [Line Items]

Long term note

$ 1,800,000

Additional Land and Buildings | Note Payable - Daney Ranch Property

Debt Instrument [Line Items]

Long term note

$ 1,800,000

Common Stock | Note Payable - Daney Ranch Property

Debt Instrument [Line Items]

Shares of common stock issued to noteholder as payment on long-term debt | shares

3,000,000

Common Stock | Note Payable - Dayton Property “Golden Goose”

Debt Instrument [Line Items]

Stock issued during period for purchase of assets (in shares) | shares

1,000,000

Shares of common stock issued to noteholder as payment on long-term debt | shares

1,000,000

Common Stock | Additional Land and Buildings

Debt Instrument [Line Items]

Stock issued during period for purchase of assets (in shares) | shares

4,538,462

Common Stock | Additional Land and Buildings | Note Payable - Daney Ranch Property

Debt Instrument [Line Items]

Stock issued during period for purchase of assets (in shares) | shares

1,538,462

First Year | Note Payable - Silver Springs Property

Debt Instrument [Line Items]

Interest rate (as a percent)

9.00%

Months 13 through 18 | Note Payable - Silver Springs Property

Debt Instrument [Line Items]

Interest rate (as a percent)

12.50%

Thereafter | Note Payable - Silver Springs Property

Debt Instrument [Line Items]

Interest rate (as a percent)

14.00%

Hard Rock Nevada Inc. | Note Payable - Silver Springs Property

Debt Instrument [Line Items]

Long term note

$ 200,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	Jun. 28, 2016	Apr. 13, 2016	Mar. 31, 2016	Apr. 30, 2016	Mar. 31, 2016	Sep. 30, 2016	Sep. 30, 2015
Class of Stock [Line Items]
Proceeds from the issuance of common stock		$ 4,000,000	$ 3,500,000	$ 525,000		$ 4,180,944	$ 0
Proceeds from issuance of common stock, net of issuance costs					$ 3,000,000
Common stock issued during period (in shares)		11,500,000	10,000,000	1,500,000
Price per share (in dollars per share)			$ 0.35	$ 0.35	$ 0.35
ATM Agreement
Class of Stock [Line Items]
Proceeds from the issuance of common stock						$ 151,797
Common stock issued during period (in shares)						417,500
Price per share (in dollars per share)						$ 0.37
ATM Agreement | International Assets Advisory LLC
Class of Stock [Line Items]
Aggregate offering price, up to	$ 5,000,000
Commission paid per share sold, up to (as a percent)	2.50%

Stockholders' Equity (Reconcili

Stockholders' Equity (Reconciliation of Transactions Under ATM Agreement) (Details) - USD ($)	Apr. 13, 2016	Mar. 31, 2016	Apr. 30, 2016	Sep. 30, 2016	Sep. 30, 2015
Class of Stock [Line Items]
Number of shares sold	11,500,000	10,000,000	1,500,000
Net proceeds	$ 4,000,000	$ 3,500,000	$ 525,000	$ 4,180,944	$ 0
Average price per share (in dollars per share)		$ 0.35	$ 0.35
ATM Agreement
Class of Stock [Line Items]
Number of shares sold				417,500
Gross proceeds				$ 155,944
Fees				4,147
Net proceeds				$ 151,797
Average price per share (in dollars per share)				$ 0.37

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Aug. 31, 2015	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Measurements, Recurring
Liabilities:
Total Liabilities		$ 411,259	$ 1,139,834
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1)
Liabilities:
Total Liabilities		0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Liabilities:
Total Liabilities		411,259	1,139,834
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Liabilities:
Total Liabilities		0	0
Additional Land and Buildings
Liabilities:
Long term note		$ 1,800,000
Common Stock | Additional Land and Buildings
Liabilities:
Stock issued during period for purchase of assets (in shares)		4,538,462
Note Payable (Daney Ranch Property) | Fair Value, Measurements, Recurring
Liabilities:
Note payable		$ 299,954	1,139,834
Note Payable (Daney Ranch Property) | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1)
Liabilities:
Note payable		0	0
Note Payable (Daney Ranch Property) | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Liabilities:
Note payable		299,954	1,139,834
Note Payable (Daney Ranch Property) | Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Liabilities:
Note payable		0	$ 0
Note Payable (Daney Ranch Property) | Additional Land and Buildings
Liabilities:
Long term note	$ 1,800,000
Note Payable (Daney Ranch Property) | Common Stock | Additional Land and Buildings
Liabilities:
Stock issued during period for purchase of assets (in shares)	1,538,462
Note Payable (Golden Goose Property)
Liabilities:
Long term note		500,000
Note Payable (Golden Goose Property) | Fair Value, Measurements, Recurring
Liabilities:
Note payable		111,305
Note Payable (Golden Goose Property) | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1)
Liabilities:
Note payable		0
Note Payable (Golden Goose Property) | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Liabilities:
Note payable		111,305
Note Payable (Golden Goose Property) | Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Liabilities:
Note payable		$ 0
Note Payable (Golden Goose Property) | Common Stock
Liabilities:
Stock issued during period for purchase of assets (in shares)		1,000,000

Net Income (Loss) Per Common 41

Net Income (Loss) Per Common Share (Reconciliation of Net Loss Per Share) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Numerator:
Net income (loss)	$ (2,193,201)	$ (4,307,358)	$ (9,099,380)	$ (4,527,690)
Preferred stock dividends	0	(3,644,888)	0	(5,452,445)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$ (2,193,201)	$ (7,952,246)	$ (9,099,380)	$ (9,980,135)
Denominator:
Basic weighted average shares outstanding	182,134,873	112,133,768	174,173,436	94,036,959
Effect of dilutive securities (in shares)	0	0	0	0
Diluted weighted average shares outstanding	182,134,873	112,133,768	174,173,436	94,036,959
Net income (loss) per common share:
Basic (in dollars per share)	$ (0.01)	$ (0.07)	$ (0.05)	$ (0.11)
Diluted (in dollars per share)	$ (0.01)	$ (0.07)	$ (0.05)	$ (0.11)

Net Income (Loss) Per Common 42

Net Income (Loss) Per Common Share (Schedule of Excluded Common Stock Equivalent Shares) (Details) - shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,470,000	1,738,000
Stock options and warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	50,000	50,000
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,420,000	1,688,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 28, 2016	Sep. 30, 2016
Loss Contingencies [Line Items]
Percentage of royalty obligations		3.00%
Number of shares to be issued in exchange for services, up to	9,000,000
Value of services exchanged for shares	$ 5
Holding period of shares issued in exchange for services	6 months
Minimum
Loss Contingencies [Line Items]
Percentage of royalty obligations		0.50%
Share price (in dollars per share) (at least)	$ 0.56
Maximum
Loss Contingencies [Line Items]
Percentage of royalty obligations		5.00%
American Mining & Tunneling, LLC and American Drilling Corp, LLC
Loss Contingencies [Line Items]
Number of shares issued in exchange for services		0

Segment Reporting (Details)

Segment Reporting (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			2
Segment Reporting Information [Line Items]
Revenue	$ 1,134,795	$ 4,345,073	$ 4,646,592	$ 15,870,782
Cost and Expenses	(2,802,241)	(8,314,731)	(12,412,023)	(22,694,033)
LOSS FROM OPERATIONS	(1,667,446)	(3,969,658)	(7,765,431)	(6,823,251)
Other income (expense), net	(525,755)	(337,700)	(1,333,949)	2,295,561
NET INCOME (LOSS)	(2,193,201)	(4,307,358)	(9,099,380)	(4,527,690)
Depreciation, Depletion and Amortization	1,288,336	1,953,425	4,643,513	5,789,517
Capital Expenditures	3,200,000	3,893,218	5,796,103	7,559,504
Assets	36,241,637		36,241,637		$ 43,212,891
Mining
Segment Reporting Information [Line Items]
Revenue	1,106,196	4,301,169	4,544,951	15,670,371
Cost and Expenses	(2,770,874)	(8,272,182)	(12,235,903)	(22,390,190)
LOSS FROM OPERATIONS	(1,664,678)	(3,971,013)	(7,690,952)	(6,719,819)
Depreciation, Depletion and Amortization	1,268,352	1,921,305	4,509,065	5,701,880
Capital Expenditures	0	3,893,218	334,840	7,544,841
Assets	30,234,178		30,234,178		41,886,124
Real Estate
Segment Reporting Information [Line Items]
Revenue	28,599	43,904	101,641	200,411
Cost and Expenses	(31,367)	(42,549)	(176,120)	(303,843)
LOSS FROM OPERATIONS	(2,768)	1,355	(74,479)	(103,432)
Depreciation, Depletion and Amortization	19,984	32,120	134,448	87,637
Capital Expenditures	3,200,000	$ 0	5,461,263	$ 14,663
Assets	$ 6,007,459		$ 6,007,459		$ 1,326,767