| Document and Entity Information | 9 Months Ended |
| Jan. 31, 2016USD ($)shares | |
| Document And Entity Information | |
| Entity Registrant Name | RAZOR RESOURCES INC |
| Entity Central Index Key | 1,333,614 |
| Document Type | 10-Q |
| Document Period End Date | Jan. 31, 2016 |
| Amendment Flag | false |
| Current Fiscal Year End Date | --04-30 |
| Is Entity a Well-known Seasoned Issuer? | No |
| Is Entity a Voluntary Filer? | No |
| Is Entity's Reporting Status Current? | No |
| Entity Filer Category | Smaller Reporting Company |
| Entity Public Float | $ | $ 73,805,000 |
| Entity Common Stock, Shares Outstanding | shares | 101,305,000 |
| Document Fiscal Period Focus | Q3 |
| Document Fiscal Year Focus | 2,015 |
| Balance Sheets - USD ($) | Jan. 31, 2016 | Apr. 30, 2015 |
| Current | ||
| Cash | ||
| Investment | ||
| Total Current Assets | ||
| TOTAL ASSETS | $ 0 | $ 0 |
| Current Liabilities | ||
| Accounts payable and accrued | 8,917 | 1,901 |
| TOTAL CURRENT LIABILITIES | 8,917 | 1,901 |
| Long Term Liability | ||
| Loan from Catalyst Capital | 434,222 | 428,158 |
| Loan from Shareholder and Director | 441,206 | 441,206 |
| TOTAL LIABILITIES | 884,345 | 871,265 |
| Stockholders' Equity (Deficit) | ||
| Common Stock Authorized: 1,050,000,000 common shares at $0.01 par value, 7,500,000 preferred shares at $0.001 par value, Issued and fully paid 101,305,000 common shares at $0.001 par value | 40,637 | 40,637 |
| Additional paid in capital | 518,084 | 518,084 |
| Deficit accumulated during the development stage | (1,443,066) | (1,429,985) |
| TOTAL STOCKHOLDERS' EQUITY (DEFICIT) | $ (884,345) | $ (871,265) |
| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT |
| Balance Sheets (Parenthetical) - $ / shares | Jan. 31, 2016 | Apr. 30, 2015 |
| Stockholder's Equity (Deficit) | ||
| Common Stock Par value | $ 0.001 | $ 0.001 |
| Common Stock Authorized | 1,050,000,000 | 1,050,000,000 |
| Common Stock Issued | 101,305,000 | 101,305,000 |
| Preferred Stock Par Value | $ 0.001 | $ 0.001 |
| Preferreed Stock Authorized | 7,500,000 | 7,500,000 |
| Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
| Jan. 31, 2016 | Jan. 31, 2015 | Jan. 31, 2016 | Jan. 31, 2015 | |
| Renvenues | ||||
| Consulting Income | $ 0 | $ 0 | $ 0 | $ 0 |
| Other Income | $ 0 | 0 | 0 | 0 |
| General and Administrative Expenses | ||||
| Professional Fees | $ 2,883 | 12,290 | $ 4,283 | |
| Legal Expenses | $ 450 | 450 | ||
| Filing Fees | 340 | |||
| Total General and Administrative Expenses | $ 450 | $ 2,883 | 13,080 | $ 4,283 |
| Other Income | ||||
| Net Income for the Period | $ (450) | $ (2,883) | $ (13,080) | $ (4,283) |
| Net Loss Per Share | ||||
| Basic and Diluted Loss per Share | ||||
| Weighted Average Number of Shares Outstanding | 101,305,000 | 101,305,000 | 101,305,000 | 101,305,000 |
| Statements of Cash Flows - USD ($) | 9 Months Ended | |
| Jan. 31, 2016 | Jan. 31, 2015 | |
| Cash Provided by (Used for) Operating Activities | ||
| Net income for the period | $ (13,080) | $ (4,283) |
| Prior Period Adjustment | ||
| Accounts payable and Accrued liabilities | $ 7,016 | $ 4,283 |
| Changes in non-cash working capital items | ||
| Amortization | ||
| Net Cash Provided By (Used In) Operating Activities | $ (6,064) | $ 0 |
| Financing Activities | ||
| (Repayments) Advances to/from Related Party | ||
| Loan from Catalyst | $ 6,064 | |
| Loan from Shareholder | ||
| Cash provided by financing activities | $ 6,064 | |
| Cash (decrease) increase during the year | 0 | $ 0 |
| Cash , Beginning of year | 0 | 0 |
| Cash, End of year | $ 0 | $ 0 |
| BUSINESS OPERATIONS | 9 Months Ended |
| Jan. 31, 2016 | |
| Accounting Policies [Abstract] | |
| BUSINESS OPERATIONS | 1. BUSINESS OPERATIONS You Han Data Tech Company Ltd. (the Company) was incorporated on February 23, 2001 under the Company Act of the State of Nevada, U.S.A., to pursue mineral exploration. The inception date is February 15, 2002 and the fiscal year end of the Company is April 30. On February 9, 2010, the Company entered into a share exchange agreement with Compania Minera Cerros Del Sur, S.A. (Compania Minera), a Honduran corporation, and a shareholder of Compania Minera. The closing of the transactions contemplated in the share exchange agreement and the acquisition of 99% of the issued and outstanding common stock in the capital of Compania Minera occurred on February 9, 2010. In accordance with the closing of the share exchange agreement, the Company issued 35,500,000 shares of its common stock to a former stockholder of Compania Minera in exchange for the acquisition, by the Company, of 99% of the issued and outstanding shares of Compania Minera. Also, pursuant to the terms of the share exchange agreement, certain stockholders of the Company cancelled 34,000,000 restricted shares of the Companys common stock. Compania Minera was organized on October 2, 1975 and recorded in the Honduran commerce register under number 1091-275, as a variable equity Limited Liability Company for an undefined period of time, in accordance with Honduran law. On August 12, 2004, Compania Minera became into a variable equity Joint-Stock company and recorded in the Honduran commerce register under number 98-566. Compania Minera is based in Tegucigalpa and its major activity is the mining prospecting, exploring, exploding and commercialization and other related commercial activities. You Han Data Tech Company Ltd. (the Company) has received notification that the Company is in default of its Amended Stock Exchange Agreement (the Agreement) dated November 26, 2010 between the Company, Compania Minera Cerros Del Sur S.A. (Cerros) and Mayan Gold, Inc. (Mayan). The Company was not successful in its efforts to raise the necessary funds as stipulated in the Agreement and therefore the Company is technically in default with Cerros and Mayan. In the event of a termination of the Agreement, the Company will effectively lose the majority of its ownership of the Clavo Rico mine which is the only asset of the Company. The Company is currently in discussions with Mayan and Cerros to renegotiate this matter. There can be no assurances the Company will be successful in retaining its ownership of the asset. On March 4, 2016, the Company changes its name from Razor Resources, Inc. to You Han Data Tech Company Ltd. Going Concern These financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America applicable to a going concern which assume that the Company will realize its assets and discharge its liabilities in the normal course of business. The Company has incurred losses since inception of $1,443,066 to January 31, 2016. This factor creates doubt as to the ability of the Company to continue as a going concern. Realization values may be substantially different from the carrying values as shown in these financial statements should the Company be unable to continue as a going concern. Management is in the process of identifying sources for additional financing for working capital and to fund the ongoing development of the Company's business, and management proposes to develop plans to continue the business as a going concern. The sole officer and director are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts. |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
| Jan. 31, 2016 | |
| Accounting Policies [Abstract] | |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Presentation The accompanying consolidated financial statements for You Han Data Tech Company Ltd. have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP). (b) Use of Estimates The preparation of financial statements in conformity with US 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 dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include the carrying amount of property, plant and equipment, valuation allowances for receivables and deferred income tax assets and reclamation of mine. Actual results could differ from those estimates. (c) Bank Indebtedness Bank indebtedness consists of overdraft with the Companys Banker. (e) Income Taxes Provisions for income taxes are based on taxes payable or refundable for the current year and deferred taxes arising on tax losses and temporary differences between the tax bases of assets and liabilities and their reported amounts in the financial statements. Deferred tax assets and liabilities are included in the financial statement at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled as prescribed in Accounting Standards Codification (ASC) No. 740, Income Taxes (d) Loss per Share The Company follows ASC No. 260, Earnings per Share (e) Foreign Currency Translation The Companys functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated in accordance with ASC No. 830 Foreign Currency Matters, using the exchange rate prevailing at the balance sheet date. Gains and losses arising on settlement of foreign currency denominated transactions or balances are included in the determination of income. The Company has not to the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. The Company translates its foreign operations assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations are recorded in the cumulative translation account, a component of accumulated other comprehensive income. Gains or losses from foreign currency transactions are included in other expense (income), net. (f) Comprehensive Income Comprehensive income reflects changes in equity that results from transactions and economic events from non-owner sources. (g) Disclosure about fair value of financial instruments The Company follow paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification (Paragraph 820-10-35-37) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that require the use of fair value measurements, establishes a framework for measuring fair value, and expands disclosure about such fair value measurements. The adoption of Paragraph 820-10-35-37 did not have an impact on the Companys financial position or operating results, but did expand certain disclosures. Paragraph 820-10-35-37 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, Paragraph 820-10-35-37 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entitys own assumptions The Company has financial instruments, none of which are held for trading purposes. The Company estimates that the fair value of financial instruments at April 30, 2015 such as cash on hand, accounts receivable, accounts payable and accrued liabilities, accounts payable to related companies and other accounts payable does not differ materially from the aggregate carrying values of its financial instruments recorded in the accompanying balance sheet because of the short-term maturity of these instruments. The fair value of the loan from director cannot be determined because it is non-interest bearing and the absence of market data. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. Considerable judgment is required in interpreting market data to develop the estimates of fair value, and accordingly, the estimates are not necessarily indicative of the amounts that the Company could realize in a current market exchange. (h) Concentration of credit risk Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash on hand and accounts receivable which are not collateralized. The Company limits its exposure to credit loss by placing its cash and cash equivalents with high credit quality financial institutions and by performing regular credit assessments of its customers and providing allowances for uncollectible accounts receivable based on the credit risk applicable to particular customer. (j) Inventory Inventory is recorded at the lower of cost or net realizable value. Cost is determined under the weighted average cost method. Net realizable value is the estimated selling price in the ordinary course of business less estimated costs of completion and estimated selling costs. Cost of inventories includes precious metals, materials and supplies. Inventories are written down to net realizable value when the cost of inventories is not estimated to be recoverable. (k) Property, plant and equipment Property includes land and mineral property (see Mineral property acquisition costs and deferred exploration expenditures). Plant and equipment is recorded at cost less accumulated depreciation and is comprised of mining-machinery, vehicles, office equipment and furniture, leasehold and website cost. Office furniture and equipment are amortized at 10%, and website costs are amortized at 30%. All other equipment is being amortized on a straight line basis over 5 to 20 years. (l) Mineral property acquisition costs and deferred exploration expenditures Mineral property acquisition costs are initially capitalized. Exploration costs and mine development costs to be incurred, including those to be incurred in advance of commercial production and those incurred to expand capacity of proposed mines, are expensed as incurred while the Company is in the exploration stage. Mine development costs to be incurred to maintain production will be expensed as incurred. Depletion and amortization expense related to capitalized mineral properties and mine development costs will be computed using the units-of-production method based on proved and probable reserves. a. US GAAP requires that whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, the entity shall estimate the future cash flows expected to result from the use of the asset and its eventual disposition. If the sum of the discounted future cash flows is less than the carrying amount of the asset, an impairment loss (difference between the carrying amount and fair value) should be recognized as a component of income from continuing operations before income taxes. b. Where properties are disposed of, the sale proceeds are, firstly, applied as a recovery of mineral property acquisition costs, and secondly, as a gain or loss recorded in current operations. (m) Asset retirement obligations ASC No, 410, Accounting for Asset Retirement Obligations addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated asset retirement costs. Specifically, ASC No. 410 requires that the fair value of a liability for an asset retirement obligation be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. In addition, the asset retirement cost is capitalized as part of the assets carrying value and subsequently allocated to expense over the assets useful life. (n) Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification ("ASC") No. 605, Revenue Recognition Revenue is recognized on the sale and delivery of precious metals and transfer of title to the customers or the completion of a service provided and when collection is reasonably assumed. (o) Impairment ASC No. 360, Property, plant and equipment, requires that long-lived assets to be held and used be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Determination of recoverability is based on the Company's judgment and estimates of undiscounted future cash flows resulting from the use of the assets and their eventual disposition. Measurement of an impairment loss for long-lived assets that management expects to hold and use is based on the fair value of the assets. The carrying values of assets determined to be impaired are reduced to their estimated fair values. Fair values of any impaired assets would generally be determined using a market or income approach. (p) Recent accounting pronouncements Impact of New Accounting Standards The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company's results of operations, financial position, or cash flow. |
| PROPERTY, PLANT AND EQUIPMENT | 9 Months Ended |
| Jan. 31, 2016 | |
| Property, Plant and Equipment [Abstract] | |
| PROPERTY, PLANT AND EQUIPMENT | NOTE 3. PROPERTY, PLANT AND EQUIPMENT January 31, January 31, 2016 2015 Buildings $ -0- $ 0 Mining-machinery and equipment -0- 0 Vehicles -0- 0 Office equipment and furniture -0- 0 Concessions -0- 0 -0- 0 Less: Accumulated depreciation -0- 0 -0- 0 Land -0- Net property, Plant and Equipment $ -0- $ 0 |
| CAPITAL STOCK | 9 Months Ended |
| Jan. 31, 2016 | |
| Equity [Abstract] | |
| CAPITAL STOCK | NOTE 4. CAPITAL STOCK a) Stock and Option Compensation Plan On April 19, 2010, the Company approved a stock and option compensation plan (2010 Stock Plan) for its directors, officers, employees and consultants. Pursuant to which the Company is authorized to issue options to acquire up to 8,000,000 shares of the Companys common stock. There were no stock options issued as at January 31, 2016. b) Issued and Outstanding During the year ended April 30, 2008, the Companys Board of Directors approved a 15 for one (1) forward stock split of our authorized, issued and outstanding shares of capital stock. The authorized capital increased from 70,000,000 shares of common stock with a par value of $0.001 to 1,050,000,000 shares of common stock with a par value of $0.001 and 75,000,000 shares of preferred stock with a par value of $0.001. As a result, the issued and outstanding of common stock as at April 30, 2008 increased from 5,137,000 to 77,055,000. During the year ended April 30, 2009, the Company issued 250,000 common stock and cancelled 12,500,000 common stock from treasury. As a result, the issued and outstanding of common stock as at April 30, 2009 decreased from 77,055,000 to 64,805,000. i) Acquisition of Compania Minera Cerros Del Sur, S.A. On February 9, 2010, the Company acquired 99% of the outstanding shares of Compania Minera Cerros Del Sur, S.A. in consideration for 35,500,000 common stock at par of $0.01 per share pursuant to the terms of the share exchange agreement. ii) Private Placement During the year ended April 30, 2010, the Company closed a non-brokered private placement for 1,000,000 common shares at $0.50 per share for gross proceeds of $500,000. On June 25, 2015, the Company amended its Articles of Incorporation to increase the number of authorized capital shares to an aggregate of Ten Billion (10,000,000,000) shares, of which Nine Billion, Nine Hundred Million (9,900,000,000) were designated as Common Stock, par value $0.00001 per share, Ten Million (10,000,000) were designated as Series A Preferred Stock, par value $0.0001 per share and Ninety Million (90,000,000) were designated as Series A Preferred Stock, par value $0.0001 per share. On March 5, 2015, the Company amended its Articles of Incorporation to reduce the number of authorized capital shares to an aggregate to Two Hundred Million (200,000,000) shares, of which One Hundred and Ninety Five Million (195,000,000) were designated as Common Stock, par value $0.001 per share, and Five Million (5,000,000) were designated as Preferred Stock, par value $0.001 per share. On March 4, 2016, the Company effectuate a one-for-five hundred reverse stock split and pursuant to this corporate action, 212,610 shares of the Companys Common Stock are outstanding. |
| LOAN FROM STOCKHOLDERS AND RELATED PARTY TRANSACTIONS | 9 Months Ended |
| Jan. 31, 2016 | |
| Related Party Transactions [Abstract] | |
| LOAN FROM STOCKHOLDERS AND RELATED PARTY TRANSACTIONS | NOTE 5. LOAN FROM STOCKHOLDERS AND RELATED PARTY TRANSACTIONS As at April 30, 2009, a stockholder has loaned the Company $22,550 without interest and fixed term of repayment. The loan was paid off in the year ended April 30, 2010. A director has loaned the Company $442,463 (2010: $246,299) without interest and fixed term of repayment. The loan is unsecured. Balance of loans from related party as of January 31, 201 6 was $ 133,277. |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
| Jan. 31, 2016 | |
| Accounting Policies [Abstract] | |
| Basis of Presentation | (a) Basis of Presentation The accompanying consolidated financial statements for You Han Data Tech Company Ltd. have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP). |
| (b) Use of Estimates | (b) Use of Estimates The preparation of financial statements in conformity with US 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 dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include the carrying amount of property, plant and equipment, valuation allowances for receivables and deferred income tax assets and reclamation of mine. Actual results could differ from those estimates. |
| (c) Bank Indebtedness | (c) Bank Indebtedness |
| Income Taxes | Bank indebtedness consists of overdraft with the Companys Banker. (e) Income Taxes Provisions for income taxes are based on taxes payable or refundable for the current year and deferred taxes arising on tax losses and temporary differences between the tax bases of assets and liabilities and their reported amounts in the financial statements. Deferred tax assets and liabilities are included in the financial statement at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled as prescribed in Accounting Standards Codification (ASC) No. 740, Income Taxes |
| (d) Loss per Share | (d) Loss per Share The Company follows ASC No. 260, Earnings per Share |
| (e) Foreign Currency Translation | (e) Foreign Currency Translation The Companys functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated in accordance with ASC No. 830 Foreign Currency Matters, using the exchange rate prevailing at the balance sheet date. Gains and losses arising on settlement of foreign currency denominated transactions or balances are included in the determination of income. The Company has not to the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. The Company translates its foreign operations assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations are recorded in the cumulative translation account, a component of accumulated other comprehensive income. Gains or losses from foreign currency transactions are included in other expense (income), net. |
| (f) Comprehensive Income | (f) Comprehensive Income Comprehensive income reflects changes in equity that results from transactions and economic events from non-owner sources. |
| (g) Disclosure about fair value of financial instruments | (g) Disclosure about fair value of financial instruments The Company follow paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification (Paragraph 820-10-35-37) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that require the use of fair value measurements, establishes a framework for measuring fair value, and expands disclosure about such fair value measurements. The adoption of Paragraph 820-10-35-37 did not have an impact on the Companys financial position or operating results, but did expand certain disclosures. Paragraph 820-10-35-37 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, Paragraph 820-10-35-37 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entitys own assumptions The Company has financial instruments, none of which are held for trading purposes. The Company estimates that the fair value of financial instruments at April 30, 2015 such as cash on hand, accounts receivable, accounts payable and accrued liabilities, accounts payable to related companies and other accounts payable does not differ materially from the aggregate carrying values of its financial instruments recorded in the accompanying balance sheet because of the short-term maturity of these instruments. The fair value of the loan from director cannot be determined because it is non-interest bearing and the absence of market data. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. Considerable judgment is required in interpreting market data to develop the estimates of fair value, and accordingly, the estimates are not necessarily indicative of the amounts that the Company could realize in a current market exchange. |
| (h) Concentration of credit risk | (h) Concentration of credit risk Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash on hand and accounts receivable which are not collateralized. The Company limits its exposure to credit loss by placing its cash and cash equivalents with high credit quality financial institutions and by performing regular credit assessments of its customers and providing allowances for uncollectible accounts receivable based on the credit risk applicable to particular customer. |
| (j) Inventory | (j) Inventory Inventory is recorded at the lower of cost or net realizable value. Cost is determined under the weighted average cost method. Net realizable value is the estimated selling price in the ordinary course of business less estimated costs of completion and estimated selling costs. Cost of inventories includes precious metals, materials and supplies. Inventories are written down to net realizable value when the cost of inventories is not estimated to be recoverable. |
| (k) Property, plant and equipment | (k) Property, plant and equipment Property includes land and mineral property (see Mineral property acquisition costs and deferred exploration expenditures). Plant and equipment is recorded at cost less accumulated depreciation and is comprised of mining-machinery, vehicles, office equipment and furniture, leasehold and website cost. Office furniture and equipment are amortized at 10%, and website costs are amortized at 30%. All other equipment is being amortized on a straight line basis over 5 to 20 years. |
| Mineral property acquisition costs and deferred exploration expenditures | (l) Mineral property acquisition costs and deferred exploration expenditures Mineral property acquisition costs are initially capitalized. Exploration costs and mine development costs to be incurred, including those to be incurred in advance of commercial production and those incurred to expand capacity of proposed mines, are expensed as incurred while the Company is in the exploration stage. Mine development costs to be incurred to maintain production will be expensed as incurred. Depletion and amortization expense related to capitalized mineral properties and mine development costs will be computed using the units-of-production method based on proved and probable reserves. a. US GAAP requires that whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, the entity shall estimate the future cash flows expected to result from the use of the asset and its eventual disposition. If the sum of the discounted future cash flows is less than the carrying amount of the asset, an impairment loss (difference between the carrying amount and fair value) should be recognized as a component of income from continuing operations before income taxes. b. Where properties are disposed of, the sale proceeds are, firstly, applied as a recovery of mineral property acquisition costs, and secondly, as a gain or loss recorded in current operations. |
| (m) Asset retirement obligations | (m) Asset retirement obligations ASC No, 410, Accounting for Asset Retirement Obligations addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated asset retirement costs. Specifically, ASC No. 410 requires that the fair value of a liability for an asset retirement obligation be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. In addition, the asset retirement cost is capitalized as part of the assets carrying value and subsequently allocated to expense over the assets useful life. |
| (n) Revenue Recognition | (n) Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification ("ASC") No. 605, Revenue Recognition Revenue is recognized on the sale and delivery of precious metals and transfer of title to the customers or the completion of a service provided and when collection is reasonably assumed. |
| (o) Impairment | (o) Impairment ASC No. 360, Property, plant and equipment, requires that long-lived assets to be held and used be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Determination of recoverability is based on the Company's judgment and estimates of undiscounted future cash flows resulting from the use of the assets and their eventual disposition. Measurement of an impairment loss for long-lived assets that management expects to hold and use is based on the fair value of the assets. The carrying values of assets determined to be impaired are reduced to their estimated fair values. Fair values of any impaired assets would generally be determined using a market or income approach. |
| (p) Recent accounting pronouncements | (p) Recent accounting pronouncements Impact of New Accounting Standards The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company's results of operations, financial position, or cash flow. |
