Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Apr. 14, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Entity Registrant Name | 'Tara Minerals Corp. | ' | ' |
Entity Central Index Key | '0001387054 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 81,082,278 | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Public Float | ' | ' | $6,625,858 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Current assets: | ' | ' |
Cash | $76,758 | $906,663 |
Other receivables, net | 73,106 | 259,548 |
Deferred tax asset, current portion | ' | 3,323,000 |
Prepaid assets | 114,425 | 54,020 |
Assets held for disposal, net | 29,262 | 29,262 |
Other current assets | 21,684 | ' |
Total current assets | 315,235 | 4,572,493 |
Property, plant, equipment, mine development, land and construction in progress, net | 7,344,419 | 7,500,772 |
Mining deposits | ' | 27,044 |
Deferred tax asset, non-current portion | ' | 2,961,000 |
Other assets | ' | 24,581 |
Total assets | 7,659,654 | 15,085,890 |
Current liabilities: | ' | ' |
Accounts payable and accrued expenses | 1,410,281 | 2,560,579 |
Notes payable, current portion | 38,614 | 964,288 |
Convertible notes payable, net | 75,652 | ' |
Due to related parties, net of due from | 1,517,615 | 771,382 |
Total current liabilities | 3,042,162 | 4,296,249 |
Notes payable, non-current portion | 28,005 | 721,531 |
Total liabilities | 3,070,167 | 5,017,780 |
Iron Ore Properties financial instrument, net | ' | 600,000 |
Stockholders' equity: | ' | ' |
Common stock: $0.001 par value; authorized 200,000,000 shares; issued and outstanding 81,082,278 and 68,752,278 shares | 81,082 | 68,752 |
Additional paid-in capital | 37,191,859 | 33,577,244 |
Common stock payable | 47,466 | 50,400 |
Accumulated deficit during exploration stage | -35,757,123 | -27,282,680 |
Accumulated other comprehensive loss | -167,584 | -187,146 |
Total Tara Minerals stockholders' equity | 1,395,700 | 6,226,570 |
Non-controlling interest | 3,193,787 | 3,241,540 |
Total stockholders' equity | 4,589,487 | 9,468,110 |
Total liabilities and stockholders' equity | $7,659,654 | $15,085,890 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
CONSOLIDATED BALANCE SHEETS [Abstract] | ' | ' |
Common stock, par value per share | $0.00 | $0.00 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 81,082,278 | 68,752,278 |
Common stock, shares outstanding | 81,082,278 | 68,752,278 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $) | 12 Months Ended | 92 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS [Abstract] | ' | ' | ' |
Mining revenues | ' | ' | $160,421 |
Cost of revenue | ' | ' | 658,007 |
Gross margin | ' | ' | -497,586 |
Exploration expenses | 1,734,394 | 1,441,142 | 8,548,271 |
Operating, general, and administrative expenses | 2,689,898 | 4,384,687 | 31,670,447 |
Net operating loss | -4,424,292 | -5,825,829 | -40,716,304 |
Non-operating income (expense): | ' | ' | ' |
Interest income | 51,432 | 31,896 | 245,417 |
Interest expense | -254,004 | -15,906 | -2,338,371 |
Loss on debt due to extinguishment and conversion | -7,000 | ' | -783,952 |
Loss on disposal or sale of assets | -1,458 | -1,883 | -31,531 |
Gain on dissolution of joint venture | ' | ' | 100,000 |
Settlement loss, net | -1,064,996 | ' | -1,814,996 |
Gain on bargain acquisition of ACM | 3,489,971 | ' | 3,489,971 |
Impairment of long lived assets | -28,001 | ' | -28,001 |
Other income | 152 | 1,500 | 1,527,427 |
Total non-operating (income) loss | 2,186,096 | 15,607 | 365,964 |
Loss before income taxes | -2,238,196 | -5,810,222 | -40,350,340 |
Income tax (provision) benefit | -6,284,000 | 727,000 | 959,000 |
Loss from continuing operations | -8,522,196 | -5,083,222 | -39,391,340 |
Discontinued operations: | ' | ' | ' |
Gain from discontinued operations, net of tax | ' | 3,618,402 | 3,618,402 |
Net loss | -8,522,196 | -1,464,820 | -35,772,938 |
Net (income) loss attributable to non-controlling interest | 47,753 | -484,407 | 15,815 |
Net loss attributable to Tara Minerals' shareholders | -8,474,443 | -1,949,227 | -35,757,123 |
Other comprehensive gain (loss): | ' | ' | ' |
Foreign currency translation gain (loss) | 19,562 | 22,071 | -167,584 |
Total comprehensive loss | ($8,454,881) | ($1,927,156) | ($35,924,707) |
Net loss per share, basic and diluted | ($0.11) | ($0.02) | ' |
Weighted average number of shares, basic and diluted | 74,632,059 | 67,928,223 | ' |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) | Total | Common Stock [Member] | Additional Paid In Capital [Member] | Common Stock Payable (Receivable) [Member] | Accumulated Deficit During Exploration Stage[Member] | Accumulated Other Comprehensive Income [Member] |
Balance at May. 11, 2006 | ' | ' | ' | ' | ' | ' |
Balance, shares at May. 11, 2006 | ' | ' | ' | ' | ' | ' |
Founders shares, issued October 31, 2006 | ' | 30,000 | -30,000 | ' | ' | ' |
Founders shares, issued October 31, 2006, shares | ' | 30,000,000 | ' | ' | ' | ' |
Net loss attributable to Tara Minerals' shareholders | ' | ' | ' | ' | ' | ' |
Balance at Oct. 31, 2006 | ' | 30,000 | -30,000 | ' | ' | ' |
Balance, shares at Oct. 31, 2006 | ' | 30,000,000 | ' | ' | ' | ' |
Common stock sold for cash | 2,540,500 | 5,081 | 2,535,419 | ' | ' | ' |
Common stock sold for cash, shares | ' | 5,081,000 | ' | ' | ' | ' |
Common stock issued for services | 750,000 | 1,500 | 748,500 | ' | ' | ' |
Common stock issued for services, shares | ' | 1,500,000 | ' | ' | ' | ' |
Options for officer compensation and vested options | 1,164,173 | ' | 1,164,173 | ' | ' | ' |
Foreign currency translation gain/(loss) | 11,374 | ' | ' | ' | ' | 11,374 |
Net loss attributable to Tara Minerals' shareholders | -2,220,782 | ' | ' | ' | -2,220,782 | ' |
Balance at Oct. 31, 2007 | 2,245,265 | 36,581 | 4,418,092 | ' | -2,220,782 | 11,374 |
Balance, shares at Oct. 31, 2007 | ' | 36,581,000 | ' | ' | ' | ' |
Common stock sold for cash | 641,500 | 1,069 | 640,431 | ' | ' | ' |
Common stock sold for cash, shares | ' | 1,069,167 | ' | ' | ' | ' |
Common stock issued for equipment | 600,000 | 1,200 | 598,800 | ' | ' | ' |
Common stock issued for equipment, shares | ' | 1,200,000 | ' | ' | ' | ' |
Cancelled shares | -750,000 | -1,500 | -748,500 | ' | ' | ' |
Cancelled shares, shares | ' | 1,500,000 | ' | ' | ' | ' |
Common stock subscribed | 88,000 | ' | ' | 88,000 | ' | ' |
Common stock subscribed, shares | ' | ' | ' | ' | ' | ' |
Foreign currency translation gain/(loss) | -184,255 | ' | ' | ' | ' | -184,255 |
Net loss attributable to Tara Minerals' shareholders | 212,301 | ' | ' | ' | 212,301 | ' |
Balance at Oct. 31, 2008 | 2,852,811 | 37,350 | 4,908,823 | 88,000 | -2,008,481 | -172,881 |
Balance, shares at Oct. 31, 2008 | ' | 37,350,167 | ' | ' | ' | ' |
Common stock sold for cash | 44,000 | 325 | 64,675 | -21,000 | ' | ' |
Common stock sold for cash, shares | ' | 325,000 | ' | ' | ' | ' |
Common stock subscribed | ' | 235 | 66,765 | -67,000 | ' | ' |
Common stock subscribed, shares | ' | 235,000 | ' | ' | ' | ' |
Foreign currency translation gain/(loss) | -68,036 | ' | ' | ' | ' | -68,036 |
Net loss attributable to Tara Minerals' shareholders | -81,766 | ' | ' | ' | -81,766 | ' |
Balance at Dec. 31, 2008 | 2,747,009 | 37,910 | 5,040,263 | ' | -2,090,247 | -240,917 |
Balance, shares at Dec. 31, 2008 | ' | 37,910,167 | ' | ' | ' | ' |
Common stock sold for cash | 1,060,001 | 2,987 | 1,057,014 | ' | ' | ' |
Common stock sold for cash, shares | ' | 2,986,667 | ' | ' | ' | ' |
Common stock issued for services | 224,475 | 580 | 223,895 | ' | ' | ' |
Common stock issued for services, shares | ' | 579,894 | ' | ' | ' | ' |
Common stock issued for compensation | 129,500 | 809 | 128,691 | ' | ' | ' |
Common stock issued for compensation, shares | ' | 808,924 | ' | ' | ' | ' |
Loan conversion plus accrued interest | 1,750,088 | 8,750 | 1,741,338 | ' | ' | ' |
Loan conversion plus accrued interest, shares | ' | 8,750,440 | ' | ' | ' | ' |
Foreign currency translation gain/(loss) | 100,901 | ' | ' | ' | ' | 100,901 |
Beneficial conversion value for convertible debt and financial instruments | 1,695,000 | ' | 1,695,000 | ' | ' | ' |
Net loss attributable to Tara Minerals' shareholders | -4,033,588 | ' | ' | ' | -4,033,588 | ' |
Balance at Dec. 31, 2009 | 3,673,386 | 51,036 | 9,886,201 | ' | -6,123,835 | -140,016 |
Balance, shares at Dec. 31, 2009 | ' | 51,036,092 | ' | ' | ' | ' |
Common stock sold for cash | 2,111,543 | 3,441 | 2,320,846 | -212,744 | ' | ' |
Common stock sold for cash, shares | ' | 3,440,657 | ' | ' | ' | ' |
Common stock issued for services | 4,397,209 | 2,222 | 4,394,987 | ' | ' | ' |
Common stock issued for services, shares | ' | 2,222,039 | ' | ' | ' | ' |
Common stock issued for compensation | 157,000 | 100 | 156,900 | ' | ' | ' |
Common stock issued for compensation, shares | ' | 100,000 | ' | ' | ' | ' |
Exploration expense paid with common stock | 984,375 | 437 | 983,938 | ' | ' | ' |
Exploration expense paid with common stock, shares | ' | 437,500 | ' | ' | ' | ' |
Options for officer compensation and vested options | 3,405,967 | ' | 3,405,967 | ' | ' | ' |
Option valuation for services | 3,078,564 | ' | 3,078,564 | ' | ' | ' |
Debt discount on notes payable, related and non-related party | 288,575 | ' | 288,575 | ' | ' | ' |
Loan conversion plus accrued interest | 1,342,440 | ' | ' | 1,342,440 | ' | ' |
Loan conversion plus accrued interest, shares | ' | ' | ' | ' | ' | ' |
Foreign currency translation gain/(loss) | -106,237 | ' | ' | ' | ' | -106,237 |
Net loss attributable to Tara Minerals' shareholders | -15,838,522 | ' | ' | ' | -15,838,522 | ' |
Balance at Dec. 31, 2010 | 3,494,300 | 57,236 | 24,515,978 | 1,129,696 | -21,962,357 | -246,253 |
Balance, shares at Dec. 31, 2010 | ' | 57,236,288 | ' | ' | ' | ' |
Common stock sold for cash | 3,008,044 | 6,657 | 2,788,643 | 212,744 | ' | ' |
Common stock sold for cash, shares | ' | 6,657,348 | ' | ' | ' | ' |
Common stock issued for services | 417,450 | 355 | 417,095 | ' | ' | ' |
Common stock issued for services, shares | ' | 355,000 | ' | ' | ' | ' |
Common stock issued for compensation | 100,000 | 100 | 99,900 | ' | ' | ' |
Common stock issued for compensation, shares | ' | 100,000 | ' | ' | ' | ' |
Exploration expense paid with common stock | 2,491,990 | 1,246 | 1,057,939 | 1,432,805 | ' | ' |
Exploration expense paid with common stock, shares | ' | 1,246,100 | ' | ' | ' | ' |
Option valuation for services | 529,738 | ' | 529,738 | ' | ' | ' |
Beneficial conversion feature on financial instrument | 180,000 | ' | 180,000 | ' | ' | ' |
Loan conversion plus accrued interest | ' | 1,119 | 1,341,321 | -1,342,440 | ' | ' |
Loan conversion plus accrued interest, shares | ' | 1,118,699 | ' | ' | ' | ' |
Foreign currency translation gain/(loss) | 37,036 | ' | ' | ' | ' | 37,036 |
Net loss attributable to Tara Minerals' shareholders | -3,371,096 | ' | ' | ' | -3,371,096 | ' |
Balance at Dec. 31, 2011 | 6,887,461 | 66,713 | 30,930,613 | 1,432,805 | -25,333,453 | -209,217 |
Balance, shares at Dec. 31, 2011 | ' | 66,713,435 | ' | ' | ' | ' |
Common stock sold for cash, and options and warrants exercises | 357,000 | 919 | 356,081 | ' | ' | ' |
Common stock sold for cash, and options and warrants exercises, shares | ' | 919,000 | ' | ' | ' | ' |
Common stock issued for services | 54,000 | 60 | 53,940 | ' | ' | ' |
Common stock issued for services, shares | ' | 60,000 | ' | ' | ' | ' |
Stock issued for prepaid services | 50,400 | ' | ' | 50,400 | ' | ' |
Exploration expense paid with common stock | 430,000 | 1,060 | 1,861,745 | -1,432,805 | ' | ' |
Exploration expense paid with common stock, shares | ' | 1,059,843 | ' | ' | ' | ' |
Option valuation for services | 354,865 | ' | 354,865 | ' | ' | ' |
Beneficial conversion feature on financial instrument | 20,000 | ' | 20,000 | ' | ' | ' |
Foreign currency translation gain/(loss) | 22,071 | ' | ' | ' | ' | 22,071 |
Net loss attributable to Tara Minerals' shareholders | -1,949,227 | ' | ' | ' | -1,949,227 | ' |
Balance at Dec. 31, 2012 | 6,226,570 | 68,752 | 33,577,244 | 50,400 | -27,282,680 | -187,146 |
Balance, shares at Dec. 31, 2012 | 68,752,278 | 68,752,278 | ' | ' | ' | ' |
Common stock sold for cash, and options and warrants exercises | 2,274,000 | 9,400 | 2,264,600 | ' | ' | ' |
Common stock sold for cash, and options and warrants exercises, shares | ' | 9,400,000 | ' | ' | ' | ' |
Common stock issued for services | 172,900 | 830 | 222,470 | -50,400 | ' | ' |
Common stock issued for services, shares | 47,466 | 830,000 | ' | ' | ' | ' |
Stock issued for prepaid services | 47,466 | ' | ' | 47,466 | ' | ' |
Option valuation for services | 59,645 | ' | 59,645 | ' | ' | ' |
Beneficial conversion feature on financial instrument | 800,000 | 1,600 | 798,400 | ' | ' | ' |
Settlement expense | 150,000 | 500 | 149,500 | ' | ' | ' |
Settlement expense, shares | ' | 500,000 | ' | ' | ' | ' |
Foreign currency translation gain/(loss) | 19,562 | ' | ' | ' | ' | 19,562 |
Beneficial conversion value for convertible debt and financial instruments | 120,000 | ' | 120,000 | ' | ' | ' |
Net loss attributable to Tara Minerals' shareholders | -8,474,443 | ' | ' | ' | -8,474,443 | ' |
Balance at Dec. 31, 2013 | $1,395,700 | $81,082 | $37,191,859 | $47,466 | ($35,757,123) | ($167,584) |
Balance, shares at Dec. 31, 2013 | 81,082,278 | 81,082,278 | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | 92 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Cash flows from operating activities: | ' | ' | ' |
Net loss attributable to Tara Minerals' shareholders | ($8,474,443) | ($1,949,227) | ($35,757,123) |
Adjustments to reconcile net loss to net cash: | ' | ' | ' |
Depreciation and amortization | 310,350 | 287,884 | 1,173,049 |
Allowance for doubtful accounts | 45,283 | 867,241 | 2,744,719 |
Stock based compensation and stock bonuses | 59,645 | 674,788 | 9,199,375 |
Issuance of common stock payable for services | 220,366 | 164,000 | 6,173,500 |
Settlement loss, net | 1,064,996 | ' | 1,814,996 |
Non-controlling interest in net (loss) income of consolidated subsidiaries | -47,753 | 484,407 | -15,815 |
Non-controlling interest - stock issued to third parties of subsidiaries | ' | ' | 671,028 |
Accretion of beneficial conversion feature and debt discount | 245,652 | ' | 2,229,227 |
Exploration expenses paid with parent and subsidiary common stock | ' | 430,000 | 4,146,365 |
Loss on debt due to extinguishment and conversion | 7,000 | ' | 783,952 |
Accrued interest converted to common stock | ' | ' | 84,438 |
Income tax provision (benefit) | 6,284,000 | -727,000 | -959,000 |
Gain from discontinued operations, net of tax | ' | -3,618,402 | -3,618,402 |
Gain on dissolution of joint venture | ' | ' | -100,000 |
Gain on bargain acquisition of ACM | -3,489,971 | ' | -3,489,971 |
Other | 28,502 | 9,904 | 120,873 |
Changes in operating assets and liabilities: | ' | ' | ' |
Other receivables, net | -85,509 | -377,790 | -1,702,635 |
Prepaid expenses | -60,405 | 10,361 | -166,544 |
Other assets | 2,897 | -788 | -90,644 |
Accounts payable and accrued expenses | 762,967 | -593,055 | 1,479,571 |
Net cash used in operating activities | -3,126,423 | -4,337,677 | -16,779,041 |
Cash flows from investing activities: | ' | ' | ' |
Acquisition of property, plant, equipment, land and construction in progress | -217,066 | -561,997 | -3,424,246 |
Purchase of mining concession including mining deposits | -650,000 | 1,836 | -1,719,907 |
Proceeds from the sale or disposal of assets | ' | ' | 29,128 |
Proceeds from the sale of ACM | ' | 7,500,000 | 7,500,000 |
Investment in ACM | ' | -224,521 | -224,521 |
Other | ' | ' | -1,721 |
Net cash (used in) provided by investing activities | -867,066 | 6,715,318 | 2,158,733 |
Cash flows from financing activities: | ' | ' | ' |
Cash from the sale of common stock | 2,274,000 | 357,000 | 12,337,332 |
Proceeds from notes payable, related party | ' | ' | 150,000 |
Proceeds from notes payable | 150,000 | ' | 630,000 |
Payments towards notes payable | -26,211 | -741,447 | -2,083,160 |
Payments towards notes payable, related party | ' | -100,000 | -100,000 |
Payment towards equipment financing | ' | ' | -201,438 |
Change in due to/from related parties, net | 746,233 | -1,424,189 | 1,076,015 |
Common stock receivable | ' | ' | -212,744 |
Payments from joint venture partners | ' | ' | 100,000 |
Non-controlling interest - cash from sale of sale of common stock of subsidiaries | ' | ' | 2,368,645 |
Iron Ore Properties financial instrument | ' | 50,000 | 800,000 |
Net cash provided by (used in) financing activities | 3,144,022 | -1,858,636 | 14,864,650 |
Effect of exchange rate changes on cash | 19,562 | 22,071 | -167,584 |
Net (decrease) increase | -829,905 | 541,076 | 76,758 |
Cash, beginning of period | 906,663 | 365,587 | ' |
Cash, end of period | 76,758 | 906,663 | 76,758 |
Supplemental Information: | ' | ' | ' |
Interest paid | 6,379 | 17,608 | 307,441 |
Income taxes paid | ' | ' | 10,565 |
Non-cash Investing and Financing Transactions: | ' | ' | ' |
Purchase of mining concession paid by debt to related party plus capitalized interest | ' | ' | 1,445,448 |
Purchase of or (reduction) in purchase of concession paid with notes payable or mining deposits plus capitalized interest | ' | 1,978,693 | 3,400,837 |
Recoverable value-added taxes incurred through additional debt and due to related party, net of mining concession modification | ' | 348,000 | 2,101,293 |
Beneficial conversion value for convertible debt and financial instruments | 120,000 | ' | 2,015,000 |
Conversion of debt to common stock, plus accrued interest | 800,000 | ' | 3,109,438 |
Purchase of property and equipment through debt and common stock | 29,038 | ' | 1,327,089 |
Issuance of common stock for Tara Gold Payable | ' | ' | 100,000 |
Issuance of common stock payable for services | 220,366 | 164,000 | 6,173,500 |
Reclassification of assets held for disposal, net | ' | 29,262 | 29,262 |
Receivable reclassified to mining deposit | ' | ' | 58,368 |
Construction in progress or mining deposit reclassified to property, plant and equipment | 112,582 | ' | 112,582 |
Issuance of common stock for legal settlement | 150,000 | ' | 150,000 |
Other | ($12,500) | $31,768 | $19,268 |
Basis_of_Presentation_and_Orga
Basis of Presentation and Organization and Significant Accounting Policies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Basis of Presentation and Organization and Significant Accounting Policies [Abstract] | ' | ||||||||
Basis of Presentation and Organization and Significant Accounting Policies | ' | ||||||||
Note 1. | Basis of Presentation and Organization and Significant Accounting Policies | ||||||||
Basis of Presentation and Organization | |||||||||
Tara Minerals Corp. ("Tara Minerals") explores and develops mining properties which may be productive of gold, silver, copper, lead, zinc, iron, industrial metals and other associated metals. The Company was incorporated in Nevada on May 12, 2006 and is in the exploration stage. | |||||||||
Tara Minerals owns 99.9% of the common stock of American Metal Mining S.A. de C.V. ("AMM"), a Mexican corporation and owns 87% of the common stock of Adit Resources Corp. ("Adit"), which in turns owns 99.9% of American Copper Mining S.A. de C.V. ("ACM"). Tara Minerals' operations in Mexico are conducted through AMM and ACM since Mexican law provides that only Mexican corporations are allowed to own mining properties. AMM's primary focus is on industrial minerals, e.g. copper, zinc. Adit, through ACM, focuses on gold mining concessions. | |||||||||
In these financial statements, unless otherwise indicated, all references to "Company," "we," "our," and/or "us," refer to Tara Minerals and its consolidated subsidiaries. | |||||||||
The Company is a mining company in the exploration stage and presents inception to date information, in accordance with the Financial Accounting Standards Board Accounting Standards Codification ("FASB ASC") Development Stage Entities Topic. | |||||||||
Tara Minerals is a subsidiary of Tara Gold Resources Corp. ("Tara Gold" or "the Company's Parent"). | |||||||||
The consolidated financial statements include the financial statements of the Company and its subsidiaries. All amounts are in U.S. dollars unless otherwise indicated. All significant inter-company balances and transactions have been eliminated in consolidation. | |||||||||
The consolidated financial statements include the accounts of the Company and its subsidiaries. Variable interest entities ("VIE") over which control is achieved through means other than voting rights and we are considered the primary beneficiary would be included in our consolidated financial statements in those periods in which this applies. When the Company is the primary beneficiary of the VIE consolidates the entity if control is achieved through means other than voting rights such as certain capital structures and contractual relationships. At December 31, 2013 and 2012 the Company has no joint ventures or VIEs. | |||||||||
The reporting currency of Tara Minerals and Adit is the U.S. dollar. The functional currency of AMM and ACM is the Mexican Peso. As a result, the financial statements of the subsidiaries have been re-measured from Mexican pesos into U.S. dollars using (i) current exchange rates for monetary asset and liability accounts, (ii) historical exchange rates for non-monetary asset and liability accounts, (iii) historical exchange rates for revenues and expenses associated with non-monetary assets and liabilities and (iv) the weighted average exchange rate of the reporting period for all other revenues and expenses. In addition, foreign currency transaction gains and losses resulting from U.S. dollar denominated transactions are eliminated. The resulting re-measurement gain (loss) is recorded to other comprehensive gain (loss). | |||||||||
Current and historical exchange rates are not indicative of what future exchange rates will be and should not be construed as such. | |||||||||
Relevant exchange rates used in the preparation of the financial statements for the AMM and ACM are as follows for the year ended December 31, 2013 and 2012. Mexican pesos per one U.S. dollar: | |||||||||
31-Dec-13 | |||||||||
Current exchange rate | Ps. | 13.0652 | |||||||
Weighted average exchange rate for the year ended | Ps. | 12.5439 | |||||||
31-Dec-12 | |||||||||
Current exchange rate | Ps. | 12.9880 | |||||||
Weighted average exchange rate for the year ended | Ps. | 12.8204 | |||||||
The Company's significant accounting policies are: | |||||||||
Estimates | |||||||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management routinely makes judgments on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. | |||||||||
Reclassifications | |||||||||
Certain reclassifications, which have no effect on net loss, have been made in the prior period financial statements to conform to the current year presentation. | |||||||||
Cash and Cash Equivalents | |||||||||
For the Statements of Cash Flows, all highly liquid investments with maturity of three months or less are considered to be cash equivalents. There were no cash equivalents as of December 31, 2013 and December 31, 2012. | |||||||||
Fair Value Accounting | |||||||||
As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. | |||||||||
The three levels of the fair value hierarchy are described below: | |||||||||
Level 1 | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | ||||||||
Level 2 | Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; | ||||||||
Level 3 | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). | ||||||||
Concentrations | |||||||||
The Company maintains cash balances at highly-rated financial institutions in the United States. Each institution is insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000 for deposit accounts. The Company had none and two bank accounts in excess of $250,000, at December 31, 2013 and 2012, respectively. The Company has not experienced any losses in these accounts. | |||||||||
Recoverable Value-Added Taxes (IVA) and Allowance for Doubtful Accounts | |||||||||
Impuesto al Valor Agregado taxes (IVA) are recoverable value-added taxes charged by the Mexican government on goods sold and services rendered at a rate of 16%. Under certain circumstances, these taxes are recoverable by filing a tax return and as allowed by the Mexican taxing authority. | |||||||||
Each period, receivables are reviewed for collectability. When a receivable has doubtful collectability we allow for the receivable until we are either assured of collection (and reverse the allowance) or assured that a write-off is necessary. | |||||||||
Our allowance in association with our receivable from IVA from our Mexico subsidiaries is based on our determination that the Mexican government may not allow the complete refund of these taxes. | |||||||||
31-Dec-13 | 31-Dec-12 | ||||||||
Allowance - recoverable value-added taxes | $ | 1,597,407 | $ | 1,579,129 | |||||
Allowance - other receivables | 348,433 | 321,428 | |||||||
Total | $ | 1,945,840 | $ | 1,900,557 | |||||
Bad debt expense was $178,468 and $836,959 at December 31, 2013 and 2012, respectively. | |||||||||
Property, Plant, Equipment, Mine Development and Land | |||||||||
Mining concessions and acquisitions, exploration and development costs relating to mineral properties with proven reserves are deferred until the properties are brought into production, at which time they will be amortized on the unit of production method based on estimated recoverable reserves. If it is determined that the deferred costs related to a property are not recoverable over its productive life, those costs will be written down to fair value as a charge to operations in the period in which the determination is made. The amounts at which mineral properties and the related deferred costs are recorded do not necessarily reflect present or future values. | |||||||||
The recoverability of the book value of each property is assessed annually for indicators of impairment such as adverse changes to any of the following: | |||||||||
• | estimated recoverable ounces of copper, lead, zinc, silver or other precious minerals | ||||||||
• | estimated future commodity prices | ||||||||
• | estimated expected future operating costs, capital expenditures and reclamation expenditures | ||||||||
A write-down to fair value is recorded when the expected future cash flow is less than the net book value of the property or when events or changes in the property indicate that carrying amounts are not recoverable. This analysis is completed as needed, and at least annually. As of the date of this filing no events have occurred that would require the write-down of any assets. In addition, the carrying amounts of the Company's mining properties are reviewed at each balance sheet date to determine whether there is any indication of impairment. If such indication of impairment exists, the asset's recoverable amount will be reduced to its estimated fair value. As of December 31, 2013 and 2012, respectively, no indications of impairment existed. | |||||||||
Certain mining plant and equipment included in mine development and infrastructure is depreciated on a straight-line basis over their estimated useful lives from 3 - 10 years. Other non-mining assets are recorded at cost and depreciated on a straight-line basis over their estimated useful lives from 3 - 10 years. | |||||||||
Financial and Derivative Instruments | |||||||||
The Company periodically enters into financial instruments. Upon entry, each instrument is reviewed for debt or equity treatment. In the event that the debt or equity treatment is not readily apparent, FASB ASC 480-10-S99 is consulted for temporary treatment. Once an event takes place that removes the temporary element the Company appropriately reclassifies the instrument to debt or equity. | |||||||||
The Company periodically assesses its financial and equity instruments to determine if they require derivative accounting. Instruments which may potentially require derivative accounting are conversion features of debt, equity, and common stock equivalents in excess of available authorized common shares, and contracts with variable share settlements. In the event of derivative treatment, we mark the instrument to market. | |||||||||
Revenue Recognition | |||||||||
Revenue from the sale of concentrate and industrial metals will be recognized when ownership passes to the purchaser at which time the following conditions are met: | |||||||||
i) | persuasive evidence that an agreement exists; | ||||||||
ii) | the risks and rewards of ownership pass to the purchaser including delivery of the product; | ||||||||
iii) | the selling price is fixed and determinable; or, | ||||||||
iv) | collectivity is reasonably assured. | ||||||||
Reclamation and Remediation Costs (asset retirement obligations) | |||||||||
Reclamation costs are allocated to expense over the life of the related assets and are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation and abandonment costs. | |||||||||
Future remediation costs for reprocessing plant and buildings are accrued based on management's best estimate, at the end of each period, of the undiscounted costs expected to be incurred at a site. Such cost estimates include, where applicable, ongoing remediation, maintenance and monitoring costs. Changes in estimates are reflected in earnings in the period an estimate is revised. There were no reclamation and remediation costs accrued as of December 31, 2013 or 2012. | |||||||||
Exploration Expenses and Technical Data | |||||||||
Exploration costs not directly associated with proven reserves on our mining concessions are charged to operations as incurred. | |||||||||
Technical data, including engineering reports, maps, assessment reports, exploration samples certificates, surveys, environmental studies and other miscellaneous information, may be purchased for our mining concessions. When purchased for concessions without proven reserves the cost is considered research and development pertaining to a developing mine and is expensed when incurred. | |||||||||
Income Taxes | |||||||||
Income taxes are provided for using the asset and liability method of accounting in accordance with the Income Taxes Topic of the FASB ASC. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized by management. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The computation of limitations relating to the amount of such tax assets, and the determination of appropriate valuation allowances relating to the realization of such assets, are inherently complex and require the exercise of judgment. As additional information becomes available, management continually assesses the carrying value of our net deferred tax assets. | |||||||||
Stock Based Compensation | |||||||||
Stock based compensation is accounted for using the Equity-Based Payments to Non-Employee's Topic of the FASB ASC, which establishes standards for the accounting of transactions in which an entity exchanges its equity instruments for goods or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that are based on the fair value of the entity's equity instruments or that may be settled by the issuance of those equity instruments. We determine the value of stock issued at the date of grant. We also determine, at the date of grant, the value of stock at fair market value or the value of services rendered (based on contract or otherwise), whichever is more readily determinable. | |||||||||
Shares issued to employees are expensed upon issuance. | |||||||||
Stock based compensation for employees is accounted for using the Stock Based Compensation Topic of the FASB ASC. We use the fair value method for equity instruments granted to employees and will use the Black-Scholes model for measuring the fair value of options, if issued. The stock based fair value compensation is determined as of the date of the grant or the date at which the performance of the services is completed (measurement date) and is recognized over the vesting periods. | |||||||||
Comprehensive Gain (Loss) | |||||||||
Total accumulated comprehensive gain (loss) and the components of accumulated other comprehensive gain (loss) are presented in the Consolidated Statements of Shareholders' Equity. Accumulated other comprehensive gain (loss) is composed of foreign currency translation adjustment effects. Gain from discontinued operations per share was $0 and $0.50 in 2013 and 2012, respectively. | |||||||||
Net Loss per Common Share | |||||||||
Earnings per share is calculated in accordance with the Earnings per Share Topic of the FASB ASC. The weighted-average number of common shares outstanding during each period is used to compute basic earnings (loss) per share. Diluted earnings per share is computed using the weighted average number of shares plus dilutive potential common shares outstanding. Potentially dilutive common shares consist of employee stock options, warrants, and other convertible securities, and are excluded from the diluted earnings per share computation in periods where the Company has incurred a net loss. During the years ended December 31, 2013 and 2012, respectively, the Company incurred a net loss, resulting in no dilutive common shares. | |||||||||
Recently adopted and recently issued accounting guidance | |||||||||
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income, which is included in ASC 220, Comprehensive Income. This update improves the reporting of reclassification out of accumulated other comprehensive income. The adoption of this accounting standard update became effective for the Company's interim and annual reporting periods beginning January 1, 2013 The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows. | |||||||||
In March 2013, the FASB issued ASU No. 2013-05, Liabilities (Topic 830): Parent's Accounting for Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. This ASU is effective for interim and annual periods beginning after December 15, 2013 and requires the release of any cumulative translation adjustment into net income upon derecognition of certain subsidiaries or groups of assets within a foreign entity or of an investment in foreign entity. Management does not anticipate that the accounting pronouncement will have any material future effect on our consolidated financial statements. | |||||||||
In July 2013, FASB issued ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This ASU is effective for interim and annual periods beginning after December 15, 2013. This update standardizes the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Management does not anticipate that the accounting pronouncement will have any material future effect on our consolidated financial statements. | |||||||||
Recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force) and the SEC, did not, or are not believed by management to, have a material impact on the Company's present or future financial position, results of operations or cash flows. |
Assets_Held_for_Disposal_net
Assets Held for Disposal, net | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Assets Held for Disposal, net [Abstract] | ' | ||||||||||||
Assets held for disposal, net | ' | ||||||||||||
Note 2. | Assets Held for Disposal, net | ||||||||||||
Pirita Prospect | |||||||||||||
In June 2009, the Company acquired the Pirita Prospect from an independent third party for the effective purchase price of $250,000, of which $50,000 was paid cash and $230,000 was financed, plus value-added tax of $30,000. As of December 31, 2013 the remaining notes payable is $174,000, including applicable value-added tax. | |||||||||||||
As of December 31, 2013, the Company was in negotiations to amend its agreements relating to the Pirita Prospect which may include the termination of this acquisition agreement and the return of the property, or other disposal. Per the contract, the Company can only return the property if it is in good standing, which requires that all taxes must be paid and the property must be clear of any liabilities. As of December 31, 2013, the Company had not paid the property taxes associated with this prospect and has presented the net amount of $76,000 related to the Pirita prospect as an asset held for disposal, net. | |||||||||||||
Las Viboras Dos Prospect | |||||||||||||
On July 2011, the Company acquired the Las Viboras Dos prospect from an independent third party for an effective purchase price of $188,094, plus value-added tax of $30,095. The purchase price was financed and has a balance of $234,832, including applicable value-added tax. As of December 31, 2013, the Company is in the process of terminating this acquisition agreement and the return of the property, or other disposal and has presented the net amount of ($46,738) related to the Las Viboras Dos prospect as an asset held for disposal, net. | |||||||||||||
Total assets held for disposal, net as of December 31, 2013 and 2012 are the following: | |||||||||||||
Mining Concession | Outstanding Debt | Total Assets Held for | |||||||||||
31-Dec-13 | Disposal, net | ||||||||||||
Pirita Prospect | $ | 250,000 | $ | (174,000 | ) | $ | 76,000 | ||||||
Las Viboras Dos Prospect | 188,094 | (234,832 | ) | (46,738 | ) | ||||||||
$ | 438,094 | $ | (408,832 | ) | $ | 29,262 | |||||||
Mining Concession | Outstanding Debt | Total Assets Held for | |||||||||||
31-Dec-12 | Disposal, net | ||||||||||||
Pirita Prospect | $ | 250,000 | $ | (174,000 | ) | $ | 76,000 | ||||||
Las Viboras Dos Prospect | 188,094 | (234,832 | ) | (46,738 | ) | ||||||||
$ | 438,094 | $ | (408,832 | ) | $ | 29,262 |
Property_Plant_Equipment_Mine_
Property, Plant, Equipment, Mine Development, Land and Construction in Progress, net | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Property, Plant, Equipment, Mine Development, Land and Construction in Progress, net [Abstract] | ' | ||||||||||||
Property, Plant, Equipment, Mine Development, Land and Construction in Progress, net | ' | ||||||||||||
Note 3. | Property, Plant, Equipment, Mine Development, Land and Construction in Progress, net | ||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||
Land | $ | 19,590 | $ | 19,590 | |||||||||
Mining concessions: | |||||||||||||
Pilar (a) | 710,172 | 710,172 | |||||||||||
Don Roman | 521,739 | 521,739 | |||||||||||
Las Nuvias | 100,000 | 100,000 | |||||||||||
Centenario | 635,571 | 635,571 | |||||||||||
La Palma | 80,000 | 80,000 | |||||||||||
La Verde | 60,000 | 60,000 | |||||||||||
Champinon (b) | - | 2,153,693 | |||||||||||
Dixie Mining District (c) | 650,000 | - | |||||||||||
Picacho Groupings (See Note 13) | 1,571,093 | - | |||||||||||
Mining concessions | 4,328,575 | 4,261,175 | |||||||||||
Construction in progress | - | 269,244 | |||||||||||
Property, plant and equipment | 4,142,245 | 3,786,947 | |||||||||||
8,490,410 | 8,336,956 | ||||||||||||
Less - accumulated depreciation | (1,145,991 | ) | (836,184 | ) | |||||||||
$ | 7,344,419 | $ | 7,500,772 | ||||||||||
Pilar, Don Roman, Las Nuvias, Centenario, La Palma and La Verde properties are geographically located in Mexico and are known as the Don Roman Groupings. | |||||||||||||
The Picacho and Picacho Fractions are geographically located in Mexico and are known as the Picacho Groupings. | |||||||||||||
a. | In January 2007, the Company acquired the Pilar de Mocoribo Prospect ("Pilar") from Tara Gold Resources Corp. for $739,130 plus $115,737 of value-added tax (as amended). The Company owes $535,659 for this mining concession (including the applicable value-added tax). | ||||||||||||
In accordance with the Interest Topic of FASB ASC, the future payments of the total payment amount of $739,130 have been discounted using the incremental borrowing rate of 5.01%. As of December 31, 2013, the present value of future payments is as follows: | |||||||||||||
Debt | IVA | Total | |||||||||||
Total remaining debt | $ | 486,739 | $ | 77,878 | $ | 564,617 | |||||||
Imputed interest | (28,959 | ) | - | (28,959 | ) | ||||||||
Present value of debt | $ | 457,780 | $ | 77,878 | $ | 535,658 | |||||||
b. | In September 2011, the Company leased the Mina El Champinon Iron Ore Project ("Champinon") in exchange for royalty payments based on production. From September 2011 to April 2012, the Company paid $235,000, plus $38,000 in value-added taxes in advances against royalty payments. | ||||||||||||
In May, 2012, the Company terminated the lease agreement for Champinon and entered into a new agreement to acquire the Iron Ore Project for an effective purchase price of $2,175,000, plus $348,000 in value-added taxes. The advances against royalty payments made before the lease agreement was terminated were applied against the effective purchase of the Iron Ore Project. | |||||||||||||
In 2012, the Company purchased technical data pertaining to Champinon from the former owner for 500,000 shares of Tara Minerals' common stock, valued at $430,000 and $250,000 cash. | |||||||||||||
On March 15, 2013, a Settlement Agreement and Release ("settlement agreement") was entered into by and among the Company, Jeffrey Holt, Tom Claridge, Steve Eady, Carnegie Mining and Exploration, Inc. ("CMEI"), CME Operations, LLC ("CME")(CMEI and CME, referred to as "Carnegie"), Harsco Corporation, and Pittsburgh Mineral & Environmental Technology, Inc. In exchange for Carnegie's acknowledgement that it has no rights under a previously granted option on the Don Roman Groupings, the Company assigned its Champinon mining rights purchase contract, including all related obligations and acquisition payments, to Plathio Trading Mexico, SA de CV, Carnegie's Mexican subsidiary, and the Company agreed to issue to Carnegie 500,000 restricted shares of Tara Minerals' common stock, which may not be sold until the earlier of: (i) Tara Minerals' shares reaching a minimum trading price of $1.00 per share; or (ii) two years from the date of the settlement agreement. Under the settlement agreement for the Champinon property, the Company retains mining and beneficial rights to known silver, zinc, and led vein structure present on the Champinon concession. On March 22, 2013, the 500,000 restricted shares were issued valued at $150,000. The settlement agreement confirms Carnegie's acknowledgement of the Company's 100% ownership of the Don Roman Groupings. | |||||||||||||
Per the settlement agreement dated March 15, 2013, the Company retained ownership of 14 hectares of the Champinon mining concession which the Company valued at $203,000. As of December 2013, the Company was notified of a default of the purchase contract by non-performance of Carnegie; the Company concluded that at this time the probability of retaining claim on the 14 hectares of the Champinon mining concession is remote and therefore removed the mining concession from its books and recognized it as an additional loss on the settlement agreement. | |||||||||||||
The Company recognized a total loss of $1,064,996 on the settlement agreement mentioned above. | |||||||||||||
c. | During 2013, the Company acquired the Black Diamond and Ontario prospects in the Dixie Mining District from an unrelated third party for $650,000. Management internally calls this the Ponderosa Project in the Dixie Mining District. The Dixie Mining District is located in the state of Idaho in the U.S. The purchase price was paid in full in 2013. The land package consists of 6,741 acres consisting of both patented and unpatented mining claims. | ||||||||||||
The former owner of the prospects is entitled to receive royalties upon all ore, mineral-bearing rock and other deposits extracted and shipped or milled, treated, and sold from the property in the amount of 3% of the net smelter or mill returns earned from the property prior to December 31, 2014. The royalty agreement provides that the payment of the royalty will terminate upon the independent third party receiving $558,160. If the former owner has not received that amount in royalty payments as of December 31, 2014, the Company is required to pay the difference, if any, between the $558,160 and the amount of royalties received from the Company. No royalty is owed to the former owner if mining on the property is not yet economically feasible. As of April 14, 2014 based on the amount of exploration conducted it is not yet economically feasible and no royalty payments have been paid. | |||||||||||||
Other Mining Commitments | |||||||||||||
Tania Iron Ore Project | |||||||||||||
The Company leased the Tania Iron Ore Project in May 2011 for royalty payments based on production. | |||||||||||||
The Company has the right to remove 6 million tonnes of iron ore concentrate from the property, with renewal rights extending through the life of the property. The Company had agreed to pay $6 per tonne for the first 500,000 tonnes removed from the property and $7 per tonne thereafter. As of December 31, 2013 the Company has paid $100,000 against future royalty payments. |
Other_Assets_current_and_noncu
Other Assets, current and non-current | 12 Months Ended | |
Dec. 31, 2013 | ||
Other assets, current and non-current [Abstract] | ' | |
Other assets, current and non-current | ' | |
Note 4. | Other Assets, current and non-current | |
In 2011, the Company paid a $100,000 advance to the Tania Iron Ore Property vendor, against future royalty payments and $175,000 to the subcontractor at the Tania Iron Ore Property for property improvements. Although the Company is seeking the return of the $175,000 from the subcontractor for non-performance, a full allowance for the receivable has been recognized at December 31, 2013 and 2012. | ||
As of December 31, 2013 and December 31, 2012, respectively, the Company's other current assets consisted of prepaid expenses of $114,425 and $54,020 and security deposits of $21,684 and $24,581. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income taxes [Abstract] | ' | ||||||||||||
Income taxes | ' | ||||||||||||
Note 5. | Income Taxes | ||||||||||||
The Company files income tax returns in the United States ("U.S.") and Mexican jurisdictions. In the U.S., Tara Minerals and Adit file a consolidated tax return of which 2012 has been filed and 2013 will be filed by the U.S. extension deadline. In Mexico, AMM and ACM file standalones tax returns of which 2012 for AMM and ACM have been filed, and 2013 for AMM has been filed and ACM will be filed as soon as all necessary items are obtained. No tax returns for the Company or any subsidiary of the Company are currently under examination by any tax authorities in their respective countries, except for routine tax reviews for AMM for January - December 2011, and September 2009. | |||||||||||||
The provision for federal and state income taxes for the year ended December 31, 2013 includes elements of the Tara Minerals and Adit as one filing entity; and the Mexico Companies as separate filing entities. | |||||||||||||
The December 31, 2013 and since inception income tax benefit, net of tax associated with discontinued operations, is as follows: | |||||||||||||
U.S. Companies | Mexico Companies | Total | |||||||||||
Current asset (liability) - total | $ | - | $ | - | $ | - | |||||||
Deferred asset (liability) - total | 7,309,000 | 2,478,000 | 9,787,000 | ||||||||||
Valuation allowance | (7,309,000 | ) | (2,478,000 | ) | (9,787,000 | ) | |||||||
Income tax benefit, since inception | $ | - | $ | - | $ | - | |||||||
A valuation allowance is recorded when it is more likely than not that the deferred tax assets will be realized. The future use of deferred tax assets is dependent on the future taxable profits which arise from taxable temporary timing differences such as: | |||||||||||||
· | Differences in expensed stock based compensation and stock for investor relation services and corporate officers. | ||||||||||||
· | The capitalization of foreign mining exploration expenses for U.S. federal income tax purposes. | ||||||||||||
· | A carry forward of a net operating loss. | ||||||||||||
At December 31, 2013, total deferred tax assets and deferred tax liabilities are as follows: | |||||||||||||
U.S. Companies | Mexico Companies | Total | |||||||||||
Deferred tax asset - current | $ | 4,456,000 | $ | - | $ | 4,456,000 | |||||||
Deferred tax asset - non-current portion | 2,853,000 | 2,478,000 | 5,331,000 | ||||||||||
Total deferred tax asset | 7,309,000 | 2,478,000 | 9,787,000 | ||||||||||
Deferred tax liability - current | - | - | - | ||||||||||
Deferred tax liability - non current | - | - | - | ||||||||||
Total deferred tax liability | - | - | - | ||||||||||
Valuation allowance | (7,309,000 | ) | (2,478,000 | ) | (9,787,000 | ) | |||||||
Net deferred tax asset (liability) | $ | - | $ | - | $ | - | |||||||
Net operating losses generated in the U.S. may only be used to offset income generated in the U.S. The U.S. deferred tax asset from 2012 has been reduced from approximately $6,284,000 to zero due to management's forecast on the ability to utilize the related deferred tax assets as of 2013 or in 2014. | |||||||||||||
Net operating losses generated in Mexico may only be used to offset income generated in Mexico. AMM has a net operating loss in Mexico of approximately $8,200,000 with an estimated deferred tax benefit of $2,460,000. ACM has a net operating loss in Mexico of approximately $59,000 with an estimated deferred tax benefit of $18,000. The net operating loss and estimated tax benefit has been added to net operating losses and tax benefits from previous years. | |||||||||||||
Per the Income Tax topic of the FASB ASC, when it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit. We have fully allowed for the entire deferred tax asset for the Company and all subsidiaries as of December 31, 2013. | |||||||||||||
Net operating losses expire as follows: | |||||||||||||
U.S. Companies | Mexico Companies | Total | |||||||||||
31-Dec-30 | $ | 7,600,000 | $ | 3,701,000 | $ | 11,301,000 | |||||||
31-Dec-31 | 2,366,000 | 1,853,000 | 4,219,000 | ||||||||||
31-Dec-32 | - | 1,459,000 | 1,459,000 | ||||||||||
31-Dec-33 | 336,000 | 1,186,000 | 1,522,000 | ||||||||||
Total net operating loss | $ | 10,302,000 | $ | 8,199,000 | $ | 18,501,000 | |||||||
Per U.S. Internal Revenue Code Section 382, in the event of a change of ownership, the availability of the Company's net operating losses carry forwards may be subject to an annual limitation against taxable income in future periods, which could substantially limit the eventual utilization of this net operating loss carry forwards. This limitation may not apply pursuant to an ownership change as described in Section 1262 of P.L. 111-5. | |||||||||||||
Reconciliation of the differences between the statuary tax rate and the effective income tax rate is as follows: | |||||||||||||
2013 | |||||||||||||
Amount | Percentage | ||||||||||||
Tax at statutory federal rate | $ | (783,000 | ) | (35.0 | %) | ||||||||
Temporary differences | |||||||||||||
Exploration cost - current | 50,000 | 2.2 | % | ||||||||||
Exploration cost - non-current | 425,000 | 19 | % | ||||||||||
Stock based compensation | 21,000 | 0.9 | % | ||||||||||
Decrease in deferred tax asset due to re-acquisition of ACM | 6,284,000 | 280.8 | % | ||||||||||
Valuation allowance for U.S. Companies | (424,000 | ) | (18.9 | %) | |||||||||
Valuation allowance for Mexico | 711,000 | 31.8 | % | ||||||||||
Tax provision at effective rate | $ | 6,284,000 | 280.8 | % | |||||||||
Tax Matters related to the Company's Parent Company Tara Gold: | |||||||||||||
Corporacion Amermin S.A. de C.V. ("Amermin") is a sister company to Tara Minerals through common ownership of the Company parent, Tara Gold. Amermin's 2007 tax return has been audited by the Mexican government, with their corresponding report dated January 13, 2011. An appeal to this report was filed March 10, 2011, but in conjunction with the sale of ACM in 2012, the Company paid the related lien and is taking action necessary towards seeking a refund from the Mexico tax authorities. The Company remains confident of a successful outcome of the refund as Amermin's records indicate that, at the time of notification, all applicable taxes due from Amermin had been paid and the ownership of the Picacho Groupings had been renegotiated to ACM with all related taxes payable by ACM having been paid. |
Notes_Payable_and_Convertible_
Notes Payable and Convertible Note Payable, net | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Notes Payable and Convertible Note Payable, net [Abstract] | ' | ||||||||||||||||||||||||
Notes Payable and Convertible Note Payable, net | ' | ||||||||||||||||||||||||
Note 6. | Notes Payable and Convertible Note Payable, net | ||||||||||||||||||||||||
The following table represents the outstanding balance of notes payable. | |||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Mining concession | $ | - | $ | 1,622,027 | |||||||||||||||||||||
Auto loans | 66,619 | 63,792 | |||||||||||||||||||||||
Convertible note payable, net | 75,652 | - | |||||||||||||||||||||||
142,271 | 1,685,819 | ||||||||||||||||||||||||
Less - current portion | (38,614 | ) | (964,288 | ) | |||||||||||||||||||||
Less - current portion convertible note payable, net | (75,652 | ) | - | ||||||||||||||||||||||
Total - non-current portion | $ | 28,005 | $ | 721,531 | |||||||||||||||||||||
See Note 3 above for notes payable relating to mining concessions and Note 7 for notes payable, related party. | |||||||||||||||||||||||||
The Company financed the purchase of a fleet of vehicles during 2010 and 2011. Notes payable interest rates range between 13.5% and 14.5%; notes payable mature between August 2014 and June 2015. As of December 31, 2013 and 2012 the outstanding balance of the loans was $39,796 and $63,793, respectively. | |||||||||||||||||||||||||
During the year ended December 31, 2013, the Company purchased a vehicle to be used in operations for $31,038. The Company paid $2,000 as a down payment and financed the remainder of $29,038 by issuing a note payable. The note carries interest at 3.74% and matures in August 2018. As of December 31, 2013 the outstanding balance on the loan was $26,823. | |||||||||||||||||||||||||
During the year ended December 31, 2013 the Company raised $150,000 through a convertible note payable. The note payable is due in February 2014; bears interest of 16% per year and can be converted to the Company's stock at $0.10 per share. The beneficial conversion feature of the note payable was determined to be $120,000 of which $45,652 was amortized as of December 31, 2013. Interest expense related to the convertible note was $2,301 as of December 31, 2013. The convertible note had not been paid as of April 14, 2014. | |||||||||||||||||||||||||
The five year maturity schedule for notes payable and convertible notes payable, net is presented below: | |||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Total | ||||||||||||||||||||
Auto Loans | $ | 38,614 | $ | 12,315 | $ | 5,892 | $ | 6,120 | $ | 3,678 | $ | 66,619 | |||||||||||||
Convertible note payable, net | 75,652 | - | - | - | - | 75,652 | |||||||||||||||||||
Total | $ | 114,266 | $ | 12,315 | $ | 5,892 | $ | 6,120 | $ | 3,678 | $ | 142,271 |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Related Party Transactions [Abstract] | ' | ||||||||
Related Party Transactions | ' | ||||||||
Note 7. | Related Party Transactions | ||||||||
31-Dec-13 | 31-Dec-12 | ||||||||
Due from related parties | $ | 221,592 | $ | 970,300 | |||||
Due to related parties | -1,739,207 | -1,741,682 | |||||||
$ | -1,517,615 | $ | -771,382 | ||||||
All transactions with related parties have occurred in the normal course of operations. Mexico based related party transactions are measured at the appropriate foreign exchange amount. | |||||||||
In January 2007, Corporacion Amermin S.A. de C.V. ("Amermin"), a subsidiary of Tara Gold, made the arrangements to purchase Pilar, Don Roman and Las Nuvias properties listed in Note 3 (part of the Don Roman Groupings) and sold the concessions to AMM. At December 31, 2013, Amermin has paid the original note holder in full and AMM owes Amermin $535,659 for the Pilar mining concession and $211,826 for the Don Roman mining concession. | |||||||||
As of December 31, 2013, Amermin had loaned AMM $991,722 at 0% interest, due on demand. | |||||||||
As of December 31, 2013, Tara Gold owed the Company a total of $111,782 at 0% interest, due on demand. During the year ended December 31, 2013, Tara Gold made a payment in the amount of $995,976 to the Company for amounts previously borrowed. | |||||||||
The following are intercompany transactions that eliminate during the consolidation of these financial statements: | |||||||||
During 2012, Tara Minerals issued Adit six promissory notes for $4,286,663. During 2013, Tara Minerals issued Adit one promissory note for $610,000. Notes due between May 2013 and January 2014 were extended for one year. These notes are unsecured, bear interest at U.S. prime rate plus 3.25% per year and are due and payable between May 2014 and January 2015. As of December 31, 2013 Tara Minerals owed Adit $5,334,934 in interest and principal. |
Iron_Ore_Properties_and_Relate
Iron Ore Properties and Related Financial Instrument | 12 Months Ended | |
Dec. 31, 2013 | ||
Iron Ore Properties and Related Financial Instrument [Abstract] | ' | |
Iron Ore Properties and Related Financial Instrument | ' | |
Note 8. | Iron Ore Properties and Related Financial Instrument | |
The Company raised $750,000 (2011) and $50,000 (2012), for a total of $800,000 through a financial instrument to fund potential iron ore properties. The financial instrument has no repayment requirement, except if the iron ore properties generate revenue. As the Company's common stock had not been issued and this is not a debt instrument, the amount raised was treated as a temporary financing instrument until such time as changes that require debt or permanent equity treatment. The beneficial conversion feature of this instrument was determined to be $180,000 (2011) and $20,000 (2012), for a total of $200,000. | ||
In January 2013, the Company entered into conversion agreements to convert the instruments to 1,600,000 shares of Tara Minerals' common stock. All shares were issued as of December 31, 2013 (see Note 9). |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | |
Dec. 31, 2013 | ||
Stockholders' Equity [Abstract] | ' | |
Stockholders' Equity | ' | |
Note 9. | Stockholders' Equity | |
The authorized common stock of Tara Minerals consists of 200,000,000 shares with par value of $0.001. | ||
In April 2012, the Company sold 594,000 units in a private offering for $297,000 in cash, or $0.50 per unit. Each unit consisted of one share of common stock and one warrant. Each warrant entitles the holder to purchase one share of common stock at a price of $1.00 per share for one year. | ||
April 2012, the Company issued 125,000 shares of common stock for warrants exercised, for $50,000 in cash or $0.40 a share. | ||
April 2012, the Company issued 60,000 shares of common stock, valued at $54,000 or $0.90 a share for services rendered. | ||
June 2012, the Company issued 500,000 shares of common stock, valued at $430,000 or $0.86 a share for the purchase of Champinon's technical data. See Note 3 above. | ||
June 2012, the Company issued 559,843 shares of common stock in satisfaction of the common stock payable pursuant to the acquisition of Centenario, La Verde and La Palma's technical data. See Note 3 above. | ||
June 2012, the Company issued 200,000 shares of common stock for options exercised, for $10,000 in cash or $0.05 a share. | ||
In December 2012, the Company entered into investor relations consulting agreements for six month terms payable in 140,000 shares of common stock, valued at $50,400. The shares were issued in February 2013. | ||
In January 2013, the Company entered into conversion agreements to convert the financial instrument (see Note 8) to a total of 1,600,000 shares of the Company's common stock. In February 2013, the Company issued 300,000 shares of common stock and 1,300,000 additional shares of common stock were issued October 2013. | ||
In February 2013, the Company issued 50,000 shares of common stock, valued at $18,000, or $0.36 a share for investor relations services. | ||
In March 2013, the Company issued 500,000 shares of common stock, valued at $150,000, or $0.30 a share per the Champinon settlement agreement (see Note 3). | ||
In January and March 2013, the Company sold 3,500,000 shares of common stock subscribed to under a private placement with independent parties for $700,000, or $0.20 per share; shares were issued in June 2013. | ||
In June 2013, the Company issued 4,500,000 shares of common stock, valued at $1,350,000, or $0.30 a share for cash to its parent, Tara Gold Resources Corp. | ||
In June 2013, the Company issued 250,000 shares of common stock, valued at $70,000, or $0.28 a share for investor relations services incurred during the period. | ||
In June 2013, the Company issued 100,000 shares of common stock, valued at $29,000, or $0.29 a share for investor relations services incurred during the period. | ||
In July 2013, the Company entered into investor relations consulting agreements for six month terms payable in 190,000 shares of common stock, valued at $30,400. The shares were issued in October 2013. | ||
In September 2013, the Company sold 500,000 shares of common stock subscribed under a private placement with independent parties for $100,000, or $0.20 per share. The shares were issued in October 2013. | ||
In October 2013, the Company issued 50,000 shares of common stock, valued at $13,500, or $0.27 a share for investor relations services incurred in September 2013. | ||
In October 2013, the Company sold 500,000 shares of common stock subscribed under a private placement with independent parties for $100,000, or $0.20 per share. The shares were issued in December 2013. | ||
In December 2013, the Company issued 50,000 shares of common stock, valued at $12,000, or $0.24 a share for investor relations services incurred in October 2013. | ||
In December 2013, the Company issued 400,000 shares of common stock subscribed under a private placement with independent parties for $24,000, or $0.06 per share for cash. | ||
The Company received mine safety services and trainings valued at $47,466 performed during the year ended December 31, 2013 to be paid with 213,047 shares of common stock, which remain outstanding as of the date of this filing. |
NonControlling_Interest
Non-Controlling Interest | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Non-controlling Interest [Abstract] | ' | ||||||||
Non-controlling Interest [Text Block] | ' | ||||||||
Note 10. | Non-Controlling Interest | ||||||||
All non-controlling interest of the Company is a result of the Company's subsidiaries stock movement and results of operations. Cumulative results of these activities results in: | |||||||||
31-Dec-13 | 31-Dec-12 | ||||||||
Common stock for cash | $ | 1,999,501 | $ | 1,999,501 | |||||
Common stock for services | 95,215 | 95,215 | |||||||
Exploration expenses paid for in subsidiary common stock | 240,000 | 240,000 | |||||||
Stock based compensation | 1,374,880 | 1,374,880 | |||||||
Cumulative net loss attributable to non-controlling interest | (15,815 | ) | 31,938 | ||||||
Treasury stock | (500,000 | ) | (500,000 | ) | |||||
Other | 6 | 6 | |||||||
Total non-controlling interest | $ | 3,193,787 | $ | 3,241,540 | |||||
A summary of activity as of December 31, 2013 and changes during the period then ended is presented below: | |||||||||
Non-controlling interest at December 31, 2011 | $ | 2,827,213 | |||||||
Officer stock based compensation | 429,924 | ||||||||
Net income attributable to non-controlling interest | 484,407 | ||||||||
Treasury stock | (500,000 | ) | |||||||
Other | (4 | ) | |||||||
Non-controlling interest at December 31, 2012 | 3,241,540 | ||||||||
Net income attributable to non-controlling interest | (47,753 | ) | |||||||
Non-controlling interest at December 31, 2013 | $ | 3,193,787 |
Options_and_Warrants
Options and Warrants | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Options and Warrants [Abstract] | ' | ||||||||||||||||
Options and Warrants | ' | ||||||||||||||||
Note 11. | Options and Warrants | ||||||||||||||||
Tara Minerals has the following incentive plans which are registered under a Form S-8: | |||||||||||||||||
· | Incentive Stock Option Plan | ||||||||||||||||
· | Nonqualified Stock Option Plan | ||||||||||||||||
· | Stock Bonus Plan | ||||||||||||||||
In May 2011, under its Incentive Stock Option Plan Tara Minerals granted two of its officers options for the purchase of 750,000 shares of common stock. In April 2013, the options were cancelled and Tara Minerals concurrently granted new Incentive Stock Options to the officers; under this new grant the officers have the option to purchase 750,000 shares of common stock, exercisable at a price of $0.25 per share and vest at various dates until April 2015. The options expire at various dates beginning April 2020. In accordance with the Stock Compensation Topic, FASB ASC 718-20-35, Tara Minerals has analyzed the cancellation of the award accompanied by the concurrent grant of a replacement award and determined that there was no further incremental compensation cost. The options that vested during the year ended December 31, 2013 associated with this transaction were valued at $59,645. | |||||||||||||||||
In January 2010, Tara Minerals' granted options to three of its officers under its Nonqualified Stock Option Plan. The options allow for the purchase of 1,250,000 shares of common stock at an exercise price of $0.05 per share. These options vested immediately, expire in January 2015 and were valued at $2,334,201. | |||||||||||||||||
In September 2010, Tara Minerals' granted options for 200,000 shares of common stock to an unrelated third party for investor relations services. The options have an exercise price of $1.00 per share, vest between September 2010 and March 2011, and expire two years from the date of vesting. In September 2012, the options' were extended to expire 5 years from the date of vesting, expiring between September 2015 and March 2016. In accordance with the Stock Compensation Topic of the FASB ASC, Tara Minerals' has analyzed the extension of the award and determined that there was no further incremental compensation cost. The options that vested in 2011 associated with this transaction were valued at $36,353; 2010 vesting was valued at $145,412. | |||||||||||||||||
In March 2012, Tara Minerals sold 594,000 units in a private offering for $297,000 in cash, or $0.50 per unit. Each unit consisted of one share of Tara Minerals' common stock, and one warrant. Each warrant entitles the holder to purchase one share of Tara Minerals' common stock at a price of $1.00 per share at or any time before December 31, 2012. The shares and warrants were issued in April 2012. No warrants were exercised prior to expiration. | |||||||||||||||||
In June 2012, Tara Minerals granted options for 200,000 shares of common stock to an unrelated third party for corporate development consulting services. The options had an exercise price of $0.05 per share, vested immediately and were exercised by June 30, 2012. The option valuation for this transaction was $110,000. | |||||||||||||||||
On October 28, 2009, Adit adopted the following incentive plans which have not been registered: | |||||||||||||||||
· | Incentive Stock Option Plan | ||||||||||||||||
· | Nonqualified Stock Option Plan | ||||||||||||||||
· | Stock Bonus Plan | ||||||||||||||||
In October 2009, Adit granted four of its officers options under its Nonqualified Stock Option Plan for the purchase of 1,000,000 shares of common stock. The options have an exercise price of $0.05 per share; the options will vest at a rate of 20% per year; the first set of options vested on October 28, 2010 and is scheduled to expire on November 15, 2015. The options that vested in 2011 and 2010 were valued at $134,979 each year. In October 2012, all remaining options under the October 2009 grant were cancelled due to the sale of the sole mining concession of Adit. Due to the cancellation, the Company immediately recognized a $429,924 stock compensation expense. | |||||||||||||||||
There were no issuances of instruments under the Adit plans in 2013 or 2012. | |||||||||||||||||
The fair value of each award discussed above is estimated on the date of grant using the Black-Scholes valuation model that uses the assumptions noted in the following table. Expected volatilities are based on volatilities from the Company's traded common stock. The expected term of the award granted is usually estimated at half of the contractual term as noted in the individual agreements, unless the life is one year or less based upon management's assessment of known factors, and represents the period of time that management anticipates awards granted to be outstanding. The risk-free rate for the periods within the contractual life of the option is based on the U.S. Treasury bond rate in effect at the time of the grant for bonds with maturity dates at the estimated term of the options. Historically the Company has had no forfeitures of options or warrants, therefore, the Company uses a zero forfeiture rate. | |||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||
Expected volatility | 218.84% | 104.82% - 131.10% | |||||||||||||||
Weighted-average volatility | 218.84% | 117.96% | |||||||||||||||
Expected dividends | 0 | 0 | |||||||||||||||
Expected term (in years) | 2 | 1 | |||||||||||||||
Risk-free rate | 0.22% | 0.05% - 0.14% | |||||||||||||||
A summary of option activity under the plans as of December 31, 2013 and changes during the period then ended is presented below: | |||||||||||||||||
Options | Shares | Weighted- | Weighted-Average | Aggregate | |||||||||||||
Average | Remaining | Intrinsic | |||||||||||||||
Exercise Price | Contractual Term | Value | |||||||||||||||
Outstanding at December 31, 2011 | 3,350,000 | $ | 0.69 | 3 | $ 1,408,500 | ||||||||||||
Granted | 200,000 | 0.05 | |||||||||||||||
Exercised | (200,000 | ) | 0.05 | ||||||||||||||
Forfeited, expired or cancelled | (600,000 | ) | - | ||||||||||||||
Outstanding at December 31, 2012 | 2,750,000 | $ | 0.34 | 3 | $ 1,000,000 | ||||||||||||
Granted | 750,000 | 0.25 | |||||||||||||||
Exercised | - | - | |||||||||||||||
Forfeited, expired or cancelled | (750,000 | ) | 0.48 | ||||||||||||||
Outstanding at December 31, 2013 | 2,750,000 | $ | 0.24 | 3 | $ | 210,000 | |||||||||||
Exercisable at December 31, 2013 | 2,340,000 | $ | 0.3 | 3 | $ | 210,000 | |||||||||||
Non-vested Options | Options | Weighted-Average | |||||||||||||||
Grant-Date Fair Value | |||||||||||||||||
Non-vested at December 31, 2011 | 1,010,000 | $ | 1.08 | ||||||||||||||
Granted | 200,000 | 0.05 | |||||||||||||||
Vested | (450,000 | ) | 0.32 | ||||||||||||||
Forfeited, expired or cancelled | (600,000 | ) | - | ||||||||||||||
Non-vested at December 31, 2012 | 160,000 | $ | 0.48 | ||||||||||||||
Granted | 750,000 | 0.25 | |||||||||||||||
Vested | (340,000 | ) | 0.25 | ||||||||||||||
Forfeited, expired or cancelled | (160,000 | ) | 0.48 | ||||||||||||||
Non-vested at December 31, 2013 | 410,000 | $ | 0.37 | ||||||||||||||
A summary of warrant activity as of December 31, 2013 and 2012, and changes during the period then ended is presented below: | |||||||||||||||||
Warrants | Shares | Weighted-Average | Weighted-Average | Aggregate | |||||||||||||
Exercise Price | Remaining | Intrinsic | |||||||||||||||
Contractual Term | Value | ||||||||||||||||
Outstanding at December 31, 2011 | 7,393,081 | $ | 0.89 | ||||||||||||||
Granted | 594,000 | 1 | |||||||||||||||
Exercised | (125,000 | ) | 0.4 | ||||||||||||||
Forfeited, expired or cancelled | (5,073,748 | ) | 0.51 | ||||||||||||||
Outstanding at December 31, 2012 | 2,788,333 | $ | 1.38 | 1 | $ | - | |||||||||||
Granted | - | - | |||||||||||||||
Exercised | - | - | |||||||||||||||
Forfeited, expired or cancelled | (2,788,333 | ) | (1.38 | ) | |||||||||||||
Outstanding at December 31, 2013 | - | $ | - | - | $ | - | |||||||||||
Exercisable at December 31, 2013 | - | $ | - | - | $ | - | |||||||||||
All warrants vest upon issuance. |
Fair_Value
Fair Value | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value [Abstract] | ' | ||||||||||||||||
Fair Value | ' | ||||||||||||||||
Note 12. | Fair Value | ||||||||||||||||
In accordance with authoritative guidance, the table below sets forth the Company's financial assets and liabilities measured at fair value by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||
Fair Value at December 31, 2013 | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Fair market value of ACM's net identifiable assets | $ | 1,589,000 | $ | - | $ | - | $ | 1,589,000 | |||||||||
acquired (See Note 13) | |||||||||||||||||
Liabilities: | |||||||||||||||||
Beneficial conversion feature of note payable | $ | 74,348 | $ | 74,348 | $ | - | $ | - | |||||||||
(See Note 6) | |||||||||||||||||
Fair Value at December 31, 2012 | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
None | $ | - | $ | - | $ | - | $ | - | |||||||||
Liabilities: | |||||||||||||||||
Iron Ore Properties financial instrument, net | $ | 600,000 | $ | - | $ | (200,000 | ) | $ | 800,000 | ||||||||
(See Note 8) | |||||||||||||||||
The following is a reconciliation of the beginning and ending balances for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year ended December 31, 2013: | |||||||||||||||||
Iron Ore Properties | |||||||||||||||||
Financial Instrument | |||||||||||||||||
Beginning balance | $ | 800,00 | |||||||||||||||
Additions | 1,589,000 | ||||||||||||||||
Reductions (conversion of Iron Ore Instrument) | (800,000 | ) | |||||||||||||||
Ending balance | $ | 1,589,000 | |||||||||||||||
The amount of total gains or losses for the year included in earnings attributable to the change in | $ | - | |||||||||||||||
unrealized gains or losses relating to liabilities still held at reporting date | |||||||||||||||||
Reacquisition_of_ACM
Re-acquisition of ACM | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Re-acquisition of ACM [Abstract] | ' | ||||
Re-acquisition of ACM | ' | ||||
Note 13. | Re-acquisition of ACM | ||||
On April 4, 2012, the Company, sold its 99.99% owned subsidiary, ACM to Yamana Mexico Holdings B.V. ("Yamana"). ACM's primary asset is the Picacho Groupings located in Sonora, Mexico. The Property does not have any proven reserves. | |||||
As consideration for the sale of ACM, Yamana paid $7.5 million, minus approximately $780,000 (the amount required to pay the Mexican government to release its tax lien on the Property). In addition, Yamana surrendered 500,000 Adit's common shares, and warrants to purchase an additional 250,000 Adit's common shares, upon the execution of the sale agreement. | |||||
Yamana had the option to terminate the Agreement within ten business days prior to May 7, 2013 for any reason. If the Agreement was terminated, Yamana would be required to return ownership of ACM and the underlying property to the Company in good standing. If this occurred, the first cash payment made by Yamana would be retained by the Company. | |||||
On May 7, 2013, the Company received notice that Yamana was terminating the purchase agreement. | |||||
The Company calculated the fair value of the assets purchased and liabilities assumed as follows: | |||||
Assets: | 8-May-13 | ||||
Picacho Groupings | $ | 1,571,093 | |||
Improvements (Mine site warehouse) | 18,115 | ||||
Liabilities: | |||||
None | - | ||||
Fair market value of net identifiable assets acquired | 1,589,208 | ||||
Less: Fair value of the consideration transferred for ACM | - | ||||
Add: Release of Adit's tax liability due to the termination of the purchase | 1,900,763 | ||||
Value of assigned gain on bargain acquisition of ACM | $ | 3,489,971 |
Subsequent_Events
Subsequent Events | 12 Months Ended | ||
Dec. 31, 2013 | |||
Subsequent Events [Abstract] | ' | ||
Subsequent Events | ' | ||
Note 14. | Subsequent Events | ||
1 | On January 9, 2014, the Company entered into an Investment Agreement with Panormus Trust and Investments Ltd. and Mediterranea Trust Ltd., collectively referred to as MTI. | ||
The Agreement grants MTI the right to invest in Tara Minerals through the purchase of up to $2,025,000 in the restricted common stock of the Company at $0.30 per share and a targeted loan of $4,725,000 for the development of the Don Roman Groupings (the "Don Roman Project Loan"). The investment is structured as a combination of an equity private placement and a loan for tax efficiency. | |||
The targeted Don Roman Project Loan will be used to advance the Don Roman Groupings to commercial production and is payable from 49% of the net income realized from the minerals recovered from the concession area of the Don Roman Groupings. Initially, MTI's 49% net income interest will be designated as loan repayment. Once the loan has been repaid, MTI will continue to receive 49% of the net income realized from the Don Roman Groupings. | |||
The Company and MTI formed a Management Committee which oversees operations based on a committee approved Business Plan. The loan proceeds will be released from a segregated account based on approved expenditures. Although the Management Committee has been active in the beginning stages of planning, the funds have not yet been received from MTI. | |||
2 | AMM received refunds of IVA taxes during January and February for a total refund of $40,489. |
Basis_of_Presentation_and_Orga1
Basis of Presentation and Organization and Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Basis of Presentation and Organization and Significant Accounting Policies [Abstract] | ' | ||||||||
Basis of Presentation and Organization | ' | ||||||||
Basis of Presentation and Organization | |||||||||
Tara Minerals Corp. ("Tara Minerals") explores and develops mining properties which may be productive of gold, silver, copper, lead, zinc, iron, industrial metals and other associated metals. The Company was incorporated in Nevada on May 12, 2006 and is in the exploration stage. | |||||||||
Tara Minerals owns 99.9% of the common stock of American Metal Mining S.A. de C.V. ("AMM"), a Mexican corporation and owns 87% of the common stock of Adit Resources Corp. ("Adit"), which in turns owns 99.9% of American Copper Mining S.A. de C.V. ("ACM"). Tara Minerals' operations in Mexico are conducted through AMM and ACM since Mexican law provides that only Mexican corporations are allowed to own mining properties. AMM's primary focus is on industrial minerals, e.g. copper, zinc. Adit, through ACM, focuses on gold mining concessions. | |||||||||
In these financial statements, unless otherwise indicated, all references to "Company," "we," "our," and/or "us," refer to Tara Minerals and its consolidated subsidiaries. | |||||||||
The Company is a mining company in the exploration stage and presents inception to date information, in accordance with the Financial Accounting Standards Board Accounting Standards Codification ("FASB ASC") Development Stage Entities Topic. | |||||||||
Tara Minerals is a subsidiary of Tara Gold Resources Corp. ("Tara Gold" or "the Company's Parent"). | |||||||||
The consolidated financial statements include the financial statements of the Company and its subsidiaries. All amounts are in U.S. dollars unless otherwise indicated. All significant inter-company balances and transactions have been eliminated in consolidation. | |||||||||
The consolidated financial statements include the accounts of the Company and its subsidiaries. Variable interest entities ("VIE") over which control is achieved through means other than voting rights and we are considered the primary beneficiary would be included in our consolidated financial statements in those periods in which this applies. When the Company is the primary beneficiary of the VIE consolidates the entity if control is achieved through means other than voting rights such as certain capital structures and contractual relationships. At December 31, 2013 and 2012 the Company has no joint ventures or VIEs. | |||||||||
The reporting currency of Tara Minerals and Adit is the U.S. dollar. The functional currency of AMM and ACM is the Mexican Peso. As a result, the financial statements of the subsidiaries have been re-measured from Mexican pesos into U.S. dollars using (i) current exchange rates for monetary asset and liability accounts, (ii) historical exchange rates for non-monetary asset and liability accounts, (iii) historical exchange rates for revenues and expenses associated with non-monetary assets and liabilities and (iv) the weighted average exchange rate of the reporting period for all other revenues and expenses. In addition, foreign currency transaction gains and losses resulting from U.S. dollar denominated transactions are eliminated. The resulting re-measurement gain (loss) is recorded to other comprehensive gain (loss). | |||||||||
Current and historical exchange rates are not indicative of what future exchange rates will be and should not be construed as such. | |||||||||
Relevant exchange rates used in the preparation of the financial statements for the AMM and ACM are as follows for the year ended December 31, 2013 and 2012. Mexican pesos per one U.S. dollar: | |||||||||
31-Dec-13 | |||||||||
Current exchange rate | Ps. | 13.0652 | |||||||
Weighted average exchange rate for the year ended | Ps. | 12.5439 | |||||||
31-Dec-12 | |||||||||
Current exchange rate | Ps. | 12.9880 | |||||||
Weighted average exchange rate for the year ended | Ps. | 12.8204 | |||||||
Estimates | ' | ||||||||
Estimates | |||||||||
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management routinely makes judgments on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. | |||||||||
Reclassifications | ' | ||||||||
Reclassifications | |||||||||
Certain reclassifications, which have no effect on net loss, have been made in the prior period financial statements to conform to the current year presentation. | |||||||||
Cash and Cash Equivalents | ' | ||||||||
Cash and Cash Equivalents | |||||||||
For the Statements of Cash Flows, all highly liquid investments with maturity of three months or less are considered to be cash equivalents. There were no cash equivalents as of December 31, 2013 and December 31, 2012. | |||||||||
Fair Value Accounting | ' | ||||||||
Fair Value Accounting | |||||||||
As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. | |||||||||
The three levels of the fair value hierarchy are described below: | |||||||||
Level 1 | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | ||||||||
Level 2 | Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; | ||||||||
Level 3 | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). | ||||||||
Concentrations | ' | ||||||||
Concentrations | |||||||||
The Company maintains cash balances at highly-rated financial institutions in the United States. Each institution is insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000 for deposit accounts. The Company had none and two bank accounts in excess of $250,000, at December 31, 2013 and 2012, respectively. The Company has not experienced any losses in these accounts. | |||||||||
Recoverable Value-Added Taxes (IVA) and Allowance for Doubtful Accounts | ' | ||||||||
Recoverable Value-Added Taxes (IVA) and Allowance for Doubtful Accounts | |||||||||
Impuesto al Valor Agregado taxes (IVA) are recoverable value-added taxes charged by the Mexican government on goods sold and services rendered at a rate of 16%. Under certain circumstances, these taxes are recoverable by filing a tax return and as allowed by the Mexican taxing authority. | |||||||||
Each period, receivables are reviewed for collectability. When a receivable has doubtful collectability we allow for the receivable until we are either assured of collection (and reverse the allowance) or assured that a write-off is necessary. | |||||||||
Our allowance in association with our receivable from IVA from our Mexico subsidiaries is based on our determination that the Mexican government may not allow the complete refund of these taxes. | |||||||||
31-Dec-13 | 31-Dec-12 | ||||||||
Allowance - recoverable value-added taxes | $ | 1,597,407 | $ | 1,579,129 | |||||
Allowance - other receivables | 348,433 | 321,428 | |||||||
Total | $ | 1,945,840 | $ | 1,900,557 | |||||
Bad debt expense was $178,468 and $836,959 at December 31, 2013 and 2012, respectively. | |||||||||
Property, Plant, Equipment, Mine Development and Land | ' | ||||||||
Property, Plant, Equipment, Mine Development and Land | |||||||||
Mining concessions and acquisitions, exploration and development costs relating to mineral properties with proven reserves are deferred until the properties are brought into production, at which time they will be amortized on the unit of production method based on estimated recoverable reserves. If it is determined that the deferred costs related to a property are not recoverable over its productive life, those costs will be written down to fair value as a charge to operations in the period in which the determination is made. The amounts at which mineral properties and the related deferred costs are recorded do not necessarily reflect present or future values. | |||||||||
The recoverability of the book value of each property is assessed annually for indicators of impairment such as adverse changes to any of the following: | |||||||||
• | estimated recoverable ounces of copper, lead, zinc, silver or other precious minerals | ||||||||
• | estimated future commodity prices | ||||||||
• | estimated expected future operating costs, capital expenditures and reclamation expenditures | ||||||||
A write-down to fair value is recorded when the expected future cash flow is less than the net book value of the property or when events or changes in the property indicate that carrying amounts are not recoverable. This analysis is completed as needed, and at least annually. As of the date of this filing no events have occurred that would require the write-down of any assets. In addition, the carrying amounts of the Company's mining properties are reviewed at each balance sheet date to determine whether there is any indication of impairment. If such indication of impairment exists, the asset's recoverable amount will be reduced to its estimated fair value. As of December 31, 2013 and 2012, respectively, no indications of impairment existed. | |||||||||
Certain mining plant and equipment included in mine development and infrastructure is depreciated on a straight-line basis over their estimated useful lives from 3 - 10 years. Other non-mining assets are recorded at cost and depreciated on a straight-line basis over their estimated useful lives from 3 - 10 years. | |||||||||
Financial and Derivative Instruments | ' | ||||||||
Financial and Derivative Instruments | |||||||||
The Company periodically enters into financial instruments. Upon entry, each instrument is reviewed for debt or equity treatment. In the event that the debt or equity treatment is not readily apparent, FASB ASC 480-10-S99 is consulted for temporary treatment. Once an event takes place that removes the temporary element the Company appropriately reclassifies the instrument to debt or equity. | |||||||||
The Company periodically assesses its financial and equity instruments to determine if they require derivative accounting. Instruments which may potentially require derivative accounting are conversion features of debt, equity, and common stock equivalents in excess of available authorized common shares, and contracts with variable share settlements. In the event of derivative treatment, we mark the instrument to market. | |||||||||
Revenue Recognition | ' | ||||||||
Revenue Recognition | |||||||||
Revenue from the sale of concentrate and industrial metals will be recognized when ownership passes to the purchaser at which time the following conditions are met: | |||||||||
i) | persuasive evidence that an agreement exists; | ||||||||
ii) | the risks and rewards of ownership pass to the purchaser including delivery of the product; | ||||||||
iii) | the selling price is fixed and determinable; or, | ||||||||
iv) | collectivity is reasonably assured. | ||||||||
Reclamation and Remediation Costs (asset retirement obligations) | ' | ||||||||
Reclamation and Remediation Costs (asset retirement obligations) | |||||||||
Reclamation costs are allocated to expense over the life of the related assets and are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation and abandonment costs. | |||||||||
Future remediation costs for reprocessing plant and buildings are accrued based on management's best estimate, at the end of each period, of the undiscounted costs expected to be incurred at a site. Such cost estimates include, where applicable, ongoing remediation, maintenance and monitoring costs. Changes in estimates are reflected in earnings in the period an estimate is revised. There were no reclamation and remediation costs accrued as of December 31, 2013 or 2012. | |||||||||
Exploration Expenses and Technical Data | ' | ||||||||
Exploration Expenses and Technical Data | |||||||||
Exploration costs not directly associated with proven reserves on our mining concessions are charged to operations as incurred. | |||||||||
Technical data, including engineering reports, maps, assessment reports, exploration samples certificates, surveys, environmental studies and other miscellaneous information, may be purchased for our mining concessions. When purchased for concessions without proven reserves the cost is considered research and development pertaining to a developing mine and is expensed when incurred. | |||||||||
Income Taxes | ' | ||||||||
Income Taxes | |||||||||
Income taxes are provided for using the asset and liability method of accounting in accordance with the Income Taxes Topic of the FASB ASC. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized by management. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The computation of limitations relating to the amount of such tax assets, and the determination of appropriate valuation allowances relating to the realization of such assets, are inherently complex and require the exercise of judgment. As additional information becomes available, management continually assesses the carrying value of our net deferred tax assets. | |||||||||
Stock Based Compensation | ' | ||||||||
Stock Based Compensation | |||||||||
Stock based compensation is accounted for using the Equity-Based Payments to Non-Employee's Topic of the FASB ASC, which establishes standards for the accounting of transactions in which an entity exchanges its equity instruments for goods or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that are based on the fair value of the entity's equity instruments or that may be settled by the issuance of those equity instruments. We determine the value of stock issued at the date of grant. We also determine, at the date of grant, the value of stock at fair market value or the value of services rendered (based on contract or otherwise), whichever is more readily determinable. | |||||||||
Shares issued to employees are expensed upon issuance. | |||||||||
Stock based compensation for employees is accounted for using the Stock Based Compensation Topic of the FASB ASC. We use the fair value method for equity instruments granted to employees and will use the Black-Scholes model for measuring the fair value of options, if issued. The stock based fair value compensation is determined as of the date of the grant or the date at which the performance of the services is completed (measurement date) and is recognized over the vesting periods. | |||||||||
Comprehensive Gain (Loss) | ' | ||||||||
Comprehensive Gain (Loss) | |||||||||
Total accumulated comprehensive gain (loss) and the components of accumulated other comprehensive gain (loss) are presented in the Consolidated Statements of Shareholders' Equity. Accumulated other comprehensive gain (loss) is composed of foreign currency translation adjustment effects. Gain from discontinued operations per share was $0 and $0.50 in 2013 and 2012, respectively. | |||||||||
Net Loss per Common Share | ' | ||||||||
Net Loss per Common Share | |||||||||
Earnings per share is calculated in accordance with the Earnings per Share Topic of the FASB ASC. The weighted-average number of common shares outstanding during each period is used to compute basic earnings (loss) per share. Diluted earnings per share is computed using the weighted average number of shares plus dilutive potential common shares outstanding. Potentially dilutive common shares consist of employee stock options, warrants, and other convertible securities, and are excluded from the diluted earnings per share computation in periods where the Company has incurred a net loss. During the years ended December 31, 2013 and 2012, respectively, the Company incurred a net loss, resulting in no dilutive common shares. | |||||||||
Recently adopted and recently issued accounting guidance | ' | ||||||||
Recently adopted and recently issued accounting guidance | |||||||||
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income, which is included in ASC 220, Comprehensive Income. This update improves the reporting of reclassification out of accumulated other comprehensive income. The adoption of this accounting standard update became effective for the Company's interim and annual reporting periods beginning January 1, 2013 The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows. | |||||||||
In March 2013, the FASB issued ASU No. 2013-05, Liabilities (Topic 830): Parent's Accounting for Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. This ASU is effective for interim and annual periods beginning after December 15, 2013 and requires the release of any cumulative translation adjustment into net income upon derecognition of certain subsidiaries or groups of assets within a foreign entity or of an investment in foreign entity. Management does not anticipate that the accounting pronouncement will have any material future effect on our consolidated financial statements. | |||||||||
In July 2013, FASB issued ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This ASU is effective for interim and annual periods beginning after December 15, 2013. This update standardizes the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Management does not anticipate that the accounting pronouncement will have any material future effect on our consolidated financial statements. | |||||||||
Recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force) and the SEC, did not, or are not believed by management to, have a material impact on the Company's present or future financial position, results of operations or cash flows. |
Basis_of_Presentation_and_Orga2
Basis of Presentation and Organization and Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Basis of Presentation and Organization and Significant Accounting Policies [Abstract] | ' | ||||||||
Summary of Exchange Rates | ' | ||||||||
Relevant exchange rates used in the preparation of the financial statements for the AMM and ACM are as follows for the year ended December 31, 2013 and 2012. Mexican pesos per one U.S. dollar: | |||||||||
31-Dec-13 | |||||||||
Current exchange rate | Ps. | 13.0652 | |||||||
Weighted average exchange rate for the year ended | Ps. | 12.5439 | |||||||
31-Dec-12 | |||||||||
Current exchange rate | Ps. | 12.9880 | |||||||
Weighted average exchange rate for the year ended | Ps. | 12.8204 | |||||||
Schedule of Allowances of Receivables | ' | ||||||||
31-Dec-13 | 31-Dec-12 | ||||||||
Allowance - recoverable value-added taxes | $ | 1,597,407 | $ | 1,579,129 | |||||
Allowance - other receivables | 348,433 | 321,428 | |||||||
Total | $ | 1,945,840 | $ | 1,900,557 |
Assets_Held_for_Disposal_net_T
Assets Held for Disposal, net (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Assets Held for Disposal, net [Abstract] | ' | ||||||||||||
Schedule of Total Assets Held for Disposal, Net | ' | ||||||||||||
Total assets held for disposal, net as of December 31, 2013 and 2012 are the following: | |||||||||||||
Mining Concession | Outstanding Debt | Total Assets Held for | |||||||||||
31-Dec-13 | Disposal, net | ||||||||||||
Pirita Prospect | $ | 250,000 | $ | (174,000 | ) | $ | 76,000 | ||||||
Las Viboras Dos Prospect | 188,094 | (234,832 | ) | (46,738 | ) | ||||||||
$ | 438,094 | $ | (408,832 | ) | $ | 29,262 | |||||||
Mining Concession | Outstanding Debt | Total Assets Held for | |||||||||||
31-Dec-12 | Disposal, net | ||||||||||||
Pirita Prospect | $ | 250,000 | $ | (174,000 | ) | $ | 76,000 | ||||||
Las Viboras Dos Prospect | 188,094 | (234,832 | ) | (46,738 | ) | ||||||||
$ | 438,094 | $ | (408,832 | ) | $ | 29,262 |
Property_Plant_Equipment_Mine_1
Property, Plant, Equipment, Mine Development, Land and Construction in Progress, net (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Property, Plant and Equipment [Line Items] | ' | ||||||||||||
Schedule of Property, Plant, Equipment, Mine Development, Land and Construction in Progress | ' | ||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||
Land | $ | 19,590 | $ | 19,590 | |||||||||
Mining concessions: | |||||||||||||
Pilar (a) | 710,172 | 710,172 | |||||||||||
Don Roman | 521,739 | 521,739 | |||||||||||
Las Nuvias | 100,000 | 100,000 | |||||||||||
Centenario | 635,571 | 635,571 | |||||||||||
La Palma | 80,000 | 80,000 | |||||||||||
La Verde | 60,000 | 60,000 | |||||||||||
Champinon (b) | - | 2,153,693 | |||||||||||
Dixie Mining District (c) | 650,000 | - | |||||||||||
Picacho Groupings (See Note 13) | 1,571,093 | - | |||||||||||
Mining concessions | 4,328,575 | 4,261,175 | |||||||||||
Construction in progress | - | 269,244 | |||||||||||
Property, plant and equipment | 4,142,245 | 3,786,947 | |||||||||||
8,490,410 | 8,336,956 | ||||||||||||
Less - accumulated depreciation | (1,145,991 | ) | (836,184 | ) | |||||||||
$ | 7,344,419 | $ | 7,500,772 | ||||||||||
Pilar, Don Roman, Las Nuvias, Centenario, La Palma and La Verde properties are geographically located in Mexico and are known as the Don Roman Groupings. | |||||||||||||
The Picacho and Picacho Fractions are geographically located in Mexico and are known as the Picacho Groupings. | |||||||||||||
a. | In January 2007, the Company acquired the Pilar de Mocoribo Prospect ("Pilar") from Tara Gold Resources Corp. for $739,130 plus $115,737 of value-added tax (as amended). The Company owes $535,659 for this mining concession (including the applicable value-added tax). | ||||||||||||
In accordance with the Interest Topic of FASB ASC, the future payments of the total payment amount of $739,130 have been discounted using the incremental borrowing rate of 5.01%. As of December 31, 2013, the present value of future payments is as follows: | |||||||||||||
Debt | IVA | Total | |||||||||||
Total remaining debt | $ | 486,739 | $ | 77,878 | $ | 564,617 | |||||||
Imputed interest | (28,959 | ) | - | (28,959 | ) | ||||||||
Present value of debt | $ | 457,780 | $ | 77,878 | $ | 535,658 | |||||||
b. | In September 2011, the Company leased the Mina El Champinon Iron Ore Project ("Champinon") in exchange for royalty payments based on production. From September 2011 to April 2012, the Company paid $235,000, plus $38,000 in value-added taxes in advances against royalty payments. | ||||||||||||
In May, 2012, the Company terminated the lease agreement for Champinon and entered into a new agreement to acquire the Iron Ore Project for an effective purchase price of $2,175,000, plus $348,000 in value-added taxes. The advances against royalty payments made before the lease agreement was terminated were applied against the effective purchase of the Iron Ore Project. | |||||||||||||
In 2012, the Company purchased technical data pertaining to Champinon from the former owner for 500,000 shares of Tara Minerals' common stock, valued at $430,000 and $250,000 cash. | |||||||||||||
On March 15, 2013, a Settlement Agreement and Release ("settlement agreement") was entered into by and among the Company, Jeffrey Holt, Tom Claridge, Steve Eady, Carnegie Mining and Exploration, Inc. ("CMEI"), CME Operations, LLC ("CME")(CMEI and CME, referred to as "Carnegie"), Harsco Corporation, and Pittsburgh Mineral & Environmental Technology, Inc. In exchange for Carnegie's acknowledgement that it has no rights under a previously granted option on the Don Roman Groupings, the Company assigned its Champinon mining rights purchase contract, including all related obligations and acquisition payments, to Plathio Trading Mexico, SA de CV, Carnegie's Mexican subsidiary, and the Company agreed to issue to Carnegie 500,000 restricted shares of Tara Minerals' common stock, which may not be sold until the earlier of: (i) Tara Minerals' shares reaching a minimum trading price of $1.00 per share; or (ii) two years from the date of the settlement agreement. Under the settlement agreement for the Champinon property, the Company retains mining and beneficial rights to known silver, zinc, and led vein structure present on the Champinon concession. On March 22, 2013, the 500,000 restricted shares were issued valued at $150,000. The settlement agreement confirms Carnegie's acknowledgement of the Company's 100% ownership of the Don Roman Groupings. | |||||||||||||
Per the settlement agreement dated March 15, 2013, the Company retained ownership of 14 hectares of the Champinon mining concession which the Company valued at $203,000. As of December 2013, the Company was notified of a default of the purchase contract by non-performance of Carnegie; the Company concluded that at this time the probability of retaining claim on the 14 hectares of the Champinon mining concession is remote and therefore removed the mining concession from its books and recognized it as an additional loss on the settlement agreement. | |||||||||||||
The Company recognized a total loss of $1,064,996 on the settlement agreement mentioned above. | |||||||||||||
c. | During 2013, the Company acquired the Black Diamond and Ontario prospects in the Dixie Mining District from an unrelated third party for $650,000. Management internally calls this the Ponderosa Project in the Dixie Mining District. The Dixie Mining District is located in the state of Idaho in the U.S. The purchase price was paid in full in 2013. The land package consists of 6,741 acres consisting of both patented and unpatented mining claims. | ||||||||||||
The former owner of the prospects is entitled to receive royalties upon all ore, mineral-bearing rock and other deposits extracted and shipped or milled, treated, and sold from the property in the amount of 3% of the net smelter or mill returns earned from the property prior to December 31, 2014. The royalty agreement provides that the payment of the royalty will terminate upon the independent third party receiving $558,160. If the former owner has not received that amount in royalty payments as of December 31, 2014, the Company is required to pay the difference, if any, between the $558,160 and the amount of royalties received from the Company. No royalty is owed to the former owner if mining on the property is not yet economically feasible. As of April 14, 2014 based on the amount of exploration conducted it is not yet economically feasible and no royalty payments have been paid. | |||||||||||||
Schedule of Note Payable Instruments | ' | ||||||||||||
In accordance with the Interest Topic of FASB ASC, the future payments of the total payment amount of $739,130 have been discounted using the incremental borrowing rate of 5.01%. As of December 31, 2013, the present value of future payments is as follows: | |||||||||||||
Debt | IVA | Total | |||||||||||
Total remaining debt | $ | 486,739 | $ | 77,878 | $ | 564,617 | |||||||
Imputed interest | (28,959 | ) | - | (28,959 | ) | ||||||||
Present value of debt | $ | 457,780 | $ | 77,878 | $ | 535,658 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income taxes [Abstract] | ' | ||||||||||||
Summary of Income Tax Benefit | ' | ||||||||||||
The December 31, 2013 and since inception income tax benefit, net of tax associated with discontinued operations, is as follows: | |||||||||||||
U.S. Companies | Mexico Companies | Total | |||||||||||
Current asset (liability) - total | $ | - | $ | - | $ | - | |||||||
Deferred asset (liability) - total | 7,309,000 | 2,478,000 | 9,787,000 | ||||||||||
Valuation allowance | (7,309,000 | ) | (2,478,000 | ) | (9,787,000 | ) | |||||||
Income tax benefit, since inception | $ | - | $ | - | $ | - | |||||||
Summary of Deferred Tax Assets and Deferred Tax Liabilities | ' | ||||||||||||
At December 31, 2013, total deferred tax assets and deferred tax liabilities are as follows: | |||||||||||||
U.S. Companies | Mexico Companies | Total | |||||||||||
Deferred tax asset - current | $ | 4,456,000 | $ | - | $ | 4,456,000 | |||||||
Deferred tax asset - non-current portion | 2,853,000 | 2,478,000 | 5,331,000 | ||||||||||
Total deferred tax asset | 7,309,000 | 2,478,000 | 9,787,000 | ||||||||||
Deferred tax liability - current | - | - | - | ||||||||||
Deferred tax liability - non current | - | - | - | ||||||||||
Total deferred tax liability | - | - | - | ||||||||||
Valuation allowance | (7,309,000 | ) | (2,478,000 | ) | (9,787,000 | ) | |||||||
Net deferred tax asset (liability) | $ | - | $ | - | $ | - | |||||||
Summary of Operating Loss Carryforward Expirations | ' | ||||||||||||
Net operating losses expire as follows: | |||||||||||||
U.S. Companies | Mexico Companies | Total | |||||||||||
31-Dec-30 | $ | 7,600,000 | $ | 3,701,000 | $ | 11,301,000 | |||||||
31-Dec-31 | 2,366,000 | 1,853,000 | 4,219,000 | ||||||||||
31-Dec-32 | - | 1,459,000 | 1,459,000 | ||||||||||
31-Dec-33 | 336,000 | 1,186,000 | 1,522,000 | ||||||||||
Total net operating loss | $ | 10,302,000 | $ | 8,199,000 | $ | 18,501,000 | |||||||
Reconciliation of Effective Income Tax Rate | ' | ||||||||||||
Reconciliation of the differences between the statuary tax rate and the effective income tax rate is as follows: | |||||||||||||
2013 | |||||||||||||
Amount | Percentage | ||||||||||||
Tax at statutory federal rate | $ | (783,000 | ) | (35.0 | %) | ||||||||
Temporary differences | |||||||||||||
Exploration cost - current | 50,000 | 2.2 | % | ||||||||||
Exploration cost - non-current | 425,000 | 19 | % | ||||||||||
Stock based compensation | 21,000 | 0.9 | % | ||||||||||
Decrease in deferred tax asset due to re-acquisition of ACM | 6,284,000 | 280.8 | % | ||||||||||
Valuation allowance for U.S. Companies | (424,000 | ) | (18.9 | %) | |||||||||
Valuation allowance for Mexico | 711,000 | 31.8 | % | ||||||||||
Tax provision at effective rate | $ | 6,284,000 | 280.8 | % |
Notes_Payable_and_Convertible_1
Notes Payable and Convertible Note Payable, net (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Notes Payable and Convertible Note Payable, net [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Notes Payable | ' | ||||||||||||||||||||||||
The following table represents the outstanding balance of notes payable. | |||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Mining concession | $ | - | $ | 1,622,027 | |||||||||||||||||||||
Auto loans | 66,619 | 63,792 | |||||||||||||||||||||||
Convertible note payable, net | 75,652 | - | |||||||||||||||||||||||
142,271 | 1,685,819 | ||||||||||||||||||||||||
Less - current portion | (38,614 | ) | (964,288 | ) | |||||||||||||||||||||
Less - current portion convertible note payable, net | (75,652 | ) | - | ||||||||||||||||||||||
Total - non-current portion | $ | 28,005 | $ | 721,531 | |||||||||||||||||||||
Five Year Maturity Schedule for Notes Payable | ' | ||||||||||||||||||||||||
The five year maturity schedule for notes payable and convertible notes payable, net is presented below: | |||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Total | ||||||||||||||||||||
Auto Loans | $ | 38,614 | $ | 12,315 | $ | 5,892 | $ | 6,120 | $ | 3,678 | $ | 66,619 | |||||||||||||
Convertible note payable, net | 75,652 | - | - | - | - | 75,652 | |||||||||||||||||||
Total | $ | 114,266 | $ | 12,315 | $ | 5,892 | $ | 6,120 | $ | 3,678 | $ | 142,271 |
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Related Party Transactions [Abstract] | ' | ||||||||
Schedule of Related Party Transactions | ' | ||||||||
31-Dec-13 | 31-Dec-12 | ||||||||
Due from related parties | $ | 221,592 | $ | 970,300 | |||||
Due to related parties | -1,739,207 | -1,741,682 | |||||||
$ | -1,517,615 | $ | -771,382 |
Noncontrolling_Interest_Tables
Non-controlling Interest (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Non-controlling Interest [Abstract] | ' | ||||||||
Summary of Non-controlling Interests | ' | ||||||||
Cumulative results of these activities results in: | |||||||||
31-Dec-13 | 31-Dec-12 | ||||||||
Common stock for cash | $ | 1,999,501 | $ | 1,999,501 | |||||
Common stock for services | 95,215 | 95,215 | |||||||
Exploration expenses paid for in subsidiary common stock | 240,000 | 240,000 | |||||||
Stock based compensation | 1,374,880 | 1,374,880 | |||||||
Cumulative net loss attributable to non-controlling interest | (15,815 | ) | 31,938 | ||||||
Treasury stock | (500,000 | ) | (500,000 | ) | |||||
Other | 6 | 6 | |||||||
Total non-controlling interest | $ | 3,193,787 | $ | 3,241,540 | |||||
A summary of activity as of December 31, 2013 and changes during the period then ended is presented below: | |||||||||
Non-controlling interest at December 31, 2011 | $ | 2,827,213 | |||||||
Officer stock based compensation | 429,924 | ||||||||
Net income attributable to non-controlling interest | 484,407 | ||||||||
Treasury stock | (500,000 | ) | |||||||
Other | (4 | ) | |||||||
Non-controlling interest at December 31, 2012 | 3,241,540 | ||||||||
Net income attributable to non-controlling interest | (47,753 | ) | |||||||
Non-controlling interest at December 31, 2013 | $ | 3,193,787 |
Options_and_Warrants_Tables
Options and Warrants (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Options and Warrants [Abstract] | ' | ||||||||||||||||
Summary of Fair Value Assumptions | ' | ||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||
Expected volatility | 218.84% | 104.82% - 131.10% | |||||||||||||||
Weighted-average volatility | 218.84% | 117.96% | |||||||||||||||
Expected dividends | 0 | 0 | |||||||||||||||
Expected term (in years) | 2 | 1 | |||||||||||||||
Risk-free rate | 0.22% | 0.05% - 0.14% | |||||||||||||||
Summary of Option Activity | ' | ||||||||||||||||
A summary of option activity under the plans as of December 31, 2013 and changes during the period then ended is presented below: | |||||||||||||||||
Options | Shares | Weighted- | Weighted-Average | Aggregate | |||||||||||||
Average | Remaining | Intrinsic | |||||||||||||||
Exercise Price | Contractual Term | Value | |||||||||||||||
Outstanding at December 31, 2011 | 3,350,000 | $ | 0.69 | 3 | $ 1,408,500 | ||||||||||||
Granted | 200,000 | 0.05 | |||||||||||||||
Exercised | (200,000 | ) | 0.05 | ||||||||||||||
Forfeited, expired or cancelled | (600,000 | ) | - | ||||||||||||||
Outstanding at December 31, 2012 | 2,750,000 | $ | 0.34 | 3 | $ 1,000,000 | ||||||||||||
Granted | 750,000 | 0.25 | |||||||||||||||
Exercised | - | - | |||||||||||||||
Forfeited, expired or cancelled | (750,000 | ) | 0.48 | ||||||||||||||
Outstanding at December 31, 2013 | 2,750,000 | $ | 0.24 | 3 | $ | 210,000 | |||||||||||
Exercisable at December 31, 2013 | 2,340,000 | $ | 0.3 | 3 | $ | 210,000 | |||||||||||
Non-vested Options | Options | Weighted-Average | |||||||||||||||
Grant-Date Fair Value | |||||||||||||||||
Non-vested at December 31, 2011 | 1,010,000 | $ | 1.08 | ||||||||||||||
Granted | 200,000 | 0.05 | |||||||||||||||
Vested | (450,000 | ) | 0.32 | ||||||||||||||
Forfeited, expired or cancelled | (600,000 | ) | - | ||||||||||||||
Non-vested at December 31, 2012 | 160,000 | $ | 0.48 | ||||||||||||||
Granted | 750,000 | 0.25 | |||||||||||||||
Vested | (340,000 | ) | 0.25 | ||||||||||||||
Forfeited, expired or cancelled | (160,000 | ) | 0.48 | ||||||||||||||
Non-vested at December 31, 2013 | 410,000 | $ | 0.37 | ||||||||||||||
Summary of Warrant Activity | ' | ||||||||||||||||
A summary of warrant activity as of December 31, 2013 and 2012, and changes during the period then ended is presented below: | |||||||||||||||||
Warrants | Shares | Weighted-Average | Weighted-Average | Aggregate | |||||||||||||
Exercise Price | Remaining | Intrinsic | |||||||||||||||
Contractual Term | Value | ||||||||||||||||
Outstanding at December 31, 2011 | 7,393,081 | $ | 0.89 | ||||||||||||||
Granted | 594,000 | 1 | |||||||||||||||
Exercised | (125,000 | ) | 0.4 | ||||||||||||||
Forfeited, expired or cancelled | (5,073,748 | ) | 0.51 | ||||||||||||||
Outstanding at December 31, 2012 | 2,788,333 | $ | 1.38 | 1 | $ | - | |||||||||||
Granted | - | - | |||||||||||||||
Exercised | - | - | |||||||||||||||
Forfeited, expired or cancelled | (2,788,333 | ) | (1.38 | ) | |||||||||||||
Outstanding at December 31, 2013 | - | $ | - | - | $ | - | |||||||||||
Exercisable at December 31, 2013 | - | $ | - | - | $ | - | |||||||||||
Fair_Value_Tables
Fair Value (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value [Abstract] | ' | ||||||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value | ' | ||||||||||||||||
Fair Value at December 31, 2013 | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Fair market value of ACM's net identifiable assets | $ | 1,589,000 | $ | - | $ | - | $ | 1,589,000 | |||||||||
acquired (See Note 13) | |||||||||||||||||
Liabilities: | |||||||||||||||||
Beneficial conversion feature of note payable | $ | 74,348 | $ | 74,348 | $ | - | $ | - | |||||||||
(See Note 6) | |||||||||||||||||
Fair Value at December 31, 2012 | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
None | $ | - | $ | - | $ | - | $ | - | |||||||||
Liabilities: | |||||||||||||||||
Iron Ore Properties financial instrument, net | $ | 600,000 | $ | - | $ | (200,000 | ) | $ | 800,000 | ||||||||
(See Note 8) | |||||||||||||||||
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs | ' | ||||||||||||||||
The following is a reconciliation of the beginning and ending balances for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year ended December 31, 2013: | |||||||||||||||||
Iron Ore Properties | |||||||||||||||||
Financial Instrument | |||||||||||||||||
Beginning balance | $ | 800,00 | |||||||||||||||
Additions | 1,589,000 | ||||||||||||||||
Reductions (conversion of Iron Ore Instrument) | (800,000 | ) | |||||||||||||||
Ending balance | $ | 1,589,000 | |||||||||||||||
The amount of total gains or losses for the year included in earnings attributable to the change in | $ | - | |||||||||||||||
unrealized gains or losses relating to liabilities still held at reporting date | |||||||||||||||||
Reacquisition_of_ACM_Tables
Re-acquisition of ACM (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Re-acquisition of ACM [Abstract] | ' | ||||
Schedule of Assets Acquired and Liabilities Assumed | ' | ||||
The Company calculated the fair value of the assets purchased and liabilities assumed as follows: | |||||
Assets: | 8-May-13 | ||||
Picacho Groupings | $ | 1,571,093 | |||
Improvements (Mine site warehouse) | 18,115 | ||||
Liabilities: | |||||
None | - | ||||
Fair market value of net identifiable assets acquired | 1,589,208 | ||||
Less: Fair value of the consideration transferred for ACM | - | ||||
Add: Release of Adit's tax liability due to the termination of the purchase | 1,900,763 | ||||
Value of assigned gain on bargain acquisition of ACM | $ | 3,489,971 |
Basis_of_Presentation_and_Orga3
Basis of Presentation and Organization and Significant Accounting Policies (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Nature Of Business And Significant Accounting Policies [Line Items] | ' | ' |
Current exchange rate | 13.0652 | 12.988 |
Weighted average exchange rate for the three months ended | 12.5439 | 12.8204 |
Maximum FDIC insurable balance per account | $250,000 | ' |
Number of bank accounts in excess of the FDIC insurable limit | 2 | ' |
Foreign value-added tax rate | 16.00% | ' |
Allowance | 1,945,840 | 1,900,557 |
Bad debt expense | 178,468 | 836,959 |
Gain from discontinued operations per share | $0 | $0.50 |
Mining plant and equipment [Member] | Minimum [Member] | ' | ' |
Nature Of Business And Significant Accounting Policies [Line Items] | ' | ' |
Property,plant and equipment, estimated useful lives | '3 years | ' |
Mining plant and equipment [Member] | Maximum [Member] | ' | ' |
Nature Of Business And Significant Accounting Policies [Line Items] | ' | ' |
Property,plant and equipment, estimated useful lives | '10 years | ' |
Non-mining assets [Member] | Minimum [Member] | ' | ' |
Nature Of Business And Significant Accounting Policies [Line Items] | ' | ' |
Property,plant and equipment, estimated useful lives | '3 years | ' |
Non-mining assets [Member] | Maximum [Member] | ' | ' |
Nature Of Business And Significant Accounting Policies [Line Items] | ' | ' |
Property,plant and equipment, estimated useful lives | '10 years | ' |
Allowance-Recoverable Value-Added Taxes [Member] | ' | ' |
Nature Of Business And Significant Accounting Policies [Line Items] | ' | ' |
Allowance | 1,597,407 | 1,579,129 |
Allowance-Other Receivables [Member] | ' | ' |
Nature Of Business And Significant Accounting Policies [Line Items] | ' | ' |
Allowance | $348,433 | $321,428 |
American Metal Mining S.A. de C.V. [Member] | ' | ' |
Nature Of Business And Significant Accounting Policies [Line Items] | ' | ' |
Interest in subsidiaries | 99.90% | ' |
Adit Resources Corp [Member] | ' | ' |
Nature Of Business And Significant Accounting Policies [Line Items] | ' | ' |
Interest in subsidiaries | 87.00% | ' |
Assets_Held_for_Disposal_net_N
Assets Held for Disposal, net (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 31, 2011 |
Pirita [Member] | Pirita [Member] | Pirita [Member] | Las Viboras Dos [Member] | Las Viboras Dos [Member] | Las Viboras Dos [Member] | Las Viboras Dos [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price of entity | $76,000 | $76,000 | $250,000 | $250,000 | $250,000 | $188,094 | $188,094 | ' | $188,094 |
Consideration paid with cash | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' |
Value added tax consideration at acquisition of entity | ' | ' | 30,000 | ' | ' | ' | ' | ' | 30,095 |
Debt instrument, face amount | 150,000 | ' | 230,000 | ' | ' | ' | ' | ' | ' |
Notes payable | 142,271 | 1,685,819 | ' | 174,000 | ' | ' | ' | 234,832 | ' |
Assets held for disposal | $29,262 | $29,262 | ' | $76,000 | $76,000 | ($46,738) | ($46,738) | ' | ' |
Assets_Held_for_Disposal_net_S
Assets Held for Disposal, net (Schedule of Total Assets Held for Disposal, Net) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 31, 2011 |
Pirita [Member] | Pirita [Member] | Pirita [Member] | Las Viboras Dos [Member] | Las Viboras Dos [Member] | Las Viboras Dos [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Mining Concession | $76,000 | $76,000 | $250,000 | $250,000 | $250,000 | $188,094 | $188,094 | $188,094 |
Outstanding Debt | -46,738 | -46,738 | -174,000 | -174,000 | ' | -234,832 | -234,832 | ' |
Total Assets Held for Disposal, net | $29,262 | $29,262 | $76,000 | $76,000 | ' | ($46,738) | ($46,738) | ' |
Property_Plant_Equipment_Mine_2
Property, Plant, Equipment, Mine Development, Land and Construction in Progress, net (Schedule of Property, Plant, Equipment, Mine Development, Land and Construction in Progress) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Construction in progress | ' | $269,244 |
Property, plant, equipment, mine development, land and construction in progress | 8,490,410 | 8,336,956 |
Less - accumulated depreciation | -1,145,991 | -836,184 |
Property, plant, equipment, mine development, land and construction in progress, net, total | 7,344,419 | 7,500,772 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, equipment, mine development, land and construction in progress | 19,590 | 19,590 |
Mine Development [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, equipment, mine development, land and construction in progress | 4,328,575 | 4,261,175 |
Pilar [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, equipment, mine development, land and construction in progress | 710,172 | 710,172 |
Dixie Mining District [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, equipment, mine development, land and construction in progress | 650,000 | ' |
Don Roman [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, equipment, mine development, land and construction in progress | 521,739 | 521,739 |
Las Nuvias [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, equipment, mine development, land and construction in progress | 100,000 | 100,000 |
Centenario [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, equipment, mine development, land and construction in progress | 635,571 | 635,571 |
La Palma [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, equipment, mine development, land and construction in progress | 80,000 | 80,000 |
La Verde [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, equipment, mine development, land and construction in progress | 60,000 | 60,000 |
Picacho Fractions [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, equipment, mine development, land and construction in progress | 1,571,093 | ' |
Champinon [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, equipment, mine development, land and construction in progress | ' | ' |
Property, Plant and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant, equipment, mine development, land and construction in progress | $4,142,245 | $3,786,947 |
Property_Plant_Equipment_Mine_3
Property, Plant, Equipment, Mine Development, Land and Construction in Progress, net (Narrative) (Details) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||
Mar. 22, 2013 | Dec. 31, 2013 | Oct. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Feb. 28, 2013 | Mar. 31, 2012 | Mar. 31, 2013 | Dec. 31, 2013 | Oct. 31, 2008 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 31, 2007 | Dec. 31, 2013 | 31-May-12 | Dec. 31, 2013 | Sep. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | |
Debt [Member] | IVA [Member] | Pilar [Member] | Pilar [Member] | Mina El Champinon [Member] | Mina El Champinon [Member] | Mina El Champinon [Member] | Dixie Mining District [Member] | Don Roman [Member] | ||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price of entity | ' | $76,000 | ' | ' | ' | ' | ' | ' | $76,000 | ' | $76,000 | ' | ' | $739,130 | ' | $2,175,000 | ' | $235,000 | $650,000 | ' |
Consideration paid by subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115,737 | ' | ' | ' | ' | ' | ' |
Value added tax consideration at acquisition of entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 348,000 | ' | 38,000 | ' | ' |
Note payable amount | ' | 150,000 | ' | ' | ' | ' | ' | ' | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes payable | ' | 142,271 | ' | ' | ' | ' | ' | ' | 142,271 | ' | 1,685,819 | 457,780 | 77,878 | ' | 535,659 | ' | ' | ' | ' | ' |
Long-term debt, total future payments | ' | 142,271 | ' | ' | ' | ' | ' | ' | 142,271 | ' | ' | ' | ' | 739,130 | ' | ' | ' | ' | ' | ' |
Incremental borrowing rate used to calculate discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.01% | ' | ' | ' | ' | ' | ' |
Shares issued for technical data | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | ' | ' | ' | ' |
Common stock issued for technical data | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | 430,000 | ' | ' | ' | ' |
Price per unit | ' | $0.24 | $0.27 | $0.20 | $0.30 | $0.36 | $0.50 | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of concession | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 203,000 | ' | ' | ' |
Loss on settlement | ' | ' | ' | ' | ' | ' | ' | ' | -1,064,996 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% |
Shares issued in consideration of transfer agreement | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued in consideration of transfer agreement value | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum market stock price triggering option to sell stock | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalties payable, percent of net smelter or mill returns | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' |
Minimum Royalty Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $558,160 | ' |
Property_Plant_Equipment_Mine_4
Property, Plant, Equipment, Mine Development, Land and Construction in Progress, net (Schedule of Note Payable Instruments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Present value of future payments: | ' | ' |
Total remaining debt | $46,738 | $46,738 |
Present value of debt | 142,271 | 1,685,819 |
Pilar [Member] | ' | ' |
Present value of future payments: | ' | ' |
Present value of debt | 535,659 | ' |
Debt [Member] | ' | ' |
Present value of future payments: | ' | ' |
Total remaining debt | 486,739 | ' |
Imputed interest | -28,959 | ' |
Present value of debt | 457,780 | ' |
IVA [Member] | ' | ' |
Present value of future payments: | ' | ' |
Total remaining debt | 77,878 | ' |
Imputed interest | ' | ' |
Present value of debt | 77,878 | ' |
Total [Member] | ' | ' |
Present value of future payments: | ' | ' |
Total remaining debt | 564,617 | ' |
Imputed interest | -28,959 | ' |
Present value of debt | $535,658 | ' |
Property_Plant_Equipment_Mine_5
Property, Plant, Equipment, Mine Development, Land and Construction in Progress, net (Other Mining Commitments) (Details) (Tania Iron Ore Project [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Property, Plant and Equipment [Line Items] | ' |
Royalty amount, per tonne of material removed | 7 |
Royalty expense | $100,000 |
Threshold used to determine royalty per tonne | 500,000 |
First 500,000 tonnes removed [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Royalty amount, per tonne of material removed | 6 |
Other_Assets_current_and_noncu1
Other Assets, current and non-current (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Tania Iron Ore Project [Member] | |||
Other Assets [Line Items] | ' | ' | ' |
Purchase price of entity | $76,000 | $76,000 | ' |
Security deposit | 21,684 | 24,581 | ' |
Advances | ' | ' | 100,000 |
Payment towards property improvements | ' | ' | 175,000 |
Prepaid expenses | $114,425 | $54,020 | ' |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Income Taxes [Line Items] | ' |
Deferred tax benefit, in U.S. | ($6,284,000) |
American Copper Mining S.A. de C.V. [Member] | ' |
Income Taxes [Line Items] | ' |
Net operating loss, in Mexico | 59,000 |
Deferred tax benefit, in Mexico | 18,000 |
American Metal Mining S.A. de C.V. [Member] | ' |
Income Taxes [Line Items] | ' |
Net operating loss, in Mexico | 8,200,000 |
Deferred tax benefit, in Mexico | $2,460,000 |
Income_Taxes_Summary_of_Income
Income Taxes (Summary of Income Tax Benefit) (Details) (USD $) | 12 Months Ended | 92 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Income Taxes [Line Items] | ' | ' | ' |
Deferred asset (liability) - total | $9,787,000 | ' | $9,787,000 |
Valuation allowance | -9,787,000 | ' | -9,787,000 |
Income Tax Expense (Benefit), Total | 6,284,000 | -727,000 | -959,000 |
U.S. Companies [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Current asset (liability) - total | ' | ' | ' |
Deferred asset (liability) - total | 7,309,000 | ' | 7,309,000 |
Valuation allowance | -7,309,000 | ' | -7,309,000 |
Income Tax Expense (Benefit), Total | ' | ' | ' |
Mexico Companies [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Current asset (liability) - total | ' | ' | ' |
Deferred asset (liability) - total | 2,478,000 | ' | 2,478,000 |
Valuation allowance | -2,478,000 | ' | -2,478,000 |
Income Tax Expense (Benefit), Total | ' | ' | ' |
Income_Taxes_Summary_of_Deferr
Income Taxes (Summary of Deferred Tax Assets and Deferred Tax Liabilities) (Details) (USD $) | Dec. 31, 2013 |
Income Taxes [Line Items] | ' |
Deferred tax asset - current | $4,456,000 |
Deferred tax asset - non-current | 5,331,000 |
Deferred asset (liability) - total | 9,787,000 |
Deferred tax liability - current | ' |
Deferred tax liability - non current | ' |
Deferred tax liability | ' |
Valuation allowance | -9,787,000 |
Net deferred tax asset (liability) | ' |
U.S. Companies [Member] | ' |
Income Taxes [Line Items] | ' |
Deferred tax asset - current | 4,456,000 |
Deferred tax asset - non-current | 2,853,000 |
Deferred asset (liability) - total | 7,309,000 |
Deferred tax liability - current | ' |
Deferred tax liability - non current | ' |
Deferred tax liability | ' |
Valuation allowance | -7,309,000 |
Net deferred tax asset (liability) | ' |
Mexico Companies [Member] | ' |
Income Taxes [Line Items] | ' |
Deferred tax asset - current | ' |
Deferred tax asset - non-current | 2,478,000 |
Deferred asset (liability) - total | 2,478,000 |
Deferred tax liability - current | ' |
Deferred tax liability - non current | ' |
Deferred tax liability | ' |
Valuation allowance | -2,478,000 |
Net deferred tax asset (liability) | ' |
Income_Taxes_Schedule_of_Opera
Income Taxes (Schedule of Operating Loss Carryforward Expirations) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | $18,502,000 |
Operating Loss Carryforward One [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Expiration of operating loss carry forward | 31-Dec-30 |
Net operating loss carryforwards | 11,301,000 |
Operating Loss Carryforward Two [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Expiration of operating loss carry forward | 31-Dec-31 |
Net operating loss carryforwards | 4,219,000 |
Operating Loss Carryforward Three [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Expiration of operating loss carry forward | 31-Dec-32 |
Net operating loss carryforwards | 1,459,000 |
Operating Loss Carryforward Four [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Expiration of operating loss carry forward | 31-Dec-33 |
Net operating loss carryforwards | 1,522,000 |
U.S. Companies [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | 10,302,000 |
U.S. Companies [Member] | Operating Loss Carryforward One [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | 7,600,000 |
U.S. Companies [Member] | Operating Loss Carryforward Two [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | 2,366,000 |
U.S. Companies [Member] | Operating Loss Carryforward Three [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | ' |
U.S. Companies [Member] | Operating Loss Carryforward Four [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | 336,000 |
Mexico Companies [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | 8,199,000 |
Mexico Companies [Member] | Operating Loss Carryforward One [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | 3,701,000 |
Mexico Companies [Member] | Operating Loss Carryforward Two [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | 1,853,000 |
Mexico Companies [Member] | Operating Loss Carryforward Three [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | 1,459,000 |
Mexico Companies [Member] | Operating Loss Carryforward Four [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards | $1,186,000 |
Income_Taxes_Reconciliation_of
Income Taxes (Reconciliation of Effect Income Tax Rate) (Details) (USD $) | 12 Months Ended | 92 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ' | ' | ' |
Statutory Federal tax rate | -35.00% | ' | ' |
Temporary differences | ' | ' | ' |
Exploration cost - current | 2.20% | ' | ' |
Exploration cost - non-current | 19.00% | ' | ' |
Stock based compensation | 0.90% | ' | ' |
Decrease in deferred tax asset due to re-acquisition of ACM | 280.80% | ' | ' |
Tax provision at effective rate | 280.80% | ' | ' |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' |
Statutory federal tax rate | ($783,000) | ' | ' |
Temporary differences | ' | ' | ' |
Exploration cost - current | 50,000 | ' | ' |
Exploration cost - non-current | 425,000 | ' | ' |
Share based compensation | 21,000 | ' | ' |
Decrease in deferred tax asset due to re-acquisition of ACM | 6,284,000 | ' | ' |
Tax provision at effective rate | 6,284,000 | -727,000 | -959,000 |
U.S. Companies [Member] | ' | ' | ' |
Temporary differences | ' | ' | ' |
Valuation allowance | -18.90% | ' | ' |
Temporary differences | ' | ' | ' |
Valuation allowance | -424,000 | ' | ' |
Tax provision at effective rate | ' | ' | ' |
Mexico Companies [Member] | ' | ' | ' |
Temporary differences | ' | ' | ' |
Valuation allowance | 31.80% | ' | ' |
Temporary differences | ' | ' | ' |
Valuation allowance | 711,000 | ' | ' |
Tax provision at effective rate | ' | ' | ' |
Notes_Payable_and_Convertible_2
Notes Payable and Convertible Note Payable, net (Schedule of Notes Payable) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Debt Instrument [Line Items] | ' | ' |
Present value of debt | $142,271 | $1,685,819 |
Less - current portion | -38,614 | -964,288 |
Less - current portion convertible note payable, net | -75,652 | ' |
Total - non-current portion | 28,005 | 721,531 |
Mining Concessions [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Present value of debt | ' | 1,622,027 |
Auto Loans [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Present value of debt | 66,619 | 63,792 |
Convertible note payable, net [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Present value of debt | $75,652 | ' |
Notes_Payable_and_Convertible_3
Notes Payable and Convertible Note Payable, net (Narrative) (Details) (USD $) | 12 Months Ended | 92 Months Ended | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | |
Truck [Member] | Automobile Loan [Member] | Automobile Loan [Member] | Automobile Loan [Member] | |||||
American Metal Mining S.A. de C.V. [Member] | American Metal Mining S.A. de C.V. [Member] | American Metal Mining S.A. de C.V. [Member] | ||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | $142,271 | ' | ' | $142,271 | ' | ' | ' | ' |
Purchase price of entity | 76,000 | 76,000 | ' | 76,000 | ' | ' | ' | ' |
Notes payable | 142,271 | 1,685,819 | ' | 142,271 | 29,038 | ' | 39,796 | 63,793 |
Note payable amount | 150,000 | ' | ' | 150,000 | 31,038 | ' | ' | ' |
Interest rate | 16.00% | ' | ' | 16.00% | 3.74% | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | 31-Aug-18 | ' | ' | ' |
Less - current portion | 38,614 | 964,288 | ' | 38,614 | 26,823 | ' | ' | ' |
Down payment | ' | ' | ' | ' | 2,000 | ' | ' | ' |
Beneficial conversion value for convertible debt and financial instruments | 120,000 | ' | 1,695,000 | 2,015,000 | ' | ' | ' | ' |
Debt conversion, price per share | $0.10 | ' | ' | $0.10 | ' | ' | ' | ' |
Amortization | 45,652 | ' | ' | ' | ' | ' | ' | ' |
Minimum interest rate | ' | ' | ' | ' | ' | 13.50% | ' | ' |
Maximum interest rate | ' | ' | ' | ' | ' | 14.50% | ' | ' |
Debt instrument, beginning maturity date | ' | ' | ' | ' | ' | 1-Aug-14 | ' | ' |
Debt instrument, ending maturity date | ' | ' | ' | ' | ' | 30-Jun-15 | ' | ' |
Interest expense | $254,004 | $15,906 | ' | $2,338,371 | $2,301 | ' | ' | ' |
Notes_Payable_and_Convertible_4
Notes Payable and Convertible Note Payable, net (Five Year Maturity Schedule for Notes Payable) (Details) (USD $) | Dec. 31, 2013 |
Debt Instrument [Line Items] | ' |
2014 | $114,266 |
2015 | 12,315 |
2016 | 5,892 |
2017 | 6,120 |
2018 | 3,678 |
Total | 142,271 |
Auto Loans [Member] | ' |
Debt Instrument [Line Items] | ' |
2014 | 38,614 |
2015 | 12,315 |
2016 | 5,892 |
2017 | 6,120 |
2018 | 3,678 |
Total | 66,619 |
Convertible note payable, net [Member] | ' |
Debt Instrument [Line Items] | ' |
2014 | 75,652 |
2015 | ' |
2016 | ' |
2017 | ' |
2018 | ' |
Total | $75,652 |
Related_Party_Transactions_Sch
Related Party Transactions (Schedule of Related Party Transactions) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Related Party Transactions [Abstract] | ' | ' |
Due from related parties | $221,592 | $970,300 |
Due to related parties | -1,739,207 | -1,741,682 |
Amounts due from (to) related parties | ($1,517,615) | ($771,382) |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 12 Months Ended | 92 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Related Party Transaction [Line Items] | ' | ' | ' |
Debt instrument, face amount | $150,000 | ' | $150,000 |
Due from related parties | 221,592 | 970,300 | 221,592 |
Due to related parties | 1,739,207 | 1,741,682 | 1,739,207 |
Interest rate | 16.00% | ' | 16.00% |
Payment of balance owed on notes payable - related party | ' | 100,000 | 100,000 |
Adit Resources Corp [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Debt instrument, face amount | 5,334,934 | 4,286,663 | 5,334,934 |
Due from related parties | 610,000 | ' | 610,000 |
Debt instrument, variable interest reference rate | 'U.S. prime | ' | ' |
Interest spread on variable rate | 3.25% | ' | ' |
Debt instrument, beginning maturity date | 1-May-14 | ' | ' |
Debt instrument, ending maturity date | 31-Jan-15 | ' | ' |
American Metal Mining S.A. de C.V. [Member] | Amermin [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Debt instrument, face amount | 991,722 | ' | 991,722 |
Interest rate | 0.00% | ' | 0.00% |
American Metal Mining S.A. de C.V. [Member] | Amermin [Member] | Pilar [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Due from related parties | 535,659 | ' | 535,659 |
American Metal Mining S.A. de C.V. [Member] | Amermin [Member] | Don Roman [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Due from related parties | 211,826 | ' | 211,826 |
Tara Gold [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Due from related parties | 111,782 | ' | 111,782 |
Interest rate | 0.00% | ' | 0.00% |
Payment of balance owed on notes payable - related party | $995,976 | ' | ' |
Iron_Ore_Properties_and_Relate1
Iron Ore Properties and Related Financial Instrument (Details) (USD $) | 1 Months Ended | 12 Months Ended | 92 Months Ended | ||
Jan. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
Iron Ore Properties and Related Financial Instrument [Abstract] | ' | ' | ' | ' | ' |
Iron Ore Properties financial instrument | ' | ' | $50,000 | $750,000 | $800,000 |
Beneficial conversion feature, financial instrument | ' | ' | $20,000 | $180,000 | $200,000 |
Financial instrument conversion, aggregate number of shares to be issued | 1,600,000 | ' | ' | ' | ' |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 1 Months Ended | 2 Months Ended | 3 Months Ended | 12 Months Ended | 92 Months Ended | 1 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | Oct. 31, 2013 | Sep. 30, 2013 | Jul. 31, 2013 | Jun. 30, 2013 | Feb. 28, 2013 | Jan. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Apr. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2008 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Oct. 31, 2008 | Oct. 31, 2007 | Dec. 31, 2013 | Apr. 30, 2012 | Jun. 30, 2012 | Apr. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2012 | Jun. 30, 2012 | |
Warrants [Member] | Options [Member] | Unit [Member] | Issuance One [Member] | Issuance Two [Member] | Champinon [Member] | Champinon [Member] | Centenario, La Verde And La Palma [Member] | ||||||||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | 200,000,000 | ' | ' | ' | ' | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | 200,000,000 | 200,000,000 | ' | ' | ' | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value per share | $0.00 | ' | ' | ' | ' | ' | ' | $0.00 | ' | ' | ' | ' | ' | $0.00 | $0.00 | ' | ' | ' | ' | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued for debt conversion, shares | ' | ' | ' | ' | ' | ' | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued for debt conversion, value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,342,440 | $1,750,088 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt conversion, principal amount converted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | ' | ' | ' | ' | ' | ' | 3,109,438 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued for warrants exercised, shares | ' | ' | ' | ' | ' | ' | ' | ' | 125,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from warrant exercises | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued for services rendered, shares | 50,000 | 50,000 | ' | ' | ' | 50,000 | ' | ' | 60,000 | ' | ' | ' | ' | 47,466 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | 100,000 | ' | ' | ' |
Shares issued for services rendered, value | 12,000 | 13,500 | ' | ' | ' | 18,000 | ' | ' | 54,000 | ' | ' | ' | ' | 172,900 | 54,000 | 417,450 | 4,397,209 | 224,475 | ' | 750,000 | ' | ' | ' | ' | 70,000 | 29,000 | 150,000 | ' | ' |
Shares issued for technical data, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | 500,000 | 559,843 |
Shares issued for technical data, value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 430,000 | 1,432,805 |
Units issued in private offering, number of units | 400,000 | 500,000 | 500,000 | 190,000 | ' | ' | ' | ' | ' | ' | 594,000 | ' | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.86 | 2.56 |
Proceeds from issuance of private offering | 24,000 | 100,000 | 100,000 | 30,400 | ' | ' | ' | ' | ' | ' | 297,000 | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant exercise price | 0.06 | 0.2 | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | 0.06 | ' | ' | ' | ' | ' | ' | 0.06 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued for stock option exercise, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' |
Proceeds from stock option exercises | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' |
Shares issued, price per share | $0.24 | $0.27 | $0.20 | ' | $0.30 | $0.36 | ' | ' | ' | ' | $0.50 | ' | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | $0.40 | $0.05 | $0.50 | $0.28 | $0.29 | $0.30 | ' | ' |
Common stock payable, shares | ' | ' | ' | ' | ' | ' | ' | 140,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock payable | ' | ' | ' | ' | ' | ' | ' | 50,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock sold for cash, shares | ' | ' | ' | ' | 4,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock sold for cash | ' | ' | ' | ' | $1,350,000 | ' | ' | ' | ' | ' | ' | $44,000 | ' | ' | ' | $3,008,044 | $2,111,543 | $1,060,001 | $641,500 | $2,540,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial instrument conversion, shares issued | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial instrument conversion, shares remaining to be issued | 1,300,000 | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
NonControlling_Interest_Detail
Non-Controlling Interest (Details) (USD $) | 12 Months Ended | 80 Months Ended | 92 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | |
Non-controlling Interest [Line Items] | ' | ' | ' | ' | ' |
Common stock for cash | ' | ' | $1,999,501 | $1,999,501 | ' |
Common stock for services | ' | ' | 95,215 | 95,215 | ' |
Officer stock based compensation | ' | 429,924 | 1,374,880 | 1,374,880 | ' |
Exploration expenses paid for in subsidiary common stock | ' | ' | 240,000 | 240,000 | ' |
Net income (loss) attributable to non-controlling interest | 47,753 | -484,407 | 31,938 | 15,815 | ' |
Treasury stock | ' | -500,000 | -500,000 | -500,000 | ' |
Other | ' | -4 | 6 | 6 | ' |
Carrying amount of any non-controlling interest | $3,193,787 | $3,241,540 | $3,241,540 | $3,193,787 | $2,827,213 |
Options_and_Warrants_Narrative
Options and Warrants (Narrative) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | Oct. 31, 2013 | Sep. 30, 2013 | Jul. 31, 2013 | Jun. 30, 2013 | Feb. 28, 2013 | Jun. 30, 2012 | Mar. 31, 2012 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Apr. 30, 2012 | Jan. 31, 2010 | Oct. 31, 2009 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2012 | Sep. 30, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | |
Nonqualified Stock Option Plan [Member] | Nonqualified Stock Option Plan [Member] | Nonqualified Stock Option Plan [Member] | Nonqualified Stock Option Plan [Member] | Nonqualified Stock Option Plan [Member] | Service Related Grants [Member] | Service Related Grants [Member] | Service Related Grants [Member] | Service Related Grants [Member] | |||||||||||||
Adit Resources Corp [Member] | Adit Resources Corp [Member] | Adit Resources Corp [Member] | Adit Resources Corp [Member] | ||||||||||||||||||
Class of Warrant or Right [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options granted during the period | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | 750,000 | 200,000 | ' | 1,250,000 | 1,000,000 | ' | ' | ' | ' | 200,000 | ' | ' |
Option exercise price | ' | ' | ' | ' | ' | ' | $0.05 | $1 | ' | $0.25 | ' | ' | $0.05 | $0.05 | ' | ' | ' | ' | $1 | ' | ' |
Value of options vested during period | ' | ' | ' | ' | ' | ' | $110,000 | ' | ' | $59,645 | ' | ' | $2,334,201 | ' | ' | $134,979 | $134,979 | ' | ' | $36,353 | $145,412 |
Options granted, vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '2 years | ' | ' |
Vested options, remaining contractual term | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual vesting rate for options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' |
Units issued in private offering, number of units | 400,000 | 500,000 | 500,000 | 190,000 | ' | ' | ' | 594,000 | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of private offering | 24,000 | 100,000 | 100,000 | 30,400 | ' | ' | ' | 297,000 | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued, price per share | $0.24 | $0.27 | $0.20 | ' | $0.30 | $0.36 | ' | $0.50 | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Strike price of warrants | 0.06 | 0.2 | ' | ' | ' | ' | ' | ' | ' | 0.06 | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $429,924 | ' | ' | ' | ' | ' | ' |
Options_and_Warrants_Summary_o
Options and Warrants (Summary of Fair Value Assumptions) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Options and Warrants [Abstract] | ' | ' |
Expected volatility | 218.84% | ' |
Expected volatility, minimum | ' | 104.82% |
Expected volatility, maximum | ' | 131.10% |
Weighted-average volatility | 218.84% | 117.96% |
Expected dividends | $0 | $0 |
Expected term (in years) | '2 years | '1 year |
Risk-free rate | 0.22% | ' |
Risk-free rate, minimum | ' | 0.05% |
Risk-free rate, maximum | ' | 0.14% |
Options_and_Warrants_Summary_o1
Options and Warrants (Summary of Option Activity) (Details) (USD $) | 1 Months Ended | 12 Months Ended | |||
Jun. 30, 2012 | Apr. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Shares | ' | ' | ' | ' | ' |
Outstanding | ' | ' | 2,750,000 | 3,350,000 | ' |
Granted | 200,000 | ' | 750,000 | 200,000 | ' |
Exercised | ' | -200,000 | ' | -200,000 | ' |
Forfeited, expired or cancelled | ' | ' | -750,000 | -600,000 | ' |
Outstanding | ' | ' | 2,750,000 | 2,750,000 | 3,350,000 |
Exercisable at December 31, 2013 | ' | ' | 2,340,000 | ' | ' |
Weighted-Average Exercise Price | ' | ' | ' | ' | ' |
Outstanding | ' | ' | $0.34 | $0.69 | ' |
Granted | ' | ' | $0.25 | $0.05 | ' |
Exercised | ' | ' | ' | $0.05 | ' |
Forfeited, expired or cancelled | ' | ' | $0.48 | ' | ' |
Outstanding | ' | ' | $0.24 | $0.34 | $0.69 |
Exercisable at December 31, 2013 | ' | ' | $0.30 | ' | ' |
Weighted-Average Remaining Contractual Term | ' | ' | ' | ' | ' |
Outstanding | ' | ' | '3 years | '3 years | '3 years |
Exercisable at December 31, 2013 | ' | ' | '3 years | ' | ' |
Aggregate Intrinsic Value | ' | ' | ' | ' | ' |
Outstanding | ' | ' | $210,000 | $1,000,000 | $1,408,000 |
Exercisable at December 31, 2013 | ' | ' | $210,000 | ' | ' |
Non-vested Options | ' | ' | ' | ' | ' |
Non-vested | ' | ' | 160,000 | 1,010,000 | ' |
Granted | ' | ' | 750,000 | 200,000 | ' |
Vested | ' | ' | -340,000 | -450,000 | ' |
Forfeited, expired or cancelled | ' | ' | -160,000 | -600,000 | ' |
Non-vested | ' | ' | 410,000 | 160,000 | 1,010,000 |
Weighted -Average Grant-Date Fair Value | ' | ' | ' | ' | ' |
Non-vested | ' | ' | $0.48 | $1.08 | ' |
Granted | ' | ' | $0.25 | $0.05 | ' |
Vested | ' | ' | $0.25 | $0.32 | ' |
Forfeited, expired or cancelled | ' | ' | $0.48 | ' | ' |
Non-vested | ' | ' | $0.37 | $0.48 | $1.08 |
Options_and_Warrants_Summary_o2
Options and Warrants (Summary of Warrant Activity) (Details) (USD $) | Dec. 31, 2013 | Oct. 31, 2013 | Apr. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Warrants [Member] | Warrants [Member] | ||||
Shares | ' | ' | ' | ' | ' |
Outstanding | ' | ' | ' | 2,788,333 | 7,393,081 |
Granted | ' | ' | ' | ' | 594,000 |
Exercised | ' | ' | ' | ' | -125,000 |
Forfeited, expired or cancelled | ' | ' | ' | -2,788,333 | -5,073,748 |
Outstanding | ' | ' | ' | ' | 2,788,333 |
Exercisable at December 31, 2013 | ' | ' | ' | ' | ' |
Weighted-Average Exercise Price | ' | ' | ' | ' | ' |
Outstanding | 0.06 | 0.2 | 1 | 1.38 | 0.89 |
Granted | ' | ' | ' | ' | $1 |
Exercised | ' | ' | ' | ' | $0.40 |
Forfeited, expired or cancelled | ' | ' | ' | ($1.38) | $0.51 |
Outstanding | 0.06 | 0.2 | 1 | ' | 1.38 |
Exercisable at December 31, 2013 | ' | ' | ' | ' | ' |
Weighted-Average Remaining Contractual Term | ' | ' | ' | ' | ' |
Outstanding | ' | ' | ' | ' | '1 year |
Exercisable at December 31, 2013 | ' | ' | ' | ' | ' |
Aggregate Intrinsic Value | ' | ' | ' | ' | ' |
Outstanding | ' | ' | ' | ' | ' |
Exercisable at December 31, 2013 | ' | ' | ' | ' | ' |
Fair_Value_Schedule_of_Assets_
Fair Value (Schedule of Assets and Liabilities Measured at Fair Value) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Total [Member] | ' | ' |
Assets: | ' | ' |
Fair market value of ACM's net identifiable assets acquired (See Note 13) | $1,589,000 | ' |
Liabilities: | ' | ' |
Beneficial conversion feature of note payable (See Note 6) | 74,348 | ' |
Iron Ore Properties financial instrument, net (See Note 8) | ' | 600,000 |
Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Fair market value of ACM's net identifiable assets acquired (See Note 13) | ' | ' |
Liabilities: | ' | ' |
Beneficial conversion feature of note payable (See Note 6) | 74,348 | ' |
Iron Ore Properties financial instrument, net (See Note 8) | ' | ' |
Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Fair market value of ACM's net identifiable assets acquired (See Note 13) | ' | ' |
Liabilities: | ' | ' |
Beneficial conversion feature of note payable (See Note 6) | ' | ' |
Iron Ore Properties financial instrument, net (See Note 8) | ' | -200,000 |
Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Fair market value of ACM's net identifiable assets acquired (See Note 13) | 1,589,000 | ' |
Liabilities: | ' | ' |
Beneficial conversion feature of note payable (See Note 6) | ' | ' |
Iron Ore Properties financial instrument, net (See Note 8) | ' | $800,000 |
Fair_Value_Summary_of_Assets_a
Fair Value (Summary of Assets and Liabilites Measured at Fair Value on a Recurring Basis Using Unobservable Inputs) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Iron Ore Properties Financial Instrument | ' |
Beginning balance | $800,000 |
Additions | 1,589,000 |
Reductions (conversion of Iron Ore Instrument) | -800,000 |
Ending balance | 1,589,000 |
The amount of total gains or losses for the year included in earnings attributable to the change in unrealized gains or losses relating to liabilities still held at reporting date | ' |
Reacquisition_of_ACM_Details
Re-acquisition of ACM (Details) (USD $) | 12 Months Ended | 92 Months Ended | 0 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | 8-May-13 | Apr. 04, 2012 | Apr. 04, 2012 | |
American Copper Mining S.A. de C.V. [Member] | American Copper Mining S.A. de C.V. [Member] | American Copper Mining S.A. de C.V. [Member] | ||||
Adit [Member] | ||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' |
Percent of interest sold to Yamana | ' | ' | ' | ' | 99.99% | ' |
Proceeds from the sale of American Copper Mining | ' | ' | ' | ' | $7,500,000 | ' |
Consideration paid with equity issued to acquiree | ' | ' | ' | ' | ' | 500,000 |
Number of shares called by warrant issued | ' | ' | ' | ' | ' | 250,000 |
Payment to Mexican government for release of tax lien | ' | ' | ' | ' | 780,000 | ' |
Assets | ' | ' | ' | ' | ' | ' |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Mining Concessions | ' | ' | ' | 1,571,093 | ' | ' |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings | ' | ' | ' | 18,115 | ' | ' |
Liabilities | ' | ' | ' | ' | ' | ' |
None | ' | ' | ' | ' | ' | ' |
Fair market value of net identifiable assets acquired | ' | ' | ' | 1,589,208 | ' | ' |
Less: Fair value of the consideration transferred for ACM | ' | ' | ' | ' | ' | ' |
Add: Release of Adit?s tax liability due to the termination of the purchase | ' | ' | ' | 1,900,763 | ' | ' |
Value of assigned gain on bargain acquisition of ACM | $3,489,971 | ' | $3,489,971 | $3,489,971 | ' | ' |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2013 | Oct. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Feb. 28, 2013 | Mar. 31, 2012 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||||||||
Don Roman [Member] | Restricted Stock [Member] | |||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued, price per share | $0.24 | $0.27 | $0.20 | $0.30 | $0.36 | $0.50 | $0.20 | ' | ' | $0.30 |
Origination of Loan to Purchase Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | $4,725,000 | $2,025,000 |
Tax received | ' | ' | ' | ' | ' | ' | ' | $40,489 | ' | ' |