v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (3,260,361) $ (739,939)
Adjustments to reconcile net loss to net cash used by operating activities:    
Depreciation and amortization 814,422 575,671
Accretion of asset retirement obligation 9,953 9,632
Stock based compensation 1,087,575 0
Stock issued for services 69,673 0
Loss on write-off of equipment 0 9,536
Equity income on investment in Buckskin (3,782) 0
Gain on forgiveness of CARES Act loan 0 (358,346)
Change in operating assets and liabilities:    
Gold sales receivable (143,408) 41,145
Inventories 188,815 (177,391)
Joint venture receivable (265) (1,767)
Other current assets (110,380) (65,230)
Accounts payable and accrued expenses (33,894) 161,188
Accrued payroll and related payroll expenses 30,625 63,083
Net cash used by operating activities (1,351,027) (482,418)
Cash flows from investing activities:    
Purchases of property, plant and equipment (664,645) (502,879)
Additions to mineral properties (2,414,607) (1,077,799)
Deposit on equipment (11,694) (12,863)
Net cash used by investing activities (3,090,946) (1,593,541)
Cash flows from financing activities:    
Sales of common stock and warrants, net of issuance costs 2,580,000 2,906,896
Proceeds from exercise of warrants 117,500 341,667
Proceeds from exercise of stock options 0 4,500
Principal payments on notes payable (572,558) (439,902)
Principal payments on notes, related parties (37,701) (62,362)
Issuance of convertible debt 1,750,000 1,085,000
Proceeds from Small Business Administration loans 0 518,246
Contributions from non-controlling interest 41,305 44,063
Net cash provided by financing activities 3,878,546 4,398,108
Net change in cash and cash equivalents (563,427) 2,322,149
Cash and cash equivalents, beginning of year 2,539,945 217,796
Cash and cash equivalents, end of year 1,976,518 2,539,945
Supplemental disclosure of cash flow information:    
Interest paid in cash, net of amount capitalized 257,614 148,086
Non-cash investing and financing activities:    
Deposit applied to purchase of equipment and mineral property 12,863 25,000
Notes payable for equipment purchase $ 1,149,683 283,154
Common stock issued for investment in Buckskin 328,946  
Conversion of convertible debt to common stock $ 835,000 $ 50,000