Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Asset retirement obligation (Tables)

v2.4.0.6
Asset retirement obligation (Tables)
 12 Months Ended
Dec. 31, 2012
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Asset Retirement Obligations [Table Text Block]

Changes in the Company's asset retirement and reclamation obligations were as follows:

    Year ended     Year ended  
    December 31, 2012     December 31, 2011  
    $     $  
             
Reclamation obligation, beginning of year     561,964       503,101  
Liabilities incurred     90,000       90,000  
Obligations converted to ARO     (377,000 )     -  
Liabilities settled     (199,200 )     (31,137 )
Reclamation obligation, end of year     75,764       561,964  

 

    Year ended     Year ended  
    December 31, 2012     December 31, 2011  
    $     $  
Asset retirement obligations, beginning of year     -       -  
Liabilities incurred     577,033       -  
ARO transferred from reclamation obligations     377,000       -  
Liabilities settled     -       -  
Accretion expense     -       -  
Asset retirement obligations, end of year     954,033       -