• Filing Date: 2017-03-31
  • Form Type: 10-K
  • Description: Annual report
v3.7.0.1
8. Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
Long - Term Debt
Long-Term debt at December 31, 2016 and 2015, is as follows:   December 31,     December 31,  
    2016     2015  
Note payable to First Security Bank, bearing interest at 6%;            
payable in monthly installments of $917; maturing            
September 2018; collateralized by equipment.   $ 18,245     $ 27,845  
Note payable to Caterpillar Financial Services, bearing interest at 6%;                
payable in monthly installments of $1,300; maturing                
August 2019; collateralized by equipment.     40,556       -  
Note payable to Wells Fargo Bank, bearing interest at 4%;                
payable in monthly installments of $477; original maturity date of                
December 2016; collateralized by equipment.     473       5,399  
Note payable to De Lage Landen Financial Services,                
 bearing interest at 5.30%; payable in monthly installments of $549;                
original maturity date of March 2016; collateralized by equipment.     -       2,171  
Note payable to De Lage Landen Financial Services,                
bearing interest at 3.51%; payable in monthly installments of $655;                
maturing September 2019; collateralized by equipment.     20,581       27,587  
Note payable to De Lage Landen Financial Services,                
bearing interest at 3.51%; payable in monthly installments of $655;                
maturing December 2019; collateralized by equipment.     22,944       29,300  
Note payable to Phyllis Rice, bearing interest                
at 1%; payable in monthly installments of $2,000;                
original maturity date of March 2015; collateralized by equipment.     14,146       14,146  
Obligation payable for Soyatal Mine, non-interest bearing,                
 annual payments of $100,000 or $200,000 through 2019, net of discount.     776,319       820,272  
Obligation payable for Guadalupe Mine, non-interest bearing,                
 annual payments from $60,000 to $149,078 through 2026, net of discount.     970,651       972,312  
      1,863,915       1,899,032  
Less current portion     (391,046 )     (181,287 )
Long-term portion   $ 1,472,869     $ 1,717,745  
Principal payments on debt
Year Ending December 31,      
2017   $ 391,046  
2018     260,232  
2019     307,081  
2020     198,436  
2021     108,150  
Thereafter     598,970  
    $ 1,863,915