2023 Q4 Form 10-Q Financial Statement
#000119983523000547 Filed on November 13, 2023
Income Statement
Concept | 2023 Q4 | 2023 Q3 |
---|
Balance Sheet
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $30.00K | |
YoY Change | 1269.86% | |
Cash & Equivalents | $25.61K | |
Short-Term Investments | ||
Other Short-Term Assets | $10.00K | |
YoY Change | -76.48% | |
Inventory | ||
Prepaid Expenses | $11.72K | |
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $37.33K | |
YoY Change | -16.5% | |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $630.0K | |
YoY Change | 0.57% | |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $30.00K | |
YoY Change | 20.0% | |
Other Assets | ||
YoY Change | ||
Total Long-Term Assets | $651.4K | |
YoY Change | 0.0% | |
TOTAL ASSETS | ||
Total Short-Term Assets | $37.33K | |
Total Long-Term Assets | $651.4K | |
Total Assets | $688.8K | |
YoY Change | -1.06% | |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $1.480M | |
YoY Change | -22.99% | |
Accrued Expenses | $3.530M | |
YoY Change | 24.15% | |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $6.110M | |
YoY Change | 7.44% | |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $12.57M | |
YoY Change | 7.8% | |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | |
YoY Change | ||
Other Long-Term Liabilities | $280.0K | |
YoY Change | -18.54% | |
Total Long-Term Liabilities | $280.7K | |
YoY Change | -18.34% | |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $12.57M | |
Total Long-Term Liabilities | $280.7K | |
Total Liabilities | $12.85M | |
YoY Change | 7.06% | |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$41.66M | |
YoY Change | 2.68% | |
Common Stock | $19.66M | |
YoY Change | 5.99% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$12.16M | |
YoY Change | ||
Total Liabilities & Shareholders Equity | $688.8K | |
YoY Change | -1.06% |
Cashflow Statement
Concept | 2023 Q4 | 2023 Q3 |
---|
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2023 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0000059860 | ||
CY2022Q4 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
usd | |
CY2023Q3 | grmc |
Stock Subscription Payable
StockSubscriptionPayable
|
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Commitments And Contingencies
CommitmentsAndContingencies
|
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Commitments And Contingencies
CommitmentsAndContingencies
|
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Preferred Stock Value
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|
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Preferred Stock Value
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|
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Other Nonrecurring Income
OtherNonrecurringIncome
|
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CY2022Q3 | us-gaap |
Other Nonrecurring Income
OtherNonrecurringIncome
|
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us-gaap |
Other Nonrecurring Income
OtherNonrecurringIncome
|
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CY2023Q3 | grmc |
Due To Related Parties Current1
DueToRelatedPartiesCurrent1
|
1431084 | usd |
CY2023Q3 | grmc |
Earnings Per Share Basic And Diluted1
EarningsPerShareBasicAndDiluted1
|
0 | |
CY2022Q3 | grmc |
Earnings Per Share Basic And Diluted1
EarningsPerShareBasicAndDiluted1
|
0 | |
CY2022Q2 | grmc |
Preferred D Conversion To Common Stock
PreferredDConversionToCommonStock
|
usd | |
grmc |
Proceeds From Convertible Notes Payable Net
ProceedsFromConvertibleNotesPayableNet
|
usd | ||
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
usd | ||
grmc |
Proceeds On Subscription Payable
ProceedsOnSubscriptionPayable
|
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grmc |
Common Shares During Period Value Issued For Subscription Payable
CommonSharesDuringPeriodValueIssuedForSubscriptionPayable
|
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grmc |
Preferred D Conversion To Common Stock
PreferredDConversionToCommonStock
|
usd | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2023-09-30 | ||
dei |
Document Transition Report
DocumentTransitionReport
|
false | ||
dei |
Entity File Number
EntityFileNumber
|
001-06412 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
GOLDRICH MINING COMPANY | ||
dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
AK | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
91-0742812 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
2525 E. 29th | ||
dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
Ave. Ste. 10B-160 | ||
dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Spokane | ||
dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
WA | ||
dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
99223 | ||
dei |
City Area Code
CityAreaCode
|
(509) | ||
dei |
Local Phone Number
LocalPhoneNumber
|
535-7367 | ||
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
No | ||
dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
dei |
Entity Small Business
EntitySmallBusiness
|
true | ||
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Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
false | ||
dei |
Entity Shell Company
EntityShellCompany
|
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Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
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Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
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Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
3969 | usd |
CY2023Q3 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
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CY2022Q4 | us-gaap |
Prepaid Expense Current
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|
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CY2023Q3 | us-gaap |
Assets Current
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Assets Current
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CY2023Q3 | us-gaap |
Mineral Properties Net
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|
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CY2022Q4 | us-gaap |
Mineral Properties Net
MineralPropertiesNet
|
626428 | usd |
CY2023Q3 | us-gaap |
Other Assets Miscellaneous
OtherAssetsMiscellaneous
|
25000 | usd |
CY2022Q4 | us-gaap |
Other Assets Miscellaneous
OtherAssetsMiscellaneous
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25000 | usd |
CY2023Q3 | us-gaap |
Assets
Assets
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688753 | usd |
CY2022Q4 | us-gaap |
Assets
Assets
|
761924 | usd |
CY2023Q3 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
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CY2022Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
1534863 | usd |
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Interest Payable Current
InterestPayableCurrent
|
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Interest Payable Current
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Interest Payable Current And Noncurrent
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Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
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2151466 | usd |
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Due To Related Parties Current1
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Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
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Notes Payable
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Notes Payable
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Notes Payable Related Parties Classified Current1
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Notes Payable Related Parties Classified Current1
NotesPayableRelatedPartiesClassifiedCurrent1
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Notes Payable In Gold
NotesPayableInGold
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499028 | usd |
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Notes Payable In Gold
NotesPayableInGold
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CY2023Q3 | us-gaap |
Dividends Payable Current
DividendsPayableCurrent
|
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CY2023Q3 | us-gaap |
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CY2022Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
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11630936 | usd |
CY2022Q4 | grmc |
Stock Subscription Payable
StockSubscriptionPayable
|
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CY2023Q3 | us-gaap |
Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
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Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
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Liabilities Noncurrent
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Liabilities
Liabilities
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CY2022Q4 | us-gaap |
Liabilities
Liabilities
|
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CY2023Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
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Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
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CY2023Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
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CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
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CY2023Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
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Preferred Stock Shares Outstanding
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CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
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Preferred Stock Shares Outstanding
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CommonStockParOrStatedValuePerShare
|
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Common Stock Par Or Stated Value Per Share
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Common Stock Shares Authorized
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Common Stock Shares Authorized
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Common Stock Shares Issued
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Common Stock Shares Outstanding
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Common Stock Value
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|
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|
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|
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Stockholders Equity
StockholdersEquity
|
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Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
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CY2022Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
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Mine Preparation Costs
MinePreparationCosts
|
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CY2022Q3 | grmc |
Mine Preparation Costs
MinePreparationCosts
|
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grmc |
Mine Preparation Costs
MinePreparationCosts
|
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grmc |
Mine Preparation Costs
MinePreparationCosts
|
25443 | usd | |
CY2023Q3 | us-gaap |
Management Fee Expense
ManagementFeeExpense
|
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CY2022Q3 | us-gaap |
Management Fee Expense
ManagementFeeExpense
|
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us-gaap |
Management Fee Expense
ManagementFeeExpense
|
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us-gaap |
Management Fee Expense
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Professional Fees
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|
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Professional Fees
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Professional Fees
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|
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us-gaap |
Professional Fees
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General And Administrative Expense
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|
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|
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us-gaap |
General And Administrative Expense
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|
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us-gaap |
General And Administrative Expense
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|
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CY2023Q3 | us-gaap |
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OtherGeneralExpense
|
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CY2022Q3 | us-gaap |
Other General Expense
OtherGeneralExpense
|
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us-gaap |
Other General Expense
OtherGeneralExpense
|
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us-gaap |
Other General Expense
OtherGeneralExpense
|
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CY2023Q3 | us-gaap |
Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
|
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Noninterest Expense Directors Fees
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|
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us-gaap |
Noninterest Expense Directors Fees
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|
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us-gaap |
Noninterest Expense Directors Fees
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|
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|
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Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
|
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us-gaap |
Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
|
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us-gaap |
Cost Of Property Repairs And Maintenance
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|
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Litigation Settlement Expense
LitigationSettlementExpense
|
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us-gaap |
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Operating Expenses
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|
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us-gaap |
Operating Expenses
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|
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us-gaap |
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OtherNonrecurringIncome
|
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Change In Fair Value Of Notes Payable In Gold
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|
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Change In Fair Value Of Notes Payable In Gold
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grmc |
Change In Fair Value Of Notes Payable In Gold
ChangeInFairValueOfNotesPayableInGold
|
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grmc |
Change In Fair Value Of Notes Payable In Gold
ChangeInFairValueOfNotesPayableInGold
|
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Interest Expense And Finance Costs Related Party
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Interest Expense And Finance Costs Related Party
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Interest Expense And Finance Costs Related Party
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Interest Expense And Finance Costs
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|
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Interest Expense And Finance Costs
InterestExpenseAndFinanceCosts
|
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grmc |
Interest Expense And Finance Costs
InterestExpenseAndFinanceCosts
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grmc |
Interest Expense And Finance Costs
InterestExpenseAndFinanceCosts
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OtherNonoperatingIncomeExpense
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us-gaap |
Other Nonoperating Income Expense
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|
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Net Income Loss
NetIncomeLoss
|
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CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
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us-gaap |
Net Income Loss
NetIncomeLoss
|
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us-gaap |
Net Income Loss
NetIncomeLoss
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Preferred Stock Dividends Income Statement Impact
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Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
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Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
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Preferred Stock Dividends Income Statement Impact
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Net Income Loss Available To Common Stockholders Basic
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Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
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us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
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grmc |
Earnings Per Share Basic And Diluted1
EarningsPerShareBasicAndDiluted1
|
-0.01 | ||
grmc |
Earnings Per Share Basic And Diluted1
EarningsPerShareBasicAndDiluted1
|
-0.01 | ||
CY2023Q3 | grmc |
Weighted Average Number Of Share Outstanding Basic And Diluted1
WeightedAverageNumberOfShareOutstandingBasicAndDiluted1
|
195689958 | shares |
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Weighted Average Number Of Share Outstanding Basic And Diluted1
WeightedAverageNumberOfShareOutstandingBasicAndDiluted1
|
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grmc |
Weighted Average Number Of Share Outstanding Basic And Diluted1
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|
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grmc |
Weighted Average Number Of Share Outstanding Basic And Diluted1
WeightedAverageNumberOfShareOutstandingBasicAndDiluted1
|
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Stockholders Equity
StockholdersEquity
|
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Common Shares During Period Value Issued For Subscription Payable
CommonSharesDuringPeriodValueIssuedForSubscriptionPayable
|
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Net Income Loss
NetIncomeLoss
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Stockholders Equity
StockholdersEquity
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Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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NetIncomeLoss
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Stockholders Equity
StockholdersEquity
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Common Shares During Period Value Issued For Subscription Payable
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Stockholders Equity
StockholdersEquity
|
-10291963 | usd |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
103157 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-464791 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-10653597 | usd |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
30000 | usd |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-357388 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-10980985 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-328450 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-11309435 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1182060 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1150629 | usd | |
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
8027 | usd | |
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
4420 | usd | |
grmc |
Change In Fair Value Of Notes Payable In Gold
ChangeInFairValueOfNotesPayableInGold
|
15514 | usd | |
grmc |
Change In Fair Value Of Notes Payable In Gold
ChangeInFairValueOfNotesPayableInGold
|
-35777 | usd | |
us-gaap |
Results Of Operations Accretion Of Asset Retirement Obligations
ResultsOfOperationsAccretionOfAssetRetirementObligations
|
5262 | usd | |
us-gaap |
Results Of Operations Accretion Of Asset Retirement Obligations
ResultsOfOperationsAccretionOfAssetRetirementObligations
|
5060 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-94808 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-65371 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-57554 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
63815 | usd | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
181242 | usd | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
174557 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
474363 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
462814 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
166868 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
161658 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-293530 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-248711 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
162667 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
133157 | usd | |
grmc |
Proceeds From Convertible Notes Payable Net
ProceedsFromConvertibleNotesPayableNet
|
100000 | usd | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
25000 | usd | |
grmc |
Proceeds On Subscription Payable
ProceedsOnSubscriptionPayable
|
30000 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
27500 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
83980 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
315167 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
247137 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
21637 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1574 | usd | |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
3969 | usd |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
3762 | usd |
CY2023Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
25606 | usd |
CY2022Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2188 | usd |
grmc |
Common Shares During Period Value Issued For Subscription Payable
CommonSharesDuringPeriodValueIssuedForSubscriptionPayable
|
70000 | usd | |
grmc |
Preferred D Conversion To Common Stock
PreferredDConversionToCommonStock
|
200000 | usd | |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<p id="xdx_80B_eus-gaap--BasisOfAccounting_z8URprFqGh4e" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td><td style="width: 0.3in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_825_zWHDBXvrRL4h">BASIS OF PRESENTATION</span></b></span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, as well as the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements and as a result, they are condensed. In the opinion of the Companys management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim financial statements have been included. Operating results for the three and nine-month periods ended September 30, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For further information refer to the financial statements and footnotes thereto in the Companys Annual Report on Form 10-K for the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Going Concern</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying condensed consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company has incurred losses since its inception and does not have sufficient cash to fund normal operations and meet debt obligations for the next 12 months without deferring payment on certain current liabilities and/or raising additional funds.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.3in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company currently has no historical recurring source of revenue, negative working capital of $<span id="xdx_900_ecustom--WorkingCapital_iI_c20230930_zzAJ7IPRKXj6">12,534,571</span>, and an accumulated deficit of $<span id="xdx_90E_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_di_c20230930_zZ83BTsbVavg">41,660,164</span> at September 30, 2023. These factors raise substantial doubt about the Companys ability to continue as a going concern. The Company may profitably execute a production business plan, and thereby, its ability to continue as a going concern may improve and become less dependent on the Companys ability to raise capital to fund its future exploration and working capital requirements. The Companys plans for the long-term return to and continuation as a going concern include the profitable exploitation of its mining properties and financing the Companys future operations through sales of its common stock and/or debt. The condensed consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. If the going concern basis were not appropriate for these financial statements, adjustments would be necessary in the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications used.</span></p> | ||
CY2023Q3 | grmc |
Working Capital
WorkingCapital
|
12534571 | usd |
CY2023Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-41660164 | usd |
CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
750000000 | shares |
CY2023Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.10 | |
CY2023Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
196559523 | shares |
CY2023Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
196559523 | shares |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
220550731 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
182841752 | shares | |
CY2023Q3 | us-gaap |
Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
|
182328 | usd |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
|
165355 | usd |
CY2023Q3 | grmc |
Due To Related Parties Current1
DueToRelatedPartiesCurrent1
|
1431084 | usd |
CY2022Q4 | grmc |
Due To Related Parties Current1
DueToRelatedPartiesCurrent1
|
1264216 | usd |
CY2023Q3 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
105263 | usd |
CY2023Q3 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
5263 | usd |
CY2023Q3 | grmc |
Proceeds From Convertible Notes Payable Net
ProceedsFromConvertibleNotesPayableNet
|
100000 | usd |
CY2023Q3 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
105263 | usd |
CY2023Q3 | us-gaap |
Notes Payable
NotesPayable
|
1276485 | usd |
CY2023Q3 | grmc |
Notes Payable Related Parties Classified Current1
NotesPayableRelatedPartiesClassifiedCurrent1
|
4224927 | usd |
CY2022Q4 | grmc |
Notes Payable Related Parties Classified Current1
NotesPayableRelatedPartiesClassifiedCurrent1
|
4195979 | usd |
CY2023Q3 | grmc |
Finder Fees
FinderFees
|
208056 | usd |
grmc |
Finder Fees
FinderFees
|
617824 | usd | |
CY2023Q3 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
158435 | usd |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
474363 | usd | |
CY2022Q3 | grmc |
Finder Fees
FinderFees
|
196442 | usd |
grmc |
Finder Fees
FinderFees
|
585261 | usd | |
CY2022Q3 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
155626 | usd |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
462814 | usd | |
CY2023Q3 | grmc |
Notes Payable In Gold
NotesPayableInGold
|
499028 | usd |
CY2023Q3 | grmc |
Change In Fair Value Of Notes Payable In Gold
ChangeInFairValueOfNotesPayableInGold
|
-11138 | usd |
CY2022Q3 | grmc |
Change In Fair Value Of Notes Payable In Gold
ChangeInFairValueOfNotesPayableInGold
|
-38751 | usd |
grmc |
Change In Fair Value Of Notes Payable In Gold
ChangeInFairValueOfNotesPayableInGold
|
15514 | usd | |
grmc |
Change In Fair Value Of Notes Payable In Gold
ChangeInFairValueOfNotesPayableInGold
|
-35777 | usd | |
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
30000 | usd | |
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
133157 | usd |