Quarterly report pursuant to sections 13 or 15(d)

INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY AMAK

INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY AMAK	6 Months Ended
INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY AMAK	Jun. 30, 2011
INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY AMAK [Abstract]
INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY AMAK	13. INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY (“AMAK”) As of June 30, 2011, and December 31, 2010, the Company has a non-controlling equity interest of approximately $30.9 million. This investment is accounted for under the cost method. There were no events or changes in circumstances that may have an adverse effect on the fair value of our investment in AMAK at June 30, 2011. See the Company's Annual Report on Form 10-K for the year ended December 31, 2010, for additional information. In May 2011 we paid $50,000 on behalf of AMAK as a hiring fee for the general manager of AMAK. In June 2011 we advanced $750,000 to AMAK for interim funding. The $750,000 was returned in August 2011.

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

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