Annual report pursuant to section 13 and 15(d)

ACCRUED LIABILITIES IN SAUDI ARABIA

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ACCRUED LIABILITIES IN SAUDI ARABIA
12 Months Ended
Dec. 31, 2011
ACCRUED LIABILITIES IN SAUDI ARABIA [Abstract]  
ACCRUED LIABILITIES IN SAUDI ARABIA
NOTE 12 – ACCRUED LIABILITIES IN SAUDI ARABIA

After the contribution of the Company's mining properties to AMAK as discussed in Note 8, the Company closed the branch office in Saudi Arabia, started the legal process of terminating employees located there, and has begun to pay termination benefits and other liabilities.  Accrued liabilities in Saudi Arabia at December 31 are summarized as follows:

   
2011
   
2010
 
Salaries
  $ --     $ 20,798  
Termination benefits
    42,878       66,942  
Other liabilities
    96,853       96,853  
                 
   Total
  $ 139,731     $ 184,593