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Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2019 shares
Document and Entity Information [Abstract]
Document Type	40-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	GOLD RESERVE INC.
Entity Central Index Key	0001072725
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	99,395,048
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents (Note 4)	$ 61,822,137	$ 147,646,353
Marketable securities (Note 5)	177,945	287,638
Income tax receivable (Note 10)	10,798,291	6,450,384
Deposits, advances and other	747,872	1,608,698
Total current assets	73,546,245	155,993,073
Property, plant and equipment, net (Note 6)	6,470,722	12,660,273
Right of use asset (Note 2)	251,984	0
Total assets	80,268,951	168,653,346
Current Liabilities:
Accounts payable and accrued expenses (Note 3)	728,790	712,520
Lease liability (Note 2)	85,516	0
Total current liabilities	814,306	712,520
Lease liability (Note 2)	169,911	0
Total liabilities	984,217	712,520
SHAREHOLDERS' EQUITY
Common shares (Note 11)	302,469,647	378,009,884
Contributed surplus	20,625,372	20,625,372
Stock options (Note 9)	20,752,893	20,721,850
Accumulated deficit	(264,563,178)	(251,416,280)
Total shareholders' equity	79,284,734	167,940,826
Total liabilities and shareholders' equity	$ 80,268,951	$ 168,653,346

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
INCOME (LOSS)
Gain on sale of mining data (Note 3)	$ 0	$ 52,500,000
Arbitration award (Note 3)	0	36,000,000
Interest income	1,290,565	325,183
Loss on impairment of trust account (Note 4)	0	(21,456,881)
Loss on marketable debt securities (Note 5)	0	(14,188,651)
Gain (loss) on marketable equity securities	(109,693)	48,405
Foreign currency gain (loss)	418,877	(1,658,881)
Other INCOME (LOSS)	1,599,749	51,569,175
EXPENSES
Corporate general and administrative (Notes 3 and 9)	5,306,335	7,468,553
Contingent value rights (Note 3)	262,549	4,799,114
Siembra Minera Project costs (Note 7)	5,190,833	5,125,815
Write-down of property, plant and equipment (Note 6)	6,067,967	0
Exploration costs	36,078	27,980
Legal and accounting	1,386,898	1,140,436
Arbitration and settlement (Note 3)	406,337	217,974
Equipment holding costs	437,557	901,050
Total EXPENSES	19,094,554	19,680,922
Net income (loss) before income tax benefit	(17,494,805)	31,888,253
Income tax benefit (Note 10)	4,347,907	9,970,117
Net income (loss) and comprehensive income (loss) for the year	$ (13,146,898)	$ 41,858,370
Net income (loss) per share, basic and diluted	$ (0.13)	$ 0.42
Weighted average common shares outstanding
Basic	99,395,048	99,395,048
Diluted	99,395,048	99,497,860

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Total	Common Shares	Common Shares Amount	Contributed Surplus	Stock Options	Accumulated Deficit	Accumulated Other Comprehensive Income
Balance at Dec. 31, 2017			$ 378,009,884	$ 20,625,372	$ 20,409,643	$ (293,386,189)	$ 111,539
Balance (in shares) at Dec. 31, 2017		99,395,048
Cumulative effect of accounting change						111,539	(111,539)
Net income for the year						41,858,370
Stock option compensation (Note 9)					312,207
Balance at Dec. 31, 2018			378,009,884	20,625,372	20,721,850	(251,416,280)	0
Balance (in shares) at Dec. 31, 2018		99,395,048
Balance at Dec. 31, 2018	$ 167,940,826
Net loss for the year						(13,146,898)
Stock option compensation (Note 9)					31,043
Return of capital (Note 11)			(75,540,237)
Balance at Dec. 31, 2019	$ 79,284,734		$ 302,469,647	$ 20,625,372	$ 20,752,893	$ (264,563,178)	$ 0
Balance (in shares) at Dec. 31, 2019		99,395,048

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities:
Net (loss) income for the year	$ (13,146,898)	$ 41,858,370
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Stock option compensation	31,043	312,207
Depreciation	131,594	47,940
Gain on sale of mining data	0	(52,500,000)
Arbitration award	0	(36,000,000)
Write-down of property, plant and equipment	6,067,967	14,000
Loss on marketable equity and debt securities	109,693	14,140,245
Income tax	(4,347,907)	(26,116,305)
Changes in non-cash working capital:
Net decrease (increase) in deposits and advances	860,826	(1,452,648)
· Net increase (decrease) in accounts payable and accrued expenses	19,713	(4,551,844)
Net cash used in operating activities	(10,273,969)	(64,248,035)
Cash Flows from Investing Activities:
Proceeds from disposition of marketable debt securities	0	74,311,349
Purchase of property, plant and equipment	(10,010)	(89,679)
Net cash provided by (used in) investing activities	(10,010)	74,221,670
Cash Flows from Financing Activities:
Return of capital	(75,540,237)	0
Net cash used in financing activities	(75,540,237)	0
Change in Cash and Cash Equivalents:
Net increase (decrease) in cash and cash equivalents	(85,824,216)	9,973,635
Cash and cash equivalents - beginning of year	147,646,353	137,672,718
Cash and cash equivalents - end of year	61,822,137	147,646,353
Supplemental Cash Flow Information:
Cash paid for income taxes	$ 0	$ 16,146,188

New Accounting Policies:

12 Months Ended

Dec. 31, 2019

New Accounting Policies: [Abstract]

New Accounting Policies:

Note 2. New Accounting Policies:

Adopted in the year

In February 2016, the FASB issued ASU 2016-02, Leases. This update increased the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The Company adopted this standard as of January 1, 2019 using the modified retrospective approach, with no restatement of comparatives. The Company recorded a lease liability and corresponding right of use asset of approximately $0.3 million for the operating lease for its corporate office.

Changes to the Company's accounting policy as a result of the adoption of ASC Topic 842 are as follows: Operating lease right-of-use ("ROU") assets and lease liabilities are recognized at the commencement date based on the present value of the future lease payments over the lease term. When the rate implicit in the lease cannot be readily determined, the Company uses its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is derived from information available at the lease commencement date and represents the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. The ROU assets include any lease payments made and lease incentives received prior to the commencement date. Operating lease ROU assets also include any cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

Arbitral Award, Settlement Agreement and Mining Data Sale:

12 Months Ended

Dec. 31, 2019

Arbitral Award, Settlement Agreement and Mining Data Sale: [Abstract]

Arbitral Award, Settlement Agreement and Mining Data Sale:

Note 3. Arbitral Award, Settlement Agreement and Mining Data Sale:

In October 2009 we initiated a claim (the "Brisas Arbitration") under the Additional Facility Rules of the International Centre for the Settlement of Investment Disputes ("ICSID") to obtain compensation for the losses caused by the actions of Venezuela that terminated our previous mining project known as the "Brisas Project." On September 22, 2014, we were granted an Arbitral Award (the "Award") totaling $740.3 million.

In July 2016, we signed the Settlement Agreement, subsequently amended, whereby Venezuela agreed to pay us a total of approximately $1.032 billion which is comprised of $792 million to satisfy the Award (including interest) and $240 million for the purchase of our mining data related to the Brisas Project (the "Mining Data")) and was to be settled in a series of payments ending on or before June 15, 2019. As agreed, the first $240 million received by Gold Reserve from Venezuela has been recognized as proceeds from the sale of the Mining Data.

To date, the Company has received payments of approximately $254 million pursuant to the Settlement Agreement including $165.5 million transferred from the Trust Account (excluding $21.5 million that remains in the Trust Account. See Note 4, Cash and Cash Equivalents) and $88.5 million (the market value at the time of the agreement) in Venezuelan government bonds, which were at the time exempt from U.S. Sanctions pursuant to then-applicable General License 3 issued by the U.S. Treasury Department's Office of Foreign Asset Control. The bonds were subsequently sold for approximately $74.3 million and the Company realized a $14.2 million loss on the sale during the year ended December 31, 2018. The remaining unpaid amount due from Venezuela pursuant to the Settlement Agreement, which is now delinquent, totals approximately $886 million (including interest of approximately $108 million) as of the date of the Audited Consolidated Financial Statements.

In addition to other constraints, the Sanctions restrict the Company from working with those Venezuelan government officials responsible for the payment and transfer of funds associated with the Settlement Agreement which adversely impacts our ability to collect the remaining balance of the Award plus interest and/or amounts due pursuant to the Settlement Agreement from Venezuela.

We have Contingent Value Rights ("CVRs") outstanding that entitle the holders to an aggregate of 5.466% of certain proceeds associated with the collection of the Award, sale of Mining Data or an enterprise sale (the "Proceeds"), less amounts for certain specified obligations, as well as a bonus plan as described below. In 2019 management reduced its original estimate of the income tax due on previous amounts received from the sale of Mining Data. The effect of this change in estimate was to increase the net proceeds from the sale of the Mining Data subject to the CVR and as a result, the Company recorded an increase in its obligation to the CVR holders by approximately $0.3 million. As of December 31, 2019, the total cumulative estimated obligation due pursuant to the terms of the CVR from the sale of the Mining Data and collection of the Award was approximately $10.0 million, which has been fully distributed to CVR holders.

Due to U.S. and Canadian Sanctions and the uncertainty of transferring the remaining cash held in the Trust Account to bank accounts outside of Venezuela, management only considers those funds received by the Company into its North American bank accounts as funds available for purposes of the CVR and Bonus Plan cash distributions.

We maintain a bonus plan (the "Bonus Plan") which is intended to compensate the participants, including executive officers, employees, directors and consultants for their past and present contributions to the Company. The bonus pool under the Bonus Plan, as originally structured, was comprised of the gross proceeds collected or the fair value of any consideration realized related to such transactions less applicable taxes multiplied by 1% of the first $200 million and 5% thereafter. In June 2018, the Board modified the Bonus Plan to increase the percentage participation of certain individuals who in the Board's opinion were not adequately recognized for their current contribution to efforts associated with the conclusion of the Settlement Agreement and the collection of the amounts contemplated thereunder. The effect of the Board's modification to the Bonus Plan was to increase the after-tax percentage allocation for the first $200 million up to a maximum of 1.28% and the percentage allocation thereafter up to a maximum of 6.4%. In 2019 the Company recorded an increase in its obligation to the Bonus Plan participants by approximately $0.3 million as a result of the change to its original estimate of the income tax due on previous amounts received from the sale of Mining Data as discussed above. As of December 31, 2019, the total cumulative estimated obligation pursuant to the terms of the Bonus Plan from the sale of the Mining Data and collection of the Award was approximately $4.4 million, which has been fully distributed to Bonus Plan participants.

Following receipt, if any, of additional funds pursuant to the Settlement Agreement and after applicable payments to CVR holders and Bonus Plan participants, we expect to distribute to our shareholders a substantial majority of any remaining amounts, subject to applicable regulatory requirements and retaining sufficient reserves for operating expenses, contractual obligations, accounts payable and income taxes, and any obligations arising as a result of the collection of the remaining amount owed by Venezuela (See Note 11, Return of Capital).

Cash and Cash Equivalents:

12 Months Ended

Dec. 31, 2019

Cash and Cash Equivalents: [Abstract]

Cash and Cash Equivalents:

Note 4. Cash and Cash Equivalents:

		December 31,		December 31,
		2019		2018
Bank deposits	$	31,499,893	$	47,588,968
Short term investments		30,322,244		100,057,385
Total	$	61,822,137	$	147,646,353

Short term investments include money market funds and US treasury bills which mature in three months or less.

Payments made by Venezuela associated with the Settlement Agreement (excluding the transfer of Venezuelan bonds as discussed herein) have been deposited into a trust account (the "Trust Account") for the benefit of the Company at Banco de Desarrollo Económico y Social de Venezuela ("Bandes Bank"), a Venezuelan state-owned development bank. As Bandes Bank has been designated as an SDN, in 2018 the Company recorded an impairment loss on the remaining balance in the account and considers the Trust Account to be blocked property and not recoverable for accounting purposes. The Trust Account and the approximately $21.5 million therein will remain blocked property until the U.S. government delists Bandes Bank as an SDN or issues a specific license to the Company to unblock this property.

Marketable Securities:

12 Months Ended

Dec. 31, 2019

Marketable Securities: [Abstract]

Marketable Securities:

Note 5. Marketable Securities:

		December 31,		December 31,
		2019		2018
Equity securities
Fair value at beginning of year	$	287,638	$	239,232
Increase (decrease) in fair value		(109,693)		48,406
Fair value at balance sheet date	$	177,945	$	287,638

Debt securities
Fair value at beginning of year	$	-	$	-
Acquisitions		-		88,500,000
Dispositions		-		(74,311,349)
Realized loss		-		(14,188,651)
Fair value at balance sheet date	$	-	$	-

Marketable equity securities are classified as trading securities and accounted for at fair value, based on quoted market prices with unrealized gains or losses recorded in the Consolidated Statements of Operations. Marketable debt securities are classified as trading securities and accounted for at fair value with any unrealized gains or losses recorded in the Consolidated Statements of Operations. The Company's marketable debt securities consisted of Venezuelan government bonds received under the Settlement Agreement (See Note 3, Arbitral Award, Settlement Agreement and Mining Data Sale), which were sold during 2018, resulting in a loss on sale of $14.2 million.

Accounting Standards Codification ("ASC") 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: Level 1 inputs are quoted prices in active markets for identical assets or liabilities, Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or liability and Level 3 inputs are unobservable inputs for the asset or liability that reflect the entity's own assumptions. The fair values of the Company's marketable equity securities as at the balance sheet date are based on Level 1 inputs.

Property, Plant and Equipment:

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment: [Abstract]

Property, Plant and Equipment:

Note 6. Property, Plant and Equipment:

				Accumulated
		Cost		Depreciation		Net
December 31, 2019
Machinery and equipment	$	5,609,567	$	-	$	5,609,567
Furniture and office equipment		479,579		(360,224)		119,355
Transportation equipment		491,025		(132,827)		358,198
Leasehold improvements		51,658		(18,056)		33,602
Mineral property		350,000		-		350,000
	$	6,981,829	$	(511,107)	$	6,470,722

				Accumulated
		Cost		Depreciation		Net
December 31, 2018
Machinery and equipment	$	11,677,534	$	-	$	11,677,534
Furniture and office equipment		469,569		(333,828)		135,741
Transportation equipment		491,025		(34,622)		456,403
Leasehold improvements		51,658		(11,063)		40,595
Mineral property		350,000		-		350,000
	$	13,039,786	$	(379,513)	$	12,660,273

Machinery and equipment consist of infrastructure and milling equipment originally intended for use on the Brisas Project. We evaluate our equipment to determine whether events or changes in circumstances have occurred that may indicate that the carrying amount may not be recoverable. We regularly obtain comparable market data for similar equipment as evidence that fair value less cost to sell is in excess of the carrying amount. In 2019, we wrote down certain machinery and equipment based on review of the price range of similar assets that were available for sale. We recorded impairment write-downs of property, plant and equipment of $6.1 million and $14,000 during the years ended December 31, 2019 and 2018, respectively.

Empresa Mixta Ecosocialista Siembra Minera, S.

12 Months Ended

Dec. 31, 2019

Empresa Mixta Ecosocialista Siembra Minera, S. [Abstract]

Empresa Mixta Ecosocialista Siembra Minera, S.

Note 7. Empresa Mixta Ecosocialista Siembra Minera, S.A.:

In October 2016, together with an affiliate of the government of Venezuela, we established Siembra Minera. The primary purpose of this entity is to develop the Siembra Minera Project, as defined below.

Siembra Minera is beneficially owned 55% by Corporacion Venezolana de Mineria, S.A., a Venezuelan government corporation, and 45% by Gold Reserve. Siembra Minera (pursuant to the agreement which governs the formation and operation of Siembra Minera) holds certain gold, copper, silver and other strategic mineral rights (primarily comprised of the Brisas and Las Cristinas concessions) contained within Bolivar State comprising the Siembra Minera Project (which has a twenty year term with two ten year extensions) and is, among other things authorized, via current or future Presidential Decrees and Ministerial resolutions, to carry on its business, pay a net smelter return royalty to Venezuela on the future sale of gold, copper, silver and any other strategic minerals over the life of the Siembra Minera Project and provide net profits participation based on the sales price of gold per ounce. A number of authorizations, which still have not been provided by the current administration, are critical to the future operation and economics of the Siembra Minera Project. Pursuant to the Settlement Agreement, both parties will retain their respective interest in Siembra Minera in the event all of the agreed upon Settlement Agreement payments are not made by Venezuela.

On March 16, 2018, the Company announced the completion of a technical report for the Preliminary Economic Assessment ("PEA") for the Siembra Minera Project in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects which included, among other information, resource estimates, pit design, mine plan, flowsheet design, design criteria, project layout, infrastructure requirements, capital and operating estimates. The Company has directly incurred the costs associated with the Siembra Minera Project outside of Siembra Minera, which beginning in 2016 through December 31, 2019, amounted to a total of approximately $19.5 million. The Siembra Minera Project expenditures primarily include costs associated with the completion of the PEA that included a number of engineering, environmental and social third party advisors as well as costs associated with a number of social works programs in the vicinity of the Siembra Minera Project, which are expensed as incurred and classified within "Siembra Minera Project Costs" in the Consolidated Statements of Operations.

In addition to other constraints, the Sanctions restrict the Company from working with those Venezuelan government officials responsible for the operation of Siembra Minera and the development of the Siembra Minera Project which, until Sanctions are lifted, obstructs our ability to develop the Siembra Minera Project as originally planned.

KSOP Plan:

12 Months Ended

Dec. 31, 2019

KSOP Plan: [Abstract]

KSOP Plan:

Note 8. KSOP Plan:

The KSOP Plan, adopted in 1990 for retirement benefits of employees, is comprised of two parts, (1) a salary reduction component, and a 401(k) which includes provisions for discretionary contributions by us, and (2) an employee share ownership component, or ESOP. Allocation of Class A common shares or cash to participants' accounts, subject to certain limitations, is at the discretion of the Board. There have been no Class A common shares allocated to the KSOP Plan since 2011. Cash contributions for the KSOP years 2019 and 2018 were approximately $171,000 and $212,000, respectively.

Stock Based Compensation Plans:

12 Months Ended

Dec. 31, 2019

Stock Based Compensation Plans: [Abstract]

Stock Based Compensation Plans:

Note 9. Stock Based Compensation Plans:

Equity Incentive Plan

The Company's equity incentive plan provides for the grant of stock options to purchase up to a maximum of 8,750,000 of the Class A common shares. As of December 31, 2019, there were 2,307,000 options available for grant. Grants are made for terms of up to ten years with vesting periods as required by the TSXV and as may be determined by a committee of the Board established pursuant to the equity incentive plan.

Share option transactions for the years ended December 31, 2019 and 2018 are as follows:

	2019		2018
	Shares	Weighted Average Exercise Price	Shares	Weighted Average Exercise Price
Options outstanding - beginning of period	4,554,565	$ 3.11	5,091,565	$ 3.13
Options expired	(185,000)	3.43	(537,000)	3.32
Options outstanding - end of period	4,369,565	$ 3.09	4,554,565	$ 3.11

Options exercisable - end of period	4,369,565	$ 3.09	4,092,068	$ 3.10

The following table relates to stock options at December 31, 2019:

	Outstanding Options				Exercisable Options
Exercise Price	Number	Weighted Average Exercise Price	Aggregate Intrinsic Value	Weighted Average Remaining Contractual Term (Years)	Number	Weighted Average Exercise Price	Aggregate Intrinsic Value	Weighted Average Remaining Contractual Term (Years)
$1.92	444,922	$1.92	$ -	1.44	444,922	$1.92	$ -	1.44
$2.69	125,000	$2.69	-	7.33	125,000	$2.69	-	7.33
$3.15	3,369,643	$3.15	-	7.13	3,369,643	$3.15	-	7.13
$3.91	180,000	$3.91	-	5.49	180,000	$3.91	-	5.49
$4.02	250,000	$4.02	-	4.57	250,000	$4.02	-	4.57
$1.92 - $4.02	4,369,565	$3.09	$ -	6.34	4,369,565	$3.09	$ -	6.34

No options were granted during the years ended December 31, 2019 and 2018. The Company recorded non-cash compensation expense during the years ended December 31, 2019 and 2018 of approximately $31,000 and $0.3 million, respectively for stock options granted in prior periods.

Change of Control Agreements

The Company maintains change of control agreements with certain officers and employees. A Change of Control is generally defined as one or more of the following: the acquisition by any individual, entity or group, of beneficial ownership of the Company of 25 percent of the voting power of the outstanding Common Shares; a change in the composition of the Board that causes less than a majority of the current directors of the Board to be members of the incoming board; reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company; liquidation or dissolution of the Company; or any other event the Board reasonably determines constitutes a Change of Control. As of December 31, 2019, in the event of a change of control, the amount payable under these agreements was approximately $7.1 million. None of this amount has currently been recognized as a change of control is not considered probable at this time.

Income Tax:

12 Months Ended

Dec. 31, 2019

Income Tax: [Abstract]

Income Tax:

Note 10. Income Tax:

Income tax benefit for the years ended December 31, 2019 and 2018 differs from the amount that would result from applying Canadian tax rates to net income before taxes. These differences result from the items noted below:

	2019		2018
	Amount	%	Amount	%
Income tax expense (benefit) based on Canadian tax rates	$ (4,373,701)	(25)	$ 8,016,735	25
Increase (decrease) due to:
Different tax rates on foreign subsidiaries	305,766	2	(570,196)	(2)
Non-deductible expenses	81,592	-	1,016,377	3
Withholding tax	-	-	5,983,324	19
Worthless stock write-off	(4,347,907)	(25)	(12,712,678)	(40)
Previously unrecognized tax benefits	-	-	(13,197,148)	(41)
Change in valuation allowance and other	3,986,343	23	1,493,469	5
	$ (4,347,907)	(25)	$ (9,970,117)	(31)

The Company recorded income tax benefit of $4.3 million and $10.0 million for the years ended December 31, 2019 and 2018, respectively. We have recorded a valuation allowance to reflect the estimated amount of the deferred tax assets which may not be realized, principally due to the uncertainty of utilization of net operating losses and other carry forwards prior to expiration. The valuation allowance for deferred tax assets may be reduced in the near term if our estimate of future taxable income changes. The Company has an income tax receivable of $10.8 million related to prior year overpayments, which includes $4.3 million recorded during the twelve months ended December 31, 2019, resulting from revisions to management's estimates of the timing and amount of deductions available to the Company's U.S. subsidiary associated with the write-off of certain subsidiaries. The Company has filed an amended return which meets the recognition threshold for refund receivable as of December 31, 2019.

The income tax recovery for the year ended December 31, 2018 is a result of the deduction of capitalized costs incurred in the development of the Mining Data, the recognition of previously unrecognized Canadian tax losses, and the write-off of investments in subsidiaries that were dissolved during 2018. The tax benefit of the capitalized costs had not been recognized prior to the third quarter of 2018 when Venezuela completed all of the payments due under the agreement for sale of the Mining Data. The components of the Canadian and U.S. deferred income tax assets and liabilities as of December 31, 2019 and 2018 were as follows:

	December 31,
		2019		2018
Deferred income tax assets
Net operating loss carry forwards	$	34,569,939	$	31,362,816
Property, Plant and Equipment		4,742,961		3,226,994
Other		1,623,503		1,652,114
		40,936,403		36,241,924
Valuation allowance		(40,915,022)		(36,202,109)
	$	21,381	$	39,815

Deferred income tax liabilities
Other		(21,381)		(39,815)
Net deferred income tax liability	$	-	$	-

At December 31, 2019, we had the following U.S. and Canadian tax loss carry forwards stated in U.S. dollars.

	U.S.	Canadian	Expires
$		2,016,148	2026
		3,741,708	2027
		14,261,686	2028
		13,515,905	2029
		16,698,149	2030
		18,698,061	2031
		5,425,100	2032
		7,886,980	2033
		9,138,261	2034
		13,044,194	2035
		15,508,174	2036
		11,695,291	2037
		422,267	2038
		4,231,821	2039
	2,376,205
$	2,376,205	136,283,745

Return of Capital:

12 Months Ended

Dec. 31, 2019

Return of Capital: [Abstract]

Return of Capital:

Note 11. Return of Capital:

In June 2019, the Company completed a return of capital transaction by way of a court-approved plan of arrangement transaction under the Business Corporations Act (Alberta) which required approval by the Alberta Court of Queen's Bench and at least two-thirds of the votes of shareholders. Pursuant to the plan of arrangement, the Company returned to holders of its Class A common shares approximately $76 million or $0.76 per Class A Share.

Subsequent Event:

12 Months Ended

Dec. 31, 2019

Subsequent Event: [Abstract]

Subsequent Event:

Note 12. Subsequent Event:

In late 2019, a virus which causes coronavirus disease 2019 (COVID-19) was identified in Wuhan, Hubei, China. The virus subsequently spread throughout most of the world and in March 2020, COVID-19 was recognized as a pandemic by the World Health Organization. The Company is uncertain as to the extent that COVID-19 may impact its operations and asset values as it depends upon the severity of the outbreak and the actions taken to mitigate it.

Cash and Cash Equivalents: (Tables)

12 Months Ended

Dec. 31, 2019

Cash and Cash Equivalents: (Tables) [Abstract]

Cash and Cash Equivalents:

Note 4. Cash and Cash Equivalents:

		December 31,		December 31,
		2019		2018
Bank deposits	$	31,499,893	$	47,588,968
Short term investments		30,322,244		100,057,385
Total	$	61,822,137	$	147,646,353

Marketable Securities: (Tables)

12 Months Ended

Dec. 31, 2019

Marketable Securities: (Tables) [Abstract]

Marketable Securities:

Note 5. Marketable Securities:

		December 31,		December 31,
		2019		2018
Equity securities
Fair value at beginning of year	$	287,638	$	239,232
Increase (decrease) in fair value		(109,693)		48,406
Fair value at balance sheet date	$	177,945	$	287,638

Debt securities
Fair value at beginning of year	$	-	$	-
Acquisitions		-		88,500,000
Dispositions		-		(74,311,349)
Realized loss		-		(14,188,651)
Fair value at balance sheet date	$	-	$	-

Property, Plant and Equipment: (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment: (Tables) [Abstract]

Property, Plant and Equipment:

Note 6. Property, Plant and Equipment:

				Accumulated
		Cost		Depreciation		Net
December 31, 2019
Machinery and equipment	$	5,609,567	$	-	$	5,609,567
Furniture and office equipment		479,579		(360,224)		119,355
Transportation equipment		491,025		(132,827)		358,198
Leasehold improvements		51,658		(18,056)		33,602
Mineral property		350,000		-		350,000
	$	6,981,829	$	(511,107)	$	6,470,722

				Accumulated
		Cost		Depreciation		Net
December 31, 2018
Machinery and equipment	$	11,677,534	$	-	$	11,677,534
Furniture and office equipment		469,569		(333,828)		135,741
Transportation equipment		491,025		(34,622)		456,403
Leasehold improvements		51,658		(11,063)		40,595
Mineral property		350,000		-		350,000
	$	13,039,786	$	(379,513)	$	12,660,273

Stock Based Compensation Plans: (Tables)

12 Months Ended

Dec. 31, 2019

Stock Based Compensation Plans: (Tables) [Abstract]

Share option transactions

Share option transactions for the years ended December 31, 2019 and 2018 are as follows:

	2019		2018
	Shares	Weighted Average Exercise Price	Shares	Weighted Average Exercise Price
Options outstanding - beginning of period	4,554,565	$ 3.11	5,091,565	$ 3.13
Options expired	(185,000)	3.43	(537,000)	3.32
Options outstanding - end of period	4,369,565	$ 3.09	4,554,565	$ 3.11

Options exercisable - end of period	4,369,565	$ 3.09	4,092,068	$ 3.10

Options Outstanding and Exercisable

The following table relates to stock options at December 31, 2019:

	Outstanding Options				Exercisable Options
Exercise Price	Number	Weighted Average Exercise Price	Aggregate Intrinsic Value	Weighted Average Remaining Contractual Term (Years)	Number	Weighted Average Exercise Price	Aggregate Intrinsic Value	Weighted Average Remaining Contractual Term (Years)
$1.92	444,922	$1.92	$ -	1.44	444,922	$1.92	$ -	1.44
$2.69	125,000	$2.69	-	7.33	125,000	$2.69	-	7.33
$3.15	3,369,643	$3.15	-	7.13	3,369,643	$3.15	-	7.13
$3.91	180,000	$3.91	-	5.49	180,000	$3.91	-	5.49
$4.02	250,000	$4.02	-	4.57	250,000	$4.02	-	4.57
$1.92 - $4.02	4,369,565	$3.09	$ -	6.34	4,369,565	$3.09	$ -	6.34

Income Tax: (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax: (Tables) [Abstract]

Income tax benefit

	2019		2018
	Amount	%	Amount	%
Income tax expense (benefit) based on Canadian tax rates	$ (4,373,701)	(25)	$ 8,016,735	25
Increase (decrease) due to:
Different tax rates on foreign subsidiaries	305,766	2	(570,196)	(2)
Non-deductible expenses	81,592	-	1,016,377	3
Withholding tax	-	-	5,983,324	19
Worthless stock write-off	(4,347,907)	(25)	(12,712,678)	(40)
Previously unrecognized tax benefits	-	-	(13,197,148)	(41)
Change in valuation allowance and other	3,986,343	23	1,493,469	5
	$ (4,347,907)	(25)	$ (9,970,117)	(31)

Net deferred income tax liability

	December 31,
		2019		2018
Deferred income tax assets
Net operating loss carry forwards	$	34,569,939	$	31,362,816
Property, Plant and Equipment		4,742,961		3,226,994
Other		1,623,503		1,652,114
		40,936,403		36,241,924
Valuation allowance		(40,915,022)		(36,202,109)
	$	21,381	$	39,815

Deferred income tax liabilities
Other		(21,381)		(39,815)
Net deferred income tax liability	$	-	$	-

Loss carryforwards

At December 31, 2019, we had the following U.S. and Canadian tax loss carry forwards stated in U.S. dollars.

	U.S.	Canadian	Expires
$		2,016,148	2026
		3,741,708	2027
		14,261,686	2028
		13,515,905	2029
		16,698,149	2030
		18,698,061	2031
		5,425,100	2032
		7,886,980	2033
		9,138,261	2034
		13,044,194	2035
		15,508,174	2036
		11,695,291	2037
		422,267	2038
		4,231,821	2039
	2,376,205
$	2,376,205	136,283,745

The Company and Significant Accounting Policies: (Details Text)	Dec. 31, 2019
The Company and Significant Accounting Policies: [Abstract]
Siembra Minera beneficial ownership by Venezuela	55.00%
Siembra Minera beneficial ownership by Company	45.00%

New Accounting Policies: (Details Text) $ in Millions	Dec. 31, 2019 USD ($)
New Accounting Policies: [Abstract]
Lease liability and right of use asset	$ 0.3

Arbitral Award, Settlement Agreement and Mining Data Sale: (Details Text) $ in Millions	Dec. 31, 2019 USD ($)
Arbitral Award, Settlement Agreement and Mining Data Sale: [Abstract]
Total award	$ 740.3
Settlement Agreement	1,032.0
Venezuela agreed to pay to satisfy award	792.0
Venezuela agreed to pay for mining data	240.0
Payments made pursuant to settlement agreement	254.0
Amount deposited to trust account	165.5
Amount remaining in trust account	21.5
Government bonds received	88.5
Bonds sold for	74.3
Loss on sale of bonds	14.2
Amount due and unpaid including interest	886.0
Interest due	$ 108.0
Amount of proceeds cvr holders entitled to	5.466%
2019 increase in obligation to the CVR holders	$ 0.3
Cumulative amount paid to cvr holders	$ 10.0
Original bonus percentage of first two hundred million collected	1.00%
Original bonus percentage thereafter	5.00%
Modified bonus percentage of first two hundred million collected	1.28%
Modified bonus percentage thereafter	6.40%
2019 increase in obligation to the bonus plan participants	$ 0.3
Cumulative amount paid to bonus plan participants	$ 4.4

Cash and Cash Equivalents: (Details 1) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Cash And Cash Equivalents Detailsabstract [Abstract]
Bank deposits	$ 31,499,893	$ 47,588,968
Short term investments	30,322,244	100,057,385
Total	$ 61,822,137	$ 147,646,353

Cash and Cash Equivalents: (Details Text) $ in Millions	12 Months Ended
Cash and Cash Equivalents: (Details Text) $ in Millions	Dec. 31, 2018 USD ($)
Cash And Cash Equivalents Details Text [Abstract]
Impairment loss	$ 21.5

Marketable Securities: (Details 1) - USD ($)	12 Months Ended
Marketable Securities: (Details 1) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity securities
Fair value at beginning of year		$ 287,638	$ 239,232
Increase (decrease) in fair value	$ (109,693)	48,406
Fair value at balance sheet date	177,945	287,638
Debt securities
Fair value at beginning of year		0	$ 0
Acquisitions		88,500,000
Dispositions		(74,311,349)
Realized loss		(14,188,651)
Fair value at balance sheet date	$ 0	$ 0

Marketable Securities: (Details Text) $ in Millions	12 Months Ended
Marketable Securities: (Details Text) $ in Millions	Dec. 31, 2019 USD ($)
Marketable Securities Details Text [Abstract]
Loss on sale of marketable debt securities	$ 14.2

Property, Plant and Equipment: (Details 1) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment Details [Abstract]
Cost: Machinery and equipment	$ 5,609,567	$ 11,677,534
Accumulated Depreciation: Machinery and equipment	0	0
Net: Machinery and equipment	5,609,567	11,677,534
Cost: Furniture and office equipment	479,579	469,569
Accumulated Depreciation: Furniture and office equipment	(360,224)	(333,828)
Net: Furniture and office equipment	119,355	135,741
Cost: Transportation equipment	491,025	491,025
Accumulated Depreciation: Transportation equipment	(132,827)	(34,622)
Net: Transportation equipment	358,198	456,403
Cost: Leasehold improvements	51,658	51,658
Accumulated Depreciation: Leasehold improvements	(18,056)	(11,063)
Net: Leasehold improvements	33,602	40,595
Cost: Mineral property	350,000	350,000
Accumulated Depreciation: Mineral property	0	0
Net: Mineral property	350,000	350,000
Total cost property, plant and equipment	6,981,829	13,039,786
Total Accumulated Depreciation property, plant and equipment	(511,107)	(379,513)
Total net property, plant and equipment	$ 6,470,722	$ 12,660,273

Property, Plant and Equipment: (Details Text) - USD ($)	12 Months Ended
Property, Plant and Equipment: (Details Text) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment Details Textabstract [Abstract]
Writedown of PPE	$ 6,100,000	$ 14,000

Empresa Mixta Ecosocialista Siembra Minera, S. (Details Text) $ in Millions	Dec. 31, 2019 USD ($)
Empresa Mixta Ecosocialista Siembra Minera, S. [Abstract]
Siembra Minera beneficial ownership by Venezuela	55.00%
Siembra Minera beneficial ownership by Company	45.00%
Cumulative expenditures associated with Siembra Minera	$ 19.5

KSOP Plan: (Details Text) - USD ($)	12 Months Ended
KSOP Plan: (Details Text) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
KSOP Plan: [Abstract]
Cash contributions to the plan	$ 171,000	$ 212,000

Stock Based Compensation Plans: (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stock Based Compensation Plans Details One [Abstract]
Options outstanding - beginning of period	4,554,565	5,091,565
Weighted average exercise price - options outstanding	$ 3.09	$ 3.11	$ 3.13
Options exercisable - end of period	4,369,565	4,092,068
Weighted average exercise price - options exercisable	$ 3.09	$ 3.10
Options expired	(185,000)	(537,000)
Weighted average exercise price - options expired	$ 3.43	$ 3.32
Options outstanding - end of period	4,369,565	4,554,565

Stock Based Compensation Plans: (Details 2)	12 Months Ended
Stock Based Compensation Plans: (Details 2)	Dec. 31, 2019 USD ($) $ / shares shares
Stock Based Compensation Plans Details Two [Abstract]
Outstanding Options Number: $1.92 \| shares	444,922
Outstanding Options Weighted Average Exercise Price: $1.92 \| $ / shares	$ 1.92
Outstanding Options Aggregate Intrinsic Value: $1.92 \| $	$ 0
Outstanding Options Weighted Average Remaining Contractual Term (Years): $1.92	1 year 161 days
Exercisable Options Number: $1.92 \| shares	444,922
Exercisable Options Weighted Average Exercise Price: $1.92 \| $ / shares	$ 1.92
Exercisable Options Aggregate Intrinsic Value: $1.92 \| $	$ 0
Exercisable Options Weighted Average Remaining Contractual Term (Years): $1.92	1 year 161 days
Outstanding Options Number: $2.69 \| shares	125,000
Outstanding Options Weighted Average Exercise Price: $2.69 \| $ / shares	$ 2.69
Outstanding Options Aggregate Intrinsic Value: $2.69 \| $	$ 0
Outstanding Options Weighted Average Remaining Contractual Term (Years): $2.69	7 years 120 days
Exercisable Options Number: $2.69 \| shares	125,000
Exercisable Options Weighted Average Exercise Price: $2.69 \| $ / shares	$ 2.69
Exercisable Options Aggregate Intrinsic Value: $2.69 \| $	$ 0
Exercisable Options Weighted Average Remaining Contractual Term (Years): $2.69	7 years 120 days
Outstanding Options Number: $3.15 \| shares	3,369,643
Outstanding Options Weighted Average Exercise Price: $3.15 \| $ / shares	$ 3.15
Outstanding Options Aggregate Intrinsic Value: $3.15 \| $	$ 0
Outstanding Options Weighted Average Remaining Contractual Term (Years): $3.15	7 years 47 days
Exercisable Options Number: $3.15 \| shares	3,369,643
Exercisable Options Weighted Average Exercise Price: $3.15 \| $ / shares	$ 3.15
Exercisable Options Aggregate Intrinsic Value: $3.15 \| $	$ 0
Exercisable Options Weighted Average Remaining Contractual Term (Years): $3.15	7 years 47 days
Outstanding Options Number: $3.91 \| shares	180,000
Outstanding Options Weighted Average Exercise Price: $3.91 \| $ / shares	$ 3.91
Outstanding Options Aggregate Intrinsic Value: $3.91 \| $	$ 0
Outstanding Options Weighted Average Remaining Contractual Term (Years): $3.91	5 years 179 days
Exercisable Options Number: $3.91 \| shares	180,000
Exercisable Options Weighted Average Exercise Price: $3.91 \| $ / shares	$ 3.91
Exercisable Options Aggregate Intrinsic Value: $3.91 \| $	$ 0
Exercisable Options Weighted Average Remaining Contractual Term (Years): $3.91	5 years 179 days
Outstanding Options Number: $4.02 \| shares	250,000
Outstanding Options Weighted Average Exercise Price: $4.02 \| $ / shares	$ 4.02
Outstanding Options Aggregate Intrinsic Value: $4.02 \| $	$ 0
Outstanding Options Weighted Average Remaining Contractual Term (Years): $4.02	4 years 208 days
Exercisable Options Number: $4.02 \| shares	250,000
Exercisable Options Weighted Average Exercise Price: $4.02 \| $ / shares	$ 4.02
Exercisable Options Aggregate Intrinsic Value: $4.02 \| $	$ 0
Exercisable Options Weighted Average Remaining Contractual Term (Years): $4.02	4 years 208 days
Outstanding Options Number: $1.92 - $4.02 \| shares	4,369,565
Outstanding Options Weighted Average Exercise Price: $1.92 - $4.02 \| $ / shares	$ 3.09
Outstanding Options Aggregate Intrinsic Value: $1.92 - $4.02 \| $	$ 0
Outstanding Options Weighted Average Remaining Contractual Term (Years): $1.92 - $4.02	6 years 124 days
Exercisable Options Number: $1.92 - $4.02 \| shares	4,369,565
Exercisable Options Weighted Average Exercise Price: $1.92 - $4.02 \| $ / shares	$ 3.09
Exercisable Options Aggregate Intrinsic Value: $1.92 - $4.02 \| $	$ 0
Exercisable Options Weighted Average Remaining Contractual Term (Years): $1.92 - $4.02	6 years 124 days

Stock Based Compensation Plans: (Details Text) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Stock Based Compensation Plans Details Text [Abstract]
Maximum number of shares available under the plan	8,750
Options available for grant	2,300
Maximum term of options	10 years
Non-cash compensation expense	$ 30	$ 310
Amount payable in event of change of control	$ 7,100

Income Tax: (Details 1) - USD ($)	12 Months Ended
Income Tax: (Details 1) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Income Tax Details Oneabstract [Abstract]
Income tax expense (benefit) based on Canadian tax rates	$ (4,373,701)	$ 8,016,735
Increase (decrease) due to:
Different tax rates on foreign subsidiaries	305,766	(570,196)
Non-deductible expenses	81,592	1,016,377
Withholding tax	0	5,983,324
Worthless stock write-off	(4,347,907)	(12,712,678)
Previously unrecognized tax benefits	0	(13,197,148)
Change in valuation allowance and other	3,986,343	1,493,469
Income tax benefit	$ (4,347,907)	$ (9,970,117)

Income Tax: (Details 2) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax assets
Net operating loss carry forwards	$ 34,569,939	$ 31,362,816
Property, Plant and Equipment	4,742,961	3,226,994
Other deferred tax assets	1,623,503	1,652,114
Total deferred tax assets	40,936,403	36,241,924
Valuation allowance	(40,915,022)	(36,202,109)
Net deferred tax assets	21,381	39,815
Deferred income tax liabilities
Other deferred tax liability	(21,381)	(39,815)
Net deferred income tax liability	$ 0	$ 0

Income Tax: (Details 3)	Dec. 31, 2019 USD ($)
Income Tax Details Three [Abstract]
Canadian tax loss carryforward expiring 2026	$ 2,016,148
Canadian tax loss carryforward expiring 2027	3,741,708
Canadian tax loss carryforward expiring 2028	14,261,686
Canadian tax loss carryforward expiring 2029	13,515,905
Canadian tax loss carryforward expiring 2030	16,698,149
Canadian tax loss carryforward expiring 2031	18,698,061
Canadian tax loss carryforward expiring 2032	5,425,100
Canadian tax loss carryforward expiring 2033	7,886,980
Canadian tax loss carryforward expiring 2034	9,138,261
Canadian tax loss carryforward expiring 2035	13,044,194
Canadian tax loss carryforward expiring 2036	15,508,174
Canadian tax loss carryforward expiring 2037	11,695,291
Canadian tax loss carryforward expiring 2038	422,267
Canadian tax loss carryforward expiring 2039	4,231,821
Total Canadian tax loss carryforward	136,283,745
Total US tax loss carryforward	$ 2,376,205

Income Tax: (Details Text) - USD ($) $ in Millions	12 Months Ended
Income Tax: (Details Text) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Income Tax Details Text [Abstract]
Income tax benefit recorded by the Company	$ 4.3	$ 10.0
The company's income tax receivable	$ 10.8

Return of Capital: (Details Text) $ / shares in Units, $ in Millions	1 Months Ended
	Jun. 30, 2019 USD ($) $ / shares
Return of Capital: [Abstract]
Returned to shareholders \| $	$ 76
Returned to shareholders per share \| $ / shares	$ 0.76