Emgold had two real estate properties located in Nevada County that were part of the Company’s former Idaho-Maryland Project. On 15 March 2016, the Company sold 27 acres of land with net proceeds of $319,705. The proceeds of the sale are being used for general working capital. Emgold has a remaining 7.13 acre parcel of land that is currently listed for sale.
| SALE OF IDAHO-MARYLAND PROJECT | Idaho-Maryland | |||
| Sale of property | $ | 350,000 | ||
| Selling Costs | (30,295 | ) | ||
| Net Proceeds | 319,705 | |||
| Cost of property | 336,056 | |||
| Loss on sale | $ | (16,351 | ) | |
| ASSETS HELD FOR SALE | Assets Held for Sale | |||
| Balance at 01 January 2016 | $ | 490,508 | ||
| Disposition of assets | (336,056 | ) | ||
| Balance at 31 December 2016 and 31 December 2017 | $ | 154,452 | ||