Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdFinancial_Report.xls
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR5.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR3.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR1.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR8.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR4.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR9.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR6.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR7.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR2.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR14.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR13.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR20.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR23.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR24.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR15.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR10.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR18.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR25.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR17.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR21.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR19.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR12.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR16.htm
XML - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdR22.htm
EX-31.1 - CERTIFICATION OF THE CEO - Grand China Energy Group Ltdexhibit31-1.htm
EX-32.1 - CERTIFICATION OF THE CEO - Grand China Energy Group Ltdexhibit32-1.htm
EX-31.2 - CERTIFICATION OF THE CFO - Grand China Energy Group Ltdexhibit31-2.htm
10-K - ANNUAL REPORT - Grand China Energy Group Ltdform10k.htm
EX-32.2 - CERTIFICATION OF THE CFO - Grand China Energy Group Ltdexhibit32-2.htm
v2.4.0.6
PREPAID EXPENSES AND DEPOSITS
12 Months Ended
Dec. 31, 2011
PREPAID EXPENSES AND DEPOSITS [Text Block]
6

PREPAID EXPENSES AND DEPOSITS


    2011     2010  
          (Restated)  
         
             
Prepaid construction material and labour costs (i)   -     2,065,542  
Safety risk deposit (ii)   158,707     150,996  
Prepaid mining license fee (iii)   349,156     -  
Prepaid rental fee   22,749     -  
Other prepaid expense   5,921     -  
             
Subtotal   536,533     2,216,538  
Current portion   (28,670 )   (2,065,542 )
             
Non-current   507,863     150,996  

Notes:

(i)

The payment relates to the new shaft under construction which has been fully settled during the year ended December 31, 2011.

 

 

(ii)

On August 26, 2005, an one-off safety risk deposit equivalent to RMB 1.0 million was paid to the Yongding County Coal Development Company as a representative of the Yongding County Coal Industry Management Bureau according to the Yongding County Coal Mine Safety Risk Deposit Management Measures (effective as of July 1, 2005).

 

 

(iii)

The prepayment (equivalent to RMB 2,200,000) associated with issuance of our new mining permit on the new extended mining area obtained in May 2011. The exact total fees payable and payment terms for issuance of the new mining permit is expected to be known by the end of 2012 from the Fujian Provincial Department of Land and Resources Mining Development Management Bureau.