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EXCEL - IDEA: XBRL DOCUMENT - ARX Gold CorpFinancial_Report.xls
10-Q/A - FORM 10-Q AMENDMENT (TO FILE XBRL) - ARX Gold Corpdaulton_10qa-073112.htm
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1. Basis of Presentation and Nature of Operations
15 Months Ended
Jul. 31, 2012
Disclosure Text Block [Abstract]  
1. Basis of Presentation and Nature of Operations

These unaudited interim financial statements as of and for the three months ended July 31, 2012 reflect all adjustments which, in the opinion of management, are necessary to present fairly the financial position, results of operations and cash flows for the period presented in accordance with the accounting principles generally accepted in the United States of America. All adjustments are of a normal recurring nature.

These unaudited interim financial statements should be read in conjunction with the Company’s financial statements and notes thereto included in the Company’s April 30, 2012 report on Form 10-K. The Company assumes that the users of the interim financial information herein have read, or have access to, the audited financial statements for the preceding period, and that the adequacy of additional disclosure needed for a fair presentation may be determined in that context. The results of operations for the three month period ended July 31, 2012 are not necessarily indicative of results for the entire year ending April 30, 2013.

Organization

Daulton Capital Corporation (the “Company”) was incorporated under the laws of the State of Nevada July 8, 2008. The Company was organized for the purpose of engaging in any activity or business not in conflict with the laws of the State of Nevada or of the United States of America. The Company became is now engaged in the gold resource industry.

 

Current Business of the Company

Daulton Capital Corp is an United States based junior gold exploration company with gold exploration and development activities centered on The ARX Springs Gold property, located at Coonambula near Eidsvold in Queensland, Australia. ARX Springs has significant gold resources and is estimated to generate a potential cash flow of $22 billion over the planned 20 plus year life of the mine based on current gold prices. Queensland, Australia is well known to be a prolific gold producing State since the 1867 Australian gold rush, and several major gold producing companies including BHP, Glencore Xstrata, Rio Tinto, Barrick Gold and Anglo American have been active in the area where the ARX Springs gold project is located.