INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

INCOME TAXES

Schedule of Deferred Tax Assets and Liabilities

The significant components of the deferred tax asset at December 31, 2016 and 2015 were as follows (in thousands):

	December 31,		December 31,
	2016		2015
Operating loss carry forward	$	252,671	$	237,375
Unamortized exploration expense		5,368		6,221
Fixed asset depreciation		—		(227)
Deductible stock based compensation		5,184		1,630
Other		202		177
Deductible temporary difference	$	263,425	$	245,176
Taxable temporary difference — Investment in EMLLC	$	(129,639)	$	(127,325)
Senior convertible notes debt discount	$	(2,826)		(1,916)
Net deductible temporary difference	$	130,960	$	115,935
Deferred tax asset	$	45,836	$	40,577
Deferred tax asset valuation allowance	$	(45,836)	$	(40,577)
Net deferred tax asset	$	—	$	—