Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value Disclosures [Abstract]

Financial assets and liabilities measured at fair value on recurring basis

The following table sets forth the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):

	Fair Value at September 30, 2012
	Total		Level 1		Level 2		Level 3
Assets:
Short term investments	657		657		—		—
Marketable equity securities	31,243		29,694		1,549		—
Other derivative instruments, net	1,440		—		1,440		—
Silver ounces receivable from Mandalay	676		—		676		—
	$	34,016	$	30,351	$	3,665	$	—
Liabilities:
Royalty obligation embedded derivative	$	170,153	$	—	$	170,153	$	—
Put and call options	16,755		—		16,755		—
	$	186,908	$	—	$	186,908	$	—

	Fair Value at December 31, 2011
	Total		Level 1		Level 2		Level 3
Assets:
Short term investments	20,254		20,254		—		—
Marketable securities	19,844		19,844		—		—
Put and call options	3,040		—		3,040		—
Silver ounces receivable from Mandalay	814		—		814		—
	$	43,952	$	40,098	$	3,854	$	—
Liabilities:
Royalty obligation embedded derivative	$	159,400	$	—	$	159,400	$	—
Put and call options	20,892		—		20,892		—
Other derivative instruments, net	4,012		—		4,012		—
	$	184,304	$	—	$	184,304	$	—

Financial Assets and Liabilities not Measured at Fair Value

Financial assets and liabilities that are not measured at fair value at September 30, 2012 and December 31, 2011 are set forth in the following table (in thousands):

	Fair Value at September 30, 2012
	Total		Level 1		Level 2		Level 3
Liabilities:
3.25% Convertible Senior Notes	$	49,607	$	49,607	$	—	$	—
Palmarejo Gold Production Royalty Obligation	$	94,701	$	—	$	94,701	$	—

	Fair Value at December 31, 2011
	Total		Level 1		Level 2		Level 3
Liabilities:
3.25% Convertible Senior Notes	$	49,205	$	49,205	$	—	$	—
Palmarejo Gold Production Royalty Obligation	$	111,257	$	—	$	111,257	$	—