Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, future settlement

At June 30, 2016, the Company had the following derivative instruments that settle as follows:

In thousands except average prices and notional ounces	2016		Thereafter
Palmarejo gold production royalty	$	7,487	$	—
Average gold price in excess of minimum contractual deduction	$	882	$	—
Notional ounces	8,493		—
Provisional silver sales	$	10,016	$	—
Average silver price	$	18.28	$	—
Notional ounces	547,940		—
Provisional gold sales	$	43,839	$	—
Average gold price	$	1,257	$	—
Notional ounces	34,876		—

Fair value of the derivative instruments

The following summarizes the classification of the fair value of the derivative instruments:

	June 30, 2016
In thousands	Prepaid expenses and other		Accrued liabilities and other		Current portion of royalty obligation		Non-current portion of royalty obligation
Palmarejo gold production royalty	—		—		3,317		—
Provisional silver and gold sales contracts	841		186		—		—
	$	841	$	186	$	3,317	$	—

	December 31, 2015
In thousands	Prepaid expenses and other		Accrued liabilities and other		Current portion of royalty obligation		Non-current portion of royalty obligation
Palmarejo gold production royalty	—		—		4,957		—
Provisional silver and gold sales contracts	28		536		—		—
	$	28	$	536	$	4,957	$	—

Gain losses on derivative instruments

The following represent mark-to-market gains (losses) on derivative instruments for the three and six months ended June 30, 2016 and 2015 (in thousands):

		Three months ended June 30,						Six months ended June 30, 2016
Financial statement line	Derivative	2016			2015			2016			2015
Revenue	Provisional silver and gold sales contracts	$	597		$	(623	)	$	1,163		$	291
Fair value adjustments, net	Palmarejo gold royalty	(878		)	385			(5,756		)	(1,160		)
Fair value adjustments, net	Silver and gold options	(14		)	1,232			(1,582		)	185
		$	(295	)	$	994		$	(6,175	)	$	(684	)