Derivative Financial Instruments and Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2011


	2011		2012		2013		Thereafter
Palmarejo gold production royalty	$	14,712	$	24,865	$	25,097	$	78,140
Average gold price in excess of minimum contractual deduction	$	483	$	497	$	502	$	493
Notional ounces		30,435		50,004		50,004		158,393

Mexican peso forward purchase contracts	$	15,600	$	16,800	$	—	$	—
Average rate (MXP/$)	$	12.49	$	11.70	$	—	$	—
Mexican peso notional amount		194,771		196,568		—		—

Silver ounces receivable from Mandalay	$	764	$	1,535	$	—	$	—
Average silver forward price	$	18.33	$	18.42	$	—	$	—
Notional ounces		41,667		83,333		—		—

Silver concentrate sales agreements	$	13,398	$	—	$	—	$	—
Average silver price	$	39.28	$	—	$	—	$	—
Notional ounces		341,058		—		—		—

Gold concentrates sales agreements	$	11,384	$	—	$	—	$	—
Average gold price	$	1,524	$	—	$	—	$	—
Notional ounces		7,471		—		—		—

Gold put options purchased	$	1,800	$	2,880	$	1,800	$	720
Average gold strike price	$	887	$	923	$	928	$	991
Notional ounces		30,000		68,000		45,000		77,000

Gold call options sold	$	1,800	$	2,880	$	1,800	$	720
Average gold strike price	$	1,740	$	1,817	$	1,827	$	1,960
Notional ounces		30,000		68,000		45,000		77,000


	June 30, 2011
									Current		Non-current
	Prepaid		Other non-		Accrued		Other long-		portion of		portion of
	expenses and		current		liabilities and		term		royalty		royalty
	other		assets		other		liabilities		obligation		obligation
Silver ounces receivable from
Mandalay	$	1,378	$	680	$	—	$	—	$	—	$	—
Forward foreign exchange contracts		830		—		527		—		—		—
Palmarejo gold production royalty		—		—		—		—		33,425		131,466
Put and call options, net		—		—		1,449		11,623		—		—
Concentrate sales contracts		30		—		1,223		—		—		—

	$	2,238	$	680	$	3,199	$	11,623	$	33,425	$	131,466


	December 31, 2010
									Current		Non-current
	Prepaid		Other non-		Accrued		Other long-		portion of		portion of
	expenses and		current		liabilities and		term		royalty		royalty
	other		Assets		other		Liabilities		obligation		obligation
Gold lease facility	$	—	$	—	$	2,213	$	—	$	—	$	—
Gold forward contract		425		—		—		—		—		—
Silver ounces receivable from Mandalay		531		1,063		—		—		—		—
Forward foreign exchange contracts		328		—		323		—		—		—
Palmarejo gold production royalty		—		—		—		—		28,745		133,258
Put and call options, net		—		—		1,471		13,277		—		—
Concentrate sales contracts		1,703		—		23		—		—		—

	$	2,987	$	1,063	$	4,030	$	13,277	$	28,745	$	133,258


		Three months ended						Six months ended
		June 30,						June 30,
Financial statement line	Derivative	2011			2010			2011			2010
Sales of metal	Concentrate sales contracts	$	(1,515	)	$	(536	)	$	(2,873	)	$	51
Production costs applicable to sales	Forward foreign exchange contracts		859			489			1,111			40
Fair value adjustments, net	Gold lease facility		—			(2,137	)		(132	)		(2,729	)
Fair value adjustments, net	Forward foreign exchange contracts		(707	)		(1,649	)		298			(1,192	)
Fair value adjustments, net	Forward gold contract		—			—			35			—
Fair value adjustments, net	Silver ounces receivable		(368	)		—			464			—
Fair value adjustments, net	Palmarejo gold royalty		(13,731	)		(33,663	)		(20,041	)		(38,512	)
Fair value adjustments, net	Franco-Nevada warrant		—			1,030			—			2,333
Fair value adjustments, net	Put and call options		2,374			(6,097	)		1,676			(6,674	)

		$	(13,088	)	$	(42,563	)	$	(19,462	)	$	(46,683	)