2. OTHER ASSETS

(a) Other current assets

	As at December 31,

	2012		2011

Federal, provincial and other sales taxes receivable	$36,400	$	51,603

Prepaid expenses	36,119		25,540

Meadowbank insurance receivable	6,553		8,765

Prepaid royalty⁽ⁱ⁾	–		7,684

Employee loans receivable	1,800		5,567

Retirement compensation arrangement plan refundable tax receivable	4,044		–

Other	8,061		11,210

	$92,977	$	110,369

(b) Available-for-sale securities

In 2012, the Company received proceeds of $73.4 million (2011 – $9.4 million; 2010 – $36.6 million) and recognized a gain before income taxes of $9.7 million (2011 – $4.9 million; 2010 – $19.5 million) on the sale of certain available-for-sale securities.

Available-for-sale securities consist of equity securities whose cost basis is determined using the average cost method. Available-for-sale securities are carried at fair value and comprise the following:

	As at December 31,

	2012		2011

Available-for-sale securities in an unrealized gain position:

Cost (net of impairments)	$ 4,352		$127,344

Unrealized gains in accumulated other comprehensive loss	1,902		16,408

Estimated fair value	6,254		143,752

Available-for-sale securities in an unrealized loss position:

Cost (net of impairments)	48,047		1,717

Unrealized losses in accumulated other comprehensive loss	(9,582	)	(58	)

Estimated fair value	38,465		1,659

Total estimated fair value of available-for-sale securities	$44,719		$145,411

The Company's investments in available-for-sale securities consist primarily of investments in common shares of entities in the mining industry. During the course of the year, certain available-for-sale securities fell into an unrealized loss position. In each case, the Company evaluated the near-term prospects of the issuers in relation to the severity and duration of the impairment. During the year ended December 31, 2012, the Company recorded a $12.7 million (2011 – $8.6 million) impairment loss on certain available-for-sale securities that were determined to be other-than-temporarily impaired.

At December 31, 2012, the fair value of available-for-sale securities in an unrealized loss position was $38.5 million (2011 – $1.7 million) with total unrealized losses in accumulated other comprehensive loss of $9.6 million (2011 – $0.1 million). Based on an evaluation of the severity and duration of the impairment of these available-for-sale securities (less than three months) and on the Company's intent to hold them for a period of time sufficient for a recovery of fair value, the Company does not consider these available-for-sale securities to be other-than-temporarily impaired as at December 31, 2012.

(c) Other assets

	As at December 31,

	2012	2011

Deferred financing costs, less accumulated amortization of $8,888 (2011 – $5,809)	$15,836	$15,777

Long-term ore in stockpile⁽ⁱ⁾	32,711	64,392

Other	7,291	7,879

	$55,838	$88,048

Note:

(i)

Due to the ore body structures at the Pinos Altos, Kittila and Meadowbank mines, a significant amount of drilling and blasting was undertaken early in their mine lives, resulting in long-term ore stockpiles. At December 31, 2012, long-term ore stockpiles were valued at $14.8 million (2011 – $7.1 million) at the Pinos Altos mine (including the Creston Mascota deposit at Pinos Altos), $7.7 million (2011 – $8.0 million) at the Kittila mine and $10.2 million (2011 – $49.3 million) at the Meadowbank mine.