FAIR VALUE ACCOUNTING (Tables)

6 Months Ended

Jun. 30, 2013

FAIR VALUE ACCOUNTING

Schedule of assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy

	Fair Value as a June 30, 2013
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets:
Cash and cash equivalents	$	34,773	$	34,773	$	—	$	—
IVA taxes receivable	9,031		—		9,031		—
	$	43,804	$	34,773	$	9,031	$	—
Liabilities:
Accounts payable and accrued liabilities	$	10,694	$	—	$	10,694	$	—
	$	10,694	$	—	$	10,694	$	—

	Fair Value as at December 31, 2012
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets:
Cash and cash equivalents	$	70,921	$	70,921	$	—	$	—
IVA taxes receivable	9,150		—		9,150		—
	$	80,071	$	70,921	$	9,150	$	—
Liabilities:
Accounts payable and accrued liabilities	$	21,235	$	—	$	21,235	$	—
Litigation settlement liability	3,830		3,830		—		—
	$	25,065	$	3,830	$	21,235	$	—

Schedule of assets measured at fair value on a nonrecurring basis after initial recognition

	Fair Value as a June 30, 2013
	Total		Level 1		Level 2		Level 3		Total Loss
	(in thousands)
Mineral property interests
Telken Tenements	$	26,442	$	—	$	—	$	26,442	$	13,792
Este Tenements	5,337		—		—		5,337		2,784
Piramides Tenements	9,736		—		—		9,736		5,079
Tobias Tenements	11,645		—		—		11,645		6,074
Investment in MSC	176,282		—		—		176,282		95,878
	$	229,442	$	—	$	—	$	229,442	$	123,607

Summary of the quantity and qualitative information related to the unobservable inputs used in the calculation of the Company's non-recurring Level 3 financial assets

	Fair Value At		Valuation	Unobservable	Range /
	June 30, 2013		Technique	Input	Weighted Average
Investment in MSC	$	176,282	Discounted cash flow	Discount Rate	10.0%
				Long Term Gold Price	$1,300 per ounce
				Long Term Silver Price	$22.75 per ounce
				Argentina Inflation Index	10.0%
				United States Inflation Index	1.7%