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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Cash paid to suppliers and employees $ 20,996 $ 32,379
Cash received from gold and silver sales 34,932 37,711
Dividends received from Minera Santa Cruz S.A. (note 5) 5,397 548
Interest received 220 87
Cash provided by operating activities 19,553 5,967
Cash flows from investing activities:    
Proceeds from reimbursement of equipment deposit (note 6) 961  
Proceeds from sale of investments (note 2) 470  
Acquisition of mineral property interests (note 4) (5,950)  
Additions to property and equipment (note 6) (252) (433)
Acquisition of investments (note 2) (398) (1,114)
Cash used in investing activities (5,169) (1,547)
Cash flows from financing activities:    
Withdrawal of short-term bank indebtedness (note 7)   5,764
Repayment of short-term bank indebtedness (note 7) (3,395)  
Return of capital distribution paid (note 8) (1,489)  
Share repurchase (note 8) (582)  
Proceed from exercise of stock options (note 9) 1,873  
Cash (used in) from financing activities (3,593) 5,764
Effect of exchange rate change on cash and cash equivalents 84 (193)
Increase in cash and cash equivalents 10,875 9,991
Cash and cash equivalents, beginning of period 25,874 12,380
Cash and cash equivalents, end of period 36,749 22,371
Reconciliation of net loss to cash provided by (used in) operating activities:    
Net income 21,338 (8,095)
Adjustments to reconcile net loss to from operating activities:    
(Income) loss from investment in Minera Santa Cruz S.A., net of amortization (note 5) (9,096) 2,323
Loss on reimbursement of equipment deposit (note 6) 541  
Impairment of mineral property interests and property and equipment (note 4)   28,542
Other-than-temporary impairment on marketable equity securities (note 2) 882  
Recovery of deferred income taxes (2,723) (13,484)
Gain on sale of marketable securities (note 2) (22) (4)
Stock-based compensation 491 754
Depreciation 497 480
Accretion of asset retirement obligation 257 591
Amortization of mineral property interests and asset retirement obligations 1,144 644
Foreign exchange (gain) loss (84) 193
Unrealized gain on derivative instrument (note 2) (1,719)  
Change in non-cash working capital items:    
Increase in VAT taxes receivable, net of collection of $9,523 (2015 - $4,062) 7,577 1,284
Increase (decrease) in other assets related to operations (3,304) (6,802)
Decrease in liabilities related to operations (1,622) (1,007)
Dividends received from Minera Santa Cruz S.A. 5,396 548
Cash provided by operating activities $ 19,553 $ 5,967