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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Cash paid to suppliers and employees $ 37,436 $ 43,168
Cash received from gold and silver sales 48,355 59,246
Dividends received from Minera Santa Cruz S.A. (note 5) 13,270 548
Interest received 222 10
Cash provided by operating activities 24,411 16,636
Cash flows from investing activities:    
Proceeds from sale of investments (note 2) 470  
Proceeds from disposal of property and equipment (note 6) 994 13
Acquisition of mineral property interests (note 4) (5,950)  
Additions to property and equipment (note 6) (1,086) (535)
Acquisition of investments (note 2) (2,518) (1,114)
Cash used in investing activities (8,090) (1,636)
Cash flows from financing activities:    
Proceeds from short-term bank indebtedness (note 7)   5,171
Repayment of short-term bank indebtedness (note 7) (3,395)  
Return of capital distribution (note 8) (2,986) (1,502)
Share repurchase (note 8) (582)  
Proceeds from exercise of stock options (note 8) 3,500  
Cash (used in) provided from financing activities (3,463) 3,669
Effect of exchange rate change on cash and cash equivalents 80 (147)
Increase in cash and cash equivalents 12,938 18,522
Cash and cash equivalents, beginning of period 25,874 12,380
Cash and cash equivalents, end of period 38,812 30,902
Reconciliation of net loss to cash provided by (used in) operating activities:    
Net income (loss) 25,546 (5,462)
Adjustments to reconcile net income (loss) from operating activities:    
(Income) loss from investment in Minera Santa Cruz S.A., net of amortization (note 5) (13,789) 3,964
Loss (gain) on disposal of fixed assets (note 6) 517 (13)
Impairment of mineral property interests and property and equipment (note 4)   29,740
Other-than-temporary impairment on marketable equity securities (note 2) 882  
Recovery of deferred income taxes (3,330) (15,103)
Gain on sale of marketable securities (note 2) (22)  
Stock-based compensation 770 1,047
Depreciation 809 691
Accretion of asset retirement obligation 382 697
Amortization of mineral property interests and asset retirement obligations 1,845 966
Foreign exchange (gain) loss (80) 147
Unrealized gain on derivative instrument (note 2) (1,522)  
Change in non-cash working capital items:    
Decrease in VAT taxes receivable, net of collection of $9,523 (2015 - $4,062) 6,759 884
(Decrease) increase in other assets related to operations (8,156) 244
Increase (decrease) in liabilities related to operations 530 (1,714)
Dividends received from Minera Santa Cruz S.A. (note 5) 13,270 548
Cash provided by operating activities $ 24,411 $ 16,636