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RECLAMATION OBLIGATIONS (Tables)
12 Months Ended
Dec. 31, 2016
RECLAMATION OBLIGATIONS  
Schedule of reclamation expense

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

    

2016

    

2015

    

2014

Reclamation Adjustment reflecting updated estimates

 

$

89

 

$

 —

 

$

 —

Reclamation Accretion

 

 

506

 

 

429

 

 

407

Total

 

$

595

 

$

429

 

$

407

 

Schedule of reconciliation of asset retirement obligations

 

 

 

 

 

 

 

 

    

2016

    

2015

Balance at beginning of the period

 

$

7,784

 

$

7,471

Settlements

 

 

(66)

 

 

 —

Accretion of liability

 

 

506

 

 

429

Adjustment reflecting updated estimates

 

 

1,619

 

 

(116)

Balance at December 31

 

$

9,843

 

$

7,784

Current portion

 

 

(537)

 

 

(215)

Non-current portion

 

$

9,306

 

$

7,569

 

Schedule of assumptions in the calculation of asset retirement obligations

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

    

2016

    

2015

Undiscounted Cash Flows

 

$

10.7 million

 

$

9.5 million

Remediation timeline

 

 

2017-2025

 

 

2016-2022

Inflation rate

 

 

1.6-2.4%

 

 

1.4-1.7%

Credit adjusted risk free rate

 

 

4.2-4.6%

 

 

6.8%