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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Cash paid to suppliers and employees $ (59,903) $ (37,436)
Cash received from gold and silver sales 43,373 48,355
Dividends received from Minera Santa Cruz S.A. (note 5) 7,195 13,270
Interest received 112 222
Cash (used in) provided by operating activities (9,223) 24,411
Cash flows from investing activities:    
Acquisition of mineral property interests   (5,950)
Additions to property and equipment (944) (1,086)
Proceeds from sale of investments (note 2) 2,155 470
Acquisition costs of Lexam VG Gold, net of cash and cash equivalents acquired (note 15) (840)  
Proceeds from disposal of property and equipment 33 994
Acquisition of investments   (2,518)
Cash provided by (used in) investing activities 404 (8,090)
Cash flows from financing activities:    
Proceeds from equity issuance (note 8) 42,453  
Proceeds from warrants issuance (note 8) 4,122  
Share and warrant issuance costs (note 8) (3,353)  
Repayment of short-term bank indebtedness   (3,395)
Return of capital distribution (note 8) (3,059) (2,986)
Share repurchase   (582)
Proceeds from the exercise of stock options 47 3,500
Cash provided by (used) in financing activities 40,210 (3,463)
Effect of exchange rate change on cash and cash equivalents 131 80
Increase in cash and cash equivalents 31,522 12,938
Cash and cash equivalents, beginning of period 37,440 25,874
Cash and cash equivalents, end of period 68,962 38,812
Reconciliation of net (loss) income to cash provided by (used in) operating activities:    
Net (loss) income (12,800) 25,546
Adjustments to reconcile net (loss) income from operating activities:    
Loss (income) from investment in Minera Santa Cruz S.A., net of amortization (note 5) 535 (13,789)
Other-than-temporary impairment on marketable equity securities (note 2) 356 882
Gain (loss) on disposal of fixed assets (11) 517
Recovery of deferred income taxes (note 7) (3,067) (3,330)
Gain on sale of marketable securities (note 2) (840) (22)
Stock-based compensation (note 9) 1,082 770
Depreciation 1,125 809
Revision of estimates and accretion of asset reclamation obligations (note 6) 541 382
Amortization of mineral property interests and asset retirement obligations 1,513 1,845
Foreign exchange gain (131) (80)
Unrealized gain on derivative investments (note 2) (136) (1,522)
Change in non-cash working capital items:    
(Increase) decrease in VAT taxes receivable, net of collection of $1,610 (2016 - $9,523) (3,609) 6,759
Increase (decrease) in other assets related to operations (4,361) (8,156)
Increase in liabilities related to operations 3,385 530
Dividends received from Minera Santa Cruz S.A. (note 5) 7,195 13,270
Cash (used in) provided by operating activities $ (9,223) $ 24,411