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Note 2. Investments and Restricted Cash
9 Months Ended
Sep. 30, 2012
Investments And Restricted Cash
Note 2.    Investments and Restricted Cash

Investments

At September 30, 2012 and December 31, 2011, the fair value of our non-current investments was $9.0 million and $3.9 million, respectively.  Our non-current investments consist of marketable equity securities, which are carried at fair value as they are classified as “available-for-sale.” The cost basis of our non-current investments was approximately $6.8 million and $3.5 million at September 30, 2012 and December 31, 2011, respectively.  The increase in the basis of non-current investments is related to an acquisition of $3.3 million of equity securities in August 2012.

At September 30, 2012, total unrealized gain positions of $2.9 million, net of unrealized losses of $0.6 million, for our non-current investments were included in accumulated other comprehensive loss.

Restricted Cash and Investments

Various laws, permits, and covenants require that financial assurances be in place for certain environmental and reclamation obligations and other potential liabilities.  These restricted investments are used primarily for reclamation funding or for funding surety bonds, and were $0.9 million at September 30, 2012 and December 31, 2011. Restricted investments primarily represent investments in money market funds and certificates of deposit.