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Note 2 - Investment and Restricted Cash
3 Months Ended
Mar. 31, 2014
Cash Restricted Cash And Investments [Abstract]  
Cash Restricted Cash And Investments [Text Block]

Note 2.    Investments and Restricted Cash


Investments


At March 31, 2014 and December 31, 2013, the fair value of our non-current investments was $8.7 million and $7.0 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 $9.5 million and $10.0 million at March 31, 2014 and December 31, 2013, respectively.


At March 31, 2014, total unrealized loss positions of $1.7 million, net of unrealized gains of $0.9 million, for our non-current investments were included in accumulated other comprehensive loss on our condensed consolidated balance sheet.


Our non-current investments balance as of March 31, 2014 includes our ownership of approximately 29.4% of the


outstanding common shares of Typhoon Exploration Inc. having a cost basis of $0.7 million and fair value of $1.7 million. We elected to apply the fair value option accounting method to the investment upon it meeting the criteria for equity method accounting during the second quarter of 2013. Since the acquisition, we have unrealized gains of $0.9 million that are included in unrealized gain (loss) on investments on our condensed consolidated statement of operations and comprehensive income. We evaluate the accounting treatment of our individual investments based on whether we believe our ownership percentage and other factors indicate that we have the ability to exercise significant influence in the financial and/or operational decisions of the investee. As of March 31, 2014, we have determined that no other investments held by us qualify for equity method accounting.


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 $7.7 million and $5.2 million at March 31, 2014 and December 31, 2013, respectively. Restricted investments primarily represent investments in money market funds and certificates of deposit.