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Note 2 - Investments and Restricted Cash
6 Months Ended
Jun. 30, 2014
Cash Restricted Cash And Investments [Abstract]  
Cash Restricted Cash And Investments [Text Block]

Note 2.    Investments and Restricted Cash


Investments


At June 30, 2014 and December 31, 2013, the fair values of our non-current investments were $7.5 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 bases of our non-current investments were approximately $9.1 million and $10.0 million, respectively, at June 30, 2014 and December 31, 2013.


At June 30, 2014, total unrealized loss positions of $2.4 million, net of unrealized gains of $0.5 million, for our non-current investments were included in accumulated other comprehensive loss.


Our non-current investments balance as of June 30, 2014 includes our ownership of approximately 29.4% of the outstanding common shares of Typhoon Exploration Inc. having a cost basis of $0.8 million and fair value of $1.0 million. This investment would have been accounted for under the equity method; however, we chose to apply the fair value option to the investment upon it meeting the criteria for equity method accounting during the second quarter of 2013. We individually evaluate the accounting treatment of our 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 June 30, 2014, we have no other investments that we have determined to 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 $0.9 million at June 30, 2014 and $5.2 million at December 31, 2013. The decrease in restricted cash was attributed to a modification of Casa Berardi's reclamation funding, which substituted a letter of credit from previously help cash collateral.