Financial Instruments

3 Months Ended

Mar. 31, 2012

Fair Value Disclosures [Abstract]

Financial Instruments

FINANCIAL INSTRUMENTS

The following tables illustrate the classification of the Company's financial instruments within the fair value hierarchy as of March 31, 2012. The three levels of the fair value hierarchy are:

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities;

Level 2 - Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and

Level 3 - Inputs that are not based on observable market data.

	Financial assets measured at fair value as at
	March 31, 2012
	Level 1		Level 2		Level 3		Total
Available for sale investments	$	14,368	$	—	$	—	$	14,368
	$	14,368	$	—	$	—	$	14,368

Available for sale investments in Level 1 are based on the quoted market price for the equity investment. It is possible that some of these investments could be sold in large blocks at a future date via a negotiated agreement and such agreements may include a discount from the quoted price.

	Financial liabilities measured at fair value as at
	March 31, 2012
	Level 1		Level 2		Level 3		Total
Convertible debentures	$	123,750	$	—	$	—	$	123,750
	$	123,750	$	—	$	—	$	123,750

The convertible senior unsecured debentures are recorded at fair value. The debentures are valued based on recent observable trading of the debentures. The $123.8 million fair value includes $1.4 million of accrued interest as of March 31, 2012.

	Financial assets measured at fair value as at
	December 31, 2011
	Level 1		Level 2		Level 3		Total
Available for sale investments	$	1,416	$	—	$	—	$	1,416
Warrants	—		555		—		555
	$	1,416	$	555	$	—	$	1,971

	Financial liabilities measured at fair value as at
	December 31, 2011
	Level 1		Level 2		Level 3		Total
Convertible debentures	$	121,625	$	—	$	—	$	121,625
	$	121,625	$	—	$	—	$	121,625

During the period ended March 31, 2012, an unrealized loss of $0.9 million (2011: gain of $18.2 million) was recorded in the Statement of Operations relating to the change in fair value of the convertible debentures.