Derivative Losses

12 Months Ended

Dec. 31, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Gains And Losses

DERIVATIVE GAINS AND LOSSES

The derivative mark-to-market losses/(gains) recorded in the Statement of Operations are comprised of the following amounts:

	For the years ended December 31,
	2012		2011			2010
Riverstone Resources, Inc. - warrants	$	162	$	(177	)	$	(216	)
Gold price derivatives	—		19,453			1,066
Derivative loss	$	162	$	19,276		$	850

	For the years ended December 31,
	2012		2011			2010
Realized loss	$	162	$	19,453		$	1,066
Unrealized gain	—		(177		)	(216		)
Derivative loss	$	162	$	19,276		$	850

TRUE GOLD MINING INC. - WARRANTS

In 2008, we received 2.0 million warrants from True Gold Mining Inc. ("TGM"), formerly Riverstone Resources Inc., as partial payment for the right to earn an ownership interest in our exploration projects in Burkina Faso. These warrants were exercisable through January 2012 at Cdn$0.45, and in January 2012, the TGM warrants were exercised, see Note 8.

GOLD PRICE DERIVATIVES

In January 2011, we entered into a series of put and call contracts covering 76,800 ounces of future gold production between February and December 2011. The contracts were spread evenly in each week over this period and structured as cashless collars with a floor of $1,200 per ounce and a cap of $1,457 per ounce. In early February 2011, we entered into a second set of put and call contracts covering 75,200 ounces of future gold production between February and December 2011. The contracts were spread evenly in each week during this period and structured as cashless collars with a floor of $1,200 per ounce and a cap of $1,503 per ounce. We did not enter into any additional put and call contracts during 2012, as a result there were no outstanding gold price contracts as of December 31, 2012.