Available For Sale Investments

3 Months Ended

Mar. 31, 2013

Investments, Debt and Equity Securities [Abstract]

Available for Sale Investments

AVAILABLE FOR SALE INVESTMENTS

The following table presents changes in available for sale investments in the first three months of 2013 and the full year 2012:

	As of March 31, 2013				As of December 31, 2012
	TGM				TGM
	Fair Value			Shares	Fair Value			Shares
Balance at beginning of period	$	15,034		24,521,101	$	1,416		2,000,000
Acquisitions	—			—	17,117			23,676,301
Dispositions	—			—	(805		)	(1,155,200	)
OCI - unrealized loss	(5,618		)		(2,694		)
Balance at end of period	$	9,416		24,521,101	$	15,034		24,521,101

During the first quarter of 2012, we acquired shares of True Gold Mining Inc.("TGM") (formerly known as Riverstone Resources Inc.). The acquisition was accomplished through two transactions. The first was an exercise of two million warrants at an exercise price Cdn$0.45 for cash consideration of Cdn$0.9 million. The fair value of the shares acquired was $1.3 million. The second transaction was the sale of the Company's Burkina Faso subsidiary to TGM. The sale generated $6.6 million of cash plus 21.7 million TGM shares. We recognized the shares at their fair value of $15.8 million on February 2, 2012, when the sale was finalized. It is possible that some of these shares could be sold in large blocks at a future date via a negotiated agreement and such sales may be at a discount from the quoted price. Subsequent to December 31, 2012, the quoted market price of TGM's common stock has decreased, such that for the period ended March 31, 2013 we recognized through Comprehensive Income a loss of $5.6 million related to our holdings.