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FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2017
Financial Instruments [Abstract]  
Disclosure of financial liabilities
The following tables illustrate the classification of the Company's recurring fair value measurements for financial instruments within the fair value hierarchy and their carrying values and fair values as at December 31, 2017 and December 31, 2016:
 
 
 
December 31, 2017
 
December 31, 2016
 
Level
 
Carrying value
 
Fair value
 
Carrying value
 
Fair value
Financial Liabilities
 
 
 
 
 
 
 
 
 
Fair value through profit or loss
 
 
 
 
 
 
 
 
 
5% Convertible Debentures
3
 
$
—

 
$
—

 
$
13,294

 
$
13,294

Warrants
2
 
—

 
—

 
2,729

 
2,729

7% Convertible Debentures embedded derivative
3
 
10,963

 
10,963

 
15,127

 
15,127
Disclosure of gain (loss) on fair value of financial instruments
(Gain)/loss on fair value of financial instruments in the Statement of Operations includes the following components:
 
 
For the Years Ended 
 December 31,
 
 
2017
 
2016
Loss on fair value of 5% Convertible Debentures
 
$
317

 
$
17,235

(Gain)/loss on fair value of warrants
 
(86
)
 
2,322

Gain on warrant exercise
 
(193
)
 
—

(Gain)/loss on fair value of 7% Convertible Debentures embedded derivative
 
(2,095
)
 
3,812

Unrealized loss on non-hedge derivative contracts
 
—

 
2,307

 
 
$
(2,057
)
 
$
25,676
Schedule of changes in financial liabilities
The following table presents the changes in the warrants for the year ended December 31, 2017:
 
Fair value
Balance, December 31, 2016
$
2,729

Exercise
(2,643
)
Gain on fair value of warrants
(86
)
Balance, December 31, 2017
$
—

The following table presents the changes in the 7% Convertible Debentures embedded derivative for the year ended December 31, 2017:
 
Fair value
Balance, December 31, 2016
$
15,127

Gain on conversions
(2,069
)
Gain on fair value of 7% Convertible Debentures embedded derivative
(2,095
)
Balance, December 31, 2017
$
10,963

The following table presents the changes in the 5% Convertible Debentures for the year ended December 31, 2017:
 
Fair value
Balance, December 31, 2016
$
13,294

Repayment
(13,611
)
Loss on fair value in the period included in earnings
317

Balance, December 31, 2017
$
—
Disclosure of significant unobservable inputs used in fair value measurement of liabilities
The significant inputs used in the convertible note valuation are as follows:
 
December 31, 2017
 
December 31, 2016
Embedded derivative
 
 
 
Risk premium
7.9
%
 
12.9
%
Borrowing costs
15.0
%
 
10.0
%
Expected volatility
45.0
%
 
45.0
%
Remaining life (years)
3.6

 
4.6