Prepaid expenses and other current assets

3 Months Ended

Mar. 31, 2012

Prepaid expenses and other current assets

Prepaid expenses and other current assets

5.     Prepaid expenses and other current assets

Prepaid expenses and other current assets consist of the following:

	March 31,		December 31,
	2011		2011
	(in thousands)
Prepaid insurance	$	402	$	590
Prepaid contractor fees and vendor advances	1,026		1,557
Accounts receivable	723		682
Recoupable deposits and other	512		290
	$	2,663	$	3,119

The prepaid contractor fees and vendor advances consist of advance payments made to equipment manufacturers, contractors and suppliers primarily at the Company’s Velardeña Operations in Mexico.

The account receivable is related to the sale of the Company’s Paca Pulacayo property in Bolivia and is expected to be settled during July 2012.

Included in non-current assets at March 31, 2012 and December 31, 2011 were approximately $0.3 million of prepaid insurance on which amortization will be recognized through 2015.