Prepaid expenses and other current assets

6 Months Ended

Jun. 30, 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:

	June 30,		December 31,
	2012		2011
	(in thousands)
Prepaid insurance	$	489	$	590
Prepaid contractor fees and vendor advances	1,219		1,557
Accounts receivable	647		682
Royalty receivable	218		—
Recoupable deposits and other	268		290
	$	2,841	$	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 which was settled during July 2012.

Included in non-current assets at June 30, 2012 and December 31, 2011 were approximately $0.2 million and $0.3 million, respectively of prepaid insurance on which amortization will be recognized through 2015.