Accounts Payable and Other Accrued Liabilities

3 Months Ended

Mar. 31, 2013

Accounts Payable and Other Accrued Liabilities

Accounts Payable and Other Accrued Liabilities

10.   Accounts Payable and Other Accrued Liabilities

The Company’s accounts payable and other accrued liabilities consist of the following:

	March 31,		December 31,
	2013		2012
	(in thousands)
Accounts payable and accruals	$	2,263	$	4,098
Accrued employee compensation and benefits	2,242		2,134
	$	4,505	$	6,232

March 31, 2013

Accounts payable and accruals at March 31, 2013 are primarily related to amounts due to contractors and suppliers in the amounts of $1.9 million, $0.3 million and $0.1 million related to the Company’s Velardeña Operations, corporate administrative activities and exploration, respectively.

Accrued employee compensation and benefits at March 31, 2013 consist of $0.3 million of accrued vacation payable, $0.6 million of accrued severance payments and $1.3 million related to withholding taxes and benefits payable, of which $1.7 million, including the severance accrual, is related to activities at the Velardeña Operations.

December 31, 2012

Accounts payable and accruals at December 31, 2012 are primarily related to amounts due to contractors and suppliers in the amounts of $3.0 million, $0.7 million and $0.4 million related to the Company’s Velardeña Operations, corporate administrative activities and exploration, respectively.

Accrued employee compensation and benefits at December 31, 2012 consist of $0.1 million of accrued vacation payable and $2.0 million related to withholding taxes and benefits payable, of which $1.7 million is related to activities at the Velardeña Operations.