Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Measurements

Schedule of financial assets and liabilities at fair value

	Level 1		Level 2		Level 3		Total
	(in thousands)
At September 30, 2015
Assets:
Cash and cash equivalents	$	921	$	—	$	—	$	921
Short-term investments	75		—		—		75
Trade accounts receivable	67		—		—		67
	$	1,063	$	—	$	—	$	1,063
Liabilities:
Warrant liability	—		—		486		486
	$	—	$	—	$	486	$	486
At December 31, 2014
Assets:
Cash and cash equivalents	$	8,579	$	—	$	—	$	8,579
Liabilities:
KELTIP liability	$	93	$	—	$	—	$	93
Warrant liability	—		—		1,554		1,554
	$	93	$	—	$	1,554	$	1,647

Schedule of significant inputs to the valuation model

	September 30,			December 31,
	2015			2014
Company’s ending stock price	$	0.28		$	0.54
Company’s stock volatility	85		%	90		%
Applicable risk free interest rate	1.2		%	1.6		%

Summary of change in fair value of the warrant liability

	Fair Value Measurements
	Using Significant Unobservable
	Inputs (Level 3)
	Warrant Liabilities
	(in thousands)
Beginning balance at January 1, 2015	$	1,554
Change in estimated fair value	(1,068		)
Ending balance at September 30, 2015	$	486

Summary of the Company's non-recurring fair value measurements

	Level 1		Level 2		Level 3		Total
	(in thousands)
At September 30, 2015
Assets:
Mineral properties	$	—	$	—	$	1,354	$	1,354
	$	—	$	—	$	1,354	$	1,354