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FAIR VALUE ACCOUNTING (Tables)
9 Months Ended
Sep. 30, 2013
FAIR VALUE ACCOUNTING  
Schedule of assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy

 

 

 

 

Fair Value as a September 30, 2013

 

 

 

Total

 

Level 1

 

Level 2

 

Level 3

 

 

 

(in thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

31,062

 

$

31,062

 

$

 

$

 

IVA taxes receivable

 

10,129

 

 

10,129

 

 

 

 

$

41,191

 

$

31,062

 

$

10,129

 

$

 

Liabilities:

 

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$

10,041

 

$

38

 

$

10,003

 

$

 

 

 

$

10,041

 

$

38

 

$

10,003

 

$

 

 

 

 

Fair Value as at December 31, 2012

 

 

 

Total

 

Level 1

 

Level 2

 

Level 3

 

 

 

(in thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

70,921

 

$

70,921

 

$

 

$

 

IVA taxes receivable

 

9,150

 

 

9,150

 

 

 

 

$

80,071

 

$

70,921

 

$

9,150

 

$

 

Liabilities:

 

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$

21,235

 

$

 

$

21,235

 

$

 

Litigation settlement liability

 

3,830

 

3,830

 

 

 

 

 

$

25,065

 

$

3,830

 

$

21,235

 

$

 

Summary of the quantitative and qualitative information related to the unobservable inputs used in the calculation of the Company's non-recurring Level 3 fair value measurements

 

 

 

 

Valuation

 

Unobservable

 

Range /

 

 

 

Technique

 

Input

 

Weighted Average

 

Investment in MSC

 

Discounted cash flow

 

Discount Rate
Long Term Gold Price
Long Term Silver Price
Argentina Inflation Index
United States Inflation Index

 

10.0%
$1,300 per ounce

$22.75 per ounce
10.0%
1.7%