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ACQUISITION OF EL PILAR MINE: | 9 Months Ended
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Sep. 30, 2016
ACQUISITION OF EL PILAR MINE: |
ACQUISITION OF EL PILAR MINE: | NOTE 4- ACQUISITION OF EL PILAR MINE: On July 6, 2015, the Company acquired 100% of the outstanding stock of Recursos Stingray de Cobre, S.A. de C.V. for $100.0 million, a company incorporated under the laws of Mexico whose principal holding is a 100% interest in the El Pilar mine concession. In the Company’s consolidated financial statements for the year ended December 31, 2015, amounts related to the acquisition were still provisional as the purchase was still in the measurement period. This period ended in the third quarter of 2016 and final amounts were determined as follows: Recognized amounts of identifiable assets acquired and liabilities assumed ($ in million)
|  | At September 30, 2016 |  | At December 31, 2015 |
Cash |  | $ | 0.1 |  | $ | 0.1 |
Trade accounts receivable |  | 0.3 |  | 0.3 |
Mining assets |  | 57.2 |  | 93.0 |
Value beyond proven and probable mineral reserves |  | 29.5 |  | — |
Exploration cost |  | 7.5 |  | 10.5 |
Deferred income tax asset |  | 5.5 |  | — |
Deferred income tax liability |  | (25.0 | ) | (24.7 | )
Trade accounts payable |  | (0.1 | ) | (3.6 | )
Total identifiable net assets |  | 75.0 |  | 75.6 |
Goodwill |  | 25.0 |  | 24.4 |
Total paid |  | $ | 100.0 |  | $ | 100.0 |
The Company has recorded goodwill of $25.0 million, representing the amount of the purchase price in excess of the fair value of the net assets acquired. This goodwill is attributable to future benefits that the Company expects to realize from the mine and will not be deductible for income tax purposes.

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