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AVAILABLE-FOR-SALE SECURITIES | 6 Months Ended
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Dec. 31, 2014
AVAILABLE-FOR-SALE SECURITIES |
AVAILABLE-FOR-SALE SECURITIES | 4.AVAILABLE-FOR-SALE SECURITIES The Company’s available-for-sale securities as of December 31, 2014 and June 30, 2014 consist of the following:
|  | As of December 31, 2014 |
|  |  |  | (Amounts in thousands) |  |  |
|  |  |  | Unrealized |  |  |
|  | Cost Basis |  | Gain |  | Loss |  | Fair Value |
Non-current: |  |  |  |  |  |  |  |  |
Seabridge |  | $ | 9,565 |  | — |  | (1,826 | ) | $ | 7,739 |
Other |  | 203 |  | — |  | (154 | ) | 49 |
|  | $ | 9,768 |  | $ | — |  | $ | (1,980 | ) | $ | 7,788 |
|  | As of June 30, 2014 |
|  |  |  | (Amounts in thousands) |  |  |
|  |  |  | Unrealized |  |  |
|  | Cost Basis |  | Gain |  | Loss |  | Fair Value |
Non-current: |  |  |  |  |  |  |  |  |
Seabridge |  | $ | 9,565 |  | — |  | — |  | $ | 9,565 |
Other |  | 203 |  | — |  | (160 | ) | 43 |
|  | $ | 9,768 |  | $ | — |  | $ | (160 | ) | $ | 9,608 |
The most significant available-for-sale security is the investment in Seabridge Gold, Inc. (“Seabridge”) common stock, acquired in June 2011 and discussed in greater detail in our Fiscal 2014 10-K. The Company’s policy for determining whether declines in fair value of available-for-sale securities are other than temporary includes a quarterly analysis of the investments and a review by management of all investments for which the cost exceeds the fair value. Any temporary declines in fair value are recorded as a charge to other comprehensive income. If such impairment is determined by the Company to be other than temporary, the investment’s cost basis is written down to fair value and recorded in net income during the period the Company determines such impairment to be other than temporary. Based on the Company’s quarterly analysis of its investments and our ability and intent to hold these investments for a reasonable period of time, there were no write downs on our available-for-sale securities during the three and six months ended December 31, 2014. The Company recognized a loss on available-for-sale securities of $4.5 million during the fourth quarter of our fiscal year ended June 30, 2014. The Company will continue to evaluate its investment in Seabridge common stock considering additional facts and circumstances as they arise, including, but not limited to, the progress of development of Seabridge’s KSM project.

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