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Acquisitions | 12 Months Ended
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Dec. 31, 2013
Business Combinations [Abstract] |
ACQUISITIONS | ACQUISITIONS The Company completed the acquisition of Orko Silver Corporation (“Orko”) in April 2013. Upon completion of the acquisition, the Company holds the La Preciosa silver-gold project in the state of Durango, Mexico. The transaction was accounted for as a purchase of mineral interests since La Preciosa is a development stage project. The Company incurred $17.6 million of acquisition costs related to the acquisition of Orko which were capitalized. Total consideration paid for the asset acquisition (in thousands):
Common shares issued (11,572,918 at $14.98) | $ | 173,363 |
Cash | 99,059 |
Warrants (1,588,768 valued at $3.64 per warrant) | 5,777 |
Transaction advisory fees and other acquisition costs | 17,642 |
Total purchase price | 295,841 |
Current liabilities | 2,616 |
Deferred income taxes | 114,339 |
Total liabilities assumed | 116,955 |
Total consideration | $ | 412,796 |
Estimated fair value of the assets acquired (in thousands):
Cash | $ | 3,487 |
Other current assets | 635 |
Mineral interests | 408,352 |
Other assets | 322 |
Total assets acquired | $ | 412,796 |
The Company completed the acquisition of Global Royalty Corporation (“GRC”) in December 2013. The transaction was accounted for as a business combination. Upon completion of the acquisition, the Company holds net smelter royalties on the El Gallo complex in Mexico and the Zaruma mine in Ecuador. The Company incurred $0.3 million of acquisition related costs in 2013 related to the acquisition of GRC which are included in General and administrative expenses in the Consolidated Statement of Comprehensive Income (Loss). Total consideration paid for the acquisition (in thousands):
Common shares issued (2,130,351 at $10.42) | $ | 22,198 |
Cash | 3,849 |
Total purchase price | 26,047 |
Current liabilities | 679 |
Deferred income taxes | 7,926 |
Total liabilities assumed | 8,605 |
Total consideration | $ | 34,652 |
Estimated fair value of the assets acquired (in thousands):
Cash | $ | 165 |
Receivables | 276 |
Metal and other inventory | 111 |
Mineral interests | 34,100 |
Total assets acquired | $ | 34,652 |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6996-128479 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1524-128463 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1383-128463 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e7000-128479 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141R -Paragraph F4 -Subparagraph e -Appendix F Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4934-128472 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 51, 52 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4922-128472 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4926-128472 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141R -Paragraph 67-73 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number 88-16 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. 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