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Shareholders Equity
9 Months Ended
Sep. 30, 2011
Shareholders Equity and Comprehensive (Loss) Income [Abstract] 
SHAREHOLDERS EQUITY

7. SHAREHOLDERS’ EQUITY

In May 2010, the Company issued 12.1 million common shares at a price of $6.25 per share for total gross proceeds of $75.5 million. After deducting direct fees, net proceeds to the Company totaled $71.0 million. Proceeds from the equity offering were used to pay down debt.