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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS | 12 Months Ended
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Dec. 31, 2017
Disclosure Of Financial Instruments And Fair Value Measurement [Abstract] |
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS | FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Our financial instruments include cash and cash equivalents, trade receivables, marketable securities, other financial assets, trade and other payables, moratorium and our Notes. a)Financial assets and liabilities by category
At December 31, 2017 | Amortized cost |  | FVTPL |  | FVTOCI |  | Total |
| $ |  | $ |  | $ |  | $ |
Financial assets |  |  |  |
Cash and cash equivalents (note 4) | — |  | 459,864 |  | — |  | 459,864 |
Trade receivables (1) (note 5) | — |  | 14,848 |  | — |  | 14,848 |
Marketable securities (note 6) | — |  | — |  | 114,001 |  | 114,001 |
Other financial assets (note 8) | 14,773 |  | 7,626 |  | — |  | 22,399 |
Total financial assets | 14,773 |  | 482,338 |  | 114,001 |  | 611,112 |
Financial liabilities |  |  |  |
Trade and other payables | 45,759 |  | 10,009 |  | — |  | 55,768 |
Non-current portion of debt (note 14(a)) | 233,180 |  | — |  | — |  | 233,180 |
Total financial liabilities | 278,939 |  | 10,009 |  | — |  | 288,948 |
At December 31, 2016 | Amortized cost |  | FVTPL |  | FVTOCI |  | Total |
| $ |  | $ |  | $ |  | $ |
Financial assets |  |  |  |
Cash and cash equivalents (note 4) | — |  | 327,127 |  | — |  | 327,127 |
Trade receivables (1) (note 5) | — |  | 35,590 |  | — |  | 35,590 |
Marketable securities (note 6) | — |  | — |  | 148,944 |  | 148,944 |
Other financial assets (note 8) | 7,152 |  | 6,964 |  | — |  | 14,116 |
Total financial assets | 7,152 |  | 369,681 |  | 148,944 |  | 525,777 |
Financial liabilities |  |  |  |
Trade and other payables | 48,083 |  | 12,170 |  | — |  | 60,253 |
Non-current portion of debt (note 14(a)) | 220,054 |  | — |  | — |  | 220,054 |
Total financial liabilities | 268,137 |  | 12,170 |  | — |  | 280,307 |
(1) | Certain trade receivables are classified as FVTPL due to the derivative identified through provisional pricing arrangements discussed in note 2(f).
22. | FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued)
b)Fair value of financial instruments
| December 31, 2017 | December 31, 2016
| Carrying value |  | Fair value |  | Carrying value |  | Fair value |
| $ |  | $ |  | $ |  | $ |
Trade and receivables | 14,848 |  | 14,848 |  | 36,236 |  | 36,236 |
Marketable securities (note 6) | 114,001 |  | 114,001 |  | 148,944 |  | 148,944 |
Other financial assets (note 8) | 22,399 |  | 22,399 |  | 14,116 |  | 14,116 |
Non-current portion of debt (note 14(a)) (1) | (233,180 | ) | (259,578 | ) | (220,054 | ) | (245,515 | )
| (81,932 | ) | (108,330 | ) | (20,758 | ) | (46,219 | )
(1)The fair value of the Notes includes both the debt and equity components. The carrying values of cash and cash equivalents and trade and other payables approximate their fair values due to their short maturity. Fair value hierarchy Assets and liabilities that are held at fair value are categorized based on a valuation hierarchy which is determined by the valuation methodology utilized:
| Fair value at December 31, 2017
| Quoted prices in active market (1) |  | Significant other observable inputs (2) |  | Significant unobservable inputs (3) |  | Total |
| $ |  | $ |  | $ |  | $ |
Recurring measurements |  |  |  |
Trade receivables | — |  | 14,848 |  | — |  | 14,848 |
Marketable securities (note 6) | 114,001 |  | — |  | — |  | 114,001 |
Other financial assets | — |  | — |  | 6,338 |  | 6,338 |
Derivative assets | — |  | 1,287 |  | — |  | 1,287 |
Accrued liabilities | — |  | (10,009 | ) | — |  | (10,009 | )
| 114,001 |  | 6,126 |  | 6,338 |  | 126,465 |
Non-recurring measurements |  |  |  |
Deferred consideration | — |  | — |  | 7,399 |  | 7,399 |
| — |  | — |  | 7,399 |  | 7,399 |
Fair values disclosed |  |  |  |
Convertible notes | (259,578 | ) | — |  | — |  | (259,578 | )
| (259,578 | ) | — |  | — |  | (259,578 | )
22. | FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued)
| Fair value at December 31, 2016
| Quoted prices in active market (1) |  | Significant other observable inputs (2) |  | Significant unobservable inputs (3) |  | Total |
| $ |  | $ |  | $ |  | $ |
Recurring measurements |  |  |  |
Trade receivables | — |  | 35,590 |  | — |  | 35,590 |
Marketable securities (note 6) | 146,887 |  | — |  | 2,057 |  | 148,944 |
Other financial assets | — |  | — |  | 6,964 |  | 6,964 |
Accrued liabilities | — |  | (12,170 | ) | — |  | (12,170 | )
| 146,887 |  | 23,420 |  | 9,021 |  | 179,328 |
Non-recurring measurement |  |  |  |
Deferred consideration | — |  | — |  | 7,152 |  | 7,152 |
| — |  | — |  | 7,152 |  | 7,152 |
Fair values disclosed |  |  |  |
Convertible notes | (245,515 | ) | — |  | — |  | (245,515 | )
| (245,515 | ) | — |  | — |  | (245,515 | )
(1) Marketable securities of publicly quoted companies, consisting of FVTOCI investments are valued using a market approach based upon unadjusted quoted prices in an active market obtained from securities exchanges. The fair value disclosed for our Notes is also included in Level 1, as the basis of valuation uses a quoted price in an active market. (2) Trade receivables from provisional invoices are included in Level 2 as the basis of valuation uses quoted commodity forward prices. Accrued liabilities relating to DSUs, RSUs, and PSUs and derivative assets and liabilities are included in Level 2 as the basis of valuation uses quoted prices in active markets. (3) Certain items of deferred consideration from the sale of exploration and evaluation assets (note 8) is included in Level 3, as certain assumptions used in the calculation of the fair value are not based on observable market data as detailed in note 2(r)(v). Marketable securities of a private company are included in Level 3 in 2016 as it had no observable market data. During the year ended December 31, 2017, we transferred $2,057,000 from Level 3 to Level 1 following the reverse take-over ("RTO") of Huayra Minerals Corporation ("HMC") the shares of a previously private company that we classified as Level 3 became publicly traded and the fair value is now based upon observable market data (note 8). There were no reclassifications during 2016.

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