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FAIR VALUE ACCOUNTING (Tables) | 6 Months Ended
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Jun. 30, 2014
FAIR VALUE ACCOUNTING |
Schedule of assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy |
|  | Fair Value as at June 30, 2014 |
|  | Total |  | Level 1 |  | Level 2 |  | Level 3 |
|  | (in thousands) |
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 15,149 |  | $ | 15,149 |  | $ | — |  | $ | — |
|  | $ | 15,149 |  | $ | 15,149 |  | $ | — |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 1,093 |  | $ | 1,093 |  | $ | — |  | $ | — |
|  | $ | 1,093 |  | $ | 1,093 |  | $ | — |  | $ | — |
|  | Fair Value as at December 31, 2013 |
|  | Total |  | Level 1 |  | Level 2 |  | Level 3 |
|  | (in thousands) |
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 24,321 |  | $ | 24,321 |  | $ | — |  | $ | — |
|  | $ | 24,321 |  | $ | 24,321 |  | $ | — |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | 177 |  | 177 |  | — |  | — |
|  | $ | 177 |  | $ | 177 |  | $ | — |  | $ | — |
Schedule of assets measured at fair value on a nonrecurring basis after initial recognition |
|  | Date of Fair Value |  | Fair Value Measurements for the Six Months Ended June 30, 2014 |
|  | Measurement |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Loss |
|  |  |  | (in thousands) |
Mineral property interests |  |  |  |  |  |  |  |  |  |  |  |  |
Los Azules Copper Project |  | June 30, 2014 |  | 310,792 |  | — |  | — |  | 310,792 |  | 120,398 |
|  |  |  | $ | 310,792 |  | $ | — |  | $ | — |  | $ | 310,792 |  | $ | 120,398 |
|  | Date of Fair Value |  | Fair Value Measurements for the Year Ended December 31, 2013 |
|  | Measurement |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Loss |
|  |  |  | (in thousands) |
Mineral property interests |  |  |  |  |  |  |  |  |  |  |  |  |
Telken Tenements |  | June 30, 2013 |  | $ | 26,442 |  | $ | — |  | $ | — |  | $ | 26,442 |  | $ | 13,792 |
Este Tenements |  | June 30, 2013 |  | 5,337 |  | — |  | — |  | 5,337 |  | 2,784 |
Piramides Tenements |  | June 30, 2013 |  | 9,736 |  | — |  | — |  | 9,736 |  | 5,079 |
Tobias Tenements |  | June 30, 2013 |  | 11,645 |  | — |  | — |  | 11,645 |  | 6,074 |
Limo Complex |  | December 31, 2013 |  | 23,438 |  | — |  | — |  | 23,438 |  | 19,450 |
Other United States Properties |  | December 31, 2013 |  | 9,610 |  | — |  | — |  | 9,610 |  | 9,497 |
Investment in MSC |  | June 30, 2013 |  | 176,282 |  | — |  | — |  | 176,282 |  | 95,878 |
|  |  |  | $ | 262,490 |  | $ | — |  | $ | — |  | $ | 262,490 |  | $ | 152,554 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19296-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258 + Details
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