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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2014
INCOME TAXES |
Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities |
|  | 2014 |  | 2013 |
|  | (in thousands) |
Deferred tax assets: |  |  |  |  |  |  |
Alternative minimum tax (AMT) credit carryforward |  | $ | 41 |  | $ | 41 |
Net operating loss carryforward |  |  | 108,070 |  |  | 98,734 |
Mineral properties |  |  | 14,797 |  |  | 19,884 |
Other temporary differences |  |  | 6,859 |  |  | 6,302 |
Capital loss carryforward |  |  | 241 |  |  | 241 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total gross deferred tax assets |  |  | 130,008 |  |  | 125,202 |
Less: valuation allowance |  |  | (129,794 | ) |  | (125,202 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax assets |  | $ | 214 |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: |  |  |  |  |  |  |
Investments |  |  | (214 | ) |  | — |
Acquired mineral property interests |  |  | (51,899 | ) |  | (158,855 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total deferred tax liabilities |  | $ | (52,113 | ) | $ | (158,855 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total net deferred tax liability |  | $ | (51,899 | ) | $ | (158,855 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of reconciliation of the tax provision at statutory U.S. Federal and State income tax rates to the actual tax provision recorded in the financial statement |
Expected tax recovery at |  | 2014 |  | 2013 |  | 2012 |
|  | (in thousands) |
US Federal and State tax recovery at statutory rate |  | $ | (142,499 | ) | $ | (68,377 | ) | $ | (31,925 | )
Reconciling items: |  |  |  |  |  |  |  |  |  |
Equity pickup in MSC |  |  | 1,849 |  |  | (2,924 | ) |  | (7,292 | )
Impact of Mexican tax reform |  |  | 754 |  |  | (1,921 | ) |  | — |
Prior year true ups/acquisitions |  |  | 8,330 |  |  | (19,016 | ) |  | 781 |
Adjustment for foreign tax rates |  |  | (2,557 | ) |  | 8,680 |  |  | 3,245 |
Tax rate changes |  |  | — |  |  | (187 | ) |  | (1,869 | )
Imputed interest |  |  | 198 |  |  | 171 |  |  | 135 |
Other permanent differences |  |  | (7,552 | ) |  | 22,090 |  |  | (3,259 | )
Unrealized foreign exchange rate (loss)/gain |  |  | 19,447 |  |  | (28,317 | ) |  | (21,263 | )
NOL expired |  |  | 10,268 |  |  | 1,711 |  |  | (2,696 | )
Valuation allowance |  |  | 4,592 |  |  | 34,725 |  |  | 36,899 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tax Recovery |  | $ | (107,170 | ) | $ | (53,365 | ) | $ | (27,244 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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