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FAIR VALUE ACCOUNTING (Tables) | 12 Months Ended
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Dec. 31, 2014
FAIR VALUE ACCOUNTING |
Schedule of assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy |
|  | 2014 |
|  | Total |  | Level 1 |  | Level 2 |  | Level 3 |
|  | (in thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | $ | 1,082 |  | $ | 1,082 |  | $ | — |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 1,082 |  | $ | 1,082 |  | $ | — |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Portion of accounts payable and accrued liabilities recorded at fair value |  | $ | 355 |  | $ | 355 |  | $ | — |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 355 |  | $ | 355 |  | $ | — |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | 2013 |
|  | Total |  | Level 1 |  | Level 2 |  | Level 3 |
|  | (in thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | $ | 2 |  | $ | 2 |  | $ | — |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 2 |  | $ | 2 |  | $ | — |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Portion of accounts payable and accrued liabilities recorded at fair value |  | $ | 177 |  | $ | 177 |  | $ | — |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 177 |  | $ | 177 |  | $ | — |  | $ | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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Summary of the quantitative and qualitative information related to the unobservable inputs used in the calculation of the Company's non-recurring Level 3 fair value measurements |
|  | 2014
|  | Date of Fair Value Measurement |  | Valuation Technique |  | Unobservable Input |  | Range / Weighted Average
Los Azules Copper Project |  | December 31, 2014 |  | Market value per pound of copper equivalent mineralized material |  | Discount to reflect decline in observed market value of comparable transactions from June 2014 (date of the last impairment test) to December 31, 2014 |  | 35%
Investment in MSC |  | December 31, 2014 |  | Discounted cash flow for operating mine |  | Discount Rate Long Term Gold Price Long Term Silver Price Argentina Inflation Index United States Inflation Index |  | 10% $1,300 per ounce $20.50 per ounce 11.9% 2.1%
Investment in MSC |  | December 31, 2014 |  | Market value per acre for exploration properties |  | Discount to observed market value pre acre to reflect Argentina country risk |  | 20%
|  | 2013
|  | Date of Fair Value Measurement |  | Valuation Technique |  | Unobservable Input |  | Range / Weighted Average
Mineral property interests |  |  |  |  |  |  |  |  |
Telken Tenements Este Tenements Piramides Tenements Tobias Tenements Cerro Mojon Tenements La Merced Tenements Cabeza de Vaca Tenements El Trumai Tenements Martes 13 Tenements Celestina Tenements Other Santa Cruz Exploration Properties |  |  | June 30, 2013 |  | Market value per acre |  | Discount to observed market value pre acre to reflect Argentina country risk |  | 40%
Investment in MSC |  |  | June 30, 2013 |  | Discounted cash flow |  | Discount Rate Long Term Gold Price Long Term Silver Price Argentina Inflation Index United States Inflation Index |  | 10.0% $1,300 per ounce $22.75 per ounce 10.0% 1.7%
Schedule of assets measured at fair value on a nonrecurring basis after initial recognition |
|  |  |  | 2014 |
|  | Date of Fair Value Measurement |
|  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Loss |
|  |  |  | (in thousands) |
Mineral property interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Los Azules Copper Project |  | December 31, 2014 |  | $ | 202,889 |  | $ | — |  | $ | — |  | $ | 202,889 |  | $ | 228,301 |
Tonkin Complex |  | December 31, 2014 |  |  | 20,423 |  |  | — |  |  | — |  |  | 20,423 |  |  | 31,391 |
Gold Bar Complex |  | December 31, 2014 |  |  | 51,577 |  |  | — |  |  | — |  |  | 51,577 |  |  | 25,435 |
North Battle Mountain Complex |  | December 31, 2014 |  |  | 2,227 |  |  | — |  |  | — |  |  | 2,227 |  |  | 1,921 |
Investment in MSC |  | December 31, 2014 |  |  | 177,018 |  |  | — |  |  | — |  |  | 177,018 |  |  | 21,162 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  |  | $ | 454,134 |  | $ | — |  | $ | — |  | $ | 454,134 |  | $ | 308,210 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  |  | 2013 |
|  | Date of Fair Value Measurement |
|  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Loss |
|  |  |  | (in thousands) |
Mineral property interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Limo Complex |  | December 31, 2013 |  | $ | 23,438 |  | $ | — |  | $ | — |  | $ | 23,438 |  | $ | 19,450 |
Other United States Properties |  | December 31, 2013 |  |  | 9,610 |  |  | — |  |  | — |  |  | 9,610 |  |  | 9,497 |
Telken Tenements(1) |  | June 30, 2013 |  |  | 26,442 |  |  | — |  |  | — |  |  | 26,442 |  |  | 13,792 |
Este Tenements(1) |  | June 30, 2013 |  |  | 5,337 |  |  | — |  |  | — |  |  | 5,337 |  |  | 2,784 |
Piramides Tenements(1) |  | June 30, 2013 |  |  | 9,736 |  |  | — |  |  | — |  |  | 9,736 |  |  | 5,079 |
Tobias Tenements(1) |  | June 30, 2013 |  |  | 11,645 |  |  | — |  |  | — |  |  | 11,645 |  |  | 6,074 |
Investment in MSC |  | June 30, 2013 |  |  | 176,282 |  |  | — |  |  | — |  |  | 176,282 |  |  | 95,878 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  |  |  | $ | 262,490 |  | $ | — |  | $ | — |  | $ | 262,490 |  | $ | 152,554 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) | The fair values for the Telken, Este, Piramides and Tobias Tenements were determined prior to the transfer of these properties to MSC as part of the vend-in agreement between the Company and Hochschild, as described in Note 7, Investment in Minera Santa Cruz S.A. ("MSC")—San José Mine. In the fourth quarter of 2013, these tenements were transferred to MSC and were therefore not included in the Company's mineral property interests as at December 31, 2013.

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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 the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, used to measure similar assets in prior periods (non-recurring basis) by class of asset or liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 + 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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