XML 54 R21.htm IDEA: XBRL DOCUMENT

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2015
SUBSEQUENT EVENTS.
SUBSEQUENT EVENTS	NOTE 14 SUBSEQUENT EVENTS On April 7, 2015, the Company reported approximately 7,000 ounces of gold equivalent in concentrate was stolen from its refinery, in Mexico. After analysis, it was determined the amount stolen was approximately 6,350 ounces. The estimated cost of the gold equivalent in concentrate was approximately $2.8 million and is included as in-process inventory as at March 31, 2015. Insurance claim procedures are currently ongoing and the extent of the insurance proceeds to be received is yet to be determined. On April 17, 2015, the Company entered into a simple line of credit agreement with Banco Nacional de Comercio Exterior (“Banco Nacional”), subject to final registration and administrative procedures, for an amount up to 90,000,000 Mexican pesos (approximately $5.9 million as of March 31, 2015), secured by the Company’s IVA receivable balance. The Company has six months from the date of execution to withdraw funds, with a repayment term of no more than two years from the date of execution. The applicable interest will be the result of the interest rate determined upon the first withdrawal of funds + TIIE (Interbank Equilibrium Interest Rate in Mexico), payable quarterly. Upon signing the agreement, the Company paid a 1% commission on the total value of the simple credit agreement to Banco Nacional. No withdrawal has been made as of the date of this filing.