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FAIR VALUE ACCOUNTING (Tables) | 12 Months Ended
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Dec. 31, 2015
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 December 31, 2015 |
|  | Total |  | Level 1 |  | Level 2 |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | $ | 1,032 |  | $ | 1,032 |  | $ | — |  | $ | — |
|  | $ | 1,032 |  | $ | 1,032 |  | $ | — |  | $ | — |
|  | Fair Value as at December 31 2014 |
|  | Total |  | Level 1 |  | Level 2 |  | Level 3 |
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 |  | $ | — |  | $ | — |
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 |
|  | 2015
|  | Date of Fair Value |  |  |  |  |  | Range / |
|  | Measurement |  | Valuation Technique |  | Unobservable Input |  | Weighted Average |
|  |  |  |  |  | Discount Rate |  |  | 10 | %
|  |  |  | Discounted cash flow |  | Long Term Gold Price |  | $ | 1,245 | per ounce
Investment in MSC |  | December 31, 2015 |  | for operating mine |  | Long Term Silver Price |  | $ | 18 | per ounce
|  |  |  |  |  | Argentina Inflation Index |  |  | 21 | %
|  |  |  |  |  | United States Inflation Index |  |  | 2.4 | %
|  | 2014
|  | Date of Fair Value |  |  |  |  |  | Range / |
|  | Measurement |  | Valuation Technique |  | Unobservable Input |  | Weighted Average |
|  |  |  |  |  | Discount to reflect decline in |  |  |  |
|  |  |  | Market value per |  | observed market value of comparable |  |  | 35 | %
Los Azules Copper Project |  | December 31, 2014 |  | pound of copper |  | transactions from June 2014 (date of |  |  |  |
|  |  |  | equivalent mineralized |  | the last impairment test) to December |  |  |  |
|  |  |  | material |  | 31, 2014 |  |  |  |
|  |  |  |  |  | Discount Rate |  |  | 10 | %
|  |  |  | Discounted cash flow |  | Long Term Gold Price |  | $ | 1,300 | per ounce
|  |  |  | for operating mine |  | Long Term Silver Price |  | $ | 20.50 | per ounce
|  | December 31, 2014 |  |  |  | Argentina Inflation Index |  |  | 11.9 | %
Investment in MSC |  |  |  |  |  | United States Inflation Index |  |  | 2.1 | %
|  |  |  | Market value per acre |  | Discount to observed market value |  |  |  |
Investment in MSC |  | December 31, 2014 |  | for exploration |  | pre acre to reflect Argentina country |  |  | 20 | %
|  |  |  | properties |  | risk |  |  |  |
Schedule of assets measured at fair value on a nonrecurring basis after initial recognition |
|  |  |  | 2015 |
|  | Date of Fair Value |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |
|  | Measurement |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Impairment |
Mineral property interests |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Los Azules Copper Project |  | December 31, 2015 |  |  | 191,490 |  |  | — |  |  | — |  |  | 191,490 |  |  | 11,399 |
Tonkin Complex |  | December 31, 2015 |  |  | 4,833 |  |  | — |  |  | — |  |  | 4,833 |  |  | 14,939 |
Gold Bar Complex |  | December 31, 2015 |  |  | 30,730 |  |  | — |  |  | — |  |  | 30,730 |  |  | 20,847 |
North Battle Mountain Complex |  | December 31, 2015 |  |  | 785 |  |  | — |  |  | — |  |  | 785 |  |  | 1,443 |
Investment in MSC |  | December 31, 2015 |  |  | 167,107 |  |  | — |  |  | — |  |  | 167,107 |  |  | 11,777 |
|  |  |  | $ | 394,945 |  | $ | — |  | $ | — |  | $ | 394,945 |  | $ | 60,405 |
|  |  |  | 2014 |
|  | Date of Fair Value |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |
|  | Measurement |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Impairment |
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 |

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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=36462937&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=36462937&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=36462937&loc=d3e19190-110258 + Details
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