Plant And Equipment

9 Months Ended

Sep. 30, 2013

7. Plant and Equipment


		September 30, 2013						December 31, 2012
		Cost		Accumulated depreciation and write downs		Net		Cost		Accumulated depreciation and write downs		Net

Mt. Todd, Australia	$	5,500	$	1,789	$	3,711	$	3,497	$	1,124	$	2,373
Los Cardones, Mexico		1,219		125		1,094		1,194		109		1,085
Guadalupe de los Reyes, Mexico		21		5		16		21		3		18
Corporate, United States		818		549		269		556		440		116
Awak Mas, Indonesia		242		242		-		242		242		-
	$	7,800	$	2,710	$	5,090	$	5,510	$	1,918	$	3,592

Assets held for sale (mill equipment)	$	10,000	$	3,500	$	6,500	$	10,000	$	-	$	10,000

During the three months ended September 30, 2013, based on an independent assessment from a third party, the Company recorded an impairment charge of $3,500 to write down the value of our mill equipment held for sale. The impairment is based on an estimated sale value of approximately $7,300, net of commissions and other costs to sell of approximately $800 and is included in our Consolidated Statements of Income/(Loss) and Comprehensive Income/(Loss) for the three and nine months ended September 30, 2013.

See Note 16 for subsequent events related to plant and equipment.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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