Plant And Equipment

12 Months Ended

Dec. 31, 2013

7. Plant and Equipment


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

Mt. Todd, Australia	$	5,472	$	1,993	$	3,479	$	3,497	$	1,124	$	2,373
Los Cardones, Mexico (Note 6)		-		-		-		1,194		109		1,085
Guadalupe de los Reyes, Mexico		21		5		16		21		3		18
Corporate, United States		780		577		203		556		440		116
Awak Mas, Indonesia		-		-		-		242		242		-
Plant and equipment	$	6,273	$	2,575	$	3,698	$	5,510	$	1,918	$	3,592

Assets held for sale	$	10,000	$	3,500	$	6,500	$	10,000	$	-	$	10,000

As part of the Earn-in Right Agreement (Note 6), Invecture had the right to cause DZ Mexico to acquire certain mill equipment from Vista for $16,000 (the equipment’s then book value) plus certain storage, insurance and transportation costs and any applicable taxes provided that notice of exercise of the right is received by February 7, 2013. During November 2012, Invecture notified us that they would not be exercising this right. As a result, we wrote the mill equipment down to its estimated fair value of $10,000 , at that time based on an independent assessment from a third party and have classified the mill equipment as assets held for sale.

During the year ended December 31, 2013, given the relatively weak market conditions in the gold mining sector, based on an updated independent assessment from a third party, we recorded a Level 3 (Note 14) impairment charge of $3,500 to further write down the value of the mill equipment which is held for sale. The impairment charge is based on an estimated sale value of $7,300, net of commissions and other costs to sell of approximately $800 and has been included in our Consolidated Statements of Income/(Loss) and Comprehensive Income/(Loss) for the year ended December 31, 2013.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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