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Fair Value Accounting | 9 Months Ended
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Sep. 30, 2014
Fair Value [Abstract] |
Fair Value Accounting | 11. Fair Value Accounting The following table sets forth the Company’s assets measured at fair value on a recurring basis by level within the fair value hierarchy. As required by accounting guidance, assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
|  |  |  | Fair value at September 30, 2014
|  |  |  | Total |  | Level 1 |  | Level 3
Assets: |  |  |  |  |  |  |  |
| Cash equivalents |  | $ | 1,000 | $ | 1,000 | $ | -
| Marketable securities |  |  | 161 |  | 161 |  | -
| Other investments (Midas Gold Shares) |  |  | 8,060 |  | 8,060 |  | -
| Mill equipment, held for sale |  |  | 6,500 |  | - |  | 6,500
|  |  |  | Fair value at December 31, 2013
|  |  |  | Total |  | Level 1 |  | Level 3
Assets: |  |  |  |  |  |  |  |
| Cash equivalents |  | $ | 3,000 | $ | 3,000 | $ | -
| Marketable securities |  |  | 176 |  | 176 |  | -
| Other investments (Midas Gold Shares) |  |  | 20,990 |  | 20,990 |  | -
| Mill equipment, held for sale |  |  | 6,500 |  | - |  | 6,500
Our cash equivalent instruments, marketable securities and investment in Midas Gold Shares are classified as Level 1 of the fair value hierarchy as they are valued at quoted market prices in an active market. The Company incurred a Level 3 impairment loss on the mill equipment (Note 6) for the year ended December 31, 2013. This equipment was valued at $6,500 at December 31, 2013, based on a third party assessment of the projected sale value giving full consideration to current market conditions and an orderly sale process. This valuation was used to determine the Level 3 impairment charge taken in 2013. The mill equipment is categorized as assets held for sale on the Condensed Consolidated Balance Sheets. At September 30, 2014, the assets classified within Level 3 of the fair value hierarchy represent 41% of the total assets measured at fair value. There have been no transfers between levels in 2014 nor have there been any changes in valuation techniques. As of September 30, 2014, the Company also had the Amayapampa interest, comprised of a right to receive an NSR royalty on future gold production, if any, plus certain additional cash payments if the project successfully starts commercial production. Under certain conditions, Amayapampa is subject to measurement at fair value on a non-recurring basis. Measurement at fair value in subsequent periods will be applicable if Amayapampa is determined to be impaired; however, no triggering events have occurred during the nine months ended September 30, 2014. If an impairment of the Amayapampa interest becomes necessary, such fair value measurement will be determined utilizing Level 3 inputs.

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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