Plant And Equipment

12 Months Ended

Dec. 31, 2014

6. Plant and Equipment


		December 31, 2014						December 31, 2013
		Cost		Accumulated depreciation		Net		Cost		Accumulated depreciation		Net

Mt Todd, Australia	$	5,483	$	2,756	$	2,727	$	5,476	$	1,993	$	3,483
Guadalupe de los Reyes, Mexico		17		8		9		17		5		12
Corporate, United States		403		297		106		780		577		203
Plant and equipment	$	5,903	$	3,061	$	2,842	$	6,273	$	2,575	$	3,698

		December 31, 2014						December 31, 2013
		Book value beginning of period		Write-downs during the period		Book value end of period		Book value beginning of period		Write-downs during the period		Book value end of period

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

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 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. There was no such charge for the year ended December 31, 2014.

- 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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