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Subsequent Events
12 Months Ended
Dec. 31, 2014
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

19. Subsequent Events 

 

Los Cardones Payment

 

In January 2015, we entered into the Amendment with respect to the acquisition of the Los Cardones gold project. Under the Amendment, the Company received a payment of $3,000 cash from the Purchasers as full and final payment for 100% of the Company’s interest in the project.  See Note 5.  

 

Sale of Midas Gold Shares

In February 2015, we executed an agency agreement with an agent (the “Agent”) under which the Agent has arranged to sell up to 8,000,000 Midas Gold Shares at a price of C$0.46 per Midas Gold Share for aggregate gross proceeds of up to C$3,680 (the “Sale”). A portion of the Midas Gold Shares may be sold pursuant to a finder's agreement between us and a finder (the "Finder") on the same offering terms. In consideration for the services to be provided by the Agent, and if applicable, the Finder, in connection with sale of the Midas Gold Shares, the Agent or the Finder (as applicable) will receive a cash fee equal to 4% of the gross proceeds from the sale of the Midas Gold Shares.

Following the sale of the Midas Gold Shares, our holding would be reduced to 7,802,615 common shares of Midas Gold Corp, representing 5.5% of the outstanding common shares of Midas Gold Corp. We have agreed that following the closing of the Sale, we will not sell any of the remaining Midas Gold Shares for a period of six months following closing. 

Guadalupe de los Reyes Payment

 

In February 2015, we received the $500 option payment from Cangold which had been postponed from January 2015.  See Note 5.