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Amayapampa
12 Months Ended
Dec. 31, 2014
Asset Impairment Charges [Abstract]  
Asset Impairment Charges [Text Block]

7. Amayapampa Interest

 

As of December 31, 2014, the Company owned an interest in the Amayapampa gold project in Bolivia, 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.  The fair value of the Amayapampa interest had been estimated at $4,813.

 

In December 2014, the owner of the Amayapampa gold project completed the sale of 100% of the project to a private investor. Accordingly, we evaluated the carrying value of our interest in Amayapampa.  Given the frequency of ownership changes over the past several years, the conditions in gold market, and the political climate in Bolivia, we concluded that there is no more than a remote possibility that the Amayapampa project will be successfully developed and operated within the foreseeable future, and an impairment amount equal to the $4,813 carrying value has been included in our Consolidated Statements of Income/(Loss) and Comprehensive Income/(Loss) for the year ended December 31, 2014.