Gold Resource (GORO) 10-Q 12 May 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	9-May-14
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Entity Registrant Name	'GOLD RESOURCE CORP	'
Entity Central Index Key	'0001160791	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	54,179,369

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$19,457	$14,973
Gold and silver bullion	3,793	3,801
Accounts receivable	6,442	2,307
Inventories	6,967	7,468
Income taxes receivable	1,216	6,488
Deferred tax assets	3,973	3,973
Prepaid expenses and other assets	4,687	5,808
Total current assets	46,535	44,818
Land and mineral rights	227	227
Property, equipment and mine development- net	21,506	18,127
Inventories	903	903
Deferred tax assets	27,663	27,663
Investments	2,743	231
Total assets	99,577	91,969
Current liabilities:	'	'
Accounts payable	4,223	2,873
Accrued expenses	5,011	5,613
Capital lease obligations	1,476	1,469
IVA taxes payable	1,762	925
Dividends payable	542	538
Total current liabilities	13,014	11,418
Capital lease obligations	2,015	2,387
Reclamation and remediation liabilities	2,883	2,887
Total liabilities	17,912	16,692
Shareholders' equity:	'	'
Preferred stock - $0.001 par value, 5,000,000 shares authorized: no shares issued and outstanding	'	'
Common stock - $0.001 par value, 100,000,000 shares authorized: 54,515,767 and 54,115,767 shares issued and outstanding, respectively	55	54
Additional paid-in capital	88,665	88,044
Accumulated (deficit)	'	-5,766
Treasury stock at cost, 336,398 shares	-5,884	-5,884
Accumulated other comprehensive (loss)	-1,171	-1,171
Total shareholders' equity	81,665	75,277
Total liabilities and shareholders' equity	$99,577	$91,969

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Fair Value	$2,743		$231
Preferred stock, par value	$0.00		$0.00
Preferred stock, shares authorized	5,000,000		5,000,000
Preferred stock, shares issued	0		0
Preferred stock, shares outstanding	0		0
Common stock, par value	$0.00		$0.00
Common stock, shares authorized	100,000,000		100,000,000
Common stock, shares issued	54,515,767		54,115,767
Common stock, shares outstanding	54,515,767		54,115,767
Treasury stock, shares	336,398		336,398
Canamex ResourcesCorporation - common shares [Member]	'		'
Fair Value	$2,512	[1]	'
[1]	(1) On February 26, 2014, the Company announced the purchased 22,222,222 shares in Canamex Resource Corp a publically traded company in Cananda. The Companybs shares represented approximately 18.4% of the outstanding shares of Canamex. Pursuant to the terms of the subscription agreement, the Company appointed Jason Reid as its representative to the Board of Directors of Canamex on April 14, 2014.

Condensed_Consolidated_Stateme

Condensed Consolidated Statements Of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Income Statement [Abstract]	'	'
Sales of metals concentrate, net	$31,152	$42,311
Mine cost of sales:	'	'
Production costs	14,221	16,867
Depreciation and amortization	745	536
Reclamation and remediation	'	29
Total mine cost of sales	14,966	17,432
Mine gross profit	16,186	24,879
Costs and expenses:	'	'
General and administrative expenses	3,013	4,385
Exploration expenses	1,288	3,299
Facilities and mine construction	'	4,848
Total costs and expenses	4,301	12,532
Operating income	11,885	12,347
Other expense	469	-36
Income before income taxes	12,354	12,311
Provision for income taxes	5,229	4,924
Net income	7,125	7,387
Other comprehensive income:	'	'
Currency translation gain	'	34
Comprehensive income	$7,125	$7,421
Net income per common share:	'	'
Basic	$0.13	$0.14
Diluted	$0.13	$0.13
Weighted average shares outstanding:	'	'
Basic	53,934,925	52,679,369
Diluted	54,697,710	55,586,031

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements Of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Cash flows from operating activities:	'		'
Net income	$7,125		$7,387
Adjustments to reconcile net income to net cash from operating activities:	'		'
Depreciation and amortization	810		653
Reclamation and remediation	'		29
Stock-based compensation	783		1,512
Unrealized foreign currency exchange loss (gain)	137		-119
Impairment loss on gold and silver bullion	'		178
Unrealized gain due to changes in fair value of investments	702	[1]	'
Changes in operating assets and liabilities:	'		'
Accounts receivable	-4,176		-4,887
Inventories	496		942
Prepaid expenses and other assets	1,110		-1,677
Accounts payable	1,331		1,910
Accrued expenses	-608		1,469
IVA taxes payable/receivable	828		-1,216
Income taxes payable/receivable	5,219		263
Net cash provided by operating activities	12,353		6,444
Cash flows from investing activities:	'		'
Capital expenditures	-4,190		-3,682
Purchases of gold and silver bullion	'		-485
Proceeds from conversion of gold and silver bullion	8		664
Investments	-1,805		-231
Net cash used in investing activities	-5,987		-3,734
Cash flows from financing activities:	'		'
Proceeds from exercise of stock options	100		'
Dividends paid	-1,617		-9,482
Repayments of capital leases	-365		'
Net cash (used in) financing activities	-1,882		-9,482
Effect of exchange rates on cash and equivalents	'		18
Net increase (decrease) in cash and equivalents	4,484		-6,754
Cash and equivalents at beginning of period	14,973		35,780
Cash and equivalents at end of period	19,457		29,026
Supplemental Cash Flow Information	'		'
Interest paid	85		'
Income taxes paid	'		$3,496
[1]	(1) Our unrealized gain due to changes in fair values of certain investments include gains associated with changes in fair values that are non-cash in nature until such time that these gains are realized through cash transactions. For additional information regarding our investments and fair value measurements, see notes 2 and 4 to our condensed consolidated financial statements.

Nature_Of_Operations_And_Summa

Nature Of Operations And Summary Of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Nature Of Operations And Summary Of Significant Accounting Policies [Abstract]	'
Nature Of Operations And Summary Of Significant Accounting Policies	'
	1.  Nature of Operations and Basis of Presentation
	Nature of Operations
	Gold Resource Corporation (the “Company”) was organized under the laws of the State of Colorado on August 24, 1998. The Company is a producer of metal concentrates that contain gold, silver, copper, lead and zinc at its El Aguila Project in the southern state of Oaxaca, Mexico.  The El Aguila Project includes the El Aguila open pit mine, which ceased operations in February 2011, and the La Arista underground mine, which is currently in operation. The Company is also performing exploration and evaluation work on its portfolio of base and precious metal exploration properties in Mexico and is evaluating other properties for possible acquisition.
	On April 30, 2014, the Company announced the completion of its reserve study and issued a report dated December 31, 2013 confirming the existence of proven and probable reserves as defined in Industry Guide 7 promulgated by the U.S. Securities and Exchange Commission (“Guide 7”). As a result of the completion of the reserve study, the Company has transitioned from an Exploration Stage Enterprise to a Production Stage Enterprise consistent with Guide 7. The Company no longer considers itself to be a Development Stage Entity as defined in Accounting Standards Codification 915 – Development Stage Entities (“ASC 915”). Accordingly, cumulative and other disclosures required by ASC 915 are no longer included in the Company’s financial statements.
	Basis of Presentation
	Basis of Presentation: The unaudited interim condensed consolidated financial statements included herein are expressed in United States dollars and were prepared in conformance with United States generally accepted accounting principles (“U.S. GAAP”) and applicable rules of the SEC regarding interim financial reporting. The unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly owned U.S. subsidiary GRC Nevada Inc. (“GRC Nevada”) and Mexican subsidiary Don David Gold Mexico S.A. de C.V. (“Don David Gold Mexico”).  Significant intercompany accounts and transactions have been eliminated.  Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to SEC rules and regulations, although the Company believes that the disclosures included herein are adequate to make the information presented not misleading.  These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto contained in the Company’s Form 10-K for the year ended December 31, 2013.  Except as noted below, there have been no material changes to the footnotes from those accompanying the audited financial statements contained in the Company’s Form 10-K.
	In management’s opinion, the unaudited condensed consolidated financial statements contained herein reflect all material normal and recurring adjustments that are necessary for the fair presentation of the Company’s financial position, results of operations, and cash flows on a basis consistent with that of its audited consolidated financial statements for the year ended December 31, 2013. However, the results of operations for the interim period ended March 31, 2014 may not be indicative of results of operations to be expected for the full fiscal year.
	Use of Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Management routinely makes judgments and estimates about the effects of matters that are inherently uncertain and bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances.  Actual results could differ from these estimates.
	Revenue Recognition: Sales of concentrates are recorded net of treatment and refining charges, plus final settlement and mark-to-market price adjustments.  Treatment and refining charges represent payments or price adjustments that are fixed and applied on a per tonne, pound or ounce basis, and in some cases provide for an increase in charges based on increases in metal prices above a base price. Treatment and refining charges are estimated upon shipment of concentrates based on contractual terms, with adjustments made at final settlement.  Adjustments at final settlement typically do not vary materially from estimates made upon shipment; however, mark-to-market price adjustments could vary materially based on the precious metals market.  In addition, because a portion of the metals contained in concentrates are unrecoverable as a result of the smelting process, the Company’s revenues from sales of concentrates are also recorded net of allowances based on the quantity and value of these estimated unrecoverable metals.  These allowances are negotiated with the buyer of the Company’s concentrates.
	Production Costs: Production costs include labor and benefits, royalties, concentrate shipping costs, mining subcontractors, fuel and lubricants, legal and professional fees related to mine operations, stock-based compensation attributable to mine employees, materials and supplies, repairs and maintenance, explosives, housing and food, insurance, reagents, travel, medical services, security equipment, office rent, tools and other costs that support our mining operations.
	Mine Development: The Company expenses general prospecting costs and the costs of acquiring and exploring unevaluated mineral properties. When a mineral property is determined to have proven and probable reserves, subsequent development costs are capitalized to mineral properties. When mineral properties are developed and operations commence, capitalized costs are charged to operations using the units-of-production method over proven and probable reserves. Upon abandonment or sale of a mineral property, all capitalized costs relating to the specific property are written off in the period abandoned or sold and a gain or loss is recognized.
	Reclassifications: Certain amounts presented in prior periods have been reclassified to conform to current period presentation.
	Exploration Stage Company:  For the period ended March 31, 2014 the condensed consolidated financial statements are no longer presented in accordance with Accounting Standards Codification 915 and the provisions of SEC Industry Guide 7 relating to exploration stage entities. On April 30, 2014, the Company issued a report on the reserve estimate for the La Arista underground mine at the El Aguila Project with an effective date of December 31, 2013. The report confirms the existence of proven and probable reserves, allowing the Company to transition from an Exploration Stage Company as defined in ASC 915 and an Exploration Stage Enterprise to a Production Stage Enterprise as defined in SEC Industry Guide 7. Consistent with the Company’s transition from an Exploration Stage Entity to a Production Stage Entity as defined in Guide 7, certain underground mine development costs associated with the Company's El Aguila Project were capitalized beginning January 1, 2014.  These costs include the cost of building access ways, lateral development, drift development, ramps and infrastructure development. All such costs are amortized using the units-of-production method over the estimated life of the ore body based on estimated recoverable ounces to be produced from proven and probable reserves.
	Investments: We make elections, on an investment-by-investment basis, as to whether we measure our investments at fair value. Such elections are generally irrevocable. We have elected the fair value method for most of our investments as we believe this method generally provides the most meaningful information to our investors. However, for investments over which we have significant influence, we consider the significance of transactions between our company and our equity affiliates and other factors in determining whether the fair value method should be applied. In general, we elect the fair value option for those equity method investments with which the Company or its consolidated subsidiaries have significant related-party transactions.
	Under the fair value method, investments are recorded at fair value and any changes in fair value are reported in realized and unrealized gains or losses due to changes in fair values of certain investments and debt, net, in our consolidated statement of operations. All costs directly associated with the acquisition of an investment to be accounted for using the fair value method are expensed as incurred. For additional information regarding our fair value method investments, see notes 2 and 4.

Fair_Value_Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2014
Fair Value Measurement [Abstract]	'
Fair Value Measurement	'
	2.  Fair Value Measurement
	The Company’s financial instruments consist of accounts receivable (which include provisionally priced sales) and investments in equity securities.  The Company’s Level 1 assets as of March 31, 2014 included investments in equity securities determined using a market approach based upon unadjusted quoted prices for identical assets in an active market. The Level 2 carrying values for accounts receivable approximated their fair values at March 31, 2014 and December 31, 2013 due to their short maturities.
	When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:
		·		Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.
		·		Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.
		·		Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.
	The following tables summarize the Company’s financial instruments required to be measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013.
			Fair Value as of March 31, 2014
			Level 1		Level 2		Level 3		Total	Balance Sheet Classification
			(in thousands)
	Receivables related to unsettled invoices (1)	$	-	$	6,442	$	-	$	6,442	Accounts receivable
	Investments in equity securities	$	2,512	$	-	$	231	$	2,743	Investments
			Fair Value as of December 31, 2013
			Level 1		Level 2		Level 3		Total	Balance Sheet Classification
			(in thousands)
	Receivables related to unsettled invoices (1)	$	-	$	2,307	$	-	$	2,307	Accounts receivable
	Investments in equity securities	$	-	$	-	$	231	$	231	Investments
	(1) Certain concentrate sales contracts provide for provisional pricing as specified in such contracts. These sales contain an embedded derivative related to the provisional pricing mechanism which is bifurcated and accounted for as a derivative. At the end of each reporting period, the Company records an adjustment to sales to mark-to-market outstanding provisional invoices. Because these provisionally priced sales have not yet settled, the mark-to-market adjustment related to these invoices is included in accounts receivable as of each reporting date. The receivable is the sales contract with no quoted market price, whereas the underlying metal values (inputs) are directly observable for the full amount of the receivable (Level 2).
	Gains and losses related to changes in the fair value of these financial instruments were included in the Company’s condensed consolidated statement of income for the three months ended March 31, 2014.

Gold_And_Silver_Bullion

Gold And Silver Bullion	3 Months Ended
	Mar. 31, 2014
Gold And Silver Bullion [Abstract]	'
Gold And Silver Bullion	'
	3. Gold and Silver Bullion
	The Company periodically purchases gold and silver bullion on the open market for investment purposes and to use in its dividend exchange program whereby shareholders may exchange their cash dividend for gold and silver bullion.  The Company’s investment in gold and silver bullion is carried at cost and evaluated for impairment at relevant financial reporting dates.
	During the three months ended March  31, 2014, the Company made no purchases of gold or silver.    During the three months ended March  31, 2013, the Company purchased approximately 302 ounces of gold at market prices for a total cost of $0.5 million. During the three months ended March  31, 2014, approximately 3 ounces of gold and 229 ounces of silver were converted into gold and silver bullion and distributed under the Company’s gold and silver bullion dividend exchange program, resulting in a realized gain of $1,000  in that period. During the three months ended March  31, 2013, approximately 348 ounces of gold and 1,578 ounces of silver were converted into gold and silver bullion and distributed under this dividend program, resulting in a realized loss of $39,000 in that period.
	The table below shows the balance of the Company’s holdings of bullion as of March  31, 2014 and December 31, 2013.
			March 31, 2014				December 31, 2013
			Gold		Silver		Gold		Silver
			(in thousands, except ounces and per ounce )				(in thousands, except ounces and per ounce )
	Ounces		1,690		92,996		1,693		93,225
	Carrying value per ounce	$	1,206.25	$	18.86	$	1,206.23	$	18.86
	Total carrying value	$	2,039	$	1,754	$	2,042	$	1,759
	The Company recorded no impairment on its gold and silver bullion for the three months ended March 31, 2014.

Investments

Investments	3 Months Ended
	Mar. 31, 2014
Investments [Abstract]	'
Investments	'
	4. Investments
	Investments in equity securities at March 31, 2014 and December 31, 2013 consisted of the following:
			Fair Value as of March 31, 2014
			Cost		Accumulated unrealized gain		Fair Value
			(in thousands)
	Investments in equity securities
	Canamex Resources Corporation - common shares (1)	$	1,805	$	707	$	2,512
	Laguna Gold Pty Ltd - common shares		231		-		231
	Total Investments	$	2,036	$	707	$	2,743
	(1) On February 26, 2014, the Company announced the purchased 22,222,222 shares in Canamex Resource Corp a publically traded company in Cananda. The Company’s shares represented approximately 18.4% of the outstanding shares of Canamex. Pursuant to the terms of the subscription agreement, the Company appointed Jason Reid as its representative to the Board of Directors of Canamex on April 14, 2014.
			Fair Value as of December 31, 2013
			Cost		Accumulated unrealized gain		Fair Value
			(in thousands)
	Investments in equity securities
	Laguna Gold Pty Ltd - common shares	$	231	$	-	$	231
	Total Investments	$	231	$	-	$	231

Inventories

Inventories	3 Months Ended
	Mar. 31, 2014
Inventories [Abstract]	'
Inventories	'
	5.  Inventories
	Inventories at March  31, 2014 and December 31, 2013 consisted of the following:
			March 31,		December 31,
			2014		2013
			(in thousands)
	Ore stockpiles - underground mine	$	987	$	1,586
	Concentrates		917		480
	Materials and supplies		5,063		5,402
	Inventories - current		6,967		7,468
	Ore stockpiles - open pit mine		903		903
	Inventories - non-current		903		903
	Total inventories	$	7,870	$	8,371

Property_And_Equipment

Property And Equipment	3 Months Ended
	Mar. 31, 2014
Property And Equipment [Abstract]	'
Property And Equipment	'
	6.  Property, equipment and mine development - net
	At March  31, 2014 and December 31, 2013, property, equipment and mine development consisted of the following:
			March 31,		December 31,
			2014		2013
			(in thousands)
	Mine development	$	2,593	$	-
	Trucks and autos		1,875		1,875
	Building		1,738		1,737
	Office furniture and equipment		2,704		2,698
	Construction in progress		1,570		-
	Machinery and equipment		17,529		17,510
	Subtotal		28,009		23,820
	Accumulated depreciation and amortization		-6,503		-5,693
	Total property, equipment and mine development - net	$	21,506	$	18,127
	Depreciation expense on property and equipment for the three months ended March  31, 2014 and 2013 was $0.7 million and $0.7 million, respectively, and amortization expense on the mine development costs for the three months ended March 31, 2014 and 2013 was $0.1 million and nil, respectively.
	In May and June 2013, the Company entered into financing transactions with certain equipment financing companies whereby the Company sold to them mining equipment that was purchased by the Company from February 2013 through June 2013.  The equipment was subsequently leased back to the Company for a three-year period with a bargain purchase option at the end of the lease term, which the Company intends to exercise.  The Company will retain full use and all benefits attributable to the leased equipment.
	The equipment leases qualify as capital leases and have been recorded at the present value of the future minimum lease payments, including the bargain purchase option and transaction fees, which approximates the net carrying value of the equipment.  The equipment leases bear interest of 4.5% to 5.5% per annum, with monthly principal and interest payments of approximately $0.1 million over the three-year lease term.   The Company has an option to purchase the equipment at the end of the lease term for less than $0.1 million.  The present value of the future minimum lease payments, including the bargain purchase options and up-front transaction fees, totaled $4.8 million. Depreciation on the leased assets is recorded over their estimated useful lives.
	As of March 31, 2014, the Company’s obligations under capital leases are as follows:
			March 31,
			2014
			(in thousands)
	2014	$	1,211
	2015		1,578
	2016		901
	Total payments due		3,690
	Less amounts representing interest		-199
	Subtotal		3,491
	Less current portion		-1,476
	Non-current portion	$	2,015

Reclamation_and_Remediation

Reclamation and Remediation	3 Months Ended
	Mar. 31, 2014
Reclamation and Remediation [Abstract]	'
Reclamation and Remediation	'
	7.  Reclamation and Remediation
	The Company’s reclamation and remediation obligations relate to its El Aguila Project.  The following table presents the changes in reclamation and remediation obligations for the three months ended March 31, 2014 and the twelve months ended December 31, 2013.
			March 31,		December 31,
			2014		2013
			(in thousands)
	Reclamation and remediation liabilities – opening balance	$	2,887	$	2,790
	Additions and changes in estimates		-		112
	Foreign currency exchange loss		-4		-15
	Reclamation and remediation liabilities – ending balance	$	2,883	$	2,887

Shareholders_Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2014
Shareholders' Equity [Abstract]	'
Shareholders' Equity	'
	8.  Shareholders’ Equity
	The Company declared dividends of $1.6 million and $9.5 million and paid gross cash dividends of $1.6 million and $9.5 million during the three months ended March 31, 2014 and 2013, respectively. Under our dividend exchange program during the three months ended March 31, 2014 our shareholders who participated in the program exchanged gross cash dividends of $8,000 for approximately 3 ounces of gold and 229 ounces of silver and for March 31, 2013 exchanged gross cash dividends of $0.7 million for approximately 348 ounces of gold and 1,578 ounces of silver, respectively.  The Board of Directors has authorized the Company’s dividends to be charged to paid-in capital until such time as the Company has retained earnings, at which time dividends will be charged to retained earnings to the extent that the Company has retained earnings. For the three months ended March  31, 2014 and 2013,  $1.4 million and $1.5 million of declared dividends were charged to retained earnings, and $0.2 million and $8.0 million was charged to paid-in capital, respectively.

Concentrate_Sale_Settlements

Concentrate Sale Settlements	3 Months Ended
	Mar. 31, 2014
Concentrate Sale Settlements [Abstract]	'
Concentrate Sale Settlements	'
	9.    Concentrate Sale Settlements
	The Company records adjustments to sales of metals concentrate that result from final settlement of provisional invoices in the period that the final invoice settlement occurs.  The Company also reviews assays taken at the mine site on its concentrate shipments, upon which the Company’s provisional invoices are based, with assays obtained from samples taken at the buyer’s warehouse prior to final settlement, upon which the final invoices are in part based, to assess whether an adjustment to sales is required prior to final invoice settlement. These adjustments resulted in a decrease of $0.7 million to sales during the three months ended March  31, 2014, and an increase to sales of $0.5 million for the three months ended March  31, 2013.
	In addition to the final settlement adjustments on provisional invoices, the Company records a sales adjustment to mark-to-market outstanding provisional invoices at the end of each reporting period.  These adjustments resulted in a decrease to sales of $1.2 million for the three months ended March  31, 2014, and a decrease to sales of $2.3 million for the three months ended March  31, 2013.
	Sales of metals concentrate are recorded net of smelter refining fees, treatment charges and penalties.  Total charges for these items totaled $2.9 million for the three months ended March  31, 2014 and $4.2 million for the three months ended March  31, 2013.

Stock_Options

Stock Options	3 Months Ended
	Mar. 31, 2014
Stock Options [Abstract]	'
Stock Options	'
	10. Stock Options
	The Company has a non-qualified stock option and stock grant plan under which equity awards may be granted to key employees, directors and others (the “Plan”).  A summary of activity under the Plan for the three months ended March 31, 2014 is presented below:
		Stock Options		Weighted Average Exercise Price (per share)		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
	Outstanding as of January 1, 2014	5,615,000	$	9.66		6.7	$	3,364
	Granted	10,000		5.81
	Forfeited	-240,000		17.64
	Exercised	-400,000		0.25
	Outstanding as of March 31, 2014	4,985,000	$	10.10		6.8	$	2,127
	Vested and exercisable as of March 31, 2014	3,438,335	$	8.08		6.0	$	2,127
	The fair value of options granted during the three months ended March 31, 2014 was $23,000. The options vest over a three year period and have an exercise term of 10 years. The total fair value of stock options vested during the three months ended March 31, 2014 was $0.7 million.
	The following table summarizes information about stock options outstanding at March 31, 2014:
		Outstanding						Exercisable
	Range of Exercise Prices	Number of Options		Weighted Average Remaining Contractual Term (in years)		Weighted Average Exercise Price (per share)		Number of Options		Weighted Average Exercise Price (per share)
	$3.40 - $3.95	1,900,000		4.5	$	3.66		1,900,000	$	3.66
	$5.81 - $14.36	1,765,000		8.2		10.90		1,098,334		11.64
	$17.10 - $20.51	1,320,000		8.4		18.31		440,001		18.31
		4,985,000		6.8	$	10.10		3,438,335	$	8.08
	The fair value of stock option grants is amortized over the respective vesting period. Total stock-based compensation expense related to stock options for the three months ended March 31, 2014 was $0.8 million and for the three months ended March  31, 2013 was $1.5 million.
	Stock-based compensation expense has been allocated between production costs and general and administrative expense for the three months ended March  31, 2014 and 2013 as follows:
			Three months ended March 31,
			2014		2013
			(in thousands)
	Production costs	$	466	$	422
	General and administrative expenses		317		1,090
	Total stock-based compensation	$	783	$	1,512
	The estimated unrecognized stock-based compensation expense from unvested options as of March  31, 2014 was approximately $6.4 million, and is expected to be recognized over the remaining vesting periods of up to 3.0 years.
	The assumptions used to determine the value of stock-based awards under the Black-Scholes method are summarized below:
		Three months ended March 31,
		2014		2013
	Risk-free interest rate	1.53%		0.81% - 0.88%
	Dividend yield	1.63%		3.25% - 3.40%
	Expected volatility	55.35%		63.00% - 63.15%
	Expected life in years	5		5

Other_Expense

Other Expense	3 Months Ended
	Mar. 31, 2014
Other Income (Expense) [Abstract]	'
Other Income (Expense)	'
	11. Other Income (Expense)
	Other income (expense) for the three months ended March  31, 2014 and 2013 consisted of the following:
			Three months ended March 31,
			2014		2013
			(in thousands)
	Unrealized foreign currency exchange (loss) gain	$	-137	$	119
	Realized foreign currency exchange (loss) gain		-47		25
	Impairment loss on gold and silver bullion		-		-178
	Realized gain (loss) from gold and silver bullion converted		1		-39
	Unrealized gain due to changes in fair value of investments (1)		702
	Interest income		69		39
	Interest expense		-85		-
	Other expense		-34		-2
	Total other income (expense)	$	469	$	-36
	(1) Our unrealized gain due to changes in fair values of certain investments include gains associated with changes in fair values that are non-cash in nature until such time that these gains are realized through cash transactions. For additional information regarding our investments and fair value measurements, see notes 2 and 4 to our condensed consolidated financial statements.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Taxes [Abstract]	'
Income Taxes	'
	12.  Income Taxes
	The Company recorded  income tax expense of $5.2 million for the three months ending March 31, 2014.  During the three months ending March 31, 2013, the Company recorded income tax expense of $4.9 million.
	During the three months ending March 31, 2014, the Company has not received advances from its Mexican operations. The Company has asserted permanent reinvestment of all Mexico undistributed earnings as of December 31, 2013. The impact of the planned annual dividends for 2014, net of foreign tax credits, is reflected in the estimated annual effective tax rate.
	During the quarter ended March 31, 2014, the Company experienced an increase in its annualized effective tax rate principally due to the newly enacted Mexico mining tax.
	In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carry forward periods), projected future taxable income and tax-planning strategies in making this assessment. As of March 31, 2014, the Company believes it has sufficient positive evidence to conclude that realization of its federal and foreign deferred tax assets of Gold Resource Corporation are more likely than not to be realized. However, the Company has determined that the realization of its state deferred tax assets is not more likely that not to be realized and has a valuation allowance offsetting the state deferred tax assets.
	As of March 31, 2014, the Company believes that it has no liability for uncertain tax positions. If the Company were to determine there was an uncertain tax position, the Company would recognize the liability and related interest and penalties within income tax expense.
	The Company is currently not undergoing any income tax examinations in any jurisdiction, however to the extent that net operating losses have been utilized in either the current or preceding years, such losses may be subject to future income tax examination.

Net_Income_Per_Share

Net Income Per Share	3 Months Ended
	Mar. 31, 2014
Net Income Per Share [Abstract]	'
Net Income Per Share	'
	13. Net Income per Share
	Basic earnings per share is calculated based on the weighted average number of common shares outstanding for the period.  Diluted earnings per share is calculated based on the assumption that stock options outstanding, which have an exercise price less than the average market price of the Company’s common shares during the period, have been exercised on the later of the beginning of the period or the date granted and that the funds obtained from the exercise were used to purchase common shares at the average market price during the period.
	The effect of potentially dilutive stock options on the weighted average number of shares outstanding for the three months ended March  31, 2014 and 2013 is as follows:
			Three months ended March 31,
			2014		2013
			(in thousands, except share data)
	Net income	$	7,125	$	7,387
	Basic weighted average common shares outstanding		53,934,925		52,679,369
	Dilutive effect of stock options		762,785		2,906,662
	Diluted weighted average common shares outstanding		54,697,710		55,586,031
	Net income per basic share	$	0.13	$	0.14
	Net income per diluted share	$	0.13	$	0.13
	Stock options totaling 3.1 million for the three months ending March  31, 2014 were excluded from the computation of diluted weighted average shares outstanding, since the exercise price of those stock options exceeded the average market price of the Company’s common shares of $5.08 during the three months ended March  31, 2014. Stock options totaling 2.3 million for the three months ending March  31, 2013 were excluded from the computation of diluted weighted average shares outstanding, since the exercise price of those stock options exceeded the average market price of the Company’s common shares of $13.61 during the three months ended March  31, 2013.

Legal_Proceedings

Legal Proceedings	3 Months Ended
	Mar. 31, 2014
Legal Proceedings [Abstract]	'
Legal Proceedings	'
	14.  Legal Proceedings
	A securities class action lawsuit subsequently captioned In re Gold Resource Corp. Securities Litigation, No.1:12-cv-02832 was filed on October 25, 2012 in the U.S. District Court for the District of Colorado naming the Company and certain of its current and former officers and directors as defendants.  The complaint alleged violations of federal securities laws by the Company and certain of its officers and directors. On July 15, 2013, the federal district court granted the Company’s motion to dismiss the lawsuit with prejudice.  The plaintiff has appealed the District Court’s decision to the United States Court of Appeals for the Tenth Circuit.
	On February 8, 2013, a shareholder’s derivative lawsuit entitled City of Bristol Pension Fund v. Reid et al., No. 1:13-CV-00348 was filed in the U.S. District Court for the District of Colorado naming the Company as a nominal defendant, and naming seven of its current and former officers and directors as defendants. The lawsuit alleges breach of fiduciary duty, gross mismanagement and unjust enrichment and seeks to recover, for the Company’s benefit, unspecified damages purportedly sustained by the Company in connection with the alleged misconduct identified in the class action lawsuit discussed above and an award of attorney’s fees and costs. The action was stayed pending resolution of the motion to dismiss in the securities class action lawsuit and the stay has been extended pending the appeal. There has been no discovery as the case is in its initial stages and accordingly, the Company is not in a position to assess the likelihood or estimate the potential range of loss associated with this matter; however, pursuant to the Company’s articles of incorporation and contractual agreements with the individuals, it is obligated to indemnify its officers and directors with respect to this litigation and the Company will bear the cost associated with defense of these claims.

Nature_Of_Operations_And_Summa1

Nature Of Operations And Summary Of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2014
Nature Of Operations And Summary Of Significant Accounting Policies [Abstract]	'
Nature of Operations	'
	Nature of Operations
	Gold Resource Corporation (the “Company”) was organized under the laws of the State of Colorado on August 24, 1998. The Company is a producer of metal concentrates that contain gold, silver, copper, lead and zinc at its El Aguila Project in the southern state of Oaxaca, Mexico.  The El Aguila Project includes the El Aguila open pit mine, which ceased operations in February 2011, and the La Arista underground mine, which is currently in operation. The Company is also performing exploration and evaluation work on its portfolio of base and precious metal exploration properties in Mexico and is evaluating other properties for possible acquisition.
	On April 30, 2014, the Company announced the completion of its reserve study and issued a report dated December 31, 2013 confirming the existence of proven and probable reserves as defined in Industry Guide 7 promulgated by the U.S. Securities and Exchange Commission (“Guide 7”). As a result of the completion of the reserve study, the Company has transitioned from an Exploration Stage Enterprise to a Production Stage Enterprise consistent with Guide 7. The Company no longer considers itself to be a Development Stage Entity as defined in Accounting Standards Codification 915 – Development Stage Entities (“ASC 915”). Accordingly, cumulative and other disclosures required by ASC 915 are no longer included in the Company’s financial statements.
Basis Of Presentation	'
	Basis of Presentation
	Basis of Presentation: The unaudited interim condensed consolidated financial statements included herein are expressed in United States dollars and were prepared in conformance with United States generally accepted accounting principles (“U.S. GAAP”) and applicable rules of the SEC regarding interim financial reporting. The unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly owned U.S. subsidiary GRC Nevada Inc. (“GRC Nevada”) and Mexican subsidiary Don David Gold Mexico S.A. de C.V. (“Don David Gold Mexico”).  Significant intercompany accounts and transactions have been eliminated.  Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to SEC rules and regulations, although the Company believes that the disclosures included herein are adequate to make the information presented not misleading.  These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto contained in the Company’s Form 10-K for the year ended December 31, 2013.  Except as noted below, there have been no material changes to the footnotes from those accompanying the audited financial statements contained in the Company’s Form 10-K.
	In management’s opinion, the unaudited condensed consolidated financial statements contained herein reflect all material normal and recurring adjustments that are necessary for the fair presentation of the Company’s financial position, results of operations, and cash flows on a basis consistent with that of its audited consolidated financial statements for the year ended December 31, 2013. However, the results of operations for the interim period ended March 31, 2014 may not be indicative of results of operations to be expected for the full fiscal year.
Use Of Estimates	'
	Use of Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Management routinely makes judgments and estimates about the effects of matters that are inherently uncertain and bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances.  Actual results could differ from these estimates.
Revenue Recognition	'
	Revenue Recognition: Sales of concentrates are recorded net of treatment and refining charges, plus final settlement and mark-to-market price adjustments.  Treatment and refining charges represent payments or price adjustments that are fixed and applied on a per tonne, pound or ounce basis, and in some cases provide for an increase in charges based on increases in metal prices above a base price. Treatment and refining charges are estimated upon shipment of concentrates based on contractual terms, with adjustments made at final settlement.  Adjustments at final settlement typically do not vary materially from estimates made upon shipment; however, mark-to-market price adjustments could vary materially based on the precious metals market.  In addition, because a portion of the metals contained in concentrates are unrecoverable as a result of the smelting process, the Company’s revenues from sales of concentrates are also recorded net of allowances based on the quantity and value of these estimated unrecoverable metals.  These allowances are negotiated with the buyer of the Company’s concentrates.
Production Costs	'
	Production Costs: Production costs include labor and benefits, royalties, concentrate shipping costs, mining subcontractors, fuel and lubricants, legal and professional fees related to mine operations, stock-based compensation attributable to mine employees, materials and supplies, repairs and maintenance, explosives, housing and food, insurance, reagents, travel, medical services, security equipment, office rent, tools and other costs that support our mining operations.
Mine Development	'
	Mine Development: The Company expenses general prospecting costs and the costs of acquiring and exploring unevaluated mineral properties. When a mineral property is determined to have proven and probable reserves, subsequent development costs are capitalized to mineral properties. When mineral properties are developed and operations commence, capitalized costs are charged to operations using the units-of-production method over proven and probable reserves. Upon abandonment or sale of a mineral property, all capitalized costs relating to the specific property are written off in the period abandoned or sold and a gain or loss is recognized.
Reclassifications	'
	Reclassifications: Certain amounts presented in prior periods have been reclassified to conform to current period presentation.
Exploration Stage Company	'
	Exploration Stage Company:  For the period ended March 31, 2014 the condensed consolidated financial statements are no longer presented in accordance with Accounting Standards Codification 915 and the provisions of SEC Industry Guide 7 relating to exploration stage entities. On April 30, 2014, the Company issued a report on the reserve estimate for the La Arista underground mine at the El Aguila Project with an effective date of December 31, 2013. The report confirms the existence of proven and probable reserves, allowing the Company to transition from an Exploration Stage Company as defined in ASC 915 and an Exploration Stage Enterprise to a Production Stage Enterprise as defined in SEC Industry Guide 7. Consistent with the Company’s transition from an Exploration Stage Entity to a Production Stage Entity as defined in Guide 7, certain underground mine development costs associated with the Company's El Aguila Project were capitalized beginning January 1, 2014.  These costs include the cost of building access ways, lateral development, drift development, ramps and infrastructure development. All such costs are amortized using the units-of-production method over the estimated life of the ore body based on estimated recoverable ounces to be produced from proven and probable reserves.
Investments	'
	Investments: We make elections, on an investment-by-investment basis, as to whether we measure our investments at fair value. Such elections are generally irrevocable. We have elected the fair value method for most of our investments as we believe this method generally provides the most meaningful information to our investors. However, for investments over which we have significant influence, we consider the significance of transactions between our company and our equity affiliates and other factors in determining whether the fair value method should be applied. In general, we elect the fair value option for those equity method investments with which the Company or its consolidated subsidiaries have significant related-party transactions.
	Under the fair value method, investments are recorded at fair value and any changes in fair value are reported in realized and unrealized gains or losses due to changes in fair values of certain investments and debt, net, in our consolidated statement of operations. All costs directly associated with the acquisition of an investment to be accounted for using the fair value method are expensed as incurred. For additional information regarding our fair value method investments, see notes 2 and 4.

Fair_Value_Measurement_Tables

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Measurement [Abstract]	'
Fair Value, by Balance Sheet Reclassification	'
			Fair Value as of March 31, 2014
			Level 1		Level 2		Level 3		Total	Balance Sheet Classification
			(in thousands)
	Receivables related to unsettled invoices (1)	$	-	$	6,442	$	-	$	6,442	Accounts receivable
	Investments in equity securities	$	2,512	$	-	$	231	$	2,743	Investments
			Fair Value as of December 31, 2013
			Level 1		Level 2		Level 3		Total	Balance Sheet Classification
			(in thousands)
	Receivables related to unsettled invoices (1)	$	-	$	2,307	$	-	$	2,307	Accounts receivable
	Investments in equity securities	$	-	$	-	$	231	$	231	Investments
	(1) Certain concentrate sales contracts provide for provisional pricing as specified in such contracts. These sales contain an embedded derivative related to the provisional pricing mechanism which is bifurcated and accounted for as a derivative. At the end of each reporting period, the Company records an adjustment to sales to mark-to-market outstanding provisional invoices. Because these provisionally priced sales have not yet settled, the mark-to-market adjustment related to these invoices is included in accounts receivable as of each reporting date. The receivable is the sales contract with no quoted market price, whereas the underlying metal values (inputs) are directly observable for the full amount of the receivable (Level 2).

Gold_And_Silver_Bullion_Tables

Gold And Silver Bullion (Tables)	3 Months Ended
	Mar. 31, 2014
Gold And Silver Bullion [Abstract]	'
Schedule Of Company's Holdings	'
			March 31, 2014				December 31, 2013
			Gold		Silver		Gold		Silver
			(in thousands, except ounces and per ounce )				(in thousands, except ounces and per ounce )
	Ounces		1,690		92,996		1,693		93,225
	Carrying value per ounce	$	1,206.25	$	18.86	$	1,206.23	$	18.86
	Total carrying value	$	2,039	$	1,754	$	2,042	$	1,759

Investments_Tables

Investments (Tables)	3 Months Ended
	Mar. 31, 2014
Investments [Abstract]	'
Investments	'
			Fair Value as of March 31, 2014
			Cost		Accumulated unrealized gain		Fair Value
			(in thousands)
	Investments in equity securities
	Canamex Resources Corporation - common shares (1)	$	1,805	$	707	$	2,512
	Laguna Gold Pty Ltd - common shares		231		-		231
	Total Investments	$	2,036	$	707	$	2,743
	(1) On February 26, 2014, the Company announced the purchased 22,222,222 shares in Canamex Resource Corp a publically traded company in Cananda. The Company’s shares represented approximately 18.4% of the outstanding shares of Canamex. Pursuant to the terms of the subscription agreement, the Company appointed Jason Reid as its representative to the Board of Directors of Canamex on April 14, 2014.
			Fair Value as of December 31, 2013
			Cost		Accumulated unrealized gain		Fair Value
			(in thousands)
	Investments in equity securities
	Laguna Gold Pty Ltd - common shares	$	231	$	-	$	231
	Total Investments	$	231	$	-	$	231

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Mar. 31, 2014
Inventories [Abstract]	'
Summary Of Inventories	'
			March 31,		December 31,
			2014		2013
			(in thousands)
	Ore stockpiles - underground mine	$	987	$	1,586
	Concentrates		917		480
	Materials and supplies		5,063		5,402
	Inventories - current		6,967		7,468
	Ore stockpiles - open pit mine		903		903
	Inventories - non-current		903		903
	Total inventories	$	7,870	$	8,371

Property_And_Equipment_Tables

Property And Equipment (Tables)	3 Months Ended
	Mar. 31, 2014
Property And Equipment [Abstract]	'
Schedule Of Property And Equipment	'
			March 31,		December 31,
			2014		2013
			(in thousands)
	Mine development	$	2,593	$	-
	Trucks and autos		1,875		1,875
	Building		1,738		1,737
	Office furniture and equipment		2,704		2,698
	Construction in progress		1,570		-
	Machinery and equipment		17,529		17,510
	Subtotal		28,009		23,820
	Accumulated depreciation and amortization		-6,503		-5,693
	Total property, equipment and mine development - net	$	21,506	$	18,127
Schedule Of Capital Lease Obligations	'
			March 31,
			2014
			(in thousands)
	2014	$	1,211
	2015		1,578
	2016		901
	Total payments due		3,690
	Less amounts representing interest		-199
	Subtotal		3,491
	Less current portion		-1,476
	Non-current portion	$	2,015

Reclamation_and_Remediation_Ta

Reclamation and Remediation (Tables)	3 Months Ended
	Mar. 31, 2014
Reclamation and Remediation [Abstract]	'
Changes In Reclamation and Remediation	'
			March 31,		December 31,
			2014		2013
			(in thousands)
	Reclamation and remediation liabilities – opening balance	$	2,887	$	2,790
	Additions and changes in estimates		-		112
	Foreign currency exchange loss		-4		-15
	Reclamation and remediation liabilities – ending balance	$	2,883	$	2,887

Stock_Options_Tables

Stock Options (Tables)	3 Months Ended
	Mar. 31, 2014
Stock Options [Abstract]	'
Schedule of Share-based Compensation, Stock Options, Activity	'
		Stock Options		Weighted Average Exercise Price (per share)		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
	Outstanding as of January 1, 2014	5,615,000	$	9.66		6.7	$	3,364
	Granted	10,000		5.81
	Forfeited	-240,000		17.64
	Exercised	-400,000		0.25
	Outstanding as of March 31, 2014	4,985,000	$	10.10		6.8	$	2,127
	Vested and exercisable as of March 31, 2014	3,438,335	$	8.08		6.0	$	2,127
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range	'
		Outstanding						Exercisable
	Range of Exercise Prices	Number of Options		Weighted Average Remaining Contractual Term (in years)		Weighted Average Exercise Price (per share)		Number of Options		Weighted Average Exercise Price (per share)
	$3.40 - $3.95	1,900,000		4.5	$	3.66		1,900,000	$	3.66
	$5.81 - $14.36	1,765,000		8.2		10.90		1,098,334		11.64
	$17.10 - $20.51	1,320,000		8.4		18.31		440,001		18.31
		4,985,000		6.8	$	10.10		3,438,335	$	8.08
Schedule Of Stock-Based Compensation Expense Allocated Between Production And General And Administrative Expense	'
			Three months ended March 31,
			2014		2013
			(in thousands)
	Production costs	$	466	$	422
	General and administrative expenses		317		1,090
	Total stock-based compensation	$	783	$	1,512
Schedule of Assumptions Used to Determine the Value of our Stock-based Awards	'
		Three months ended March 31,
		2014		2013
	Risk-free interest rate	1.53%		0.81% - 0.88%
	Dividend yield	1.63%		3.25% - 3.40%
	Expected volatility	55.35%		63.00% - 63.15%
	Expected life in years	5		5

Other_Expense_Tables

Other Expense (Tables)	3 Months Ended
	Mar. 31, 2014
Other Income (Expense) [Abstract]	'
Schedule Of Other Income (Expense)	'
			Three months ended March 31,
			2014		2013
			(in thousands)
	Unrealized foreign currency exchange (loss) gain	$	-137	$	119
	Realized foreign currency exchange (loss) gain		-47		25
	Impairment loss on gold and silver bullion		-		-178
	Realized gain (loss) from gold and silver bullion converted		1		-39
	Unrealized gain due to changes in fair value of investments (1)		702
	Interest income		69		39
	Interest expense		-85		-
	Other expense		-34		-2
	Total other income (expense)	$	469	$	-36

Net_Income_Per_Share_Tables

Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Net Income Per Share [Abstract]	'
Net Income Per Share	'
			Three months ended March 31,
			2014		2013
			(in thousands, except share data)
	Net income	$	7,125	$	7,387
	Basic weighted average common shares outstanding		53,934,925		52,679,369
	Dilutive effect of stock options		762,785		2,906,662
	Diluted weighted average common shares outstanding		54,697,710		55,586,031
	Net income per basic share	$	0.13	$	0.14
	Net income per diluted share	$	0.13	$	0.13

Fair_Value_Measurement_Balance

Fair Value Measurement (Balance Sheet Classification) (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Receivables related to unsettled invoices	$6,442	[1]	$2,307	[1]
Available-for-sale Securities	2,743		231
Fair Value Inputs Level 1 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Available-for-sale Securities	2,512		'
Fair Value Inputs Level 2 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Receivables related to unsettled invoices	6,442	[1]	2,307	[1]
Fair Value Inputs Level 3 [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Available-for-sale Securities	$231		$231
[1]	Certain concentrate sales contracts provide for provisional pricing as specified in such contracts. These sales contain an embedded derivative related to the provisional pricing mechanism which is bifurcated and accounted for as a derivative. At the end of each reporting period, the Company records an adjustment to sales to mark-to-market outstanding provisional invoices. Because these provisionally priced sales have not yet settled, the mark-to-market adjustment related to these invoices is included in accounts receivable as of each reporting date. The receivable is the sales contract with no quoted market price, whereas the underlying metal values (inputs) are directly observable for the full amount of the receivable (Level 2).

Gold_And_Silver_Bullion_Narrat

Gold And Silver Bullion (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Shareholders' Equity [Line Items]	'	'
Realized gain (loss) on gold/silver coin	$1,000	($39,000)
Impairment loss on gold and silver bullion	'	178,000
Gold And Silver [Member]	'	'
Shareholders' Equity [Line Items]	'	'
Total cost of gold and silver	'	$500,000
Gold [Member]	'	'
Shareholders' Equity [Line Items]	'	'
Ounces of gold purchased	'	302
Converted ounces	3	348
Silver [Member]	'	'
Shareholders' Equity [Line Items]	'	'
Converted ounces	229	1,578

Gold_And_Silver_Bullion_Schedu

Gold And Silver Bullion (Schedule Of Company's Holdings) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Schedule of Investments [Line Items]	'	'
Total carrying value	$3,793	$3,801
Gold [Member]	'	'
Schedule of Investments [Line Items]	'	'
Ounces	1,690	1,693
Carrying value per ounce	1,206.25	1,206.23
Total carrying value	2,039	2,042
Silver [Member]	'	'
Schedule of Investments [Line Items]	'	'
Ounces	92,996	93,225
Carrying value per ounce	18.86	18.86
Total carrying value	$1,754	$1,759

Investments_Details

Investments (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014		Feb. 26, 2014	Dec. 31, 2013
Cost	$2,036		'	$231
Accumulated unrealized gain	707		'	'
Fair Value	2,743		'	231
Shares purchased available for sale securities	'		22,222,222	'
Ownership percentage	'		18.40%	'
Canamex ResourcesCorporation - common shares [Member]	'		'	'
Cost	1,805	[1]	'	'
Accumulated unrealized gain	707	[1]	'	'
Fair Value	2,512	[1]	'	'
Laguna Gold Pty Ltd - common shares [Member]	'		'	'
Cost	231		'	231
Fair Value	$231		'	$231
[1]	(1) On February 26, 2014, the Company announced the purchased 22,222,222 shares in Canamex Resource Corp a publically traded company in Cananda. The Companybs shares represented approximately 18.4% of the outstanding shares of Canamex. Pursuant to the terms of the subscription agreement, the Company appointed Jason Reid as its representative to the Board of Directors of Canamex on April 14, 2014.

Inventories_Details

Inventories (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Inventories [Abstract]	'	'
Ore stockpiles - underground mine	$987	$1,586
Concentrates	917	480
Materials and supplies	5,063	5,402
Inventories - current	6,967	7,468
Ore stockpiles - open pit mine	903	903
Inventories - non-current	903	903
Total inventories	$7,870	$8,371

Property_And_Equipment_Narrati

Property And Equipment (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Depreciation expense	$0.70	$0.70
amortization expense	0.1	0
Capital lease term	'3 years	'
Monthly lease payment amount	0.1	'
Purchase price option amount after end of lease term	0.1	'
Present Value of Future Minimum Lease Payments	$4.80	'
Maximum [Member]	'	'
Lease interest rate	5.50%	'
Minimum [Member]	'	'
Lease interest rate	4.50%	'

Property_And_Equipment_Schedul

Property And Equipment (Schedule Of Property And Equipment) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Property, equipment and mine development [Line Items]	'	'
Property, equipment and mine development, gross	$28,009	$23,820
Accumulated depreciation and amortization	-6,503	-5,693
Total property, equipment and mine development, net	21,506	18,127
Mine Development [Member]	'	'
Property, equipment and mine development [Line Items]	'	'
Property, equipment and mine development, gross	2,593	'
Trucks And Autos [Member]	'	'
Property, equipment and mine development [Line Items]	'	'
Property, equipment and mine development, gross	1,875	1,875
Building [Member]	'	'
Property, equipment and mine development [Line Items]	'	'
Property, equipment and mine development, gross	1,738	1,737
Office Furniture And Equipment [Member]	'	'
Property, equipment and mine development [Line Items]	'	'
Property, equipment and mine development, gross	2,704	2,698
Construction in Progress [Member]	'	'
Property, equipment and mine development [Line Items]	'	'
Property, equipment and mine development, gross	1,570	'
Machinery And Equipment [Member]	'	'
Property, equipment and mine development [Line Items]	'	'
Property, equipment and mine development, gross	$17,529	$17,510

Property_And_Equipment_Schedul1

Property And Equipment (Schedule Of Capital Lease Obligations) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Property And Equipment [Abstract]	'	'
2014	$1,211	'
2015	1,578	'
2016	901	'
Total payments due	3,690	'
Less amounts representing interest	-199	'
Subtotal	3,491	'
Less current portion	-1,476	-1,469
Capital lease obligations	$2,015	$2,387

Reclamation_and_Remediation_De

Reclamation and Remediation (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Reclamation and Remediation [Abstract]	'	'
Reclamation and remediation liabilities - opening balance	$2,887	$2,790
Additions and changes in estimates	'	112
Foreign currency exchange loss	-4	-15
Reclamation and remediation liabilities - ending balance	$2,883	$2,887

Shareholders_Equity_Narrative_

Shareholders' Equity (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Shareholders' Equity [Line Items]	'	'
Dividends declared	$1,600,000	$9,500,000
Dividends paid on common stock	1,600,000	9,500,000
Retained Earnings [Member]	'	'
Shareholders' Equity [Line Items]	'	'
Dividends declared	1,400,000	1,500,000
Additional Paid-in Capital [Member]	'	'
Shareholders' Equity [Line Items]	'	'
Dividends declared	200,000	8,000,000
Gold And Silver [Member]	'	'
Shareholders' Equity [Line Items]	'	'
Dividend Exchange Program	$8,000	$700,000
Gold [Member]	'	'
Shareholders' Equity [Line Items]	'	'
Converted ounces	3	348
Silver [Member]	'	'
Shareholders' Equity [Line Items]	'	'
Converted ounces	229	1,578

Concentrate_Sales_Settlements_

Concentrate Sales Settlements (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Deferred Revenue Arrangement [Line Items]	'	'
Smelter refining fees, treatment charges and penalties	$2.90	$4.20
Settlement Of Provisional Invoices [Member]	'	'
Deferred Revenue Arrangement [Line Items]	'	'
Increase (decrease) in sales revenue	-0.7	0.5
Fair Value [Member]	'	'
Deferred Revenue Arrangement [Line Items]	'	'
Increase (decrease) in sales revenue	($1.20)	($2.30)

Stock_Options_Narrative_Detail

Stock Options (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Stock Options [Abstract]	'	'
Aggregate grant date fair value of stock options granted during the period	$23,000	'
Stock options vesting period	'3 years	'
Stock options exercise period	'10 years	'
Total fair value of shares vested	700,000	'
Non-cash compensation expense related to stock options	783,000	1,512,000
Estimated unrecognized compensation cost from unvested options	$6,400,000	'
Estimated unrecognized compensation cost from unvested options, period of recognition	'3 years	'

Stock_Options_Summary_of_Activ

Stock Options (Summary of Activity Under Stock Option Plan (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]	'	'
Outstanding as of January 1, 2014	5,615,000	'
Granted	10,000	'
Forfeited	-240,000	'
Exercised	-400,000	'
Outstanding as of March 31, 2014	4,985,000	5,615,000
Vested and exercisable as of March 31, 2014	3,438,335	'
Weighted Average Exercise Price	'	'
Outstanding as of January 1, 2014 Weighted Average Exercise Price, Beginning Balance	$9.66	'
Weighted Average Exercise Price, Granted	$5.81	'
Weighted Average Exercise Price, Forfeited	$17.64	'
Weighted Average Exercise Price, Exercised	$0.25	'
Outstanding as of March 31, 2014 Weighted Average Exercise Price, Ending Balance	$10.10	$9.66
Weighted Average Exercise Price, Vested and exercisable as of March 31, 2014	$8.08	'
Weighted -Average Remaining contractual Term (in yrs)	'	'
Weighted Average Remaining Contractual Term (in yrs), Outstanding as of January 1, 2014	'6 years 9 months 18 days	'6 years 8 months 12 days
Weighted Average Remaining Contractual Term (in yrs), Outstanding as of March 31, 2014	'6 years 9 months 18 days	'6 years 8 months 12 days
Weighted Average Remaining Contractual Term (in yrs), Vested and exercisable as of March 31, 2014	'6 years	'
Aggregate Intrinsic value	'	'
Aggregate Intrinsic Value, Outstanding as of January 1, 2014	$3,364	'
Aggregate Intrinsic Value, Outstanding as of March 31, 2014	2,127	3,364
Aggregate Intrinsic Value, Vested and exercisable as of March 31, 2014	$2,127	'

Stock_Options_Summarized_Infor

Stock Options (Summarized Information About Stock Options Outstanding (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'
Stock options outstanding	4,985,000
Weighted Average Remaining Contractual Term (in yrs)	'6 years 9 months 18 days
Weighted Average Exercise Price	$10.10
Number of Options Exercisable	3,438,335
Weighted Average Exercise Price for Exercisable options	$8.08
Range 1	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'
Stock options exercise price range, lower limit	$3.40
Stock options exercise price range, upper limit	$3.95
Stock options outstanding	1,900,000
Weighted Average Remaining Contractual Term (in yrs)	'4 years 6 months
Weighted Average Exercise Price	$3.66
Number of Options Exercisable	1,900,000
Weighted Average Exercise Price for Exercisable options	$3.66
Range 2	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'
Stock options exercise price range, lower limit	$5.81
Stock options exercise price range, upper limit	$14.36
Stock options outstanding	1,765,000
Weighted Average Remaining Contractual Term (in yrs)	'8 years 2 months 12 days
Weighted Average Exercise Price	$10.90
Number of Options Exercisable	1,098,334
Weighted Average Exercise Price for Exercisable options	$11.64
Range 3	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'
Stock options exercise price range, lower limit	$17.10
Stock options exercise price range, upper limit	$20.51
Stock options outstanding	1,320,000
Weighted Average Remaining Contractual Term (in yrs)	'8 years 4 months 24 days
Weighted Average Exercise Price	$18.31
Number of Options Exercisable	440,001
Weighted Average Exercise Price for Exercisable options	$18.31

Stock_Options_Schedule_Of_Stoc

Stock Options (Schedule Of Stock-Based Compensation Expense Allocated Between Production And General And Administrative Expense) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Stock Options [Abstract]	'	'
Production costs	$466	$422
General and administrative expenses	317	1,090
Total stock-based compensation	$783	$1,512

Stock_Options_Assumptions_Used

Stock Options (Assumptions Used to Determine Value of Stock-Based Awards under Black-Scholes Method (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Stock Options [Abstract]	'	'
Risk-free interest rate, Minimum	1.53%	0.81%
Risk-free interest rate, Maximum	'	0.88%
Dividend yield, minimum	1.63%	3.25%
Dividend yield, maximum	'	3.40%
Expected volatility, Minimum	55.35%	63.00%
Expected volatility, Maximum	'	63.15%
Expected life in years	'5 years	'5 years

Other_Expense_Details

Other Expense (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Other Income (Expense) [Abstract]	'		'
Unrealized foreign currency exchange loss (gain)	($137)		$119
Realized foreign currency exchange (loss) gain	-47		25
Impairment loss on gold and silver bullion	'		-178
Realized gain (loss) from gold and silver bullion converted	1		-39
Unrealized gain due to changes in fair value of investments	-702	[1]	'
Interest income	69		39
Interest expense	-85		'
Other expense	-34		-2
Total other expense	$469		($36)
[1]	(1) Our unrealized gain due to changes in fair values of certain investments include gains associated with changes in fair values that are non-cash in nature until such time that these gains are realized through cash transactions. For additional information regarding our investments and fair value measurements, see notes 2 and 4 to our condensed consolidated financial statements.

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Income Taxes [Abstract]	'	'
Income tax (benefit) expense	$5,229	$4,924

Net_Income_Per_Share_Narrative

Net Income Per Share (Narratives) (Details) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Net Income Per Share [Abstract]	'	'
Stock options excluded from the computation of diluted weighted average shares outstanding	3.1	2.3
Average share price	$5.08	$13.61

Net_Income_Per_Share_Additiona

Net Income Per Share (Additional Information) (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Net Income Per Share [Abstract]	'	'
Net income	$7,125	$7,387
Basic weighted average common shares outstanding	53,934,925	52,679,369
Dilutive effect of stock options	762,785	2,906,662
Diluted weighted average common shares outstanding	54,697,710	55,586,031
Basic:	'	'
Net (loss) income per basic share	$0.13	$0.14
Diluted:	'	'
Net (loss) income per diluted share	$0.13	$0.13