Revett Mining 10-Q 5 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	5-May-15
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Trading Symbol	rvm
Entity Registrant Name	Revett Mining Company, Inc.
Entity Central Index Key	1404592
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		39,273,989
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current Assets
Cash and cash equivalents	$722	$2,896
Concentrate settlement and other receivables	268	8
Inventories	3,146	4,573
Prepaid expenses and deposits	268	325
Total current assets	4,404	7,802
Property, plant, and equipment (net)	16,303	16,288
Restricted cash	6,553	6,551
Other long term assets	731	733
Total assets	27,991	31,374
Current liabilities
Trade accounts payable	524	987
Payroll liabilities	319	711
Income, property and mining taxes	259	107
Royalty payable	66	0
Current portion of note payable	4,061	4,377
Total current liabilities	5,229	6,182
Reclamation and remediation liability	4,865	4,769
Total liabilities	10,094	10,951
Commitments and contingencies	0	0
Shareholders' equity
Preferred stock, $0.01par value, 25,000,000 authorized, no shares issued and outstanding	0	0
Common stock, $0.01 par value, 100,000,000 authorized, 39,273,989 and 39,273,989 shares issued and outstanding at March 31, 2015 and December 31, 2014,	393	393
Additional paid-in capital	91,937	91,937
Retained earnings (deficit)	-74,433	-71,907
Total equity	17,897	20,423
Total liabilities and shareholders' equity	$27,991	$31,374

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Preferred Stock, Par Value Per Share	$0.01	$0.01
Preferred Stock, Shares Authorized	25,000,000	25,000,000
Preferred Stock, Shares Issued
Preferred Stock, Shares Outstanding
Common Stock, Par Value Per Share	$0.01	$0.01
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	39,273,989	39,273,989
Common Stock, Shares, Outstanding	39,273,989	39,273,989

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Loss (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenue	$2,268	$6
Expenses:
Cost of sales	2,662	0
Troy Mine suspension related costs	898	1,021
Depreciation and depletion	41	6
Exploration and development	183	236
General & administrative:
Stock based compensation	0	368
Other	869	844
Accretion of reclamation and remediation liability	96	95
Total expenses	4,749	2,570
Income (loss) from operations	-2,481	-2,564
Other income (expenses):
Interest income (expense)	-45	11
Other income	-2	1,288
Gain (loss) on sale of securities	0	429
Foreign exchange gain (loss)	2	2
Total other income (expenses)	-45	1,730
Income (loss) before income taxes	-2,526	-834
Income tax benefit (expense):
Current income tax	0	0
Deferred income tax	0	0
Net income (loss)	-2,526	-834
Other comprehensive income:
Unrealized gain on available for sale securities, net of tax	0	45
Comprehensive income (loss)	-2,526	-789
Net income (loss) for basic and diluted earnings per share	($2,526)	($789)
Basic and diluted earnings (loss) per share	($0.06)	($0.02)
Weighted average number of shares outstanding - basic and diluted	39,273,989	34,641,717

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income (loss) for the period	($2,526)	($834)
Adjustment to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	41	6
Accretion of reclamation and remediation liability	96	95
Loss on disposal of equipment	58	0
Deferred financing fee amortization	3	0
Stock based compensation	0	368
Accrued interest from reclamation trust fund	-2	-3
Loss (gain) on sale of available for sale securities	0	-429
Changes in:
Concentrate settlement and other receivable	-260	-721
Inventories	1,427	45
Prepaid expenses and other assets	57	-117
Accounts payable and accrued liabilities	-637	466
Net cash provided by (used in) operating activities	-1,743	-1,124
Cash flows from investing activities:
Purchase of plant and equipment	-115	-1,911
Proceeds from the sale of available for sale securities	0	959
Net cash used in investing activities	-115	-952
Cash flows from financing activities:
Proceeds from the issuance of common stock, net	0	3,354
Repayment of capital leases	-316	-205
Net cash provided by (used in) financing activities	-316	3,149
Net increase (decrease) in cash and cash equivalents	-2,174	1,073
Cash and cash equivalents, beginning of period	2,896	7,951
Cash and cash equivalents, end of period	$722	$9,024

Consolidated_Statements_of_Sha

Consolidated Statements of Shareholders Equity (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings (Deficit) [Member]	Total
In Thousands, except Share data
Beginning Balance at Dec. 31, 2013	$88,495		$45	($9,984)	$78,556
Beginning Balance (Shares) at Dec. 31, 2013	34,596,387
Reclassification due to change in par value of common shares	-88,149	88,149
Issue of shares for exercise of options	2	77			79
Issue of shares for exercise of options (Shares)	158,500
Issue of shares	45	3,292			3,337
Issue of shares (Shares)	4,499,102
Issue of shares for compensation		16			16
Issue of shares for compensation (Shares)	20,000
Reclassification of gain on sale of marketable securities, net of tax			-45		-45
Stock-based compensation on options granted		403			403
Net loss for the period				-61,923	-61,923
Ending Balance at Dec. 31, 2014	393	91,937		-71,907	20,423
Ending Balance (Shares) at Dec. 31, 2014	39,273,989
Net loss for the period				-2,526	-2,526
Ending Balance at Mar. 31, 2015	$393	$91,937		($74,433)	$17,897
Ending Balance (Shares) at Mar. 31, 2015	39,273,989

Basis_of_Presentation_and_Liqu

Basis of Presentation and Liquidity	3 Months Ended
	Mar. 31, 2015
Basis of Presentation and Liquidity [Text Block]	1	Basis of Presentation and Liquidity
	In the opinion of management, the accompanying unaudited interim consolidated balance sheets and consolidated statements of operations and comprehensive income (loss), cash flows, and shareholders’ equity contain all adjustments, consisting of normal recurring items, necessary to present fairly, in all material respects, the financial position of Revett Mining Company, Inc. (“Revett Mining,” the “Company,” “we” or “us”) as of March 31, 2015 and December 31, 2014, and the results of its operations and its cash flows for the three month periods ended March 31, 2015 and 2014. The operating and financial results for Revett Mining for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ended December 31, 2015.
	These unaudited interim financial statements have been prepared by management in accordance with generally accepted accounting principles used in the United States of America (U.S. GAAP) and are presented in U.S. dollars. These unaudited interim consolidated financial statements do not include all note disclosures required by U.S. GAAP on an annual basis, and therefore should be read in conjunction with the annual audited consolidated financial statements for the year ended December 31, 2014 filed with the appropriate securities regulatory authorities.
	Revett Mining (formerly known as Revett Minerals Inc.) was incorporated in Canada in August 2004 to acquire Revett Silver Company and undertake a public offering of its common shares, transactions that were completed in February 2005. Revett Silver Company, a Montana corporation, was organized in April 1999 to acquire the Troy mine (“Troy”) and the Rock Creek project (“Rock Creek”) from ASARCO Incorporated and Kennecott Montana Company, transactions that were completed in October 1999 and February 2000. Revett Mining Company changed its jurisdiction of incorporation (from Canada to Delaware) and its name (from Revett Minerals to Revett Mining Company) in February 2014, following approval by its shareholders at a special meeting held in January 2014. The Company conducts business through four Montana corporations, all subsidiaries of its wholly-owned Revett Silver Company subsidiary: Troy Mine, Inc., RC Resources, Inc., Revett Exploration, Inc. and Revett Holdings, Inc.
	Troy is an underground silver and copper mine located in northwestern Montana. ASARCO operated the mine from 1981 to 1993, and then placed it on care and maintenance because of low metals prices. We restarted mining operations in late 2004 and commenced commercial production in early 2005. We operated Troy continuously until December 2012, when operations were suspended due to unstable ground conditions in portions of the mine. After an unsuccessful attempt to find an alternative route to our reserve mining areas, a decision was made to construct a new decline from the main haulage route to the North C Beds, giving access to the A and C Beds, and then continue to the undeveloped I Bed mining areas. We successfully reached the North C Beds in the fourth quarter of 2014 and resumed limited ore production, but were compelled to place Troy on care and maintenance early in 2015 due to low metals prices. Development work to the I Beds ceased and the milling operations continued through the end of January 2015. An orderly shutdown took place during February 2015, with the expectation that development and operations may resume in a more favorable price environment.
	Liquidity Considerations and Going Concern
	The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company does not have sufficient cash to fund normal operations and meet its debt obligations for the next twelve months without deferring payments on certain current liabilities or raising additional funds. The Company’s continued losses and lack of capital raise substantial doubt about the Company’s ability to continue as a going concern as of March 31, 2015. In addition, our auditors included an emphasis of a matter paragraph in their audit opinion on our 2014 financial statements. Although the Company raised some additional capital in 2014, it was not sufficient to enable us to meet our obligations and provide access to the Troy ore reserves. On March 26, 2015, the Company entered into an agreement and plan of merger with Hecla Mining Company (“Hecla”), pursuant to which, and subject to the approval of our shareholders and the satisfaction of other conditions specified in the agreement, the Company would merge with and into Hecla in a share exchange transaction in which the Company’s stockholders would receive 0.1622 share of Hecla common stock for each share of common stock of the Company. Total consideration of $0.52 per share is payable in shares of Hecla’s common stock. The total fair value of this offer is approximately $20.4 million. This offer to merge is not complete and is subject to the Company’s shareholders approval, which may or may not happen until mid-2015. If our proposed merger with Hecla is not completed, we will necessarily have to seek additional capital or consider other alternatives, which could include bankruptcy or the sale of some or all of our assets. Our business has been materially and adversely affected by the decline in copper and silver prices and by the suspension of commercial mining operations at Troy.
	Because Troy has been placed on care and maintenance, there is no assurance that production will resume. Accordingly, the Company determined there was impairment of its property, plant and equipment as of December 31, 2014.
	Our earnings and cash flows are subject to copper and silver price volatility, the underlying value and recoverability of mineral resources at Rock Creek, and obtaining the necessary operating permits for Rock Creek.

Changes_affecting_the_2015_con

Changes affecting the 2015 consolidated financial statements and future accounting changes	3 Months Ended
	Mar. 31, 2015
Changes affecting the 2015 consolidated financial statements and future accounting changes [Text Block]	2	Changes affecting the 2015 consolidated financial statements and future accounting changes:
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to receive for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP.
	The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). We are currently evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2017.
	In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. ASU 2014-15 introduces an explicit requirement for management to assess and provide certain disclosures if there is substantial doubt about an entity’s ability to continue as a going concern. ASU 2014-15 is effective for the annual period ending after December 15, 2016. Early adoption is permitted. The Company expects to adopt this guidance when effective, and upon adoption, will evaluate going concern based on this guidance.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2015
Inventory [Text Block]	3	Inventory
	The major components of the Company’s inventory accounts are as follows:
			31-Mar-15		31-Dec-14
	Concentrate inventory	$	-	$	1,248
	Material and supplies		3,146		3,325
		$	3,146	$	4,573

Mineral_Property_Plant_Equipme

Mineral Property, Plant, Equipment, and Mine Development	3 Months Ended
	Mar. 31, 2015
Mineral Property, Plant, Equipment, and Mine Development [Text Block]	4	Mineral Property, Plant, Equipment and Mine Development
	The major components of the Company’s mineral property, plant, and equipment accounts are as follows:
			March 31,			December 31,
			2015			2014
	Troy:
	Property acquisition and development costs	$	2,460		$	2,460
	Plant and equipment		2,261			2,320
	Construction in progress		1,710			1,595
	Buildings and structures		910			910
			7,341			7,285
	Rock Creek:
	Property acquisition costs		8,022			8,022
	Other, corporate		953			953
	Other, mineral properties		28			28
			16,344			16,288
	Accumulated depreciation and depletion:
	Troy Property acquisition and development costs		(24	)		-
	Troy plant and equipment		(8	)		-
	Troy buildings and structures		(3	)		-
			(35	)		-
	Other corporate assets		(6	)		-
			(41	)		-
		$	16,303		$	16,288
	We determined that there was an impairment of property, plant and equipment as of December 31, 2014, due to Troy being placed on care and maintenance and the absence of any assurance that production would be resumed. The estimated fair value of the impairment to these long-lived assets was determined using a market approach that was in turn based on Hecla’s offer to acquire the Company for $20.4 million. The impairment charge of $54.7 million was allocated to each long-lived asset class on a relative carrying value basis as per Accounting Standards Codification (“ASC”) 360-10. This impairment has resulted in a new cost basis for the property, plant and equipment and future depreciation will be based on this carrying value.
	Revett Holdings Inc., a wholly owned subsidiary of the Company, owns undeveloped real property having a carrying value of $0.8 million ($3.6 million less impairment adjustment of $2.8 million) that were purchased in order to meet mitigation requirements at Rock Creek. This property will be transferred to the U.S. Forest Service or the State of Montana once the phase 1 evaluation program or phase 2 mine construction and development of Rock Creek commences. The cost of the property will be amortized if Rock Creek is placed into production.

Available_for_sale_securities

Available for sale securities	3 Months Ended
	Mar. 31, 2015
Available for sale securities [Text Block]	5	Available for sale securities
	During the quarter ended March 31, 2014, the Company sold all of its available for sale equity securities for approximately $1.0 million, and recognized a gain of $0.4 million.

Debt_obligations

Debt obligations	3 Months Ended
	Mar. 31, 2015
Debt obligations [Text Block]	6	Debt obligations
	At March 31, 2015 and December 31, 2014, the balance of the Company’s long-term debt obligations were as follows:
			March 31,			Dec. 31,
			2015			2014
	Note payable	$	4,061		$	4,377
	Less current portion		(4,061	)		(4,377	)
		$	-		$	-
	The Company entered into a new note payable in August 2014. The amount borrowed was $5 million with a 30 month term and a 6.25% interest rate. Monthly principal and interest payments are $0.2 million ($2.2 million annually). The note is collateralized by certain equipment at Troy. The Company used a portion of the proceeds to pay off the two remaining capital leases which principal balances were approximately $0.4 million. At March 31, 2015, the Company was in default on the note.   In April, the note was modified to provide for monthly interest only payments until September 2015 when  principal payments resume. The total balance is recorded as current since the Company does not anticipate being able to pay the amounts due in 2015 and therefore, will be in default on the note.

Share_Capital

Share Capital	3 Months Ended
	Mar. 31, 2015
Share Capital [Text Block]	7	Share Capital
	(a)	Common Stock
	During the first quarter 2014, the Company’s shareholders approved a change of jurisdiction of incorporation from Canada to the United States. This resulted in a change in the par value of the Company’s common stock from no par value per share to $0.01 per share.
	The Company has one class of $0.01 par value common stock of which 100,000,000 are authorized for issue. The holders of common stock are entitled to receive dividends without restriction when and if declared by the board of directors. Holders of the Company’s common stock are not entitled to preemptive rights to acquire additional shares of common stock and do not have cumulative voting rights.
	During the quarter ended March 31, 2015, the Company did not issue any common shares.
	During the quarter ended March 31, 2014, the Company issued 32,500 shares of common stock upon the exercise of stock options and 4,499,100 shares of common stock through a private placement for cash, resulting in proceeds to the Company of $3.4 million.
	(b)	Preferred Stock
	The Company is authorized to issue 25,000,000 shares of preferred stock having a par value of $0.01 per share. The Company’s board of directors is authorized to create any series and, in connection with the creation of each series, to fix by resolution the number of shares of each series, and the designations, powers, preferences and rights; including liquidation, dividends, conversion and voting rights, as they may determine. At March 31, 2015, no series of preferred stock had been created or authorized, and no shares of preferred stock were outstanding.
	(c)	Stock Options
	The Company’s Equity Incentive Plan authorizes the Company to reserve and have available for issue 6,500,000 shares of common stock; 1,015,000 stock options were granted to employees during the three months ended March 31, 2014. Each option has an exercise price of $0.79 and expires on March 29, 2019. The weighted average fair value per share of these options was $0.344, for a total value of $0.4 million. The Company used the Black-Scholes option pricing model with a risk-free interest rate of 0.67%, volatility of 71.87% and an expected life of the options of 30 months to estimate the fair values of the options. The options fully vested on the date of grant. In addition, there were 60,000 stock options granted to consultants during the three months ended March 31, 2014, each having an exercise price of $0.79 and expiring on March 29, 2017. The weighted average fair value per share of these options was $0.32, for a total value of $2,000. The Company used the Black-Scholes option pricing model with a risk-free interest rate of 0.285%, volatility of 87.45% and an expected life of the options of 18 months to estimate the fair values of the options. These stock options also fully vested on the date of grant.
	During the quarter ended March 31, 2015, 1,164,500 options were cancelled or expired and no options were exercised.
	During the three months ended March 31, 2014, 72,500 options were cancelled or expired, and 32,500 options were exercised. As of March 31, 2015 and 2014, the intrinsic value of options outstanding and exercisable was $nil and $40,000, respectively.
	Total stock-based compensation recognized during the three months ended March 31, 2015 and 2014 was $0 and $400,000 ; During the three months ended March 31, 2015 and 2014, a total of $nil and $200,000 in stock option compensation was attributable to employees at Troy, and is included in the amounts reported in general and administrative expense.
	As of March 31, 2015, the following stock options were outstanding:
	Options		Options		Exercise	Expiration
	Granted		Exercisable		Price	Date
	10,000		10,000		1.17	6-Sep-15
	20,000		20,000		2.5	1-Nov-15
	20,000		20,000		1.17	6-Sep-16
	321,000		321,000		4.98	21-Mar-16
	15,000		15,000		1.26	26-Aug-16
	60,000		60,000		0.79	29-Mar-17
	388,000		388,000		4.18	1-Apr-17
	20,000		20,000		3.77	3-May-17
	383,000		383,000		2.16	21-Mar-18
	625,000		625,000		0.79	29-Mar-19
	30,000		30,000		0.77	29-May-19
	20,000		20,000		1	19-Aug-19
	1,912,000		1,912,000	$	2.53
	(d)	Stock Purchase Warrants
	The following stock purchase warrants were outstanding at March 31, 2015:
	Number		Exercise price		Expiration
	1,153,844		USD $1.00		26-Mar-16
	1,095,705		USD $1.00		31-Mar-16
	2,249,549
	During the three months ended March 31, 2014, 2,249,549 new warrants were issued and no warrants were exercised. During the three months ended March 31, 2015, no warrants were issued or exercised.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies [Text Block]	8	Commitments and Contingencies
	a)	Reclamation
	The following table shows the changes in the reclamation liability for the periods indicated.
			Three months ended		Three months ended
			31-Mar-15		31-Mar-14
	Reclamation and remediation liability beginning of period	$	4,769	$	4,613
	Accretion expense		96		95
	Ending balance	$	4,865	$	4,708
	(b)	Rock Creek Development
	Rock Creek is located in Sanders County, Montana, approximately five miles northeast of Noxon, Montana and sixteen air miles southeast of Troy. The project comprises 99 patented lode-mining claims, 370 unpatented lode-mining claims, five tunnel site claims, 85 mill site claims and 754 acres of fee land. The patented claims lying within the Cabinet Mountain Wilderness Area convey mineral rights only; the patented claims lying outside the wilderness area convey both mineral and surface rights and title. The patented claims were legally surveyed in 1983, patented in 1989, and occupy an area of approximately 1,809 acres. We conduct our development activities at Rock Creek through RC Resources Inc., another of our second-tier operating subsidiaries. RC Resources Inc. is also the record holder of the various claims and fee lands comprising the project.
	The proposed development of Rock Creek will occur in two phases. The first phase, a two year evaluation program, is expected to confirm and better define the economic and technical viability of the project and reconfirm geotechnical assumptions. This initial phase will include the construction of a 7,000 foot evaluation adit to collect additional technical information; underground infill drilling to establish and confirm mineral resource estimates; geotechnical design studies; bulk sampling of the mineralization for use in metallurgical testing; and, to collect and evaluate hydrologic information. We presently estimate the evaluation program will cost $25 million to $30 million. Once the program is completed, a feasibility study will be commissioned, and, if it is positive, financing to construct a10,000 ton per day mine and process facility will be sought. Additional information concerning our proposed development of Rock Creek is set forth in Item 2 of this report.
	The evaluation program cannot begin until final permits and approvals from the various federal and state agencies that exercise jurisdiction over the project are received. Rock Creek is partially located on United States Forest Service (the “Forest Service”) land within the Kootenai National Forest and under the Cabinet Mountains Wilderness Area, and federal and state approval is required before development can commence. In 2001, the Forest Service issued a Final Environmental Impact Statement (“Final EIS”) under the National Environmental Policy Act (“NEPA”). In 2003, the Forest Service and the Montana Department of Environmental Quality (the “DEQ”) issued a joint administrative decision approving our proposed plan of operations at Rock Creek (the “Record of Decision”). The Record of Decision was based primarily on the findings in the Final EIS and a companion biological opinion (the “Biological Opinion”) issued by the U.S. Fish and Wildlife Service (“USFWS”) in 2003, pursuant to the requirements of the Endangered Species Act (“ESA”). The project was challenged by several regional and national environmental advocacy groups, culminating in a May 2010 Montana federal district court decision that upheld the Biological Opinion but remanded the Record of Decision to the Forest Service to address several NEPA procedural deficiencies. The federal district court decision upholding the Biological Opinion was affirmed by the Ninth Circuit Court of Appeals in November 2012. The Forest Service is currently working to develop a Supplemental EIS that will comply with the Federal District Court’s decision.
	We are also working to satisfy other federal and state permitting requirements that are required for phase 1 development. These include grizzly bear mitigation requirements, reclamation bonding, designing and constructing a water treatment facility, and improving the road leading to the proposed evaluation adit site.
	We currently own approximately 673 acres of fee land, located in Lincoln and Sanders Counties, that has been designated as grizzly bear habitat mitigation lands for Rock Creek. This land and other current and future real estate holdings that are not essential to our day to day mining operations are or will be, held by Revett Holdings, Inc., a wholly-owned Montana subsidiary of Revett Silver.
	Although the Company believes environmental and operating permits will ultimately be obtained, it is possible that successful challenges could delay or prevent the development of the Rock Creek project which, could result in the impairment and write-down of the carrying value related to the Rock Creek property.

Derivative_instruments

Derivative instruments	3 Months Ended
	Mar. 31, 2015
Derivative instruments [Text Block]	9	Derivative instruments
	Concentrate Sales Contracts
	The Company enters into concentrate sales contracts with third-party buyer. The contracts, in general, provide for a provisional payment based upon provisional assays and quoted metal prices and the provisionally priced sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of concentrates at the forward price at the time of sale. The embedded derivative, which is the final settlement based on a future price, does not qualify for hedge accounting. These embedded derivatives are recorded in concentrate settlement and other receivables on the consolidated balance sheet and are adjusted to fair value through earnings each period until the date of final settlement.
	Fixed Forward Contracts
	At March 31, 2015, the Company did not have any fixed forward contracts to sell silver or copper.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Taxes [Text Block]	11	Income Taxes
	For the three months ended March 31, 2015 and 2014, the Company did not report a tax provision or benefit.
	As of March 31, 2015 and December 31, 2014, management of the Company used the guidelines contained in ASC 740 and evaluated the positive and negative evidence available to determine whether a valuation allowance against the deferred tax assets should be established. Management has determined that the Company’s negative evidence of a cumulative loss position after significant permanent differences and the lack of future taxable income based on current conditions regarding Troy outweighted the positive evidence. Management believes that it is more likely than not that the deferred tax assets will not be recovered. Therefore a valuation allowance equal to 100% of the deferred tax assets has been recorded.
	The income tax provision (benefit) for the three months ended March 31, 2015 and 2014 varies from the statutory rate primarily because of the change in valuation allowance for net deferred tax assets and depletion. The Company has estimated an effective tax rate of zero for 2015.
	The Company has U.S. net operating loss carry forward of $58.0 million that expires at various dates between 2019 and 2035. Montana state net operating losses ($45.0 million) expire at various dates between 2015 and 2022. The Company has a net capital loss carry forward of approximately $1.5 million that expires in 2017 and 2018.
	As a result of the domestication of the Company from Canada to Delaware, the Company forfeited a Canadian net operating loss of approximately $10.6 million. The Company’s deferred tax asset and valuation allowance has been reduced by approximately $2.8 million. The Company reviewed all other tax aspects of the reorganization and concluded there was no material tax liability regarding the reorganization.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2015
Fair Value of Financial Instruments [Text Block]	10	Fair Value of Financial Instruments
	The carrying values of cash and cash equivalents, accounts receivable, restricted cash, and accounts payable and accrued liabilities approximate fair value due to their short time to maturity or ability to immediately convert them to cash in the normal course. The carrying values of notes payable obligations approximate fair market values as they are based on market rates of interest.
	The Company classifies financial instruments recognized at fair value in accordance with a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy are described below:
	Level 1	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
	Level 2	Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and
	Level 3	Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
	The following table sets forth the Company’s financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
			Fair value at March 31, 2015
			Total		Level 1		Level 2		Level 3
	Cash and cash equivalents	$	722	$	722	$	-	$	-
			Fair value at December 31, 2014
			Total		Level 1		Level 2		Level 3
	Cash and cash equivalents	$	2,896	$	2,896	$	-	$	-
	The Company’s cash and cash equivalent instruments are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Text Block]	12	Related Party Transactions
	Trafiguara AG has a contract to purchase the silver and copper concentrates produced at Troy. Trafigura Beheer B.V., which is affiliated with Trafigura AG, is the beneficial owner of more than five percent of our outstanding common shares, and is therefore a related party. During the three months ended March 31, 2015 and 2014, Trafigura AG paid us $2.3 million and $0.0 million for our concentrate, respectively.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Text Block]	13	Subsequent events
	On April 17, 2015, the Company and two of its subsidiaries, Revett Silver Company and Revett Holdings, Inc., entered into a term loan and security agreement with Hecla. The term loan is secured by a mortgage on lands owned by the Company’s Revett Holdings, Inc. second-tier subsidiary and allows the Company to borrow up to $1.5 million at Libor plus 5%. The term loan matures on June 30, 2015.
	On April 27, 2015, the Company and CAT Financial Services Corporation agreed to modify the original loan agreement to allow the Company to make interest only payments for March 2015 through August 2015, then resuming the full principal and interest payments.

Inventory_Tables

Inventory (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Inventory [Table Text Block]			31-Mar-15		31-Dec-14
	Concentrate inventory	$	-	$	1,248
	Material and supplies		3,146		3,325
		$	3,146	$	4,573

Mineral_Property_Plant_Equipme1

Mineral Property, Plant, Equipment, and Mine Development (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Mineral Property, Plant and Equipment [Table Text Block]			March 31,			December 31,
			2015			2014
	Troy:
	Property acquisition and development costs	$	2,460		$	2,460
	Plant and equipment		2,261			2,320
	Construction in progress		1,710			1,595
	Buildings and structures		910			910
			7,341			7,285
	Rock Creek:
	Property acquisition costs		8,022			8,022
	Other, corporate		953			953
	Other, mineral properties		28			28
			16,344			16,288
	Accumulated depreciation and depletion:
	Troy Property acquisition and development costs		(24	)		-
	Troy plant and equipment		(8	)		-
	Troy buildings and structures		(3	)		-
			(35	)		-
	Other corporate assets		(6	)		-
			(41	)		-
		$	16,303		$	16,288

Debt_obligations_Tables

Debt obligations (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Long-term Debt and Capital Lease Obligations [Table Text Block]			March 31,			Dec. 31,
			2015			2014
	Note payable	$	4,061		$	4,377
	Less current portion		(4,061	)		(4,377	)
		$	-		$	-

Reclamation_and_remediation_li

Reclamation and remediation liability (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Changes in the reclamation liability [Table Text Block]			Three months ended		Three months ended
			31-Mar-15		31-Mar-14
	Reclamation and remediation liability beginning of period	$	4,769	$	4,613
	Accretion expense		96		95
	Ending balance	$	4,865	$	4,708

Share_Capital_Tables

Share Capital (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Stock Options Outstanding [Table Text Block]	Options	Options		Exercise	Expiration
	Granted	Exercisable		Price	Date
	10,000	10,000		1.17	6-Sep-15
	20,000	20,000		2.5	1-Nov-15
	20,000	20,000		1.17	6-Sep-16
	321,000	321,000		4.98	21-Mar-16
	15,000	15,000		1.26	26-Aug-16
	60,000	60,000		0.79	29-Mar-17
	388,000	388,000		4.18	1-Apr-17
	20,000	20,000		3.77	3-May-17
	383,000	383,000		2.16	21-Mar-18
	625,000	625,000		0.79	29-Mar-19
	30,000	30,000		0.77	29-May-19
	20,000	20,000		1	19-Aug-19
	1,912,000	1,912,000	$	2.53
Schedule of Stock Purchase Warrants Outstanding [Table Text Block]	Number	Exercise price		Expiration
	1,153,844	USD $1.00		26-Mar-16
	1,095,705	USD $1.00		31-Mar-16
	2,249,549

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	3 Months Ended									12 Months Ended
	Mar. 31, 2015									Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis [Table Text Block]			Fair value at March 31, 2015									Fair value at December 31, 2014
			Total		Level 1		Level 2		Level 3			Total		Level 1		Level 2		Level 3
	Cash and cash equivalents	$	722	$	722	$	-	$	-	Cash and cash equivalents	$	2,896	$	2,896	$	-	$	-

Basis_of_Presentation_and_Liqu1

Basis of Presentation and Liquidity (Narrative) (Details) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2015
Basis Of Presentation And Liquidity 1	0.1622
Basis Of Presentation And Liquidity 2	$0.52
Basis Of Presentation And Liquidity 3	$20.40

Mineral_Property_Plant_Equipme2

Mineral Property, Plant, Equipment, and Mine Development (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Mineral Property, Plant, Equipment, And Mine Development 1	$20.40
Mineral Property, Plant, Equipment, And Mine Development 2	54.7
Mineral Property, Plant, Equipment, And Mine Development 3	0.8
Mineral Property, Plant, Equipment, And Mine Development 4	3.6
Mineral Property, Plant, Equipment, And Mine Development 5	$2.80

Available_for_sale_securities_

Available for sale securities (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Available For Sale Securities 1	$1
Available For Sale Securities 2	$0.40

Debt_obligations_Narrative_Det

Debt obligations (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
	M
Debt Obligations 1	$5
Debt Obligations 2	30
Debt Obligations 3	6.25%
Debt Obligations 4	0.2
Debt Obligations 5	2.2
Debt Obligations 6	$0.40

Share_Capital_Narrative_Detail

Share Capital (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
	M
Share Capital 1	$0.01
Share Capital 2	$0.01
Share Capital 3	100,000,000
Share Capital 4	32,500
Share Capital 5	4,499,100
Share Capital 6	3,400,000
Share Capital 7	25,000,000
Share Capital 8	$0.01
Share Capital 9	6,500,000
Share Capital 10	1,015,000
Share Capital 11	0.79
Share Capital 12	0.344
Share Capital 13	400,000
Share Capital 14	0.67%
Share Capital 15	71.87%
Share Capital 16	30
Share Capital 17	60,000
Share Capital 18	0.79
Share Capital 19	0.32
Share Capital 20	2,000
Share Capital 21	0.29%
Share Capital 22	87.45%
Share Capital 23	18
Share Capital 24	1,164,500
Share Capital 25	72,500
Share Capital 26	32,500
Share Capital 27	0
Share Capital 28	40,000
Share Capital 29	0
Share Capital 30	400,000
Share Capital 31	0
Share Capital 32	$200,000
Share Capital 33	2,249,549

Commitments_and_Contingencies_

Commitments and Contingencies (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Commitments And Contingencies 1	$25
Commitments And Contingencies 2	$30

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Income Taxes 1	100.00%
Income Taxes 2	$58
Income Taxes 3	45
Income Taxes 4	1.5
Income Taxes 5	10.6
Income Taxes 6	$2.80

Related_Party_Transactions_Nar

Related Party Transactions (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Related Party Transactions 1	$2.30
Related Party Transactions 2	$0

Subsequent_Events_Narrative_De

Subsequent Events (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Subsequent Events 1	$1.50
Subsequent Events 2	5.00%

Schedule_of_Inventory_Details

Schedule of Inventory (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Inventory Schedule Of Inventory 1	$0
Inventory Schedule Of Inventory 2	1,248
Inventory Schedule Of Inventory 3	3,146
Inventory Schedule Of Inventory 4	3,325
Inventory Schedule Of Inventory 5	3,146
Inventory Schedule Of Inventory 6	$4,573

Schedule_of_Mineral_Property_P

Schedule of Mineral Property, Plant and Equipment (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 1	$2,460
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 2	2,460
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 3	2,261
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 4	2,320
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 5	1,710
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 6	1,595
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 7	910
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 8	910
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 9	7,341
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 10	7,285
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 11	8,022
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 12	8,022
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 13	953
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 14	953
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 15	28
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 16	28
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 17	16,344
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 18	16,288
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 19	-24
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 20	0
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 21	-8
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 22	0
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 23	-3
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 24	0
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 25	-35
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 26	0
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 27	-6
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 28	0
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 29	-41
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 30	0
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 31	16,303
Mineral Property, Plant, Equipment, And Mine Development Schedule Of Mineral Property, Plant And Equipment 32	$16,288

Schedule_of_Longterm_Debt_and_

Schedule of Long-term Debt and Capital Lease Obligations (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Debt Obligations Schedule Of Long-term Debt And Capital Lease Obligations 1	$4,061
Debt Obligations Schedule Of Long-term Debt And Capital Lease Obligations 2	4,377
Debt Obligations Schedule Of Long-term Debt And Capital Lease Obligations 3	-4,061
Debt Obligations Schedule Of Long-term Debt And Capital Lease Obligations 4	-4,377
Debt Obligations Schedule Of Long-term Debt And Capital Lease Obligations 5	0
Debt Obligations Schedule Of Long-term Debt And Capital Lease Obligations 6	$0

Schedule_of_Changes_in_the_rec

Schedule of Changes in the reclamation liability (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Commitments And Contingencies Schedule Of Change In Reclamation Liability 1	$4,769
Commitments And Contingencies Schedule Of Change In Reclamation Liability 2	4,613
Commitments And Contingencies Schedule Of Change In Reclamation Liability 3	96
Commitments And Contingencies Schedule Of Change In Reclamation Liability 4	95
Commitments And Contingencies Schedule Of Change In Reclamation Liability 5	4,865
Commitments And Contingencies Schedule Of Change In Reclamation Liability 6	$4,708

Schedule_of_Stock_Options_Outs

Schedule of Stock Options Outstanding (Details)	3 Months Ended
	Mar. 31, 2015
Share Capital Schedule Of Stock Options Outstanding 1	10,000
Share Capital Schedule Of Stock Options Outstanding 2	10,000
Share Capital Schedule Of Stock Options Outstanding 3	1.17
Share Capital Schedule Of Stock Options Outstanding 4	20,000
Share Capital Schedule Of Stock Options Outstanding 5	20,000
Share Capital Schedule Of Stock Options Outstanding 6	2.5
Share Capital Schedule Of Stock Options Outstanding 7	20,000
Share Capital Schedule Of Stock Options Outstanding 8	20,000
Share Capital Schedule Of Stock Options Outstanding 9	1.17
Share Capital Schedule Of Stock Options Outstanding 10	321,000
Share Capital Schedule Of Stock Options Outstanding 11	321,000
Share Capital Schedule Of Stock Options Outstanding 12	4.98
Share Capital Schedule Of Stock Options Outstanding 13	15,000
Share Capital Schedule Of Stock Options Outstanding 14	15,000
Share Capital Schedule Of Stock Options Outstanding 15	1.26
Share Capital Schedule Of Stock Options Outstanding 16	60,000
Share Capital Schedule Of Stock Options Outstanding 17	60,000
Share Capital Schedule Of Stock Options Outstanding 18	0.79
Share Capital Schedule Of Stock Options Outstanding 19	388,000
Share Capital Schedule Of Stock Options Outstanding 20	388,000
Share Capital Schedule Of Stock Options Outstanding 21	4.18
Share Capital Schedule Of Stock Options Outstanding 22	20,000
Share Capital Schedule Of Stock Options Outstanding 23	20,000
Share Capital Schedule Of Stock Options Outstanding 24	3.77
Share Capital Schedule Of Stock Options Outstanding 25	383,000
Share Capital Schedule Of Stock Options Outstanding 26	383,000
Share Capital Schedule Of Stock Options Outstanding 27	2.16
Share Capital Schedule Of Stock Options Outstanding 28	625,000
Share Capital Schedule Of Stock Options Outstanding 29	625,000
Share Capital Schedule Of Stock Options Outstanding 30	0.79
Share Capital Schedule Of Stock Options Outstanding 31	30,000
Share Capital Schedule Of Stock Options Outstanding 32	30,000
Share Capital Schedule Of Stock Options Outstanding 33	0.77
Share Capital Schedule Of Stock Options Outstanding 34	20,000
Share Capital Schedule Of Stock Options Outstanding 35	20,000
Share Capital Schedule Of Stock Options Outstanding 36	1
Share Capital Schedule Of Stock Options Outstanding 37	1,912,000
Share Capital Schedule Of Stock Options Outstanding 38	1,912,000
Share Capital Schedule Of Stock Options Outstanding 39	2.53

Schedule_of_Stock_Purchase_War

Schedule of Stock Purchase Warrants Outstanding (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Share Capital Schedule Of Stock Purchase Warrants Outstanding 1	1,153,844
Share Capital Schedule Of Stock Purchase Warrants Outstanding 2	$1
Share Capital Schedule Of Stock Purchase Warrants Outstanding 3	1,095,705
Share Capital Schedule Of Stock Purchase Warrants Outstanding 4	$1
Share Capital Schedule Of Stock Purchase Warrants Outstanding 5	2,249,549

Fair_Value_Assets_Measured_on_

Fair Value, Assets Measured on Recurring Basis (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Commitments And Contingencies Fair Value, Assets Measured On Recurring Basis 1	$722
Commitments And Contingencies Fair Value, Assets Measured On Recurring Basis 2	722
Commitments And Contingencies Fair Value, Assets Measured On Recurring Basis 3	0
Commitments And Contingencies Fair Value, Assets Measured On Recurring Basis 4	0
Commitments And Contingencies Fair Value, Assets Measured On Recurring Basis 1		2,896
Commitments And Contingencies Fair Value, Assets Measured On Recurring Basis 2		2,896
Commitments And Contingencies Fair Value, Assets Measured On Recurring Basis 3		0
Commitments And Contingencies Fair Value, Assets Measured On Recurring Basis 4		$0