13 Writ e d ow n o f in ves t men t in j oi n t v ent u r e Durin g Q2 2013 the C o mpa n y de t e r mi n e d tha t it wo ul d n ot pa r tic ipa te in th e joi n t v e n tu r e op e r a tio n of th e C l a vos P r oj e c t whic h wi l l r e s ul t in th e dil uti on of SAS ow n e r s hip in te r e s t in t he j oin t ve n tu r e A c c or din gl y SA S r e c or de d a wr i te do wn of th e c a r r ying va l ue of its in v e s tm e n t in t he joi n t v e n tur e pr oj e c t a s a t J un e 30 20 13 i n th e a mou n t of 04 m il l ion Writ e d ow n o f mi nin g equ ip ment Durin g Q2 2013 th e C om pa n y r e c og n ize d a w r it e do wn of 0 6 mil l io n o n c e r ta in o b s ol e t e m in i n g e q ui pm e n t a t H ol t to the i r n e t s a l va ge va l ue F ina nc e c os t s F in a n c e c osts f or Q2 20 13 we r e c o n s iste n t wi th th ose in Q1 2013 a n d d e c r e a s e d b y 0 2 mil l ion whe n c om pa r e d to Q2 2012 due pr i ma r il y to th e d e c r e a s e in th e n on c a s h in t e r e s t c ost on the G ol d N ote s pa r tia l l y off s e t b y the c ost of b o r r o wi n g o n th e b a n k fa c il ity SAS r e tir e d a l l of the ou ts ta n di n g G ol d N ote s o n M a y 8 2 012 a fte r c omp l e tio n o f a US 250 m il l ion s e c ur e d c r e dit fa c il ity wi th th e B a n k of N ova Sco tia S ecu r ed C r ed i t F a cil i t y S e c u re d Cr e d i t F a c il it y A s a t J une 30 201 3 th e C om pa n y wa s in ful l c omp l ia n c e wi th th e d e b t c ove n a n ts a s s oc ia te d wi th th e Se c ur e d C r e dit F a c il ity whi c h c on s ist pr i ma r il y of s a tisfying c e r ta in l e v e l s of th e tota l de b t r a ti o c urr e n t a s s e t r a tio a n d n e t w or th r e q uir e m e n ts a n d c omp l ying wi th va r i ous othe r n e ga tive c ove n a n ts a s de fin e d in the c r e d it a gr e e m e n t G ol d l in k e d Li a bili ti e s The C om pa n ys A dva n c e r o ya l ty pa yme n t o b l iga tio n is c l a s s ifi e d a s a de r iva tiv e i n s tr um e n t a n d a c c or din gl y th e i n s tr u me n t is ma r k ed to ma r k e t fo r e a c h fin a n c ia l r e po r ti n g pe r io d Th e f ol l ow in g for wa r d g ol d p r ic e pa r a m e t e r s a r e us e d fo r p urp ose s o f t he ma r k to ma r k e t c a l c ul a tion s N o t e 1 A m o un t s q u o t e d b y t h e L o n do n Bul li o n M a r ke t A ss o c i a t i o n T he fol l ow i n g ta b l e s u mma r ize s the ma r k to ma r k e t a n d o the r a c tiviti e s r e l a ti n g to th e A dva n c e r oya l ty pa ym e n t o b l iga tion s in c e the b e gi n n i n g of th e fisc a l pe r i od A m o u n t s in t h o u s a n d s o f Ca n a d ia n d o l l a r s Q 2 2 0 1 3 Q 1 2 0 1 3 Q 2 2 0 1 2 Y T D 2 0 1 3 Y T D 2 0 1 2 N o n c a s h i n t e r e s t o n A d v a n c e r o y a l t y p a y m e n t o b l i g a t i o n 145 143 166 288 328 I n t e r e s t a n d s t a n d b y f e e s o n b a n k c r e d i t f a c i l i t y 115 126 93 241 93 A m o r t i z a t i o n o f b a n k c r e d i t f a c i l i t y t r a n s a c t i o n c o s t s 61 72 31 133 31 C a p i t a l l e a s e o b l i g a t i o n s a n d o t h e r 24 12 13 36 29 A c c r e t i o n o f a s s e t r e t i r e m e n t o b l i g a t i o n 152 151 137 303 275 N o n c a s h i n t e r e s t o n Go l d N o t e s 214 867 T o t a l 497 504 654 1 0 0 1 1 6 2 3 A m o u n t s in U n it e d S t a t e s d o ll a r s p e r o u n c e 1 Q 2 2 0 1 3 Q 1 2 0 1 3 Q 4 2 0 1 2 Q 3 2 0 1 2 Q 2 2 0 1 2 S p ot g ol d p r i c e a t p e r i od e n d 1 1 1 9 2 1 5 9 8 1 6 6 4 1 7 7 6 1 5 9 9 A d v a n c e r oy a l t y p a y m e n t ob l i g a t i on 1 2 0 5 1 6 1 3 1 6 8 7 1 7 9 3 1 6 2 2