Asset Retirement and Reclamation Liabilities

3 Months Ended

Mar. 31, 2024

Asset Retirement and Reclamation Liabilities

Asset Retirement and Reclamation Liabilities

10. Asset Retirement and Reclamation Liabilities

The Company has detailed closure plans for reclamation activity at the Rodeo Property. The Company stopped mining at the Rodeo Property in June 2023 and has up to three years to begin reclamation activities. The Company will continue to accrue additional estimated asset retirement obligation “ARO” amounts based on the closure plan and as activities requiring future reclamation and remediation occur.

Asset retirement and reclamation liabilities consist of the following:

	March 31,		December 31,
	2024		2023
	(in thousands)
Current asset retirement and reclamation liabilities	$	150	$	150
Non-current asset retirement and reclamation liabilities		306		306
	$	456	$	456

Current asset retirement and reclamation liabilities is included in Other current liabilities (see Note 11).

The following table presents the changes in the Company’s asset retirement and reclamation liabilities for the three months ended March 31, 2024 and 2023:

	Three Months Ended
	March 31,
	2024		2023
	(in thousands)
Balance at January 1,	$	456	$	456
Changes in estimates, and other		—		—
Accretion expense		—		—
Balance at March 31,	$	456	$	456