Segment Information

3 Months Ended

Mar. 31, 2024

Segment Information

Segment Information

17. Segment Information

The Company’s sole activity is the mining, construction and exploration of mineral properties containing precious metals. The Company’s reportable segments are based on the Company’s revenue-producing activities and cash-consuming activities. The Company reports two segments, one for its revenue-producing activities in Mexico, which includes the Rodeo Property, and the other comprised of non-revenue-producing activities, including exploration, construction and general and administrative activities. Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance.

As described in Note 3, the Company’s Velardeña Properties met the criteria to be reported as discontinued operations during the first quarter of 2024. As such, the results of operations for this business are excluded from the Mexico Operations segment in the table below, which only reflects continuing operations, for all periods presented. Assets held for sale are included below in the total assets for the Corporate, Exploration and Other segment.

The financial information relating to the Company’s segments is as follows:

							Exploration, El
			Costs		Depreciation,		Quevar, Velardeña
Three Months Ended			Applicable		Depletion and		and Administrative						Capital
March 31, 2024	Revenue		to Sales		Amortization		Expense		Pre-Tax Loss		Total Assets		Expenditures
Mexico Operations	$	—	$	—	$	22	$	355	$	442	$	2,904	$	—
Corporate, Exploration and Other		—		—		1		1,297		1,305		8,451		—
Consolidated	$	—	$	—	$	23	$	1,652	$	1,747	$	11,355	$	—
Three Months Ended
March 31, 2023
Mexico Operations	$	4,217	$	4,046	$	—	$	929	$	769	$	4,781	$	—
Corporate, Exploration and Other		—		—		4		1,892		2,041		10,129		—
Consolidated	$	4,217	$	4,046	$	4	$	2,821	$	2,810	$	14,910	$	—