Long-Term Reclamation Liability

6 Months Ended

Jun. 30, 2020

Asset Retirement Obligation Disclosure [Abstract]

Long-Term Reclamation Liability

Retirement Obligation Asset

Following is a reconciliation of the aggregate retirement obligation asset associated with our mining reclamation plans: 

	Six Months Ended			Twelve Months Ended
	June 30, 2020			December 31, 2019
Retirement obligation asset — beginning of period	$	115,926		$	203,274
Additional obligations incurred	—			—
Amounts reclassified to assets held for sale	—			(19,590		)
Amortization of retirement obligation asset	(28,981		)	(67,758		)
Retirement obligation asset — end of period	$	86,945		$	115,926

Long-Term Reclamation Liability

Following is a reconciliation of the aggregate reclamation liability associated with our reclamation plan for our mining projects:

	Six Months Ended		Twelve Months  Ended
	June 30, 2020		December 31, 2019
Long-term reclamation liability — beginning of period	$	6,034,208	$	7,441,091
Reduction of obligation	—		(410,018		)
Amount reclassified to liabilities held for sale	—		(1,019,705		)
Accretion of reclamation liability	10,355		22,840
Long-term reclamation liability — end of period	$	6,044,563	$	6,034,208

Reclamation Liability Reduction by NDEP

On April 30, 2019, the Company was notified by the Nevada Division of Environmental Protection ("NDEP") that the Company's successful reclamation of parts of the Lucerne mine area had reduced the Lucerne project reclamation cost estimate with an updated reclamation bond requirement of $6.8 million. Our total reclamation liability also includes cost estimates for our Dayton project and enhanced reclamation obligations in Storey County, NV.