Reclamation and Remediation

3 Months Ended

Mar. 31, 2020

10. Reclamation and Remediation

The following table presents the changes in reclamation and remediation obligations for the three months ended March 31, 2020 and year ended December 31, 2019:


	2020		2019
	(in thousands)
Reclamation liabilities – balance at beginning of period	$	2,014	$	2,009
Changes in estimate		-		(82)
Foreign currency exchange (gain) loss		(401)		87
Reclamation liabilities – balance at end of period		1,613		2,014

Asset retirement obligation – balance at beginning of period		3,591		1,289
Changes in estimate		435		2,172
Accretion		71		102
Foreign currency exchange (gain) loss		(223)		28
Asset retirement obligation – balance at end of period		3,874		3,591
Total period end balance	$	5,487	$	5,605

The Company’s reclamation liabilities are related to the Aguila project in Mexico.

The Company’s asset retirement obligations were discounted using a credit adjusted risk-free rate of 8%. As of March 31, 2020 and December 31, 2019, the Company recorded an asset retirement obligation of $3.0 million and $2.5 million, respectively, related to the Isabella Pearl project. As of March 31, 2020 and December 31, 2019, the Company’s asset retirement obligation related to the Aguila project in Mexico was $0.9 million and $1.1 million, respectively.