Note 5 - Asset Retirement Obligations

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Asset Retirement Obligation Disclosure [Text Block]

NOTE

5

—ASSET RETIREMENT OBLIGATIONS

The Company estimates its asset retirement obligations (“ARO”) for final reclamation based upon detailed engineering calculations of the amount and timing of the future cash spending for a

third

-party to perform the required work. Spending estimates were escalated for inflation at

2%

per year and the estimated cash outflows were then discounted at

4%

at

December 31, 2018

and

2017.

Amounts recorded related to asset retirement obligations are as follows:

	Year Ended December 31,
(In thousands)	2018			2017
Balance at beginning of year	$	12,347		$	10,129
Additional asset retirement obligations incurred		131			2,034
Accretion expense		494			405
Revisions to estimates		(194	)		(221	)
Balance at end of year	$	12,778		$	12,347