Note 5 - Asset Retirement Obligations

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

ASSET RETIREMENT OBLIGATIONS

NOTE 5—ASSET RETIREMENT OBLIGATIONS

We estimate 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. Amounts recorded related to asset retirement obligations were as follows:

	December 31,
(In thousands)	2024		2023
Balance at beginning of year	$	28,960	$	28,885
Additional asset retirement obligations acquired/incurred		470		542
Expenditures made		(237)		—
Accretion expense		1,465		1,403
Revisions to estimates		429		(1,870)
Balance at end of year	$	31,087	$	28,960