Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Components of income tax expense (benefit)

The components of the Company’s income tax expense (benefit) were as follows (in thousands):

	Year Ended
	2020		2019
	(as restated)
Current
Federal	$	—	$	—
Deferred
Federal	146,794		(24,609)
Change in Valuation Allowance	(146,794)		24,609
Income Tax Benefit	$	—	$	—

Schedule of effective income tax rate reconciliation

The following table provides a reconciliation of income taxes computed at the United States federal statutory tax rate of 21% in 2020 and 2019 to the income tax provision (in thousands):

	Year Ended
	2020		2019
	(as restated)
Loss before income taxes	$	(136,392)	$	(98,895)
United States statutory income tax rate	21%		21%
Income tax (benefit) at United States statutory income tax rate	$	(28,642)	$	(20,768)
Change in valuation allowance	(146,794)		24,609
Recapitalization transaction	157,855		—
Cancellation of debt income	15,360		—
State tax provision, net of federal benefit	1,263		(3,847)
Warrant fair value adjustment	790		—
Other	168		6
Income Tax Benefit	$	—	$	—

Components of deferred tax assets

The components of the Company’s deferred tax assets are as follows (in thousands):

	December 31,
	2020		2019
	(as restated)
Net operating loss	$	7,675	$	146,382
Mineral properties	39,555		—
Plant, equipment, and mine development	30,767		60,840
Intangible assets	21,710		—
Royalty	6,292		—
Interest expense carryforward	1,935		24,369
Asset retirement obligation	997		927
Stock-based compensation	405		257
Accrued compensation	197		—
Inventories	191		15,438
Reorganization costs	—		7,701
Other liabilities	—		609
Credits and other	—		(6)
Valuation allowance	(109,724)		(256,517)
Total net deferred tax assets	$	—	$	—