Asset Retirement Obligation (“ARO”)

9 Months Ended

Sep. 30, 2022

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation (“ARO”)

Asset Retirement Obligation (“ARO”)

The following table summarizes changes in the Company’s ARO (dollars in thousands):

	September 30, 2022		December 31, 2021
Balance, beginning of period	$	5,193	$	4,785
Accretion	306		408
Balance, end of period	$	5,499	$	5,193

During the three and nine months ended September 30, 2022, the Company did not incur any additional reclamation obligations associated with additional disturbances, or other regulatory requirements. The Company estimates that no significant reclamation expenditures associated with the ARO will be made until 2047 and that reclamation work will be completed by the end of 2065. During the three and nine months ended September 30, 2022, there were no events or changes to the Company’s regulatory environment or new or additional disturbances that would require a change to the Company’s ARO due to changes in estimates. As a result, the Company did not record any adjustments to the ARO.