Asset Retirement Obligation (“ARO”)

3 Months Ended

Mar. 31, 2023

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation

The following table summarizes changes in the Company’s Asset retirement obligation (“ARO”) (in thousands):


	March 31, 2023		December 31, 2022
Balance, beginning of period	$	10,302	$	5,193
Accretion	186		408
Change in estimates	—		4,701
Balance, end of period	$	10,488	$	10,302

During the three months ended March 31, 2023, the Company did not incur additional reclamation obligations associated with additional disturbances, other regulatory requirements, or changes in estimates. The Company estimates that no significant reclamation expenditures associated with the ARO will be made until 2026 and that reclamation work will be completed by the end of 2065. During the three months ended March 31, 2023, 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.