Contract Liabilities

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Contract Liabilities

Contract Liabilities

The following table summarizes the components of Contract liabilities (in thousands):

	September 30, 2023		December 31, 2022
Assets held for sale
Equipment not in use(1)	$	1,150	$	1,050
Total	$	1,150	$	1,050

(1)As of September 30, 2023, the Company has received payments totaling $1.2 million in accordance with the amended sales agreement for one SAG mill, one ball mill, and one sub-station transformer. The Company will receive a final payment of $12.4 million no later than June 30, 2024. See Note 7 – Assets Held for Sale for additional details.

Revenues

The table below is a summary of the Company’s gold and silver sales (in thousands, except ounces sold amounts):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
	Amount		Ounces Sold	Amount		Ounces Sold	Amount		Ounces Sold	Amount		Ounces Sold
Gold sales	$	—	—	$	8,456	4,817	$	—	—	$	21,057	11,557
Silver sales	—		—	302		15,131	—		—	698		32,010
Total	$	—		$	8,758		$	—		$	21,755

While the Company is not obligated to sell any of its gold and silver to one customer, the majority of gold and silver sales during both the three and nine months ended September 30, 2022 were to two customers. For the three and six months ended September 30, 2022, 98.9% and 51.3% of revenue was attributable to sales to one customer, respectively.