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Assets Held For Sale
3 Months Ended
Mar. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]  
Assets Held For Sale Assets Held For Sale
As of March 31, 2024 and December 31, 2023, the Company’s Assets held for sale was comprised of equipment not-in-use of $7.1 million.
In August 2022 and with a subsequent amendment, the Company entered into an Equipment Purchase Agreement to sell a total of $13.6 million of equipment. In connection with entry into the Equipment Purchase Agreement, the Company received $1.6 million in nonrefundable deposit payments. Effective March 1, 2024, the buyer terminated a portion of the Equipment Purchase Agreement related to one ball mill and one semi-autogenous (“SAG”) mill. In accordance with Topic 606, Revenue
from Contracts with Customers, because the sale did not materialize, $1.4 million was recognized as Other income in the first quarter of 2024. The remaining $0.1 million in nonrefundable deposit payments have been included in Contract liabilities. See Note 10 – Contract Liabilities for additional details.