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


	Year Ended December 31,
	2025		2024
Balance, beginning of period	$	13,151	$	7,973
Accretion	1,297		1,253
Spending	—		(1,938)
Changes in estimates	(2,675)		5,863
Balance, end of period	$	11,773	$	13,151

Current	$	22	$	179
Non-current	$	11,751	$	12,972

During the year ended December 31, 2025, the Company did not have any reclamation spending. During the year ended December 31, 2024, the Company recognized spending of $1.9 million related to the placement of an impervious cover on the Crofoot heap leach pad.

During the years ended December 31, 2025 and 2024, the Company recognized a decrease of $2.7 million and an increase of $5.9 million, respectively, as changes in estimates.

The change in estimate for the year ended December 31, 2025, was primarily due to:

•The change in timing of the anticipated reclamation activities related to solution management.

The change in estimate for the year ended December 31, 2024, was primarily due to:

•Increased labor, equipment, and material costs for reclamation activities based on the updated 2024 Standardized Reclamation Cost Estimator Unit Cost Data issued annually by the Nevada Department of Environmental Protection (“NDEP”).

•A changed scope of work requiring additional volumes of cover material, as well as a revised engineering design mandated by the NDEP for the placement of an impervious cover on the Crofoot heap leach pad.

•Adjustments to the project timeline, with work that commenced in 2024 and is scheduled for completion by the end of 2027.

•Increased costs due to additional equipment, longer haul distances, and other costs exceeding prior estimates.

The Company does not have mineral reserves; accordingly, all related costs are expensed until mineral reserves are established. Any underestimated or unanticipated reclamation costs or any changes in governmental reclamation requirements could require us to record or incur additional reclamation costs.