Asset retirement obligation

9 Months Ended

Sep. 30, 2026

Asset Retirement Obligation Disclosure [Abstract]

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


	September 30, 2026		December 31, 2025
Balance, beginning of period	$	11,773	$	13,151
Accretion	790		1,297

Change in estimates	(6,871)		(2,675)
Balance, end of period	$	5,692	$	11,773

Current	$	4,509	$	22
Non-current	1,183		11,751

During the three and nine months ended September 30, 2026, the Company recognized an Asset retirement obligation (“ARO”) downward adjustment of $1.1 million and $6.9 million, respectively, resulting primarily from a change in estimate related to the extension of the mine life based on the May 2026 Hycroft TRS and updates to reclamation cost estimates and projected cash flows. During the three and nine months ended September 30, 2025, the Company recognized an ARO adjustment of $2.7 million.

As of September 30, 2026, the ARO was measured using a weighted-average inflation rate of 3.41% to escalate estimated ARO costs to their expected settlement dates and a weighted-average credit-adjusted risk-free rate of 10.81% to discount those costs to present value. The Company estimates undiscounted ARO costs of $358.6 million, of which $5.3 million is expected to be incurred in 2027, with substantially all remaining cash outflows expected to be incurred thereafter.

The Company does not have mineral reserves, and all costs related to the initial recognition and subsequent remeasurement of its ARO are recognized in earnings as incurred.