RECLAMATION OBLIGATIONS

3 Months Ended

Mar. 31, 2018

RECLAMATION OBLIGATIONS

RECLAMATION OBLIGATIONS

NOTE 6 RECLAMATION OBLIGATIONS

The Company is responsible for reclamation of certain past and future disturbances at its properties. The most significant properties subject to these obligations are the Tonkin property in Nevada, the El Gallo 1 mine in Mexico, and the Timmins properties in Canada.

A reconciliation of the Company’s asset retirement obligations for the three months ended March 31, 2018 and for the year ended December 31, 2017 are as follows:

	March 31, 2018		December 31, 2017
Asset retirement obligation liability, beginning of the period	$	24,722	$	9,843
Settlements		(19)		(126)
Accretion of liability		294		635
Acquisitions and divestitures		—		11,803
Adjustment reflecting updated estimates		504		2,561
Foreign exchange revaluation		(359)		6
Asset retirement obligation liability, ending balance	$	25,142	$	24,722
Current portion		(743)		(646)
Non-current portion	$	24,399	$	24,076

The Company adjusted its estimated liability in relation to the Gold Bar project for disturbance caused up to March 31, 2018.