ASSET RETIREMENT OBLIGATIONS

6 Months Ended

Jun. 30, 2020

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS

NOTE 12 ASSET RETIREMENT 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 Gold Bar and Tonkin properties in Nevada, the Timmins properties in Canada and the El Gallo Project in Mexico.

A reconciliation of the Company’s asset retirement obligations for the six months ended June 30, 2020 and for the year ended December 31, 2019 are as follows:

	June 30, 2020		December 31, 2019
Asset retirement obligation liability, beginning balance	$	32,201	$	29,402
Settlements		(128)		(513)
Accretion of liability		914		1,680
Adjustment reflecting updated estimates		262		1,012
Foreign exchange revaluation		(511)		620
Asset retirement obligation liability, ending balance	$	32,738	$	32,201
Less current portion		2,383		2,610
Long-term portion	$	30,355	$	29,591

The Company’s reclamation expenses consisted of the following:

	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Reclamation adjustment reflecting updated estimates	$	—	$	24	$	203	$	88
Reclamation accretion		457		403		914		800
Total	$	457	$	427	$	1,117		888