ASSET RETIREMENT OBLIGATIONS

9 Months Ended

Sep. 30, 2024

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS

NOTE 11 ASSET RETIREMENT OBLIGATIONS

The Company is responsible for the reclamation of certain past and future disturbances at its properties. As at September 30, 2024, the asset retirement obligation balances at the properties subject to these obligations were $20.9 million at the Gold Bar, Tonkin and Lookout Mountain properties in Nevada, $15.9 million at the Fox Complex and $7.0 million at the El Gallo mine in Mexico  (December 31, 2023 – $20.6 million, $14.4 million and $8.0 million, respectively).

A reconciliation of the Company’s asset retirement obligations for the nine months ended September 30, 2024, and for the year ended December 31, 2023, is as follows:

	Nine months ended		Year ended
	September 30, 2024		December 31, 2023
Reclamation and remediation liabilities, beginning of period	$	43,021	$	41,846
Acquisitions and divestitures		256		—
Settlements		(549)		(1,358)
Accretion of liability		2,103		2,536
Revisions to estimates and discount rate		(688)		(300)
Foreign exchange revaluation		(274)		297
Reclamation and remediation liabilities, end of period	$	43,869	$	43,021
Less: current portion		2,795		3,105
Long-term portion	$	41,074	$	39,916

Reclamation accretion for all properties is as follows:

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Reclamation adjustment reflecting updated estimates	$	—	$	136	$	(687)	$	156
Reclamation accretion		729		624		2,103		1,874
Total	$	729	$	760	$	1,416	$	2,030