Plant And Equipment

12 Months Ended

Dec. 31, 2018

Plant and Equipment

Plant And Equipment

5. Plant and Equipment

	December 31, 2018						December 31, 2017
			Accumulated						Accumulated
	Cost		depreciation		Net		Cost		depreciation		Net
Mt Todd, Australia	$	5,197	$	5,062	$	135	$	5,646	$	4,591	$	1,055
Corporate, United States		333		333		—		333		333		—
Used mill equipment, Canada		5,500		—		5,500		6,500		—		6,500
	$	11,030	$	5,395	$	5,635	$	12,479	$	4,924	$	7,555

We continue to actively market the used mill equipment, however, we do not classify it as ‘held for sale’ on our Consolidated Balance Sheets as of December 31, 2018 or 2017 as we do not have reasonable assurance that the mill equipment will sell within 12 months.  We are not currently depreciating the used mill equipment as we continue to market it and it is not in use. The Company’s efforts to sell its used mill equipment over the past several years have been unsuccessful.  As of December 31, 2018, there are no prospects for an imminent sale of this equipment, and the market conditions conducive to such a sale are not expected to improve in the near future.  Based on an independent valuation by a qualified third party, and allowing for selling commissions and costs, the Company has recorded a Level 3 impairment charge of $1,000, which has been included in our Consolidated Statements of Income/(Loss) for the year ended December 31, 2018. 

December 31, 2018 cost basis and accumulated depreciation totals have been adjusted for fully depreciated  assets which are no longer in use and have been removed from service. The Company recorded additional depreciation of $695 in 2018 to adjust the net book value of plant and equipment to account for the cumulative effect of immaterial calculation differences in prior years.