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ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH | 6 Months Ended
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Jun. 30, 2022
Asset Retirement Obligation Disclosure [Abstract] |
Asset Retirement Obligations and Restricted Cash | ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASHThe following table summarizes the Company’s asset retirement obligations:
| June 30, 2022 |  | December 31, 2021
Asset retirement obligation, beginning of period | $ | 13,687 |  |  | $ | 13,038 |
Revision of estimate | (445) |  |  | (235) |
Disposal of non-core obligations | — |  |  | (269) |
Accretion of liabilities | 904 |  |  | 1,284 |
Settlements | — |  |  | (131) |
Asset retirement obligation, end of period | $ | 14,146 |  |  | $ | 13,687 |
Asset retirement obligation: |  |  |
Current | $ | 219 |  |  | $ | 27 |
Non-current | 13,927 |  |  | 13,660 |
Asset retirement obligation, end of period | $ | 14,146 |  |  | $ | 13,687 |
The asset retirement obligations of the Company are subject to legal and regulatory requirements. Estimates of the costs of reclamation are reviewed periodically by the Company and the applicable regulatory authorities. The above provision represents the Company’s best estimate of the present value of future reclamation costs, discounted using credit adjusted risk-free interest rates ranging from 9.50% to 11.67% and inflation rates ranging from 2.00% to 2.41%. The total undiscounted decommissioning liability at June 30, 2022 is $42.91 million (December 31, 2021 - $41.34 million). The Company has cash, cash equivalents and fixed income securities as collateral for various bonds posted in favor of the applicable state regulatory agencies in Arizona, Colorado, New Mexico, Texas, Utah and Wyoming, and the U.S. Bureau of Land Management (“BLM”) and U.S. Forest Service (“USFS”) for estimated reclamation costs associated with the Mill, Nichols Ranch, Alta Mesa and other mining properties. The restricted cash will be released when the Company has reclaimed a mineral property or restructured the surety and collateral arrangements. See Note 13 for a discussion of the Company’s surety bond commitments The following table summarizes the Company’s restricted cash:
| June 30, 2022 |  | December 31, 2021
Restricted cash, beginning of period | $ | 20,305 |  |  | $ | 20,817 |
Additional collateral posted | 21 |  |  | 48 |
Refunds of collateral | — |  |  | (560) |
Restricted cash, end of period | $ | 20,326 |  |  | $ | 20,305 |

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- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2175671 + Details
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