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Environmental Reclamation Liability
 9 Months Ended
Sep. 30, 2025
Environmental Reclamation Liability  
Environmental Reclamation Liability

5.Environmental Reclamation Liability

On January 15, 2021, the Company agreed to an Administrative Settlement Agreement and Order on Consent (“ASAOC”). The Company has accounted for its obligation under the ASAOC as an environmental reclamation liability. The provision for the liability associated with the terms of the ASAOC is based on cost estimates developed with the use of engineering consultants, independent contractor quotes and the Company’s internal development team. The timing of cash flows is based on the latest schedule for early action items. The estimated environmental reclamation liability may be subject to change based on changes to cost estimates and is adjusted for actual work performed. During the nine months ended September 30, 2025, the Company did not perform any work on early action items (September 30, 2024: $1.9 million). As of September 30, 2025, no further costs were accrued associated with this liability. Movements in the environmental reclamation liability during the nine months ended September 30, 2025 and 2024 are as follows:

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Nine months ended September 30, 

​

    

2025

    

2024

Balance at beginning of period

​

$

—

​

$

764,607

Additions

​

​

—

​

 

1,422,288

Work performed on early action items

​

​

—

​

 

(1,937,538)

Balance at end of period

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$

—

​

$

249,357

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​

​

​

​

​

​

Current portion

​

$

—

​

$

249,357

Non-current portion

​

​

—

​

​

—

Balance at end of period

​

$

—

​

$

249,357

​

In 2021, the Company provided $7.5 million in financial assurance for Phase 1 projects under the ASAOC. The Company paid $3.0 million in cash collateral for a surety bond related to the ASAOC statement of work in early 2021.