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ASSET RETIREMENT OBLIGATIONS | 9 Months Ended
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Sep. 30, 2019
ASSET RETIREMENT OBLIGATIONS |
ASSET RETIREMENT OBLIGATIONS | NOTE 11 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 El Gallo Project in Mexico, and the Timmins properties in Canada. A reconciliation of the Company’s asset retirement obligations for the nine months ended September 30, 2019 and for the year ended December 31, 2018 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2019 |  | December 31, 2018
Asset retirement obligation liability, beginning balance | ​ | $ | 29,402 | ​ | $ | 24,722
Settlements | ​ |  | (324) | ​ |  | (392)
Accretion of liability | ​ |  | 1,295 | ​ |  | 1,205
Adjustment reflecting updated estimates | ​ |  | (1,053) | ​ |  | 5,024
Foreign exchange revaluation | ​ | ​ | 434 | ​ | ​ | (1,157)
Asset retirement obligation liability, ending balance | ​ | $ | 29,754 | ​ | $ | 29,402
Current portion | ​ | ​ | (1,435) | ​ | ​ | (734)
Long-term portion | ​ | $ | 28,319 | ​ | $ | 28,668
​ The adjustment reflecting updated estimates for the nine months ended September 30, 2019 of $1.1 million reflects a reduction of $5.3 million for the estimated environmental obligations for the Black Fox mine and an increase of $4.2 million for the Gold Bar mine. The reduction in the estimated liability for Black Fox mine reflects the approval obtained from the Ministry of Energy, Northern Development and Mines, of Ontario, Canada for the amended environmental closure plan filed during the period. The increase for the Gold Bar mine liability is the result of additional disturbances during the period (December 31, 2018 - an additional $3.6 million related to disturbances).

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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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- References No definition available. + Details
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