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ASSET RETIREMENT OBLIGATIONS | 9 Months Ended
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Sep. 30, 2020
ASSET RETIREMENT OBLIGATIONS |
ASSET RETIREMENT OBLIGATIONS | NOTE 12 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 Timmins properties in Canada and the El Gallo Project in Mexico. A reconciliation of the Company’s asset retirement obligations for the nine months ended September 30, 2020 and for the year ended December 31, 2019 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2020 |  | December 31, 2019
Asset retirement obligation liability, beginning balance | ​ | $ | 32,201 | ​ | $ | 29,402
Settlements | ​ |  | (185) | ​ |  | (513)
Accretion of liability | ​ |  | 1,389 | ​ |  | 1,680
Adjustment reflecting updated estimates | ​ |  | 673 | ​ |  | 1,012
Foreign exchange revaluation | ​ | ​ | (286) | ​ | ​ | 620
Asset retirement obligation liability, ending balance | ​ | $ | 33,792 | ​ | $ | 32,201
Less current portion | ​ | ​ | 2,860 | ​ | ​ | 2,610
Long-term portion | ​ | $ | 30,932 | ​ | $ | 29,591
​ The Company’s reclamation expenses for the periods presented consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, | ​ | Nine months ended September 30,
​ |  | 2020 |  | 2019 | ​ | 2020 | ​ | 2019
Reclamation adjustment reflecting updated estimates | ​ | $ | 411 | ​ | $ | — | ​ | $ | 614 | ​ | $ | 88
Reclamation accretion | ​ | ​ | 475 | ​ | ​ | 495 | ​ | ​ | 1,389 | ​ | ​ | 1,295
Total | ​ | $ | 886 | ​ | $ | 495 | ​ | $ | 2,003 | ​ | ​ | 1,383
​

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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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