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RECLAMATION AND REMEDIATION LIABILITIES | 12 Months Ended
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Dec. 31, 2021
RECLAMATION AND REMEDIATION LIABILITIES |
RECLAMATION AND REMEDIATION LIABILITIES | NOTE 12 RECLAMATION AND REMEDIATION LIABILITIES 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 years ended December 31, 2021 and 2020 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | December 31, 2021 |  | December 31, 2020 |
Reclamation and remediation liability, beginning balance | $ | 34,000 | ​ | $ | 32,201 | ​
Settlements |  | (2,225) | ​ |  | (267) | ​
Accretion of liability |  | 2,405 | ​ |  | 1,901 | ​
Revisions to estimates and discount rate |  | 1,257 | ​ |  | (54) | ​
Foreign exchange revaluation | ​ | 15 | ​ | ​ | 219 | ​
Reclamation and remediation liability, ending balance | $ | 35,452 | ​ | $ | 34,000 | ​
Less current portion | ​ | 5,761 | ​ | ​ | 3,232 | ​
Long-term portion | $ | 29,691 | ​ | $ | 30,768 | ​
​ The adjustment reflecting updated estimates during the year ended December 31, 2021 primarily relates to a $0.5 million increase in obligations in Nevada, $0.6 million increase in the estimated environmental obligations for the Black Fox, and $0.1 million increase in obligations in Tonkin Springs LLC (2020 – related to $0.1 million increase in obligations in Nevada) Reclamation expense in the Statement of Operations includes adjustments for updates in the reclamation liability for properties that do not have reserves in compliance with S-K 1300. Reclamation accretion for all properties is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year ended December 31,
​ | 2021 | ​ | 2020 | ​ | 2019
Reclamation adjustment reflecting updated estimates | $ | 1,045 | ​ | $ | (113) | ​ | $ | 1,851
Reclamation accretion | ​ | 2,405 | ​ | ​ | 1,901 | ​ | ​ | 1,680
Total | $ | 3,450 | ​ | ​ | 1,788 | ​ | $ | 3,531
​

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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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