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ASSET RETIREMENT OBLIGATIONS | 3 Months Ended
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Mar. 31, 2022
ASSET RETIREMENT OBLIGATIONS |
ASSET RETIREMENT OBLIGATIONS | NOTE 11 ASSET RETIREMENT OBLIGATIONS The Company is responsible for the 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 three months ended March 31, 2022, and for the year ended December 31, 2021, are as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | Three months ended March 31, 2022 |  | Year ended December 31, 2021
Asset retirement obligation liability, beginning balance | $ | 35,452 | ​ | $ | 34,000
Settlements |  | (83) | ​ |  | (2,225)
Accretion of liability |  | 527 | ​ |  | 2,405
Revisions to estimates and discount rate |  | — | ​ |  | 1,257
Foreign exchange revaluation | ​ | 195 | ​ | ​ | 15
Asset retirement obligation liability, ending balance | $ | 36,091 | ​ | $ | 35,452
Less current portion | ​ | 6,532 | ​ | ​ | 5,761
Long-term portion | $ | 29,559 | ​ | $ | 29,691
​ The Company’s reclamation expenses for the periods presented consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​
​ | Three months ended March 31,
​ | 2022 | ​ | 2021
Reclamation adjustment reflecting updated estimates | $ | — | ​ | $ | 425
Reclamation accretion | ​ | 527 | ​ | ​ | 486
Total | $ | 527 | ​ | ​ | 911
​

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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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