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ASSET RETIREMENT OBLIGATIONS | 9 Months Ended
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Sep. 30, 2023
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 properties subject to these obligations are the Gold Bar and Tonkin properties in Nevada, the Fox Complex properties in Canada and the El Gallo mine in Mexico. A reconciliation of the Company’s asset retirement obligations for the nine months ended September 30, 2023, and for the year ended December 31, 2022, is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | Nine months ended | ​ | ​ | Year ended
​ | ​ | ​ | September 30, 2023 | ​ | ​ | December 31, 2022
Reclamation and remediation liability, beginning balance | ​ | $ | 41,846 | ​ | $ | 35,452
Settlements | ​ | ​ | (1,215) | ​ | ​ | (774)
Accretion of liability | ​ | ​ | 1,874 | ​ | ​ | 2,354
Revisions to estimates and discount rate | ​ | ​ | (300) | ​ | ​ | 5,664
Foreign exchange revaluation | ​ | ​ | 51 | ​ | ​ | (850)
Reclamation and remediation liability, ending balance | ​ | $ | 42,256 | ​ | $ | 41,846
Less: current portion | ​ | ​ | 2,434 | ​ | ​ | 12,576
Long-term portion | ​ | $ | 39,822 | ​ | $ | 29,270
​ Reclamation expense in the Statement of Operations includes adjustments for updates in the reclamation liability for properties that do not have mineral reserves that conform to guidance under S-K 1300. Reclamation accretion for all properties is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, | ​ | Nine months ended September 30,
​ |  | 2023 |  | 2022 | ​ | 2023 | ​ | 2022
Reclamation adjustment reflecting updated estimates | ​ | $ | 136 | ​ | $ | — | ​ | $ | 156 | ​ | $ | 986
Reclamation accretion | ​ | ​ | 624 | ​ | ​ | 526 | ​ | ​ | 1,874 | ​ | ​ | 1,573
Total | ​ | $ | 760 | ​ | $ | 526 | ​ | $ | 2,030 | ​ | $ | 2,559
​

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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://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481850/410-20-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//410-20/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 20 -Topic 410 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481850/410-20-50-2 + Details
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