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MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2024
MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT |
MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT | NOTE 8 MINERAL PROPERTY INTERESTS AND PLANT AND EQUIPMENT ​ The cost and carrying value of mineral property interests and plant and equipment at December 31, 2024 and 2023 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2024 |  | December 31, 2023
Mineral property interests, cost | ​ | $ | 264,495 | ​ | $ | 207,601
Less: accumulated depletion | ​ | ​ | (98,752) | ​ | ​ | (80,004)
Mineral property interests, carrying value | ​ | $ | 165,743 | ​ | $ | 127,597
​ | ​ | ​ | ​ | ​ | ​ | ​
Plant and equipment, cost | ​ | ​ | ​ | ​ | ​ | ​
Land | ​ | $ | 12,884 | ​ | $ | 18,043
Construction in progress | ​ | ​ | 30,151 | ​ | ​ | 6,963
Plant and equipment | ​ | ​ | 73,633 | ​ | ​ | 79,972
Subtotal | ​ | $ | 116,668 | ​ | $ | 104,978
Less: accumulated depreciation | ​ |  | (71,489) | ​ | ​ | (62,625)
Plant and equipment, carrying value | ​ | $ | 45,179 | ​ | $ | 42,353
​ | ​ | ​ | ​ | ​ | ​ | ​
Mineral property interests and plant and equipment, carrying value | ​ | $ | 210,922 | ​ | $ | 169,950
​ Mineral property interest carrying value at December 31, 2024 and 2023 includes the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Name of Property/Complex |  | State/Province |  | Country |  | 2024 |  | 2023
Fox Complex, other than Lexam | ​ | Ontario | ​ | Canada | ​ | $ | 37,015 | ​ | $ | 32,519
Lexam Properties | ​ | Ontario | ​ | Canada | ​ | ​ | 42,320 | ​ | ​ | 41,595
Gold Bar Mine |  | Nevada |  | United States | ​ |  | 20,566 | ​ |  | 11,031
Tonkin Properties |  | Nevada |  | United States | ​ |  | 5,623 | ​ |  | 4,602
Elder Creek Exploration Property - 1.25% NSR |  | Nevada |  | United States | ​ |  | 150 | ​ |  | 150
Lookout Mountain Project | ​ | Nevada | ​ | United States | ​ | ​ | 22,369 | ​ | ​ | —
Los Azules Copper Project - 1.25% NSR |  | San Juan |  | Argentina | ​ | ​ | 28,821 | ​ | ​ | 28,821
Fenix Project Properties |  | Sinaloa |  | Mexico | ​ |  | 8,879 | ​ |  | 8,879
Total mineral property interests | ​ | ​ | ​ | ​ | ​ | $ | 165,743 | ​ | $ | 127,597
​ Gold Bar mineral property interests are depleted based on the units of production method from the production commencement date over the estimated proven and probable reserves. The El Gallo mine and Fox Complex are depleted and depreciated using the straight-line or units of production method over the stated mine life, as the projects do not have proven and probable reserves that conform to S-K 1300. The definition of proven and probable reserves is set forth in S-K 1300. If proven and probable reserves exist at the Company’s properties, the relevant capitalized mineral property interests and asset retirement costs are charged to expense based on the units of production method upon commencement of production. The Company’s Gold Bar Mine and San José properties have proven and/or probable reserves estimated in accordance with S-K 1300. The Company conducts a review of potential triggering events for impairment for all its mineral projects on a quarterly basis or when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. During the years ended December 31, 2024 and 2023, no impairment has been noted for any of the Company’s mineral property interests.

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