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Asset Retirement Obligations | 12 Months Ended
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Dec. 31, 2020
Asset Retirement Obligations |
Note - 11 Asset Retirement Obligations |
11. | Asset Retirement Obligations
Asset retirement obligations ("ARO") relate to the Lost Creek mine and Pathfinder projects and are equal to the current estimated reclamation cost escalated at an inflation rate and then discounted at a credit adjusted risk-free rates ranging from 0.33% to 7.25%. Current estimated reclamation costs include costs of closure, reclamation, demolition and stabilization of the well fields, processing plants, infrastructure, aquifer restoration, waste dumps, and ongoing post-closure environmental monitoring and maintenance costs. The schedule of payments required to settle the future reclamation extends through 2033. The present value of the estimated future closure estimate is presented in the following table.
Asset Retirement Obligations |  | Total |
December 31, 2017 |  |  | 27,036 |
Change in estimated reclamation costs |  |  | 2,840 |
Accretion expense |  |  | 508 |
December 31, 2018 |  |  | 30,384 |
Change in estimated reclamation costs |  |  | 11 |
Accretion expense |  |  | 577 |
December 31, 2019 |  |  | 30,972 |
Change in estimated reclamation costs |  |  | (1,583 | )
Accretion expense |  |  | 576 |
December 31, 2020 |  |  | 29,965 |
The restricted cash discussed in note 6 relates to the surety bonds provided to the governmental agencies for these obligations.

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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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