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Asset Retirement Obligations | 6 Months Ended
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Jun. 30, 2021
Asset Retirement Obligations |
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 inflation rates ranging from 0.74% to 2.44% and then discounted at 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, 2020 |  |  | 29,965 |
Reclassify liabilities associated with assets held for sale (note 4) |  |  | (875 | )
Accretion expense |  |  | 246 |
June 30, 2021 |  |  | 29,336 |
| The restricted cash discussed in note 6 relates to the surety bonds provided to the governmental agencies for these obligations. A non-core, unpermitted, non-operating property held by Pathfinder is presently considered to be an asset held for sale (see note 4).

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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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