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13. Asset Retirement Obligation
 9 Months Ended
Sep. 30, 2018
Notes  
13. Asset Retirement Obligation

13.          Asset Retirement Obligation

 

The Company has established asset retirement obligations associated with the ultimate closing of its mineral properties where there has been or currently are operations. Activity for the nine months ended September 30, 2018 and 2017 is as follows:

 

 

Nine Months Ended

September 30,

2018

2017

 

 

 

 

 

Balance at beginning of period

$

121,560

$

72,218

Accretion expense

 

9,028

 

6,327

Revision of estimated reclamation costs

 

10,771

 

23,597

Balance at end of period

$

141,359

$

102,142

 

 

During the nine periods ended September 30, 2018 and 2017, the estimated retirement obligation for the Golden Chest mineral property was revised in consideration of additional disturbance activity during the period. The estimated costs were discounted using credit adjusted, risk-free interest rate of 6.0% from the time the obligation was incurred to the time management expects to pay the retirement obligation.