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Property, Plant and Mine Development, net

6 Months Ended

Jun. 30, 2018

Property, Plant and Mine Development, net

Property, Plant and Mine Development – net

8. Property, Plant and Mine Development, net

At June 30, 2018 and December 31, 2017, property, plant and mine development, net consisted of the following:

		2018			2017
		(in thousands)
Asset retirement costs		$	969		$	1,079
Construction-in-progress (1)			17,844			10,838
Furniture and office equipment			1,711			1,664
Land			242			242
Light vehicles and other mobile equipment			2,244			2,211
Machinery and equipment			23,960			22,916
Mill facilities and infrastructure			10,817			10,075
Mineral interests and mineral rights			17,958			17,658
Mine development			63,760			56,957
Software and licenses			1,659			1,678
Subtotal (2) (3)			141,164			125,318
Accumulated depreciation and amortization			(50,040)			(42,719)
Total		$	91,124		$	82,599

(1) Includes Isabella Pearl asset and development costs of $11.3 million and $7.4 million at June 30, 2018 and December 31, 2017, respectively.

(2) Includes $1.6 million of assets recorded under capital leases at June 30, 2018 and December 31, 2017. Please see Note 12 for additional information.

(3) Includes accrued capital expenditures of $2.0 and $1.0 million at June 30, 2018 and December 31, 2017, respectively.

During three months ended June 30, 2018, the Company commenced development and construction of the mine and processing facilities at its Isabella Pearl property. As result of this decision, the Company began capitalizing development and construction costs associated with Isabella Pearl.

The Company recorded depreciation and amortization expense of $3.7 million and $7.4 million for the three and six months ended June 30, 2018, respectively.  For the three and six months ended June 30, 2017, the Company recorded $4.0 million and $6.7 million, respectively.

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- References

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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