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v3.22.2.2

Reclamation and Remediation | 9 Months Ended
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Sep. 30, 2022
Reclamation and Remediation |
Reclamation and Remediation | 11. Reclamation and Remediation ​ The following table presents the changes in reclamation and remediation obligations for the nine months ended September 30, 2022 and the year ended December 31, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021
​ | ​ | (in thousands)
Reclamation liabilities – balance at beginning of period | ​ | $ | 1,833 | ​ | $ | 1,890
Foreign currency exchange loss (gain) | ​ | ​ | 25 | ​ | ​ | (57)
Reclamation liabilities – balance at end of period | ​ | ​ | 1,858 | ​ | ​ | 1,833
​ | ​ | ​ | ​ | ​ | ​ | ​
Asset retirement obligation – balance at beginning of period | ​ | ​ | 1,279 | ​ | ​ | 1,208
Accretion | ​ | ​ | 77 | ​ | ​ | 109
Foreign currency exchange loss (gain) | ​ | ​ | 18 | ​ | ​ | (38)
Asset retirement obligation – balance at end of period | ​ | ​ | 1,374 | ​ | ​ | 1,279
Total period end balance | ​ | $ | 3,232 | ​ | $ | 3,112
​ The Company’s undiscounted reclamation liabilities of $1.9 million and $1.8 million as of September 30, 2022 and December 31, 2021, respectively, are related to the Don David Gold Mine in Mexico. These represent reclamation liabilities that were expensed through 2013 before proven and probable reserves were established and the Company was considered to be a development stage entity; therefore, most of the costs, including asset retirement costs, were not allowed to be capitalized as part of our Property, Plant & Mine Development. ​ The Company’s asset retirement obligations reflect the additions to the asset for reclamation and remediation costs in Property, Plant & Mine Development, post 2013 development stage status, which are discounted using a credit adjusted risk-free rate of 8%. As of September 30, 2022 and December 31, 2021, the Company’s asset retirement obligation related to the Don David Gold Mine in Mexico was $1.4 million and $1.3 million, respectively.

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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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