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Segment Reporting | 9 Months Ended
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Sep. 30, 2022
Segment Reporting |
Segment Reporting | 22. Segment Reporting ​ As of September 30, 2022, the Company has organized its operations into three geographic regions: Oaxaca, Mexico, Michigan, U.S.A., and Corporate and Other. Oaxaca, Mexico represents the Company’s only production stage property. Michigan, U.S.A. is an advanced exploration stage property. Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance. The Company’s business activities that are not considered production stage or advanced exploration stage properties are included in Corporate and Other. ​ The following table shows selected information from the Consolidated Balance Sheets relating to the Company’s segments (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Oaxaca, Mexico | ​ | Michigan, USA | ​ | Corporate and Other | ​ | Consolidated
As of September 30, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total current assets | ​ | $ | 41,848 | ​ | $ | 3,911 | ​ | $ | 2,570 | ​ | $ | 48,329
Total non-current assets | ​ | ​ | 59,908 | ​ | ​ | 89,347 | ​ | ​ | 1,954 | ​ | ​ | 151,209
Total assets | ​ | $ | 101,756 | ​ | $ | 93,258 | ​ | $ | 4,524 | ​ | $ | 199,538
Total current liabilities | ​ | ​ | 15,893 | ​ | ​ | 2,636 | ​ | ​ | 937 | ​ | ​ | 19,466
Total non-current liabilities | ​ | ​ | 2 | ​ | ​ | 62,706 | ​ | ​ | 1,720 | ​ | ​ | 64,428
Total shareholders' equity | ​ | ​ | 85,861 | ​ | ​ | 27,916 | ​ | ​ | 1,867 | ​ | ​ | 115,644
Total liabilities and shareholders' equity | ​ | $ | 101,756 | ​ | $ | 93,258 | ​ | $ | 4,524 | ​ | $ | 199,538
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of December 31, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total current assets | ​ | $ | 50,057 | ​ | $ | 5,528 | ​ | $ | 3,330 | ​ | $ | 58,915
Total non-current assets | ​ | ​ | 66,756 | ​ | ​ | 90,018 | ​ | ​ | 73 | ​ | ​ | 156,847
Total assets | ​ | $ | 116,813 | ​ | $ | 95,546 | ​ | $ | 3,403 | ​ | $ | 215,762
Total current liabilities | ​ | ​ | 25,833 | ​ | ​ | 2,459 | ​ | ​ | 1,367 | ​ | ​ | 29,659
Total non-current liabilities | ​ | ​ | 1,436 | ​ | ​ | 63,438 | ​ | ​ | 479 | ​ | ​ | 65,353
Total shareholders' equity | ​ | ​ | 89,544 | ​ | ​ | 29,649 | ​ | ​ | 1,557 | ​ | ​ | 120,750
Total liabilities and shareholders' equity | ​ | $ | 116,813 | ​ | $ | 95,546 | ​ | $ | 3,403 | ​ | $ | 215,762
​ The following table shows selected information from the Consolidated Statements of Operations relating to the Company’s segments (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Oaxaca, Mexico | ​ | Michigan, USA (1) | ​ | Corporate and Other | ​ | Consolidated
For the three months ended September 30, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Sales, net | ​ | $ | 23,869 | ​ | $ | - | ​ | $ | - | ​ | $ | 23,869
Total mine cost of sales, including depreciation | ​ | ​ | 26,016 | ​ | ​ | 21 | ​ | ​ | 10 | ​ | ​ | 26,047
Exploration expense | ​ | ​ | 1,143 | ​ | ​ | 3,830 | ​ | ​ | - | ​ | ​ | 4,973
Total other costs and expenses, including G&A | ​ | ​ | (105) | ​ | ​ | 349 | ​ | ​ | 2,552 | ​ | ​ | 2,796
Provision for income taxes | ​ | ​ | (1,235) | ​ | ​ | - | ​ | ​ | 1,018 | ​ | ​ | (217)
Net loss | ​ | $ | (1,950) | ​ | $ | (4,200) | ​ | $ | (3,580) | ​ | $ | (9,730)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
For the three months ended September 30, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Sales, net | ​ | $ | 29,029 | ​ | $ | - | ​ | $ | - | ​ | $ | 29,029
Total mine cost of sales, including depreciation | ​ | ​ | 20,784 | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 20,784
Exploration expense | ​ | ​ | 1,802 | ​ | ​ | - | ​ | ​ | 3 | ​ | ​ | 1,805
Total other costs and expenses, including G&A | ​ | ​ | 122 | ​ | ​ | - | ​ | ​ | 2,437 | ​ | ​ | 2,559
Provision for income taxes | ​ | ​ | 2,089 | ​ | ​ | - | ​ | ​ | 263 | ​ | ​ | 2,352
Net income (loss) | ​ | $ | 4,232 | ​ | $ | - | ​ | $ | (2,703) | ​ | $ | 1,529
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
| (1) | Michigan, USA was acquired on December 10, 2021, and therefore, there is no information for the three months ended September 30, 2021.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Oaxaca, Mexico | ​ | Michigan, USA (1) | ​ | Corporate and Other | ​ | Consolidated
For the nine months ended September 30, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Sales, net | ​ | $ | 106,350 | ​ | $ | - | ​ | $ | - | ​ | $ | 106,350
Total mine cost of sales, including depreciation | ​ | ​ | 81,105 | ​ | ​ | 54 | ​ | ​ | 27 | ​ | ​ | 81,186
Exploration expense | ​ | ​ | 3,190 | ​ | ​ | 6,925 | ​ | ​ | - | ​ | ​ | 10,115
Total other costs and expenses, including G&A | ​ | ​ | 1,019 | ​ | ​ | 787 | ​ | ​ | 7,366 | ​ | ​ | 9,172
Provision for income taxes | ​ | ​ | 7,634 | ​ | ​ | - | ​ | ​ | 1,281 | ​ | ​ | 8,915
Net income (loss) | ​ | $ | 13,402 | ​ | $ | (7,766) | ​ | $ | (8,674) | ​ | $ | (3,038)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
For the nine months ended September 30, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Sales, net | ​ | $ | 87,133 | ​ | $ | - | ​ | $ | - | ​ | $ | 87,133
Total mine cost of sales, including depreciation | ​ | ​ | 63,433 | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 63,433
Exploration expense | ​ | ​ | 3,642 | ​ | ​ | - | ​ | ​ | 18 | ​ | ​ | 3,660
Total other costs and expenses, including G&A | ​ | ​ | 655 | ​ | ​ | - | ​ | ​ | 7,349 | ​ | ​ | 8,004
Provision for income taxes | ​ | ​ | 6,434 | ​ | ​ | - | ​ | ​ | 263 | ​ | ​ | 6,697
Net income (loss) | ​ | $ | 12,969 | ​ | $ | - | ​ | $ | (7,630) | ​ | $ | 5,339
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
| (1) | Michigan, USA was acquired on December 10, 2021, and therefore, there is no information for the nine months ended September 30, 2021.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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