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Segment Reporting | 12 Months Ended
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Dec. 31, 2022
Segment Reporting |
Segment Reporting | 22. Segment Reporting As of December 31, 2022, the Company has organized its operations into three geographic regions. The geographic regions include 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 December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total current assets | ​ | $ | 38,032 | ​ | $ | 272 | ​ | $ | 7,795 | ​ | $ | 46,099
Total non-current assets | ​ | ​ | 63,342 | ​ | ​ | 92,927 | ​ | ​ | 1,803 | ​ | ​ | 158,072
Total assets | ​ | $ | 101,374 | ​ | $ | 93,199 | ​ | $ | 9,598 | ​ | $ | 204,171
Total current liabilities | ​ | $ | 20,035 | ​ | $ | 3,352 | ​ | $ | 1,295 | ​ | $ | 24,682
Total non-current liabilities | ​ | ​ | 5,533 | ​ | ​ | 60,648 | ​ | ​ | 1,544 | ​ | ​ | 67,725
Total shareholders' equity | ​ | ​ | 75,806 | ​ | ​ | 29,199 | ​ | ​ | 6,759 | ​ | ​ | 111,764
Total liabilities and shareholders' equity | ​ | $ | 101,374 | ​ | $ | 93,199 | ​ | $ | 9,598 | ​ | $ | 204,171
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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 year ended December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Sales, net | ​ | $ | 138,724 | ​ | $ | - | ​ | $ | - | ​ | $ | 138,724
Total mine cost of sales, including depreciation | ​ | ​ | 108,863 | ​ | ​ | 75 | ​ | ​ | 38 | ​ | ​ | 108,976
Exploration expense | ​ | ​ | 4,244 | ​ | ​ | 8,805 | ​ | ​ | - | ​ | ​ | 13,049
Total other costs and expenses, including G&A | ​ | ​ | 2,741 | ​ | ​ | 1,415 | ​ | ​ | 10,305 | ​ | ​ | 14,461
Provision for income taxes | ​ | ​ | 8,061 | ​ | ​ | (1,123) | ​ | ​ | 1,621 | ​ | ​ | 8,559
Net income (loss) | ​ | $ | 14,815 | ​ | $ | (9,172) | ​ | $ | (11,964) | ​ | $ | (6,321)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
For the year ended December 31, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Sales, net | ​ | $ | 125,196 | ​ | $ | - | ​ | $ | - | ​ | $ | 125,196
Total mine cost of sales, including depreciation | ​ | ​ | 88,449 | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 88,449
Exploration expense | ​ | ​ | 4,813 | ​ | ​ | 55 | ​ | ​ | 18 | ​ | ​ | 4,886
Total other costs and expenses, including G&A | ​ | ​ | 3,995 | ​ | ​ | 1,167 | ​ | ​ | 9,056 | ​ | ​ | 14,218
Provision for income taxes | ​ | ​ | 8,518 | ​ | ​ | 305 | ​ | ​ | 792 | ​ | ​ | 9,615
Net income (loss) | ​ | $ | 19,421 | ​ | $ | (1,527) | ​ | $ | (9,866) | ​ | $ | 8,028
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
| (1) | Michigan, USA was acquired on December 10, 2021.

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