Accounts Payable and Other Accrued Liabilities

9 Months Ended

Sep. 30, 2022

Accounts Payable and Other Accrued Liabilities

Accounts Payable and Other Accrued Liabilities

10. Accounts Payable and Other Accrued Liabilities

The Company’s accounts payable and other accrued liabilities consist of the following:

	September 30,		December 31,
	2022		2021
	(in thousands)
Accounts payable and accruals	$	2,733	$	1,079
Accrued employee compensation and benefits		1,562		2,009
Income taxes payable		50		421
	$	4,345	$	3,509

September 30, 2022

Accounts payable and accruals at September 30, 2022 are primarily related to amounts due to contractors and suppliers, denominated in US dollars, in the amounts of $2.2 million related to the Company’s Velardeña Properties and Rodeo operation and $0.5 million related to exploration and corporate administrative activities.

Accrued employee compensation and benefits at September 30, 2022 consist of $0.5 million of accrued vacation payable and $1.1 million related to withholding taxes and benefits payable. Included in the approximately $1.6 million of accrued employee compensation and benefits is $1.3 million related to activities at the Velardeña Properties and Rodeo operation.

December 31, 2021

Accounts payable and accruals at December 31, 2021 are primarily related to amounts due to contractors and suppliers, denominated in US Dollars, in the amounts of $0.7 million related to the Company’s Velardeña and Rodeo properties and $0.2 million related to corporate administrative and exploration activities.

Accrued employee compensation and benefits at December 31, 2021 consist of $0.2 million of accrued vacation payable and $1.8 million related to withholding taxes and benefits payable. Included in the approximately $2.0 million of accrued employee compensation and benefits is $1.3 million related to activities at the Velardeña and Rodeo Properties.

The income taxes payable are related to operations at the Company’s Mexican subsidiaries (see Note 14).