Segment Information

12 Months Ended

Dec. 31, 2023

Segment Information

Segment Information

22. Segment Information

The Company’s sole activity is the mining, construction and exploration of mineral properties containing precious metals. The Company’s reportable segments are based on the Company’s revenue-producing activities and cash-consuming activities. The Company reports two segments, one for its revenue-producing activities in Mexico, which includes both the Velardeña Properties and the Rodeo Property, and the other comprised of non-revenue-producing

activities, including exploration, construction and general and administrative activities. 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 financial information relating to the Company’s segments is as follows:

							Exploration, El
							Quevar,
			Costs		Depreciation,		Velardeña and
			Applicable		Depletion and		Administrative		Pre-Tax				Capital
The Year ended December 31, 2023	Revenue		to Sales		Amortization		Expense		Income/(Loss)		Total Assets		Expenditures
							(in thousands)
Mexico Operations	$	12,002	$	(12,358)	$	(517)	$	(3,676)	$	(3,071)	$	8,376	$	—
Corporate, Exploration & Other		—		—		(13)		(6,171)		(6,146)		6,534		—
	$	12,002	$	(12,358)	$	(530)	$	(9,847)	$	(9,217)	$	14,910	$	—
The Year ended December 31, 2022
Mexico Operations	$	23,285	$	(17,538)	$	(319)	$	(8,521)	$	(2,212)	$	8,425	$	44
Corporate, Exploration & Other		—		—		(50)		(7,599)		(7,606)		6,519		8
	$	23,285	$	(17,538)	$	(369)	$	(16,120)	$	(9,818)	$	14,944	$	52

Revenue for the year ended December 31, 2023 and 2022, was from the Company's Rodeo Property in Mexico and the Velardeña Property in Mexico (see Note 17).