Accounts Payable and Other Accrued Liabilities

12 Months Ended

Dec. 31, 2024

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:

	December 31,		December 31,
	2024		2023
	(in thousands)
Accounts payable and accruals	$	1,209	$	3,586
Accrued employee compensation and benefits		399		1,281
Income taxes payable (Note 13)		17		32
	$	1,625	$	4,899

December 31, 2024

Accounts payable and accruals at December 31, 2024, are primarily related to amounts due to contractors and suppliers in the amounts of $700,000 related to the Rodeo and Velardeña Properties and $500,000 related to corporate administrative and exploration activities.

Accrued employee compensation and benefits at December 31, 2024, consist of $230,000 of accrued severance related to the Company’s Velardeña Properties, $100,000 of accrued vacation payable and $69,000 related to salaries,

withholding taxes and benefits payable. Included in the $399,000 of accrued employee compensation and benefits is $321,000 related to activities at the Velardeña Properties.

December 31, 2023

Accounts payable and accruals at December 31, 2023, are primarily related to amounts due to contractors and suppliers in the amounts of $2.5 million related to the Rodeo and Velardeña Properties and $1.1 million related to corporate administrative and exploration activities.

Accrued employee compensation and benefits at December 31, 2023, consist of $0.4 million of accrued vacation payable and $0.9 million related to salaries, withholding taxes and benefits payable. Included in the $1.3 million of accrued employee compensation and benefits is $1.1 million related to activities at the Rodeo and Velardeña Properties.

Income taxes payable are related to operations at the Company’s Mexican subsidiaries (see Note 13).