Assets Held for Sale and Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2024

Assets Held for Sale and Discontinued Operations

Schedule of disclosure of discontinued operation

	Year Ended
	December 31,
	2024		2023
	(in thousands)
Revenue
Sale of metals	$	1,440	$	12,002
Total revenue		1,440		12,002
Costs and expenses:
Cost of metals sold		(6,382)		(12,358)
Exploration		(657)		(2,258)
El Quevar project expenses		(429)		(544)
Velardeña care and maintenance costs		—		(1,243)
Reclamation expense		(272)		(297)
Asset impairment expense		(561)		—
Other operating income, net		380		2,296
Gain on sale of assets held for sale		3,564		—
Depreciation and amortization		(122)		(528)
Total costs and expenses		(4,479)		(14,932)
Loss from discontinued operations		(3,039)		(2,930)
Other expense:
Litigation settlement		—		(250)
Total other expense		—		(250)
Loss from discontinued operations before income taxes		(3,039)		(3,180)
Income taxes		—		(11)
Loss from discontinued operations, net of taxes	$	(3,039)	$	(3,191)

	December 31,		December 31,
	2024		2023
	(in thousands)
Assets
Inventories, net(1)	$	—	$	830
Total current assets held for sale		—		830
Property, plant and equipment, net(2)		667		5,798
Total assets held for sale	$	667	$	6,628
Liabilities
Deferred revenue(3)		1,820		—
Other current liabilities(4)		150		400
Total current liabilities held for sale		1,970		400
Asset retirement and reclamation liabilities(5)		3,281		4,096
Total liabilities held for sale	$	5,251	$	4,496

(1) Inventories, net at December 31, 2023 consisted of finished goods, in-process, and material and supplies inventories at the Velardeña Properties.

(2) Property, plant and equipment, net at December 31, 2024 consisted of the remaining Velardeña Properties assets. Property, plant and equipment, net at December 31, 2023 consisted of approximately $3.0 million of the Velardeña Properties assets, and approximately $2.3 million related primarily to the Silex Argentina El Quevar mineral properties and approximately $500,000 of other exploration and royalty properties.

(3) Deferred revenue at December 31, 2024 represents cash received for the sale of the Velardeña oxide plant.

(4) Other current liabilities at December 31, 2024 consisted of the current portion of ARO. Other current liabilities at December 31, 2023 consisted of $150,000 of the current portion of ARO and $250,000 in litigation accrual related to the Unifin matter. See Note 16.

(5) Asset retirement and reclamation liabilities at December 31, 2024 and December 31, 2023 relate to the Rodeo and Velardeña Properties.

Schedule of asset retirement obligations

	December 31,		December 31,
	2024		2023
	(in thousands)
Current asset retirement and reclamation liabilities	$	150	$	150
Non-current asset retirement and reclamation liabilities		3,281		4,096
	$	3,431	$	4,246

Schedule of changes in the company's asset retirement and reclamation liabilities

	Year Ended
	December 31,
	2024		2023
	(in thousands)
Balance at January 1,	$	4,246	$	3,993
Changes in estimates, and other		(16)		(44)
Accretion expense		272		297
ARO liabilities sold		(1,071)		—
Balance at December 31,	$	3,431	$	4,246