Note 5 - Asset Retirement Obligations

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

ASSET RETIREMENT OBLIGATIONS

NOTE 5—ASSET RETIREMENT OBLIGATIONS

We estimate asset retirement obligations (“ARO”) for final reclamation based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Amounts recorded related to asset retirement obligations were as follows:

	December 31,
(In thousands)	2023		2022
Balance at beginning of year	$	28,885	$	22,549
Additional asset retirement obligations acquired/incurred		542		1,440
Expenditures made		—		—
Accretion expense		1,403		1,115
Revisions to estimates		(1,870)		3,781
Balance at end of year	$	28,960	$	28,885