Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Components of income tax expense (benefit)

The components of the Company’s income tax expense (benefit) were as follows (in thousands):

	Years Ended December 31,
	2021		2020
Current
Federal	$	(1,530)	$	—
Deferred
Federal	(14,495)		146,794
Change in Valuation Allowance	14,495		(146,794)
Income Tax Benefit	$	(1,530)	$	—

Schedule of effective income tax rate reconciliation

The following table provides a reconciliation of income taxes computed at the United States federal statutory tax rate of 21% in 2021 and 2020 to the income tax provision (in thousands):

	Years Ended December 31,
	2021			2020
Loss before income taxes	$	(90,094)		$	(136,392)
United States statutory income tax rate	21		%	21%
Income tax (benefit) at United States statutory income tax rate	$	(18,920)		$	(28,642)
Change in valuation allowance	14,495			(146,794)
Recapitalization transaction	—			157,855
Cancellation of debt income	—			15,360
State tax provision, net of federal benefit	—			1,263
Warrant liability fair value adjustment	3,030			790
Other	(135)			168
Income Tax Benefit	$	(1,530)		$	—

Components of deferred tax assets

The components of the Company’s deferred tax assets are as follows (in thousands):

	Years Ended December 31,
	2021		2020
Net operating loss	$	30,355	$	7,675
Mineral properties	39,371		39,555
Plant, equipment, and mine development	25,506		30,767
Intangible assets	20,204		21,710
Royalty	6,266		6,292
Interest expense carryforward	—		1,935
Asset retirement obligation	1,083		997
Stock-based compensation	856		405
Accrued compensation	502		197
Inventories	76		191
Reorganization costs	—		—
Other liabilities	—		—
Credits and other	—		—
Valuation allowance	(124,219)		(109,724)
Total net deferred tax assets	$	—	$	—