Inventory and Ore on Leach Pads

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

INVENTORY AND ORE ON LEACH PADS

INVENTORY AND ORE ON LEACH PADS

Inventory consists of the following:

In thousands	September 30, 2019		December 31, 2018
Inventory:
Concentrate	$	7,221	$	10,772
Precious metals	14,508		20,761
Supplies	35,749		34,746
	57,478		66,279
Ore on leach pads:
Current	75,603		75,122
Non-current	68,975		66,964
	144,578		142,086
Total inventory and ore on leach pads	$	202,056	$	208,365

In the three and nine months ended September 30, 2019, Silvertip recognized inventory write-downs of $14.0 million and $41.3 million, respectively, as a result of lower than expected production levels, grades and recovery rates as well as reduced process plant availability. It is possible that additional write-downs will be required as the Company works to optimize operations at Silvertip.