Inventory and Ore on Leach Pads

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

INVENTORY AND ORE ON LEACH PADS

INVENTORY AND ORE ON LEACH PADS

Inventory consists of the following:

In thousands	December 31, 2019		December 31, 2018
Inventory:
Concentrate	6,557		$	10,772
Precious metals	14,040		20,761
Supplies	35,289		34,746
	55,886		66,279
Ore on leach pads:
Current	66,192		75,122
Non-current	71,539		66,964
	137,731		142,086
Total inventory and ore on leach pads	$	193,617	$	208,365

In the year ended December 31, 2019 Silvertip recognized inventory write-downs of $64.6 million, which is recognized in Costs applicable to sales, 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.