INVENTORIES |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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INVENTORIES | NOTE 7 INVENTORIES Inventories at December 31, 2022 and 2021 consist of the following:
During the year ended December 31, 2022, inventory at the Fox Complex, El Gallo mine and Gold Bar Mine were written down to their estimated net realizable value by $2.4 million, $4.6 million and $nil respectively. During the year ended December 31, 2021, the inventory at the Fox Complex, El Gallo mine and Gold Bar Mine were written down to their net realizable value by $2.1 million, $3.3 million, and $1.4 million respectively. Of these write-downs, a total of $6.4 million was included in production costs applicable to sales (December 31, 2021 - $6.0 million) and $0.6 million was included in depreciation and depletion (December 31, 2021 - $0.8 million) in the Statement of Operations. |