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Asset Impairment Review
3 Months Ended
Mar. 31, 2019
Asset Impairment Review [Abstract]  
Asset Realization

(2)ASSET IMPAIRMENT REVIEW



Bulldog Reserves

 

In October 2017, we entered into an agreement to sell land associated with the Bulldog Mine for $4.9 million.  As part of the transaction, we hold the rights to repurchase the property for eight years at the original sale price of $4.9 million plus interest. We are accounting for the sale as a financing transaction with the liability recorded in other long-term liabilities. The Bulldog Mine assets had an aggregate net carrying value of $15 million at March 31, 2019.  Also, in October 2017, the Illinois Department of Natural Resources (ILDNR) notified us that our mine application, along with modifications, was acceptable.  In October 2018, we paid the required fee and bond and the permit was issued in April 2019.  We have determined that no impairment is necessary. If estimates inherent in the assessment change, it may result in future impairment of the assets.