Golden Minerals (AUMN) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 04, 2020
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Entity Registrant Name	Golden Minerals Co
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	AUMN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		151,512,652
Entity Central Index Key	0001011509
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 8,658	$ 4,593
Lease receivables	502	448
Inventories, net	199	231
Derivative at fair value	251	254
Value added tax receivable, net	69
Prepaid expenses and other assets	570	669
Total current assets	10,249	6,195
Property, plant and equipment, net	5,343	6,031
Other long term assets	988	1,131
Total assets	16,580	13,357
Current liabilities
Accounts payable and other accrued liabilities	1,304	2,127
Deferred revenue, current	100	472
Other current liabilities	230	1,824
Total current liabilities	1,634	4,423
Asset retirement and reclamation liabilities	3,102	2,839
Other long term liabilities	385	494
Total liabilities	5,121	7,756
Commitments and contingencies
Equity
Common stock, $.01 par value, 200,000,000 shares authorized; 149,012,652 and 106,734,279 shares issued and outstanding respectively	1,490	1,067
Additional paid in capital	533,694	521,314
Accumulated deficit	(523,725)	(516,780)
Shareholders' equity	11,459	5,601
Total liabilities and equity	$ 16,580	$ 13,357

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	149,012,652	106,734,279
Common stock, shares outstanding	149,012,652	106,734,279

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue:
Oxide plant lease	$ 2,146	$ 1,944	$ 4,566	$ 5,852
Total revenue	2,146	1,944	4,566	5,852
Costs and expenses:
Oxide plant lease costs	(582)	(594)	(1,566)	(1,804)
Exploration expense	(1,226)	(935)	(3,681)	(3,119)
El Quevar project expense	(130)	(582)	(623)	(1,584)
Velardeña care and maintenance costs	(206)	(422)	(861)	(1,391)
Administrative expense	(852)	(742)	(2,782)	(2,784)
Stock based compensation	(105)	(72)	(771)	(725)
Reclamation expense	(63)	(57)	(184)	(171)
Other operating (expense) income, net	24	45	(78)	225
Depreciation and amortization	(226)	(270)	(770)	(814)
Total costs and expenses	(3,366)	(3,629)	(11,316)	(12,167)
Loss from operations	(1,220)	(1,685)	(6,750)	(6,315)
Other expense:
Interest and other expense, net	(12)	(42)	(85)	(182)
Loss on foreign currency	(36)	(24)	(92)	(63)
Total other loss	(48)	(66)	(177)	(245)
Loss from operations before income taxes	(1,268)	(1,751)	(6,927)	(6,560)
Income taxes	(18)	(9)	(18)	(9)
Net loss	$ (1,286)	$ (1,760)	$ (6,945)	$ (6,569)
Net loss per common share - basic
Loss (in dollars per share)	$ (0.01)	$ (0.02)	$ (0.06)	$ (0.07)
Weighted average Common Stock outstanding - basic (in shares)	143,285,564	104,764,260	124,956,140	99,263,135

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net cash used in operating activities	$ (7,891)	$ (3,122)
Cash flows from investing activities:
Proceeds from sale of assets	25	144
Proceeds from sale of trading securities		113
Acquisitions of property, plant and equipment	(101)	(28)
Net cash provided by (used in) investing activities	(76)	229
Cash flows provided by (used in) financing activities:
Proceeds from issuance of common stock, net of issuance costs	12,032	2,492
Proceeds from related party loan	1,000
Payment of related party loan (note 13)	(1,000)
Net cash from financing activities	12,032	2,492
Net Increase (decrease) in cash and cash equivalents	4,065	(401)
Cash and cash equivalents, beginning of period	4,593	3,293
Cash and cash equivalents, end of period	$ 8,658	$ 2,892

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Previously ReportedCommon Stock	Previously ReportedAdditional Paid-in Capital	Previously ReportedAccumulated Deficit	Previously Reported	Common StockRegistered direct purchase agreement	Common StockSubscription Agreement	Common StockPrivate Placement	Common StockFirm Commitment Offering	Common Stock	Additional Paid-in CapitalRegistered direct purchase agreement	Additional Paid-in CapitalSubscription Agreement	Additional Paid-in CapitalPrivate Placement	Additional Paid-in CapitalFirm Commitment Offering	Additional Paid-in Capital	Accumulated Deficit	LPC Program [Member]	Registered direct purchase agreement	Subscription Agreement	Private Placement	Firm Commitment Offering	Total
Balance at Dec. 31, 2018	$ 955	$ 517,806	$ (511,125)	$ 7,636
Balance (in shares) at Dec. 31, 2018	95,620,796
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued and shares issued for vested stock awards														$ 337							$ 337
Modification of previously awarded KELTIP Units														583							583
Shares issued under the at-the-market offering agreement, net									$ 1					11							12
Shares issued under the at-the-market offering agreement, net (in shares)									33,995
Shares issued under the Lincoln Park commitment purchase agreement, net									$ (12)					(313)							(325)
Shares issued under the Lincoln Park commitment purchase agreement, net (in shares)									1,213,642
Net loss															$ (2,351)						(2,351)
Balance at Mar. 31, 2019	$ 968	519,050	(513,476)	6,542
Balance (in shares) at Mar. 31, 2019	96,868,433
Balance at Dec. 31, 2018	$ 955	517,806	(511,125)	7,636
Balance (in shares) at Dec. 31, 2018	95,620,796
Increase (Decrease) in Stockholders' Equity
Net loss																					(6,569)
Balance at Sep. 30, 2019	$ 1,067	521,268	(517,696)	4,639					$ 1,067					521,268	(517,963)						4,372
Balance (in shares) at Sep. 30, 2019	106,734,279								106,734,279
Balance at Mar. 31, 2019	$ 968	519,050	(513,476)	6,542
Balance (in shares) at Mar. 31, 2019	96,868,433
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued and shares issued for vested stock awards									$ 3					89							92
Stock compensation accrued and shares issued for vested stock awards (in shares)									312,000
Shares issued under the Lincoln Park commitment purchase agreement, net									$ 9					194							203
Shares issued under the Lincoln Park commitment purchase agreement, net (in shares)									900,000
Net loss															(2,458)						(2,458)
Balance at Jun. 30, 2019	$ 980	519,333	(515,934)	4,379
Balance (in shares) at Jun. 30, 2019	98,080,433
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued														73							73
Stock Issued During Period, Value, New Issues					$ 87					$ 1,860							$ 1,947
Stock Issued During Period, Shares, New Issues					8,653,846
Deemed dividend on warrants														2	(2)
Net loss															(1,760)						(1,760)
Balance at Sep. 30, 2019	$ 1,067	$ 521,268	$ (517,696)	$ 4,639					$ 1,067					521,268	(517,963)						4,372
Balance (in shares) at Sep. 30, 2019	106,734,279								106,734,279
Increase (Decrease) in Stockholders' Equity
Adjustment related to correction of immaterial error (Note 3)															(267)						(267)
Balance at Dec. 31, 2019									$ 1,067					521,314	(516,780)						5,601
Balance (in shares) at Dec. 31, 2019									106,734,279
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued														52							52
Shares issued under the at-the-market offering agreement, net									$ 9					214							223
Shares issued under the at-the-market offering agreement, net (in shares)									823,452
Shares issued under the Lincoln Park commitment purchase agreement, net									$ 9					207							216
Shares issued under the Lincoln Park commitment purchase agreement, net (in shares)									900,000
Net loss															(3,336)						(3,336)
Balance at Mar. 31, 2020									$ 1,085					521,787	(520,116)						2,756
Balance (in shares) at Mar. 31, 2020									108,457,731
Balance at Dec. 31, 2019									$ 1,067					521,314	(516,780)						5,601
Balance (in shares) at Dec. 31, 2019									106,734,279
Increase (Decrease) in Stockholders' Equity
Stock Issued During Period, Shares, New Issues																900,000
Net loss																					(6,945)
Balance at Sep. 30, 2020									$ 1,490					533,694	(523,725)						11,459
Balance (in shares) at Sep. 30, 2020									149,012,652
Balance at Mar. 31, 2020									$ 1,085					521,787	(520,116)						2,756
Balance (in shares) at Mar. 31, 2020									108,457,731
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued														614							614
Stock Issued During Period, Value, New Issues						$ 47	$ 150				$ 882	$ 2,561						$ 929	$ 2,711
Stock Issued During Period, Shares, New Issues						4,719,207	15,000,000
Net loss															(2,323)						(2,323)
Balance at Jun. 30, 2020									$ 1,282					525,844	(522,439)						4,687
Balance (in shares) at Jun. 30, 2020									128,176,938
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued and shares issued for vested stock awards									$ 3					102							105
Stock compensation accrued and shares issued for vested stock awards (in shares)									300,000
Stock Issued During Period, Value, New Issues								$ 205					$ 7,748							$ 7,953
Stock Issued During Period, Shares, New Issues								20,535,714
Net loss															(1,286)						(1,286)
Balance at Sep. 30, 2020									$ 1,490					$ 533,694	$ (523,725)						$ 11,459
Balance (in shares) at Sep. 30, 2020									149,012,652

Basis of Preparation of Financi

Basis of Preparation of Financial Statements and Nature of Operations	9 Months Ended
	Sep. 30, 2020
Basis of Preparation of Financial Statements and Nature of Operations
Basis of Preparation of Financial Statements and Nature of Operations	1. Basis of Preparation of Financial Statements and Nature of Operations Golden Minerals Company (the “Company”), a Delaware corporation, has prepared these unaudited interim condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). The interim condensed consolidated financial statements do not include all disclosures required by GAAP for annual financial statements, but in the opinion of management, include all adjustments necessary for a fair presentation. Certain prior period amounts have been reclassified to conform to current classifications. Interim results are not necessarily indicative of results for a full year; accordingly, these interim financial statements should be read in conjunction with the annual financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and filed with the SEC on February 27, 2020. The Company is a mining company, holding a 100% interest in the Rodeo property, the Velardeña and Chicago precious metals mining properties and associated oxide and sulfide processing plants in the state of Durango, Mexico (the “Velardeña Properties”), a 100% interest in the El Quevar advanced exploration silver property in the province of Salta, Argentina (subject to the terms of the April 9, 2020, earn-in agreement (the “Earn-in Agreement”) pursuant to which Barrick Gold Corporation (“Barrick”) has the option to earn a 70% interest in the El Quevar project (see Notes 11 and 19) , and a diversified portfolio of precious metals and other mineral exploration properties located primarily in or near historical precious metals producing regions of Argentina, Nevada and Mexico. The Rodeo property, Velardeña Properties and the El Quevar advanced exploration property are the Company’s only material properties. The Company remains focused on commencing mining operations at the Rodeo property as well as evaluating and searching for other mining opportunities in North America (including Mexico) with near term prospects of mining, and particularly for properties within reasonable haulage distances of our processing plants at the Velardeña Properties. The Company is also focused on advancing our El Quevar exploration property in Argentina through the Earn-in Agreement with Barrick and on advancing selected properties in our portfolio of approximately 12 properties, located in Mexico, Nevada and Argentina. The Company is also reviewing strategic opportunities, focusing primarily on development or operating properties in North America, including Mexico. During November 2015 the Company suspended mining and sulfide processing activities at its Velardeña Properties in order to conserve the asset until the Company is able to develop mining and processing plans that at then current prices for silver and gold indicate a sustainable positive operating margin (defined as revenues less costs of sales) or the Company is able to locate, acquire and develop alternative mineral sources that could be economically mined and transported to the Velardeña Properties for processing. The Company maintains a core group of employees at the Velardeña Properties, most of whom have been assigned to operate and provide administrative support for the oxide plant, which is leased to a subsidiary of Hecla Mining Company (“Hecla”) (see Note 19). The employees at the Velardeña Properties also include an exploration group and an operations and administrative group to continue to advance the Company’s plans in Mexico, including the start-up of mining operations at the Rodeo property, and to provide oversight for corporate compliance activities as well as maintaining and safeguarding the longer-term value of the Velardeña Properties assets. The Company is considered an exploration stage company under SEC criteria since it has not yet demonstrated the existence of proven or probable mineral reserves, as defined by SEC Industry Guide 7, at any of its properties. Until such time, if ever, that the Company demonstrates the existence of proven or probable reserves pursuant to SEC Industry Guide 7, we expect to remain as an exploration stage company.

Correction of Immaterial Error

Correction of Immaterial Error - Income Taxes	9 Months Ended
	Sep. 30, 2020
Correction of Immaterial Error – Income Taxes
Correction of Immaterial Error – Income Taxes	2. In the third quarter 2019, the Company became aware that it had failed to timely file withholding tax returns and pay taxes that were due at the end of 2017 and 2018 relating to return of capital distributions made to the Company by one of the Company’s wholly-owned subsidiaries (see Note 17). The effect of correcting this error was to reduce beginning retained earnings by $267,000 with $154,000 and $113,000 accruing to 2018 and 2019, respectively. The $267,000 adjustment to retained earnings is reflected in the accompanying Condensed Consolidated Statements of Changes in Equity. The Company evaluated the materiality of the error described above from a qualitative and quantitative perspective. Based on such evaluation, the Company concluded that the correction would not be material to any individual prior period, nor did it have an effect on the trend of financial results, taking into account the requirements of the SEC Staff Accounting Bulletin No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in 2019 Financial Statements (“SAB 108”).

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2020
New Accounting Pronouncements
New Accounting Pronouncements	3. New Accounting Pronouncements During the first quarter 2020 the Company adopted ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 modifies the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in the more timely recognition of losses. As the Company’s principle credit risk is related to its Lease Receivables the adoption of this update did not result in a material impact on the Company’s consolidated financial position or results of operations. During the first quarter 2019 the Company adopted ASU 2016-02, “Leases” (“ASU 2016-02”) and ASU No. 2018-11 “Leases (Topic 842)” (“ASU 2018-11”), which require lessees to recognize a right-of-use asset and a lease liability for all leases with terms greater than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. For a lessor, the accounting applied is largely unchanged from previous guidance. The Company currently leases administrative offices in the U.S. and in several foreign locations under lease agreements that typically exceed one year. The Company has elected the modified retrospective method of adopting ASU 2016-02 (see Note 4).

Change in Accounting Principle

Change in Accounting Principle	9 Months Ended
	Sep. 30, 2020
Change in Accounting Principle
Change in Accounting Principle	4. Change in Accounting Principle Leases Effective January 1, 2019 the Company adopted ASU 2016-02 and ASU 2018-11, which requires lessees to recognize a right-of-use asset and a lease liability for all leases with terms greater than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. For a lessor, the accounting applied is largely unchanged from previous guidance. The Company currently leases administrative offices in the U.S. and in several foreign locations under lease agreements that typically exceed one year. The Company has elected the modified retrospective method of adopting ASU 2016-02 per Topic 842. The Company has elected to apply several practical expedients available under the application of ASU 2016-02 and ASU 2018-11, which allowed the Company to forego reassessing the classification of existing or expiring leases, evaluating whether any existing or expiring contracts contain leases or reassessing previously recorded indirect costs. The Company did not elect the practical expedient permitting the combination of lease and non-lease components of the contract. The adoption of ASU 2016-02 and ASU 2018-11 at January 1, 2019 resulted in only a negligible difference to amounts already recorded by the Company in its Consolidated Balance Sheets as of December 31, 2018, and as a result the Company did not record an adjustment to the beginning balance of retained earnings at January 1, 2019, as required under the modified retrospective method. The Company took possession of new office space and began a new long-term lease for its principal headquarters office with an effective commencement date of June 1, 2019. The new office lease will expire five years and eight full calendar months following the commencement date. There are no options to extend the lease beyond the stated term. The Company recorded a right of use asset of approximately $465,000 and a lease liability of approximately $450,000 in the second quarter of 2019 based on the net present value of the future lease payments discounted at 9.5%, which represents the Company’s incremental borrowing rate for purposes of applying the guidance of Topic 842. As required, the Company will recognize a single lease cost on a straight-line basis. The Company also has long-term office leases in Mexico and Argentina that expired in 2019 and recorded a combined lease liability of approximately $45,000 and combined right of use asset of approximately $45,000 relating to both of those leases at January 1, 2019. In November 2019, the Company renewed its Mexican office lease for four years and recorded a right of use asset and lease liability of approximately $174,000. In December 2019, the Company also renewed its Argentina office lease for two years and recorded a right of use asset and lease liability of approximately $18,000. The Company has included its right of use assets for the office leases described above in “ Other long-term assets ” (Note 11) and its office lease liabilities in “ Other liabilities ”, short term and long term (Note 14), in the Company’s Consolidated Balance Sheets for the periods ended September 30, 2020 and December 31, 2019.

Cash and Cash Equivalents and S

Cash and Cash Equivalents and Short-Term Investments	9 Months Ended
	Sep. 30, 2020
Cash and Cash Equivalents and Short-Term Investments
Cash and Cash Equivalents and Short-Term Investments	5. Cash and Cash Equivalents and Short-term Investments The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Short-term investments include investments with maturities greater than three months, but not exceeding 12 months, or highly liquid investments with maturities greater than 12 months that the Company intends to liquidate during the next 12 months for working capital needs. Credit Risk The Company invests substantially all of its excess cash with high credit-quality financial institutions or in U.S. government or debt securities. Credit risk is the risk that a third party might fail to fulfill its performance obligations under the terms of a financial instrument. For cash and equivalents and investments, credit risk represents the carrying amount on the balance sheet. The Company mitigates credit risk for cash and equivalents and investments by placing its funds and investments with high credit-quality financial institutions, limiting the amount of exposure to each of the financial institutions, monitoring the financial condition of the financial institutions and investing only in government and corporate securities rated “investment grade” or better. The Company invests with financial institutions that maintain a net worth of not less than $1 billion and are members in good standing of the Securities Investor Protection Corporation.

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	9 Months Ended
	Sep. 30, 2020
Prepaid Expenses and Other Assets
Prepaid Expenses and Other Assets	6. Prepaid Expenses and Other Assets Prepaid expenses and other current assets at September 30, 2020 and December 31, 2019 consist of the following: September 30, December 31, 2020 2019 (in thousands) Prepaid insurance $ 198 $ 494 Recoupable deposits and other 372 175 $ 570 $ 669 The September 30, 2020 recoupable deposits and other includes a receivable from Barrick for reimbursement of costs of approximately $0.2 million related to the Earn-in Agreement (see Note 10).

Derivative at Fair Value

Derivative at Fair Value	9 Months Ended
	Sep. 30, 2020
Derivative at Fair Value
Derivative at Fair Value	7 . Derivative at Fair Value On December 3, 2019 the Company entered into an amendment to the plant lease agreement with Hecla, reducing the variable per tonne fee contained in the lease agreement from $22.00 to $11.00. Under certain silver price and delivered ore head grade limits, as fully discussed in Note 19, the variable per tonne fee could be increased back to the previous $22.00 per tonne. Pursuant to ASC Topics 815-Derivatives and Hedging (“ASC 815”) and 842-Leases (“ASC 842”), arrangements with variable lease payments must be evaluated to assess whether they contain embedded derivatives. If embedded derivatives are not “clearly and closely related” to the lease contract, they must be bifurcated and accounted for separately from the host contract. The Company determined that the potential for the Company to receive an additional $11.00 variable per tonne fee if certain conditions relating to the silver price and delivered ore head grades are met does not qualify for the “clearly and closely related” exception, and as a result, the potential additional $11.00 variable per tonne fee constitutes a derivative that must be valued and accounted for apart from the host lease contract. Per the guidance of ASC 842, the Company has determined that the amendment to the lease agreement constituted a modification that must be accounted for as a new lease commencing on December 2, 2019, the date the amendment was agreed upon by both parties and expiring on December 31, 2020. The Company is treating the fair value of the derivative received at the time of the modification to the lease agreement as an upfront lease payment that will be amortized over the remaining life of the lease on a straight line basis (see Note 16 for a discussion of the valuation method used to compute the fair value of the derivative). At September 30, 2020 and December 31, 2019, the Company had recorded a “ Derivative at fair value” asset of approximately $251,000 and $254,000, respectively. At September 30, 2020 and December 31, 2019, the Company had also recorded “ Deferred Revenue” of approximately $45,000 and $180,000, related to the amended lease agreement. At September 30, 2020 the Company recognized a reduction to “Revenue - plant lease” on the Company’s Condensed Consolidated Statements of Operations and a decrease to the derivative of approximately $3,000 related to the change in the fair value of the derivative between December 31, 2019 and September 30, 2020. During the first nine months of 2020, the Company also recognized approximately $135,000 “Revenue - plant lease” on the Company’s Condensed Consolidated Statements of Operations related to the amortization of deferred revenue.

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2020
Inventories, net
Inventories, net	8. Inventories, net Inventories at the Velardeña Properties at September 30, 2020 and December 31, 2019 consist of the following: September 30, December 31, 2020 2019 (in thousands) Material and supplies $ 199 $ 231 $ 199 $ 231 The material and supplies inventory at September 30, 2020 and December 31, 2019 is reduced by a $0.2 million obsolescence allowance.

Value added tax receivable, net

Value added tax receivable, net	9 Months Ended
	Sep. 30, 2020
Value added tax receivable, net
Value added tax receivable, net	9 . Value added tax receivable, net The Company has recorded value added tax (“VAT”) paid in Mexico and related to the Velardeña Properties as a recoverable asset. Mexico law allows for certain VAT payments to be recovered through ongoing applications for refunds. At September 30, 2020, the Company has also recorded approximately $37,000 of VAT receivable as a reduction to VAT payable in Mexico, which appears in “ Accounts payable and other accrued liabilities” on the Condensed Consolidated Balance Sheets. The Company has also paid VAT in Mexico as well as other countries, primarily related to exploration projects, which has been charged to expense as incurred because of the uncertainty of recoverability.

Property, Plant and Equipment,

Property, Plant and Equipment, Net	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment, Net
Property, Plant and Equipment, Net	10. Property, Plant and Equipment, Net The components of property, plant and equipment are as follows: September 30, December 31, 2020 2019 (in thousands) Mineral properties $ 9,353 $ 9,353 Exploration properties 2,418 2,518 Royalty properties 200 200 Buildings 3,755 3,755 Mining equipment and machinery 16,027 16,049 Other furniture and equipment 887 884 Asset retirement cost 948 866 33,588 33,625 Less: Accumulated depreciation and amortization (28,245) (27,594) $ 5,343 $ 6,031 El Quevar Earn-In Agreement On April 9, 2020, the Company and several of its directly and indirectly wholly-owned subsidiaries entered into the Earn In Agreement with Barrick, pursuant to which Barrick has acquired an option (the “Option”) to earn a 70% interest in the Company’s El Quevar project located in the Salta Province of Argentina. Pursuant to the terms of the Earn-In Agreement, in order to earn an undivided 70% interest in the El Quevar project, Barrick must: (A) incur a total of $10 million in work expenditures over a total of eight years ($0.5 million per year in years one and two, $1 million per year in years three, four and five, and $2 million per year in years six, seven and eight); (B) deliver to the Company a National Instrument 43-101 compliant pre-feasibility study pursuant to the parameters set forth in the Earn-In Agreement; and (C) deliver a written notice to exercise the Option to the Company within the term of the Earn-In Agreement. Barrick may withdraw from the Earn-In Agreement at any time after spending a minimum of $1 million in work expenditures and upon providing 30 days’ notice to the Company. The Company will form a new entity (“NewCo”) that will hold the El Quevar properties. Upon satisfaction of the earn-in conditions and exercise of the Option, NewCo will be 70% owned by Barrick and 30% owned by the Company. Funding of NewCo will be based on Barrick’s and the Company’s respective ownership and industry standard dilution mechanisms will apply in the case of funding shortfalls by either shareholder. In connection with the Earn-In Agreement, the Company and Barrick also entered into a Subscription Agreement (the “Subscription Agreement”) dated as of April 9, 2020 pursuant to which Barrick purchased 4,719,207 shares of the Company’s common stock at a purchase price of $0.2119 per share in a private placement transaction (see Note 18). Sale of Santa Maria Property On July 14, 2020, the Company entered into a binding letter of intent (“Letter of Intent”) with Fabled Copper Corp. (“Fabled”) for a potential transaction pursuant to which Fabled would acquire the Company’s option to earn a 100% interest in the Santa Maria mining claims located in Chihuahua, Mexico (the “Option”). The Letter of Intent provides that entry into a definitive agreement regarding the Option is subject to, among other contingencies, (i) a 10 business-day period, which has since expired, during which Fabled conducted its due diligence, (ii) the ability of Fabled to secure financing of not less than CAD$4,000,000, and (iii) acceptance by the TSX Venture Exchange of the proposed transaction. As consideration for the Option, Fabled will (i) pay $500,000 in cash to the Company upon closing and will issue to the Company 1,000,000 shares of Fabled’s common stock; (ii) pay $1,500,000 in cash to the Company on the one-year anniversary date following the closing; (iii) pay $2,000,000 in cash to the Company on the two-year anniversary date following the closing; and (iv) upon exercise of the Option, grant the Company a 1% net smelter return royalty on the Santa Maria and Punto Com concessions. The Letter of Intent contains standard representations, warranties, covenants, and other terms customary in similar transactions. The Company and Fabled agreed to use their commercially reasonable best efforts to enter into the definitive agreement on or before August 12, 2020 and prepare all necessary documentation and apply for and obtain TSX Venture Exchange approval and all other consents, orders or approvals as required or desirable to complete the potential transaction regarding the Option. The time limit for completing the definitive option agreement was subsequently extended to December 15, 2020. None of the consideration described above is payable until the definitive agreement is executed The Company had previously expensed all costs associated with the two properties and will record income from the agreement as cash is received. Property Abandonment During the second quarter 2020, the Company allowed certain concessions related to the Company’s immaterial Abalena exploration project in Mexico to expire. The concessions had a carrying value of $0.1 million and the Company recorded a $0.1 million loss included in Other operating (expense) income, net on the accompanying Condensed Consolidated Statement of Operations. Equipment Related to the Oxide Plant Lease Certain assets of the Company are related to the lease of the Velardeña oxide plant to Hecla (see Note 19). The net book value of the equipment involved in the lease was approximately $0.5 million at both September 30, 2020 and December 31, 2019.

Other Long-Term Assets

Other Long-Term Assets	9 Months Ended
	Sep. 30, 2020
Other Long-Term Assets
Other Long-Term Assets	11. Other Long-Term Assets Other long-term assets at September 30, 2020 and December 31, 2019 consist of the following: September 30, December 31, 2020 2019 (in thousands) Deferred offering costs $ 479 $ 511 Right of use assets 509 620 $ 988 $ 1,131 The deferred offering costs are associated with the LPC Program and the ATM Agreement (see Note 18). The right of use assets are related to certain office leases (see Note 4).

Accounts Payable and Other Accr

Accounts Payable and Other Accrued Liabilities	9 Months Ended
	Sep. 30, 2020
Accounts Payable and Other Accrued Liabilities
Accounts Payable and Other Accrued Liabilities	12. Accounts Payable and Other Accrued Liabilities The Company’s accounts payable and other accrued liabilities consist of the following: September 30, December 31, 2020 2019 (in thousands) Accounts payable and accruals $ 583 $ 710 Accrued employee compensation and benefits 721 724 Value added tax payable — 401 Income taxes payable — 292 $ 1,304 $ 2,127 September 30, 2020 Accounts payable and accruals at September 30, 2020 are primarily related to amounts due to contractors and suppliers in the amounts of $0.2 million related to the Company’s Velardeña Properties and $0.4 million related to exploration and corporate administrative activities. Accrued employee compensation and benefits at September 30, 2020 consist of $0.3 million of accrued vacation payable and $0.4 million related to withholding taxes and benefits payable. Included in the $0.7 million of accrued employee compensation and benefits is $0.5 million related to activities at the Velardeña Properties. December 31, 2019 Accounts payable and accruals at December 31, 2019 are primarily related to amounts due to contractors and suppliers in the amounts of $0.3 million related to the Company’s Velardeña Properties and $0.3 million related to corporate administrative and exploration activities. Accrued employee compensation and benefits at December 31, 2019 consist of $0.2 million of accrued vacation payable and $0.5 million related to withholding taxes and benefits payable. Included in the $0.7 million of accrued employee compensation and benefits is $0.5 million related to activities at the Velardeña Properties. The VAT payable is primarily related to VAT collected on the sale of the Mogotes and Pistachon properties in Mexico in December 2019, with such amount being remitted to the Mexican government in January 2020. The Company has recorded VAT paid in Mexico and related to the Velardeña Properties as a recoverable asset. At December 31, 2019, the Company recorded approximately $73,000 of VAT receivable as a reduction to VAT payable presented in the table above. The VAT was paid during the first quarter 2020. The income taxes payable are related to certain Canadian taxes due on capital distributions the Company received from its Canadian subsidiary (see Note 17). The taxes were paid in February 2020 .

Debt - Related Party

Debt - Related Party	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt - Related Party	13 . Debt – Related Party On March 30, 2020, in response to potential economic and market uncertainties caused by the COVID-19 pandemic, the Company entered into a Short-Term Loan Agreement (the “Loan Agreement”) with Sentient Global Resources Fund IV , L.P., a Cayman Islands exempted limited partnership (“Sentient”), pursuant to which Sentient granted to the Company an unsecured loan in an amount equal to $1,000,000 (the “Sentient Loan”). Sentient is a private equity fund, and together with certain other Sentient equity funds, Sentient is the Company’s largest stockholder, holding in the aggregate approximately 32% of the Company’s outstanding common stock at the date of the Loan Agreement. The Sentient Loan had an interest rate of 10% per annum and was due in full, together with accrued interest and any other amount outstanding under the Loan Agreement, on December 31, 2020. On August 12, 2020 the Company repaid the Sentient Loan in full in the amount of approximately $1,037,159 (including all accrued interest), with no prepayment penalty, and terminated, the Loan Agreement.

Other Liabilities

Other Liabilities	9 Months Ended
	Sep. 30, 2020
Other Liabilities
Other Liabilities	14. Other Liabilities Other Current Liabilities The following table sets forth the Company’s other current liabilities at September 30, 2020 and December 31, 2019: September 30, December 31, 2020 2019 (in thousands) Autlán refundable deposit $ — $ 1,251 Premium financing 108 455 Office lease liability 122 118 $ 230 $ 1,824 The Autlán refundable deposit is the remaining principal plus interest liability related to the deposit received for the proposed sale of the Company’s Velardeña Properties and other mineral concessions to Autlán in 2019. O n September 11, 2019, the Company announced that A utlán exercised its right to terminate the agreement for the purchase of the properties. As a result of termination of the agreement, the Company was required to repay the original $1.5 million deposit amount by making monthly payments of $257,000, commencing on December 9, 2019, until the deposit amount is repaid with interest at approximately 11% per annum. On April 7, 2020, the Company and Autlán agreed to reduce the monthly payments to $81,000 and the interest rate applicable to the unpaid repayment amount was increased from 11% per annum to 12% per annum, effective on April 9, 2020, with the remaining balance due in full by December 2020. At September 30, 2020 the Company had repaid Autlán the full $1.5 million deposit, plus approximately $66,000 of interest and no amounts remained due. The Company recorded approximately $55,000 of interest expense for the nine months ended September 30, 2020 related to the Autlán refundable deposit. The premium financing consists of the remaining balance, plus accrued interest, related to premiums payable for the Company’s directors and officers insurance and general liability insurance. In June 2019, the Company financed $151,000 of its premium for general liability insurance. The premium was payable in twelve equal payments at an interest rate of 5.74% per annum. At September 30, 2020, there was no remaining balance. In December 2019 the Company financed $482,000 of its premium for directors and officers insurance. The premium is payable in twelve equal payments at an interest rate of 5.74% per annum. At September 30, 2020 the remaining balance, plus accrued interest, was approximately $108,000. The office lease liability is related to lease liabilities for office space at the Company’s principal headquarters in Golden, Colorado and in Mexico and Argentina (see Note 4). Other Long-Term Liabilities Other long-term liabilities of $0.4 million and $0.5 million for the periods ended September 30, 2020 and December 31, 2019, respectively, are primarily related to a lease liability for office space at the Company’s principal headquarters in Golden (see Note 4).

Asset Retirement and Reclamatio

Asset Retirement and Reclamation Liabilities	9 Months Ended
	Sep. 30, 2020
Asset Retirement and Reclamation Liabilities
Asset Retirement and Reclamation Liabilities	15. Asset Retirement Obligation and Reclamation Liabilities The Company retained the services of a mining engineering firm to prepare a detailed closure plan for the Velardeña Properties. The plan was completed during the second quarter 2012 and indicated that the Company had an ARO and offsetting ARC of approximately $1.9 million at that time. The Company will continue to accrue additional estimated ARO amounts based on an asset retirement plan as activities requiring future reclamation and remediation occur. During the first nine months of 2020, the Company recognized approximately $184,000 of accretion expense. The following table summarizes activity in the Velardeña Properties ARO: Nine Months Ended September 30, 2020 2019 (in thousands) Beginning balance $ 2,825 $ 2,660 Changes in estimates, and other 82 (60) Accretion expense 184 167 Ending balance $ 3,091 $ 2,767 The change in estimates of the ARO recorded during 2020 and 2019 are primarily the result of changes in assumptions related to inflation factors used in the determination of future cash flows. The ARO set forth on the accompanying Condensed Consolidated Balance Sheets at September 30, 2020 and December 31, 2019 includes a nominal amount of reclamation liability related to activities at the El Quevar project in Argentina.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Measurements
Fair Value Measurements	16. Fair Value Measurements Financial assets and liabilities and nonfinancial assets and liabilities are measured at fair value under a framework of a fair value hierarchy which prioritizes the inputs into valuation techniques used to measure fair value into three broad levels. This hierarchy gives the highest priority to quoted prices (unadjusted) in active markets and the lowest priority to unobservable inputs. Further, financial assets and liabilities should be classified by level in their entirety based upon the lowest level of input that was significant to the fair value measurement. The three levels of the fair value hierarchy per ASC 820 are as follows: Level 1 : Unadjusted quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date. Level 2 : Quoted prices in inactive markets for identical assets or liabilities, quoted prices for similar assets or liabilities in active markets, or other observable inputs either directly related to the asset or liability or derived principally from corroborated observable market data. Level 3 : Unobservable inputs due to the fact that there is little or no market activity. This entails using assumptions in models which estimate what market participants would use in pricing the asset or liability. The following table summarizes the Company’s financial assets and liabilities at fair value on a recurring basis at September 30, 2020 and December 31, 2019, by respective level of the fair value hierarchy: Level 1 Level 2 Level 3 Total (in thousands) At September 30, 2020 Assets: Cash and cash equivalents $ 8,658 $ — $ — $ 8,658 Derivative at fair value — — 251 251 $ 8,658 $ — $ 251 $ 8,909 At December 31, 2019 Assets: Cash and cash equivalents $ 4,593 $ — $ — $ 4,593 Derivative at fair value — — 254 254 $ 4,593 $ — $ 254 $ 4,847 The Company’s cash equivalents, comprised principally of U.S. treasury securities, are classified within Level 1 of the fair value hierarchy. The “Derivative at Fair Value” asset on the Consolidated Balance Sheets is related to the amendment to the Hecla plant lease agreement (see Note 19). The Company has determined that the portion of the variable lease payment that is based on the average price of silver and the average grade of material processed during a given month represents an embedded derivative (see Note 7). The Company assesses the fair value of the derivative at the end of each reporting period, with changes in the value recorded as an increase or decrease to “ Oxide Plant Revenue” on the Company’s Consolidated Statements of Operations. The derivative asset was recorded at fair value as of December 2, 2019, the effective date of the lease amendment, and at December 31, 2019, based primarily on a valuation performed by a third-party expert using a Monte Carlo simulation and an option pricing model to calculate the potential discounted cash flow from the derivative based on the probability that the price of silver will have an average price for any given month during 2020 that equals or exceeds $20.00 per ounce or a grade processed equal to or exceeding 1,000 grams per tonne combined with a risk adjusted estimate of material to be processed. The Company performed its own valuation of the derivative asset at September 30, 2020 based on an assumed average 95 percent probability that the silver price would remain above $20.00 per ounce for the remainder of the lease term. The valuations fall within Level 3 of the fair value hierarchy. The valuation policies are approved by the Chief Financial Officer who reviews and approves the inputs used in the fair value calculations and the changes in fair value measurements from period to period for reasonableness. Fair value measurements are discussed with the Company’s Chief Executive Officer, as deemed appropriate. The valuation model primarily takes into consideration the potential discounted cash flow from the derivative based on the probability that the price of silver will have an average price for any given month during 2020 that equals or exceeds $20.00 per ounce or a grade processed equal to or exceeding 1,000 grams per tonne combined with a risk adjusted estimate of material to be processed. At September 30, 2020 and December 31, 2019, the Company did not have any financial assets or liabilities classified within Level 2 of the fair value hierarchy. Non-recurring Fair Value Measurements There were no non-recurring fair value measurements at September 30, 2020 or December 31, 2019.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Taxes
Income Taxes	17. Income Taxes The Company accounts for income taxes in accordance with the provisions of ASC 740, “Income Taxes” (“ASC 740”), on a tax jurisdictional basis. For the nine months ended September 30, 2020 the Company recognized $18,000 of income tax expense. For the nine months ended September 30, 2019 the Company recognized income tax expense of $9,000. The Company operates in jurisdictions that have generated ordinary losses on a year-to-date basis. However, the Company is unable to recognize a benefit for those losses, except as described in this paragraph, thus an estimated effective tax rate has not been used to report the year-to-date results. In accordance with ASC 740, the Company presents deferred tax assets net of its deferred tax liabilities on a tax jurisdictional basis on its Condensed Consolidated Balance Sheets. As of September 30, 2020 and as of December 31, 2019, the Company had no net deferred tax assets or net deferred tax liabilities reported on its balance sheet. In the third quarter 2019, the Company became aware that it had failed to timely file withholding tax returns and pay taxes that were due relating to return of capital distributions made to the Company by ECU Silver Mining Inc. (the Company’s wholly-owned Canadian subsidiary) at the end of 2017 and 2018. The capital distributions constituted dividends under Canadian tax law, subject to a 5% withholding tax. The Canadian withholding taxes, which constituted taxes on income for the months of December 2017 and December 2018, totaled approximately $284,000, including an estimate of interest due of approximately $20,000 on the late filing. The Company has treated the income tax expense related to this liability as the correction of an accounting error and has adjusted the beginning balance of retained earnings (Note 2) . In February 2020 the Company applied to enter into the Canadian Revenue Agency’s Voluntary Disclosure Program, whereby the Company paid the taxes and the estimated interest due and requested abatement of any penalties or additional interest that may apply. If the Canada Revenue Agency denies the Company’s request for abatement, additional interest and penalties could be assessed. The Company, a Delaware corporation, and its subsidiaries file tax returns in the United States and in various foreign jurisdictions. The tax rules and regulations in these countries are highly complex and subject to interpretation. The Company’s income tax returns are subject to examination by the relevant taxing authorities and in connection with such examinations, disputes can arise with the taxing authorities over the interpretation or application of certain tax rules within the country involved. In accordance with ASC 740, the Company identifies and evaluates uncertain tax positions, and recognizes the impact of uncertain tax positions for which there is less than a more-likely-than-not probability of the position being upheld upon review by the relevant taxing authority. Such positions are deemed to be “unrecognized tax benefits” which require additional disclosure and recognition of a liability within the financial statements. The Company had no unrecognized tax benefits at September 30, 2020 or December 31, 2019.

Equity

Equity	9 Months Ended
	Sep. 30, 2020
Equity
Equity	18. Equity Public offering On July 21, 2020, the Company entered into an Amended and Restated Underwriting Agreement (the “Underwriting Agreement”) with H.C. Wainwright & Co., LLC as representative of the underwriters named in Schedule I thereto (the “Underwriters”), providing for the issuance and sale by the Company in a firm commitment offering (the “Offering”) of 17,857,143 shares of common stock at a price to the public of $0.42 per share (the “Offering Shares”). In addition, the Company granted the Underwriters an option to purchase, at the public offering price per share of common stock, up to an additional 2,678,571 shares of common stock, exercisable for 30 days from the date of the Underwriting Agreement (the “Option Shares”). The Offering Shares and Option Shares were registered pursuant to the Company’s registration statement on Form S-3 (File No. 333-220461), and a prospectus supplement thereto filed with the Securities and Exchange Commission. On July 24, 2020, the Underwriters acquired the Offering Shares and the full amount of the Option Shares from the Company. After the underwriting discount of 6% and total offering expenses of approximately $155,000 the company received net proceeds of approximately $8.0 million from the sale of the Offering Shares and the Option Shares. Subscription agreement In connection with the Earn-In Agreement (see Note 11), the Company and Barrick entered into the Subscription Agreement dated as of April 9, 2020 pursuant to which Barrick purchased 4,719,207 shares of the Company’s common stock at a purchase price of $0.2119 per share in a private placement transaction. The Shares were offered and sold without registration under the Securities Act of 1933, as amended (the “Act”) in reliance on the exemptions provided by Section 4(a)(2) of the Act and/or Regulation D promulgated thereunder. The net proceeds of the Subscription Agreement of approximately $0.9 million were recorded in equity and appear as a separate line item in the Condensed Consolidated Statements of Changes in Equity. Offering and private placement On April 20, 2020, the Company entered into a securities purchase agreement with certain institutional investors providing for the issuance and sale of 15,000,000 shares of the Company’s common stock at a price of $0.20 per share, and in a concurrent private placement transaction, the issuance of an aggregate of 11,250,000 warrants, ultimately consisting of 7,500,000 series A warrants and 3,750,000 series B warrants (collectively, the “Warrants”), to purchase up to 11,250,000 shares of our common stock at an exercise price of $0.30 per share, for aggregate gross proceeds of $3.0 million (the “Offering”). Each Warrant is exercisable six months from the date of issuance on April 22, 2020 and has a term expiring five years after such initial exercise date. The Warrants contain so-called full-ratchet anti-dilution provisions which may be triggered upon any future issuance by the Company of shares of its common stock or common stock equivalents at a per share price below the then-exercise price of the Warrant, subject to certain exceptions; provided, however, that with respect to the Series B warrants, the adjusted exercise price will not be less than $0.26. The net proceeds of the Offering were recorded in equity and appear as a separate line item in the Condensed Consolidated Statements of Changes in Equity. Total costs for the Offering were approximately $334,000, including listing fees, legal and other costs, and the placement agent fee of six percent of aggregate gross proceeds, however, a reduced fee was accepted with respect to one investor. All such costs were recorded as a reduction to “ Additional paid in capital” on the Condensed Consolidated Balance Sheets. Using the Black Scholes model, and assuming no triggering events take place to reduce the exercise price of the warrants, the fair value of the combined Series A and Series B warrants issued was approximately $1.9 million on April 22, 2020, the date of issuance of the warrants. The Black Scholes inputs included the closing stock price on April 22, 2020 (the date of issuance of the warrants) of $0.24, the exercise price and exercise period of the warrants, the Company’s applicable volatility rate for the period of the Warrants of 95%, and the applicable risk-free rate of 0.41%. Registered direct offering On July 17, 2019, the Company entered into an agreement with certain institutional investors providing for the issuance and sale of 8,653,846 shares of the Company’s common stock at a price of $0.26 per share, and in a concurrent private placement transaction, the issuance of 8,653,846 Series A warrants to purchase up to 8,653,846 shares of the Company’s common stock at an exercise price of $0.35 per share, for aggregate gross proceeds of $2.25 million (the “Offering”). Each Series A warrant became exercisable on January 17, 2020 and will expire on January 17, 2025, five years from the initial exercise date. Each of the investors in the Offering held warrants that were issued by the Company in May 2016 and were exercisable until November 2021 at an exercise price of $0.75 per share. In connection with the Offering, the Company also agreed to exchange, on a one-for-one basis, the May 2016 warrants for Series B warrants to purchase 4,500,000 shares of common stock at an exercise price of $0.35 per share . Each Series B warrant became exercisable on January 17, 2020 and will expire on May 20, 2022 but are otherwise subject to the same terms and conditions as the Series A warrants. The net proceeds of the Offering were recorded in equity and appear as a separate line item in the Condensed Consolidated Statements of Changes in Equity. Total costs for the Offering were approximately $0.3 million, including the placement agent fee of six percent of aggregate gross proceeds, listing fees and legal and other costs. Such costs were recorded as a reduction to “ Additional paid in capital” on the Condensed Consolidated Balance Sheets. Using the Black Scholes model, the fair value of the Series A warrants issued was approximately $2.1 million and the incremental fair value of the Series B warrants, when compared to the warrants that they replaced, was approximately $0.3 million. The Black Scholes inputs for the Series A warrants included the closing stock price on July 16, 2019 (the day preceding the date the Company entered into the agreement to issue the shares) of $0.33, the exercise price and exercise period of the warrants, the Company’s applicable volatility rate for the period of the Series A warrants of 95%, and the applicable risk-free rate of 1.9%. The Black Scholes inputs for the Series B warrants included the closing stock price on July 16, 2019 of $0.33, the exercise price and exercise period of the warrants, the Company’s applicable volatility rate for the period of the Series B warrants of 88%, and the applicable risk-free rate of 1.9%. Commitment purchase agreement On May 9, 2018, the Company entered into a commitment purchase agreement (the “Commitment Purchase Agreement”) with LPC, pursuant to which the Company, at its sole discretion, has the right to sell up to $10.0 million of the Company’s common stock to LPC, subject to certain limitations and conditions contained in the Commitment Purchase Agreement (the “LPC Program”). The Company closed on the Commitment Purchase Agreement in July 2018, which is currently set to expire in May 2021. Subject to the terms of the Commitment Purchase Agreement, the Company will control the timing and amount of any future sale of the Company’s common stock to LPC. LPC has no right to require any sales by the Company under the Commitment Purchase Agreement but is obligated to make purchases at the Company’s sole direction, as governed by such agreement. There are no upper limits to the price LPC may be obligated to pay to purchase common stock from the Company and the purchase price of the shares will be based on the prevailing market prices of the Company’s shares at the time of each sale to LPC. LPC has agreed not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of the Company’s shares of common stock. The Company has the right to terminate the Commitment Purchase Agreement at any time, at its discretion, without any cost or penalty. During the nine months ended September 30, 2020 the Company sold 900,000 shares of common stock to LPC under the Commitment Purchase Agreement at an average sales price per share of approximately $0.27, resulting in net proceeds of approximately $216,000. In addition, approximately $24,000 of Commitment Purchase Agreement costs were amortized, resulting in a remaining balance of $353,000 of deferred LPC Program costs, recorded in “ Other long-term assets ” on the Condensed Consolidated Balance Sheets as of September 30, 2020. During the nine months ended September 30, 2019 the Company sold 2,113,642 shares of common stock to LPC under the Commitment Purchase Agreement at an average sales price per share of approximately $0.28, resulting in net proceeds of approximately $590,000. In addition, approximately $58,000 of Commitment Purchase Agreement costs were amortized. There are currently12.2 million shares remaining available for issuance under the LPC Program. At the Market Offering Agreement In December 2016, the Company entered into an at-the-market offering agreement (as amended from time to time, the “ATM Agreement”) with H. C. Wainwright & Co., LLC (“Wainwright”), under which the Company may, from time to time, issue and sell shares of the Company’s common stock through Wainwright as sales manager in an at-the-market offering under a prospectus supplement for aggregate sales proceeds of up to $5.0 million (the “ATM Program”) or a maximum of 10 million shares. On November 23, 2018 the Company entered into a second amendment of t he ATM Agreement extending the agreement until the earlier of December 20, 2020, or the date that the ATM Agreement is terminated in accordance with the terms therein. The common stock will be distributed at the market prices prevailing at the time of sale. As a result, prices of the common stock sold under the ATM Program may vary as between purchasers and during the period of distribution. The ATM Agreement provides that Wainwright will be entitled to compensation for its services at a commission rate of 2.0% of the gross sales price per share of common stock sold. During the first nine months of 2020, the Company sold an aggregate of 823,452 shares of common stock under the ATM Agreement at an average price of $0.28 per share of common stock for net proceeds of approximately $223,000. In addition, approximately $8,000 of deferred ATM Program costs were amortized, resulting in a remaining balance of $129,000 of deferred ATM Program costs, recorded in “Prepaid expenses and other assets” on the Condensed Consolidated Balance Sheets as of September 30, 2020. During the first nine months of 2019, the Company sold an aggregate of 33,995 shares of common stock under the ATM Agreement at an average price of $0.34 per share of common stock for total proceeds of approximately $11,000. There are currently 8.1 million shares remaining available for issuance under the ATM Program. Equity Incentive Plans Under the Company’s Amended and Restated 2009 Equity Incentive Plan (the “Equity Plan”) awards of the Company’s common stock may be made to officers, directors, employees, consultants and agents of the Company and its subsidiaries. The Company recognizes stock-based compensation costs using a graded vesting attribution method whereby costs are recognized over the requisite service period for each separately vesting portion of the award. The following table summarizes the status of the Company’s restricted stock grants issued under the Equity Plan at September 30, 2020 and the changes during the nine months then ended: Weighted Average Grant Date Fair Number of Value Per Restricted Stock Grants Shares Share Outstanding at December 31, 2019 318,003 $ 0.45 Granted during the period 300,000 0.42 Restrictions lifted during the period (297,333) 0.35 Forfeited during the period — — Outstanding September 30, 2020 320,670 $ 0.37 For the nine months ended September 30, 2020 the Company recognized approximately $90,000 of compensation expense related to the restricted stock grants. The Company expects to recognize additional compensation expense related to these awards of approximately $98,000 over the next 22 months. The grants made during the period were to 7 current employees, with one third of the grants vesting immediately on the grant date and one third vesting on each of the first and second anniversaries of the grant date. The restrictions lifted during the period include the 100,000 shares of current period grants that vested on the grant date. The remaining restrictions lifted during the period are related to grants made to the same 7 employees in prior years. The following table summarizes the status of the Company’s stock option grants issued under the Equity Plan at September 30, 2020 and the changes during the nine months then ended: Weighted Average Exercise Number of Price Per Equity Plan Options Shares Share Outstanding at December 31, 2019 30,310 $ 8.06 Granted during the period — — Forfeited or expired during period (30,310) $ 8.06 Exercised during period — — Outstanding September 30, 2020 — $ — Exercisable at end of period — $ — Granted and vested — $ — As of September 30, 2020, all of the prior stock options granted had expired. Also, pursuant to the Equity Plan, the Company’s Board of Directors adopted the Non-Employee Director’s Deferred Compensation and Equity Award Plan (the “Deferred Compensation Plan”). Pursuant to the Deferred Compensation Plan the non-employee directors receive a portion of their compensation in the form of Restricted Stock Units (“RSUs”) issued The following table summarizes the status of the RSU grants issued under the Deferred Compensation Plan at September 30, 2020 and the changes during the nine months then ended: Weighted Average Grant Date Fair Number of Value Per Restricted Stock Units Shares Share Outstanding at December 31, 2019 2,830,038 $ 0.78 Granted during the period 780,000 0.40 Restrictions lifted during the period — — Forfeited during the period — — Outstanding September 30, 2020 3,610,038 $ 0.70 For the nine months ended September 30, 2020 the Company recognized approximately $233,000 of compensation expense related to the RSU grants. The Company expects to recognize additional compensation expense related to the RSU grants of approximately $135,000 over the next 9 months. Included in the RSUs granted during the period were 300,000 RSUs awarded to the directors in lieu of the annual cash retainer. Such RSUs vested upon grant and the Company recorded $120,000 of compensation expense related to the grant. Key Employee Long-Term Incentive Plan The Company’s 2013 Key Employee Long-Term Incentive Plan (the “KELTIP”) provides for the grant of units (“KELTIP Units”) to certain officers and key employees of the Company, which units will, once vested, entitle such officers and employees to receive an amount, in cash or in Company common stock (such method of settlement at the sole discretion of the Board of Directors) issued pursuant to the Company’s Equity Plan, measured generally by the price of the Company’s common stock on the settlement date. KELTIP Units are not an actual equity interest in the Company and are solely unfunded and unsecured obligations of the Company that are not transferable and do not provide the holder with any stockholder rights. Payment of the settlement amount of vested KELTIP Units is deferred generally until the earlier of a change of control of the Company or the date the grantee ceases to serve as an officer or employee of the Company. On February 26, 2019, the Company awarded a total of 705,000 KELTIP Units to two officers of the Company. Due to the Company’s desire to preserve its limited current cash reserves for funding expenditures related to its portfolio of exploration projects, the Company determined it no longer had the current intent to settle any of its outstanding KELTIP Units in cash. The Company now intends to settle all of the KELTIP Units, including those previously issued, in common stock of the Company, an option that the Board of Directors holds in its sole discretion so long as sufficient shares remain available under the Equity Plan. As a result, the Company recorded $254,000 of compensation expense, included in “ Stock based compensation ” in the Condensed Consolidated Statement of Operations for the KELTIP Units awarded on February 26, 2019 with a similar amount recorded as “Additional Paid-in Capital” in the Condensed Consolidated Statements of Changes in Equity. The Company has treated the previously awarded KELTIP Units as effectively modified at February 26, 2019. The Company marked-to-market the prior KELTIP Units as of that date and recorded approximately $227,000 of additional compensation expense, included in “ Stock based compensation ” in the Condensed Consolidated Statement of Operations and recorded approximately $583,000 as “Additional Paid-in Capital” in the Condensed Consolidated Statements of Changes in Equity, an amount representing the sum of the compensation expense recorded on February 26, 2019 and the liability for the KELTIP Units recorded at December 31, 2018. All KELTIP Units were recorded in equity at September 30, 2019. On May 21, 2020, the Company awarded a total of 1,400,000 KELTIP Units to two officers of the Company and recognized compensation expense of approximately $448,000. There were 3,725,000 and 2,325,000 KELTIP Units outstanding at September 30, 2020 and December 31,2019, respectively. Common stock warrants The following table summarizes the status of the Company’s common stock warrants at September 30, 2020 and the changes during the nine months then ended: Weighted Number of Average Exercise Underlying Price Per Common Stock Warrants Shares Share Outstanding at December 31, 2019 14,653,846 $ 0.39 Granted during the period — — Series A warrants 7,500,000 0.30 Series B warrants 3,750,000 0.30 Dilution adjustment — — Expired during period — — Exercised during period — — Outstanding September 30, 2020 25,903,846 $ 0.35 The warrants relate to prior and current registered offerings and private placements of the Company’s stock. As discussed above under “Equity – Offering and private placement”, on April 20, 2020, the Company entered into a securities purchase agreement with certain institutional investors providing for the issuance and sale of 15,000,000 shares of the Company’s common stock and in a concurrent private placement transaction, the issuance of an aggregate of 11,250,000 warrants, ultimately consisting of 7,500,000 series A warrants and 3,750,000 series B warrants. Also as discussed above under “Equity – Registered direct offering”, on July 17, 2019, the Company issued 8,653,846 registered shares of common stock in a registered direct offering. In connection with the offering, each investor received an unregistered Series A warrant to purchase a share of common stock for each share of common stock purchased. Each Series A warrant is exercisable six months from the date of issuance and has a term expiring in January 2025. In May 2016, the Company issued 8.0 million registered shares of common stock at a purchase price of $0.50 per share in a registered direct offering resulting in gross proceeds of $4.0 million. In connection with the offering, each investor received an unregistered warrant to purchase three-quarters of a share of common stock for each share of common stock purchased. The resulting 6,000,000 warrant shares have an exercise price of $0.75 per share, became exercisable on November 7, 2016 and were exercisable until November 6, 2021, five years from the initial exercise date. In connection with the July 2019 registered direct offering discussed above, the Company agreed to exchange, on a one-for-one basis, 4,500,000 of the May 2016 warrants for Series B warrants to purchase 4,500,000 shares of common stock at an exercise price of $0.35 per share . Each Series B warrant is exercisable six months from the date of issuance and has a term expiring in May 2022. All outstanding warrants are recorded in equity at September 30, 2020 and December 31, 2019.

Revenue, Deferred Revenue and R

Revenue, Deferred Revenue and Related Costs Oxide Plant Lease and Oxide Plant Lease Costs	9 Months Ended
	Sep. 30, 2020
Revenue, Deferred Revenue and Related Costs Oxide Plant Lease and Oxide Plant Lease Costs
Revenue, Deferred Revenue and Related Costs Oxide Plant Lease and Oxide Plant Lease Costs	19. Revenue, Deferred Revenue and Related Costs Oxide Plant Lease and Oxide Plant Lease Costs For the nine months ended September 30, 2020 the Company recorded revenue of approximately $4.6 million and related costs of approximately $1.6 million associated with the lease of the Velardeña Properties oxide plant. The Company recognizes oxide plant lease fees and reimbursements for labor, utility and other costs as “Revenue: Oxide plant lease” in the Condensed Consolidated Statements of Operations following the guidance of ASC 842. ASC 842 supports recording as gross revenue the reimbursement of expenses incurred directly by the Company in performing its obligations under the lease in situations where the entity has control over the specific goods or services transferred to a customer as a principal versus as an agent. The actual costs incurred for reimbursed direct labor and utility costs are reported as “Oxide plant lease costs” in the Condensed Consolidated Statements of Operations. The Company recognizes lease fees during the period the fees are earned per the terms of the lease. On August 2, 2017, the Company granted Hecla an option to extend the oxide plant lease for an additional period of up to two years ending no later than December 31, 2020 (the “Extension Period”) in exchange for a $1.0 million upfront cash payment and the purchase of $1.0 million, or approximately 1.8 million shares, of the Company’s common stock, issued at par at a price of $0.55 per share, based on an undiscounted 30-day volume weighted average stock price. The option and lease extension were memorialized in (i) an Option Agreement dated August 2, 2017 among the Company and Hecla Mining Company (the “Option Agreement”), and (ii) a Second Amendment to Master Agreement and Lease Agreement dated August 2, 2017 among Minera William S.A. de C.V., an indirect subsidiary of the Company, and Minera Hecla S.A. de C.V., an indirect subsidiary of Hecla Mining Company (the “Second Amendment”). Under the Second Amendment, Hecla had an option to extend the lease to December 31, 2020 by exercising the option no later than October 3, 2018. On October 1, 2018 Hecla exercised the Second Amendment option and extended the lease to December 31, 2020. All of the fixed fees and throughput related charges remain the same as under the original lease. Similar volume limitations apply to any required future tailings expansions, which Hecla will fund, leaving unused at the end of the lease term an agreed amount of capacity in the expanded tailings facility. Pursuant to the Second Amendment, Hecla had the right to terminate the lease during the Extension Period for any reason with 120 days’ notice. The Company will recognize the $1.0 million of income from granting the option over the expected life of the lease from beginning from the date of the Second Amendment dated August 2, 2017 through November 30, 2020 on a straight-line basis, including such income in “Revenue: Oxide plant lease” in the Condensed Consolidated Statements of Operations. During the nine months ended September 30, 2020 the Company recognized approximately $0.2 million of amortized income related to the upfront cash payment. As of September 30, 2020, the unamortized portion of the lease option totaled approximately $0.1 million, recorded as short term “Deferred revenue” on the Condensed Consolidated Balance Sheets. On December 2, 2019 the Company and Hecla entered into a Third Amendment to the Master Agreement and Lease Agreement dated August 2, 2017. Under the terms of the Third Amendment, the Company has agreed to reduce the per tonne fee payable by Hecla for the duration of the lease term, commencing on January 1, 2020 from $22.00 per tonne to $11.00 per tonne. However, the Company will receive $22.00 per tonne processed during any month in which one of the following conditions occur: (1) the Comex daily silver spot closing average price for such month is equal to or greater than $20.00 per ounce, or (2) the mill head grade average from the metallurgical balance for such month is equal to or greater than 1,000 grams per ton equivalent silver head grade. If either of the conditions are met in any month, Hecla will pay the $22.00 fee on all amounts processed in the oxide plant during such month. The reduced fee only applies to the tonnage-based payments under the Lease Agreement; the monthly lease payment of $125,000 per month is not affected by the Third Amendment. During each of the three months ended September 30, 2020, the Comex daily silver spot closing average price exceeded $20.00 per ounce. As a result, the Company received the higher $22.00 per tonne for material processed during those months. Under the terms of the Lease Agreement, Hecla had the right to terminate the Lease Agreement at any time upon 120 days written notice. The Third Amendment extended the advance notice required to 150 days. On July 7, 2020, the Company received notification from Hecla terminating the Lease Agreement pursuant to the Third Amendment, effective November 30, 2020. Pursuant to the terms of the Lease Agreement, Hecla had a one-time right of first refusal to continue to lease the plant following a termination notice through December 31, 2020 if the Company decided to use the oxide plant for its own purposes before December 31, 2020. The Company provided written notice to Hecla of its intent to use the oxide plant for its own purposes and Hecla provided written confirmation to the Company that it would not exercise its right of first refusal pursuant to the Lease Agreement. The Company has determined that the ability to receive the higher $22.00 per tonne fee, as described above, creates a derivative asset. The Company treated the derivative asset as an upfront lease payment that will be amortized over the remaining life of the lease and also recorded deferred revenue equal to the value of the derivative asset, as more fully described in Note 7. The amortization of the upfront lease payment and the increase in the derivative asset at December 31, 2019 were recorded as an increase of approximately $74,000 to “Revenue: Oxide plant lease” in the Consolidated Statements of Operations for the period ended December 31, 2019. For the nine-month period ended September 30, 2020 the amortization of the upfront lease payment and the decrease in the derivative asset (Note 7) were recorded as an increase of approximately $132,000 to “Revenue: Oxide plant lease” in the Consolidated Statements of Operations. For the nine months ended September 30, 2019 the Company recorded revenue of approximately $5.9 million and related costs of approximately $1.8 million associated with the lease of the Velardeña Properties oxide plant. During the nine months ended September 30, 2019 the Company also recognized approximately $0.2 million of amortized income related to the upfront cash payment from Hecla, as discussed above.

Interest and Other Expense, Net

Interest and Other Expense, Net	9 Months Ended
	Sep. 30, 2020
Interest and Other Expense, Net
Interest and Other Expense, Net	20. Interest and Other Expense, Net For the nine months ended September 30, 2020 the Company recognized approximately $0.1 million Interest and Other Expense primarily related to amounts payable to Sentient and Autlán (see Notes 13 and 14). For the nine months ended September 30, 2019 the Company recognized approximately $0.2 million of Interest and Other Expense primarily related to the sale of Golden Tag shares held by the Company at that time. All the Golden Tag shares were sold during the third quarter 2019.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Information
Supplemental Cash Flow Information	21. Supplemental Cash Flow Information The following table reconciles net loss for the period to cash used in operations: Nine Months Ended September 30, 2020 2019 (in thousands) Cash flows from operating activities: Net loss $ (6,945) $ (6,569) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 770 814 Accretion of asset retirement obligation 184 167 Decrease in derivative at fair value, net 3 — Loss on trading securities — 217 Asset write off 100 19 Gain on sale of assets (25) (144) Stock compensation 771 725 Changes in operating assets and liabilities from continuing operations: (Increase) decrease in lease receivable (54) 21 Decrease in prepaid expenses and other assets 30 244 Decrease in inventories 33 3 Decrease in value added tax recoverable, net — 2 Decrease (increase) in other long term assets 143 (396) Decrease in reclamation liability (3) (68) (Decrease) increase in accounts payable and accrued liabilities (823) 135 (Decrease) increase in other current liabilities (1,594) 1,500 Decrease in deferred revenue (372) (219) (Decrease) increase in other long term liabilities (109) 427 Net cash used in operating activities $ (7,891) $ (3,122) The following table sets forth supplemental cash flow information and non-cash transactions: Nine Months Ended September 30, 2020 2019 (in thousands) Supplemental disclosure: Interest paid $ 95 $ — Income taxes paid $ 284 $ — Supplemental disclosure of non-cash transactions: Deferred equity offering costs amortized $ 32 $ 58

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies
Commitments and Contingencies	22. Commitments and Contingencies At September 30, 2020 and December 31, 2019, the Company had no gain or loss contingencies. The Company has certain purchase and lease commitments as set forth in the Company’s Form 10-K for the year ended December 31, 2019.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2020
Segment Information
Segment Information	23. Segment Information The Company’s sole activity is the mining, construction and exploration of mineral properties containing precious metals. The Company’s reportable segments are based upon the Company’s revenue producing activities and cash consuming activities. The Company reports two segments, one for its Velardeña Properties in Mexico and the other comprised of non-revenue producing activities including exploration, construction and general and administrative activities. Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance. The financial information relating to the Company’s segments is as follows: Exploration, El Costs Depreciation, Quevar, Velardeña Three Months Ended Applicable Depletion and and Administrative Pre-Tax (gain) Capital September 30, 2020 Revenue to Sales Amortization Expense loss Total Assets Expenditures Velardeña Properties $ 2,146 $ 582 $ 162 $ 358 $ (959) $ 65 Corporate, Exploration and Other — — 64 2,056 2,227 35 $ 2,146 $ 582 $ 226 $ 2,414 $ 1,268 $ 100 Nine Months Ended September 30, 2020 Velardeña Properties $ 4,566 $ 1,566 $ 562 $ 1,339 $ (820) $ 4,912 $ 66 Corporate, Exploration and Other — — 208 6,608 7,747 11,668 35 $ 4,566 $ 1,566 $ 770 $ 7,947 $ 6,927 $ 16,580 $ 101 Three Months Ended September 30, 2019 Velardeña Properties $ 1,944 $ 594 $ 195 $ 686 $ (276) $ — Corporate, Exploration and Other — — 75 1,995 2,027 1 $ 1,944 $ 594 $ 270 $ 2,681 $ 1,751 $ 1 Nine Months Ended September 30, 2019 Velardeña Properties $ 5,852 $ 1,804 $ 587 $ 1,962 $ (959) $ 4,502 $ 1 Corporate, Exploration and Other — — 227 6,916 7,519 6,731 27 $ 5,852 $ 1,804 $ 814 $ 8,878 $ 6,560 $ 11,233 $ 28

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions
Related Party Transactions	24. Related Party Transactions The following sets forth information regarding transactions between the Company (and its subsidiaries) and its officers, directors and significant stockholders. Administrative Services, Lease of Equipment: Beginning in August 2016, the Company began providing limited accounting and other administrative services to Minera Indé, an indirect subsidiary of Sentient. At September 30, 2020, Sentient, through the Sentient executive funds, holds approximately 28% of the Company’s 149.0 million shares of issued and outstanding common stock. The services are provided locally in Mexico by the administrative staff in the Company’s Mexico office. The Company charges Minera Indé $15,000 per month for the services, which provides reimbursement to the Company for its costs incurred plus a small profit margin. Amounts received under the arrangement reduce costs incurred for exploration. The Company’s Board of Directors and Audit Committee approved the agreement. For the nine months ended September 30, 2020 and 2019 the Company charged Minera Indé approximately $135,000 for services, offsetting costs that are recorded in “ Exploration expense ” in the Condensed Consolidated Statements of Operations. Beginning in July 2020, the Company has agreed to lease certain nonessential mining equipment to Minera Indé over a three-month period for $20,000. The lease could be extended beyond three months for $3,000 per month. The Audit Committee approved the agreement. Debt – Related Party As previously discussed, on March 30, 2020, the Company entered into a short-term loan agreement with Sentient whereby the Company received an unsecured loan in the amount of $1,000,000. The Sentient Loan had an interest rate of 10% per annum and was due in full, together with accrued interest and any other amount outstanding under the loan agreement, on December 31, 2020. During August 2020, the Company paid in full the principal amount of the loan plus accrued interest. See Note 13 for a full description of the loan.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events
Subsequent Events	25. Subsequent Events Exercise of Warrants On October 20, 2020, 2.5 million Series A warrants issued in the April 2020 Offering were exercised according to the terms of the warrant agreement and 2.5 million shares of the Company’s common stock were issued at a price of $0.30 per share. The Company received approximately $0.8 million in cash proceeds from the exercise. COVID-19 On March 11, 2020, the World Health Organization declared the outbreak of the respiratory disease caused by the new coronavirus as “pandemic”. As of the date of issuance of the condensed consolidated financial statements, the Company’s financial condition has not been significantly impacted, however, the Company continues to monitor the situation. No impairments were recorded as of the condensed consolidated balance sheet date, however, due to uncertainty surrounding the situation, management’s judgment regarding this could change in the future. In addition, while the Company’s results of operation, cash flows, and financial condition could be negatively impacted, the extent of the impact cannot be reasonably estimated at this time.

Prepaid Expenses and Other As_2

Prepaid Expenses and Other Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Prepaid Expenses and Other Assets
Schedule of prepaid expenses and other current assets	September 30, December 31, 2020 2019 (in thousands) Prepaid insurance $ 198 $ 494 Recoupable deposits and other 372 175 $ 570 $ 669

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2020
Inventories, net
Schedule of inventories at the Velardena Properties	September 30, December 31, 2020 2019 (in thousands) Material and supplies $ 199 $ 231 $ 199 $ 231

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment, Net
Schedule of components of property, plant and equipment	September 30, December 31, 2020 2019 (in thousands) Mineral properties $ 9,353 $ 9,353 Exploration properties 2,418 2,518 Royalty properties 200 200 Buildings 3,755 3,755 Mining equipment and machinery 16,027 16,049 Other furniture and equipment 887 884 Asset retirement cost 948 866 33,588 33,625 Less: Accumulated depreciation and amortization (28,245) (27,594) $ 5,343 $ 6,031

Other Long-Term Assets (Tables)

Other Long-Term Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Other Long-Term Assets
Schedule of Other long-term assets	September 30, December 31, 2020 2019 (in thousands) Deferred offering costs $ 479 $ 511 Right of use assets 509 620 $ 988 $ 1,131

Accounts Payable and Other Ac_2

Accounts Payable and Other Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Accounts Payable and Other Accrued Liabilities
Schedule of accounts payable and other accrued liabilities	September 30, December 31, 2020 2019 (in thousands) Accounts payable and accruals $ 583 $ 710 Accrued employee compensation and benefits 721 724 Value added tax payable — 401 Income taxes payable — 292 $ 1,304 $ 2,127

Other Liabilities (Tables)

Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Other Liabilities, Current
Schedule of other current liabilities	September 30, December 31, 2020 2019 (in thousands) Autlán refundable deposit $ — $ 1,251 Premium financing 108 455 Office lease liability 122 118 $ 230 $ 1,824

Asset Retirement and Reclamat_2

Asset Retirement and Reclamation Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Asset Retirement and Reclamation Liabilities
Summary of activity in the Velardena Properties ARO	Nine Months Ended September 30, 2020 2019 (in thousands) Beginning balance $ 2,825 $ 2,660 Changes in estimates, and other 82 (60) Accretion expense 184 167 Ending balance $ 3,091 $ 2,767

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Measurements
Schedule of financial assets and liabilities at fair value	Level 1 Level 2 Level 3 Total (in thousands) At September 30, 2020 Assets: Cash and cash equivalents $ 8,658 $ — $ — $ 8,658 Derivative at fair value — — 251 251 $ 8,658 $ — $ 251 $ 8,909 At December 31, 2019 Assets: Cash and cash equivalents $ 4,593 $ — $ — $ 4,593 Derivative at fair value — — 254 254 $ 4,593 $ — $ 254 $ 4,847

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Equity
Schedule of status of the restricted stock grants issued under the Equity Plan	Weighted Average Grant Date Fair Number of Value Per Restricted Stock Grants Shares Share Outstanding at December 31, 2019 318,003 $ 0.45 Granted during the period 300,000 0.42 Restrictions lifted during the period (297,333) 0.35 Forfeited during the period — — Outstanding September 30, 2020 320,670 $ 0.37
Schedule of status of the stock option grants issued under the Equity Plan	Weighted Average Exercise Number of Price Per Equity Plan Options Shares Share Outstanding at December 31, 2019 30,310 $ 8.06 Granted during the period — — Forfeited or expired during period (30,310) $ 8.06 Exercised during period — — Outstanding September 30, 2020 — $ — Exercisable at end of period — $ — Granted and vested — $ —
Schedule of restricted stock units	Weighted Average Grant Date Fair Number of Value Per Restricted Stock Units Shares Share Outstanding at December 31, 2019 2,830,038 $ 0.78 Granted during the period 780,000 0.40 Restrictions lifted during the period — — Forfeited during the period — — Outstanding September 30, 2020 3,610,038 $ 0.70
Summary of the status of the Company's common stock warrants	Weighted Number of Average Exercise Underlying Price Per Common Stock Warrants Shares Share Outstanding at December 31, 2019 14,653,846 $ 0.39 Granted during the period — — Series A warrants 7,500,000 0.30 Series B warrants 3,750,000 0.30 Dilution adjustment — — Expired during period — — Exercised during period — — Outstanding September 30, 2020 25,903,846 $ 0.35

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Information
Schedule of reconciliation of net loss for the period to cash used in operations	Nine Months Ended September 30, 2020 2019 (in thousands) Cash flows from operating activities: Net loss $ (6,945) $ (6,569) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 770 814 Accretion of asset retirement obligation 184 167 Decrease in derivative at fair value, net 3 — Loss on trading securities — 217 Asset write off 100 19 Gain on sale of assets (25) (144) Stock compensation 771 725 Changes in operating assets and liabilities from continuing operations: (Increase) decrease in lease receivable (54) 21 Decrease in prepaid expenses and other assets 30 244 Decrease in inventories 33 3 Decrease in value added tax recoverable, net — 2 Decrease (increase) in other long term assets 143 (396) Decrease in reclamation liability (3) (68) (Decrease) increase in accounts payable and accrued liabilities (823) 135 (Decrease) increase in other current liabilities (1,594) 1,500 Decrease in deferred revenue (372) (219) (Decrease) increase in other long term liabilities (109) 427 Net cash used in operating activities $ (7,891) $ (3,122) The following table sets forth supplemental cash flow information and non-cash transactions: Nine Months Ended September 30, 2020 2019 (in thousands) Supplemental disclosure: Interest paid $ 95 $ — Income taxes paid $ 284 $ — Supplemental disclosure of non-cash transactions: Deferred equity offering costs amortized $ 32 $ 58

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Information
Schedule of financial information relating to discontinued operations and continuing operations	Exploration, El Costs Depreciation, Quevar, Velardeña Three Months Ended Applicable Depletion and and Administrative Pre-Tax (gain) Capital September 30, 2020 Revenue to Sales Amortization Expense loss Total Assets Expenditures Velardeña Properties $ 2,146 $ 582 $ 162 $ 358 $ (959) $ 65 Corporate, Exploration and Other — — 64 2,056 2,227 35 $ 2,146 $ 582 $ 226 $ 2,414 $ 1,268 $ 100 Nine Months Ended September 30, 2020 Velardeña Properties $ 4,566 $ 1,566 $ 562 $ 1,339 $ (820) $ 4,912 $ 66 Corporate, Exploration and Other — — 208 6,608 7,747 11,668 35 $ 4,566 $ 1,566 $ 770 $ 7,947 $ 6,927 $ 16,580 $ 101 Three Months Ended September 30, 2019 Velardeña Properties $ 1,944 $ 594 $ 195 $ 686 $ (276) $ — Corporate, Exploration and Other — — 75 1,995 2,027 1 $ 1,944 $ 594 $ 270 $ 2,681 $ 1,751 $ 1 Nine Months Ended September 30, 2019 Velardeña Properties $ 5,852 $ 1,804 $ 587 $ 1,962 $ (959) $ 4,502 $ 1 Corporate, Exploration and Other — — 227 6,916 7,519 6,731 27 $ 5,852 $ 1,804 $ 814 $ 8,878 $ 6,560 $ 11,233 $ 28

Basis of Preparation of Finan_2

Basis of Preparation of Financial Statements and Nature of Operations (Details) - property	9 Months Ended
	Sep. 30, 2020	Apr. 09, 2020
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Number of Exploration Properties	12
El Quevar Project
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
Rodeo Property
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Investment ownership percentage	100.00%
Barrick Earn-In Agreement | El Quevar Project
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Investment ownership percentage		70.00%

Correction of Immaterial Erro_2

Correction of Immaterial Error - Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Jan. 01, 2019	Jan. 31, 2018
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Accumulated deficit	$ 523,725	$ 516,780
Cumulative Effect Adjustment
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Accumulated deficit	$ 267
Default In Tax Payments | Cumulative Effect Adjustment
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Accumulated deficit			$ 113	$ 154

Change in Accounting Principle

Change in Accounting Principle - Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019	Jun. 01, 2019
Change in Accounting Principle
Term of operating lease			5 years 8 months
Future lease payments discount rate		9.50%
COLORADO
Change in Accounting Principle
Right of use assets		$ 465
Lease liability		$ 450
Mexico and Argentina
Change in Accounting Principle
Right of use assets	$ 45
Lease liability	$ 45
Mexico
Change in Accounting Principle
Term of operating lease	4 years
Right of use assets	$ 174
Lease liability	$ 174
Argentina
Change in Accounting Principle
Term of operating lease	2 years
Right of use assets	$ 18
Lease liability	$ 18

Cash and Cash Equivalents and_2

Cash and Cash Equivalents and Short-term Investments (Details) $ in Billions	Sep. 30, 2020USD ($)
Cash and Cash Equivalents and Short-Term Investments
Financial institutions minimum net worth	$ 1

Prepaid Expenses and Other As_3

Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Prepaid Expenses and Other Assets
Prepaid insurance	$ 198	$ 494
Recoupable deposits and other	372	175
Prepaid expenses and other assets	570	$ 669
Receivables for Reimbursement of Costs	$ 200

Derivative at Fair Value (Detai

Derivative at Fair Value (Details) $ in Thousands	Dec. 03, 2019$ / item	Dec. 02, 2019$ / item	Sep. 30, 2020USD ($)$ / item	Dec. 31, 2019USD ($)
Variable fee (per tonne) | $ / item	11	22	22
Derivative at fair value			$ 251	$ 254
Deferred Revenue			45	$ 180
Decrease in derivatives			(3)
Plant Lease
Deferred Revenue			$ 135

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Inventories, net	$ 199	$ 231
Obsolescence allowance	200	200
Velardena Properties
Material and supplies	199	231
Inventories, net	$ 199	$ 231

Value added tax receivable, n_2

Value added tax receivable, net (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
VAT receivables offset against VAT payable		$ 73
Mexico
VAT receivables offset against VAT payable	$ 37

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property, plant and equipment
Property, plant and equipment, gross	$ 33,588	$ 33,625
Less: Accumulated depreciation and amortization	(28,245)	(27,594)
Property, plant and equipment, net	5,343	6,031
Mineral properties
Property, plant and equipment
Property, plant and equipment, gross	9,353	9,353
Exploration properties
Property, plant and equipment
Property, plant and equipment, gross	2,418	2,518
Royalty properties
Property, plant and equipment
Property, plant and equipment, gross	200	200
Buildings
Property, plant and equipment
Property, plant and equipment, gross	3,755	3,755
Mining equipment and machinery
Property, plant and equipment
Property, plant and equipment, gross	16,027	16,049
Other furniture and equipment
Property, plant and equipment
Property, plant and equipment, gross	887	884
Asset retirement cost
Property, plant and equipment
Property, plant and equipment, gross	$ 948	$ 866

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Disposals (Details)	Jul. 20, 2020CAD ($)shares	Jul. 20, 2020USD ($)shares	Jul. 14, 2020USD ($)	Apr. 09, 2020$ / sharesshares	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Property, plant and equipment
Property, plant and equipment, net					$ 5,343,000			$ 5,343,000		$ 6,031,000
Number of properties								2
Gain on sale of assets								25,000	$ 144,000
Other operating (expense) income, net					$ 24,000		$ 45,000	$ (78,000)	$ 225,000
Barrick Earn-In Agreement
Property, plant and equipment
Investment ownership percentage					30.00%			30.00%
Barrick Gold Corporation | Barrick Earn-In Agreement
Property, plant and equipment
Total work expenditure Incur								$ 10,000,000
Period for work expenditure								8 years
Work expenditure incur for year one								$ 500,000
Work expenditure incur for year two								500,000
Work expenditure incur for year three								1,000,000
Work expenditure incur for year four								1,000,000
Work expenditure incur for year five								1,000,000
Work expenditure incur for year six								2,000,000
Work expenditure incur for year seven								2,000,000
Work expenditure incur for year eight								2,000,000
Minimum work expenditures spend to withdraw agreement								$ 1,000,000
Number of Days Notice Required to Withdraw Agreement								30 days
NewCo | Barrick Earn-In Agreement
Property, plant and equipment
Investment ownership percentage					70.00%			70.00%
Sale of Santa Maria Property | Fabled Copper Corp. | Binding Letter of Intent Agreement
Property, plant and equipment
Percentage of interest claims	100.00%	100.00%
Number Of Business Days To Conduct Due Diligence	10 days	10 days
Secure Financing Amount	$ 4,000,000
Cash consideration received			$ 500,000
Consideration Received in Shares | shares | shares	1,000,000	1,000,000
First year anniversary consideration		$ 1,500,000
Second year anniversary consideration		$ 2,000,000
Percentage of royalty return	1.00%	1.00%
El Quevar Project | Barrick Gold Corporation | Barrick Earn-In Agreement
Property, plant and equipment
Investment ownership percentage				70.00%
Abelena Project
Property, plant and equipment
Carrying value of concessions allowed						$ 100,000
Other operating (expense) income, net						$ 100,000
Equipment Leased to Other Party [Member] | Velardena Properties
Property, plant and equipment
Property, plant and equipment, net					$ 500,000			$ 500,000		$ 500,000
Private Placement | Barrick Gold Corporation
Property, plant and equipment
Sale of Stock, Number of Shares Issued in Transaction | shares				4,719,207
Sale of Stock, Price Per Share | $ / shares				$ 0.2119

Other Long-Term Assets (Details

Other Long-Term Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Other Long-Term Assets
Deferred offering costs	$ 479	$ 511
Right of use assets	509	620
Other long-term assets	$ 988	$ 1,131

Accounts Payable and Other Ac_3

Accounts Payable and Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accounts payable and accruals	$ 583	$ 710
Accrued employee compensation and benefits	721	724
Value added tax payable		401
Income taxes payable		292
Accounts payable and other accrued liabilities	1,304	2,127
Accrued vacation	300	200
Withholding taxes and benefits payable	400	500
VAT receivables offset against VAT payable		73
Velardena Properties
Accounts payable and accruals	200	300
Accrued employee compensation and benefits	500	500
Corporate, Exploration and Other
Accounts payable and accruals	$ 400	$ 300

Debt - Related Party (Details)

Debt - Related Party (Details) - USD ($)	Aug. 12, 2020	Sep. 30, 2020	Mar. 30, 2020
Short-term Debt [Line Items]
Payment of related party loan (note 13)		$ 1,000,000
Sentient Loan
Short-term Debt [Line Items]
Short Term Loan			$ 1,000,000
Short term loan interest rate			10.00%
Payment of related party loan (note 13)	$ 1,037,159
Related Party Transaction, Expenses from Transactions with Related Party	$ 0
Sentient Loan | Sentient
Short-term Debt [Line Items]
Ownership (as a percent)		28.00%	32.00%

Other Liabilities (Details)

Other Liabilities (Details) $ in Thousands	Apr. 07, 2020USD ($)	Apr. 06, 2020	Dec. 09, 2019USD ($)	Sep. 11, 2019USD ($)	Jun. 30, 2019USD ($)payment	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)payment
Other Liabilities
Autlan refundable deposit							$ 1,251
Premium financing						$ 108	455
Office lease liability						122	118
Other current liabilities						$ 230	$ 1,824
Repayments of deposits	$ 81		$ 257
Refundable Deposit Interest Rate	12.00%	11.00%				11.00%
Repayment of refundable deposit				$ 1,500
Interest paid on refundable deposit						$ 66
Interest expense on refundable deposit						55
Premium amount					$ 151
Amount Financed For Premium Outstanding Balance						0
Number of payment | payment					12		12
Premium interest rate					5.74%		5.74%
Insurance premium payable						108	$ 482
Other long term liabilities						$ 385	$ 494

Asset Retirement and Reclamat_3

Asset Retirement and Reclamation Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2012
Asset retirement and reclamation liabilities	$ 3,102
Summary of activity in the Velardena Operations ARO
ARO, Beginning balance	2,839
Accretion expense	184	$ 167
ARO, Ending balance	3,102
Velardena Properties
Asset retirement and reclamation liabilities	3,091	2,767	$ 1,900
Summary of activity in the Velardena Operations ARO
ARO, Beginning balance	2,825	2,660
Changes in estimates, and other	82	(60)
Accretion expense	184	167
ARO, Ending balance	$ 3,091	$ 2,767

Fair value measurements (Detail

Fair value measurements (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)g / T$ / shares	Dec. 31, 2019USD ($)
Fair value measurements
Derivative at fair value	$ 251	$ 254
Silver Price Per Ounce | $ / shares	$ 20
Threshold Grams of Silver Per Tonne | g / T	1,000
Percentage of probability	95.00%
Recurring
Fair value measurements
Cash and cash equivalents	$ 8,658	4,593
Derivative at fair value	251	254
Assets	8,909	4,847
Recurring | Level 1
Fair value measurements
Cash and cash equivalents	8,658	4,593
Assets	8,658	4,593
Recurring | Level 3
Fair value measurements
Derivative at fair value	251	254
Assets	251	254
Non-recurring
Fair value Assumptions
Fair value measurements	$ 0	$ 0

Income Taxes (Detail)

Income Taxes (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Income Taxes
Income taxes	$ 18,000	$ 9,000	$ 18,000	$ 9,000
Net deferred tax assets	0		0		$ 0
Net deferred tax liabilities	0		$ 0		0
Percentage of tax withholding			5.00%
Amount of tax with-held	284,000		$ 284,000
Interest on tax	20,000		20,000
Gross unrecognized tax benefits at beginning of period	$ 0		$ 0		$ 0

Equity - Issue and Conversion (

Equity - Issue and Conversion (Details) - USD ($)	Jul. 21, 2020	Apr. 22, 2020	Apr. 20, 2020	Apr. 09, 2020	Jul. 17, 2019	Jul. 10, 2019	Dec. 31, 2016	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	May 09, 2018
Proceeds from issuance of common stock, net of issuance costs											$ 12,032,000	$ 2,492,000
Warrants Series A and B
Exercise price			$ 0.24
Warrants issued			$ 1,900,000
Expected volatility (as a percent)			95.00%
Risk-free rate (as a percent)			0.41%
Series A Warrants
Warrants Exercise Period					6 months
Exercise price					$ 0.33
Expiration term of warrant					5 years
Warrants issued					$ 2,100,000
Expected volatility (as a percent)					95.00%
Risk-free rate (as a percent)					1.90%
Series B Warrants
Warrants Exercise Period					6 months
Exercise price					$ 0.33
Incremental fair value of warrants					$ 300,000
Expected volatility (as a percent)					88.00%
Risk-free rate (as a percent)					1.90%
Private Placement
Total cost of offering			$ 334,000
Placement agent fee (as a percent)			6.00%
Private Placement | Warrants Series A and B
Share Price			$ 0.30
Aggregate gross proceeds of warrants			$ 3,000,000
ATM Agreement
Proceeds from issuance of common stock, net of issuance costs											$ 223,000
Common stock issued (in shares)											823,452	33,995
Aggregate value of securities allowed under agreement							$ 5,000,000
Aggregate securities allowed under agreement (in shares)							10,000,000
Sale price (in dollars per shares)								$ 0.28		$ 0.34	$ 0.28	$ 0.34
Gross proceeds from common stock sale												$ 11,000
Commission rate (as a percent)							2.00%
Amortization of deferred cost											$ 8,000
common shares available for issuance								8,100,000			8,100,000
Unamortized deferred cost								$ 129,000			$ 129,000
LPC Program [Member]
Proceeds from issuance of common stock, net of issuance costs											$ 216,000
Common stock issued (in shares)											900,000
Sale price (in dollars per shares)								$ 0.27			$ 0.27
Amortization of deferred cost											$ 24,000
Total cost of offering					$ 300,000
Placement agent fee (as a percent)					6.00%
Unamortized deferred cost								$ 353,000			$ 353,000
LPC Program [Member] | May 2016 Warrants
Exercise price					$ 0.75
LPC Program [Member] | Series A Warrants
Common shares issuable upon exercise					8,653,846
Exercise price					$ 0.35
Aggregate gross proceeds of warrants					$ 2,250,000
LPC Program [Member] | Series B Warrants
Common shares issuable upon exercise					4,500,000
Number of common shares which can be purchased with each warrant					1
Exercise price					$ 0.35
Commitment purchase agreement
Proceeds from issuance of common stock, net of issuance costs												$ 590,000
Common stock issued (in shares)											12,200,000	2,113,642
Aggregate value of securities allowed under agreement													$ 10,000,000
Sale price (in dollars per shares)										$ 0.28		$ 0.28
Amortization of deferred cost												$ 58,000
Firm Commitment Offering
Number of shares to purchase in agreement	17,857,143
Purchase price	$ 0.42
Proceeds from issuance of common stock, net of issuance costs	$ 8,000,000
Total cost of offering	$ 155,000
Percentage of underwriting discount	6.00%
Over-Allotment Option
Number of shares to purchase in agreement	2,678,571
Minimum | Private Placement
Warrants Exercise Period		5 years
Maximum | Private Placement
Warrants Exercise Period		6 years
Common Stock | Private Placement
Share Price			$ 0.20
Common shares issuable upon exercise			11,250,000
Common stock issued (in shares)			15,000,000						15,000,000
Common Stock | Private Placement | Series A Warrants
Common shares issuable upon exercise			7,500,000
Common Stock | Private Placement | Series B Warrants
Common shares issuable upon exercise			3,750,000
Exercise price		$ 0.26
Common Stock | Subscription Agreement
Common stock issued (in shares)									4,719,207
Common Stock | LPC Program [Member]
Share Price					$ 0.26
Common stock issued (in shares)					8,653,846	8,653,846
Common Stock | Registered direct purchase agreement
Common stock issued (in shares)										8,653,846
Common Stock | Firm Commitment Offering
Common stock issued (in shares)								20,535,714
Common Stock | Maximum | LPC Program [Member] | Series A Warrants
Common stock issued (in shares)					8,653,846
Barrick | Subscription Agreement
Number of shares to purchase in agreement				4,719,207
Purchase price				$ 0.2119
Proceeds from issuance of common stock, net of issuance costs				$ 900,000

Equity - Non-Option Incentive (

Equity - Non-Option Incentive (Details)	May 21, 2020USD ($)employeeshares	Feb. 26, 2019USD ($)employeeshares	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2020USD ($)employee$ / sharesshares	Sep. 30, 2019USD ($)
Weighted Average Grant Date Fair Value Per Share - Non-option
Compensation expense | $			$ 105,000	$ 72,000		$ 771,000	$ 725,000
Modification of previously awarded KELTIP Units | $					$ 583,000
KELTIP Units
Weighted Average Grant Date Fair Value Per Share - Non-option
Compensation expense | $	$ 448,000
KELTIP Units | Officers
Number of Shares - Non-option
Granted during the year (in shares)	1,400,000	705,000
Weighted Average Grant Date Fair Value Per Share - Non-option
Number of employees | employee	2	2
Equity Plan | Restricted Stock
Number of Shares - Non-option
Outstanding at beginning of year (in shares)						318,003
Granted during the year (in shares)						300,000
Restrictions lifted during the year (in shares)						(297,333)
Restriction lifted grants made in current year(in shares)						100,000
Outstanding at end of year (in shares)			320,670			320,670
Weighted Average Grant Date Fair Value Per Share - Non-option
Outstanding at beginning of year (in dollars per share) | $ / shares						$ 0.45
Granted during the year (in dollars per share) | $ / shares						0.42
Restrictions lifted during the year (in dollars per share) | $ / shares						0.35
Outstanding at end of year (in dollars per share) | $ / shares			$ 0.37			$ 0.37
Compensation expense | $						$ 90,000
Additional compensation expense expected to be recognized | $			$ 98,000			$ 98,000
Period for future recognition of additional compensation expense						22 months
Assumptions noted by using the Black-Scholes option pricing model for estimating fair value of each option award
Restrictions lifted during the year (in shares)						297,333
Equity Plan | Restricted Stock | Employees
Weighted Average Grant Date Fair Value Per Share - Non-option
Number of employees | employee						7
Deferred Compensation Plan | Restricted Stock Units (RSUs)
Number of Shares - Non-option
Outstanding at beginning of year (in shares)						2,830,038
Granted during the year (in shares)						780,000
Outstanding at end of year (in shares)			3,610,038			3,610,038
Weighted Average Grant Date Fair Value Per Share - Non-option
Outstanding at beginning of year (in dollars per share) | $ / shares						$ 0.78
Granted during the year (in dollars per share) | $ / shares						0.40
Outstanding at end of year (in dollars per share) | $ / shares			$ 0.70			$ 0.70
Compensation expense | $						$ 233,000
Additional compensation expense expected to be recognized | $			$ 135,000			$ 135,000
Number of unrestricted shares Director to receive for vested RSU upon termination from board						1
Deferred Compensation Plan | Restricted Stock Units (RSUs) | Director
Number of Shares - Non-option
Granted during the year (in shares)						300,000
Weighted Average Grant Date Fair Value Per Share - Non-option
Compensation expense | $						$ 120,000
KELTIP
Number of Shares - Non-option
Outstanding at beginning of year (in shares)						2,325,000
Outstanding at end of year (in shares)			3,725,000			3,725,000
KELTIP | KELTIP Units | Officers
Weighted Average Grant Date Fair Value Per Share - Non-option
Compensation expense | $		$ 254,000
Additional compensation expense | $		227,000
Modification of previously awarded KELTIP Units | $		$ 583,000
Vesting immediately | Equity Plan | Restricted Stock
Weighted Average Grant Date Fair Value Per Share - Non-option
Percentage of awards which will vest on each of the first, second and third anniversaries of the grant date						33.33%
Vest on first anniversary | Equity Plan | Restricted Stock
Weighted Average Grant Date Fair Value Per Share - Non-option
Percentage of awards which will vest on each of the first, second and third anniversaries of the grant date						33.33%
Vest on second anniversary | Equity Plan | Restricted Stock
Weighted Average Grant Date Fair Value Per Share - Non-option
Percentage of awards which will vest on each of the first, second and third anniversaries of the grant date						33.33%

Equity - Option Incentive (Deta

Equity - Option Incentive (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Weighted Average Exercise Price Per Share - Options
Compensation expense	$ 105	$ 72	$ 771	$ 725
Equity Plan | Employee Stock Option
Number of Shares - Options
Outstanding at beginning of period (in shares)			30,310
Forfeited or expired during period (in shares)			(30,310)
Exercised during period (in shares)			0
Weighted Average Exercise Price Per Share - Options
Outstanding at beginning of year (in dollars per share)			$ 8.06
Forfeited or expired during year (in dollars per share)			8.06
Exercised during period (in dollars per share)			$ 0

Equity - Warrants (Details)

Equity - Warrants (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 17, 2019	Jul. 10, 2019	May 31, 2016	Sep. 30, 2020	Dec. 31, 2019
Warrant
Number of Underlying Shares
Outstanding, beginning balance (in shares)				14,653,846
Outstanding, end balance (in shares)				25,903,846	14,653,846
Weighted Average Exercise Price Per Share
Outstanding, beginning balance (in dollars per share)				$ 0.39
Outstanding, end balance (in dollars per share)				$ 0.35	$ 0.39
May 2016 Warrants
Weighted Average Exercise Price Per Share
Exchanged during period (in shares)					4,500,000
Series A Warrants
Number of Underlying Shares
Granted (in shares)				7,500,000
Weighted Average Exercise Price Per Share
Granted (in dollars per share)				$ 0.30
Outstanding, end balance (in dollars per share)	$ 0.33
Expiration term of warrant	5 years
Warrants exercise period	6 months
Series B Warrants
Number of Underlying Shares
Granted (in shares)				3,750,000
Weighted Average Exercise Price Per Share
Granted (in dollars per share)				$ 0.30
Outstanding, end balance (in dollars per share)	$ 0.33
Exchanged during period (in shares)					4,500,000
Exchanged during the period (in dollar per share)					$ 0.35
Warrants exercise period	6 months
Registered Offering
Weighted Average Exercise Price Per Share
Sale price (in dollars per shares)			$ 0.50
Common stock issued (in shares)			8,000,000
Gross proceeds from common stock sale			$ 4
Registered Offering | 2016 Warrants
Number of Underlying Shares
Outstanding, end balance (in shares)			6,000,000
Weighted Average Exercise Price Per Share
Number of shares of common stock per capital unit (in shares)			0.75
Term of warrants			5 years
Number of common shares which can be purchased with each warrant			1
LPC Program [Member]
Weighted Average Exercise Price Per Share
Sale price (in dollars per shares)				$ 0.27
Common stock issued (in shares)				900,000
LPC Program [Member] | May 2016 Warrants
Weighted Average Exercise Price Per Share
Outstanding, end balance (in dollars per share)	$ 0.75
LPC Program [Member] | Series A Warrants
Weighted Average Exercise Price Per Share
Outstanding, end balance (in dollars per share)	$ 0.35
Common shares issuable upon exercise	8,653,846
LPC Program [Member] | Series B Warrants
Weighted Average Exercise Price Per Share
Outstanding, end balance (in dollars per share)	$ 0.35
Number of common shares which can be purchased with each warrant	1
Common shares issuable upon exercise	4,500,000
Common Stock | LPC Program [Member]
Weighted Average Exercise Price Per Share
Common stock issued (in shares)	8,653,846	8,653,846

Revenue Deferred Revenue and Re

Revenue Deferred Revenue and Related Costs Oxide Plant Lease and Oxide Plant Lease Costs (Details) $ / shares in Units, $ in Thousands, shares in Millions	Dec. 03, 2019$ / item	Dec. 02, 2019$ / oz$ / item	Aug. 02, 2017USD ($)$ / sharesshares	Aug. 31, 2017	Sep. 30, 2020USD ($)$ / oz	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)$ / item	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Oxide plant lease					$ 2,146	$ 1,944	$ 4,566	$ 5,852
Lease related costs					$ 582	$ 594	1,566	1,804
Increase (Decrease) in Deferred Revenue							(372)	(219)
Average price | $ / oz		20			20
Average head grade | $ / item		1,000
Lease payment							$ 125
Variable fee (per tonne) | $ / item	11	22					22
Oxide Plant
Renewal term			2 years
Expected lease proceeds			$ 1,000				$ 200	$ 200
Gross proceeds from common stock sale			$ 1,000
Common stock issued (in shares) | shares			1.8
Sale price (in dollars per shares) | $ / shares			$ 0.55
Volume weighted average stock price period			30 days
Termination notice period	150 days	120 days		120 days
Deferred revenue					$ 100		100
Increase (Decrease) in Deferred Revenue							$ 132		$ 74

Interest and Other Expense, N_2

Interest and Other Expense, Net (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Golden Tag
Interest and Other Income [Line Items]
Interest and other expense		$ 0.2
Sentient Loan
Interest and Other Income [Line Items]
Interest and other expense	$ 0.1

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net loss			$ (6,945)	$ (6,569)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	$ 226	$ 270	770	814
Accretion of asset retirement obligation			184	167
Decrease in derivative at fair value, net			3
Loss on trading securities				217
Asset write off			100	19
Gain on sale of assets			(25)	(144)
Stock compensation			771	725
Changes in operating assets and liabilities from continuing operations:
(Increase) decrease in lease receivable			(54)	21
Decrease in prepaid expenses and other assets			30	244
Decrease in inventories			33	3
Decrease in value added tax recoverable, net				2
Decrease (increase) in other long term assets			143	(396)
Decrease in reclamation liability			(3)	(68)
(Decrease) increase in accounts payable and accrued liabilities			(823)	135
(Decrease) increase in other current liabilities			(1,594)	1,500
Decrease in deferred revenue			(372)	(219)
(Decrease) increase in other long term liabilities			(109)	427
Net cash used in operating activities			$ (7,891)	$ (3,122)

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Supplemental and Non-cash transactions (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Supplemental Cash Flow Information
Interest paid	$ 95
Income taxes paid	284
Deferred equity offering costs amortized	$ 32	$ 58

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Contingencies
Loss contingency	$ 0	$ 0
Gain on contingencies	$ 0	$ 0

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)segment	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Information
Number of reportable segments | segment			2
Revenue	$ 2,146	$ 1,944	$ 4,566	$ 5,852
Mineral Extraction Processing and Marketing Costs	582	594	1,566	1,804
Depreciation, depletion and amortization	226	270	770	814
Exploration, El Quevar, Velardena and Administrative Expense	2,414	2,681	7,947	8,878
Pre-Tax (Income)/Loss	1,268	1,751	6,927	6,560
Total Assets	16,580	11,233	16,580	11,233	$ 13,357
Capital Expenditures	100	1	$ 101	28
Velardena Properties
Segment Information
Number of reportable segments | segment			1
Revenue	2,146	1,944	$ 4,566	5,852
Mineral Extraction Processing and Marketing Costs	582	594	1,566	1,804
Depreciation, depletion and amortization	162	195	562	587
Exploration, El Quevar, Velardena and Administrative Expense	358	686	1,339	1,962
Pre-Tax (Income)/Loss	(959)	(276)	(820)	(959)
Total Assets	4,912	4,502	4,912	4,502
Capital Expenditures	65		66	1
Corporate, Exploration and Other
Segment Information
Depreciation, depletion and amortization	64	75	208	227
Exploration, El Quevar, Velardena and Administrative Expense	2,056	1,995	6,608	6,916
Pre-Tax (Income)/Loss	2,227	2,027	7,747	7,519
Total Assets	11,668	6,731	11,668	6,731
Capital Expenditures	$ 35	$ 1	$ 35	$ 27

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) shares in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Mar. 30, 2020
Related Party Transaction
Lease revenue		$ 2,146,000	$ 1,944,000	$ 4,566,000	$ 5,852,000
Minera Inde
Related Party Transaction
Shares issued		149		149
Monthly charges received				$ 15,000
Received amount				$ 135,000
Lessor, Operating Lease, Term of Contract	3 months
Lessor, Operating Lease, Lease Not yet Commenced, Existence of Option to Extend [true false]	true
Lease revenue	$ 20,000
Lease income from extended period	$ 3,000
Sentient Loan
Related Party Transaction
Debt - related party						$ 1,000,000
Short term loan interest rate						10.00%
Sentient Loan | Sentient
Related Party Transaction
Ownership (as a percent)		28.00%		28.00%		32.00%

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	Oct. 20, 2020	Sep. 30, 2020	Jul. 17, 2019
Subsequent Event
Impairment charges		$ 0
Series A Warrants
Subsequent Event
Exercise price of warrants (in dollars per share)			$ 0.33
Series A Warrants | Subsequent Event
Subsequent Event
Warrants to purchase common stock	2.5
Exercise price of warrants (in dollars per share)	$ 0.30
Proceeds from Warrant	$ 800