Golden Minerals (AUMN) 10-Q 8 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 07, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-13627
Entity Registrant Name	Golden Minerals Co
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-4413382
Entity Address, Address Line One	350 INDIANA STREET, SUITE 650
Entity Address, City or Town	GOLDEN
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80401
City Area Code	303
Local Phone Number	839-5060
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	AUMN
Security Exchange Name	NYSEAMER
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		8,573,252
Entity Central Index Key	0001011509
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)		Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents (Note 5)		$ 3,393,000	$ 3,972,000
Short-term investments (Note 5)		11,000	20,000
Inventories, net (Note 7)		1,275,000	1,371,000
Value added tax receivable, net (Note 8)		2,916,000	1,465,000
Prepaid expenses and other assets (Note 6)		1,034,000	1,142,000
Total current assets		8,629,000	7,970,000
Property, plant and equipment, net (Note 9)		6,154,000	6,416,000
Investments (Note 5)		225,000	225,000
Other long-term assets (Note 10)		184,000	333,000
Total assets		15,192,000	14,944,000
Current liabilities
Accounts payable and other accrued liabilities (Note 11)		4,948,000	3,716,000
Other current liabilities (Note 13)		441,000	633,000
Total current liabilities		5,389,000	4,349,000
Asset retirement and reclamation liabilities (Note 12)		4,126,000	3,993,000
Other long-term liabilities (Note 13)		69,000	122,000
Total liabilities		9,584,000	8,464,000
Commitments and contingencies (Note 20)
Equity (Note 16)
Common stock, $.01 par value, 28,000,000 shares authorized; 7,935,665 and 6,836,735 shares issued and outstanding respectively	[1]	79,000	68,000
Additional paid-in capital		548,243,000	544,372,000
Accumulated deficit		(542,714,000)	(537,960,000)
Shareholders' equity		5,608,000	6,480,000
Total liabilities and equity		$ 15,192,000	$ 14,944,000
[1] (1) Reflects the one-for- 25 reverse stock split that became effective June 9, 2023. Refer to Note 1, “Basis of Preparation of Financial Statements and Nature of Operations.”

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)	Jun. 30, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares
CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Common stock, shares authorized	28,000,000	28,000,000
Common stock, shares issued	7,935,665	6,836,735
Common stock, shares outstanding	7,935,665	6,836,735

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Sale of metals (Note 17)		$ 4,973	$ 5,926	$ 9,190	$ 13,432
Total revenue		4,973	5,926	9,190	13,432
Costs and expenses:
Cost of metals sold (exclusive of depreciation shown below) (Note 17)		(3,859)	(4,639)	(7,905)	(8,961)
Exploration expense		(833)	(2,799)	(2,172)	(4,662)
El Quevar project expense		(166)	(177)	(317)	(294)
Velardea care and maintenance costs		(348)	(134)	(595)	(473)
Administrative expense		(1,216)	(1,275)	(2,547)	(2,548)
Stock-based compensation		(43)	(200)	(232)	(349)
Reclamation expense		(75)	(71)	(148)	(140)
Other operating income, net		81	502	104	890
Depreciation and amortization		(133)	(87)	(232)	(152)
Total costs and expenses		(6,592)	(8,880)	(14,044)	(16,689)
Loss from operations		(1,619)	(2,954)	(4,854)	(3,257)
Other income (expense):
Interest and other income (expense), net (Note 18)		(7)	(36)	(5)	(14)
Gain on foreign currency transactions		87	48	105	98
Total other income (expense)		80	12	100	84
Loss from operations before income taxes		(1,539)	(2,942)	(4,754)	(3,173)
Income taxes (Note 15)		51	129		44
Net loss		$ (1,488)	$ (2,813)	$ (4,754)	$ (3,129)
Net loss per common share - basic
Net loss per common share - basic	[1]	$ (0.21)	$ (0.42)	$ (0.68)	$ (0.47)
Weighted-average shares outstanding - basic	[2]	7,115,363	6,642,487	7,003,110	6,590,814
[1] (1) Reflects the one-for- 25 reverse stock split that became effective June 9, 2023. Refer to Note 1, “Basis of Preparation of Financial Statements and Nature of Operations.” (2) Potentially dilutive shares have not been included for loss periods because to do so would be anti-dilutive. Potentially dilutive shares at June 30, 2023, consist of 428,538 equivalent shares related to stock compensation and 2,457,329 equivalent shares related to warrants outstanding. Potentially dilutive shares at June 30, 2022, consist of 441,002 equivalent shares related to stock compensation and 392,154 equivalent shares related to warrants outstanding. See Note 16 for a discussion of stock-based compensation and warrants.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical)	6 Months Ended
	Jun. 30, 2023 shares	Jun. 30, 2022 shares
Employee Stock Option
Dilutive shares	428,538	441,002
Warrant
Dilutive shares	2,457,329	392,154

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Cash flows used in operating activities:
Net cash used in operating activities (Note 19)		$ (4,294)	$ (3,632)
Cash flows from (used in) investing activities:
Proceeds from sale of assets		26	125
Acquisitions of property, plant and equipment	$ (3)	(5)	(27)
Net cash from investing activities		21	98
Cash flows from financing activities:
Proceeds from issuance of common stock, net of issuance costs		3,694	1,050
Common stock shares relinquished to pay taxes			(228)
Net cash from financing activities		3,694	822
Net decrease in cash and cash equivalents		(579)	(2,712)
Cash and cash equivalents, beginning of period		3,972	12,229
Cash and cash equivalents, end of period	$ 9,517	$ 3,393	$ 9,517

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands		Scenario, Previously Reported [Member] Common Stock [Member]		Scenario, Previously Reported [Member] Additional Paid-in Capital [Member]	Scenario, Previously Reported [Member] Accumulated Deficit [Member]	Scenario, Previously Reported [Member]	Revision of Prior Period Error Correction Adjustment Accumulated Deficit [Member]	Revision of Prior Period Error Correction Adjustment	Common Stock [Member]		Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Increase (Decrease) in Stockholders' Equity
Adjustment related to correction of immaterial error (Note 4)							$ (93)	$ (93)
Balance at Dec. 31, 2021		$ 65	[1]	$ 542,081	$ (527,961)	$ 14,185			$ 65	[1]	$ 542,081	$ (528,054)	$ 14,092
Balance (in shares) at Dec. 31, 2021	[1]	6,538,566							6,538,566
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued (Note 16)											149		149
KELTIP shares issued net of shares relinquished to cover withholding taxes (Note 16)									$ 1	[1]	(230)		(229)
KELTIP shares issued net of shares relinquished to cover withholding taxes (Note 16) (in shares)	[1]								44,935
Net loss												(316)	(316)
Balance at Mar. 31, 2022									$ 66	[1]	542,000	(528,370)	13,696
Balance (in shares) at Mar. 31, 2022	[1]								6,583,501
Balance at Dec. 31, 2021		$ 65	[1]	$ 542,081	$ (527,961)	$ 14,185			$ 65	[1]	542,081	(528,054)	14,092
Balance (in shares) at Dec. 31, 2021	[1]	6,538,566							6,538,566
Increase (Decrease) in Stockholders' Equity
Net loss													(3,129)
Balance at Jun. 30, 2022									$ 67	[1]	543,249	(531,183)	12,133
Balance (in shares) at Jun. 30, 2022	[1]								6,723,501
Balance at Mar. 31, 2022									$ 66	[1]	542,000	(528,370)	13,696
Balance (in shares) at Mar. 31, 2022	[1]								6,583,501
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued and restricted stock awards granted (Note 16)											200		200
Stock compensation accrued and restricted stock awards granted (Note 16) (in shares)	[1]								20,000
Warrants exercised (Note 16)									$ 1	[1]	1,049		1,050
Warrants exercised (Note 16) (in shares)	[1]								120,000
Net loss												(2,813)	(2,813)
Balance at Jun. 30, 2022									$ 67	[1]	543,249	(531,183)	12,133
Balance (in shares) at Jun. 30, 2022	[1]								6,723,501
Balance at Dec. 31, 2022									$ 68	[1]	544,372	(537,960)	6,480
Balance (in shares) at Dec. 31, 2022	[1]								6,836,735
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued (Note 16)											189		189
Shares issued under the at-the-market offering agreement, net (Note 16)									$ 1	[1]	677		678
Shares issued under the at-the-market offering agreement, net (Note 16) (in shares)	[1]								109,999
Net loss												(3,266)	(3,266)
Balance at Mar. 31, 2023									$ 69	[1]	545,238	(541,226)	4,081
Balance (in shares) at Mar. 31, 2023	[1]								6,946,734
Balance at Dec. 31, 2022									$ 68	[1]	544,372	(537,960)	6,480
Balance (in shares) at Dec. 31, 2022	[1]								6,836,735
Increase (Decrease) in Stockholders' Equity
Net loss													(4,754)
Balance at Jun. 30, 2023									$ 79	[1]	548,243	(542,714)	5,608
Balance (in shares) at Jun. 30, 2023	[1]								7,935,665
Balance at Mar. 31, 2023									$ 69	[1]	545,238	(541,226)	4,081
Balance (in shares) at Mar. 31, 2023	[1]								6,946,734
Increase (Decrease) in Stockholders' Equity
Stock compensation accrued (Note 16)											43		43
Shares issued under the at-the-market offering agreement, net (Note 16)									$ 2	[1]	1,115		1,117
Shares issued under the at-the-market offering agreement, net (Note 16) (in shares)	[1]								198,931
Offering and private placement transaction (Note 16)									$ 8	[1]	1,847		1,855
Offering and private placement transaction (Note 16) (in shares)	[1]								790,000
Net loss												(1,488)	(1,488)
Balance at Jun. 30, 2023									$ 79	[1]	$ 548,243	$ (542,714)	$ 5,608
Balance (in shares) at Jun. 30, 2023	[1]								7,935,665
[1] (1) Reflects the one-for- 25 reverse stock split that became effective June 9, 2023. Refer to Note 1, “Basis of Preparation of Financial Statements and Nature of Operations.”

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical)	Jun. 09, 2023
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Reverse stock split	0.04

Basis of Preparation of Financi

Basis of Preparation of Financial Statements and Nature of Operations	6 Months Ended
	Jun. 30, 2023
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 ature of Operations ​ Golden Minerals Company (the “Company”, “we” “our” or “us”), 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 may have been reclassified to conform to current classifications. Interim results are not necessarily indicative of results for a full year; accordingly, these interim condensed consolidated 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, 2022, and filed with the SEC on March 22, 2023 the “2022 Annual Report”). ​ The Company is a mining company, holding a 100% interest in the Rodeo property in Durango State, Mexico (the “Rodeo Property”), a 100% interest in 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 property in the province of Salta, Argentina, which is subject to the terms of the “Earn-in Agreement” (see Note 9), and a diversified portfolio of precious metals and other mineral exploration properties located primarily in or near historical precious metals producing regions of Mexico, Argentina and Nevada. The Rodeo Property, the Velardeña Properties, the Yoquivo property and the El Quevar advanced exploration property are the Company’s only material properties. ​ We concluded mining operations at the Rodeo Property in June 2023, and we are engaged in planning for a restart of the Velardeña mine. We continue to evaluate and search for mining opportunities in North America (including Mexico) with near-term prospects of mining, and particularly for properties within reasonable haulage distances of our Velardeña Properties. We are also focused on advancing our Yoquivo exploration property in Mexico, and through the Earn-In Agreement with Barrick, our El Quevar advanced exploration property in Argentina. We are advancing additional selected properties in our portfolio of approximately 12 properties, located in Mexico, Nevada and Argentina. We are reviewing strategic opportunities, focusing primarily on development or operating properties in North America, including Mexico. ​ The Company is considered an exploration stage issuer under the criteria set forth by the SEC under Subpart 1300 of Regulation S-K (“S-K 1300”) as the Company has not yet demonstrated the existence of mineral reserves at any of the Company’s properties. As a result, and in accordance with GAAP for exploration stage companies, all expenditures for exploration and evaluation of the Company’s properties are expensed as incurred. As such, the Company’s financial statements may not be comparable to the financial statements of mining companies that have proven and probable mineral reserves. Such companies would typically capitalize certain development costs including infrastructure development and mining activities to access the ore. The capitalized costs would be amortized on a units-of-production basis as reserves are mined. The amortized costs are typically allocated to inventory and eventually to cost of sales as the inventories are sold. As the Company does not have proven and probable mineral reserves, substantially all expenditures at the Company’s Rodeo Property and the Velardeña Properties for mine construction activity, as well as operating costs associated with the mill facilities, and for items that do not have a readily identifiable market value apart from the mineralized material, have been expensed as incurred. Such costs are charged to cost of metals sold or project expense during the period depending on the nature of the costs. Certain costs may be reflected in inventories prior to the sale of the product. The Company cannot be certain that any deposits at any of its properties will ever be confirmed or converted into S-K 1300 compliant “reserves.” ​ Reverse Stock Split ​ On May 26, 2023, the Company’s Board of Directors approved a reverse stock split (the “Reverse Stock Split”) of the common stock, par value $0.01 per share, of the Company at a ratio of one-for- 25 Shares Reduction, the Company filed an amendment to the Company’s Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware on May 30, 2023. ​ As a result of the Reverse Stock Split, each 25 ​ In addition, proportionate adjustments were made to the number of shares issuable upon the exercise or vesting of all outstanding warrants and restricted stock units, resulting in a proportional decrease in the number of shares of common stock reserved for issuance upon exercise or vesting of such warrants and restricted stock units and the number of shares of common stock then reserved for issuance under the Company’s equity compensation plans, including the Company’s 2023 Equity Incentive Plan, which was reduced proportionately. ​ Accordingly, all share and per share data (including share and per share information related to share-based compensation and outstanding warrants), number of shares outstanding and other common stock equivalents for the periods presented in the accompanying interim condensed consolidated financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect the Reverse Stock Split.

Liquidity, Capital Resources an

Liquidity, Capital Resources and Going Concern	6 Months Ended
	Jun. 30, 2023
Liquidity, Capital Resources and Going Concern
Liquidity, Capital Resources and Going Concern	2. Liquidity, Capital Resources and Going Concern ​ At June 30, 2023, we had current assets of $8.6 million, including cash and cash equivalents of approximately $3.4 million. On the same date, we had accounts payable and other current liabilities of $5.4 million. (At July 31, 2023, our aggregate cash and cash equivalents totaled approximately $2.8 million.) Because we have ceased mining at the Rodeo mine, our only near-term opportunity to generate cash flow from mining to support continued operations is the Velardeña mine. Without additional near-term capital, which we are currently attempting to obtain, we will be forced to liquidate the Company’s business, potentially before the fourth quarter of 2023. ​ We are evaluating numerous alternatives for this additional capital. We are engaged in several discussions for the sale of assets. We have also held discussions with various financing parties with regard to equity and/or debt financing as well as streaming or royalty arrangements involving future production at Velardeña. And we are evaluating potential avenues to monetize some or all of our $2.9 million VAT receivable in Mexico. ​ We do not currently have sufficient resources to meet our expected cash needs during the twelve months ended June 30, 2024. At June 30, 2023, we had cash resources of approximately $3.4 million. The forecasted net operating margin from the Rodeo Property during the twelve-month period is expected to be between zero and negative $0.5 million as the mining operations have concluded and we are processing material from the stockpiles. There is no assurance that we will be successful in generating the anticipated operating margins described above. Specifically, the anticipated net operating margin from the Velardeña Properties is not based on the results of a full feasibility study. While we believe our internal estimates are realistic, the lack of a full feasibility study may increase the uncertainty associated with our estimates. In addition, we expect to collect approximately $1.5 million in value added tax “VAT” accounts receivable from the Mexican government; however, it is possible that those amounts may be delayed. At July 31, 2023, our aggregate cash and cash equivalents totaled approximately $2.8 million. In order to cover forecasted expenditures, we need to raise additional cash in the near term, whether through the sale of non-core assets or equity financing, including the use of our ATM program. In the absence of sufficient asset sales, equity financing or other funding sources, combined of between $3 million and $6 million, the Company’s cash balance is expected to be depleted during the third quarter of 2023. In that event, the Company may be forced to liquidate its business. ​ The consolidated financial statements have been prepared on a going concern basis under which an entity is considered to be able to realize its assets and satisfy its liabilities in the normal course of business. However, as noted above, our continuing long-term operations will be dependent upon our ability to secure sufficient funding to generate future profitable operations. The underlying value and recoverability of the amounts shown as property, plant and equipment in our consolidated financial statements are dependent on our ability to continue to generate positive cash flows from operations and to continue to fund exploration activities that would lead to additional profitable mining and processing activities or to generate proceeds from the disposition of property, plant and equipment. ​ The ability of the Company to maintain a positive cash balance for a period of twelve months beyond the filing date of this Quarterly Report on Form 10-Q is dependent upon its ability to generate sufficient cash flow from operations, collect VAT accounts receivable from the Mexican government, reduce expenses, sell non-core assets, and raise sufficient funds through the ATM program and other equity or external sources. In the absence of these events occurring the Company’s cash balance is expected to be depleted during the third quarter 2023. These material uncertainties cast significant doubt on the Company’s ability to continue as a going concern. Therefore, the Company cannot conclude that substantial doubt does not exist as to the Company’s ability to continue as a going concern for the twelve months following the filing date of this Quarterly Report on Form 10-Q. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets or liabilities which might be necessary should the Company not continue as a going concern.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2023
New Accounting Pronouncements
New Accounting Pronouncements	3. New Accounting Pronouncements ​ There were no new accounting pronouncements issued during 2023 that would affect the Company or have a material impact on its consolidated financial position or results of operations.

Correction of Immaterial Error

Correction of Immaterial Error	6 Months Ended
	Jun. 30, 2023
Correction of Immaterial Error
Correction of Immaterial Error	4. Correction of Immaterial Error ​ In the first quarter of 2022, the Company became aware that at December 31, 2021, it had failed to properly record a royalty tax payable in Mexico related to its Rodeo operations. The effect of correcting this error was to reduce beginning retained earnings by $93,000 at January 1, 2022, as 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 while the accumulation of the error was significant to the three months ended March 31, 2022, the correction would not be material to results of operations for the period ended December 31, 2021, nor did it have an effect on the trend of financial results, taking into account the requirements of SEC Staff Accounting Bulletin No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements (“SAB 108”).

Cash and Cash Equivalents and I

Cash and Cash Equivalents and Investments	6 Months Ended
	Jun. 30, 2023
Cash and Cash Equivalents and Investments
Cash and Cash Equivalents and Investments	5. Cash and Cash Equivalents and Investments ​ Cash and Cash Equivalents ​ Of the $3.4 million reported as “Cash and cash equivalents” on the Condensed Consolidated Balance Sheet at June 30, 2023, the Company had approximately $153,000 that was unavailable for use due to a court order freezing the bank accounts of one of the Company’s subsidiaries in Mexico related to a lawsuit, as further described in Note 20. The restrictions imposed on the subsidiary’s bank accounts do not impact the Company’s ability to operate the Rodeo mine, which is held through a different Mexico subsidiary, or to continue with the Company’s plans for a Velardeña mine restart or move forward with any of the Company’s other exploration programs in Mexico. ​ The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. ​ Short-Term Investments ​ 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. ​ The following tables summarize the Company’s short-term investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Carrying June 30, 2023 ​ Cost ​ Fair Value ​ Value ​ ​ ​ (in ​ Short-term investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trading securities ​ $ 59 ​ $ 11 ​ $ 11 ​ Total trading securities ​ 59 ​ 11 ​ 11 ​ Total short-term investments ​ $ 59 ​ $ 11 ​ $ 11 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trading securities ​ $ 59 ​ $ 20 ​ $ 20 ​ Total trading securities ​ 59 ​ 20 ​ 20 ​ Total short-term investments ​ $ 59 ​ $ 20 ​ $ 20 ​ ​ Investment in Fabled ​ The short-term investments at June 30, 2023, and December 31, 2022 consist of 200,000 common shares of Fabled Silver Gold Corp. (“Fabled”) and 20,000 common shares of Fabled Copper Corp. Fabled is a junior mining company that entered into an option agreement with the Company to acquire the Company’s option to earn a 100% interest in the Santa Maria mining claims located in Chihuahua, Mexico (see Note 9). The common shares were issued to the Company as partial consideration per the terms of the option agreement. The Fabled Copper Corp. shares were received in a spin-off of assets from Fabled that occurred on December 21, 2020, to which all existing shareholders of Fabled were entitled. ​ Long-Term Investments ​ Investments in equity securities are generally measured at fair value. Gains and losses for equity securities resulting from changes in fair value are recognized in current earnings. If an equity security does not have a readily determinable fair value, the Company may elect to measure the security at its cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment in the same issuer. At the end of each reporting period, the Company reassesses whether an equity investment security without a readily determinable fair value qualifies to be measured at cost less impairment, considers whether impairment indicators exist to evaluate if an equity investment security is impaired and, if so, records an impairment loss. ​ Investment in Golden Gryphon Explorations Inc. ​ Long-term investments at June 30, 2023 consist of approximately 1,500,000 shares of Golden Gryphon Explorations Inc. (“GGE”). In 2019, the Company entered into an earn-in agreement with GGE for the Sand Canyon project located in northwestern Nevada. In August 2022, pursuant to the second amendment to the earn-in agreement by which the earn-in period was extended an additional year, the Company purchased approximately 1,500,000 shares of GGE’s common stock for an aggregate purchase price of $225,000. ​ For a description of the earn-in agreement with GGE, see “ Exploration Properties—Sand Canyon ​ The GGE investment is accounted for at cost less impairment pursuant to ASC topic 321 as there is no ready market for the shares and it is recorded as non-current investments on the Condensed Consolidated Balance Sheets. The Company concluded it was impractical to estimate fair value due to the absence of a public market for the stock. The Company identified no events or changes in circumstances that might have had a significant adverse effect on the carrying value of the investment and have therefore not recorded any impairment against the asset. ​ 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 no less than $1 billion and are members in good standing with the Securities Investor Protection Corporation.

Prepaid Expenses and Other Asse

Prepaid Expenses and Other Assets	6 Months Ended
	Jun. 30, 2023
Prepaid Expenses and Other Assets
Prepaid Expenses and Other Assets	6. Prepaid Expenses and Other Assets ​ Prepaid expenses and other current assets consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2023 2022 ​ ​ ​ (in thousands) Prepaid insurance ​ $ 453 ​ $ 488 ​ Current portion of deferred offering costs ​ ​ — ​ ​ 45 ​ Recoupable deposits and other ​ 581 ​ 609 ​ ​ ​ $ 1,034 ​ $ 1,142 ​ ​ The current portion of deferred offering costs is associated with the ATM Agreement (see Note 16). ​ Recoupable deposits and other at June 30, 2023 and December 31, 2022 includes a receivable from Barrick for reimbursement of costs of approximately $50,000 and $74,000, respectively, related to the Earn-in Agreement (see Note 9).

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventories
Inventories	7. Inventories ​ ​ Inventories at the Velardeña Properties were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 2022 ​ ​ (in thousands) ​ Doré inventory ​ $ 443 ​ $ 230 ​ In-process inventory ​ 406 ​ 572 ​ Material and supplies ​ ​ 426 ​ ​ 569 ​ ​ ​ $ 1,275 ​ $ 1,371 ​ ​ Doré and in-process inventories, recorded at book value, include approximately $21,000 and $28,000 of capitalized depreciation and amortization at June 30, 2023 and December 31, 2022, respectively. Doré inventory at June 30, 2023 consists of 227 payable ounces of gold and 815 payable ounces of silver. Doré inventory at December 31, 2022 consists of 157 payable ounces of gold and 652 payable ounces of silver. ​ The materials and supplies inventories are primarily related to the Velardeña operation and are reduced by a $0.3 million obsolescence reserve at June 30, 2023 and December 31, 2022.

Value Added Tax Receivable, Net

Value Added Tax Receivable, Net	6 Months Ended
	Jun. 30, 2023
Value Added Tax Receivable, Net
Value Added Tax Receivable, Net	8. Value Added Tax Receivable, Net ​ At June 30, 2023, the Company recorded a net VAT paid in Mexico of $2.9 million related to the Velardeña Properties and the Rodeo operation, as a recoverable asset, which appears in “Value added tax receivable, net” on the Condensed Consolidated Balance Sheets. Mexico law allows for certain VAT payments to be recovered through ongoing applications for refunds. The Company expects that the current amounts receivable will be recovered within a one-year period. At June 30, 2023, the Company recorded approximately $950,000 of VAT payable as a reduction to the VAT receivable in Mexico. At December 31, 2022, the Company had recorded approximately $1.5 million of VAT receivable. ​ The Company has also paid VAT in 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	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment, Net
Property, Plant and Equipment, Net	9. Property, Plant and Equipment, Net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2023 2022 ​ ​ (in thousands) Mineral properties ​ $ 9,353 ​ $ 9,353 ​ Exploration properties ​ ​ 2,418 ​ ​ 2,418 ​ Royalty properties ​ 200 ​ 200 ​ Buildings ​ 3,808 ​ 3,808 ​ Mining equipment and machinery ​ 17,068 ​ 17,127 ​ Other furniture and equipment ​ 1,377 ​ 1,355 ​ Asset retirement cost ​ 1,157 ​ 1,157 ​ ​ ​ 35,381 ​ 35,418 ​ Less: Accumulated depreciation and amortization ​ (29,227) ​ (29,002) ​ ​ ​ $ 6,154 ​ $ 6,416 ​ ​ For the six months ended June 30, 2023 and 2022, the Company recognized approximately $232,000 and $152,000, respectively, of depreciation and amortization expense. ​ For the three months ended June 30, 2023 and 2022, the Company recognized approximately $133,000 and $87,000, respectively, of depreciation and amortization expense. ​ El Quevar Earn-In Agreement ​ On April 9, 2020, we entered into an earn-in agreement with Barrick (the “Earn-In Agreement”), pursuant to which Barrick has acquired an option to earn a 70% interest in the Company’s El Quevar project located in the Salta Province of Argentina. As of December 31, 2021, Barrick had met the $1 million in work expenditures that would permit them to withdraw from the Earn-in Agreement. At June 30, 2023, Barrick has continued with exploration activities, per the terms of the Earn-in Agreement, at the Company’s El Quevar project located in the Salta Province of Argentina. ​ Sale of Santa Maria Property ​ On December 4, 2020, the Company and Fabled entered into an option agreement (the “Option Agreement”) under which Fabled would have acquired a 100% interest in the Santa Maria property by paying $4.5 million in cash over a period of several years. The Company recorded a $1.5 million payment it received from Fabled in December 2021 to “ Deferred revenue ​ On December 19, 2022, the Option Agreement was amended to reschedule the remaining $2.0 million payment into eight quarterly payments of $250,000 from January 31, 2023 through September 30, 2024. Fabled failed to make the payment due on January 31, 2023. In February 2023, the Company issued a notice of default under the Option Agreement to Fabled and the property has reverted to the Company as allowed under the terms of the Agreement. The carrying value of Santa Maria as of June 30, 2023, and December 31, 2022, is zero.

Other Long-Term Assets

Other Long-Term Assets	6 Months Ended
	Jun. 30, 2023
Other Long-Term Assets
Other Long-Term Assets	10. Other Long-Term Assets ​ Other long-term assets consist of right of use assets and, at June 30, 2023 include approximately $184,000 related to certain office leases. The right of use assets at December 31, 2022 include approximately $263,000 related to certain office leases and $70,000 related to a mining equipment lease at our Rodeo Property. ​ In December 2020, the Company’s wholly owned subsidiary, Minera de Cordilleras S. de R.L. de C.V., entered into an agreement with Triturados del Guadiana, S.A. de C.V. (“Trigusa”), whereby Trigusa has carried out mining activities at the Rodeo Property. Per the terms of the mining agreement, Trigusa provided services for the 27-month period beginning in December 2020 and ended on March 31, 2023. The Company determined that the mining agreement contained an embedded lease, relating to the mining equipment provided by Trigusa, per the guidance of ASU 2016-02 and Topic 842. The Company did not elect the practical expedient permitting the combination of lease and non-lease components of the mining agreement. The Company recorded a right of use asset and a lease liability ​ Lease liabilities are included in “Other liabilities,” short term and long term (see Note 13), in the Company’s Condensed Consolidated Balance Sheets at June 30, 2023 and December 31, 2022.

Accounts Payable and Other Accr

Accounts Payable and Other Accrued Liabilities	6 Months Ended
	Jun. 30, 2023
Accounts Payable and Other Accrued Liabilities
Accounts Payable and Other Accrued Liabilities	11. Accounts Payable and Other Accrued Liabilities ​ The Company’s accounts payable and other accrued liabilities consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Accounts payable and accruals ​ $ 3,268 ​ $ 2,213 ​ Accrued employee compensation and benefits ​ ​ 1,654 ​ ​ 1,478 ​ Income taxes payable (Note 15) ​ 26 ​ 25 ​ ​ ​ $ 4,948 ​ $ 3,716 ​ ​ June 30, 2023 ​ Accounts payable and accruals at June 30, 2023, are primarily related to amounts due to contractors and suppliers in the amounts of $2.2 million related to the Company’s Velardeña Properties and the Rodeo Property and $1.1 million related to corporate administrative and exploration activities. ​ Accrued employee compensation and benefits at June 30, 2023, consist of $0.5 million of accrued vacation payable and $1.2 million related to withholding taxes and benefits payable. Included in the $1.7 million of accrued employee compensation and benefits is $1.4 million related to activities at the Velardeña Properties and the Rodeo Property. ​ December 31, 2022 ​ Accounts payable and accruals at December 31, 2022, are primarily related to amounts due to contractors and suppliers in the amounts of $1.8 million related to the Company’s Velardeña Properties and the Rodeo Property and $0.4 million related to corporate administrative and exploration activities. ​ Accrued employee compensation and benefits at December 31, 2022, consist of $0.4 million of accrued vacation payable and $1.1 million related to withholding taxes and benefits payable. Included in the $1.5 million of accrued employee compensation and benefits is $1.2 million related to activities at the Velardeña Properties and the Rodeo Property.

Asset Retirement and Reclamatio

Asset Retirement and Reclamation Liabilities	6 Months Ended
	Jun. 30, 2023
Asset Retirement and Reclamation Liabilities
Asset Retirement and Reclamation Liabilities	12. Asset Retirement and Reclamation Liabilities ​ In 2012, the Company retained the services of a mining engineering firm to prepare a detailed closure plan for reclamation activity at the Velardeña Properties. The plan was completed during the second quarter of 2012 and indicated that the Company had an asset retirement obligation (“ARO”) and offsetting asset retirement cost (“ARC”) of approximately $1.9 million. The original ARC had been fully amortized or written off by the end of December 31, 2015. The ARO has been adjusted since 2012 for changes in assumptions related to inflation factors and the timing of future expenditures used in the determination of future cash flows, which previously contemplated that reclamation activities could begin as early as 2023 following the completion of mining at the Rodeo Property. ​ In the fourth quarter of 2021, due to the operating success at Rodeo and the potential of a restart of operations at the Velardeña mine based on recent technical studies at the time and an updated preliminary economic assessment (“PEA”) that would further delay the start of any reclamation activity, the Company retained the services of an environmental consultant to review the closure plan to determine the appropriateness of the scope and cost estimates used in the calculation of the ARO. The consultant confirmed the adequacy of the scope of the closure plan and provided certain adjustments to cost estimates. In addition, the timing for the incurrence of reclamation activity was extended approximately seven years to 2030 to take into account the likelihood of a restart of operations at the Velardeña mine that would further delay the start of any reclamation activity. ​ In late 2022, the Company determined that the restart of the Velardeña Properties would be deferred one year, which would in turn defer the beginning of the reclamation activity assumption by one year to 2031. ​ The Company will continue to accrue additional estimated ARO amounts based on the closure plan and as activities requiring future reclamation and remediation occur. ​ The following table presents the asset retirement and reclamation liabilities as of June 30, 2023 and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 2022 ​ ​ (in thousands) Current asset retirement and reclamation liabilities ​ $ — ​ $ — Non-current asset retirement and reclamation liabilities ​ 4,126 ​ 3,993 ​ ​ $ 4,126 ​ $ 3,993 ​ The following table presents the changes in the Company’s asset retirement and reclamation liabilities for the six months ended June 30, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, ​ 2023 2022 ​ ​ (in thousands) Balance at January 1, ​ $ 3,993 ​ $ 3,569 Changes in estimates, and other ​ (15) ​ 30 Accretion expense ​ 148 ​ 140 Balance at June 30, ​ $ 4,126 ​ $ 3,739 ​ The change in estimate of the ARO recorded is due to a combination of changes in assumptions related to the timing of future expenditures, the change in inflation assumptions, and the change in the discount rate.

Other Liabilities

Other Liabilities	6 Months Ended
	Jun. 30, 2023
Other Liabilities
Other Liabilities	13. Other Liabilities ​ Other Current Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 ​ 2022 ​ ​ (in thousands) Premium financing ​ $ 300 ​ $ 406 Office lease liability ​ 141 ​ 164 Mining equipment lease liability ​ ​ — ​ ​ 63 ​ ​ $ 441 ​ $ 633 ​ The premium financing at June 30, 2023 and December 31, 2022, 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 November 2022, the Company financed approximately $445,000 of its directors and officers insurance premium which is payable in eleven equal payments at an interest rate of 7.0% per annum. In May 2023, the Company financed approximately $147,000 of its general liability insurance premium which is payable in eleven equal payments at an interest rate of 8.3% per annum. ​ 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 10). ​ The mining equipment lease liability is related to equipment used by the contract miner at our Rodeo Property (see Note 10). ​ Other Long-Term Liabilities ​ Other long-term liabilities of approximately $69,000 for the period ended June 30, 2023, are primarily related to lease liabilities for office space at the Company’s principal headquarters in Golden, Colorado and in Mexico and Argentina (see Note 10). ​ Other long-term liabilities of approximately $122,000 for the period ended December 31, 2022, are primarily related to lease liabilities for office space at the Company’s principal headquarters in Golden, Colorado and in Mexico and Argentina (see Note 10).

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Measurements
Fair Value Measurements	14. Fair Value Measurements ​ Financial assets and liabilities and nonfinancial assets and liabilities are measured at fair value on a recurring basis 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 Topic 820 are as follows: ​ Level 1: ​ Level 2: ​ Level 3: ​ The following table summarizes the Company’s financial assets and liabilities measured on a recurring basis at fair value by respective level of the fair value hierarchy: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 Level 2 Level 3 Total ​ ​ (in thousands) At June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 3,393 ​ $ — ​ $ — ​ $ 3,393 ​ Short-term investments ​ 11 ​ — ​ — ​ 11 ​ ​ ​ $ 3,404 ​ $ — ​ $ — ​ $ 3,404 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 3,972 ​ $ — ​ $ — ​ $ 3,972 ​ Short-term investments ​ 20 ​ — ​ — ​ 20 ​ ​ ​ $ 3,992 ​ $ — ​ $ — ​ $ 3,992 ​ ​ The Company’s cash equivalents, comprised principally of U.S. treasury securities, are classified within Level 1 of the fair value hierarchy. ​ The Company’s short-term investments consist of 200,000 shares of common stock of Fabled and 20,000 shares of Fabled Copper Corp. and are classified within Level 1 of the fair value hierarchy (see Note 5). ​ At June 30, 2023 and December 31, 2022, the Company did not have any financial assets or liabilities classified within Level 2 or Level 3 of the fair value hierarchy. ​ Non-recurring Fair Value Measurements ​ The Company recorded a change in estimate to its ARO as of June 30, 2023, of approximately $15,000 (see Note 12), reflecting a change in the fair value of the ARO primarily as the result of changes in assumptions related to the amount and timing of future expenditures used in the determination of future cash flows, following the guidance of ASC Topic 410. The fair value analysis was performed internally by the Company. The valuation falls within Level 3 of the fair value hierarchy. ​ No other non-recurring fair value adjustments to liabilities or long-lived assets were recorded during the six months ended June 30, 2023 and 2022.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Taxes
Income Taxes	15. Income Taxes ​ The Company accounts for income taxes in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC 740”), on a tax jurisdictional basis. In accordance with ASC 740, the interim provision for taxes was calculated by using the estimated annual effective tax rate applied to the year-to-date income or losses on a jurisdictional basis. Although the Company has generated ordinary losses on a year-to-date basis, the Company has projected taxable income by year end in certain tax jurisdictions, for which an annual effective tax rate has been calculated. For the six months ended June 30, 2023, the Company recognized less than $1,000 of income tax expense. ​ 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 June 30, 2023 and December 31, 2022, the Company had no deferred tax assets and no deferred tax liability on the Condensed Consolidated Balance Sheets due to a valuation allowance offsetting the net deferred tax assets of the Company. ​ 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 June 30, 2023 or December 31, 2022.

Equity

Equity	6 Months Ended
	Jun. 30, 2023
Equity
Equity	16. Equity ​ On May 26, 2023, the Company’s Board of Directors approved a reverse stock split of the common stock, par value $0.01 per share, of the Company at a ratio of one-for -25 ​ Offering and Private Placement Transaction ​ On June 26, 2023, the Company entered into a Securities Purchase Agreement with certain institutional investors (the “Securities Purchase Agreement”) providing for the issuance and sale by the Company in a registered direct offering (the “Offering”) of an aggregate of 790,000 shares of the Company’s common stock at a purchase price of $1.45 per share and pre-funded warrants exercisable for up to 637,587 shares of Common Stock (the “Pre-Funded Warrants”) at a purchase price of $1.4499 per Pre-Funded Warrant. ​ The Pre-Funded Warrants were sold, in lieu of shares of Common Stock, to such institutional investors whose purchase of shares of Common Stock in the Offering would otherwise result in such institutional investors, together with their respective affiliates and certain related parties, beneficially owning more than 9.99% of the Company’s outstanding Common Stock immediately following the consummation of the Offering. Each Pre-Funded Warrant represents the right to purchase one share of Common Stock at an exercise price of $0.0001 per share. The Pre-Funded Warrants are exercisable immediately and may be exercised at any time until the Pre-Funded Warrants are exercised in full. ​ In a concurrent private placement (the “Private Placement” and, together with the Offering, the “Transactions”), the Company agreed to issue warrants to purchase up to 1,427,587 shares of Common Stock at an exercise price of $1.90 (the “Common Warrants”). Each Common Warrant is exercisable six months from the date of issuance and has a term expiring five years after such initial exercise date. The aggregate gross proceeds from the Transactions were approximately $2.1 million, before deducting fees and offering expenses. ​ 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 $215,000, including listing fees, legal and other costs, and the placement agent fee of 6% of aggregate gross proceeds. All such costs were recorded as a reduction to “Additional paid in capital” on the Condensed Consolidated Balance Sheets. ​ 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 September 29, 2017, the Company entered into an amendment to the ATM Agreement with Wainwright to reflect a new registration statement on Form S-3 (File No. 333-220461) under which shares of the Company’s common stock may be sold under the ATM Program. On November 23, 2018, the Company entered into a second amendment of the 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. On December 11, 2020, the Company entered into a third amendment of the ATM Agreement further extending the agreement so that it will remain in full force and effect until such time as the ATM Agreement is terminated in accordance with certain other terms therein or upon mutual agreement by the parties, and to reflect a new registration statement on Form S-3 (No. 333-249218). On March 29, 2023, the Company filed a Prospectus Supplement increasing the total amount available to be sold under the ATM to $10.0 million in addition to the amounts previously sold. On May 28, 2023, the Company filed another Prospectus Supplement decreasing the total amount available to be sold under the ATM to $3.0 million, not including the amounts previously sold. ​ Under the ATM, the common stock is 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 between purchasers and during the period of distribution. Further, on March 29, 2023, the Company entered into a fourth amendment of the ATM Agreement which provides that Wainwright will be entitled to compensation for its services at a commission rate of up to 3.0% of the gross sales price per share of common stock sold under the ATM Agreement. ​ During the six months ended June 30, 2023, the Company sold an aggregate of 308,930 shares of common stock under the ATM Program at an average price of $6.19 per share of common stock for net proceeds, after commissions and fees, of approximately $1,839,000. Approximately $45,000 of deferred ATM Program costs were amortized during the quarter, and at June 30, 2023, the remaining balance of the deferred ATM Program costs, recorded in “Prepaid expenses and other assets” on the Consolidated Balance Sheet (see Note 6), is zero. ​ During the six months ended June 30, 2022, the Company did not sell shares of common stock under the ATM Program. At June 30, 2022, there was a remaining balance of $45,000 of deferred ATM Program costs, recorded in “Prepaid expenses and other assets” on the Condensed Consolidated Balance Sheets. ​ As of June 30, 2023, there is approximately $3.0 million remaining available for issuance under the ATM Program based on a prospectus supplement filed with SEC on June 28, 2023. ​ Equity Incentive Plans ​ Under the Company’s Amended and Restated 2009 Equity Incentive Plan (the “2009 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. ​ On May 26, 2023, the stockholders of the Company voted to approve the Company’s 2023 Equity Incentive Plan (the “2023 Plan”) to replace the 2009 Plan. Under the 2023 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 2023 Plan provides for, among other things, (i) a reserve of 360,000 shares (on a reverse stock split-adjusted basis) of common stock of the Company that may be issued pursuant to awards under the 2023 Plan and (ii) a term that expires on February 23, 2033. Permitted awards under the 2023 Plan include options, stock appreciation rights, restricted stock, restricted stock units, performance stock units, and other cash and stock-based awards. The principal terms of the 2023 Plan are described in the Company’s definitive proxy statement for the Annual Meeting of the Company’s stockholders, filed with the SEC on April 6, 2023. 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 Company did not issue any equity awards under the 2023 Plan during the period ended June 30, 2023. ​ Restricted Stock Grants ​ The following table summarizes the status and activity of the Company’s restricted stock grants issued under the 2009 Equity Plan at June 30, 2023, and the changes during the six months then ended: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ ​ Grant Date ​ ​ Number of ​ Fair Value Restricted Stock Grants ​ Shares ​ Per Share Outstanding at beginning of period ​ 19,800 ​ $ 10.95 ​ Granted during the period — ​ — ​ Restrictions lifted during the period (11,667) ​ 12.43 ​ Forfeited during the period — ​ — ​ Outstanding at end of period ​ 8,133 ​ $ 8.83 ​ ​ As of June 30, 2023, no restricted stock grants had been made under the 2023 Plan. ​ For the six months ended June 30, 2023 and 2022, the Company recognized approximately $56,000 and $125,000, respectively, of stock compensation expense related to the restricted stock grants. ​ For the three months ended June 30, 2023 and 2022, the Company recognized approximately $23,000 and $99,000, respectively, of stock compensation expense related to the restricted stock grants. ​ Restricted Stock Units ​ The 2009 Plan permitted the Company to issue Restricted Stock Units (“RSUs”), which entitle each recipient to receive one unrestricted share of common stock upon termination of the recipient’s employment or board service. Also, pursuant to the 2009 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, non-employee directors, and employees as allowed by the 2009 Plan, receive a portion of their compensation in the form of RSUs issued under the 2009 Plan. The RSUs generally vest on the first anniversary of the grant. ​ The 2023 Plan permits the Company to issue RSUs, which entitle each recipient to receive one unrestricted share of common stock upon termination of the recipient’s employment or board service. ​ The following table summarizes the status of the RSU grants issued to Directors of the Company under the 2009 Plan, including awards to nonemployee directors under the Deferred Compensation Plan, at June 30, 2023, and the changes during the six months then ended: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ ​ Grant Date ​ ​ Number of ​ Fair Value Restricted Stock Units ​ Shares ​ Per Share Outstanding at beginning of period ​ 232,409 ​ $ 15.06 Granted during the period — ​ — Restrictions lifted during the period — ​ — Forfeited during the period — ​ — Outstanding at end of period ​ 232,409 ​ $ 15.06 ​ As of June 30, 2023, no RSU grants had been made under the 2023 Plan. ​ For the six months ended June 30, 2023 and 2022, the Company recognized approximately $212,000 and $127,000, respectively, of stock compensation expense related to the restricted stock units. ​ For the three months ended June 30, 2023 and 2022, the Company recognized approximately $95,000 and $73,000, respectively, of stock compensation expense related to the restricted stock units. ​ Key Employee Long-Term Incentive Plan ​ The Company’s 2013 Key Employee Long-Term Incentive Plan (the “KELTIP”) provided 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 2009 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. ​ The Company intends to settle all the KELTIP Units 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 2009 Plan. As a result, all outstanding KELTIP Units are recorded in equity at June 30, 2023 and December 31, 2022. ​ For the three and six months ended June 30, 2023, the Company recognized approximately $75,000 and $36,000, respectively, of stock compensation income related to the grants due to KELTIP Units being forfeited upon departure of an officer of the Company. There were 168,000 and 188,000 KELTIP Units outstanding at June 30, 2023 and December 31, 2022, respectively. However, under the 2023 Plan the Company discontinued the KELTIP and will no longer issue KELTIP Units. ​ For the three and six months ended June 30, 2022, the Company recognized approximately $28,000 and $97,000, respectively, of stock compensation expense related to the KELTIP units. ​ Common Stock Warrants ​ The following table summarizes the status of the Company’s common stock warrants at December 31, 2022, and June 30, 2023, and the changes during the six months then ended: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ Average ​ ​ ​ Underlying ​ Exercise Price ​ Common Stock Warrants ​ Shares ​ Per Share ​ Outstanding at December 31, 2022 ​ 392,155 ​ $ 8.58 ​ Granted during period ​ ​ ​ ​ June 2023 pre-funded warrants ​ 637,587 ​ ​ 0.0001 ​ June 2023 warrants ​ 1,427,587 ​ ​ 1.90 ​ Exercised during period ​ — ​ ​ — ​ Expired during period ​ — ​ ​ — ​ Outstanding at June 30, 2023 ​ 2,457,329 ​ $ 2.47 ​ ​ The warrants relate to prior registered offerings and private placements of the Company’s stock. ​ All outstanding warrants are recorded in equity at June 30, 2023 and December 31, 2022, following the guidance established by ASC Topic 815-40. The Company’s warrants allow for potential settlement in cash if certain extraordinary events are effected by the Company, including a 50% or greater change of control in the Company’s common stock. Since those events have been deemed to be within the Company’s control, the Company continues to apply equity treatment for these warrants.

Sale of Metals and Related Cost

Sale of Metals and Related Costs	6 Months Ended
	Jun. 30, 2023
Sale of Metals and Related Costs
Sale of Metals and Related Costs	17. Sale of Metals and Related Costs ​ Revenue from Gold and Silver in Doré ​ During the six months ended June 30, 2023, the Company recorded revenue of approximately $7.7 million and related costs of approximately $7.7 million related to gold and silver contained in doré bars related to the Rodeo operation. The gold and silver contained in the doré bars were sold to one customer, a metals refinery located in the United States. Under the terms of the Company’s agreement with its customer, title passes and revenue is recognized by the Company when the contractual performance obligations of the parties are completed, generally at the time a provisional or final payment is made. A provisional payment for approximately 95% of the contained gold and silver is made generally within 10 ​ During the six months ended June 30, 2022, the Company sold gold and silver contained in doré bars related to the Rodeo operation and recorded revenue of approximately $13.4 million and related costs of approximately $9.0 million. Costs related to the sale of metal products include direct and indirect costs incurred to mine, process and market the products. ​ Revenue from Concentrate Sales ​ In April 2023, the Company began to sell three different concentrates containing various amounts of gold, silver, lead and zinc produced from material processed from the Velardeña mine which had been stockpiled from test mining performed in 2022 as part of the studies undertaken in connection with the potential restart of the Velardeña Properties. The Company recorded revenue of $1.2 million from the combined sales of these concentrates and related costs of $0.2 million. The concentrate was sold to one customer, a metal trader in Mexico. Under the terms of the Company’s agreement with its customer, title passes and revenue is recognized by the Company when the contractual performance obligations of the parties are completed, generally at the time a provisional or final payment is made. A provisional payment for approximately 90% of the contained gold, silver, lead and zinc is made generally within 10-12 days after the product is shipped and customary sales documents are completed. A final payment is made within approximately 60 days following the date of shipment when final assays and refinery charges are agreed upon by the parties. A price for the gold and silver sold is set, based on average market prices, one month following the delivery of concentrate to the buyer. Refining and transport costs, deducted from the final payments made, are treated as third-party agent costs incurred by the Company in performing its obligations under the agreement with its customer after the transfer of control on provisional sales and are therefore netted against revenue on an accrual basis. ​ There were no concentrate sales during the six months ended June 30, 2022. ​ Revenue from Slag Sales ​ During the six months ended June 30, 2023, the Company recorded revenue of $0.3 million and related costs of zero related to the gold and silver contained in the slag from the Rodeo Property. The slag was sold to one customer, a metals refinery located in the United States. Under the terms of the Company’s agreement with its customer, title passes and revenue is recognized by the Company when the contractual performance obligations of the parties are completed which occurs at the time a final payment is made. Final payment is made 30 working days after the settlement of assays for 95% of the contained gold and 90% of the contained silver. The price for the gold and silver sold is set on the first trading day following the day of the settlement assay. Refining costs are deducted from the final payments made, are treated as third-party agent costs incurred by the Company in performing its obligations under the agreement with its customer and are therefore netted against revenue. ​ There were no slag sales during the six months ended June 30, 2022.

Interest and Other Income (Expe

Interest and Other Income (Expense), Net	6 Months Ended
	Jun. 30, 2023
Interest and Other Income (Expense), Net
Interest and Other Income (Expense), Net	18. Interest and Other Income (Expense), Net ​ For the three and six months ended June 30, 2023 and 2022, the Company recognized a nominal amount of Interest and other income (expense), net.

Cash Flow Information

Cash Flow Information	6 Months Ended
	Jun. 30, 2023
Cash Flow Information
Cash Flow Information	19. Cash Flow Information ​ The following table reconciles net loss for the period to cash used in operations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2023 2022 ​ ​ (in thousands) Cash flows (used in) from operating activities: ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (4,754) ​ $ (3,129) ​ Adjustments to reconcile net loss to net cash used in operating activities: ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ 232 ​ 152 ​ Accretion of asset retirement obligation ​ 148 ​ 140 ​ Loss on trading securities ​ 9 ​ 14 ​ Gain on sale of assets ​ (18) ​ (125) ​ Stock-based compensation ​ 232 ​ 349 ​ Changes in operating assets and liabilities from continuing operations: ​ ​ ​ ​ ​ ​ ​ Decrease (increase) in inventories, net ​ 123 ​ (153) ​ Increase in value added tax receivable, net ​ (1,451) ​ (381) ​ Decrease (increase) in prepaid expenses and other assets ​ 64 ​ (22) ​ Decrease in other long-term assets ​ 149 ​ 100 ​ Increase in accounts payable and other accrued liabilities ​ 1,232 ​ 588 ​ Decrease in deferred revenue ​ ​ — ​ ​ (750) ​ Decrease in other current liabilities ​ ​ (192) ​ ​ (280) ​ (Decrease) increase in reclamation liability ​ (15) ​ 30 ​ Decrease in other long-term liabilities ​ (53) ​ (165) ​ Net cash used in operating activities ​ $ (4,294) ​ $ (3,632) ​ ​ The following table sets forth supplemental cash flow information and non-cash transactions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2023 2022 ​ ​ (in thousands) Supplemental disclosure: ​ ​ ​ ​ ​ ​ ​ Interest paid ​ $ 12 ​ $ 5 ​ Income taxes paid ​ $ — ​ $ 413 ​ ​ ​ ​ ​ ​ ​ ​ ​ Supplemental disclosure of non-cash transactions: ​ ​ ​ ​ ​ ​ ​ Deferred equity offering costs amortized ​ $ 44 ​ $ — ​ ​

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies
Commitments and Contingencies	20. Commitments and Contingencies ​ During April 2021, the Company became aware of a lawsuit in Mexico against one of the Company’s Mexican subsidiaries, Minera William, S.A. de C.V. (“Minera William”). The plaintiff in the matter is Unifin Financiera, S.A.B de C.V. (“Unifin”). The lawsuit was assigned to the Fifth Specialized Commercial District Court. In November 2022, the Company was formally served with the complaint in connection with the lawsuit and in December 2022 the Company filed its answer to the complaint. Unifin is alleging that a representative of Minera William signed certain documents in July 2011 purporting to bind Minera William as a guarantor of payment obligations owed by a third party to Unifin in connection with that third party’s acquisition of certain drilling equipment. At the time the documentation was allegedly signed, Minera William was a subsidiary of ECU Silver Mining prior to the Company’s acquisition of ECU in September 2011. As a preemptive measure, Unifin has obtained a preliminary court order freezing Minera William’s bank accounts in Mexico, which has limited the Company’s and Minera William’s ability to access approximately US$153,000 according to current currency exchange rates. Notwithstanding this action, the restrictions imposed on Minera William’s bank accounts do not impact the Company’s ability to operate the Rodeo mine, which is held through a different Mexico subsidiary. Likewise, the action does not impact the Company’s ability to continue with the Company’s evaluation plans for a potential Velardeña mine restart or move forward with any of the Company’s other exploration programs in Mexico. However, because the Velardeña mine and one processing plant are held by Minera William, any adverse outcome to the action may have a material impact on our ability to restart production at Velardeña. Unifin is seeking recovery for as much as US$12.5 million. The Company believes there is no basis for this claim. As such, the Company has not accrued an amount for this matter in its Condensed Consolidated Balance Sheets or Statements of Operations as of June 30, 2023. A preliminary hearing was initially scheduled to take place in April 2023 but was rescheduled to June 2023. In June 2023 Minera William and Unifin agreed to settle the matter and the Court agreed to suspend trial to allow Minera William and Unifin to negotiate a settlement agreement. As of June 30, 2023, the terms and timing of the settlement are uncertain. ​ The Company also has certain purchase and lease commitments as set forth in the Company’s 2022 Annual Report.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2023
Segment Information
Segment Information	21. 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 on the Company’s revenue-producing activities and cash-consuming activities. The Company reports two segments, one for its revenue-producing activities in Mexico, which includes both the Velardeña Properties and the Rodeo Property, 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 June 30, 2023 Revenue to Sales Amortization Expense loss Total Assets Expenditures Mexico Operations ​ $ 4,973 ​ $ 3,832 ​ $ 129 ​ $ 978 ​ $ (29) ​ ​ ​ $ — ​ Corporate, Exploration and Other ​ ​ — ​ — ​ 4 ​ 1,612 ​ 1,568 ​ ​ ​ ​ ​ — ​ Consolidated $ 4,973 $ 3,832 $ 133 $ 2,590 $ 1,539 ​ ​ ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexico Operations $ 9,190 ​ $ 7,878 ​ $ 223 ​ $ 2,154 ​ $ 1,145 ​ $ 8,821 $ — ​ Corporate, Exploration and Other ​ ​ — ​ ​ — ​ ​ 9 ​ ​ 3,504 ​ ​ 3,609 ​ 6,371 ​ ​ — ​ Consolidated $ 9,190 $ 7,878 $ 232 $ 5,658 $ 4,754 $ 15,192 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexico Operations $ 5,926 ​ $ 4,639 ​ $ 74 ​ $ 2,118 ​ $ 600 ​ ​ ​ $ 3 ​ Corporate, Exploration and Other ​ ​ — ​ ​ — ​ ​ 13 ​ ​ 2,268 ​ ​ 2,342 ​ ​ ​ ​ ​ — ​ Consolidated $ 5,926 $ 4,639 $ 87 $ 4,386 $ 2,942 ​ ​ ​ $ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexico Operations $ 13,432 ​ $ 8,961 ​ $ 127 ​ $ 3,937 ​ $ (1,083) ​ $ 9,291 $ 26 ​ Corporate, Exploration and Other ​ ​ — ​ — ​ 25 ​ 4,040 ​ 4,256 ​ 12,027 ​ ​ 1 ​ Consolidated $ 13,432 $ 8,961 $ 152 $ 7,977 $ 3,173 $ 21,318 $ 27 ​ ​

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions
Related Party Transactions	22. 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 The Sentient Group (“Sentient”). Sentient, through the Sentient executive funds, holds approximately 19% of the Company’s 7.9 million shares of issued and outstanding Exploration expense

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events
Subsequent Events	23. Subsequent Events ​ Exercise of Pre-Funded Warrants ​ On July 25, 2023, Armistice Capital Master Fund LTD exercised their right to purchase 637,587 shares of common stock at an exercise price of $0.0001.

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2023
New Accounting Pronouncements
New Accounting Pronouncements	​ There were no new accounting pronouncements issued during 2023 that would affect the Company or have a material impact on its consolidated financial position or results of operations.

Cash and Cash Equivalents and_2

Cash and Cash Equivalents and Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Cash and Cash Equivalents and Investments
Schedule of short term-investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Carrying June 30, 2023 ​ Cost ​ Fair Value ​ Value ​ ​ ​ (in ​ Short-term investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trading securities ​ $ 59 ​ $ 11 ​ $ 11 ​ Total trading securities ​ 59 ​ 11 ​ 11 ​ Total short-term investments ​ $ 59 ​ $ 11 ​ $ 11 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trading securities ​ $ 59 ​ $ 20 ​ $ 20 ​ Total trading securities ​ 59 ​ 20 ​ 20 ​ Total short-term investments ​ $ 59 ​ $ 20 ​ $ 20 ​

Prepaid Expenses and Other As_2

Prepaid Expenses and Other Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Prepaid Expenses and Other Assets
Schedule of prepaid expenses and other current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2023 2022 ​ ​ ​ (in thousands) Prepaid insurance ​ $ 453 ​ $ 488 ​ Current portion of deferred offering costs ​ ​ — ​ ​ 45 ​ Recoupable deposits and other ​ 581 ​ 609 ​ ​ ​ $ 1,034 ​ $ 1,142 ​

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventories
Schedule of inventories at the Velardea Propertie	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 2022 ​ ​ (in thousands) ​ Doré inventory ​ $ 443 ​ $ 230 ​ In-process inventory ​ 406 ​ 572 ​ Material and supplies ​ ​ 426 ​ ​ 569 ​ ​ ​ $ 1,275 ​ $ 1,371 ​

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment, Net
Schedule of components of property, plant and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2023 2022 ​ ​ (in thousands) Mineral properties ​ $ 9,353 ​ $ 9,353 ​ Exploration properties ​ ​ 2,418 ​ ​ 2,418 ​ Royalty properties ​ 200 ​ 200 ​ Buildings ​ 3,808 ​ 3,808 ​ Mining equipment and machinery ​ 17,068 ​ 17,127 ​ Other furniture and equipment ​ 1,377 ​ 1,355 ​ Asset retirement cost ​ 1,157 ​ 1,157 ​ ​ ​ 35,381 ​ 35,418 ​ Less: Accumulated depreciation and amortization ​ (29,227) ​ (29,002) ​ ​ ​ $ 6,154 ​ $ 6,416 ​

Accounts Payable and Other Ac_2

Accounts Payable and Other Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Accounts Payable and Other Accrued Liabilities
Schedule of accounts payable and other accrued liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Accounts payable and accruals ​ $ 3,268 ​ $ 2,213 ​ Accrued employee compensation and benefits ​ ​ 1,654 ​ ​ 1,478 ​ Income taxes payable (Note 15) ​ 26 ​ 25 ​ ​ ​ $ 4,948 ​ $ 3,716 ​

Asset Retirement and Reclamat_2

Asset Retirement and Reclamation Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Asset Retirement and Reclamation Liabilities
Schedule of Asset Retirement Obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 2022 ​ ​ (in thousands) Current asset retirement and reclamation liabilities ​ $ — ​ $ — Non-current asset retirement and reclamation liabilities ​ 4,126 ​ 3,993 ​ ​ $ 4,126 ​ $ 3,993
Summary of activity in the Velardena Properties ARO	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, ​ 2023 2022 ​ ​ (in thousands) Balance at January 1, ​ $ 3,993 ​ $ 3,569 Changes in estimates, and other ​ (15) ​ 30 Accretion expense ​ 148 ​ 140 Balance at June 30, ​ $ 4,126 ​ $ 3,739

Other Liabilities (Tables)

Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Other Liabilities, Current
Schedule of other current liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2023 ​ 2022 ​ ​ (in thousands) Premium financing ​ $ 300 ​ $ 406 Office lease liability ​ 141 ​ 164 Mining equipment lease liability ​ ​ — ​ ​ 63 ​ ​ $ 441 ​ $ 633

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Measurements
Schedule of financial assets and liabilities at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 Level 2 Level 3 Total ​ ​ (in thousands) At June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 3,393 ​ $ — ​ $ — ​ $ 3,393 ​ Short-term investments ​ 11 ​ — ​ — ​ 11 ​ ​ ​ $ 3,404 ​ $ — ​ $ — ​ $ 3,404 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 3,972 ​ $ — ​ $ — ​ $ 3,972 ​ Short-term investments ​ 20 ​ — ​ — ​ 20 ​ ​ ​ $ 3,992 ​ $ — ​ $ — ​ $ 3,992 ​

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity
Schedule of status of the restricted stock grants issued under the Equity Plan	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ ​ Grant Date ​ ​ Number of ​ Fair Value Restricted Stock Grants ​ Shares ​ Per Share Outstanding at beginning of period ​ 19,800 ​ $ 10.95 ​ Granted during the period — ​ — ​ Restrictions lifted during the period (11,667) ​ 12.43 ​ Forfeited during the period — ​ — ​ Outstanding at end of period ​ 8,133 ​ $ 8.83 ​
Schedule of restricted stock units	The following table summarizes the status of the RSU grants issued to Directors of the Company under the 2009 Plan, including awards to nonemployee directors under the Deferred Compensation Plan, at June 30, 2023, and the changes during the six months then ended: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ ​ ​ Grant Date ​ ​ Number of ​ Fair Value Restricted Stock Units ​ Shares ​ Per Share Outstanding at beginning of period ​ 232,409 ​ $ 15.06 Granted during the period — ​ — Restrictions lifted during the period — ​ — Forfeited during the period — ​ — Outstanding at end of period ​ 232,409 ​ $ 15.06
Summary of the status of the Company's common stock warrants	The following table summarizes the status of the Company’s common stock warrants at December 31, 2022, and June 30, 2023, and the changes during the six months then ended: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ Average ​ ​ ​ Underlying ​ Exercise Price ​ Common Stock Warrants ​ Shares ​ Per Share ​ Outstanding at December 31, 2022 ​ 392,155 ​ $ 8.58 ​ Granted during period ​ ​ ​ ​ June 2023 pre-funded warrants ​ 637,587 ​ ​ 0.0001 ​ June 2023 warrants ​ 1,427,587 ​ ​ 1.90 ​ Exercised during period ​ — ​ ​ — ​ Expired during period ​ — ​ ​ — ​ Outstanding at June 30, 2023 ​ 2,457,329 ​ $ 2.47 ​

Cash Flow Information (Tables)

Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2023
Cash Flow Information
Schedule of reconciliation of net loss for the period to cash used in operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2023 2022 ​ ​ (in thousands) Cash flows (used in) from operating activities: ​ ​ ​ ​ ​ ​ ​ Net loss ​ $ (4,754) ​ $ (3,129) ​ Adjustments to reconcile net loss to net cash used in operating activities: ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ 232 ​ 152 ​ Accretion of asset retirement obligation ​ 148 ​ 140 ​ Loss on trading securities ​ 9 ​ 14 ​ Gain on sale of assets ​ (18) ​ (125) ​ Stock-based compensation ​ 232 ​ 349 ​ Changes in operating assets and liabilities from continuing operations: ​ ​ ​ ​ ​ ​ ​ Decrease (increase) in inventories, net ​ 123 ​ (153) ​ Increase in value added tax receivable, net ​ (1,451) ​ (381) ​ Decrease (increase) in prepaid expenses and other assets ​ 64 ​ (22) ​ Decrease in other long-term assets ​ 149 ​ 100 ​ Increase in accounts payable and other accrued liabilities ​ 1,232 ​ 588 ​ Decrease in deferred revenue ​ ​ — ​ ​ (750) ​ Decrease in other current liabilities ​ ​ (192) ​ ​ (280) ​ (Decrease) increase in reclamation liability ​ (15) ​ 30 ​ Decrease in other long-term liabilities ​ (53) ​ (165) ​ Net cash used in operating activities ​ $ (4,294) ​ $ (3,632) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2023 2022 ​ ​ (in thousands) Supplemental disclosure: ​ ​ ​ ​ ​ ​ ​ Interest paid ​ $ 12 ​ $ 5 ​ Income taxes paid ​ $ — ​ $ 413 ​ ​ ​ ​ ​ ​ ​ ​ ​ Supplemental disclosure of non-cash transactions: ​ ​ ​ ​ ​ ​ ​ Deferred equity offering costs amortized ​ $ 44 ​ $ — ​

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 Revenue to Sales Amortization Expense loss Total Assets Expenditures Mexico Operations ​ $ 4,973 ​ $ 3,832 ​ $ 129 ​ $ 978 ​ $ (29) ​ ​ ​ $ — ​ Corporate, Exploration and Other ​ ​ — ​ — ​ 4 ​ 1,612 ​ 1,568 ​ ​ ​ ​ ​ — ​ Consolidated $ 4,973 $ 3,832 $ 133 $ 2,590 $ 1,539 ​ ​ ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexico Operations $ 9,190 ​ $ 7,878 ​ $ 223 ​ $ 2,154 ​ $ 1,145 ​ $ 8,821 $ — ​ Corporate, Exploration and Other ​ ​ — ​ ​ — ​ ​ 9 ​ ​ 3,504 ​ ​ 3,609 ​ 6,371 ​ ​ — ​ Consolidated $ 9,190 $ 7,878 $ 232 $ 5,658 $ 4,754 $ 15,192 $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexico Operations $ 5,926 ​ $ 4,639 ​ $ 74 ​ $ 2,118 ​ $ 600 ​ ​ ​ $ 3 ​ Corporate, Exploration and Other ​ ​ — ​ ​ — ​ ​ 13 ​ ​ 2,268 ​ ​ 2,342 ​ ​ ​ ​ ​ — ​ Consolidated $ 5,926 $ 4,639 $ 87 $ 4,386 $ 2,942 ​ ​ ​ $ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mexico Operations $ 13,432 ​ $ 8,961 ​ $ 127 ​ $ 3,937 ​ $ (1,083) ​ $ 9,291 $ 26 ​ Corporate, Exploration and Other ​ ​ — ​ — ​ 25 ​ 4,040 ​ 4,256 ​ 12,027 ​ ​ 1 ​ Consolidated $ 13,432 $ 8,961 $ 152 $ 7,977 $ 3,173 $ 21,318 $ 27 ​

Basis of Preparation of Finan_2

Basis of Preparation of Financial Statements and Nature of Operations (Details)	6 Months Ended
	Jun. 30, 2023 property
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Number of additional selected properties advanced in portfolio	12
Rodeo Property
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Investment ownership percentage	100%
El Quevar Project
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Investment ownership percentage	100%
Velardena Properties
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Investment ownership percentage	100%

Basis of Preparation of Finan_3

Basis of Preparation of Financial Statements and Nature of Operations - Reverse Stock Split (Details)	Jun. 09, 2023 shares	Jun. 30, 2023 $ / shares shares	Jun. 08, 2023 shares	May 26, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares
Basis of Preparation of Financial Statements and Nature of Operations
Common stock, par value (in dollars per share) | $ / shares		$ 0.01		$ 0.01	$ 0.01
Reverse stock split	0.04
Reverse stock split, number of fractional shares				0
Common stock, shares authorized	28,000,000	28,000,000	350,000,000		28,000,000

Liquidity, Capital Resources _2

Liquidity, Capital Resources and Going Concern (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jul. 31, 2023	Dec. 31, 2022
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Exploration expenditures	$ 833,000	$ 2,799,000	$ 2,172,000	$ 4,662,000
El Quevar spending (net of Barrick reimbursements)	166,000	177,000	317,000	294,000
Administrative expense	1,216,000	1,275,000	2,547,000	2,548,000
Assets, Current	8,629,000		8,629,000			$ 7,970,000
Cash and cash equivalents	3,393,000		3,393,000			3,972,000
Liabilities, Current	5,389,000		5,389,000			$ 4,349,000
Net operating margin (loss)	(1,619,000)	$ (2,954,000)	(4,854,000)	$ (3,257,000)
MEXICO
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Value Added Tax Expected to be Received	1,500,000		1,500,000
Subsequent Event
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Cash and cash equivalents					$ 2,800,000
Rodeo Project
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Working capital	3,400,000
Velardena Properties | MEXICO
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Value Added Tax Expected to be Received	$ 2,900,000		2,900,000
Minimum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Amount of cash need to raise from various avenues to cover forecasted expenditures			3,000,000
Minimum | Rodeo Project
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Net operating margin (loss)			0
Maximum
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Amount of cash need to raise from various avenues to cover forecasted expenditures			6,000,000
Maximum | Rodeo Project
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Net operating margin (loss)			$ (500,000)

Correction of Immaterial Error

Correction of Immaterial Error (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit	$ (542,714,000)	$ (537,960,000)
Revision of Prior Period Error Correction Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit			$ (93,000)

Cash and Cash Equivalents and_3

Cash and Cash Equivalents and Investments (Details) - USD ($)	1 Months Ended		6 Months Ended	12 Months Ended
	Aug. 31, 2022	Apr. 30, 2021	Jun. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents, at Carrying Value			$ 3,393,000	$ 3,972,000
Cash and cash equivalent, frozen bank balance		$ 153,000	153,000
Trading securities, cost			59,000	59,000
Total short-term investments, cost			59,000	59,000
Total short-term investments			11,000	20,000
Financial institutions minimum net worth			$ 1,000,000,000
Golden Gryphon Explorations Inc
Shares Purchased	1,500,000		1,500,000
Aggregate Purchase Price	$ 225,000
Trading securities
Trading securities, cost			$ 59,000	$ 59,000
Sale of Santa Maria Property | Options Agreement | Fabled Copper Corp.
Consideration Received in Shares | shares				20,000
Percentage of interest claims			100%
Sale of Santa Maria Property | Options Agreement | Fabled Silver Gold Corp.
Consideration Received in Shares | shares			200,000
Estimate of Fair Value Measurement
Trading securities			$ 11,000	$ 20,000
Total short-term investments			11,000	20,000
Estimate of Fair Value Measurement | Trading securities
Trading securities			11,000	20,000
Reported Value Measurement
Trading securities			11,000	20,000
Total short-term investments			11,000	20,000
Reported Value Measurement | Trading securities
Trading securities			$ 11,000	$ 20,000

Prepaid Expenses and Other As_3

Prepaid Expenses and Other Assets (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Prepaid Expenses and Other Assets
Prepaid insurance	$ 453,000	$ 488,000
Current portion of deferred offering costs		45,000
Recoupable deposits and other	581,000	609,000
Prepaid expenses and other assets	1,034,000	1,142,000
Receivables for reimbursement of costs	$ 50,000	$ 74,000

Inventories (Details)

Inventories (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) oz	Dec. 31, 2022 USD ($) oz
Inventories, net	$ 1,275,000	$ 1,371,000
Velardena Properties
Dore inventory	443,000	230,000
In-process inventory	406,000	572,000
Material and supplies	426,000	569,000
Inventories, net	1,275,000	1,371,000
Capitalized depreciation and amortization	$ 21,000	$ 28,000
Dore inventory gold | oz	227	157
Dore inventory silver | oz	815	652
Obsolescence allowance	$ 300,000	$ 300,000

Value Added Tax Receivable, N_2

Value Added Tax Receivable, Net (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Value added tax receivable, net (Note 8)	$ 2,916,000	$ 1,465,000
MEXICO
Value added tax receivable, net (Note 8)	2,900,000
VAT receivables offset against VAT payable	$ 950,000	$ 1,500,000

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Property, plant and equipment
Property, plant and equipment, gross	$ 35,381		$ 35,381		$ 35,418
Less: Accumulated depreciation and amortization	(29,227)		(29,227)		(29,002)
Property, plant and equipment, net	6,154		6,154		6,416
Depreciation and amortization	133	$ 87	232	$ 152
Mineral properties
Property, plant and equipment
Property, plant and equipment, gross	9,353		9,353		9,353
Exploration properties
Property, plant and equipment
Property, plant and equipment, gross	2,418		2,418		2,418
Royalty properties
Property, plant and equipment
Property, plant and equipment, gross	200		200		200
Buildings
Property, plant and equipment
Property, plant and equipment, gross	3,808		3,808		3,808
Mining equipment and machinery
Property, plant and equipment
Property, plant and equipment, gross	17,068		17,068		17,127
Other furniture and equipment
Property, plant and equipment
Property, plant and equipment, gross	1,377		1,377		1,355
Asset retirement cost
Property, plant and equipment
Property, plant and equipment, gross	$ 1,157		$ 1,157		$ 1,157

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Disposals (Details)				6 Months Ended	12 Months Ended
	Dec. 19, 2022 USD ($) installment	Dec. 04, 2020 USD ($)	Apr. 09, 2020	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Property, plant and equipment
Contract with customer liability				$ 0	$ 0	$ 1,500,000
Minimum work expenditures spend to withdraw agreement						$ 1,000,000
El Quevar Project
Property, plant and equipment
Ownership after transaction (as a percent)			70%
Sale of Santa Maria Property
Property, plant and equipment
Ownership after transaction (as a percent)		100%
Carrying value of concessions allowed				$ 0	$ 0
Cash consideration received		$ 4,500,000
Sale of Santa Maria Property | Fabled Copper Corp. | Binding Letter of Intent Agreement
Property, plant and equipment
Number of quarterly installments of second year anniversary | installment	8
Amount of second year anniversary consideration	$ 250,000
Second year anniversary consideration	$ 2,000,000

Other Long-Term Assets (Details

Other Long-Term Assets (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2020
Office Leases
Change in Accounting Principle
Right of use assets	$ 184,000	$ 263,000
Mining Equipment Lease Property
Change in Accounting Principle
Right of use assets		$ 70,000
Rodeo Property
Change in Accounting Principle
Term of operating lease			27 months
Right of use assets			$ 420,000
Lease liability			$ 420,000
Future lease payments discount rate			7%

Accounts Payable and Other Ac_3

Accounts Payable and Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accounts payable and accruals	$ 3,268	$ 2,213
Accrued employee compensation and benefits	1,654	1,478
Income taxes payable (Note 15)	26	25
Accounts payable and other accrued liabilities	4,948	3,716
Accrued vacation	500	400
Withholding taxes and benefits payable	1,200	1,100
Velardena Properties
Accounts payable and accruals	2,200	1,800
Accrued employee compensation and benefits	1,400	1,200
Corporate administrative and exploration
Accounts payable and accruals	$ 1,100	$ 400

Asset Retirement and Reclamat_3

Asset Retirement and Reclamation Liabilities (Details) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jun. 30, 2012
Asset retirement and reclamation liabilities	$ 3,569,000	$ 4,126,000	$ 3,739,000	$ 3,993,000
Total		4,126,000		3,993,000
Summary of activity in the Velardena Operations ARO
ARO, Beginning balance		3,993,000	3,569,000	3,569,000
Changes in estimates, and other		(15,000)	30,000
Accretion expense		148,000	140,000
ARO, Ending balance	$ 3,569,000	$ 4,126,000	$ 3,739,000	$ 3,993,000
Velardena Properties
Asset retirement and reclamation liabilities					$ 1,900,000
Reclamation activity extension term	7 years			1 year

Other Liabilities (Details)

Other Liabilities (Details)	1 Months Ended
	May 31, 2023 USD ($) installment	Nov. 30, 2022 USD ($) installment	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Other Current Liabilities
Premium financing			$ 300,000	$ 406,000
Office lease liability			141,000	164,000
Mining equipment lease liability				63,000
Other current liabilities			441,000	633,000
Other long term liabilities			$ 69,000	$ 122,000
General Liability
Other Current Liabilities
Number of payment | installment	11
Premium interest rate	8.30%
Insurance premium payable	$ 147,000
Directors and Officers Liability, and General Liability Insurance
Other Current Liabilities
Number of payment | installment		11
Premium interest rate		7%
Insurance premium payable		$ 445,000

Fair value measurements (Detail

Fair value measurements (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Fair value measurements
Changes in estimates, and other	$ (15,000)	$ 30,000
Fair value Assumptions
Fair value adjustments to long lived assets	$ 0	$ 0
Fabled Copper Corp. | Sale, not discontinued operations | Binding Letter of Intent Agreement
Fair value Assumptions
Consideration Received in Shares | shares	200,000
Level 1 | Fabled Copper Corp. | Binding Letter of Intent Agreement
Fair value Assumptions
Investment shares held (in shares)			20,000
Fair Value, Measurements, Recurring
Fair value measurements
Cash and cash equivalents	$ 3,393,000		$ 3,972,000
Short-term investments	11,000		20,000
Assets	3,404,000		3,992,000
Fair Value, Measurements, Recurring | Level 1
Fair value measurements
Cash and cash equivalents	3,393,000		3,972,000
Short-term investments	11,000		20,000
Assets	$ 3,404,000		$ 3,992,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Net deferred tax assets	$ 0	$ 0
Net deferred tax liabilities	0	0
Gross unrecognized tax benefits at beginning of period	0	$ 0
Maximum
Current tax expense	$ 1,000

Equity - Offering and Private P

Equity - Offering and Private Placement Transaction (Details)	Jun. 26, 2023 USD ($) $ / shares shares	Jun. 09, 2023 shares	Jun. 30, 2023 $ / shares shares	Jun. 08, 2023 shares	May 26, 2023 $ / shares	Dec. 31, 2022 $ / shares shares
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (in dollars per share)			$ 0.01		$ 0.01	$ 0.01
Reverse stock split		0.04
Common Stock, Shares Authorized | shares		28,000,000	28,000,000	350,000,000		28,000,000
Exercise price of warrants (in dollars per share)			$ 2.47			$ 8.58
Total cost of offering | $	$ 215,000
Placement agent fee (as a percent)	6%
Offering And Private Placement Transaction
Subsidiary, Sale of Stock [Line Items]
Aggregate gross proceeds | $	$ 2,100,000
Offering
Subsidiary, Sale of Stock [Line Items]
Aggregate number of common stock sold (Shares) | shares	790,000
Purchase price (in dollars per shares)	$ 1.45
Warrants to purchase common stock | shares	637,587
Purchase price per warrant	$ 1.4499
Threshold minimum beneficial ownership percentage	9.99%
Number of common shares which can be purchased with each warrant | shares	1
Exercise price of warrants (in dollars per share)	$ 0.0001
Private Placement
Subsidiary, Sale of Stock [Line Items]
Number of common shares which can be purchased with each warrant | shares	1,427,587
Exercise price of warrants (in dollars per share)	$ 1.90
Warrants exercise period	6 months
Expiration term of warrant	5 years

Equity - Issue and Conversion (

Equity - Issue and Conversion (Details) - USD ($)			6 Months Ended
	Jun. 26, 2023	Mar. 29, 2023	Jun. 30, 2023	Jun. 30, 2022	May 28, 2023	Dec. 31, 2016
Total cost of offering	$ 215,000
Placement agent fee (as a percent)	6%
Proceeds from issuance of common stock, net of issuance costs			$ 3,694,000	$ 1,050,000
Private Placement
Expiration term of warrant	5 years
ATM Agreement
Stock Issued During period Shares New Issues (in shares)			308,930
Aggregate value of securities allowed under agreement		$ 10,000,000			$ 3,000,000	$ 5,000,000
Sale price (in dollars per shares)			$ 6.19
Proceeds from issuance of common stock, net of issuance costs			$ 1,839,000
Amortization of deferred cost			45,000	$ 45,000
Unamortized deferred cost			0
Aggregate securities allowed under agreement (in shares)						10,000,000
Commission rate (as a percent)		3%
Common shares available for issuance			$ 3,000,000

Equity - Non-Option Incentive (

Equity - Non-Option Incentive (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	May 26, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Weighted Average Grant Date Fair Value Per Share - Non-option
Compensation expense		$ 43	$ 200	$ 232	$ 349
Restricted Stock
Number of Shares - Non-option
Outstanding at beginning of year (in shares)				19,800
Granted during the period (in shares)
Restrictions lifted during the period (in shares)				(11,667)
Forfeited during the period (in shares)
Outstanding at end of year (in shares)		8,133		8,133
Weighted Average Grant Date Fair Value Per Share - Non-option
Outstanding at beginning of year (in dollars per share)				$ 10.95
Granted during the period (in dollars per share)
Restrictions lifted during the period (in dollars per share)				12.43
Forfeited during the period (in dollars per share)
Outstanding at end of year (in dollars per share)		$ 8.83		$ 8.83
Restricted Stock Units (RSUs)
Number of Shares - Non-option
Outstanding at beginning of year (in shares)				232,409
Granted during the period (in shares)
Restrictions lifted during the period (in shares)
Forfeited during the period (in shares)
Outstanding at end of year (in shares)		232,409		232,409
Weighted Average Grant Date Fair Value Per Share - Non-option
Outstanding at beginning of year (in dollars per share)				$ 15.06
Granted during the period (in dollars per share)
Restrictions lifted during the period (in dollars per share)
Forfeited during the period (in dollars per share)
Outstanding at end of year (in dollars per share)		$ 15.06		$ 15.06
Number of unrestricted shares Director to receive for vested RSU upon termination from board				1
Units | Officers
Number of Shares - Non-option
Outstanding at beginning of year (in shares)				188,000
Outstanding at end of year (in shares)		168,000		168,000
Weighted Average Grant Date Fair Value Per Share - Non-option
Compensation expense		$ 75	28	$ 36	97
Equity Incentive Plan
Number of Shares - Non-option
Stock Plan Reserve Shares	360,000
Equity Incentive Plan | Restricted Stock
Weighted Average Grant Date Fair Value Per Share - Non-option
Compensation expense		$ 23	99	$ 56	125
2023 Plan | Restricted Stock
Number of Shares - Non-option
Granted during the period (in shares)		0
2023 Plan | Restricted Stock Units (RSUs)
Number of Shares - Non-option
Granted during the period (in shares)				0
Weighted Average Grant Date Fair Value Per Share - Non-option
Compensation expense		$ 95	$ 73	$ 212	$ 127

Equity - Warrants (Details)

Equity - Warrants (Details) - $ / shares		6 Months Ended
	Jun. 26, 2023	Jun. 30, 2023
Number of Underlying Shares
Outstanding, beginning balance (in shares)		392,155
Exercised during period (in shares)
Expired during period (in shares)
Outstanding, end balance (in shares)		2,457,329
Weighted Average Exercise Price Per Share
Outstanding, beginning balance (in dollars per share)		$ 8.58
Exercised during period (in dollar per share)
Expired during period (in dollar per share)
Outstanding, end balance (in dollars per share)		$ 2.47
June 2023 pre-funded warrants
Number of Underlying Shares
Granted during the period (in shares)		637,587
Weighted Average Exercise Price Per Share
Granted (in dollars per share)		$ 0.0001
June 2023 warrants
Number of Underlying Shares
Granted during the period (in shares)		1,427,587
Weighted Average Exercise Price Per Share
Granted (in dollars per share)		$ 1.90
Private Placement
Weighted Average Exercise Price Per Share
Outstanding, end balance (in dollars per share)	$ 1.90
Number of common shares which can be purchased with each warrant	1,427,587

Sale of Metals and Related Co_2

Sale of Metals and Related Costs (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Sale of Metals and Related Costs
Revenue from Contract with Customer, Excluding Assessed Tax		$ 4,973	$ 5,926	$ 9,190	$ 13,432
Costs Applicable to Sales		$ 3,859	$ 4,639	$ 7,905	$ 8,961
Percentage of provisional payment for gold and silver				95%
Term of final payment within shipment date				30 days
Gold
Sale of Metals and Related Costs
Percentage of provisional payment for gold and silver				95%
Silver
Sale of Metals and Related Costs
Percentage of provisional payment for gold and silver				90%
Gold and Silver in Dore [Member]
Sale of Metals and Related Costs
Revenue from Contract with Customer, Excluding Assessed Tax				$ 7,700
Costs Applicable to Sales				$ 7,700
Term of final payment within shipment date				30 days
Minimum
Sale of Metals and Related Costs
Provisional payment term of gold and silver				10 days
Minimum | Gold and Silver in Dore [Member]
Sale of Metals and Related Costs
Provisional payment term of gold and silver	10 days
Maximum
Sale of Metals and Related Costs
Provisional payment term of gold and silver				12 days
Maximum | Gold and Silver in Dore [Member]
Sale of Metals and Related Costs
Provisional payment term of gold and silver	12 days

Sale of Metals and Related Co_3

Sale of Metals and Related Costs - Revenue from Concentrate Sales and Slag Sales (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2023 USD ($) item	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Sale of Metals and Related Costs
Number of different type of concentrates, the entity sell | item	3
Revenue from Contract with Customer, Excluding Assessed Tax		$ 4,973,000	$ 5,926,000	$ 9,190,000	$ 13,432,000
Costs Applicable to Sales		$ 3,859,000	$ 4,639,000	$ 7,905,000	8,961,000
Percentage of provisional payment for gold and silver				95%
Term of final payment within shipment date				30 days
Minimum
Sale of Metals and Related Costs
Provisional payment term of gold and silver				10 days
Maximum
Sale of Metals and Related Costs
Provisional payment term of gold and silver				12 days
Gold and Silver in Dore
Sale of Metals and Related Costs
Revenue from Contract with Customer, Excluding Assessed Tax				$ 7,700,000
Costs Applicable to Sales				$ 7,700,000
Term of final payment within shipment date				30 days
Gold and Silver in Dore | Minimum
Sale of Metals and Related Costs
Provisional payment term of gold and silver	10 days
Gold and Silver in Dore | Maximum
Sale of Metals and Related Costs
Provisional payment term of gold and silver	12 days
Concentrate Sales
Sale of Metals and Related Costs
Revenue from Contract with Customer, Excluding Assessed Tax					0
Concentrates containing various amounts of gold, silver, lead and zinc produced
Sale of Metals and Related Costs
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,200,000
Costs Applicable to Sales	$ 200,000
Percentage of provisional payment for gold and silver	90%
Term of final payment within shipment date	60 days
Term after delivery of concentrate to the buyer to determine price of gold and silver	1 month
Slag Sales
Sale of Metals and Related Costs
Revenue from Contract with Customer, Excluding Assessed Tax					$ 0
Gold and silver contained in the slag
Sale of Metals and Related Costs
Revenue from Contract with Customer, Excluding Assessed Tax				$ 300,000
Costs Applicable to Sales				$ 0
Gold
Sale of Metals and Related Costs
Percentage of provisional payment for gold and silver				95%
Silver
Sale of Metals and Related Costs
Percentage of provisional payment for gold and silver				90%

Cash Flow Information (Details)

Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Cash flows (used in) from operating activities:
Net loss			$ (4,754)	$ (3,129)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	$ 133	$ 87	232	152
Accretion of asset retirement obligation			148	140
Loss on trading securities			9	14
Gain on sale of assets			(18)	(125)
Stock-based compensation			232	349
Changes in operating assets and liabilities from continuing operations:
Decrease (increase) in inventories, net			123	(153)
Increase in value added tax receivable, net			(1,451)	(381)
Decrease (increase) in prepaid expenses and other assets			64	(22)
Decrease in other long-term assets			149	100
Increase in accounts payable and other accrued liabilities			1,232	588
Decrease in deferred revenue				(750)
Decrease in other current liabilities			(192)	(280)
(Decrease) increase in reclamation liability			(15)	30
Decrease in other long-term liabilities			(53)	(165)
Net cash used in operating activities			$ (4,294)	$ (3,632)

Cash Flow Information - Supplem

Cash Flow Information - Supplemental and Non-cash transactions (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flow Information
Interest paid	$ 12	$ 5
Income taxes paid		$ 413
Deferred equity offering costs amortized	$ 44

Commitments and Contingencies (

Commitments and Contingencies (Details)	1 Months Ended	6 Months Ended
	Apr. 30, 2021 USD ($)	Jun. 30, 2023 USD ($) item
Frozen Bank Account Estimated Value	$ 153,000	$ 153,000
Number of processing plants held | item		1
Potential Lawsuit From Unifin Financiera | Threatened Litigation
Loss Contingency, Damages Sought, Value		$ 12,500,000

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Segment Information
Number of reportable segments | segment			2
Revenue	$ 4,973	$ 5,926	$ 9,190	$ 13,432
Costs Applicable to Sales	3,832	4,639	7,878	8,961
Depreciation, Depletion and Amortization	133	87	232	152
Exploration, El Quevar, Velardena and Administrative Expense	2,590	4,386	5,658	7,977
Pre-Tax (gain) loss	1,539	2,942	4,754	3,173
Total Assets	15,192	21,318	15,192	21,318	$ 14,944
Capital Expenditures		3	$ 5	27
Mexico Operations
Segment Information
Number of reportable segments | segment			1
Revenue	4,973	5,926	$ 9,190	13,432
Costs Applicable to Sales	3,832	4,639	7,878	8,961
Depreciation, Depletion and Amortization	129	74	223	127
Exploration, El Quevar, Velardena and Administrative Expense	978	2,118	2,154	3,937
Pre-Tax (gain) loss	(29)	600	1,145	(1,083)
Total Assets	8,821	9,291	8,821	9,291
Capital Expenditures		3		26
Corporate, Exploration and Other
Segment Information
Depreciation, Depletion and Amortization	4	13	9	25
Exploration, El Quevar, Velardena and Administrative Expense	1,612	2,268	3,504	4,040
Pre-Tax (gain) loss	1,568	2,342	3,609	4,256
Total Assets	$ 6,371	$ 12,027	$ 6,371	12,027
Capital Expenditures				$ 1

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) shares in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Minera Inde
Related Party Transaction
Monthly charges received	$ 15,000
Received amount	$ 204,000	$ 90,000
Sentient Loan | The Sentient Group
Related Party Transaction
Ownership (as a percent)	19%
Shares issued	7.9
Shares outstanding	170.3

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Jul. 25, 2023	Jun. 30, 2023	Dec. 31, 2022
Subsequent Event
Exercise price		$ 2.47	$ 8.58
Subsequent Event | Pre-Funded Warrants
Subsequent Event
Shares issued upon exercise of warrants	637,587
Exercise price	$ 0.0001