Gold Resource (GORO) 10-K 27 Mar 24 2023 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 20, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-34857
Entity Registrant Name	Gold Resource Corporation
Entity Incorporation, State or Country Code	CO
Entity Tax Identification Number	84-1473173
Entity Address, Address Line One	7900 E. Union Ave,
Entity Address, Address Line Two	Suite 320,
Entity Address, City or Town	Denver,
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80237
City Area Code	303
Local Phone Number	320-7708
Title of 12(b) Security	Common Stock
Trading Symbol	GORO
Security Exchange Name	NYSEAMER
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		88,757,610
Entity Public Float			$ 55,611,099
Amendment Flag	false
Entity Central Index Key	0001160791
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Auditor Name	BDO USA, P.C.
Auditor Firm ID	243
Auditor Location	Spokane, Washington

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 6,254	$ 23,675
Accounts receivable, net	4,335	5,085
Inventories, net	9,294	13,500
Prepaid expenses and other current assets	6,612	3,839
Total current assets	26,495	46,099
Property, plant, and mine development, net	138,626	152,563
Deferred tax assets, net	13,301	5,927
Other non-current assets	5,464	5,509
Total assets	183,886	210,098
Current liabilities:
Accounts payable	8,378	13,329
Mining royalty taxes payable, net	1,199	3,945
Contingent consideration		2,211
Accrued expenses and other current liabilities	1,748	5,197
Total current liabilities	11,325	24,682
Reclamation and remediation liabilities	11,795	10,366
Gold and silver stream agreements liability	44,932	43,466
Deferred tax liabilities, net	14,077	15,151
Contingent consideration	3,548	2,179
Other non-current liabilities	1,516	2,490
Total liabilities	87,193	98,334
Commitments and contingencies
Shareholders' equity:
Common stock - $0.001 par value, 200,000,000 shares authorized: 88,694,038 and 88,398,109 shares outstanding at December 31, 2023 and December 31, 2022, respectively	89	89
Additional paid-in capital	111,970	111,024
(Accumulated deficit) retained earnings	(8,311)	7,706
Treasury stock at cost, 336,398 shares	(5,884)	(5,884)
Accumulated other comprehensive loss	(1,171)	(1,171)
Total shareholders' equity	96,693	111,764
Total liabilities and shareholders' equity	$ 183,886	$ 210,098

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED BALANCE SHEETS
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares outstanding	88,694,038	88,398,109
Treasury stock, shares	336,398	336,398

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Sales, net	$ 97,728	$ 138,724
Cost of sales:
Production costs	76,143	80,949
Depreciation and amortization	26,126	27,226
Reclamation and remediation	774	801
Total cost of sales	103,043	108,976
Mine gross (loss) profit	(5,315)	29,748
Costs and expenses:
General and administrative expenses	6,583	8,048
Exploration expenses	5,809	13,049
Stock-based compensation	681	1,955
Realized and unrealized loss on zinc zero cost collar		170
Other expense, net	3,364	4,288
Total costs and expenses	16,437	27,510
(Loss) income before income taxes	(21,752)	2,238
(Benefit) provision for income taxes	(5,735)	8,559
Net loss	$ (16,017)	$ (6,321)
Net loss per common share:
Basic net loss per common share	$ (0.18)	$ (0.07)
Diluted net loss per common share	$ (0.18)	$ (0.07)
Weighted average shares outstanding:
Basic (in shares)	88,514,243	88,368,250
Diluted (in shares)	88,514,243	88,368,250
Oaxaca, Mexico
Costs and expenses:
Exploration expenses	$ 4,167	$ 4,244
Michigan, USA
Costs and expenses:
Exploration expenses	$ 1,642	$ 8,805

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Shares	Additional Paid-in Capital	Retained Earnings/Accumulated (Deficit)	Total
Balance at Dec. 31, 2021	$ 89	$ 110,153	$ 17,563
Balance (in shares) at Dec. 31, 2021	88,675,172
Stock-based compensation		1,240
Net stock options exercised		(331)
Net stock options exercised (in shares)				355,000
Common stock issued for vested restricted stock units (in shares)	80,169
Dividends declared			(3,536)
Unclaimed shares related to the Aquila acquisition		(29)
Unclaimed shares related to the Aquila acquisition (in shares)	(16,249)
Surrender of stock for taxes due on vesting		(9)
Surrender of stock for taxes due on vesting (in shares)	(4,585)
Net loss			(6,321)	$ (6,321)
Balance at Dec. 31, 2022	$ 89	111,024	7,706	$ 111,764
Balance (in shares) at Dec. 31, 2022	88,734,507
Stock-based compensation		879
Net stock options exercised (in shares)				0
Common stock issued for vested restricted stock units (in shares)	130,238
Issuance of stock, net of issuance costs		85
Issuance of stock, net of issuance costs (in shares)	195,872
Surrender of stock for taxes due on vesting		(18)
Surrender of stock for taxes due on vesting (in shares)	(30,181)
Net loss			(16,017)	$ (16,017)
Balance at Dec. 31, 2023	$ 89	$ 111,970	$ (8,311)	$ 96,693
Balance (in shares) at Dec. 31, 2023	89,030,436

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
Cash dividends declared per share	$ 0	$ 0.04
Cash dividends paid per share	$ 0	$ 0.04

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (16,017)	$ (6,321)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Deferred income tax benefit	(6,638)	(3,545)
Depreciation and amortization	26,217	27,364
Stock-based compensation	681	1,955
Other operating adjustments	591	44
Changes in operating assets and liabilities:
Accounts receivable	750	3,587
Inventories	2,611	(2,550)
Prepaid expenses and other current assets	1,568	(724)
Other non-current assets	(863)	249
Accounts payable and other accrued liabilities	(7,113)	284
Mining royalty and income taxes payable, net	(7,006)	(6,186)
Net cash (used in) provided by operating activities	(5,219)	14,157
Cash flows from investing activities:
Capital expenditures	(12,487)	(18,233)
Equity investment		(1,743)
Proceeds from the sale of gold and silver rounds		533
Net cash used in investing activities	(12,487)	(19,443)
Cash flows from financing activities:
Cash settlement of options exercise		(376)
Dividends paid		(3,536)
Proceeds from the ATM sales	85
Other financing activities	(23)
Net cash provided by (used in) financing activities	62	(3,912)
Effect of exchange rate changes on cash and cash equivalents	223	(839)
Net decrease in cash and cash equivalents	(17,421)	(10,037)
Cash and cash equivalents at beginning of period	23,675	33,712
Cash and cash equivalents at end of period	6,254	23,675
Supplemental Cash Flow Information
Income and mining taxes paid	7,751	18,594
Non-cash investing or financing activities
Balance of capital expenditures in accounts payable	214	1,303
Change in estimate for asset retirement costs	$ (1,221)	6,384
Green Light Metals shares received for promissory note		3,611
Issuance (cancellation) of shares related to the Aquila acquisition		$ (29)

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Nature of Operations and Summary of Significant Accounting Policies
Nature of Operations and Summary of Significant Accounting Policies	1. Nature of Operations and Summary of Significant Accounting Policies Nature of Operations Gold Resource Corporation (the “Company”) was organized under the laws of the State of Colorado on August 24, 1998. The Company is a producer of doré containing gold and silver and metal concentrates that contain gold, silver, copper, lead, and zinc in Oaxaca, Mexico. The Company also has 100% interest in the Back Forty Project, an advanced Exploration Stage Property, located in Menominee County, Michigan, USA. Significant Accounting Policies Basis of Presentation The consolidated financial statements included herein are expressed in United States dollars and conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of the Company, its Mexican subsidiary, Don David Gold Mexico S.A. de C.V., and Aquila Resources Inc (“Aquila) and its subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Segment Reporting The Company has organized its operations into three geographic regions. The geographic regions include Oaxaca, Mexico, Michigan, U.S.A., and Corporate and Other. Oaxaca, Mexico represents the Company’s only production stage property. Michigan, U.S.A. is an advanced exploration stage property. The Company’s business activities that are not considered production stage or advanced exploration stage properties are included in Corporate and Other . Please see Note 21—Segment Reporting below for additional information. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. The more significant areas requiring the use of management estimates and assumptions relate to Mineral Resources and Mineral Reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of-production depreciation calculations; future metal prices; environmental remediation, reclamation and closure obligations; estimates of recoverable gold and other minerals in stockpiles; write-downs of inventory stockpiles to net realizable value; valuation allowances for deferred tax assets and liabilities; valuation of contingent considerations and gold and silver stream agreements; provisional amounts related to income tax effects of newly enacted tax laws; and stock-based compensation. Management routinely makes judgments and estimates about the effects of matters that are inherently uncertain and bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances. Actual results could differ from these estimates. ​ Revisions of Previously Issued Financial Statements for Correction of Immaterial Errors In connection with the preparation of the Company’s financial statements for the period ended September 30, 2023, the Company’s management identified an immaterial error in prior period financial statements, whereby deferred tax liabilities and deferred tax assets attributable to different tax-paying components of the entity or to different tax jurisdictions were incorrectly offset. The Company has corrected the consolidated balance sheets as of December 31, 2022, for this immaterial error. The effects of these revisions are as follows. ​ Revision to the Consolidated Balance Sheet as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As filed as of ​ ​ ​ Revised as of ​ December 31, ​ Adjustments ​ December 31, ​ 2022 ​ ​ ​ 2022 ASSETS ​ ​ ​ ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ Total current assets $ 46,099 ​ $ - ​ $ 46,099 Property, plant, and mine development, net ​ 152,563 ​ ​ - ​ ​ 152,563 Deferred tax assets, net ​ - ​ ​ 5,927 ​ ​ 5,927 Other non-current assets ​ 5,509 ​ ​ - ​ ​ 5,509 Total assets $ 204,171 ​ $ 5,927 ​ $ 210,098 LIABILITIES AND SHAREHOLDERS' EQUITY ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities $ 24,682 ​ $ - ​ $ 24,682 Reclamation and remediation liabilities ​ 10,366 ​ ​ - ​ ​ 10,366 Gold and silver stream agreements liability ​ 43,466 ​ ​ - ​ ​ 43,466 Deferred tax liabilities, net ​ 9,224 ​ ​ 5,927 ​ ​ 15,151 Contingent consideration ​ 2,179 ​ ​ - ​ ​ 2,179 Other non-current liabilities ​ 2,490 ​ ​ - ​ ​ 2,490 Total liabilities ​ 92,407 ​ ​ 5,927 ​ ​ 98,334 Shareholders' equity: ​ ​ ​ ​ ​ ​ ​ ​ Total shareholders' equity ​ 111,764 ​ ​ - ​ ​ 111,764 Total liabilities and shareholders' equity $ 204,171 ​ $ 5,927 ​ $ 210,098 ​ Cash and Cash Equivalents Cash and cash equivalents consist of all cash balances and highly liquid investments with a remaining maturity of three months or less when purchased. Cash held in Mexican Pesos or Canadian Dollars is converted to U.S. Dollars at the closing exchange rate at year end. Accounts Receivable, net Accounts receivable consists of trade receivables, which are recorded net of allowance for credit losses from the sale of doré and metals concentrates, as well as net of an embedded derivative based on mark-to-market adjustments for outstanding provisional invoices based on forward metal prices. Please see Item 8. Financial Statements and Supplementary Data—Note 13. Derivatives Item 8. Financial Statements and Supplementary Data—Note 19. Fair Value Measurement Inventories The major inventory categories are set forth below: Stockpile Inventories : Concentrate Inventories Doré Inventory: Materials and Supplies Inventories Write-downs of inventory, when needed, are charged to production costs on the Consolidated Statements of Operations. Property, Plant, and Mine Development Land and Mineral Interests Mine Development Drilling costs incurred during the production phase for operational ore control are recorded as mine development and amortized using UOP. All other drilling and related costs are expensed as incurred. Mine development costs are amortized using the UOP method based on estimated recoverable ounces in Mineral Reserves. Property and Equipment Construction in Progress Depreciation and Amortization ​ ​ ​ ​ ​ ​ Range of Lives ​ Asset retirement costs ​ UOP ​ Furniture, computer and office equipment ​ 3 to 10 years ​ Light vehicles and other mobile equipment ​ 4 years ​ Machinery and equipment ​ UOP to 8 years ​ Mill facilities and related infrastructure ​ UOP ​ Mine development and mineral interests ​ UOP ​ Buildings and infrastructure ​ UOP to 4 years ​ ​ Impairment of Long-Lived Assets The Company evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Asset impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the asset. If an impairment is indicated, a determination is made whether an impairment has occurred. Impairment losses are measured either 1) as the excess of carrying value over the total discounted estimated future cash flows, or 2) as the excess of carrying value over the fair value, using the expected fair value technique in the absence of an observable market price. Losses are charged to expense on the Company’s Consolidated Statements of Operations. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. Existing Mineral Resources and Mineral Reserves are included when estimating the fair value in determining whether the assets are impaired. The Company’s estimates of future cash flows are based on numerous assumptions, including expected gold and other commodity prices, production levels and costs, processing recoveries, capital requirements, and estimated salvage values. It is possible that actual future cash flows will be significantly different from the estimates, as actual future quantities of recoverable minerals, gold and other commodity prices, production levels and costs, and capital requirements are each subject to significant risks and uncertainties. Fair Value of Financial Instruments The recorded amounts of cash and cash equivalents, receivables from provisional concentrate sales, and accounts payable approximate fair value because of the short maturity of those instruments. The recorded amount for the equity investment in the common shares of Maritime is based on the closing share price of MAE.V on TSX-V. The company elected the fair value measurement option as the measurement basis for the equity investment in the common shares of Green Light Metals. Treasury Stock Treasury stock represents shares of the Company’s common stock which have been repurchased on the open market at the prevailing market price at the time of purchase and have not been canceled. Treasury stock is shown at cost as a separate component of shareholders’ equity. Revenue Recognition The Company recognizes revenue from doré and concentrate sales. Doré sales Concentrate sales Production Costs Production costs include labor and benefits, royalties, concentrate and doré shipping costs, mining costs, fuel and lubricants, legal and professional fees related to mine operations, stock-based compensation attributable to mine workers, materials and supplies, repairs and maintenance, explosives, site support, housing and food, insurance, reagents, travel, medical services, security equipment, office rent, tools, and other costs that support mining operations. Exploration Costs Exploration costs are charged to expense as incurred. Costs to identify new Mineral Resources and to evaluate potential Mineral Resources are considered exploration costs. Exploration activities conducted within the defined Mineral Resources are capitalized. Stock-Based Compensation The Company accounts for stock-based compensation under the fair value recognition and measurement provisions of U.S. GAAP. Those provisions require all stock-based payments, including grants of stock options, restricted stock units (“RSUs”), performance share units (“PSUs”), and deferred share units (“DSUs”) to be measured based on the grant date fair value of the awards, with the resulting expense generally recognized on a straight-line basis in the Consolidated Statements of Operations over the period during which services are performed in exchange for the award. The majority of the awards are earned over a service period of three years. DSUs are earned immediately at grant and are expected to be paid out in cash in the future. PSUs and DSUs are considered liability instruments and marked-to-market each reporting period. The Company's estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee stock option exercise behaviors, additional stock option grants, and estimates of forfeitures. Reclamation and Remediation Costs Reclamation costs are allocated to expense over the life of the related assets and are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation and remediation costs. Reclamation obligations are based in part on when the spending for an existing environmental disturbance will occur. The Company reviews the reclamation obligation at least on an annual basis. In 2014, the Company became a production stage company and therefore, started capitalizing asset retirement costs along with the asset retirement obligation. Please see Item 8. Financial Statements and Supplementary Data—Note 10. Reclamation and Remediation Accounting for reclamation and remediation obligations requires management to make estimates unique to each mining operation of the future costs expected to be incurred to complete the reclamation and remediation work required to comply with existing laws and regulations. Actual costs incurred in future periods could differ from the amounts estimated. Additionally, future changes to environmental laws and regulations could increase the extent of reclamation and remediation work required. Any such increases in future costs could materially impact the amounts charged to operations for reclamation and remediation. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss is presented in the Consolidated Statements of Changes in Shareholders’ Equity. Accumulated other comprehensive loss is composed of foreign currency translation adjustment effects related to the historical adjustment when the functional currency was the Mexican peso for our Mexico subsidiary. This loss will remain on our Consolidated Balance Sheets until the sale or dissolution of our Mexico subsidiary. Income and Mining Royalty Taxes Income and Mining Royalty Taxes are computed using the asset and liability method. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial and tax reporting purposes and the effect of net operating loss and foreign tax credit carryforwards using enacted tax rates in effect in the years in which the differences are expected to reverse. Deferred tax assets and liabilities are evaluated to determine if it is more likely than not that they will be realized. Deferred tax liabilities and deferred tax assets attributable to different tax-paying components of the entity or to different tax jurisdictions are not netted against each other. Please see Item 8. Financial Statements and Supplementary Data—Note 4. Income Taxes Net Loss Per Share Basic loss per share is calculated based on the weighted average number of common shares outstanding for the period. Diluted loss per share reflects the dilution that could occur if potentially dilutive securities, as determined using the treasury stock method, are converted into common stock. Potentially dilutive securities are excluded from the calculation when their inclusion would be anti-dilutive, such as periods when a net loss is reported or when the exercise price of the instrument exceeds the average fair market value of the underlying common stock. Foreign Currency The functional currency for all of the Company’s subsidiaries is the United States dollar (“U.S. dollar”). Concentration of Credit Risk The Company has considered and assessed the credit risk resulting from its concentrate sales and doré sales arrangements with its customers. In the event that the Company’s relationships with its customers are interrupted for any reason, the Company believes that it would be able to locate another entity to purchase its metals concentrates and doré bars; however, any interruption could temporarily disrupt the Company’s sale of its products and materially adversely affect operating results. Currently 100% of the Company’s total net sales from operations are coming from the Arista and Alta Gracia mines at DDGM, the Company’s Oaxaca, Mexico business segment. Sales from significant customers as a percentage of sales for the years ended December 31, 2023 and 2022 were the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ ​ 2023 ​ 2022 Customer A ​ 48 % ​ 38 % Customer B ​ 24 % ​ 33 % Customer C ​ 25 % ​ - % Customer D ​ - % ​ 24 % ​ The following table shows accounts receivable from significant customers as a percentage of total accounts receivable as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 Customer A ​ 46 % ​ 47 % Customer B ​ 33 % ​ 33 % Customer C ​ 21 % ​ - % Customer D ​ - % ​ 20 % ​ Some of the Company’s operating cash balances are maintained in accounts that currently exceed federally insured limits. The Company believes that the financial strength of the depositing institutions mitigates the underlying risk of loss. To date, these concentrations of credit risk have not had a significant impact on the Company’s financial position or results of operations. Streaming Liabilities The Company presents the gold and silver streaming liabilities initially at fair value and subsequently accreted using a discount rate and risk factor probabilities. The discount rate is the Company’s estimated borrowing rate, and the probabilities consider the completion of the feasibility study, obtaining necessary permits, and the completion of the mine facilities. The adjustment in the value is the accretion of interest, which is included in other expense, net. ​ New Accounting Pronouncements and Accounting Standards Updates to Become Effective in Future Periods The FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures in November 2023, amending reportable segment disclosure requirements to include disclosure of incremental segment information on an annual and interim basis. Among the disclosure enhancements are new disclosures regarding significant segment expenses that are regularly provided to the chief operating decision-maker and included within each reported measure of segment profit or loss, as well as other segment items bridging segment revenue to each reported measure of segment profit or loss. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, and are applied retrospectively. Early adoption is permitted. We are currently evaluating the impact of this update on our consolidated financial statements and disclosures . The FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures in December 2023, amending income tax disclosure requirements for the effective tax rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024, and are applied prospectively. Early adoption and retrospective application of the amendments are permitted. We are currently evaluating the impact of this update on our consolidated financial statements and disclosures.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2023
Revenue
Revenue	2. Revenue The Company derives its revenue from the sale of doré and concentrates. The following table presents the Company’s net sales disaggregated by source: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Doré sales, net ​ ​ ​ ​ ​ ​ Gold ​ $ 3,079 ​ $ 7,997 Silver ​ ​ 139 ​ ​ 230 Less: Refining charges ​ ​ (52) ​ ​ (59) Total doré sales, net ​ ​ 3,166 ​ ​ 8,168 Concentrate sales ​ ​ ​ ​ ​ ​ Gold ​ ​ 32,865 ​ ​ 46,322 Silver ​ ​ 24,066 ​ ​ 22,527 Copper ​ ​ 10,472 ​ ​ 11,987 Lead ​ ​ 9,540 ​ ​ 11,626 Zinc ​ ​ 29,225 ​ ​ 50,470 Less: Treatment and refining charges ​ ​ (11,578) ​ ​ (12,013) Total concentrate sales, net ​ ​ 94,590 ​ ​ 130,919 Realized gain (loss) - embedded derivative, net (1) ​ ​ 298 ​ ​ (720) Unrealized (loss) gain - embedded derivative, net ​ ​ (326) ​ ​ 357 Total sales, net ​ $ 97,728 ​ $ 138,724 ​ (1) Copper, lead, and zinc are co-products. In the realized (loss) gain - embedded derivative, net, there are $0.3 million gain and $0.7 million gain, respectively, related to these co-products for the years ended December 31, 2023 and 2022. ​

Inventories

Inventories	12 Months Ended
	Dec. 31, 2023
Inventories
Inventories, net	3. Inventories At December 31, 2023 and 2022, inventories consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Stockpiles - underground mine ​ $ 534 ​ $ 597 Concentrates ​ ​ 1,768 ​ ​ 3,271 Doré, net ​ ​ 169 ​ ​ 653 Subtotal - product inventories ​ ​ 2,471 ​ ​ 4,521 Materials and supplies (1) ​ ​ 6,823 ​ ​ 8,979 Total ​ $ 9,294 ​ $ 13,500 (1) Net of reserve for obsolescence of $0.5 million and $0.1 million as of December 31, 2023 and 2022, respectively. ​

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Taxes
Income Taxes	4. Income Taxes The Company accounts for income taxes in accordance with the provisions of ASC 740, "Income Taxes" ("ASC 740") on a tax jurisdictional basis. The Company and its U.S. subsidiaries file U.S. tax returns and the Company’s foreign subsidiaries file tax returns in Mexico and Canada. For financial reporting purposes, total (loss) income before income taxes includes the following components. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) U.S. Operations ​ $ (8,958) ​ $ (18,317) Foreign Operations (1) ​ ​ (12,794) ​ ​ 20,555 Total (loss) income before income taxes ​ $ (21,752) ​ $ 2,238 ​ (1) Foreign operations are predominantly in Mexico, as activities in Canada are minimal. ​ The Company's total income tax (benefit) provision consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Current taxes: ​ ​ State ​ $ (3) ​ $ (254) Foreign ​ ​ 906 ​ ​ 12,358 Total current taxes ​ $ 903 ​ $ 12,104 ​ ​ ​ ​ ​ ​ ​ Deferred taxes: ​ ​ ​ ​ ​ ​ Federal ​ $ (691) ​ $ (895) State ​ ​ - ​ ​ 25 Foreign ​ ​ (5,947) ​ ​ (2,675) Total deferred tax benefits ​ $ (6,638) ​ $ (3,545) Total income tax (benefit) provision ​ $ (5,735) ​ $ 8,559 ​ The (benefit) provision for income taxes for the years ended December 31, 2023 and 2022 differs from the amount of income tax determined by applying the applicable United States statutory federal income tax rate to pre-tax income from operations as a result of the following differences: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Tax at statutory rates ​ $ (4,568) ​ $ 470 Foreign rate differential ​ ​ (1,006) ​ ​ 1,867 Changes in valuation allowance ​ ​ (3,521) ​ ​ (5,115) Tax losses subject to limitation ​ ​ 2,708 ​ ​ 8,306 Mexico mining tax ​ ​ 301 ​ ​ 2,168 Foreign exchange ​ ​ (904) ​ ​ 311 Stock option expiration ​ ​ 237 ​ ​ 519 Mexico withholding tax ​ ​ 102 ​ ​ 1,328 Deduction for inflation in Mexico ​ ​ (1,043) ​ ​ (1,083) U.S. state income tax ​ ​ (288) ​ ​ (786) Foreign tax credit expirations ​ ​ 2,118 ​ ​ - Other ​ ​ 129 ​ ​ 574 Tax (benefit) provision ​ $ (5,735) ​ $ 8,559 ​ In the fourth quarter of 2023, the Company completed a study of the Internal Revenue Code section 382 (“382”) net operating loss limitations related to ownership changes in connection with the Back Forty Project acquisition. The study found that approximately $45.1 million of federal net operating losses and $12.3 million of Michigan net operating losses would be subject to potential limitation under 382. The study also concluded that, of those losses, $30.8 million of federal losses and $35.9 million of Michigan losses would be unable to offset future taxable income by the Company due to loss limitations under 382 and loss carryforward expirations. The annual limitation for the Company under 382 is $1.3 million. ​ The following table sets forth deferred tax assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ ​ 2023 ​ 2022 ​ ​ ​ (in thousands) Deferred tax assets: ​ ​ ​ ​ ​ ​ Tax loss carryforward ​ $ 28,888 ​ $ 25,626 Property, plant, and mine development ​ ​ 5,880 ​ ​ 1,429 Share-based compensation ​ ​ 131 ​ ​ 511 Foreign tax credits ​ ​ 1,971 ​ ​ 4,089 Inventory ​ ​ 197 ​ ​ 45 Foreign Mining Tax ​ ​ 264 ​ ​ 1,106 Accrued Expenses ​ ​ 5,529 ​ ​ 5,606 Gold and silver stream agreements liability ​ ​ 3,472 ​ ​ 2,144 Employee profit sharing obligation ​ ​ 20 ​ ​ 663 Other ​ ​ 300 ​ ​ 1,344 Total deferred tax assets ​ $ 46,652 ​ $ 42,563 Valuation allowance ​ ​ (28,297) ​ ​ (31,818) Deferred tax assets after valuation allowance ​ $ 18,355 ​ $ 10,745 Deferred tax liability – Property, plant and mine development ​ ​ (17,713) ​ ​ (17,724) Deferred tax liability – Other ​ ​ (1,418) ​ ​ (2,245) Total deferred tax liabilities ​ $ (19,131) ​ $ (19,969) Net deferred tax liability ​ $ (776) ​ $ (9,224) ​ In accordance with ASC 740, the Company presents deferred tax assets net of its deferred tax liabilities on its Consolidated Balance Sheets on a jurisdictional basis. The net deferred tax liability of $0.8 million as of December 31, 2023 shown in the table above is comprised of a $14.1 million deferred tax liability related to the US entities and a $13.3 million deferred tax asset related to Don David Gold Mine S.A. de C.V. (“DDGM”) in Mexico. No net deferred tax balances exist in Canada due to the existence of a full valuation allowance. The Company evaluates the evidence available to determine whether a valuation allowance is required on deferred tax assets. As of December 31, 2023, the Company determined that a valuation allowance of $28.3 million was necessary due to the uncertain utilization of specific deferred tax assets, primarily net operating loss carryforwards, with $18.8 million in U.S. and $9.5 million in Canada; $19.5 million of the total valuation allowance of $28.3 million is related to Aquila in the U.S. and Canada. As of December 31, 2022, the Company determined that a valuation allowance of $31.8 million was necessary due to the uncertain utilization of specific deferred tax assets, primarily net operating loss carryforwards, with $21.2 million in U.S. and $10.6 million in Canada; $21.8 million of the valuation allowance is related to Aquila. The net change in the Company’s valuation allowance was a decrease of $3.5 million for the year ended December 31, 2023. The decrease in valuation allowance is primarily explained by expiration of foreign tax credits and the write-off of net operating losses now expected to expire unutilized under 382 on a tax-effected basis as discussed above. ​ At December 31, 2023, the Company has available U.S. federal loss carryforwards of $76.8 million, of which $56.2 million have no expiration date, and $20.6 million that expire at various dates between 2027 and 2037; U.S. Foreign Tax Credits of $2.0 million that expire at various dates between 2024 and 2026; state of Colorado tax loss carryforwards of $53.0 million, of which $29.8 million expire at various dates between 2024 and 2037 and $23.1 million that have no expiration; available state of Michigan tax loss carryforwards of $16.8 million expiring at various dates between 2024 and 2033; Wisconsin tax loss carryforwards of $4.0 million expiring in 2042; and Canadian tax loss carryforwards of $23.0 million that expire between 2026 and 2043. Mexico Mining Taxation Mining entities in Mexico are subject to two mining duties, in addition to the 30% Mexico corporate income tax: (i) a “special” mining duty of 7.5% of taxable income as defined under Mexican tax law (also referred to as “mining royalty tax”) on extraction activities performed by concession holders, and (ii) the “extraordinary” mining duty of 0.5% on gross revenue from the sale of gold, silver, and platinum. The mining royalty tax is generally applicable to earnings before income tax, depreciation, depletion, amortization, and interest. In calculating the mining royalty tax, there are no deductions related to depreciable costs from operational fixed assets, but prospecting and exploration expenses are amortized at 10% rate in a straight line. Both duties are tax deductible for income tax purposes. As a result, our effective tax rate applicable to the Company’s Mexican operations is substantially higher than Mexico’s statutory rate. The Company periodically transfers funds from its Mexican wholly-owned subsidiary to the U.S. in the form of dividends. Mexico requires a 10% withholding tax on dividends on all post-2013 earnings. The Company began distributing post-2013 earnings from Mexico in 2018. According to the existing U.S. – Mexico tax treaty, the dividend withholding tax between these countries is reduced to 5% if certain requirements are met. The Company determined that it had met such requirements and paid a 5% withholding tax on dividends received from Mexico, and as a result, paid $0.1 million and $1.3 million for years ending December 31, 2023 and 2022, respectively. Other Tax Disclosures The Company files U.S. and various state income tax returns, as well as foreign income tax returns in Canada and Mexico, with varying statutes of limitations. In general, the statute of limitations is three years in the United States and in Canada. However, the Company has net operating loss and tax credit carryforward balances beginning in the tax year ended December 31, 2007 for the United States and in the tax year ended December 31, 2006 for Canada. As a result, all tax years since 2007 remain open to examination in the United States and all tax years since 2006 remain open to examination in Canada. In Mexico, the statute of limitations is generally five years, which currently is 2018 and forward. The Company is under audit for the tax year ended December 31, 2015. All other years are closed to inspection outside of the standard statute of limitations window in Mexico. The U.S. Treasury Department issued final regulations in July 2020 concerning global intangible low-taxed income, commonly referred to as GILTI tax, which was introduced by the Tax Act of 2017. The GILTI provisions impose a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. The final tax regulations allow income to be excluded from GILTI tax that are subject to an effective tax rate higher than 90% of the U.S. tax rate. The Company determined that it is not subject to GILTI tax due to this high tax exception rule. In October 2023, the Company received a notification from the Mexican Tax Administration Services (“SAT”) with a sanction of 331 million pesos (approximately $19.5 million) as the result of a 2015 tax audit that began in 2021. The 2015 tax audit performed by SAT encompassed various tax aspects, including but not limited to intercompany transactions, mining royalty tax, and extraordinary mining tax. Management is in process of disputing this tax notification and sent a letter of protest to the tax authorities along with providing all requested documentation. Management intends to pursue legal avenues of protest, including filing a lawsuit with the Mexico court system if necessary, to ensure that these adjustments are removed. Management believes the position taken on the 2015 income tax return meets the more likely than not threshold and that as of the years ended December 31, 2023 and 2022, the Company has no liability for uncertain tax positions. If the Company were to determine there was an unrecognized tax benefit, the Company would recognize the liability and related interest and penalties within income tax (benefit) provision. ​

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2023
Prepaid Expenses And Other Current Assets
Prepaid Expenses and Other Current Assets	5 . Prepaid Expenses and Other Current Assets At December 31, 2023 and 2022, prepaid expenses and other current assets consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Advances to suppliers ​ $ 266 ​ $ 867 Prepaid insurance ​ ​ 1,103 ​ ​ 1,298 Prepaid income tax ​ ​ 4,589 ​ ​ 432 Other current assets ​ ​ 654 ​ ​ 1,242 Total ​ $ 6,612 ​ $ 3,839 ​ IVA taxes receivable, net is a value added (“IVA”) tax in Mexico assessed on purchases of materials and services and sales of products. Likewise, businesses owe IVA taxes as the business sells a product and collects IVA taxes from its customers. Businesses are generally entitled to recover the taxes they have paid related to purchases of materials and services, either as a refund or credit to IVA tax payable. Amounts recorded as IVA taxes in the consolidated financial statements represent the net estimated IVA tax receivable or payable, since there is a legal right of offset of IVA taxes. As of December 31, 2023 and 2022, this resulted in an asset balance of $0.4 million and $0.8 million, respectively, which is included in other current assets above. ​

Property, Plant and Mine Develo

Property, Plant and Mine Development, net	12 Months Ended
	Dec. 31, 2023
Property, Plant and Mine Development, net
Property, Plant and Mine Development, net	6. Property, Plant and Mine Development, net At December 31, 2023 and 2022, property, plant and mine development consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Asset retirement costs ("ARO asset") ​ $ 6,227 ​ $ 7,449 Construction-in-progress ​ ​ 243 ​ ​ 351 Furniture and office equipment ​ ​ 1,781 ​ ​ 1,732 Land ​ ​ 9,033 ​ ​ 9,033 Mineral interest ​ ​ 79,543 ​ ​ 79,543 Light vehicles and other mobile equipment ​ ​ 2,126 ​ ​ 2,327 Machinery and equipment ​ ​ 42,887 ​ ​ 41,343 Mill facilities and infrastructure ​ ​ 36,396 ​ ​ 35,917 Mine development ​ ​ 115,230 ​ ​ 105,263 Software and licenses ​ ​ 1,554 ​ ​ 1,552 Subtotal ​ ​ 295,020 ​ ​ 284,510 Accumulated depreciation and amortization ​ ​ (156,394) ​ ​ (131,947) Total ​ $ 138,626 ​ $ 152,563 ​ Asset retirement credits of $1.2 million were recognized on December 31, 2023 due to changes in estimates in the reclamation model, also decreasing the asset retirement obligations. Please see Item 8. Financial Statements and Supplementary Data—Note 10. Reclamation and Remediation

Other Non-current Assets

Other Non-current Assets	12 Months Ended
	Dec. 31, 2023
Other Non-current Assets
Other Non-current Assets	7 . Other Non-current Assets At December 31, 2023 and 2022, other non-current assets consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Investment in Maritime ​ $ 1,596 ​ $ 1,559 Investment in Green Light Metals ​ ​ 3,698 ​ ​ 3,611 Other non-current assets ​ ​ 170 ​ ​ 339 Total ​ $ 5,464 ​ $ 5,509 ​ On September 22, 2022, the Company invested C$2.4 million (or $1.7 million) in the common shares of Maritime Resources Corp. The 47 million shares purchased represented 9.9% of the issued and outstanding shares of Maritime at the time of purchase. As of both December 31, 2023, and December 31, 2022, the fair value of this investment was $1.6 million. On December 28, 2022, Gold Resource Corporation received 12.25 million common shares of Green Light Metals as a settlement for a promissory note receivable acquired with the Aquila acquisition. This represented approximately 28.5% ownership in Green Light Metals at the time. As of December 31, 2022, the fair value of this equity investment was $3.6 million. The contract included a top-up provision that would result in additional common shares being issued to the Company if any Green Light Metals financing was raised at less than C$0.40 per share before March 31, 2023. After this settlement and before March 31, 2023, additional financing was raised by Green Light Metals at C$0.40 per share. Therefore, the top-up provision was not triggered, and no additional shares were received. As of December 31, 2023, and December 31, 2022, the fair value of this equity investment was $3.7 million and $3.6 million, respectively.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2023
Accrued Expenses and Other Liabilities
Accrued Expenses and Other Liabilities	8. Accrued Expenses and Other Liabilities At December 31, 2023 and 2022, accrued expenses and other current and non-current liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Accrued royalty payments ​ $ 726 ​ $ 1,787 Share-based compensation liability - current ​ ​ 67 ​ ​ - Employee profit sharing obligation ​ ​ 67 ​ ​ 2,206 Other payables ​ ​ 888 ​ ​ 1,204 Total accrued expenses and other current liabilities ​ $ 1,748 ​ $ 5,197 ​ ​ ​ ​ ​ ​ ​ Accrued non-current labor obligation ​ $ 1,167 ​ $ 1,050 Share-based compensation liability ​ ​ 320 ​ ​ 884 Other long-term liabilities ​ ​ 29 ​ ​ 556 Total other non-current liabilities ​ $ 1,516 ​ $ 2,490 ​ Under Mexican law, employees are entitled to receive statutory profit sharing (Participacion a los Trabajadores de las Utilidades or “PTU”) payments. The required cash payment to employees in the aggregate is equal to 10% of their employer’s profit subject to PTU, which differs from profit determined under U.S. GAAP. In 2023, $0.1 million for PTU was recorded in current liabilities and production costs, as well as $1.2 million for statutory employee severance benefits recorded in other long-term liabilities and other expenses. In 2022, $2.2 million for PTU was recorded in current liabilities and production costs, as well as $1.1 million for statutory employee severance benefits recorded in other long-term liabilities and other expenses. PSU and DSU awards contain a cash settlement feature and are therefore classified as liability instruments and are marked to fair value each reporting period. Please see Item 8. Financial Statements and Supplementary Data—Note 15. Stock-Based Compensation

Gold and Silver Stream Agreemen

Gold and Silver Stream Agreements	12 Months Ended
	Dec. 31, 2023
Gold and Silver Stream Agreements
Gold and Silver Stream Agreements	9. Gold and Silver Stream Agreements The following table presents the Company’s liabilities related to the Gold and Silver Stream Agreements as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Liability related to the Gold Stream Agreement ​ $ 21,002 ​ $ 20,881 Liability related to the Silver Stream Agreement ​ ​ 23,930 ​ ​ 22,585 Total liability ​ $ 44,932 ​ $ 43,466 ​ Periodic interest expense incurred based on an implied interest rate. The implied interest rate is determined based on the timing and probability of future production and a 6% discount rate. Interest expense is recorded to the Consolidated Statements of Operations and the gold and silver stream agreement liability on the Consolidated Balance Sheet. The stream agreements contain customary provisions regarding default and security. In the event that our subsidiary defaults under the stream agreements, including by failing to achieve commercial production by an agreed upon date, it may be required to repay the deposit plus accumulated interest at a rate agreed with Osisko. If the Company fails to do so, Osisko may elect to enforce its remedies as a secured party and take possession of the assets that comprise the Back Forty Project. Gold Streaming Agreement In November 2017, Aquila entered into a stream agreement with Osisko Bermuda Limited (“OBL”), a wholly-owned subsidiary of Osisko Gold Royalties Ltd (TSX & NYSE: OR), pursuant to which OBL agreed to commit approximately $55 million to Aquila through a gold stream purchase agreement. In June 2020, Aquila amended its agreement with Osisko, reducing the total committed amount to $50 million, as well as adjusting certain milestone dates under the gold stream to align with the current project development timeline. Aquila had received a total of $20 million of the committed funds at the time of the Gold Resource Corporation acquisition. Remaining deposits from OBL are $5 million upon receipt of permits required for the development and operation of the Back Forty Project and $25 million upon the first drawdown of an appropriate project debt finance facility. OBL has been provided a general security agreement over the Back Forty Project, which consists of the subsidiaries of Gold Resource Acquisition Sub. Inc., a 100% owned subsidiary of Gold Resource Corporation. The initial term of the agreement is for 40 years, automatically renewable for successive ten-year periods. The agreement is subject to certain operating and financial covenants, which are in good standing as of December 31, 2023. Subsequent to year end, the Company secured an amendment to the stream agreement that deferred the required completion of certain operational milestones related to permitting from 2024 to 2026. The $20 million received from OBL through December 31, 2023 is shown as a long-term liability on the Consolidated Balance Sheet, along with an implied interest. The implied interest rate is applied on the OBL advance payments and calculated on the total expected life-of-mine production to be deliverable using an estimated gold price and a discount rate of 6%. As the remaining $30 million deposit is subject to the completion of specific milestones and the satisfaction of certain other conditions, this amount is not reflected on the Consolidated Balance Sheet. ​ Per the terms of the gold stream agreement, OBL will purchase 18.5% of the refined gold from Back Forty (the “Threshold Stream Percentage”) until the Company has delivered 105,000 ounces of gold (the “Production Threshold”). Upon satisfaction of the Production Threshold, the Threshold Stream Percentage will be reduced to 9.25% of the refined gold (the “Tail Stream”). In exchange for the refined gold delivered under the Stream Agreement, OBL will pay the Company ongoing payments equal to 30% of the spot price of gold on the day of delivery, subject to a maximum payment of $600 per ounce. Where the market price of gold is greater than the price paid, the difference realized from the sale of the gold will be applied against the deposit received from Osisko. Please see Item 8. Financial Statements and Supplementary Data—Note 11. Commitments and Contingencies . Silver Stream Agreement Through a series of contracts, Aquila executed a silver stream agreement with OBL to purchase 85% of the silver produced and sold at the Back Forty Project. A total of $17.2 million has been advanced under the agreement as of December 31, 2023. There are no future deposits remaining under the agreement. The initial term of the agreement is for 40 years, automatically renewable for successive ten-year periods. The agreement is subject to certain operating and financial covenants, which are in good standing as of December 31, 2023. Subsequent to year end, the Company secured an amendment to the stream agreement that deferred the required completion of certain operational milestones related to permitting from 2024 to 2026. Per the terms of the silver stream agreement, OBL will purchase 85% of the silver produced from the Back Forty Project at a fixed price of $4 per ounce of silver. Where the market price of silver is greater than $4 per ounce, the difference realized from the sale of the silver will be applied against the deposit received from Osisko. The $17.2 million received from OBL through December 31, 2023 is shown as a long-term liability on the Consolidated Balance Sheet and includes an implied interest rate. The implied interest rate is applied on the OBL advance payments and calculated on the total expected life-of-mine production to be deliverable using an estimated silver price and a discount rate of 6%. Please see Item 8. Financial Statements and Supplementary Data—Note 11. Commitments and Contingencies .

Reclamation and Remediation

Reclamation and Remediation	12 Months Ended
	Dec. 31, 2023
Reclamation and Remediation
Reclamation and Remediation	10. Reclamation and Remediation The following table presents the changes in the Company’s reclamation and remediation obligations for the years ended December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Reclamation liabilities – balance at beginning of period ​ $ 1,949 ​ $ 1,833 Foreign currency exchange loss ​ ​ 284 ​ ​ 116 Reclamation liabilities – balance at end of period ​ ​ 2,233 ​ ​ 1,949 ​ ​ ​ ​ ​ ​ ​ Asset retirement obligation – balance at beginning of period (1) ​ ​ 8,417 ​ ​ 1,279 Changes in estimate (1) ​ ​ (1,221) ​ ​ 6,384 Liability for Aquila drillhole capping (2) ​ ​ 404 ​ ​ - Accretion ​ ​ 689 ​ ​ 668 Foreign currency exchange loss ​ ​ 1,273 ​ ​ 86 Asset retirement obligation – balance at end of period ​ ​ 9,562 ​ ​ 8,417 Total period end balance ​ $ 11,795 ​ $ 10,366 (1) In 2022, the Company updated its closure plan study, which resulted in a $6.4 million increase in the estimated liability and ARO asset. This increase is a result of formalizing a tailings storage facility closure plan, the addition of the dry stack facility and the filtration plant, and the increase of inflation in Mexico. In 2023, the Company updated its closure plan study to include current disturbances, which resulted in a $1.2 million decrease in the estimated liability and ARO asset. (2) As of December 31, 2022, the Company reported the liability of $0.4 million to remediate exploration drill holes at the Back Forty Project in Michigan, USA in other non-current liabilities. As of March 31, 2023, this liability of $0.4 million was reclassified to non-current reclamation and remediation liabilities. ​ The Company’s undiscounted reclamation liabilities of $2.2 million and $1.9 million as of December 31, 2023 and 2022, respectively, are related to DDGM in Mexico. These represent reclamation liabilities that were expensed through 2013 before proven and probable Mineral Reserves were established and the Company was considered to be a development stage entity; therefore, most of the costs, including asset retirement costs, were not allowed to be capitalized as part of our property, plant, and mine development. The Company’s asset retirement obligations reflect the additions to the asset for reclamation and remediation costs in property, plant & mine development, post 2013 development stage status, which were discounted using a credit adjusted risk-free rate of 8%. As of December 31, 2023 and 2022, the Company’s asset retirement obligation related to the Don David Gold Mine in Mexico was $9.6 million and $8.4 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies.
Commitments and Contingencies	11. Commitments and Contingencies As of December 31, 2023 and 2022, the Company had equipment purchase commitments aggregating approximately $0.8 million and $1.2 million, respectively. Contingent Consideration With the Aquila acquisition, the Company assumed a contingent consideration. On December 30, 2013, Aquila’s shareholders approved the acquisition of 100% of the shares of HudBay Michigan Inc. (“HMI”), a subsidiary of HudBay Minerals Inc. (“HudBay”), effectively giving Aquila 100% ownership in the Back Forty Project (the “HMI Acquisition”). Pursuant to the HMI Acquisition, HudBay’s 51% interest in the Back Forty Project was acquired in consideration for the issuance of common shares of Aquila, future milestone payments tied to the development of the Back Forty Project and a 1% net smelter return royalty on production from certain land parcels in the project. The issuance of shares and 1% net smelter obligations were settled before the Company acquired Aquila. The contingent consideration is composed of the following: The value of future installments is based on C$9 million tied to the development of the Back Forty project as follows: a. C $3 million payable on completion of any form of financing for purposes including the commencement of construction of Back Forty, up to 50% of the C $3 million can be paid, at the Company’s option in Gold Resource Corporation shares with the balance payable in cash; b. C $2 million payable in cash 90 days after the commencement of commercial production; c. C $2 million payable in cash 270 days after the commencement of commercial production, and; d. C $2 million payable in cash 450 days after the commencement of commercial production. ​ Initially, the company intended to pay the first C$3 million in 2023 to prevent HudBay’s 51% buy-back option in the Back Forty Project. Management later decided that it was more likely than not that HudBay would not exercise its buy-back option, and consequently, this amount was not paid. Additionally, since financing of the project is not expected in 2024, this liability was moved to long-term. As of the end of January 2024, by the contractual deadline, HudBay did not exercise its buy-back option, and thus, it is forfeited. The total value of the contingent consideration at December 31, 2023 and 2022 was $3.5 million and $4.4 million, respectively. The contingent consideration is adjusted for the time value of money and the likelihood of the milestone payments. Any future changes in the value of the contingent consideration is recognized in other expense, net, in the Consolidated Statements of Operations . The following table shows the change in the balance of the contingent consideration: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Beginning Balance of contingent consideration: ​ ​ ​ ​ ​ ​ Current contingent consideration ​ $ 2,211 ​ $ - Non-current contingent consideration ​ ​ 2,179 ​ ​ 4,603 ​ ​ $ 4,390 ​ $ 4,603 ​ ​ ​ ​ ​ ​ ​ Change in value ​ ​ (842) ​ ​ (213) ​ ​ ​ ​ ​ ​ ​ Ending Balance of contingent consideration: ​ ​ ​ ​ ​ ​ Current contingent consideration ​ $ - ​ $ 2,211 Non-current contingent consideration ​ ​ 3,548 ​ ​ 2,179 ​ ​ $ 3,548 ​ $ 4,390 ​ Other Contingencies The Company has certain other contingencies resulting from litigation, claims, and other commitments and is subject to a variety of environmental and safety laws and regulations incident to the ordinary course of business. The Company currently has no basis to conclude that any or all of such contingencies will materially affect its financial position, results of operations, or cash flows. However, in the future, there may be changes to these contingencies, or additional contingencies may occur, any of which might result in an accrual or a change in current accruals recorded by the Company, and there can be no assurance that their ultimate disposition will not have a material adverse effect on the Company’s financial position, results of operations or cash flow. With the acquisition of Aquila Resources Inc. on December 10, 2021, the Company assumed substantial liabilities that relate to the gold and silver stream agreements with Osisko Bermuda Limited. Under the agreements, Osisko deposited a total of $37.2 million upfront in exchange for a portion of the future gold and silver production from the Back Forty Project. The stream agreements contain customary provisions regarding default and security. In the event that our subsidiary defaults under the stream agreements, including failing to achieve commercial production at a future date, it may be required to repay the deposit plus accumulated interest at a rate agreed with Osisko. If it fails to do so, Osisko may be entitled to enforce its remedies as a secured party and take possession of the assets that comprise the Back Forty Project.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2023
Shareholders' Equity
Shareholders' Equity	12. Shareholders’ Equity On February 13, 2023, the Company announced the suspension of future quarterly dividends to protect our balance sheet and to focus capital resources on exploration and growth opportunities. Therefore, in the year ended December 31, 2023, the Company neither declared nor paid dividends. The Company declared and paid dividends of $3.5 million, or $0.04 per share, for the year ended December 31, 2022. The Company’s At-The-Market Offering Agreement with H.C. Wainwright & Co., LLC (the “Agent”), which was entered into in November 2019 (the “ATM Agreement”), pursuant to which the Agent agreed to act as the Company’s sales agent with respect to the offer and sale from time to time of the Company’s common stock having an aggregate gross sales price of up to $75.0 million, was renewed in June 2023. During the year ended December 31, 2023, an aggregate of 195,872 shares of the Company’s common stock were sold through the ATM Agreement,

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2023
Derivatives
Derivatives	13. Derivatives Embedded Derivatives Concentrate Sales Concentrate sales contracts contain embedded derivatives due to the provisional pricing terms for shipments pending final settlement. At the end of each reporting period, the Company records an adjustment to accounts receivable and revenue to reflect the mark-to-market adjustments for outstanding provisional invoices based on forward metal prices. Please see Item 8. Financial Statements and Supplementary Data—Note 19. Fair Value Measurement The following table summarizes the Company’s unsettled sales contracts at December 31, 2023, with the quantities of metals under contract subject to final pricing occurring through February 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ ​ Total ​ ​ (ounces) ​ (ounces) ​ (tonnes) ​ (tonnes) ​ (tonnes) ​ ​ ​ Under contract ​ ​ 2,908 ​ ​ 252,324 ​ ​ 217 ​ ​ 1,678 ​ ​ 2,236 ​ ​ ​ Average forward price (per ounce or tonne) ​ $ 1,983 ​ ​ 23.45 ​ ​ 8,337 ​ ​ 2,151 ​ ​ 2,499 ​ ​ ​ Unsettled sales contracts value (in thousands) ​ $ 5,767 ​ $ 5,917 ​ $ 1,809 ​ $ 3,609 ​ $ 5,588 ​ $ 22,690 ​ Other Derivatives Zinc zero cost collar Derivative instruments that are not designated as hedging instruments are required to be recorded on the balance sheet at fair value. Changes in fair value impact the Company’s earnings through mark-to-market adjustments until the physical commodity is delivered or the financial instrument is settled. As of December 31, 2022, the hedge program concluded, but the Company may utilize similar programs in the future to manage near-term exposure to cash flow variability from metal prices. Effective May 18, 2021, GRC entered into a Trading Agreement with Auramet International LLC that governs nonexchange traded, over-the-counter, spot, forward, and option transactions on both a deliverable and non-deliverable basis involving various metals and currencies, and these contracts are not designated as hedging instruments. Due to the conclusion of the current program, in 2023, the Company had neither realized nor unrealized gains or losses, compared to a realized loss of $2.0 million and an unrealized gain of $1.8 million in 2022. The Company manages credit risk by selecting counterparties that it believes to be financially strong, by entering into netting arrangements with counterparties, and by requiring other credit risk mitigants, as appropriate. The Company actively evaluates the creditworthiness of its counterparties, assigns appropriate credit limits, and monitors credit exposures against those assigned limits.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2023
Employee Benefits
Employee Benefits	14. Employee Benefits Effective October 2012, the Company adopted a profit-sharing plan (the “Plan”) which covers all U.S. employees. The Plan meets the requirements of a qualified retirement plan pursuant to the provisions of Section 401(k) of the Internal Revenue Code. The Plan also provides eligible employees the opportunity to make tax deferred contributions to a retirement trust account up to 90% of their qualified wages, subject to the IRS annual maximums. On April 23, 2021, a decree that reforms labor outsourcing in Mexico was published in the Federation’s Official Gazette. This decree amended the outsourcing provisions, whereby operating companies can no longer source their labor resources used to carry out the core business functions from service entities or third-party providers. Under Mexican law, employees are entitled to receive statutory profit sharing (Participacion a los Trabajadores de las Utilidades or “PTU”) payments. The required cash payment to employees in the aggregate is equal to 10% of their employer’s profit subject to PTU, which differs from profit determined under U.S. GAAP. Please see Item 8. Financial Statements and Supplementary Data—Note 8. Accrued Expenses and Other Liabilities

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2023
Stock-Based Compensation
Stock-Based Compensation	15. Stock-Based Compensation The Company’s compensation program comprises three main elements: base salary, an annual short-term incentive plan (“STIP”) cash award, and long-term equity-based incentive compensation (“LTIP”) in the form of stock options, restricted stock units (“RSUs”), performance stock units (“PSUs”), and deferred stock units (“DSUs”). ​ The Gold Resource Corporation 2016 Equity Incentive Plan (the “Incentive Plan”) allows for the issuance of up to 5 million shares of common stock in the form of incentive and non-qualified stock options, stock appreciation rights, RSUs, stock grants, stock units, performance shares, PSUs, and performance cash. Effective January 1, 2021, the Company’s Board of Directors, on the recommendation of the Compensation Committee, implemented a program to issue DSUs, which are qualifying instruments under the terms of the Company’s Incentive Plan, to eligible directors. Additionally, pursuant to the terms of the Incentive Plan, any award outstanding under the prior plan that is terminated, expired, forfeited, or canceled for any reason, will be available for grant under the Incentive Plan. The Company’s STIP provides for an annual cash bonus payable upon achievement of specified performance metrics for its management team. As of December 31, 2023, we accrued $ 0.8 million payable in cash related to the STIP program. As of December 31, 2022, we accrued $ 1.0 million related to the program Stock-Based Compensation Expense Stock-based compensation expense for stock options, RSUs, PSUs, and DSUs is as follows: ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ 2023 ​ 2022 ​ (in thousands) Stock options $ 342 ​ $ 646 Restricted stock units ​ 537 ​ ​ 631 Performance stock units ​ (168) ​ ​ 332 Deferred stock units ​ (30) ​ ​ 346 Total $ 681 ​ $ 1,955 ​ The estimated unrecognized stock-based compensation expense from unvested options and RSUs, as of December 31, 2023, was nil and $0.7 million, respectively, and is expected to be recognized over the weighted average remaining periods of nil Stock Options ​ A summary of stock option activity under the Incentive Plan for the years ended December 31, 2023 and 2022 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock Options ​ Weighted Average Exercise Price (per share) ​ Weighted Average Remaining Contractual Term (in years) ​ Aggregate Intrinsic Value (in thousands) Outstanding as of December 31, 2021 ​ 2,454,700 ​ $ 4.62 ​ 4.58 ​ $ 109 Granted ​ 320,816 ​ ​ 2.41 ​ ​ ​ ​ ​ Exercised ​ (355,000) ​ ​ 1.31 ​ ​ ​ ​ ​ Expired or Forfeited ​ (945,200) ​ ​ 7.78 ​ ​ ​ ​ ​ Outstanding as of December 31, 2022 ​ 1,475,316 ​ $ 2.90 ​ 7.38 ​ $ 18 Expired or Forfeited ​ (634,704) ​ ​ 2.79 ​ ​ ​ ​ ​ Outstanding as of December 31, 2023 ​ 840,612 ​ $ 2.99 ​ 7.38 ​ $ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and exercisable as of December 31, 2023 ​ 593,740 ​ $ 2.98 ​ 7.36 ​ $ - ​ During the years ended December 31, 2023 and 2022 stock options of nil and 320,816, respectively, were granted. The weighted-average fair value of options per share granted during the years ended December 31, 2023 and 2022 was nil and $1.06, respectively. The total intrinsic value of options exercised during the years ended December 31, 2023 and 2022, was nil and $0.1 million, respectively. The total fair value of options vested during the years ended December 31, 2023 and 2022 was nil and $1.0 million, respectively. Stock options of nil and 355,000 were exercised during the years ended December 31, 2023 and December 31, 2022, respectively. The 2022 exercises were settled in cash. The following table summarizes information about stock options outstanding at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Exercisable Range of Exercise Prices ​ Number of Options ​ Weighted Average Remaining Contractual Term (in years) ​ Weighted Average Exercise Price (per share) ​ Number of Options ​ Weighted Average Exercise Price (per share) $0.00 - $2.50 ​ 240,612 ​ 8.22 ​ $ 2.41 ​ 160,407 ​ $ 2.41 $2.51 -$5.00 ​ 600,000 ​ 7.04 ​ $ 3.22 ​ 433,333 ​ $ 3.19 ​ ​ 840,612 ​ 7.38 ​ $ 2.99 ​ 593,740 ​ $ 2.98 ​ The assumptions used to determine the value of stock-based awards granted in 2022 under the Black-Scholes method are summarized below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 Risk-free interest rate ​ 2.13 % Dividend yield ​ 1.66 % Expected volatility ​ 56.39 % Expected life in years ​ 5 ​ ​ Restricted Stock Units A summary of RSU activity under the Incentive Plan for the years ended December 31, 2023 and 2022 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted Stock Units ​ Aggregate Intrinsic Value (in thousands) ​ Weighted Average Remaining Contractual Term (in years) Nonvested as of December 31, 2021 ​ 105,799 ​ $ 165 ​ 1.07 Granted ​ 611,681 ​ ​ ​ ​ ​ Vested but not redeemed (deferred) ​ (39,298) ​ ​ ​ ​ ​ Vested and redeemed ​ (80,169) ​ ​ ​ ​ ​ Forfeited ​ (22,465) ​ ​ ​ ​ ​ Nonvested as of December 31, 2022 ​ 575,548 ​ $ 881 ​ 1.04 Granted ​ 779,192 ​ ​ ​ ​ ​ Vested but not redeemed (deferred) ​ (106,955) ​ ​ ​ ​ ​ Vested and redeemed ​ (100,057) ​ ​ ​ ​ ​ Vested and forfeited for net settlement ​ (30,181) ​ ​ ​ ​ ​ Forfeited ​ (270,292) ​ ​ ​ ​ ​ Nonvested as of December 31, 2023 ​ 847,255 ​ $ 319 ​ 1.93 ​ RSUs of 779,192 and 611,681 respectively, were granted during the years ended December 31, 2023 and 2022. The weighted-average fair value per share of RSUs granted during the years ended December 31, 2023 and 2022 was $0.92 and $1.97, respectively. The grant date fair value of RSUs is determined by the 20-day volume weighted average price of the Company’s common shares at grant date. The total intrinsic value of RSUs vested during the years ended December 31, 2023 and 2022 was $0.6 million and $0.3 million, respectively. During the years ended December 31, 2023 and 2022, 0.1 million and 39 thousand RSUs were deferred, respectively. Performance Stock Units A summary of PSU activity under the Incentive Plan for the years ended December 31, 2023 presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Performance Share Units ​ ​ Liability Balance (in thousands) Outstanding as of December 31, 2021 ​ - ​ ​ - Granted ​ 695,041 ​ ​ ​ Outstanding as of December 31, 2022 ​ 695,041 ​ ​ 332 Granted ​ 534,890 ​ ​ ​ Forfeited ​ (349,005) ​ ​ ​ Outstanding as of December 31, 2023 ​ 880,926 ​ ​ 164 ​ Starting in 2022, the Company’s Board of Directors approved granting performance share units to the Company’s management team. PSUs cliff vest in three years based on the relative total shareholder return of a predetermined peer group and are expected to be settled in cash. These awards contain a cash settlement feature and are therefore classified as liability and are marked to fair value each reporting period based on the relative total shareholder return of a predetermined peer group and the Company’s stock price. As of December 31, 2023 and 2022, the Company has liability of $0.2 million and $0.3 million, respectively, related to PSUs. As of December 31, 2023, of the $0.2 million liability, $0.1 million is short-term and expected to be paid out in 2024 according to the terms of the grant agreements. PSUs of 534,890 and 695,041, respectively, were granted during the years ended December 31, 2023 and 2022, with weighted-average fair value of $0.90 and $1.99 per unit, respectively. The grant date fair value of PSUs is determined by the 20-day vested Deferred Stock Units A summary of DSU activity under the Incentive Plan for the years ended December 31, 2023 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred Stock Units ​ ​ Liability Balance (in thousands) Outstanding as of December 31, 2021 ​ 131,960 ​ ​ 206 Granted ​ 214,357 ​ ​ ​ Granted in lieu of board fees ​ 14,382 ​ ​ ​ Outstanding as of December 31, 2022 ​ 360,699 ​ ​ 552 Granted ​ 278,663 ​ ​ ​ Granted in lieu of board fees ​ 108,011 ​ ​ ​ Granted in lieu of executive bonus ​ 212,407 ​ ​ ​ Redeemed ​ (373,489) ​ ​ ​ Outstanding as of December 31, 2023 ​ 586,291 ​ ​ 223 ​ Effective January 1, 2021, the Company’s Board of Directors, on the recommendation of the Compensation Committee, implemented a program to issue deferred stock units to members of the Company’s Board of Directors. Additionally, members of the Board may elect, at the beginning of each year, that a portion of their board fees be paid in DSUs rather than in cash. DSUs are qualifying instruments under the terms of the Company’s Incentive Plan, and therefore, do not require additional shareholder approval. The vesting and settlement terms of the DSUs are determined by the Compensation Committee at the time the DSUs are awarded. DSUs are vested immediately at grant and are redeemable in cash or shares—at the discretion of the Company—at the earlier of 10 years or upon the eligible directors’ termination and expected to be paid in cash. Termination is deemed to occur on the earliest of (1) the date of voluntary resignation or retirement of the director from the Board; (2) the date of death of the director; or (3) the date of removal of the director from the Board whether by shareholder resolution, failure to achieve re-election, or otherwise; and on which date the director is not a director or employee of the Company or any of its affiliates. These awards contain a cash settlement feature and are therefore classified as a liability and are marked to fair value each reporting period. As of December 31, 2023 and 2022, the Company has $0.2 million and $0.6 million, respectively, of other non-current liability related to the DSUs, based on the fair value of the Company’s stock price. DSUs of 278,663 and 214,357 were granted to the Board of Directors during the years ended December 31, 2023 and 2022, respectively. Additionally, DSUs of 108,011 and 14,382 were granted to the Board of Directors in lieu of board fees at their request during the years ended December 31, 2023 and 2022, respectively. DSUs of 212,407 and nil, respectively, were granted in lieu of executive bonuses during the years ended December 31, 2023 and 2022. The weighted-average grant date fair value per share of DSUs granted during the years ended December 31, 2023 and 2022 was $0.83 and $2.93, respectively. The grant date fair value of DSUs is determined by the 20-day forfeited

Zinc Zero Cost Collar

Zinc Zero Cost Collar	12 Months Ended
	Dec. 31, 2023
Zinc Zero Cost Collar
Zinc Zero Cost Collar	16. Zinc Zero Cost Collar During the years ended December 31, 2023 and 2022, the realized and unrealized losses related to the Company’s Zinc Zero Cost Collar are the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Realized (gain) loss on zinc zero cost collar ​ $ - ​ $ 2,014 Unrealized gain on zinc zero cost collar (1) ​ ​ - ​ ​ (1,844) Total ​ $ - ​ $ 170 ​ (1) Gains and losses due to changes in fair value are non-cash in nature until such time that they are realized through cash transactions. Effective May 18, 2021, GRC entered into Trading Agreement with Auramet International LLC that govern nonexchange traded, over-the-counter, spot, forward and option transactions on both a deliverable and non-deliverable basis involving various metals and currencies. In 2022, the Company had a realized loss of $2.0 million and an unrealized gain of $1.8 million related to the program. As of December 31, 2022, the current program concluded; therefore, in 2023, the Company had neither realized nor unrealized gains or losses related to the program. However, the Company may enter into similar zinc zero cost collar call and put options in the future. Please see Item 8. Financial Statements and Supplementary Data—Note 13. Derivatives in for additional information.

Other Expense, Net

Other Expense, Net	12 Months Ended
	Dec. 31, 2023
Other Expense, net
Other Expense, net	17. Other Expense, Net During the years ended December 31, 2023 and 2022, other expense, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Unrealized currency exchange (gain) loss (1) ​ $ (174) ​ $ 1,286 Realized currency exchange loss ​ ​ 860 ​ ​ 121 Realized and unrealized loss (gain) from gold and silver rounds, net ​ ​ (12) ​ ​ (28) Loss on disposal of fixed assets ​ ​ 13 ​ ​ 330 Interest on streaming liabilities ​ ​ 1,466 ​ ​ 906 Severance ​ ​ 1,619 ​ ​ 688 Other expense (income) ​ ​ (408) ​ ​ 985 Total ​ $ 3,364 ​ $ 4,288 ​ (1) Gains and losses due to changes in fair value are non-cash in nature until such time that they are realized through cash transactions.

Net Loss per Common Share

Net Loss per Common Share	12 Months Ended
	Dec. 31, 2023
Net Loss per Common Share
Net Loss per Common Share	18. Net Loss per Common Share Basic loss per common share is calculated based on the weighted average number of shares of common stock outstanding for the period. Diluted Loss per common share is calculated based on the assumption that stock options outstanding, which have an exercise price less than the average market price of the Company’s common stock during the period, would have been exercised on the later of the beginning of the period or the date granted and that the funds obtained from the exercise were used to purchase common shares at the average market price during the period. All of the Company’s restricted stock units are considered to be dilutive. The effect of the Company’s dilutive securities is calculated using the treasury stock method, and only those instruments that result in a reduction in net income per common share are included in the calculation. Options to purchase 0.8 million shares of common stock at weighted average exercise prices of $2.99 were outstanding as of December 31, 2023 but had no dilutive effect due to the net loss. Options to purchase 1.5 million shares of common stock at weighted average exercise prices of $2.90 were outstanding as of December 31, 2022 but had no dilutive effect due to the net loss. Basic and diluted net loss per common share is calculated as follows: ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ December 31, ​ 2023 ​ 2022 Numerator: ​ ​ ​ ​ ​ Net loss (in thousands) $ (16,017) ​ $ (6,321) ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ Basic and diluted weighted average common shares outstanding ​ 88,514,243 ​ ​ 88,368,250 ​ ​ ​ ​ ​ ​ Basic and diluted net loss per common share $ (0.18) ​ $ (0.07) ​

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Dec. 31, 2023
Fair Value Measurement
Fair Value Measurement	19. Fair Value Measurement Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity.) As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. These assets and liabilities are remeasured for each reporting period. The following tables set forth certain of the Company’s assets and liabilities measured at fair value by level within the fair value hierarchy as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ ​ December 31, ​ December 31, ​ Input Hierarchy Level ​ ​ 2023 ​ 2022 ​ ​ ​ ​ (in thousands) ​ ​ Cash and cash equivalents ​ $ 6,254 ​ $ 23,675 ​ Level 1 Accounts receivable, net ​ $ 4,335 ​ $ 5,085 ​ Level 2 Investment in equity securities-Maritime ​ $ 1,596 ​ $ 1,559 ​ Level 1 Investment in equity securities-Green Light Metals ​ $ 3,698 ​ $ 3,611 ​ Level 3 ​ The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Cash and cash equivalents Accounts receivable, net provisionally priced sales have not yet settled as of the reporting date, the mark-to-market adjustment related to these invoices is included in accounts receivable as of each reporting date. At December 31, 2023 and 2022, the Company had an unrealized gain of $0.3 million and $0.6 million, respectively, included in its accounts receivable on the accompanying Consolidated Balance Sheets related to mark-to-market adjustments. Please see Item 8. Financial Statements and Supplementary Data—Note 13. Derivatives Investment in equity securities—Maritime: Investment in equity securities—Green Light Metals: Gains and losses related to changes in the fair value of these financial instruments were included in the Company’s Consolidated Statements of Operations as shown in the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ Statements of Operations Classification ​ ​ ​ 2023 ​ 2022 ​ ​ ​ Note ​ ​ ​ ​ ​ ​ ​ ​ Realized and unrealized derivative gain (loss), net 13 ​ $ (28) ​ $ (363) ​ Sales, net Realized gain (loss) on zinc zero cost collar 16 ​ $ - ​ $ (2,014) ​ Realized and unrealized loss on zinc zero cost collar Unrealized gain on zinc zero cost collar 16 ​ $ - ​ $ 1,844 ​ Realized and unrealized loss on zinc zero cost collar ​ Realized/Unrealized Derivatives, net The following tables summarize the Company’s realized/unrealized derivatives, net (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ Total For the year ended December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized gain (loss) ​ $ 295 ​ $ 334 ​ $ 6 ​ $ 174 ​ $ (511) ​ $ 298 Unrealized (loss) gain ​ ​ (40) ​ ​ (241) ​ ​ 4 ​ ​ (186) ​ ​ 137 ​ ​ (326) Total realized/unrealized derivatives, net ​ $ 255 ​ $ 93 ​ $ 10 ​ $ (12) ​ $ (374) ​ $ (28) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ Total For the year ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized loss ​ $ (79) ​ $ - ​ $ (127) ​ $ (150) ​ $ (364) ​ $ (720) Unrealized gain (loss) ​ ​ 136 ​ $ 433 ​ $ 7 ​ $ 153 ​ $ (372) ​ ​ 357 Total realized/unrealized derivatives, net ​ $ 57 ​ $ 433 ​ $ (120) ​ $ 3 ​ $ (736) ​ $ (363) ​

Supplementary Cash Flow Informa

Supplementary Cash Flow Information	12 Months Ended
	Dec. 31, 2023
Supplementary Cash Flow Information
Supplementary Cash Flow Information	20. Supplementary Cash Flow Information During the years ended December 31, 2023 and 2022, other operating adjustments and write-downs within the net cash provided by operations on the Consolidated Statements of Cash Flows consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Unrealized gain on gold and silver rounds ​ $ (14) ​ $ (63) Unrealized foreign currency exchange (gain) loss ​ ​ (174) ​ ​ 1,286 Loss on disposition of fixed assets ​ ​ 13 ​ ​ 408 Increase (decrease) in reserve for inventory ​ ​ 382 ​ ​ (264) Unrealized gain on zinc zero cost collar ​ ​ - ​ ​ (1,844) Other ​ ​ 384 ​ ​ 521 Total other operating adjustments ​ $ 591 ​ $ 44 ​

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2023
Segment Reporting
Segment Reporting	21. Segment Reporting As of December 31, 2023, the Company has organized its operations into three geographic regions. The geographic regions include Oaxaca, Mexico, Michigan, U.S.A. and Corporate and Other. Oaxaca, Mexico represents the Company’s only production stage property. Michigan, U.S.A. is an advanced exploration stage property. Intercompany revenue and expense amounts have been eliminated within each segment in order to report the net income (loss) on the basis that management uses internally for evaluating segment performance. The Company’s business activities that are not considered production stage or advanced exploration stage properties are included in Corporate and Other. The following table shows selected information from the Consolidated Balance Sheets relating to the Company’s segments (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaxaca, Mexico ​ Michigan, USA ​ Corporate and Other ​ Consolidated As of December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets ​ $ 25,155 ​ $ 116 ​ $ 1,224 ​ $ 26,495 Total non-current assets (1) ​ ​ 62,368 ​ ​ 93,287 ​ ​ 1,736 ​ ​ 157,391 Total assets ​ $ 87,523 ​ $ 93,403 ​ $ 2,960 ​ $ 183,886 Total current liabilities ​ $ 10,029 ​ ​ 59 ​ ​ 1,237 ​ $ 11,325 Total non-current liabilities ​ ​ 12,559 ​ ​ 62,792 ​ ​ 517 ​ ​ 75,868 Total shareholders' equity ​ ​ 64,935 ​ ​ 30,552 ​ ​ 1,206 ​ ​ 96,693 Total liabilities and shareholders' equity ​ $ 87,523 ​ $ 93,403 ​ $ 2,960 ​ $ 183,886 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets ​ $ 38,032 ​ $ 272 ​ $ 7,795 ​ $ 46,099 Total non-current assets (1) ​ ​ 69,269 ​ ​ 92,927 ​ ​ 1,803 ​ ​ 163,999 Total assets ​ $ 107,301 ​ $ 93,199 ​ $ 9,598 ​ $ 210,098 Total current liabilities ​ $ 20,035 ​ $ 3,352 ​ $ 1,295 ​ $ 24,682 Total non-current liabilities ​ ​ 11,460 ​ ​ 60,648 ​ ​ 1,544 ​ ​ 73,652 Total shareholders' equity ​ ​ 75,806 ​ ​ 29,199 ​ ​ 6,759 ​ ​ 111,764 Total liabilities and shareholders' equity ​ $ 107,301 ​ $ 93,199 ​ $ 9,598 ​ $ 210,098 ​ (1) In 2023, the total non-current assets included capital investments of $11.0 million in Oaxaca, Mexico, $0.4 million in Michigan, USA, and nil in Corporate and Other. In 2022, the total non-current assets included capital investments of $18.1 million in Oaxaca, Mexico, $0.1 million in Michigan, USA, and nil in Corporate and Other. The following table shows selected information from the Consolidated Statements of Operations relating to the Company’s segments (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaxaca, Mexico ​ Michigan, USA ​ Corporate and Other ​ Consolidated For the year ended December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, net ​ $ 97,728 ​ ​ - ​ ​ ​ ​ $ 97,728 Total mine cost of sales, including depreciation ​ ​ 102,913 ​ ​ 92 ​ ​ 38 ​ ​ 103,043 Exploration expense ​ ​ 4,167 ​ ​ 1,642 ​ ​ - ​ ​ 5,809 Total other costs and expenses, including G&A ​ ​ 2,693 ​ ​ 529 ​ ​ 7,406 ​ ​ 10,628 Income tax benefit ​ ​ (4,767) ​ ​ (695) ​ ​ (273) ​ ​ (5,735) Net loss ​ $ (7,278) ​ $ (1,568) ​ $ (7,171) ​ $ (16,017) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, net ​ $ 138,724 ​ $ - ​ $ - ​ $ 138,724 Total mine cost of sales, including depreciation ​ ​ 108,863 ​ ​ 75 ​ ​ 38 ​ ​ 108,976 Exploration expense ​ ​ 4,244 ​ ​ 8,805 ​ ​ - ​ ​ 13,049 Total other costs and expenses, including G&A ​ ​ 2,741 ​ ​ 1,415 ​ ​ 10,305 ​ ​ 14,461 Income tax provision (benefit) ​ ​ 8,061 ​ ​ (1,123) ​ ​ 1,621 ​ ​ 8,559 Net income (loss) ​ $ 14,815 ​ $ (9,172) ​ $ (11,964) ​ $ (6,321) ​

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Nature of Operations and Summary of Significant Accounting Policies
Nature of Operations	Nature of Operations Gold Resource Corporation (the “Company”) was organized under the laws of the State of Colorado on August 24, 1998. The Company is a producer of doré containing gold and silver and metal concentrates that contain gold, silver, copper, lead, and zinc in Oaxaca, Mexico. The Company also has 100% interest in the Back Forty Project, an advanced Exploration Stage Property, located in Menominee County, Michigan, USA.
Basis of Presentation	Basis of Presentation The consolidated financial statements included herein are expressed in United States dollars and conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of the Company, its Mexican subsidiary, Don David Gold Mexico S.A. de C.V., and Aquila Resources Inc (“Aquila) and its subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation.
Segment Reporting	Segment Reporting The Company has organized its operations into three geographic regions. The geographic regions include Oaxaca, Mexico, Michigan, U.S.A., and Corporate and Other. Oaxaca, Mexico represents the Company’s only production stage property. Michigan, U.S.A. is an advanced exploration stage property. The Company’s business activities that are not considered production stage or advanced exploration stage properties are included in Corporate and Other . Please see Note 21—Segment Reporting below for additional information.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. The more significant areas requiring the use of management estimates and assumptions relate to Mineral Resources and Mineral Reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of-production depreciation calculations; future metal prices; environmental remediation, reclamation and closure obligations; estimates of recoverable gold and other minerals in stockpiles; write-downs of inventory stockpiles to net realizable value; valuation allowances for deferred tax assets and liabilities; valuation of contingent considerations and gold and silver stream agreements; provisional amounts related to income tax effects of newly enacted tax laws; and stock-based compensation. Management routinely makes judgments and estimates about the effects of matters that are inherently uncertain and bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances. Actual results could differ from these estimates.
Reclassifications	Revisions of Previously Issued Financial Statements for Correction of Immaterial Errors In connection with the preparation of the Company’s financial statements for the period ended September 30, 2023, the Company’s management identified an immaterial error in prior period financial statements, whereby deferred tax liabilities and deferred tax assets attributable to different tax-paying components of the entity or to different tax jurisdictions were incorrectly offset. The Company has corrected the consolidated balance sheets as of December 31, 2022, for this immaterial error. The effects of these revisions are as follows. ​ Revision to the Consolidated Balance Sheet as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As filed as of ​ ​ ​ Revised as of ​ December 31, ​ Adjustments ​ December 31, ​ 2022 ​ ​ ​ 2022 ASSETS ​ ​ ​ ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ Total current assets $ 46,099 ​ $ - ​ $ 46,099 Property, plant, and mine development, net ​ 152,563 ​ ​ - ​ ​ 152,563 Deferred tax assets, net ​ - ​ ​ 5,927 ​ ​ 5,927 Other non-current assets ​ 5,509 ​ ​ - ​ ​ 5,509 Total assets $ 204,171 ​ $ 5,927 ​ $ 210,098 LIABILITIES AND SHAREHOLDERS' EQUITY ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities $ 24,682 ​ $ - ​ $ 24,682 Reclamation and remediation liabilities ​ 10,366 ​ ​ - ​ ​ 10,366 Gold and silver stream agreements liability ​ 43,466 ​ ​ - ​ ​ 43,466 Deferred tax liabilities, net ​ 9,224 ​ ​ 5,927 ​ ​ 15,151 Contingent consideration ​ 2,179 ​ ​ - ​ ​ 2,179 Other non-current liabilities ​ 2,490 ​ ​ - ​ ​ 2,490 Total liabilities ​ 92,407 ​ ​ 5,927 ​ ​ 98,334 Shareholders' equity: ​ ​ ​ ​ ​ ​ ​ ​ Total shareholders' equity ​ 111,764 ​ ​ - ​ ​ 111,764 Total liabilities and shareholders' equity $ 204,171 ​ $ 5,927 ​ $ 210,098
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of all cash balances and highly liquid investments with a remaining maturity of three months or less when purchased. Cash held in Mexican Pesos or Canadian Dollars is converted to U.S. Dollars at the closing exchange rate at year end.
Accounts Receivable, net	Accounts Receivable, net Accounts receivable consists of trade receivables, which are recorded net of allowance for credit losses from the sale of doré and metals concentrates, as well as net of an embedded derivative based on mark-to-market adjustments for outstanding provisional invoices based on forward metal prices. Please see Item 8. Financial Statements and Supplementary Data—Note 13. Derivatives Item 8. Financial Statements and Supplementary Data—Note 19. Fair Value Measurement
Inventories	Inventories The major inventory categories are set forth below: Stockpile Inventories : Concentrate Inventories Doré Inventory: Materials and Supplies Inventories Write-downs of inventory, when needed, are charged to production costs on the Consolidated Statements of Operations.
Property, Plant and Mine Development	Property, Plant, and Mine Development Land and Mineral Interests Mine Development Drilling costs incurred during the production phase for operational ore control are recorded as mine development and amortized using UOP. All other drilling and related costs are expensed as incurred. Mine development costs are amortized using the UOP method based on estimated recoverable ounces in Mineral Reserves. Property and Equipment Construction in Progress Depreciation and Amortization ​ ​ ​ ​ ​ ​ Range of Lives ​ Asset retirement costs ​ UOP ​ Furniture, computer and office equipment ​ 3 to 10 years ​ Light vehicles and other mobile equipment ​ 4 years ​ Machinery and equipment ​ UOP to 8 years ​ Mill facilities and related infrastructure ​ UOP ​ Mine development and mineral interests ​ UOP ​ Buildings and infrastructure ​ UOP to 4 years ​
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Asset impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the asset. If an impairment is indicated, a determination is made whether an impairment has occurred. Impairment losses are measured either 1) as the excess of carrying value over the total discounted estimated future cash flows, or 2) as the excess of carrying value over the fair value, using the expected fair value technique in the absence of an observable market price. Losses are charged to expense on the Company’s Consolidated Statements of Operations. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. Existing Mineral Resources and Mineral Reserves are included when estimating the fair value in determining whether the assets are impaired. The Company’s estimates of future cash flows are based on numerous assumptions, including expected gold and other commodity prices, production levels and costs, processing recoveries, capital requirements, and estimated salvage values. It is possible that actual future cash flows will be significantly different from the estimates, as actual future quantities of recoverable minerals, gold and other commodity prices, production levels and costs, and capital requirements are each subject to significant risks and uncertainties.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The recorded amounts of cash and cash equivalents, receivables from provisional concentrate sales, and accounts payable approximate fair value because of the short maturity of those instruments. The recorded amount for the equity investment in the common shares of Maritime is based on the closing share price of MAE.V on TSX-V. The company elected the fair value measurement option as the measurement basis for the equity investment in the common shares of Green Light Metals.
Treasury Stock	Treasury Stock Treasury stock represents shares of the Company’s common stock which have been repurchased on the open market at the prevailing market price at the time of purchase and have not been canceled. Treasury stock is shown at cost as a separate component of shareholders’ equity.
Revenue Recognition	Revenue Recognition The Company recognizes revenue from doré and concentrate sales. Doré sales Concentrate sales
Production Costs	Production Costs Production costs include labor and benefits, royalties, concentrate and doré shipping costs, mining costs, fuel and lubricants, legal and professional fees related to mine operations, stock-based compensation attributable to mine workers, materials and supplies, repairs and maintenance, explosives, site support, housing and food, insurance, reagents, travel, medical services, security equipment, office rent, tools, and other costs that support mining operations.
Exploration Costs	Exploration Costs Exploration costs are charged to expense as incurred. Costs to identify new Mineral Resources and to evaluate potential Mineral Resources are considered exploration costs. Exploration activities conducted within the defined Mineral Resources are capitalized.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation under the fair value recognition and measurement provisions of U.S. GAAP. Those provisions require all stock-based payments, including grants of stock options, restricted stock units (“RSUs”), performance share units (“PSUs”), and deferred share units (“DSUs”) to be measured based on the grant date fair value of the awards, with the resulting expense generally recognized on a straight-line basis in the Consolidated Statements of Operations over the period during which services are performed in exchange for the award. The majority of the awards are earned over a service period of three years. DSUs are earned immediately at grant and are expected to be paid out in cash in the future. PSUs and DSUs are considered liability instruments and marked-to-market each reporting period. The Company's estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee stock option exercise behaviors, additional stock option grants, and estimates of forfeitures.
Reclamation and Remediation Costs	Reclamation and Remediation Costs Reclamation costs are allocated to expense over the life of the related assets and are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation and remediation costs. Reclamation obligations are based in part on when the spending for an existing environmental disturbance will occur. The Company reviews the reclamation obligation at least on an annual basis. In 2014, the Company became a production stage company and therefore, started capitalizing asset retirement costs along with the asset retirement obligation. Please see Item 8. Financial Statements and Supplementary Data—Note 10. Reclamation and Remediation Accounting for reclamation and remediation obligations requires management to make estimates unique to each mining operation of the future costs expected to be incurred to complete the reclamation and remediation work required to comply with existing laws and regulations. Actual costs incurred in future periods could differ from the amounts estimated. Additionally, future changes to environmental laws and regulations could increase the extent of reclamation and remediation work required. Any such increases in future costs could materially impact the amounts charged to operations for reclamation and remediation.
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss is presented in the Consolidated Statements of Changes in Shareholders’ Equity. Accumulated other comprehensive loss is composed of foreign currency translation adjustment effects related to the historical adjustment when the functional currency was the Mexican peso for our Mexico subsidiary. This loss will remain on our Consolidated Balance Sheets until the sale or dissolution of our Mexico subsidiary.
Income and Mining Royalty Taxes	Income and Mining Royalty Taxes Income and Mining Royalty Taxes are computed using the asset and liability method. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial and tax reporting purposes and the effect of net operating loss and foreign tax credit carryforwards using enacted tax rates in effect in the years in which the differences are expected to reverse. Deferred tax assets and liabilities are evaluated to determine if it is more likely than not that they will be realized. Deferred tax liabilities and deferred tax assets attributable to different tax-paying components of the entity or to different tax jurisdictions are not netted against each other. Please see Item 8. Financial Statements and Supplementary Data—Note 4. Income Taxes
Net Loss Per Share	Net Loss Per Share Basic loss per share is calculated based on the weighted average number of common shares outstanding for the period. Diluted loss per share reflects the dilution that could occur if potentially dilutive securities, as determined using the treasury stock method, are converted into common stock. Potentially dilutive securities are excluded from the calculation when their inclusion would be anti-dilutive, such as periods when a net loss is reported or when the exercise price of the instrument exceeds the average fair market value of the underlying common stock.
Foreign Currency	Foreign Currency The functional currency for all of the Company’s subsidiaries is the United States dollar (“U.S. dollar”).
Concentration of Credit Risk	Concentration of Credit Risk The Company has considered and assessed the credit risk resulting from its concentrate sales and doré sales arrangements with its customers. In the event that the Company’s relationships with its customers are interrupted for any reason, the Company believes that it would be able to locate another entity to purchase its metals concentrates and doré bars; however, any interruption could temporarily disrupt the Company’s sale of its products and materially adversely affect operating results. Currently 100% of the Company’s total net sales from operations are coming from the Arista and Alta Gracia mines at DDGM, the Company’s Oaxaca, Mexico business segment. Sales from significant customers as a percentage of sales for the years ended December 31, 2023 and 2022 were the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ ​ 2023 ​ 2022 Customer A ​ 48 % ​ 38 % Customer B ​ 24 % ​ 33 % Customer C ​ 25 % ​ - % Customer D ​ - % ​ 24 % ​ The following table shows accounts receivable from significant customers as a percentage of total accounts receivable as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 Customer A ​ 46 % ​ 47 % Customer B ​ 33 % ​ 33 % Customer C ​ 21 % ​ - % Customer D ​ - % ​ 20 % ​ Some of the Company’s operating cash balances are maintained in accounts that currently exceed federally insured limits. The Company believes that the financial strength of the depositing institutions mitigates the underlying risk of loss. To date, these concentrations of credit risk have not had a significant impact on the Company’s financial position or results of operations.
Streaming Liabilities	Streaming Liabilities The Company presents the gold and silver streaming liabilities initially at fair value and subsequently accreted using a discount rate and risk factor probabilities. The discount rate is the Company’s estimated borrowing rate, and the probabilities consider the completion of the feasibility study, obtaining necessary permits, and the completion of the mine facilities. The adjustment in the value is the accretion of interest, which is included in other expense, net.

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Nature of Operations and Summary of Significant Accounting Policies
Revision of prior period financial statements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As filed as of ​ ​ ​ Revised as of ​ December 31, ​ Adjustments ​ December 31, ​ 2022 ​ ​ ​ 2022 ASSETS ​ ​ ​ ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ Total current assets $ 46,099 ​ $ - ​ $ 46,099 Property, plant, and mine development, net ​ 152,563 ​ ​ - ​ ​ 152,563 Deferred tax assets, net ​ - ​ ​ 5,927 ​ ​ 5,927 Other non-current assets ​ 5,509 ​ ​ - ​ ​ 5,509 Total assets $ 204,171 ​ $ 5,927 ​ $ 210,098 LIABILITIES AND SHAREHOLDERS' EQUITY ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities $ 24,682 ​ $ - ​ $ 24,682 Reclamation and remediation liabilities ​ 10,366 ​ ​ - ​ ​ 10,366 Gold and silver stream agreements liability ​ 43,466 ​ ​ - ​ ​ 43,466 Deferred tax liabilities, net ​ 9,224 ​ ​ 5,927 ​ ​ 15,151 Contingent consideration ​ 2,179 ​ ​ - ​ ​ 2,179 Other non-current liabilities ​ 2,490 ​ ​ - ​ ​ 2,490 Total liabilities ​ 92,407 ​ ​ 5,927 ​ ​ 98,334 Shareholders' equity: ​ ​ ​ ​ ​ ​ ​ ​ Total shareholders' equity ​ 111,764 ​ ​ - ​ ​ 111,764 Total liabilities and shareholders' equity $ 204,171 ​ $ 5,927 ​ $ 210,098
Summary of estimated economic lives of of depreciable assets	​ ​ ​ ​ ​ ​ Range of Lives ​ Asset retirement costs ​ UOP ​ Furniture, computer and office equipment ​ 3 to 10 years ​ Light vehicles and other mobile equipment ​ 4 years ​ Machinery and equipment ​ UOP to 8 years ​ Mill facilities and related infrastructure ​ UOP ​ Mine development and mineral interests ​ UOP ​ Buildings and infrastructure ​ UOP to 4 years ​
Concentration of Credit Risk	Currently 100% of the Company’s total net sales from operations are coming from the Arista and Alta Gracia mines at DDGM, the Company’s Oaxaca, Mexico business segment. Sales from significant customers as a percentage of sales for the years ended December 31, 2023 and 2022 were the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ ​ 2023 ​ 2022 Customer A ​ 48 % ​ 38 % Customer B ​ 24 % ​ 33 % Customer C ​ 25 % ​ - % Customer D ​ - % ​ 24 % ​ The following table shows accounts receivable from significant customers as a percentage of total accounts receivable as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 Customer A ​ 46 % ​ 47 % Customer B ​ 33 % ​ 33 % Customer C ​ 21 % ​ - % Customer D ​ - % ​ 20 %

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue
Summary of revenue from the sale of dore and concentrate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Doré sales, net ​ ​ ​ ​ ​ ​ Gold ​ $ 3,079 ​ $ 7,997 Silver ​ ​ 139 ​ ​ 230 Less: Refining charges ​ ​ (52) ​ ​ (59) Total doré sales, net ​ ​ 3,166 ​ ​ 8,168 Concentrate sales ​ ​ ​ ​ ​ ​ Gold ​ ​ 32,865 ​ ​ 46,322 Silver ​ ​ 24,066 ​ ​ 22,527 Copper ​ ​ 10,472 ​ ​ 11,987 Lead ​ ​ 9,540 ​ ​ 11,626 Zinc ​ ​ 29,225 ​ ​ 50,470 Less: Treatment and refining charges ​ ​ (11,578) ​ ​ (12,013) Total concentrate sales, net ​ ​ 94,590 ​ ​ 130,919 Realized gain (loss) - embedded derivative, net (1) ​ ​ 298 ​ ​ (720) Unrealized (loss) gain - embedded derivative, net ​ ​ (326) ​ ​ 357 Total sales, net ​ $ 97,728 ​ $ 138,724

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2023
Inventories
Summary of Inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Stockpiles - underground mine ​ $ 534 ​ $ 597 Concentrates ​ ​ 1,768 ​ ​ 3,271 Doré, net ​ ​ 169 ​ ​ 653 Subtotal - product inventories ​ ​ 2,471 ​ ​ 4,521 Materials and supplies (1) ​ ​ 6,823 ​ ​ 8,979 Total ​ $ 9,294 ​ $ 13,500 (1) Net of reserve for obsolescence of $0.5 million and $0.1 million as of December 31, 2023 and 2022, respectively.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Taxes
Components of net income before income taxes and extraordinary item	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) U.S. Operations ​ $ (8,958) ​ $ (18,317) Foreign Operations (1) ​ ​ (12,794) ​ ​ 20,555 Total (loss) income before income taxes ​ $ (21,752) ​ $ 2,238 ​ (1) Foreign operations are predominantly in Mexico, as activities in Canada are minimal.
Calculation of Income Taxes Provision	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Current taxes: ​ ​ State ​ $ (3) ​ $ (254) Foreign ​ ​ 906 ​ ​ 12,358 Total current taxes ​ $ 903 ​ $ 12,104 ​ ​ ​ ​ ​ ​ ​ Deferred taxes: ​ ​ ​ ​ ​ ​ Federal ​ $ (691) ​ $ (895) State ​ ​ - ​ ​ 25 Foreign ​ ​ (5,947) ​ ​ (2,675) Total deferred tax benefits ​ $ (6,638) ​ $ (3,545) Total income tax (benefit) provision ​ $ (5,735) ​ $ 8,559
Differences between provision for income taxes and income tax determined	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Tax at statutory rates ​ $ (4,568) ​ $ 470 Foreign rate differential ​ ​ (1,006) ​ ​ 1,867 Changes in valuation allowance ​ ​ (3,521) ​ ​ (5,115) Tax losses subject to limitation ​ ​ 2,708 ​ ​ 8,306 Mexico mining tax ​ ​ 301 ​ ​ 2,168 Foreign exchange ​ ​ (904) ​ ​ 311 Stock option expiration ​ ​ 237 ​ ​ 519 Mexico withholding tax ​ ​ 102 ​ ​ 1,328 Deduction for inflation in Mexico ​ ​ (1,043) ​ ​ (1,083) U.S. state income tax ​ ​ (288) ​ ​ (786) Foreign tax credit expirations ​ ​ 2,118 ​ ​ - Other ​ ​ 129 ​ ​ 574 Tax (benefit) provision ​ $ (5,735) ​ $ 8,559
Tax Effects of Temporary Differences That Give Rise to Significant Portions of Deferred Tax Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ ​ 2023 ​ 2022 ​ ​ ​ (in thousands) Deferred tax assets: ​ ​ ​ ​ ​ ​ Tax loss carryforward ​ $ 28,888 ​ $ 25,626 Property, plant, and mine development ​ ​ 5,880 ​ ​ 1,429 Share-based compensation ​ ​ 131 ​ ​ 511 Foreign tax credits ​ ​ 1,971 ​ ​ 4,089 Inventory ​ ​ 197 ​ ​ 45 Foreign Mining Tax ​ ​ 264 ​ ​ 1,106 Accrued Expenses ​ ​ 5,529 ​ ​ 5,606 Gold and silver stream agreements liability ​ ​ 3,472 ​ ​ 2,144 Employee profit sharing obligation ​ ​ 20 ​ ​ 663 Other ​ ​ 300 ​ ​ 1,344 Total deferred tax assets ​ $ 46,652 ​ $ 42,563 Valuation allowance ​ ​ (28,297) ​ ​ (31,818) Deferred tax assets after valuation allowance ​ $ 18,355 ​ $ 10,745 Deferred tax liability – Property, plant and mine development ​ ​ (17,713) ​ ​ (17,724) Deferred tax liability – Other ​ ​ (1,418) ​ ​ (2,245) Total deferred tax liabilities ​ $ (19,131) ​ $ (19,969) Net deferred tax liability ​ $ (776) ​ $ (9,224)

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Prepaid Expenses And Other Current Assets
Schedule of prepaid and other assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Advances to suppliers ​ $ 266 ​ $ 867 Prepaid insurance ​ ​ 1,103 ​ ​ 1,298 Prepaid income tax ​ ​ 4,589 ​ ​ 432 Other current assets ​ ​ 654 ​ ​ 1,242 Total ​ $ 6,612 ​ $ 3,839

Property, Plant and Mine Deve_2

Property, Plant and Mine Development, net (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Mine Development, net
Schedule of property, plant and mine development	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Asset retirement costs ("ARO asset") ​ $ 6,227 ​ $ 7,449 Construction-in-progress ​ ​ 243 ​ ​ 351 Furniture and office equipment ​ ​ 1,781 ​ ​ 1,732 Land ​ ​ 9,033 ​ ​ 9,033 Mineral interest ​ ​ 79,543 ​ ​ 79,543 Light vehicles and other mobile equipment ​ ​ 2,126 ​ ​ 2,327 Machinery and equipment ​ ​ 42,887 ​ ​ 41,343 Mill facilities and infrastructure ​ ​ 36,396 ​ ​ 35,917 Mine development ​ ​ 115,230 ​ ​ 105,263 Software and licenses ​ ​ 1,554 ​ ​ 1,552 Subtotal ​ ​ 295,020 ​ ​ 284,510 Accumulated depreciation and amortization ​ ​ (156,394) ​ ​ (131,947) Total ​ $ 138,626 ​ $ 152,563

Other Non-current Assets (Table

Other Non-current Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Other Non-current Assets
Schedule of other non-current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Investment in Maritime ​ $ 1,596 ​ $ 1,559 Investment in Green Light Metals ​ ​ 3,698 ​ ​ 3,611 Other non-current assets ​ ​ 170 ​ ​ 339 Total ​ $ 5,464 ​ $ 5,509

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Accrued Expenses and Other Liabilities
Schedule of accrued expenses and other current liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Accrued royalty payments ​ $ 726 ​ $ 1,787 Share-based compensation liability - current ​ ​ 67 ​ ​ - Employee profit sharing obligation ​ ​ 67 ​ ​ 2,206 Other payables ​ ​ 888 ​ ​ 1,204 Total accrued expenses and other current liabilities ​ $ 1,748 ​ $ 5,197 ​ ​ ​ ​ ​ ​ ​ Accrued non-current labor obligation ​ $ 1,167 ​ $ 1,050 Share-based compensation liability ​ ​ 320 ​ ​ 884 Other long-term liabilities ​ ​ 29 ​ ​ 556 Total other non-current liabilities ​ $ 1,516 ​ $ 2,490

Gold and Silver Stream Agreem_2

Gold and Silver Stream Agreements (Tables)	12 Months Ended
	Dec. 31, 2023
Gold and Silver Stream Agreements
Schedule of liabilities related to the deferred revenues	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Liability related to the Gold Stream Agreement ​ $ 21,002 ​ $ 20,881 Liability related to the Silver Stream Agreement ​ ​ 23,930 ​ ​ 22,585 Total liability ​ $ 44,932 ​ $ 43,466

Reclamation and Remediation (Ta

Reclamation and Remediation (Tables)	12 Months Ended
	Dec. 31, 2023
Reclamation and Remediation
Summary of Changes in Reclamation and Remediation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Reclamation liabilities – balance at beginning of period ​ $ 1,949 ​ $ 1,833 Foreign currency exchange loss ​ ​ 284 ​ ​ 116 Reclamation liabilities – balance at end of period ​ ​ 2,233 ​ ​ 1,949 ​ ​ ​ ​ ​ ​ ​ Asset retirement obligation – balance at beginning of period (1) ​ ​ 8,417 ​ ​ 1,279 Changes in estimate (1) ​ ​ (1,221) ​ ​ 6,384 Liability for Aquila drillhole capping (2) ​ ​ 404 ​ ​ - Accretion ​ ​ 689 ​ ​ 668 Foreign currency exchange loss ​ ​ 1,273 ​ ​ 86 Asset retirement obligation – balance at end of period ​ ​ 9,562 ​ ​ 8,417 Total period end balance ​ $ 11,795 ​ $ 10,366 (1) In 2022, the Company updated its closure plan study, which resulted in a $6.4 million increase in the estimated liability and ARO asset. This increase is a result of formalizing a tailings storage facility closure plan, the addition of the dry stack facility and the filtration plant, and the increase of inflation in Mexico. In 2023, the Company updated its closure plan study to include current disturbances, which resulted in a $1.2 million decrease in the estimated liability and ARO asset. (2) As of December 31, 2022, the Company reported the liability of $0.4 million to remediate exploration drill holes at the Back Forty Project in Michigan, USA in other non-current liabilities. As of March 31, 2023, this liability of $0.4 million was reclassified to non-current reclamation and remediation liabilities.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies.
Schedule of change in the balance of the contingent consideration	The following table shows the change in the balance of the contingent consideration: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Beginning Balance of contingent consideration: ​ ​ ​ ​ ​ ​ Current contingent consideration ​ $ 2,211 ​ $ - Non-current contingent consideration ​ ​ 2,179 ​ ​ 4,603 ​ ​ $ 4,390 ​ $ 4,603 ​ ​ ​ ​ ​ ​ ​ Change in value ​ ​ (842) ​ ​ (213) ​ ​ ​ ​ ​ ​ ​ Ending Balance of contingent consideration: ​ ​ ​ ​ ​ ​ Current contingent consideration ​ $ - ​ $ 2,211 Non-current contingent consideration ​ ​ 3,548 ​ ​ 2,179 ​ ​ $ 3,548 ​ $ 4,390

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2023
Derivatives
Summary of unsettled sales contracts	The following table summarizes the Company’s unsettled sales contracts at December 31, 2023, with the quantities of metals under contract subject to final pricing occurring through February 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ ​ Total ​ ​ (ounces) ​ (ounces) ​ (tonnes) ​ (tonnes) ​ (tonnes) ​ ​ ​ Under contract ​ ​ 2,908 ​ ​ 252,324 ​ ​ 217 ​ ​ 1,678 ​ ​ 2,236 ​ ​ ​ Average forward price (per ounce or tonne) ​ $ 1,983 ​ ​ 23.45 ​ ​ 8,337 ​ ​ 2,151 ​ ​ 2,499 ​ ​ ​ Unsettled sales contracts value (in thousands) ​ $ 5,767 ​ $ 5,917 ​ $ 1,809 ​ $ 3,609 ​ $ 5,588 ​ $ 22,690

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Stock-Based Compensation
Stock-based compensation expense	​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ 2023 ​ 2022 ​ (in thousands) Stock options $ 342 ​ $ 646 Restricted stock units ​ 537 ​ ​ 631 Performance stock units ​ (168) ​ ​ 332 Deferred stock units ​ (30) ​ ​ 346 Total $ 681 ​ $ 1,955
Schedule of Share-based Compensation, Stock Options, Activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock Options ​ Weighted Average Exercise Price (per share) ​ Weighted Average Remaining Contractual Term (in years) ​ Aggregate Intrinsic Value (in thousands) Outstanding as of December 31, 2021 ​ 2,454,700 ​ $ 4.62 ​ 4.58 ​ $ 109 Granted ​ 320,816 ​ ​ 2.41 ​ ​ ​ ​ ​ Exercised ​ (355,000) ​ ​ 1.31 ​ ​ ​ ​ ​ Expired or Forfeited ​ (945,200) ​ ​ 7.78 ​ ​ ​ ​ ​ Outstanding as of December 31, 2022 ​ 1,475,316 ​ $ 2.90 ​ 7.38 ​ $ 18 Expired or Forfeited ​ (634,704) ​ ​ 2.79 ​ ​ ​ ​ ​ Outstanding as of December 31, 2023 ​ 840,612 ​ $ 2.99 ​ 7.38 ​ $ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Vested and exercisable as of December 31, 2023 ​ 593,740 ​ $ 2.98 ​ 7.36 ​ $ -
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Exercisable Range of Exercise Prices ​ Number of Options ​ Weighted Average Remaining Contractual Term (in years) ​ Weighted Average Exercise Price (per share) ​ Number of Options ​ Weighted Average Exercise Price (per share) $0.00 - $2.50 ​ 240,612 ​ 8.22 ​ $ 2.41 ​ 160,407 ​ $ 2.41 $2.51 -$5.00 ​ 600,000 ​ 7.04 ​ $ 3.22 ​ 433,333 ​ $ 3.19 ​ ​ 840,612 ​ 7.38 ​ $ 2.99 ​ 593,740 ​ $ 2.98
Schedule of Assumptions Used to Determine the Value of our Stock-based Awards	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 Risk-free interest rate ​ 2.13 % Dividend yield ​ 1.66 % Expected volatility ​ 56.39 % Expected life in years ​ 5 ​
Schedule of RSU activity under the Incentive Plan	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted Stock Units ​ Aggregate Intrinsic Value (in thousands) ​ Weighted Average Remaining Contractual Term (in years) Nonvested as of December 31, 2021 ​ 105,799 ​ $ 165 ​ 1.07 Granted ​ 611,681 ​ ​ ​ ​ ​ Vested but not redeemed (deferred) ​ (39,298) ​ ​ ​ ​ ​ Vested and redeemed ​ (80,169) ​ ​ ​ ​ ​ Forfeited ​ (22,465) ​ ​ ​ ​ ​ Nonvested as of December 31, 2022 ​ 575,548 ​ $ 881 ​ 1.04 Granted ​ 779,192 ​ ​ ​ ​ ​ Vested but not redeemed (deferred) ​ (106,955) ​ ​ ​ ​ ​ Vested and redeemed ​ (100,057) ​ ​ ​ ​ ​ Vested and forfeited for net settlement ​ (30,181) ​ ​ ​ ​ ​ Forfeited ​ (270,292) ​ ​ ​ ​ ​ Nonvested as of December 31, 2023 ​ 847,255 ​ $ 319 ​ 1.93
Schedule of PSU activity under the Incentive Plan	​ ​ ​ ​ ​ ​ ​ ​ ​ Performance Share Units ​ ​ Liability Balance (in thousands) Outstanding as of December 31, 2021 ​ - ​ ​ - Granted ​ 695,041 ​ ​ ​ Outstanding as of December 31, 2022 ​ 695,041 ​ ​ 332 Granted ​ 534,890 ​ ​ ​ Forfeited ​ (349,005) ​ ​ ​ Outstanding as of December 31, 2023 ​ 880,926 ​ ​ 164
Schedule of DSU activity under the Incentive Plan	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred Stock Units ​ ​ Liability Balance (in thousands) Outstanding as of December 31, 2021 ​ 131,960 ​ ​ 206 Granted ​ 214,357 ​ ​ ​ Granted in lieu of board fees ​ 14,382 ​ ​ ​ Outstanding as of December 31, 2022 ​ 360,699 ​ ​ 552 Granted ​ 278,663 ​ ​ ​ Granted in lieu of board fees ​ 108,011 ​ ​ ​ Granted in lieu of executive bonus ​ 212,407 ​ ​ ​ Redeemed ​ (373,489) ​ ​ ​ Outstanding as of December 31, 2023 ​ 586,291 ​ ​ 223

Zinc Zero Cost Collar (Tables)

Zinc Zero Cost Collar (Tables)	12 Months Ended
	Dec. 31, 2023
Zinc Zero Cost Collar
Schedule of realized and unrealized (gains) losses related to zinc zero cost collar	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Realized (gain) loss on zinc zero cost collar ​ $ - ​ $ 2,014 Unrealized gain on zinc zero cost collar (1) ​ ​ - ​ ​ (1,844) Total ​ $ - ​ $ 170 ​ (1) Gains and losses due to changes in fair value are non-cash in nature until such time that they are realized through cash transactions.

Other Expense, Net (Tables)

Other Expense, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Other Expense, net
Schedule of Other (Income) Expense, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Unrealized currency exchange (gain) loss (1) ​ $ (174) ​ $ 1,286 Realized currency exchange loss ​ ​ 860 ​ ​ 121 Realized and unrealized loss (gain) from gold and silver rounds, net ​ ​ (12) ​ ​ (28) Loss on disposal of fixed assets ​ ​ 13 ​ ​ 330 Interest on streaming liabilities ​ ​ 1,466 ​ ​ 906 Severance ​ ​ 1,619 ​ ​ 688 Other expense (income) ​ ​ (408) ​ ​ 985 Total ​ $ 3,364 ​ $ 4,288 ​ (1) Gains and losses due to changes in fair value are non-cash in nature until such time that they are realized through cash transactions.

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	12 Months Ended
	Dec. 31, 2023
Net Loss per Common Share
Schedule of net loss per common share	​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ December 31, ​ 2023 ​ 2022 Numerator: ​ ​ ​ ​ ​ Net loss (in thousands) $ (16,017) ​ $ (6,321) ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ Basic and diluted weighted average common shares outstanding ​ 88,514,243 ​ ​ 88,368,250 ​ ​ ​ ​ ​ ​ Basic and diluted net loss per common share $ (0.18) ​ $ (0.07) ​

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Measurement
Assets measured at fair value by level within fair value hierarchy	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ ​ December 31, ​ December 31, ​ Input Hierarchy Level ​ ​ 2023 ​ 2022 ​ ​ ​ ​ (in thousands) ​ ​ Cash and cash equivalents ​ $ 6,254 ​ $ 23,675 ​ Level 1 Accounts receivable, net ​ $ 4,335 ​ $ 5,085 ​ Level 2 Investment in equity securities-Maritime ​ $ 1,596 ​ $ 1,559 ​ Level 1 Investment in equity securities-Green Light Metals ​ $ 3,698 ​ $ 3,611 ​ Level 3
Gains and Losses Related to Changes in Fair Value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ Statements of Operations Classification ​ ​ ​ 2023 ​ 2022 ​ ​ ​ Note ​ ​ ​ ​ ​ ​ ​ ​ Realized and unrealized derivative gain (loss), net 13 ​ $ (28) ​ $ (363) ​ Sales, net Realized gain (loss) on zinc zero cost collar 16 ​ $ - ​ $ (2,014) ​ Realized and unrealized loss on zinc zero cost collar Unrealized gain on zinc zero cost collar 16 ​ $ - ​ $ 1,844 ​ Realized and unrealized loss on zinc zero cost collar
Realized and Unrealized Gain Losses on Derivatives	The following tables summarize the Company’s realized/unrealized derivatives, net (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ Total For the year ended December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized gain (loss) ​ $ 295 ​ $ 334 ​ $ 6 ​ $ 174 ​ $ (511) ​ $ 298 Unrealized (loss) gain ​ ​ (40) ​ ​ (241) ​ ​ 4 ​ ​ (186) ​ ​ 137 ​ ​ (326) Total realized/unrealized derivatives, net ​ $ 255 ​ $ 93 ​ $ 10 ​ $ (12) ​ $ (374) ​ $ (28) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ Total For the year ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized loss ​ $ (79) ​ $ - ​ $ (127) ​ $ (150) ​ $ (364) ​ $ (720) Unrealized gain (loss) ​ ​ 136 ​ $ 433 ​ $ 7 ​ $ 153 ​ $ (372) ​ ​ 357 Total realized/unrealized derivatives, net ​ $ 57 ​ $ 433 ​ $ (120) ​ $ 3 ​ $ (736) ​ $ (363) ​

Supplementary Cash Flow Infor_2

Supplementary Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2023
Supplementary Cash Flow Information
Schedule of operating adjustment and write-downs in cash flow statement	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ (in thousands) Unrealized gain on gold and silver rounds ​ $ (14) ​ $ (63) Unrealized foreign currency exchange (gain) loss ​ ​ (174) ​ ​ 1,286 Loss on disposition of fixed assets ​ ​ 13 ​ ​ 408 Increase (decrease) in reserve for inventory ​ ​ 382 ​ ​ (264) Unrealized gain on zinc zero cost collar ​ ​ - ​ ​ (1,844) Other ​ ​ 384 ​ ​ 521 Total other operating adjustments ​ $ 591 ​ $ 44 ​

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting
Schedule of financial information relating to the Company segments	The following table shows selected information from the Consolidated Balance Sheets relating to the Company’s segments (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaxaca, Mexico ​ Michigan, USA ​ Corporate and Other ​ Consolidated As of December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets ​ $ 25,155 ​ $ 116 ​ $ 1,224 ​ $ 26,495 Total non-current assets (1) ​ ​ 62,368 ​ ​ 93,287 ​ ​ 1,736 ​ ​ 157,391 Total assets ​ $ 87,523 ​ $ 93,403 ​ $ 2,960 ​ $ 183,886 Total current liabilities ​ $ 10,029 ​ ​ 59 ​ ​ 1,237 ​ $ 11,325 Total non-current liabilities ​ ​ 12,559 ​ ​ 62,792 ​ ​ 517 ​ ​ 75,868 Total shareholders' equity ​ ​ 64,935 ​ ​ 30,552 ​ ​ 1,206 ​ ​ 96,693 Total liabilities and shareholders' equity ​ $ 87,523 ​ $ 93,403 ​ $ 2,960 ​ $ 183,886 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets ​ $ 38,032 ​ $ 272 ​ $ 7,795 ​ $ 46,099 Total non-current assets (1) ​ ​ 69,269 ​ ​ 92,927 ​ ​ 1,803 ​ ​ 163,999 Total assets ​ $ 107,301 ​ $ 93,199 ​ $ 9,598 ​ $ 210,098 Total current liabilities ​ $ 20,035 ​ $ 3,352 ​ $ 1,295 ​ $ 24,682 Total non-current liabilities ​ ​ 11,460 ​ ​ 60,648 ​ ​ 1,544 ​ ​ 73,652 Total shareholders' equity ​ ​ 75,806 ​ ​ 29,199 ​ ​ 6,759 ​ ​ 111,764 Total liabilities and shareholders' equity ​ $ 107,301 ​ $ 93,199 ​ $ 9,598 ​ $ 210,098 ​ (1) In 2023, the total non-current assets included capital investments of $11.0 million in Oaxaca, Mexico, $0.4 million in Michigan, USA, and nil in Corporate and Other. In 2022, the total non-current assets included capital investments of $18.1 million in Oaxaca, Mexico, $0.1 million in Michigan, USA, and nil in Corporate and Other. The following table shows selected information from the Consolidated Statements of Operations relating to the Company’s segments (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaxaca, Mexico ​ Michigan, USA ​ Corporate and Other ​ Consolidated For the year ended December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, net ​ $ 97,728 ​ ​ - ​ ​ ​ ​ $ 97,728 Total mine cost of sales, including depreciation ​ ​ 102,913 ​ ​ 92 ​ ​ 38 ​ ​ 103,043 Exploration expense ​ ​ 4,167 ​ ​ 1,642 ​ ​ - ​ ​ 5,809 Total other costs and expenses, including G&A ​ ​ 2,693 ​ ​ 529 ​ ​ 7,406 ​ ​ 10,628 Income tax benefit ​ ​ (4,767) ​ ​ (695) ​ ​ (273) ​ ​ (5,735) Net loss ​ $ (7,278) ​ $ (1,568) ​ $ (7,171) ​ $ (16,017) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, net ​ $ 138,724 ​ $ - ​ $ - ​ $ 138,724 Total mine cost of sales, including depreciation ​ ​ 108,863 ​ ​ 75 ​ ​ 38 ​ ​ 108,976 Exploration expense ​ ​ 4,244 ​ ​ 8,805 ​ ​ - ​ ​ 13,049 Total other costs and expenses, including G&A ​ ​ 2,741 ​ ​ 1,415 ​ ​ 10,305 ​ ​ 14,461 Income tax provision (benefit) ​ ​ 8,061 ​ ​ (1,123) ​ ​ 1,621 ​ ​ 8,559 Net income (loss) ​ $ 14,815 ​ $ (9,172) ​ $ (11,964) ​ $ (6,321) ​

Nature of Operations and Summ_4

Nature of Operations and Summary of Significant Accounting Policies - Revised Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Total current assets	$ 26,495	$ 46,099
Property, plant, and mine development, net	138,626	152,563
Deferred tax assets, net	13,301	5,927
Other non-current assets	5,464	5,509
Total assets	183,886	210,098
Current liabilities:
Total current liabilities	11,325	24,682
Reclamation and remediation liabilities	11,795	10,366
Gold and silver stream agreements liability	44,932	43,466
Deferred tax liabilities, net	14,077	15,151
Contingent consideration	3,548	2,179	$ 4,603
Other non-current liabilities	1,516	2,490
Total liabilities	87,193	98,334
Shareholders' equity:
Total shareholders' equity	96,693	111,764
Total liabilities and shareholders' equity	$ 183,886	210,098
As Reported
Current assets:
Total current assets		46,099
Property, plant, and mine development, net		152,563
Other non-current assets		5,509
Total assets		204,171
Current liabilities:
Total current liabilities		24,682
Reclamation and remediation liabilities		10,366
Gold and silver stream agreements liability		43,466
Deferred tax liabilities, net		9,224
Contingent consideration		2,179
Other non-current liabilities		2,490
Total liabilities		92,407
Shareholders' equity:
Total shareholders' equity		111,764
Total liabilities and shareholders' equity		204,171
Adjustments
Current assets:
Deferred tax assets, net		5,927
Total assets		5,927
Current liabilities:
Deferred tax liabilities, net		5,927
Total liabilities		5,927
Shareholders' equity:
Total liabilities and shareholders' equity		$ 5,927

Nature of Operations and Summ_5

Nature of Operations and Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)
Nature Of Operations [Line Items]
Allowance for doubtful accounts | $	$ 0	$ 0
Number of geographic regions | segment	3
Concentrate sale percentage based on provisional sales price	100%
Back Forty Project
Nature Of Operations [Line Items]
Ownership percentage	100%
Sales Revenue Net | Sales Revenue | Arista And Alta Gracia Mines At DDGM [Member]
Nature Of Operations [Line Items]
Concentration risk	100%
CustomerA [Member] | Sales Revenue Net | Customer Concentration Risk [Member]
Nature Of Operations [Line Items]
Concentration risk	48%	38%
CustomerA [Member] | Accounts Receivable | Customer Concentration Risk [Member]
Nature Of Operations [Line Items]
Concentration risk	46%	47%
Customer B [Member] | Sales Revenue Net | Customer Concentration Risk [Member]
Nature Of Operations [Line Items]
Concentration risk	24%	33%
Customer B [Member] | Accounts Receivable | Customer Concentration Risk [Member]
Nature Of Operations [Line Items]
Concentration risk	33%	33%
Customer C [Member] | Sales Revenue Net | Customer Concentration Risk [Member]
Nature Of Operations [Line Items]
Concentration risk	25%
Customer C [Member] | Accounts Receivable | Customer Concentration Risk [Member]
Nature Of Operations [Line Items]
Concentration risk	21%
Customer D [Member] | Sales Revenue Net | Customer Concentration Risk [Member]
Nature Of Operations [Line Items]
Concentration risk		24%
Customer D [Member] | Accounts Receivable | Customer Concentration Risk [Member]
Nature Of Operations [Line Items]
Concentration risk		20%

Nature of Operations and Summ_6

Nature of Operations and Summary of Significant Accounting Policies - Estimated Economic Lives (Details)	Dec. 31, 2023
Furniture, computer and office equipment | Minimum
Property Plant And Equipment [Line Items]
Useful life	3 years
Furniture, computer and office equipment | Maximum
Property Plant And Equipment [Line Items]
Useful life	10 years
Light vehicles and other mobile equipment
Property Plant And Equipment [Line Items]
Useful life	4 years
Machinery and equipment | Maximum
Property Plant And Equipment [Line Items]
Useful life	8 years
Buildings and infrastructure | Maximum
Property Plant And Equipment [Line Items]
Useful life	4 years

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Realized gain (loss) - embedded derivative, net	$ 298	$ (720)
Unrealized (loss) gain - embedded derivative, net	(326)	357
Total sales, net	97,728	138,724
Dore
Disaggregation of Revenue [Line Items]
Less: Treatment and refining charges	(52)	(59)
Total sales, net	3,166	8,168
Gold Dore
Disaggregation of Revenue [Line Items]
Total sales, net	3,079	7,997
Silver Dore
Disaggregation of Revenue [Line Items]
Total sales, net	139	230
Concentrate
Disaggregation of Revenue [Line Items]
Less: Treatment and refining charges	(11,578)	(12,013)
Total sales, net	94,590	130,919
Gold Concentrate
Disaggregation of Revenue [Line Items]
Total sales, net	32,865	46,322
Silver Concentrate
Disaggregation of Revenue [Line Items]
Total sales, net	24,066	22,527
Copper Concentrate
Disaggregation of Revenue [Line Items]
Total sales, net	10,472	11,987
Lead Concentrate
Disaggregation of Revenue [Line Items]
Total sales, net	9,540	11,626
Zinc Concentrate
Disaggregation of Revenue [Line Items]
Total sales, net	29,225	50,470
Co-products
Disaggregation of Revenue [Line Items]
Realized gain (loss) - embedded derivative, net	$ 300	$ 700

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Stockpiles - underground mine	$ 534	$ 597
Concentrates	1,768	3,271
Dore, net	169	653
Subtotal - product inventories	2,471	4,521
Materials and supplies	6,823	8,979
Total	9,294	13,500
Materials and supplies
Inventory reserve	$ 500	$ 100

Income Taxes - U.S. And Foreign

Income Taxes - U.S. And Foreign Components Of Loss Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Taxes
U.S. Operations	$ (8,958)	$ (18,317)
Foreign Operations	(12,794)	20,555
(Loss) income before income taxes	$ (21,752)	$ 2,238

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Taxes
State Current Taxes	$ (3)	$ (254)
Foreign Current Taxes	906	12,358
Total current taxes	903	12,104
Federal Deferred Taxes	(691)	(895)
State Deferred Taxes		25
Foreign Deferred Taxes	(5,947)	(2,675)
Total deferred tax benefits	(6,638)	(3,545)
Total income tax provision	$ (5,735)	$ 8,559

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Taxes Reported At Company's Tax Rate And U.S. Federal Statutory Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Taxes
Tax at statutory rates	$ (4,568)	$ 470
Foreign rate differential	(1,006)	1,867
Change in valuation allowance	(3,521)	(5,115)
Tax losses subject to limitation	2,708	8,306
Mexico mining tax	301	2,168
Foreign exchange	(904)	311
Stock option expiration	237	519
Mexico Withholding Tax	102	1,328
Deduction for Inflation in Mexico	(1,043)	(1,083)
U.S. State income tax	(288)	(786)
Foreign tax credit expirations	2,118
Other	129	574
Total income tax provision	$ (5,735)	$ 8,559

Income Taxes - Tax Effects of T

Income Taxes - Tax Effects of Temporary Differences That Give Rise to Significant Portions of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Taxes
Tax loss carryforward	$ 28,888	$ 25,626
Property, plant, and mine development	5,880	1,429
Share-based compensation	131	511
Foreign tax credits	1,971	4,089
Inventory	197	45
Foreign Mining Tax	264	1,106
Accrued Expenses	5,529	5,606
Gold and silver stream agreements liability	3,472	2,144
Employee profit sharing obligation	20	663
Other	300	1,344
Total deferred tax assets	46,652	42,563
Valuation allowance	(28,297)	(31,818)
Deferred tax assets after valuation allowance	18,355	10,745
Deferred tax liability - Property, plant and mine development	(17,713)	(17,724)
Deferred tax liability - Other	(1,418)	(2,245)
Total deferred tax liability	(19,131)	(19,969)
Net deferred tax liability	$ (776)	$ (9,224)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 31, 2023 USD ($)	Oct. 31, 2023 MXN ($)
Income Taxes [Line Items]
Deferred tax liabilities, assets acquisition	$ 800
Withholding tax on dividends	10%
Dividend withholding tax between countries	5%
Dividend Withholding Tax Amount Between Countries	$ 100	$ 1,300
Royalty fee as percent of gross revenue	0.50%
Valuation allowance	$ 28,297	31,818
Long-term deferred tax liability	776	9,224
Deferred tax assets, net	18,355	10,745
Decrease in valuation allowance	3,500
Liability for uncertain tax positions	0	$ 0
Net operating losses subject to expiration	45,100
Net operating losses not subject to expiration	30,800
Annual limitation of net operating loss carry forwards	1,300
Aquila
Income Taxes [Line Items]
Valuation allowance	28,300
Long-term deferred tax liability	14,100
Don David Gold Mine
Income Taxes [Line Items]
Deferred tax assets, net	13,300
Federal
Income Taxes [Line Items]
Operating loss carry-forward	76,800
Global Intangible Low Taxed Income [Member]
Income Taxes [Line Items]
Portion of U.S. tax rate		90%
Between 2024 and 2026 [Member] | Federal
Income Taxes [Line Items]
Operating loss carry-forward	2,000
Between 2027 and 2037 [Member] | Federal
Income Taxes [Line Items]
Operating loss carry-forward	20,600
No Expiration [Member] | Federal
Income Taxes [Line Items]
Operating loss carry-forward	56,200
MICHIGAN
Income Taxes [Line Items]
Net operating losses subject to expiration	12,300
Net operating losses not subject to expiration	35,900
MICHIGAN | Between 2024 and 2033 [Member]
Income Taxes [Line Items]
Operating loss carry-forward	16,800
COLORADO | State and Local
Income Taxes [Line Items]
Operating loss carry-forward	53,000
COLORADO | Between 2024 and 2037 [Member] | State and Local
Income Taxes [Line Items]
Operating loss carry-forward	29,800
COLORADO | No Expiration [Member] | State and Local
Income Taxes [Line Items]
Operating loss carry-forward	23,100
CANADA | Between 2026 and 2043 [Member]
Income Taxes [Line Items]
Operating loss carry-forward	$ 23,000
Mexico
Income Taxes [Line Items]
MITL corporate income tax rate	30%
MITL royalty tax on mining concessions	7.50%
Amortization rate	10%
WISCONSIN | Expiring In 2042[Member]
Income Taxes [Line Items]
Operating loss carry-forward	$ 4,000
Mexican Tax Administration Services | Tax Year 2015
Income Taxes [Line Items]
Possible sanction			$ 19,500	$ 331
Aquila Resources Inc.
Income Taxes [Line Items]
Valuation allowance	19,500	$ 21,800
Aquila Resources Inc. | UNITED STATES
Income Taxes [Line Items]
Valuation allowance	18,800	21,200
Aquila Resources Inc. | CANADA
Income Taxes [Line Items]
Valuation allowance	$ 9,500	$ 10,600

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Prepaid Expenses And Other Current Assets
Advances to suppliers	$ 266	$ 867
Prepaid insurance	1,103	1,298
Prepaid income tax	4,589	432
Other current assets	654	1,242
Total	6,612	3,839
IVA taxes receivable, net	$ 400	$ 800

Property, Plant and Mine Deve_3

Property, Plant and Mine Development, net - Summary of Property, Equipment and Mine Development (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, equipment and mine development - net
Property and equipment, gross	$ 295,020	$ 284,510
Accumulated depreciation and amortization	(156,394)	(131,947)
Total property, equipment and mine development - net	138,626	152,563
Change in estimate for asset retirement costs	(1,221)	6,384
Asset retirement costs ("ARO asset")
Property, equipment and mine development - net
Property and equipment, gross	6,227	7,449
Construction-in-progress
Property, equipment and mine development - net
Property and equipment, gross	243	351
Furniture and office equipment
Property, equipment and mine development - net
Property and equipment, gross	1,781	1,732
Land
Property, equipment and mine development - net
Property and equipment, gross	9,033	9,033
Mineral interests
Property, equipment and mine development - net
Property and equipment, gross	79,543	79,543
Light vehicles and other mobile equipment
Property, equipment and mine development - net
Property and equipment, gross	2,126	2,327
Machinery and equipment
Property, equipment and mine development - net
Property and equipment, gross	42,887	41,343
Mill facilities and infrastructure
Property, equipment and mine development - net
Property and equipment, gross	36,396	35,917
Mine Development
Property, equipment and mine development - net
Property and equipment, gross	115,230	105,263
Software and licenses
Property, equipment and mine development - net
Property and equipment, gross	$ 1,554	$ 1,552

Other Non-current Assets (Detai

Other Non-current Assets (Details) $ in Thousands, $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 28, 2022 USD ($)	Dec. 28, 2022 CAD ($)
Other Non-current Assets
Other non-current assets	$ 170	$ 339
Total	5,464	5,509
Maritime Resources Corp
Other Non-current Assets
Equity Investment	1,596	1,559
Investment in Green Light Metals
Other Non-current Assets
Equity Investment	$ 3,698	$ 3,611	$ 3,700	$ 4.9

Other Non-current Assets - Narr

Other Non-current Assets - Narrative (Details) $ / shares in Units, $ in Thousands, $ in Millions			12 Months Ended
	Dec. 28, 2022 USD ($) shares	Sep. 22, 2022 USD ($) shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($)	Dec. 28, 2022 CAD ($)	Sep. 22, 2022 CAD ($) shares
Investment in Green Light Metals
Other Non-current Assets
Number of shares received in conversion of promissory note	12,250,000
Maritime Resources Corp
Other Non-current Assets
Investment amount		$ 1,700				$ 2.4
Number of shares purchased or received		47,000,000				47,000,000
Percentage of investment on issued and outstanding capital		9.90%
Fair Value of Investment | $			$ 1,596	$ 1,559
Investment in Green Light Metals
Other Non-current Assets
Fair Value of Investment	$ 3,700		3,698	3,611	$ 4.9
Ownership percentage	28.50%				28.50%
Number of shares received in conversion of promissory note	12,250,000
Investment in Green Light Metals | Investment in Green Light Metals
Other Non-current Assets
Fair Value of Investment | $			$ 3,700	$ 3,600
Ownership percentage	28.50%				28.50%
Maximum per share amount for additional shares being issued. | $ / shares			$ 0.40

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands		12 Months Ended
	Apr. 23, 2021	Dec. 31, 2023	Dec. 31, 2022
Accrued royalty payments		$ 726	$ 1,787
Share-based compensation liability - current		67
Employee profit sharing obligation		67	2,206
Other payables		888	1,204
Total accrued expenses and other current liabilities		1,748	5,197
Other Liabilities, Noncurrent [Abstract]
Accrued non-current labor obligation		1,167	1,050
Share-based compensation liability		320	884
Other long-term liabilities		29	556
Total other non-current liabilities		1,516	2,490
Percentage of statutory profit sharing payable	10%
Current liabilities and production costs
Employee profit sharing obligation		100	2,200
Other long-term liabilities and other expenses
Other Liabilities, Noncurrent [Abstract]
Accrued non-current labor obligation		$ 1,200	$ 1,100
Deferred Profit Sharing
Other Liabilities, Noncurrent [Abstract]
Percentage of statutory profit sharing payable		10%

Gold and Silver Stream Agreem_3

Gold and Silver Stream Agreements - Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred revenue	$ 44,932	$ 43,466
Gold Streaming Agreement
Deferred revenue	21,002	20,881
Silver Streaming Agreement
Deferred revenue	$ 23,930	$ 22,585

Gold and Silver Stream Agreem_4

Gold and Silver Stream Agreements - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Nov. 30, 2017
Discount rate (as a percent)		6%
Deferred revenue		$ 44,932,000		$ 43,466,000
Gold Streaming Agreement
Discount rate (as a percent)			6%
Deferred revenue		21,002,000		20,881,000
Gold Streaming Agreement | Aquila Resources Inc. | Gold
Amount committed	$ 50,000,000				$ 55,000,000
Cash acquisition costs	20,000,000
Deposit amount	5,000,000
Project debt finance first draw down	$ 25,000,000
Initial term of agreement	40 years
Automatic renewal term of agreement	10 years
Deferred revenue		20,000,000
Deposit liability		30,000,000
Threshold stream (as a percent)	18.50%
Trail stream (as a percent)	9.25%
Spot price of gold (as a percent)	30%
Maximum amount receivable on gold per ounce	$ 600
Threshold price of silver at which deposit received is adjusted	105,000
Gold Streaming Agreement | Aquila Resources Inc. | Silver
Deferred revenue		17,200,000
Threshold price of silver at which deposit received is adjusted	$ 4
Gold Streaming Agreement | Gold Resources Acquisition Company | Aquila Resources Inc. | Gold
Ownership percentage	100%
Silver Streaming Agreement
Discount rate (as a percent)			6%
Deferred revenue		23,930,000		$ 22,585,000
Silver Streaming Agreement | Aquila Resources Inc. | Silver
Cash acquisition costs		$ 17,200,000
Deposit amount	$ 0
Initial term of agreement	40 years
Automatic renewal term of agreement	10 years
Commodity produced (as a percent)	85%

Reclamation and Remediation - C

Reclamation and Remediation - Changes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Asset Retirement Obligation, Roll Forward Analysis
Reclamation liabilities - balance at beginning of period	$ 1,949	$ 1,833
Foreign currency exchange loss	284	116
Reclamation liabilities - balance at end of period	2,233	1,949
Asset retirement obligation - balance at beginning of period	8,417	1,279
Changes in estimate	(1,221)	6,384
Liability for Aquila drillhole capping	404
Accretion	689	668
Foreign currency exchange loss	1,273	86
Asset retirement obligation - balance at end of period	9,562	8,417
Reclamation and remediation liabilities	$ 11,795	$ 10,366

Reclamation and Remediation - N

Reclamation and Remediation - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023	Dec. 31, 2021
Increase in estimated liability		$ 6,400
Decrease in estimated liability	$ 1,200
Asset retirement obligation	9,562	8,417		$ 1,279
Reclamation and remediation liabilities	11,795	10,366
Reclamation liabilities	$ 2,233	1,949		$ 1,833
Reclamation and remediation discount rate	8%
Don David Gold Mine
Asset retirement obligation	$ 9,600	8,400
Reclamation liabilities	$ 2,200	1,900
Back Forty Project
Asset retirement obligation		$ 400
Reclamation and remediation liabilities			$ 400

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) $ in Thousands, $ in Millions	Dec. 30, 2013 CAD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 10, 2021 USD ($)
Leases [Line Items]
Equipment purchase commitments		$ 800		$ 1,200
Contingent consideration		3,548		4,390	$ 4,603
Contingent consideration		3,548		2,179	$ 4,603
Contingent consideration, current				2,211
HudBay Michigan Inc
Leases [Line Items]
Percentage of voting equity interests acquired	100%
Back Forty Project
Leases [Line Items]
Contingent consideration due upon project financing intended to pay			$ 3
Aquila Resources Inc. | Gold and silver streaming agreement with Osisko Bermuda Limited | Back Forty Project
Leases [Line Items]
Deposit amount						$ 37,200
Aquila Resources Inc. | Back Forty Project
Leases [Line Items]
Percentage of ownership interest held	100%
Contingent consideration	$ 9
Contingent consideration due upon project financing	$ 3
Percentage of contingent consideration payable in shares	50%
Contingent consideration payable in shares	$ 3
Contingent consideration		$ 3,500		$ 4,400
Aquila Resources Inc. | Back Forty Project | 90 days after the commencement of commercial production
Leases [Line Items]
Contingent consideration payable in cash	2
Aquila Resources Inc. | Back Forty Project | 270 days after the commencement of commercial production
Leases [Line Items]
Contingent consideration payable in cash	2
Aquila Resources Inc. | Back Forty Project | 450 days after the commencement of commercial production
Leases [Line Items]
Contingent consideration payable in cash	$ 2
HudBay Michigan Inc | HudBay Michigan Inc
Leases [Line Items]
Percentage of net smelter return royalty on production	1%
HudBay Michigan Inc | Back Forty Project
Leases [Line Items]
Percentage of voting equity interests acquired at the asset acquisition date tied to the development of project	51%
Percentage of ownership purchase to be prevented		51%	51%

Commitments and Contingencies -

Commitments and Contingencies - Contingent Consideration (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies.
Beginning Balance of continent consideration: Current contingent consideration	$ 2,211
Beginning Balance of continent consideration: Non-current contingent consideration	2,179	$ 4,603
Beginning Balance of continent consideration: Total contingent consideration	4,390	4,603
Change in fair value	(842)	(213)
Ending Balance of continent consideration: Current contingent consideration		2,211
Ending Balance of continent consideration: Non-current contingent consideration	3,548	2,179
Ending Balance of continent consideration: Total contingent consideration	$ 3,548	$ 4,390

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Dividend per share declared and paid		$ 0.04
Dividends paid		$ 3.5
ATM Agreement
Sale Price of Common Stock Renewed	$ 75
Common stock sold	195,872
Net proceeds	$ 0.1

Derivatives (Details)

Derivatives (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / oz $ / t oz t
Embedded Derivative [Line Items]
Unsettled sales contracts value	$ 22,690
Gold
Embedded Derivative [Line Items]
Under contract | oz	2,908
Average forward price | $ / oz	1,983
Unsettled sales contracts value	$ 5,767
Silver.
Embedded Derivative [Line Items]
Under contract | oz	252,324
Average forward price | $ / oz	23.45
Unsettled sales contracts value	$ 5,917
Copper
Embedded Derivative [Line Items]
Under contract | t	217
Average forward price | $ / t	8,337
Unsettled sales contracts value	$ 1,809
Lead
Embedded Derivative [Line Items]
Under contract | t	1,678
Average forward price | $ / t	2,151
Unsettled sales contracts value	$ 3,609
Zinc
Embedded Derivative [Line Items]
Under contract | t	2,236
Average forward price | $ / t	2,499
Unsettled sales contracts value	$ 5,588

Derivatives - Other (Details)

Derivatives - Other (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Realized gain (loss)	$ 298	$ (720)
Unrealized (loss) gain	$ (326)	357
Metal And Currencies Derivatives | Trading Agreement With Auramet International Llc
Derivative [Line Items]
Realized gain (loss)		2,000
Unrealized (loss) gain		$ 1,800

Employee Benefits (Details)

Employee Benefits (Details)		12 Months Ended
	Apr. 23, 2021	Dec. 31, 2023
Employee Benefits
Defined contribution plan maximum percentage amount of the employee's gross pay that the employee can contribute		90%
Percentage Of Statutory Profit Sharing Payable	10%

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Additionally number of shares granted	5,000,000
Vesting period	0 years
Options granted	0	320,816
Number of stock options exercised	0	355,000
Accrued liabilities	$ 1,748	$ 5,197
Weighted-average grant date fair value of options granted	$ 0	$ 1.06
Intrinsic value of shares	$ 0	$ 100
Weighted average exercise price		$ 1.31
Fair value	0	$ 1,000
Estimated unrecognized compensation expense	0
STIP
Accrued liabilities	$ 800	$ 1,000
Restricted stock units
Number of units granted	779,192	611,681
Vesting period	1 year 11 months 4 days
Vested	100,057	80,169
Total intrinsic value	$ 600	$ 300
Deferred	100,000	39,000
Forfeited	270,292	22,465
Estimated unrecognized compensation expense	$ 700
Weighted-average fair value of per unit	$ 0.92	$ 1.97
Volume weighted average period	20 days
Performance stock units
Number of units granted	534,890	695,041
Vesting period	3 years
Stock redeemed	0
Vested	0
Vesting period		3 years
Forfeited	349,005	0
Non-current liability	$ 200	$ 300
Short-term liability	$ 100
Weighted-average fair value of per unit	$ 0.90	$ 1.99
Volume weighted average period	20 days
Deferred stock units
Additionally number of shares granted	108,011	14,382
Number of units granted	278,663	214,357
Vesting period	10 years
Deferred stock units expense	$ 200	$ 600
Forfeited	0	0
Weighted-average fair value of per unit	$ 0.83	$ 2.93
Volume weighted average period	20 days
Granted in lieu of executive bonus	212,407	0
Redeemed	(373,489)	0

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-based compensation expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Stock-based compensation expense	$ 681	$ 1,955
Deferred stock units
Stock-based compensation expense	(30)	346
Restricted stock units
Stock-based compensation expense	537	631
Employee Stock Option [Member]
Stock-based compensation expense	342	646
Performance stock units
Stock-based compensation expense	$ (168)	$ 332

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity under Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, Beginning Balance (in shares)	1,475,316	2,454,700
Granted (in shares)	0	320,816
Exercised (in shares)	0	(355,000)
Expired (in shares)	(634,704)	(945,200)
Outstanding, Ending Balance (in shares)	840,612	1,475,316	2,454,700
Vested and exercisable (in shares)	593,740
Weighted Average Exercise Price
Outstanding Weighted Average Exercise Price, Beginning Balance	$ 2.90	$ 4.62
Weighted Average Exercise Price, Granted		2.41
Weighted average exercise price		1.31
Weighted Average Exercise Price, Expired	2.79	7.78
Outstanding Weighted Average Exercise Price, Ending Balance	2.99	$ 2.90	$ 4.62
Weighted Average Exercise Price, Vested and exercisable as of end of period	$ 2.98
Weighted -Average Remaining contractual Term (in years)
Weighted Average Remaining Contractual Term (in years), Outstanding as Beginning of period	7 years 4 months 17 days	7 years 4 months 17 days	4 years 6 months 29 days
Weighted Average Remaining Contractual Term (in years), Outstanding as of end of period	7 years 4 months 17 days	7 years 4 months 17 days	4 years 6 months 29 days
Weighted Average Remaining Contractual Term (in years), Vested and exercisable as of end of period	7 years 4 months 9 days
Additional disclosures
Aggregate Intrinsic Value, Outstanding as of beginning of period	$ 18	$ 109
Aggregate Intrinsic Value, Outstanding as of end of period		$ 18	$ 109

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Options by Exercise Price Range (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Outstanding Number of Options | shares	840,612
Outstanding Weighted Average Remaining Contractual Term (in years)	7 years 4 months 17 days
Outstanding Weighted Average Exercise Price (per share)	$ 2.99
Exercisable Number of Options | shares	593,740
Exercisable Weighted Average Exercise Price (per share)	$ 2.98
$0.00 - $2.50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Stock options exercise price range, lower limit	0
Stock options exercise price range, upper limit	$ 2.50
Outstanding Number of Options | shares	240,612
Outstanding Weighted Average Remaining Contractual Term (in years)	8 years 2 months 19 days
Outstanding Weighted Average Exercise Price (per share)	$ 2.41
Exercisable Number of Options | shares	160,407
Exercisable Weighted Average Exercise Price (per share)	$ 2.41
$2.51 -$5.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Stock options exercise price range, lower limit	2.51
Stock options exercise price range, upper limit	$ 5
Outstanding Number of Options | shares	600,000
Outstanding Weighted Average Remaining Contractual Term (in years)	7 years 14 days
Outstanding Weighted Average Exercise Price (per share)	$ 3.22
Exercisable Number of Options | shares	433,333
Exercisable Weighted Average Exercise Price (per share)	$ 3.19

Stock-Based Compensation - Blac

Stock-Based Compensation - Black-Scholes Assumptions (Details)	12 Months Ended
	Dec. 31, 2022
Stock-Based Compensation
Risk-free interest rate	2.13%
Dividend yield	1.66%
Expected volatility	56.39%
Expected life in years	5 years

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of RSU activity under Incentive Plan (Details) - Restricted stock units - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares
Nonvested, Beginning Balance (in shares)	575,548	105,799
Granted (in shares)	779,192	611,681
Vested but not redeemed (deferred) (in shares)	(106,955)	(39,298)
Vested and redeemed (in shares)	(100,057)	(80,169)
Vested and forfeited for net settlement	(30,181)
Forfeited (in shares)	(270,292)	(22,465)
Nonvested, Ending Balance	847,255	575,548	105,799
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding	$ 319	$ 881	$ 165
Weighted Average Remaining Contractual Term (in years)
Weighted Average Remaining Contractual Term (in years)	1 year 11 months 4 days	1 year 14 days	1 year 25 days

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of PSU activity under the Incentive Plan (Details) - Performance stock units - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Shares
Nonvested, Beginning Balance (in shares)	695,041
Granted (in shares)	534,890	695,041
Forfeited (in shares)	(349,005)	0
Nonvested, Ending Balance	880,926	695,041
Liability Balance
Liability Balance	$ 164	$ 332

Stock-Based Compensation - Su_5

Stock-Based Compensation - Summary of DSU activity under the Incentive Plan (Details) - Deferred stock units - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, Beginning Balance (in shares)	360,699	131,960
Granted (in shares)	278,663	214,357
Granted in lieu of board fees (in shares)	108,011	14,382
Granted in lieu of executive bonus	212,407	0
Redeemed	(373,489)	0
Nonvested, Ending Balance	586,291	360,699
Liability Balance
Liability Balance	$ 223	$ 552	$ 206

Zinc Zero Cost Collar (Details)

Zinc Zero Cost Collar (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Realized (gain) loss on zinc zero cost collar	$ (298)	$ 720
Unrealized gain on zinc zero cost collar	326	(357)
Total		170
Zinc
Derivative Instruments, Gain (Loss) [Line Items]
Realized (gain) loss on zinc zero cost collar	511	364
Unrealized gain on zinc zero cost collar	$ (137)	372
Zero Cost Collar | Zinc | Not designated as hedge
Derivative Instruments, Gain (Loss) [Line Items]
Realized (gain) loss on zinc zero cost collar		2,014
Unrealized gain on zinc zero cost collar		(1,844)
Total		$ 170

Other Expense, Net (Details)

Other Expense, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Other Expense, net
Unrealized foreign currency exchange loss	$ (174)	$ 1,286
Realized currency exchange loss	860	121
Realized and unrealized loss (gain) from gold and silver rounds, net	(12)	(28)
Loss on disposal of fixed assets	13	330
Interest on streaming liabilities	1,466	906
Severance	1,619	688
Other expense (income)	(408)	985
Total	$ 3,364	$ 4,288

Net Loss per Common Share - Nar

Net Loss per Common Share - Narrative (Details) - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net Loss per Common Share
Stock options excluded from computation of diluted weighted average share outstanding	0.8	1.5
Shares excluded from weighted average shares outstanding, exercise price	$ 2.99	$ 2.90

Net Loss per Common Share - Cal

Net Loss per Common Share - Calculation of Basic and Diluted Net Income per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net Loss per Common Share
Net loss	$ (16,017)	$ (6,321)
Basic weighted average common shares outstanding	88,514,243	88,368,250
Diluted weighted average common shares outstanding	88,514,243	88,368,250
Basic net loss per common share:
Basic net loss per common share	$ (0.18)	$ (0.07)
Diluted net loss per common share:
Diluted net loss per common share	$ (0.18)	$ (0.07)

Fair Value Measurement (Details

Fair Value Measurement (Details) $ / shares in Units, $ in Thousands, $ in Millions				12 Months Ended
	Dec. 28, 2022 USD ($) shares	Sep. 22, 2022 USD ($) shares	Sep. 22, 2022 CAD ($) shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares	Dec. 28, 2022 CAD ($) $ / shares
Maritime Resources Corp
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment made		$ 1,700	$ 2.4
Number of equity securities purchased | shares		47,000,000	47,000,000
Equity Investment				$ 1,596	$ 1,559
Share price | $ / shares						$ 0.045	$ 0.045
Green Light Metals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ownership percentage	28.50%							28.50%
Number of shares received in conversion of promissory note | shares	12,250,000
Equity Investment	$ 3,700			3,698	3,611			$ 4.9
Share price | $ / shares								$ 0.40
Maximum | Maritime Resources Corp
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ownership percentage		10%	10%
Accounts Receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized and unrealized derivative gain (loss), net				300	600
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents				6,254	23,675
Level 1 | Maritime Resources Corp
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in equity securities				1,596	1,559
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts receivable, net				4,335	5,085
Level 3 | Green Light Metals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in equity securities				$ 3,698	$ 3,611

Fair Value Measurement - Statem

Fair Value Measurement - Statement Of Income Classification (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value Statement Of Income Classification [Line Items]
Unrealized gain on zinc zero cost collar		$ 1,844
Sales, net
Fair Value Statement Of Income Classification [Line Items]
Realized and unrealized derivative gain (loss), net	$ (28)	(363)
Other expenses, net
Fair Value Statement Of Income Classification [Line Items]
Realized gain (loss) on zinc zero cost collar		(2,014)
Unrealized gain on zinc zero cost collar		$ 1,844

Fair Value Measurement - Realiz

Fair Value Measurement - Realized Unrealized Derivatives, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Realized gain (loss)	$ 298	$ (720)
Unrealized (loss) gain	(326)	357
Total realized/unrealized derivatives, net	(28)	(363)
Gold
Derivatives, Fair Value [Line Items]
Realized gain (loss)	295	(79)
Unrealized (loss) gain	(40)	136
Total realized/unrealized derivatives, net	255	57
Silver
Derivatives, Fair Value [Line Items]
Realized gain (loss)	334
Unrealized (loss) gain	(241)	433
Total realized/unrealized derivatives, net	93	433
Copper
Derivatives, Fair Value [Line Items]
Realized gain (loss)	6	(127)
Unrealized (loss) gain	4	7
Total realized/unrealized derivatives, net	10	(120)
Lead
Derivatives, Fair Value [Line Items]
Realized gain (loss)	174	(150)
Unrealized (loss) gain	(186)	153
Total realized/unrealized derivatives, net	(12)	3
Zinc
Derivatives, Fair Value [Line Items]
Realized gain (loss)	(511)	(364)
Unrealized (loss) gain	137	(372)
Total realized/unrealized derivatives, net	$ (374)	$ (736)

Supplementary Cash Flow Infor_3

Supplementary Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Supplementary Cash Flow Information
Unrealized gain on gold and silver rounds	$ (14)	$ (63)
Unrealized foreign currency exchange loss	(174)	1,286
Loss on disposition of fixed assets	13	408
Increase (decrease) in reserve for inventory	382	(264)
Unrealized gain on zinc zero cost collar		(1,844)
Other	384	521
Total other operating adjustments	$ 591	$ 44

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)
Number of geographic regions | segment	3
Balance sheet information
Total current assets	$ 26,495	$ 46,099
Total non-current assets	157,391	163,999
Total assets	183,886	210,098
Total current liabilities	11,325	24,682
Total non-current liabilities	75,868	73,652
Total shareholders' equity	96,693	111,764
Total liabilities and shareholders' equity	183,886	210,098
Income statement information
Sales, net	97,728	138,724
Total mine cost of sales, including depreciation	103,043	108,976
Exploration expenses	5,809	13,049
Total other costs and expenses, including G&A	10,628	14,461
(Benefit) provision for income taxes	(5,735)	8,559
Net income (loss)	(16,017)	(6,321)
Oaxaca, Mexico
Income statement information
Exploration expenses	4,167	4,244
Michigan, USA
Income statement information
Exploration expenses	1,642	8,805
Operating Segments | Oaxaca, Mexico
Balance sheet information
Total current assets	25,155	38,032
Total non-current assets	62,368	69,269
Total assets	87,523	107,301
Total current liabilities	10,029	20,035
Total non-current liabilities	12,559	11,460
Total shareholders' equity	64,935	75,806
Total liabilities and shareholders' equity	87,523	107,301
Capital investments	11,000	18,100
Income statement information
Sales, net	97,728	138,724
Total mine cost of sales, including depreciation	102,913	108,863
Exploration expenses	4,167	4,244
Total other costs and expenses, including G&A	2,693	2,741
(Benefit) provision for income taxes	(4,767)	8,061
Net income (loss)	(7,278)	14,815
Operating Segments | Michigan, USA
Balance sheet information
Total current assets	116	272
Total non-current assets	93,287	92,927
Total assets	93,403	93,199
Total current liabilities	59	3,352
Total non-current liabilities	62,792	60,648
Total shareholders' equity	30,552	29,199
Total liabilities and shareholders' equity	93,403	93,199
Capital investments	400	100
Income statement information
Total mine cost of sales, including depreciation	92	75
Exploration expenses	1,642	8,805
Total other costs and expenses, including G&A	529	1,415
(Benefit) provision for income taxes	(695)	(1,123)
Net income (loss)	(1,568)	(9,172)
Corporate and Other
Balance sheet information
Total current assets	1,224	7,795
Total non-current assets	1,736	1,803
Total assets	2,960	9,598
Total current liabilities	1,237	1,295
Total non-current liabilities	517	1,544
Total shareholders' equity	1,206	6,759
Total liabilities and shareholders' equity	2,960	9,598
Capital investments	0	0
Income statement information
Total mine cost of sales, including depreciation	38	38
Total other costs and expenses, including G&A	7,406	10,305
(Benefit) provision for income taxes	(273)	1,621
Net income (loss)	$ (7,171)	$ (11,964)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (16,017)	$ (6,321)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false