Gold Resource (GORO) 10-Q 6 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		93,523,028
Entity Central Index Key	0001160791
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED INTERIM

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 5,342	$ 6,254
Accounts receivable, net	4,577	4,335
Inventories, net	8,979	9,294
Prepaid expenses and other current assets	7,703	6,612
Total current assets	26,601	26,495
Property, plant, and mine development, net	131,791	138,626
Deferred tax assets, net	269	13,301
Other non-current assets	4,069	5,464
Total assets	162,730	183,886
Current liabilities:
Accounts payable	10,284	8,378
Mining royalty taxes payable, net	433	1,199
Accrued expenses and other current liabilities	1,550	1,748
Total current liabilities	12,267	11,325
Reclamation and remediation liabilities	11,212	11,795
Gold and silver stream agreements liability	50,028	44,932
Deferred tax liabilities, net	16,883	14,077
Contingent consideration	3,392	3,548
Other non-current liabilities	1,927	1,516
Total liabilities	95,709	87,193
Commitments and contingencies
Shareholders' equity:
Common stock - $0.001 par value, 200,000,000 shares authorized: 92,292,848 and 88,694,038 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	93	89
Additional paid-in capital	114,049	111,970
Accumulated deficit	(40,066)	(8,311)
Treasury stock at cost, 336,398 shares	(5,884)	(5,884)
Accumulated other comprehensive loss	(1,171)	(1,171)
Total shareholders' equity	67,021	96,693
Total liabilities and shareholders' equity	$ 162,730	$ 183,886

CONDENSED CONSOLIDATED INTERI_2

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
CONSOLIDATED BALANCE SHEETS
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	92,292,848	88,694,038
Common stock, shares outstanding	92,292,848	88,694,038
Treasury stock, shares	336,398	336,398

CONDENSED CONSOLIDATED INTERI_3

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Sales, net	$ 20,782	$ 24,807	$ 39,484	$ 56,035
Cost of sales:
Production costs	17,768	20,302	33,876	40,152
Depreciation and amortization	5,833	6,474	10,043	13,728
Reclamation and remediation	773	200	1,326	395
Total cost of sales	24,374	26,976	45,245	54,275
Mine gross (loss) profit	(3,592)	(2,169)	(5,761)	1,760
Costs and expenses:
General and administrative expenses	781	2,130	1,682	3,323
Exploration expenses	326	1,440	1,430	3,279
Stock-based compensation	225	7	444	604
Other expense, net	6,354	711	7,869	2,180
Total costs and expenses	7,686	4,288	11,425	9,386
Loss before income taxes	(11,278)	(6,457)	(17,186)	(7,626)
Income tax provisions (benefit)	16,456	(1,873)	14,569	(2,007)
Net loss	$ (27,734)	$ (4,584)	$ (31,755)	$ (5,619)
Net loss per common share:
Basic net loss per common share	$ (0.30)	$ (0.05)	$ (0.35)	$ (0.06)
Diluted net loss per common share	$ (0.30)	$ (0.05)	$ (0.35)	$ (0.06)
Weighted average shares outstanding:
Basic (in shares)	91,004,348	88,468,542	89,855,890	88,437,413
Diluted (in shares)	91,004,348	88,468,542	89,855,890	88,437,413
Oaxaca, Mexico
Costs and expenses:
Exploration expenses	$ 184	$ 1,045	$ 1,083	$ 2,434
Michigan, USA
Costs and expenses:
Exploration expenses	$ 142	$ 395	$ 347	$ 845

CONDENSED CONSOLIDATED INTERI_4

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Shares	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Treasury Stock	Accumulated Other Comprehensive Loss	Total
Balance at Dec. 31, 2022	$ 89	$ 111,024	$ 7,706	$ (5,884)	$ (1,171)	$ 111,764
Balance (in shares) at Dec. 31, 2022	88,734,507
Stock-based compensation		567				567
Common stock issued for vested restricted stock units (in shares)	88,570
Surrender of stock for taxes due on vesting		(11)				(11)
Surrender of stock for taxes due on vesting (in shares)	(18,137)
Net loss			(5,619)			(5,619)
Balance at Jun. 30, 2023	$ 89	111,580	2,087	(5,884)	(1,171)	106,701
Balance (in shares) at Jun. 30, 2023	88,804,940
Balance at Mar. 31, 2023	$ 89	111,286	6,671	(5,884)	(1,171)	110,991
Balance (in shares) at Mar. 31, 2023	88,804,940
Stock-based compensation		294				294
Net loss			(4,584)			(4,584)
Balance at Jun. 30, 2023	$ 89	111,580	2,087	(5,884)	(1,171)	106,701
Balance (in shares) at Jun. 30, 2023	88,804,940
Balance at Dec. 31, 2023	$ 89	111,970	(8,311)	(5,884)	(1,171)	96,693
Balance (in shares) at Dec. 31, 2023	89,030,436
Stock-based compensation		279				279
Common stock issued for vested restricted stock units (in shares)	196,991
Surrender of stock for taxes due on vesting		(31)				(31)
Surrender of stock for taxes due on vesting (in shares)	(76,994)
Net loss			(31,755)			(31,755)
Balance at Jun. 30, 2024	$ 93	114,049	(40,066)	(5,884)	(1,171)	67,021
Balance (in shares) at Jun. 30, 2024	92,629,246
Balance at Mar. 31, 2024	$ 89	112,073	(12,332)	(5,884)	(1,171)	92,775
Balance (in shares) at Mar. 31, 2024	89,126,872
Stock-based compensation		151				151
Common stock issued for vested restricted stock units (in shares)	36,255
Issuance of stock, net of issuance costs	$ 4	1,831				1,835
Issuance of stock, net of issuance costs (in shares)	3,478,813
Surrender of stock for taxes due on vesting		(6)				(6)
Surrender of stock for taxes due on vesting (in shares)	(12,694)
Net loss			(27,734)			(27,734)
Balance at Jun. 30, 2024	$ 93	$ 114,049	$ (40,066)	$ (5,884)	$ (1,171)	$ 67,021
Balance (in shares) at Jun. 30, 2024	92,629,246

CONDENSED CONSOLIDATED INTERI_5

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - ATM Agreement - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Subsidiary, Sale of Stock [Line Items]
Common stock sold	3,478,813	0	3,478,813	0
Agreement for net proceeds	$ 1.8		$ 1.8

CONDENSED CONSOLIDATED INTERI_6

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net loss			$ (31,755)	$ (5,619)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Deferred income tax expense (benefit)			14,045	(2,965)
Depreciation and amortization			11,010	13,772
Stock-based compensation	$ 225	$ 7	444	604
Interest on streaming liabilities	3,687	275	5,096	549
Other operating adjustments, net			2,841	616
Changes in operating assets and liabilities:
Accounts receivable			(242)	730
Inventories			436	1,762
Prepaid expenses and other current assets			(1,344)	(594)
Other non-current assets			(101)	(72)
Accounts payable and other accrued liabilities			1,802	(2,943)
Cash settled liability awards			(67)
Mining royalty and income taxes payable, net			(746)	(5,367)
Net cash provided by operating activities			1,419	473
Cash flows from investing activities:
Capital expenditures			(4,008)	(6,001)
Net cash used in investing activities			(4,008)	(6,001)
Cash flows from financing activities:
Proceeds from the ATM sales			1,835
Other financing activities			(33)	(16)
Net cash provided by (used in) financing activities			1,802	(16)
Effect of exchange rate changes on cash and cash equivalents			(125)	(174)
Net decrease in cash and cash equivalents			(912)	(5,718)
Cash and cash equivalents at beginning of period			6,254	23,675	$ 23,675
Cash and cash equivalents at end of period	$ 5,342	$ 17,957	5,342	17,957	$ 6,254
Supplemental Cash Flow Information
Income and mining taxes paid			1,072	6,068
Non-cash investing or financing activities
Value of Common Shares issued for RSU Redemption			49	62
Balance of capital expenditures in accounts payable			$ 502	$ 508

Basis of Preparation of Financi

Basis of Preparation of Financial Statements	6 Months Ended
	Jun. 30, 2024
Basis of Preparation of Financial Statements
Basis of Preparation of Financial Statements	1. Basis of Preparation of Financial Statements The Condensed Consolidated Interim Financial Statements (“interim financial statements”) of Gold Resource Corporation and its subsidiaries (collectively, the “Company”) are unaudited and have been prepared in accordance with the rules of the Securities and Exchange Commission (“SEC”) for interim statements. Certain information and footnote disclosures required by United States Generally Accepted Accounting Principles (“U.S. GAAP”) have been condensed or omitted as permitted by such rules. However, the Company believes that the disclosures included are adequate to make the information presented not misleading. In the opinion of management, all adjustments (including normal recurring adjustments) and disclosures necessary for a fair presentation of these interim financial statements have been included. The results reported in these interim financial statements do not necessarily indicate the results that may be reported for the entire year. These interim financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2023 included in the Company’s annual report on Form 10-K (the “2023 Annual Report”). The year-end balance sheet data was derived from the audited financial statements. Unless otherwise noted, there have been no material changes to the footnotes from those accompanying the audited consolidated financial statements contained in the 2023 Annual Report. In the presentation of certain operating cashflows in the statement of cashflows for 2023 have been reclassified to conform with current year presentation. This had no impact on total operating cashflows previously presented.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2024
New Accounting Pronouncements
New Accounting Pronouncements	2. New Accounting Pronouncements 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	6 Months Ended
	Jun. 30, 2024
Revenue
Revenue	3. Revenue The Company derives its revenue mainly from the sale of concentrates. The following table presents the Company’s net sales for each period presented, disaggregated by source: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ ​ (in thousands) ​ (in thousands) Doré sales, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ $ - ​ $ 543 ​ $ 24 ​ $ 2,268 Silver ​ ​ - ​ ​ 32 ​ ​ 1 ​ ​ 101 Less: Refining charges ​ ​ - ​ ​ (17) ​ ​ (6) ​ ​ (42) Total doré sales, net ​ ​ - ​ ​ 558 ​ ​ 19 ​ ​ 2,327 Concentrate sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ ​ 6,358 ​ ​ 7,949 ​ ​ 13,757 ​ ​ 18,571 Silver ​ ​ 6,840 ​ ​ 6,609 ​ ​ 11,908 ​ ​ 13,182 Copper ​ ​ 1,941 ​ ​ 2,749 ​ ​ 4,182 ​ ​ 5,743 Lead ​ ​ 1,060 ​ ​ 2,782 ​ ​ 2,424 ​ ​ 5,747 Zinc ​ ​ 4,941 ​ ​ 7,928 ​ ​ 9,063 ​ ​ 17,479 Less: Treatment and refining charges ​ ​ (1,439) ​ ​ (3,311) ​ ​ (3,016) ​ ​ (6,470) Total concentrate sales, net ​ ​ 19,701 ​ ​ 24,706 ​ ​ 38,318 ​ ​ 54,252 Realized gain - embedded derivative, net (1) ​ ​ 966 ​ ​ 248 ​ ​ 989 ​ ​ 882 Unrealized gain (loss) - embedded derivative, net ​ ​ 115 ​ ​ (705) ​ ​ 158 ​ ​ (1,426) Total sales, net ​ $ 20,782 ​ $ 24,807 ​ $ 39,484 ​ $ 56,035 (1) Copper, lead, and zinc are co-products. In the Realized gain - embedded derivative, net, there is $0.3 million gain related to these co-products for both the three and six months ended June 30, 2024. There is $0.1 million loss and $0.3 million gain, respectively, in the Realized gain - embedded derivative, net, related to the co-products for the three and six months ended June 30, 2023.

Inventories, net

Inventories, net	6 Months Ended
	Jun. 30, 2024
Inventories, net
Inventories, net	4. Inventories, net ​ At June 30, 2024 and December 31, 2023, inventories, net, consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Stockpiles - underground mine ​ $ 941 ​ $ 534 Concentrates ​ ​ 1,494 ​ ​ 1,768 Doré, net ​ ​ 169 ​ ​ 169 Subtotal - product inventories ​ ​ 2,604 ​ ​ 2,471 Materials and supplies (1) ​ ​ 6,375 ​ ​ 6,823 Total ​ $ 8,979 ​ $ 9,294 ​ (1) Net of reserve for obsolescence of $0.5 million as of both June 30, 2024 and December 31, 2023.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Taxes
Income Taxes	5. Income Taxes The Company recorded income tax provisions of $16.5 and $14.6 million, respectively, for the three and six months ended June 30, 2024. For the three and six months ended June 30, 2023, the Company recorded an income tax benefit of $1.9 million and $2.0 million, respectively. In accordance with applicable accounting rules, the interim provision for taxes is calculated using the estimated consolidated annual effective tax rate. The consolidated effective tax rate is a function of the combined effective tax rates for the jurisdictions in which the Company operates. Variations in the relative proportions of jurisdictional income could result in fluctuations to the Company’s consolidated effective tax rate. At the federal level, the Company’s income in the U.S. is taxed at 21%, and a 5% withholding tax applies to dividends received from Mexico. Income in Mexico is taxed at 37.5% (30% income tax and 7.5% mining tax), and Canada’s income is taxed at 26.5%, which results in a consolidated effective tax rate above statutory U.S. Federal rates. The U.S. and certain Canadian jurisdictions do not currently generate taxable income. Mexico Valuation Allowance The Company recorded a valuation allowance on the Mexico Income Tax net deferred tax assets as of June 30, 2024 in the amount of $12.8 million. In accordance with applicable accounting rules, a valuation allowance is recorded when it is more likely than not that some portion of the deferred tax assets will not be realized, after considering all available evidence, both positive and negative. The Company determined a valuation allowance on Mexico Income Tax deferred tax assets was necessary due primarily to the recent losses at the Mexico mine. 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 generally applies to earnings before income tax, depreciation, depletion, amortization, and interest. In calculating the mining royalty tax, there are no corporate deductions related to depreciable costs from operational fixed assets. However, prospecting and exploration expenses are amortized using a 10% rate in a 10-year 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 higher than Mexico’s statutory rate. The Company periodically transfers funds from its Mexican wholly owned subsidiary to the U.S. as dividends, which are subject to a 10% Mexico withholding tax, unless otherwise provided per a tax treaty. The current U.S.-Mexico tax treaty limits the dividend withholding tax between these countries to 5%, as long as specific requirements are met. Based on the Company’s understanding that it meets these requirements, the Company pays a 5% withholding tax on dividends paid from Mexico. The estimated annual effective tax rate reflects the impact of the planned annual transfers for 2024. In October 2023, the Company received a notification from the Mexican Tax Administration Services (“SAT”) with a sanction of 331 million pesos (approximately $18 million as of June 30, 2024) 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 June 30, 2024 and December 31, 2023, 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	6 Months Ended
	Jun. 30, 2024
Prepaid Expenses And Other Current Assets
Prepaid Expenses and Other Current Assets	6. Prepaid Expenses and Other Current Assets At June 30, 2024 and December 31, 2023, prepaid expenses and other current assets consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Advances to suppliers ​ $ 80 ​ $ 266 Prepaid insurance ​ ​ 2,333 ​ ​ 1,103 Prepaid income tax ​ ​ 4,229 ​ ​ 4,589 Other current assets ​ ​ 1,061 ​ ​ 654 Total ​ $ 7,703 ​ $ 6,612 ​ Prepaid income tax Mexican tax statutes specify that the current year tax prepayments be calculated based on a coefficient for prior year earnings, regardless of current year results. Starting in the third quarter of each year, these same statutes allow companies to request a reduction of the coefficient, which adjusts for losses experienced in the current year. During 2023, DDGM had to prepay approximately $76 million pesos ($4 million) despite of the losses for the year. In 2024, these overpayments can be used to offset the required 2024 tax prepayments, and as a result, no income tax payments are expected in 2024. Other current assets A value added (“IVA”) tax in Mexico is assessed on the sales of products and purchases of materials and services. Businesses owe IVA taxes as the business sells a product and collects IVA taxes from its customers. Likewise, 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 payable or receivable, since there is a legal right of offset of IVA taxes. As of June 30, 2024 and December 31,2023, this resulted in an asset balance of $0.6 million and $0.4 million, respectively, included in Other current assets.

Property, Plant, and Mine Devel

Property, Plant, and Mine Development, net	6 Months Ended
	Jun. 30, 2024
Property, Plant, and Mine Development, net
Property, Plant, and Mine Development, net	7. Property, Plant, and Mine Development, net At June 30, 2024 and December 31, 2023, property, plant, and mine development, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Asset retirement costs (“ARO asset”) ​ $ 6,227 ​ $ 6,227 Construction-in-progress ​ ​ 865 ​ ​ 243 Furniture and office equipment ​ ​ 1,791 ​ ​ 1,781 Land ​ ​ 9,033 ​ ​ 9,033 Mineral interest ​ ​ 79,543 ​ ​ 79,543 Light vehicles and other mobile equipment ​ ​ 2,118 ​ ​ 2,126 Machinery and equipment ​ ​ 43,106 ​ ​ 42,887 Mill facilities and infrastructure ​ ​ 36,395 ​ ​ 36,396 Mine development ​ ​ 118,676 ​ ​ 115,230 Software and licenses ​ ​ 1,554 ​ ​ 1,554 Subtotal ​ ​ 299,308 ​ ​ 295,020 Accumulated depreciation and amortization ​ ​ (167,517) ​ ​ (156,394) Total ​ $ 131,791 ​ $ 138,626 ​ The Company recorded depreciation and amortization expense of $5.8 million and $10.0 million for the three and six months ended June 30, 2024, respectively, and $6.5 million and $13.7 million, for the three and six months ended June 30, 2023, respectively.

Other Non-current Assets

Other Non-current Assets	6 Months Ended
	Jun. 30, 2024
Other Non-current Assets
Other Non-current Assets	8. Other Non-current Assets At June 30, 2024 and December 31, 2023, other non-current assets consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Investment in Maritime ​ $ 1,718 ​ $ 1,596 Investment in Green Light Metals ​ ​ 2,239 ​ ​ 3,698 Other non-current assets ​ ​ 112 ​ ​ 170 Total ​ $ 4,069 ​ $ 5,464 ​ Investment in Maritime On September 22, 2022, the Company invested 2.4 million Canadian Dollar (“C$”) (or $1.7 million) in 47 million common shares of Maritime Resources Corp; the shares purchased represented 9.9% of the issued and outstanding shares of Maritime at the time. As of June 30, 2024 and December 31, 2023, the fair value of the investment was $1.7 and $1.6 million, respectively. Investment in Green Light Metals 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 Resources Inc. (“Aquila”) acquisition. This represented approximately 28.5% ownership in Green Light Metals at the time. As of June 30, 2024 and December 31, 2023, the fair value of this equity investment was $2.2 million and $3.7 million, respectively.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2024
Accrued Expenses and Other Liabilities
Accrued Expenses and Other Liabilities	9. Accrued Expenses and Other Liabilities At June 30, 2024 and December 31, 2023, accrued expenses and other liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Accrued royalty payments ​ $ 715 ​ $ 726 Share-based compensation liability - current ​ ​ 102 ​ ​ 67 Employee profit sharing obligation ​ ​ 6 ​ ​ 67 Other payables ​ ​ 727 ​ ​ 888 Total accrued expenses and other current liabilities ​ $ 1,550 ​ $ 1,748 ​ ​ ​ ​ ​ ​ ​ Accrued non-current labor obligation ​ $ 1,537 ​ $ 1,167 Share-based compensation liability ​ ​ 383 ​ ​ 320 Other long-term liabilities ​ ​ 7 ​ ​ 29 Total other non-current liabilities ​ $ 1,927 ​ $ 1,516 ​

Gold and Silver Stream Agreemen

Gold and Silver Stream Agreements	6 Months Ended
	Jun. 30, 2024
Gold and Silver Stream Agreements
Gold and Silver Stream Agreements	10. Gold and Silver Stream Agreements The following table presents the Company’s liabilities related to the Company’s Gold and Silver Stream Agreements with Osisko Bermuda Limited (“OBL”), a wholly owned subsidiary of Osisko Gold Royalties Ltd (TSX & NYSE: OR), as of June 30, 2024 and December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Liability related to the Gold Stream Agreement ​ $ 23,329 ​ $ 21,002 Liability related to the Silver Stream Agreement ​ ​ 26,699 ​ ​ 23,930 Total liability ​ $ 50,028 ​ $ 44,932 ​ Periodic interest expense is 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 Condensed Consolidated Interim Statements of Operations Condensed Consolidated Interim Balance Sheets. 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 OBL. If the Company fails to do so, OBL 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 OBL, 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 OBL, 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 June 30, 2024. In March 2024, 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 June 30, 2024 is shown as a long-term liability on the Condensed Consolidated Interim Balance Sheets Condensed Consolidated Interim Balance Sheets. ​ 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 OBL. Please see Note 12—Commitments and Contingencies Item 1—Condensed Consolidated Interim Financial Statements and Notes (unaudited) . 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 June 30, 2024. 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 June 30, 2024. In March 2024, 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 June 30, 2024 is shown as a long-term liability on the Condensed Consolidated Interim Balance Sheets Note 12—Commitments and Contingencies Item 1—Condensed Consolidated Interim Financial Statements and Notes (unaudited)

Reclamation and Remediation

Reclamation and Remediation	6 Months Ended
	Jun. 30, 2024
Reclamation and Remediation
Reclamation and Remediation	11. Reclamation and Remediation The following table presents the changes in reclamation and remediation obligations for the six months ended June 30, 2024 and for the year ended December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Reclamation liabilities – balance at beginning of period ​ $ 2,233 ​ $ 1,949 Foreign currency exchange loss ​ ​ (180) ​ ​ 284 Reclamation liabilities – balance at end of period ​ ​ 2,053 ​ ​ 2,233 ​ ​ ​ ​ ​ ​ ​ Asset retirement obligation – balance at beginning of period (1) ​ ​ 9,562 ​ ​ 8,417 Changes in estimate (1) ​ ​ - ​ ​ (1,221) Liability for Aquila drillhole capping ​ ​ - ​ ​ 404 Accretion ​ ​ 361 ​ ​ 689 Foreign currency exchange loss ​ ​ (764) ​ ​ 1,273 Asset retirement obligation – balance at end of period ​ ​ 9,159 ​ ​ 9,562 Total period end balance ​ $ 11,212 ​ $ 11,795 ​ (1) In 2023, the Company updated its closure plan study, which resulted in a $1.2 million decrease in the estimated liability and asset retirement costs. ​ The Company’s undiscounted reclamation liabilities of $ 2.1 million and $2.2 million as of June 30, 2024 and December 31, 2023, respectively, are related to the Don David Gold Mine in Mexico. These represent reclamation liabilities that were expensed through 2013 before proven and probable 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, and Mine Development, post-2013 development stage status, which are discounted using a credit adjusted risk-free rate of 8%. As of June 30, 2024 and December 31, 2023, the Company’s asset retirement obligation was $9.2 million and $9.6 million, respectively, primarily related to the Don David Gold Mine in Mexico.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies.
Commitments and Contingencies	12. Commitments and Contingencies Commitments As of June 30, 2024 and December 31, 2023, the Company has equipment purchase commitments of $0.9 million and $0.8 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; a. 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 reclassified 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 as of June 30, 2024 and December 31, 2023 was $3.4 million and $3.5 million, respectively. The contingent consideration is adjusted for the time value of money and the likelihood of the milestone payments. Any future change in the value of the contingent consideration is recognized in other expense, net, in the Condensed Consolidated Interim Statements of Operations The following table shows the change in the balance of the contingent consideration for the six months ended June 30, 2024 and for the year ended December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Beginning Balance of contingent consideration: ​ ​ ​ ​ ​ ​ Current contingent consideration ​ $ - ​ $ 2,211 Non-current contingent consideration ​ ​ 3,548 ​ ​ 2,179 ​ ​ $ 3,548 ​ $ 4,390 ​ ​ ​ ​ ​ ​ ​ Change in value ​ $ - ​ $ (2,211) Change in value ​ ​ (156) ​ ​ 1,369 ​ ​ ​ ​ ​ ​ ​ Ending Balance of contingent consideration: ​ ​ ​ ​ ​ ​ Current contingent consideration ​ $ - ​ $ - Non-current contingent consideration ​ ​ 3,392 ​ ​ 3,548 ​ ​ $ 3,392 ​ $ 3,548 ​ Other Contingencies The Company has certain other contingencies resulting from litigation, claims, and other commitments and is subject to various 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. There can be no assurance that the ultimate disposition of contingencies will not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. 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 OBL. Under the agreements, OBL 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 OBL. If it fails to do so, OBL 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	6 Months Ended
	Jun. 30, 2024
Shareholders' Equity
Shareholders' Equity	13. Shareholders’ Equity 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”), was renewed on April 3, 2024, 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 $14.9 million. During both the three and six months ended June 30, 2024, an aggregate of 3,478,813 shares of the Company’s common stock were sold and settled through the ATM agreement for net proceeds to the Company of $1.8 million, after deducting $0.1 million for Agent’s commissions and other expenses. During both the three and six months ended June 30, 2023, no shares of the Company’s common stock sold through the ATM agreement.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2024
Derivatives
Derivatives	14. Derivatives Embedded Derivatives 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 sales to reflect the mark-to-market adjustments for outstanding provisional invoices based on forward metal prices. Please see Note—19 Fair Value Measurement Item 1—Condensed Consolidated Interim Financial Statements and Notes (unaudited) The following table summarizes the Company’s unsettled sales contracts at June 30, 2024 with the quantities of metals under contract subject to final pricing expected to occur through September 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ ​ Total ​ ​ (ounces) ​ (ounces) ​ (tonnes) ​ (tonnes) ​ (tonnes) ​ ​ ​ Under contract ​ ​ 1,866 ​ ​ 223,427 ​ ​ 103 ​ ​ 918 ​ ​ 1,847 ​ ​ ​ Average forward price (per ounce or tonne) ​ $ 2,321 ​ $ 28.68 ​ $ 9,838 ​ $ 2,114 ​ $ 2,791 ​ ​ ​ Unsettled sales contracts value (in thousands) ​ $ 4,331 ​ $ 6,408 ​ $ 1,013 ​ $ 1,941 ​ $ 5,155 ​ $ 18,848 ​ The Company manages credit risk by entering into arrangements with counterparties believed to be financially strong, and by requiring other credit risk mitigants, as appropriate. The Company actively evaluates the implicit creditworthiness of its counterparties, and monitors credit exposures.

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2024
Employee Benefits
Employee Benefits	15. 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 allows eligible employees 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 Note 9 — Accrued Expenses and Other Liabilities Item 1—Condensed Consolidated Interim Financial Statements and Notes (unaudited)

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Stock-Based Compensation
Stock-Based Compensation	16. Stock-Based Compensation The Company’s compensation program comprises three main elements: (1) base salary, (2) an annual short-term incentive plan (“STIP”) award which may be in the form of cash or Deferred Share Units (“DSUs”) with immediate vesting, and (3) long-term equity-based incentive compensation (“LTIP”) in the form of Performance Share Units (“PSUs”), Restricted Share Units (“RSUs”), and stock options. 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 DSUs. The Company’s STIP for its management team provides annual award, which may be settled as a cash payable through the issuance of fully vested equity awards (such as fully vested stock grants or DSUs), or a combination of cash and stock awards (DSUs), upon achievement of specified performance metrics. As of June 30, 2024, the Company has a $0.3 million liability accrued for the 2024 bonuses in accrued expenses and other current liabilities Stock-based compensation expense for the periods presented is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ ​ (in thousands) ​ (in thousands) Stock options ​ $ - ​ $ 120 ​ $ 22 ​ $ 240 Restricted stock units ​ ​ 151 ​ ​ 174 ​ ​ 257 ​ ​ 327 Performance stock units ​ ​ 94 ​ ​ 1 ​ ​ 128 ​ ​ (32) Deferred stock units ​ ​ (20) ​ ​ (288) ​ ​ 37 ​ ​ 69 Total ​ $ 225 ​ $ 7 ​ $ 444 ​ $ 604 ​ Stock Options A summary of stock option activities under the Incentive Plan for the six months ended June 30, 2024 and 2023 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock Options ​ Weighted Average Exercise Price (per share) Outstanding as of December 31, 2022 ​ 1,475,316 ​ $ 2.90 Expired or Forfeited ​ (10,000) ​ ​ 6.24 Outstanding as of June 30, 2023 ​ 1,465,316 ​ $ 2.88 ​ ​ ​ ​ ​ ​ Outstanding as of December 31, 2023 ​ 840,612 ​ $ 2.99 Grant / Exercise / Forfeiture ​ - ​ ​ - Outstanding as of June 30, 2024 ​ 840,612 ​ $ 2.99 ​ ​ ​ ​ ​ ​ Vested and exercisable as of June 30, 2024 ​ 840,612 ​ $ 2.99 ​ Restricted Stock Units A summary of RSU activities under the Incentive Plan for the six months ended June 30, 2024 and 2023 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted Stock Units ​ Aggregate Intrinsic Value (in thousands) Nonvested as of December 31, 2022 ​ 575,548 ​ $ 881 Granted ​ 779,192 ​ ​ ​ Vested but not redeemed (deferred) ​ (106,955) ​ ​ ​ Vested and redeemed ​ (70,433) ​ ​ ​ Vested and forfeited for net settlement ​ (18,137) ​ ​ ​ Forfeited ​ (74,084) ​ ​ ​ Nonvested as of June 30, 2023 ​ 1,085,131 ​ $ 684 ​ ​ ​ ​ ​ ​ Nonvested as of December 31, 2023 ​ 847,255 ​ $ 319 Granted ​ 832,091 ​ ​ ​ Granted in lieu of bonus ​ 637,929 ​ ​ ​ Vested but not redeemed (deferred) ​ (134,257) ​ ​ ​ Vested and redeemed ​ (119,997) ​ ​ ​ Vested and forfeited for net settlement ​ (76,994) ​ ​ ​ Forfeited ​ (50,435) ​ ​ ​ Nonvested as of June 30, 2024 ​ 1,935,592 ​ $ 716 ​ Performance Stock Units A summary of PSU activities under the Incentive Plan for the six months ended June 30, 2024 and 2023 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Performance Share Units ​ ​ Liability Balance (in thousands) Outstanding as of December 31, 2022 ​ 695,041 ​ $ 332 Granted ​ 534,890 ​ ​ ​ Forfeited ​ (98,483) ​ ​ ​ Outstanding as of June 30, 2023 ​ 1,131,448 ​ $ 301 ​ ​ ​ ​ ​ ​ Outstanding as of December 31, 2023 ​ 880,926 ​ $ 164 Granted ​ 682,367 ​ ​ ​ Forfeited ​ (33,113) ​ ​ ​ Redeemed ​ (201,258) ​ ​ ​ Outstanding as of June 30, 2024 ​ 1,328,922 ​ $ 225 ​ Deferred Stock Units A summary of DSU activities under the Incentive Plan for the six months ended June 30, 2024 and 2023 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred Stock Units ​ ​ Liability Balance (in thousands) Outstanding as of December 31, 2022 ​ 360,699 ​ $ 552 Granted ​ 278,663 ​ ​ ​ Granted in lieu of board fees ​ 31,301 ​ ​ ​ Granted in lieu of executive bonus ​ 212,407 ​ ​ ​ Redeemed ​ (323,900) ​ ​ ​ Outstanding as of June 30, 2023 ​ 559,170 ​ $ 352 ​ ​ ​ ​ ​ ​ Outstanding as of December 31, 2023 ​ 586,291 ​ $ 223 Granted in lieu of board fees ​ 116,472 ​ ​ ​ Outstanding as of June 30, 2024 ​ 702,763 ​ $ 260 ​

Other Expense, Net

Other Expense, Net	6 Months Ended
	Jun. 30, 2024
Other Expense, net
Other Expense, net	17. Other Expense, net Other expense, net, for the periods presented consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ ​ (in thousands) ​ (in thousands) Unrealized currency exchange loss (gain) (1) ​ $ 1,385 ​ $ (114) ​ $ 1,331 ​ $ 339 Realized currency exchange (gain) loss ​ ​ (260) ​ ​ 133 ​ ​ (157) ​ ​ 309 Realized and unrealized (gain) loss from gold and silver rounds, net ​ ​ (8) ​ ​ 6 ​ ​ (16) ​ ​ (3) Loss on disposal of fixed assets ​ ​ - ​ ​ 12 ​ ​ - ​ ​ 12 Interest on streaming liabilities ​ ​ 3,687 ​ ​ 275 ​ ​ 5,096 ​ ​ 549 Severance ​ ​ 317 ​ ​ 267 ​ ​ 676 ​ ​ 877 Other expense ​ ​ 1,233 ​ ​ 132 ​ ​ 939 ​ ​ 97 Total ​ $ 6,354 ​ $ 711 ​ $ 7,869 ​ $ 2,180 ​ (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. For additional information regarding the Company’s fair value measurements and investments, please see Note 19—Fair Value Measurement in Item 1—Condensed Consolidated Interim Financial Statements and Notes (unaudited) for additional information .

Net Loss per Common Share

Net Loss per Common Share	6 Months Ended
	Jun. 30, 2024
Net Loss per Common Share
Net Loss per Common Share	18. Net Loss per Common Share Basic net income per common share is calculated based on the weighted average number of common shares outstanding for the period. Diluted earnings per common share are calculated based on the assumption that stock options and other dilutive securities outstanding, which have an exercise price less than the average market price of the Company’s common shares 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 RSUs are anti-dilutive due to the Company’s net loss for the period. Since PSUs and DSUs are expected to be cash settled, they are not included in the dilutive calculation. 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 price of $2.99 were outstanding as of June 30, 2024, but had no dilutive effect due to the net loss for the period. Options to purchase 1.5 million shares of common stock at a weighted average exercise price of $2.88 were outstanding as of June 30, 2023 but had no dilutive effect due to the net loss for the period. Basic and diluted net income per common share is calculated as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the six months ended ​ ​ June 30, ​ June 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss (in thousands) ​ $ (27,734) ​ $ (4,584) ​ $ (31,755) ​ $ (5,619) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares of common stock outstanding ​ ​ 91,004,348 ​ ​ 88,468,542 ​ ​ 89,855,890 ​ ​ 88,437,413 Dilutive effect of share-based awards ​ ​ - ​ ​ - ​ ​ - ​ ​ - Basic and diluted weighted average common shares outstanding ​ ​ 91,004,348 ​ ​ 88,468,542 ​ ​ 89,855,890 ​ ​ 88,437,413 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net loss per common share ​ $ (0.30) ​ $ (0.05) ​ $ (0.35) ​ $ (0.06) ​

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 and December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ ​ June 30, ​ December 31, ​ Input Hierarchy Level ​ ​ 2024 ​ 2023 ​ ​ ​ ​ (in thousands) ​ ​ Cash and cash equivalents ​ $ 5,342 ​ $ 6,254 ​ Level 1 Accounts receivable, net ​ $ 4,577 ​ $ 4,335 ​ Level 2 Investment in equity securities-Maritime ​ $ 1,718 ​ $ 1,596 ​ Level 1 Investment in equity securities-Green Light Metals ​ $ 2,239 ​ $ 3,698 ​ 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: At June 30, 2024 and December 31, 2023, the Company had an unrealized gain of $0.4 million and an unrealized gain of $0.3 million, respectively, included in its accounts receivable on the accompanying Condensed Consolidated Interim Balance Sheets Note 14—Derivatives Item 1—Condensed Consolidated Interim Financial Statements and Notes (unaudited) Investment in equity securities—Maritime Investment in equity securities—Green Light Metals Gains and losses related to changes in the fair value of embedded derivatives were included in the Company’s Condensed Consolidated Interim Statements of Operations, as shown in the following table (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ Statements of Operations Classification ​ ​ 2024 ​ 2023 ​ ​ 2024 ​ 2023 ​ ​ ​ Note (in thousands) ​ ​ Realized and unrealized derivative gain (loss), net 14 $ 1,081 ​ $ (457) ​ ​ $ 1,147 ​ $ (544) ​ Sales, net ​ Realized/Unrealized Derivatives The following tables summarize the Company’s realized/unrealized derivatives for the periods presented (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ Total For the three months ended June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized gain ​ $ 358 ​ $ 312 ​ $ 115 ​ $ 37 ​ $ 144 ​ $ 966 Unrealized (loss) gain ​ ​ (148) ​ ​ 52 ​ ​ (45) ​ ​ 15 ​ ​ 241 ​ ​ 115 Total realized/unrealized derivatives, net ​ $ 210 ​ $ 364 ​ $ 70 ​ $ 52 ​ $ 385 ​ $ 1,081 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ Total For the three months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized gain (loss) ​ $ 127 ​ $ 196 ​ $ (8) ​ $ 54 ​ $ (121) ​ $ 248 Unrealized (loss) gain ​ ​ (44) ​ ​ (34) ​ ​ (46) ​ ​ 93 ​ ​ (674) ​ ​ (705) Total realized/unrealized derivatives, net ​ $ 83 ​ $ 162 ​ $ (54) ​ $ 147 ​ $ (795) ​ $ (457) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ Total For the six months ended June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized gain (loss) ​ $ 386 ​ $ 285 ​ $ 127 ​ $ (7) ​ $ 198 ​ $ 989 Unrealized (loss) gain ​ ​ (36) ​ ​ 132 ​ ​ (47) ​ ​ 74 ​ ​ 35 ​ ​ 158 Total realized/unrealized derivatives, net ​ $ 350 ​ $ 417 ​ $ 80 ​ $ 67 ​ $ 233 ​ $ 1,147 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ Total For the six months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized gain ​ $ 241 ​ $ 345 ​ $ 46 ​ $ 148 ​ $ 102 ​ $ 882 Unrealized loss ​ ​ (81) ​ ​ (305) ​ ​ (56) ​ ​ (10) ​ ​ (974) ​ ​ (1,426) Total realized/unrealized derivatives, net ​ $ 160 ​ $ 40 ​ $ (10) ​ $ 138 ​ $ (872) ​ $ (544) ​

Supplementary Cash Flow Informa

Supplementary Cash Flow Information	6 Months Ended
	Jun. 30, 2024
Supplementary Cash Flow Information
Supplementary Cash Flow Information	20. Supplementary Cash Flow Information Other operating adjustments and write-downs within net cash provided by operating activities on the Condensed Consolidated Interim Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Unrealized gain on gold and silver rounds ​ $ (16) ​ $ (4) Unrealized foreign currency exchange loss ​ ​ 1,331 ​ ​ 339 Unrealized loss on investments ​ ​ 1,168 ​ ​ 179 Other ​ ​ 358 ​ ​ 102 Total other operating adjustments, net ​ $ 2,841 ​ $ 616 ​

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2024
Segment Reporting
Segment Reporting	21. Segment Reporting As of June 30, 2024 the Company has organized its operations into three geographic regions: 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 does not have any intersegment revenue, and all intercompany transactions 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 Condensed Consolidated Interim Balance Sheets relating to the Company’s segments (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaxaca, Mexico ​ Michigan, USA ​ Corporate and Other ​ Consolidated As of June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets ​ $ 25,403 ​ $ 70 ​ $ 1,128 ​ $ 26,601 Total non-current assets (1) ​ ​ 42,281 ​ ​ 91,772 ​ ​ 2,076 ​ ​ 136,129 Total assets ​ $ 67,684 ​ $ 91,842 ​ $ 3,204 ​ $ 162,730 Total current liabilities ​ $ 11,213 ​ $ 22 ​ $ 1,032 ​ $ 12,267 Total non-current liabilities ​ ​ 14,678 ​ ​ 68,312 ​ ​ 452 ​ ​ 83,442 Total shareholders’ equity ​ ​ 41,793 ​ ​ 23,508 ​ ​ 1,720 ​ ​ 67,021 Total liabilities and shareholders’ equity ​ $ 67,684 ​ $ 91,842 ​ $ 3,204 ​ $ 162,730 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 (1) As of June 30, 2024, the total non-current assets included capital investments of $4.3 million in Oaxaca, Mexico, nil in Michigan, USA, and nil in Corporate and Other. As of December 31, 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. The following table shows selected information from the Condensed Consolidated Interim Statements of Operations relating to the Company’s segments (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaxaca, Mexico ​ Michigan, USA ​ Corporate and Other ​ Consolidated For the three months ended June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, net ​ $ 20,782 ​ $ - ​ $ - ​ $ 20,782 Total mine cost of sales, including depreciation ​ ​ 24,339 ​ ​ 27 ​ ​ 8 ​ ​ 24,374 Exploration expense ​ ​ 184 ​ ​ 142 ​ ​ - ​ ​ 326 Total other costs and expenses, including G&A ​ ​ 1,315 ​ ​ 4,860 ​ ​ 1,185 ​ ​ 7,360 Income tax provision (benefit) ​ ​ 15,986 ​ ​ 734 ​ ​ (264) ​ ​ 16,456 Net loss ​ $ (21,042) ​ $ (5,763) ​ $ (929) ​ $ (27,734) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaxaca, Mexico ​ Michigan, USA ​ Corporate and Other ​ Consolidated For the three months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, net ​ $ 24,807 ​ $ - ​ $ - ​ $ 24,807 Total mine cost of sales, including depreciation ​ ​ 26,376 ​ ​ 28 ​ ​ 572 ​ ​ 26,976 Exploration expense ​ ​ 1,045 ​ ​ 395 ​ ​ - ​ ​ 1,440 Total other costs and expenses, including G&A ​ ​ 72 ​ ​ (30) ​ ​ 2,806 ​ ​ 2,848 Income tax benefit ​ ​ (1,612) ​ ​ (215) ​ ​ (46) ​ ​ (1,873) Net loss ​ $ (1,074) ​ $ (178) ​ $ (3,332) ​ $ (4,584) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaxaca, Mexico ​ Michigan, USA ​ Corporate and Other ​ Consolidated For the six months ended June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, net ​ $ 39,484 ​ ​ - ​ ​ - ​ $ 39,484 Total mine cost of sales, including depreciation ​ ​ 45,174 ​ ​ 55 ​ ​ 16 ​ ​ 45,245 Exploration expense ​ ​ 1,083 ​ ​ 347 ​ ​ - ​ ​ 1,430 Total other costs and expenses, including G&A ​ ​ 1,615 ​ ​ 6,398 ​ ​ 1,982 ​ ​ 9,995 Income tax provision (benefit) ​ ​ 14,183 ​ ​ 580 ​ ​ (194) ​ ​ 14,569 Net loss ​ $ (22,571) ​ $ (7,380) ​ $ (1,804) ​ $ (31,755) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, net ​ $ 56,035 ​ $ - ​ $ - ​ $ 56,035 Total mine cost of sales, including depreciation ​ ​ 53,036 ​ ​ 42 ​ ​ 1,197 ​ ​ 54,275 Exploration expense ​ ​ 2,434 ​ ​ 845 ​ ​ - ​ ​ 3,279 Total other costs and expenses, including G&A ​ ​ 703 ​ ​ 214 ​ ​ 5,190 ​ ​ 6,107 Income tax benefit ​ ​ (1,562) ​ ​ (437) ​ ​ (8) ​ ​ (2,007) Net income (loss) ​ $ 1,424 ​ $ (664) ​ $ (6,379) ​ $ (5,619) ​ ​

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (27,734)	$ (4,584)	$ (31,755)	$ (5,619)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
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

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2024
New Accounting Pronouncements
New Accounting Pronouncements	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 (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue
Summary of revenue from the sale of concentrate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ ​ (in thousands) ​ (in thousands) Doré sales, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ $ - ​ $ 543 ​ $ 24 ​ $ 2,268 Silver ​ ​ - ​ ​ 32 ​ ​ 1 ​ ​ 101 Less: Refining charges ​ ​ - ​ ​ (17) ​ ​ (6) ​ ​ (42) Total doré sales, net ​ ​ - ​ ​ 558 ​ ​ 19 ​ ​ 2,327 Concentrate sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ ​ 6,358 ​ ​ 7,949 ​ ​ 13,757 ​ ​ 18,571 Silver ​ ​ 6,840 ​ ​ 6,609 ​ ​ 11,908 ​ ​ 13,182 Copper ​ ​ 1,941 ​ ​ 2,749 ​ ​ 4,182 ​ ​ 5,743 Lead ​ ​ 1,060 ​ ​ 2,782 ​ ​ 2,424 ​ ​ 5,747 Zinc ​ ​ 4,941 ​ ​ 7,928 ​ ​ 9,063 ​ ​ 17,479 Less: Treatment and refining charges ​ ​ (1,439) ​ ​ (3,311) ​ ​ (3,016) ​ ​ (6,470) Total concentrate sales, net ​ ​ 19,701 ​ ​ 24,706 ​ ​ 38,318 ​ ​ 54,252 Realized gain - embedded derivative, net (1) ​ ​ 966 ​ ​ 248 ​ ​ 989 ​ ​ 882 Unrealized gain (loss) - embedded derivative, net ​ ​ 115 ​ ​ (705) ​ ​ 158 ​ ​ (1,426) Total sales, net ​ $ 20,782 ​ $ 24,807 ​ $ 39,484 ​ $ 56,035 (1) Copper, lead, and zinc are co-products. In the Realized gain - embedded derivative, net, there is $0.3 million gain related to these co-products for both the three and six months ended June 30, 2024. There is $0.1 million loss and $0.3 million gain, respectively, in the Realized gain - embedded derivative, net, related to the co-products for the three and six months ended June 30, 2023.

Inventories, net (Tables)

Inventories, net (Tables)	6 Months Ended
	Jun. 30, 2024
Inventories, net
Summary of Inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Stockpiles - underground mine ​ $ 941 ​ $ 534 Concentrates ​ ​ 1,494 ​ ​ 1,768 Doré, net ​ ​ 169 ​ ​ 169 Subtotal - product inventories ​ ​ 2,604 ​ ​ 2,471 Materials and supplies (1) ​ ​ 6,375 ​ ​ 6,823 Total ​ $ 8,979 ​ $ 9,294 ​ (1) Net of reserve for obsolescence of $0.5 million as of both June 30, 2024 and December 31, 2023.

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Prepaid Expenses And Other Current Assets
Schedule of prepaid expenses and other current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Advances to suppliers ​ $ 80 ​ $ 266 Prepaid insurance ​ ​ 2,333 ​ ​ 1,103 Prepaid income tax ​ ​ 4,229 ​ ​ 4,589 Other current assets ​ ​ 1,061 ​ ​ 654 Total ​ $ 7,703 ​ $ 6,612

Property, Plant, and Mine Dev_2

Property, Plant, and Mine Development, net (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant, and Mine Development, net
Schedule of property, plant and mine development, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Asset retirement costs (“ARO asset”) ​ $ 6,227 ​ $ 6,227 Construction-in-progress ​ ​ 865 ​ ​ 243 Furniture and office equipment ​ ​ 1,791 ​ ​ 1,781 Land ​ ​ 9,033 ​ ​ 9,033 Mineral interest ​ ​ 79,543 ​ ​ 79,543 Light vehicles and other mobile equipment ​ ​ 2,118 ​ ​ 2,126 Machinery and equipment ​ ​ 43,106 ​ ​ 42,887 Mill facilities and infrastructure ​ ​ 36,395 ​ ​ 36,396 Mine development ​ ​ 118,676 ​ ​ 115,230 Software and licenses ​ ​ 1,554 ​ ​ 1,554 Subtotal ​ ​ 299,308 ​ ​ 295,020 Accumulated depreciation and amortization ​ ​ (167,517) ​ ​ (156,394) Total ​ $ 131,791 ​ $ 138,626

Other Non-current Assets (Table

Other Non-current Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Other Non-current Assets
Schedule of other non-current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Investment in Maritime ​ $ 1,718 ​ $ 1,596 Investment in Green Light Metals ​ ​ 2,239 ​ ​ 3,698 Other non-current assets ​ ​ 112 ​ ​ 170 Total ​ $ 4,069 ​ $ 5,464

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Accrued Expenses and Other Liabilities
Schedule of accrued expenses and other liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Accrued royalty payments ​ $ 715 ​ $ 726 Share-based compensation liability - current ​ ​ 102 ​ ​ 67 Employee profit sharing obligation ​ ​ 6 ​ ​ 67 Other payables ​ ​ 727 ​ ​ 888 Total accrued expenses and other current liabilities ​ $ 1,550 ​ $ 1,748 ​ ​ ​ ​ ​ ​ ​ Accrued non-current labor obligation ​ $ 1,537 ​ $ 1,167 Share-based compensation liability ​ ​ 383 ​ ​ 320 Other long-term liabilities ​ ​ 7 ​ ​ 29 Total other non-current liabilities ​ $ 1,927 ​ $ 1,516 ​

Gold and Silver Stream Agreem_2

Gold and Silver Stream Agreements (Tables)	6 Months Ended
	Jun. 30, 2024
Gold and Silver Stream Agreements
Schedule of liabilities related to the deferred revenues	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ June 30, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Liability related to the Gold Stream Agreement ​ $ 23,329 ​ $ 21,002 Liability related to the Silver Stream Agreement ​ ​ 26,699 ​ ​ 23,930 Total liability ​ $ 50,028 ​ $ 44,932

Reclamation and Remediation (Ta

Reclamation and Remediation (Tables)	6 Months Ended
	Jun. 30, 2024
Reclamation and Remediation
Schedule of changes in reclamation and remediation obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Reclamation liabilities – balance at beginning of period ​ $ 2,233 ​ $ 1,949 Foreign currency exchange loss ​ ​ (180) ​ ​ 284 Reclamation liabilities – balance at end of period ​ ​ 2,053 ​ ​ 2,233 ​ ​ ​ ​ ​ ​ ​ Asset retirement obligation – balance at beginning of period (1) ​ ​ 9,562 ​ ​ 8,417 Changes in estimate (1) ​ ​ - ​ ​ (1,221) Liability for Aquila drillhole capping ​ ​ - ​ ​ 404 Accretion ​ ​ 361 ​ ​ 689 Foreign currency exchange loss ​ ​ (764) ​ ​ 1,273 Asset retirement obligation – balance at end of period ​ ​ 9,159 ​ ​ 9,562 Total period end balance ​ $ 11,212 ​ $ 11,795 ​ (1) In 2023, the Company updated its closure plan study, which resulted in a $1.2 million decrease in the estimated liability and asset retirement costs.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies.
Schedule of change in the balance of the contingent consideration	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Beginning Balance of contingent consideration: ​ ​ ​ ​ ​ ​ Current contingent consideration ​ $ - ​ $ 2,211 Non-current contingent consideration ​ ​ 3,548 ​ ​ 2,179 ​ ​ $ 3,548 ​ $ 4,390 ​ ​ ​ ​ ​ ​ ​ Change in value ​ $ - ​ $ (2,211) Change in value ​ ​ (156) ​ ​ 1,369 ​ ​ ​ ​ ​ ​ ​ Ending Balance of contingent consideration: ​ ​ ​ ​ ​ ​ Current contingent consideration ​ $ - ​ $ - Non-current contingent consideration ​ ​ 3,392 ​ ​ 3,548 ​ ​ $ 3,392 ​ $ 3,548

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2024
Derivatives
Summary of unsettled sales contracts	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ ​ Total ​ ​ (ounces) ​ (ounces) ​ (tonnes) ​ (tonnes) ​ (tonnes) ​ ​ ​ Under contract ​ ​ 1,866 ​ ​ 223,427 ​ ​ 103 ​ ​ 918 ​ ​ 1,847 ​ ​ ​ Average forward price (per ounce or tonne) ​ $ 2,321 ​ $ 28.68 ​ $ 9,838 ​ $ 2,114 ​ $ 2,791 ​ ​ ​ Unsettled sales contracts value (in thousands) ​ $ 4,331 ​ $ 6,408 ​ $ 1,013 ​ $ 1,941 ​ $ 5,155 ​ $ 18,848

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Stock-Based Compensation
Schedule of Stock-based compensation expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ ​ (in thousands) ​ (in thousands) Stock options ​ $ - ​ $ 120 ​ $ 22 ​ $ 240 Restricted stock units ​ ​ 151 ​ ​ 174 ​ ​ 257 ​ ​ 327 Performance stock units ​ ​ 94 ​ ​ 1 ​ ​ 128 ​ ​ (32) Deferred stock units ​ ​ (20) ​ ​ (288) ​ ​ 37 ​ ​ 69 Total ​ $ 225 ​ $ 7 ​ $ 444 ​ $ 604
Schedule of Share-based Compensation, Stock Options, Activity	​ ​ ​ ​ ​ ​ ​ ​ ​ Stock Options ​ Weighted Average Exercise Price (per share) Outstanding as of December 31, 2022 ​ 1,475,316 ​ $ 2.90 Expired or Forfeited ​ (10,000) ​ ​ 6.24 Outstanding as of June 30, 2023 ​ 1,465,316 ​ $ 2.88 ​ ​ ​ ​ ​ ​ Outstanding as of December 31, 2023 ​ 840,612 ​ $ 2.99 Grant / Exercise / Forfeiture ​ - ​ ​ - Outstanding as of June 30, 2024 ​ 840,612 ​ $ 2.99 ​ ​ ​ ​ ​ ​ Vested and exercisable as of June 30, 2024 ​ 840,612 ​ $ 2.99
Schedule of RSU activity under the Incentive Plan	​ ​ ​ ​ ​ ​ ​ ​ ​ Restricted Stock Units ​ Aggregate Intrinsic Value (in thousands) Nonvested as of December 31, 2022 ​ 575,548 ​ $ 881 Granted ​ 779,192 ​ ​ ​ Vested but not redeemed (deferred) ​ (106,955) ​ ​ ​ Vested and redeemed ​ (70,433) ​ ​ ​ Vested and forfeited for net settlement ​ (18,137) ​ ​ ​ Forfeited ​ (74,084) ​ ​ ​ Nonvested as of June 30, 2023 ​ 1,085,131 ​ $ 684 ​ ​ ​ ​ ​ ​ Nonvested as of December 31, 2023 ​ 847,255 ​ $ 319 Granted ​ 832,091 ​ ​ ​ Granted in lieu of bonus ​ 637,929 ​ ​ ​ Vested but not redeemed (deferred) ​ (134,257) ​ ​ ​ Vested and redeemed ​ (119,997) ​ ​ ​ Vested and forfeited for net settlement ​ (76,994) ​ ​ ​ Forfeited ​ (50,435) ​ ​ ​ Nonvested as of June 30, 2024 ​ 1,935,592 ​ $ 716
Schedule of PSU activity under the Incentive Plan	​ ​ ​ ​ ​ ​ ​ ​ ​ Performance Share Units ​ ​ Liability Balance (in thousands) Outstanding as of December 31, 2022 ​ 695,041 ​ $ 332 Granted ​ 534,890 ​ ​ ​ Forfeited ​ (98,483) ​ ​ ​ Outstanding as of June 30, 2023 ​ 1,131,448 ​ $ 301 ​ ​ ​ ​ ​ ​ Outstanding as of December 31, 2023 ​ 880,926 ​ $ 164 Granted ​ 682,367 ​ ​ ​ Forfeited ​ (33,113) ​ ​ ​ Redeemed ​ (201,258) ​ ​ ​ Outstanding as of June 30, 2024 ​ 1,328,922 ​ $ 225
Schedule of DSU activity under the Incentive Plan	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred Stock Units ​ ​ Liability Balance (in thousands) Outstanding as of December 31, 2022 ​ 360,699 ​ $ 552 Granted ​ 278,663 ​ ​ ​ Granted in lieu of board fees ​ 31,301 ​ ​ ​ Granted in lieu of executive bonus ​ 212,407 ​ ​ ​ Redeemed ​ (323,900) ​ ​ ​ Outstanding as of June 30, 2023 ​ 559,170 ​ $ 352 ​ ​ ​ ​ ​ ​ Outstanding as of December 31, 2023 ​ 586,291 ​ $ 223 Granted in lieu of board fees ​ 116,472 ​ ​ ​ Outstanding as of June 30, 2024 ​ 702,763 ​ $ 260 ​

Other Expense, Net (Tables)

Other Expense, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Other Expense, net
Schedule of other expense, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the six months ended June 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 ​ ​ (in thousands) ​ (in thousands) Unrealized currency exchange loss (gain) (1) ​ $ 1,385 ​ $ (114) ​ $ 1,331 ​ $ 339 Realized currency exchange (gain) loss ​ ​ (260) ​ ​ 133 ​ ​ (157) ​ ​ 309 Realized and unrealized (gain) loss from gold and silver rounds, net ​ ​ (8) ​ ​ 6 ​ ​ (16) ​ ​ (3) Loss on disposal of fixed assets ​ ​ - ​ ​ 12 ​ ​ - ​ ​ 12 Interest on streaming liabilities ​ ​ 3,687 ​ ​ 275 ​ ​ 5,096 ​ ​ 549 Severance ​ ​ 317 ​ ​ 267 ​ ​ 676 ​ ​ 877 Other expense ​ ​ 1,233 ​ ​ 132 ​ ​ 939 ​ ​ 97 Total ​ $ 6,354 ​ $ 711 ​ $ 7,869 ​ $ 2,180 ​ (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. For additional information regarding the Company’s fair value measurements and investments, please see Note 19—Fair Value Measurement in Item 1—Condensed Consolidated Interim Financial Statements and Notes (unaudited) for additional information .

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	6 Months Ended
	Jun. 30, 2024
Net Loss per Common Share
Schedule of basic and diluted net income per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended ​ For the six months ended ​ ​ June 30, ​ June 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss (in thousands) ​ $ (27,734) ​ $ (4,584) ​ $ (31,755) ​ $ (5,619) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares of common stock outstanding ​ ​ 91,004,348 ​ ​ 88,468,542 ​ ​ 89,855,890 ​ ​ 88,437,413 Dilutive effect of share-based awards ​ ​ - ​ ​ - ​ ​ - ​ ​ - Basic and diluted weighted average common shares outstanding ​ ​ 91,004,348 ​ ​ 88,468,542 ​ ​ 89,855,890 ​ ​ 88,437,413 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted net loss per common share ​ $ (0.30) ​ $ (0.05) ​ $ (0.35) ​ $ (0.06) ​

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Measurement
Summary of assets and liabilities measured at fair value by level within fair value hierarchy	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ ​ June 30, ​ December 31, ​ Input Hierarchy Level ​ ​ 2024 ​ 2023 ​ ​ ​ ​ (in thousands) ​ ​ Cash and cash equivalents ​ $ 5,342 ​ $ 6,254 ​ Level 1 Accounts receivable, net ​ $ 4,577 ​ $ 4,335 ​ Level 2 Investment in equity securities-Maritime ​ $ 1,718 ​ $ 1,596 ​ Level 1 Investment in equity securities-Green Light Metals ​ $ 2,239 ​ $ 3,698 ​ Level 3
Summary of realized and unrealized gain losses on derivatives	The following tables summarize the Company’s realized/unrealized derivatives for the periods presented (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ Total For the three months ended June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized gain ​ $ 358 ​ $ 312 ​ $ 115 ​ $ 37 ​ $ 144 ​ $ 966 Unrealized (loss) gain ​ ​ (148) ​ ​ 52 ​ ​ (45) ​ ​ 15 ​ ​ 241 ​ ​ 115 Total realized/unrealized derivatives, net ​ $ 210 ​ $ 364 ​ $ 70 ​ $ 52 ​ $ 385 ​ $ 1,081 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ Total For the three months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized gain (loss) ​ $ 127 ​ $ 196 ​ $ (8) ​ $ 54 ​ $ (121) ​ $ 248 Unrealized (loss) gain ​ ​ (44) ​ ​ (34) ​ ​ (46) ​ ​ 93 ​ ​ (674) ​ ​ (705) Total realized/unrealized derivatives, net ​ $ 83 ​ $ 162 ​ $ (54) ​ $ 147 ​ $ (795) ​ $ (457) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ Total For the six months ended June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized gain (loss) ​ $ 386 ​ $ 285 ​ $ 127 ​ $ (7) ​ $ 198 ​ $ 989 Unrealized (loss) gain ​ ​ (36) ​ ​ 132 ​ ​ (47) ​ ​ 74 ​ ​ 35 ​ ​ 158 Total realized/unrealized derivatives, net ​ $ 350 ​ $ 417 ​ $ 80 ​ $ 67 ​ $ 233 ​ $ 1,147 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gold ​ Silver ​ Copper ​ Lead ​ Zinc ​ Total For the six months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Realized gain ​ $ 241 ​ $ 345 ​ $ 46 ​ $ 148 ​ $ 102 ​ $ 882 Unrealized loss ​ ​ (81) ​ ​ (305) ​ ​ (56) ​ ​ (10) ​ ​ (974) ​ ​ (1,426) Total realized/unrealized derivatives, net ​ $ 160 ​ $ 40 ​ $ (10) ​ $ 138 ​ $ (872) ​ $ (544) ​

Supplementary Cash Flow Infor_2

Supplementary Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2024
Supplementary Cash Flow Information
Schedule of other operating adjustments and write-downs in cash flow statement	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Unrealized gain on gold and silver rounds ​ $ (16) ​ $ (4) Unrealized foreign currency exchange loss ​ ​ 1,331 ​ ​ 339 Unrealized loss on investments ​ ​ 1,168 ​ ​ 179 Other ​ ​ 358 ​ ​ 102 Total other operating adjustments, net ​ $ 2,841 ​ $ 616 ​

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting
Schedule of Condensed Consolidated Interim Balance Sheets relating to the Company's segments	The following table shows selected information from the Condensed Consolidated Interim Balance Sheets relating to the Company’s segments (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaxaca, Mexico ​ Michigan, USA ​ Corporate and Other ​ Consolidated As of June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets ​ $ 25,403 ​ $ 70 ​ $ 1,128 ​ $ 26,601 Total non-current assets (1) ​ ​ 42,281 ​ ​ 91,772 ​ ​ 2,076 ​ ​ 136,129 Total assets ​ $ 67,684 ​ $ 91,842 ​ $ 3,204 ​ $ 162,730 Total current liabilities ​ $ 11,213 ​ $ 22 ​ $ 1,032 ​ $ 12,267 Total non-current liabilities ​ ​ 14,678 ​ ​ 68,312 ​ ​ 452 ​ ​ 83,442 Total shareholders’ equity ​ ​ 41,793 ​ ​ 23,508 ​ ​ 1,720 ​ ​ 67,021 Total liabilities and shareholders’ equity ​ $ 67,684 ​ $ 91,842 ​ $ 3,204 ​ $ 162,730 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 (1) As of June 30, 2024, the total non-current assets included capital investments of $4.3 million in Oaxaca, Mexico, nil in Michigan, USA, and nil in Corporate and Other. As of December 31, 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.
Schedule of Condensed Consolidated Interim Statements of Operations of Company's segments	The following table shows selected information from the Condensed Consolidated Interim Statements of Operations relating to the Company’s segments (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaxaca, Mexico ​ Michigan, USA ​ Corporate and Other ​ Consolidated For the three months ended June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, net ​ $ 20,782 ​ $ - ​ $ - ​ $ 20,782 Total mine cost of sales, including depreciation ​ ​ 24,339 ​ ​ 27 ​ ​ 8 ​ ​ 24,374 Exploration expense ​ ​ 184 ​ ​ 142 ​ ​ - ​ ​ 326 Total other costs and expenses, including G&A ​ ​ 1,315 ​ ​ 4,860 ​ ​ 1,185 ​ ​ 7,360 Income tax provision (benefit) ​ ​ 15,986 ​ ​ 734 ​ ​ (264) ​ ​ 16,456 Net loss ​ $ (21,042) ​ $ (5,763) ​ $ (929) ​ $ (27,734) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaxaca, Mexico ​ Michigan, USA ​ Corporate and Other ​ Consolidated For the three months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, net ​ $ 24,807 ​ $ - ​ $ - ​ $ 24,807 Total mine cost of sales, including depreciation ​ ​ 26,376 ​ ​ 28 ​ ​ 572 ​ ​ 26,976 Exploration expense ​ ​ 1,045 ​ ​ 395 ​ ​ - ​ ​ 1,440 Total other costs and expenses, including G&A ​ ​ 72 ​ ​ (30) ​ ​ 2,806 ​ ​ 2,848 Income tax benefit ​ ​ (1,612) ​ ​ (215) ​ ​ (46) ​ ​ (1,873) Net loss ​ $ (1,074) ​ $ (178) ​ $ (3,332) ​ $ (4,584) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oaxaca, Mexico ​ Michigan, USA ​ Corporate and Other ​ Consolidated For the six months ended June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, net ​ $ 39,484 ​ ​ - ​ ​ - ​ $ 39,484 Total mine cost of sales, including depreciation ​ ​ 45,174 ​ ​ 55 ​ ​ 16 ​ ​ 45,245 Exploration expense ​ ​ 1,083 ​ ​ 347 ​ ​ - ​ ​ 1,430 Total other costs and expenses, including G&A ​ ​ 1,615 ​ ​ 6,398 ​ ​ 1,982 ​ ​ 9,995 Income tax provision (benefit) ​ ​ 14,183 ​ ​ 580 ​ ​ (194) ​ ​ 14,569 Net loss ​ $ (22,571) ​ $ (7,380) ​ $ (1,804) ​ $ (31,755) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales, net ​ $ 56,035 ​ $ - ​ $ - ​ $ 56,035 Total mine cost of sales, including depreciation ​ ​ 53,036 ​ ​ 42 ​ ​ 1,197 ​ ​ 54,275 Exploration expense ​ ​ 2,434 ​ ​ 845 ​ ​ - ​ ​ 3,279 Total other costs and expenses, including G&A ​ ​ 703 ​ ​ 214 ​ ​ 5,190 ​ ​ 6,107 Income tax benefit ​ ​ (1,562) ​ ​ (437) ​ ​ (8) ​ ​ (2,007) Net income (loss) ​ $ 1,424 ​ $ (664) ​ $ (6,379) ​ $ (5,619)

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Realized gain (loss) - embedded derivative, net	$ 966	$ 248	$ 989	$ 882
Unrealized gain (loss) - embedded derivative, net	115	(705)	158	(1,426)
Total sales, net	20,782	24,807	39,484	56,035
Dore
Disaggregation of Revenue [Line Items]
Less: Treatment and refining charges		(17)	(6)	(42)
Total concentrate sales, net		558	19	2,327
Gold Dore
Disaggregation of Revenue [Line Items]
Total concentrate sales, net		543	24	2,268
Silver Dore
Disaggregation of Revenue [Line Items]
Total concentrate sales, net		32	1	101
Concentrate
Disaggregation of Revenue [Line Items]
Less: Treatment and refining charges	(1,439)	(3,311)	(3,016)	(6,470)
Total concentrate sales, net	19,701	24,706	38,318	54,252
Gold Concentrate
Disaggregation of Revenue [Line Items]
Total concentrate sales, net	6,358	7,949	13,757	18,571
Silver Concentrate
Disaggregation of Revenue [Line Items]
Total concentrate sales, net	6,840	6,609	11,908	13,182
Copper Concentrate
Disaggregation of Revenue [Line Items]
Total concentrate sales, net	1,941	2,749	4,182	5,743
Lead Concentrate
Disaggregation of Revenue [Line Items]
Total concentrate sales, net	1,060	2,782	2,424	5,747
Zinc Concentrate
Disaggregation of Revenue [Line Items]
Total concentrate sales, net	4,941	7,928	9,063	17,479
Co-products
Disaggregation of Revenue [Line Items]
Realized gain (loss) - embedded derivative, net	$ 300	$ (100)	$ 300	$ 300

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Stockpiles - underground mine	$ 941	$ 534
Concentrates	1,494	1,768
Dore, net	169	169
Subtotal - product inventories	2,604	2,471
Materials and supplies	6,375	6,823
Total	8,979	9,294
Materials and supplies
Inventory reserve	$ 500	$ 500

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) $ in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Oct. 31, 2023 USD ($)	Oct. 31, 2023 MXN ($)
Income Taxes [Line Items]
Income tax provisions (benefit)	$ 16,456	$ (1,873)	$ 14,569	$ (2,007)
Withholding tax on dividends			10%
Dividend withholding tax between countries			5%
Liability for uncertain tax positions					$ 0	$ 0
Effective tax rate			21%
CANADA
Income Taxes [Line Items]
Canada income tax rate	26.50%		26.50%
Mexico
Income Taxes [Line Items]
MITL corporate income tax rate	37.50%		37.50%
MITL royalty tax on mining concessions	7.50%		7.50%
Royalty fee as percent of gross revenue			0.50%
Amortization rate			10%
MITL corporate income tax rate excluding mining tax			30%
Mining tax rate			7.50%
Valuation allowance	$ 12,800		$ 12,800
Amortization period			10 years
Mexican Tax Administration Services | Tax Year 2015
Income Taxes [Line Items]
Possible sanction							$ 18,000	$ 331

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) $ in Thousands, $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 MXN ($)
Prepaid Expenses And Other Current Assets [Line Items]
Advances to suppliers	$ 80		$ 266
Prepaid insurance	2,333		1,103
Prepaid income tax	4,229		4,589
Other current assets	1,061		654
Total	7,703		6,612
Income taxes paid	1,072	$ 6,068
Expected income tax payments	0
IVA taxes receivable, net	$ 600		400
Don David Gold Mine
Prepaid Expenses And Other Current Assets [Line Items]
Income taxes paid			$ 4,000	$ 76

Property, Plant, and Mine Dev_3

Property, Plant, and Mine Development, net - Summary of Property, Plant, and Mine Development (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, equipment and mine development - net
Property and equipment, gross	$ 299,308	$ 295,020
Accumulated depreciation and amortization	(167,517)	(156,394)
Total property, equipment and mine development - net	131,791	138,626
Asset retirement costs ("ARO asset")
Property, equipment and mine development - net
Property and equipment, gross	6,227	6,227
Construction-in-progress
Property, equipment and mine development - net
Property and equipment, gross	865	243
Furniture and office equipment
Property, equipment and mine development - net
Property and equipment, gross	1,791	1,781
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	2,118	2,126
Machinery and equipment
Property, equipment and mine development - net
Property and equipment, gross	43,106	42,887
Mill facilities and infrastructure
Property, equipment and mine development - net
Property and equipment, gross	36,395	36,396
Mine Development
Property, equipment and mine development - net
Property and equipment, gross	118,676	115,230
Software and licenses
Property, equipment and mine development - net
Property and equipment, gross	$ 1,554	$ 1,554

Property, Plant, and Mine Dev_4

Property, Plant, and Mine Development, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant, and Mine Development, net
Depreciation and amortization expense	$ 5.8	$ 6.5	$ 10	$ 13.7

Other Non-current Assets (Detai

Other Non-current Assets (Details) $ in Thousands, $ in Millions	Jun. 30, 2024 USD ($)	Jun. 30, 2024 CAD ($)	Dec. 31, 2023 USD ($)
Other Non-current Assets
Other non-current assets	$ 112		$ 170
Total	4,069		5,464
Investment in Maritime
Other Non-current Assets
Equity Investment	1,718		1,596
Investment in Green Light Metals
Other Non-current Assets
Equity Investment	$ 2,200	$ 3.1	$ 3,698

Other Non-current Assets - Narr

Other Non-current Assets - Narrative (Details) $ in Thousands, $ in Millions	Dec. 28, 2022 shares	Sep. 22, 2022 USD ($) shares	Jun. 30, 2024 USD ($)	Jun. 30, 2024 CAD ($)	Dec. 31, 2023 USD ($)	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
Investment in Maritime
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 | $			$ 1,718		$ 1,596
Investment in Green Light Metals
Other Non-current Assets
Fair Value of Investment			2,200	$ 3.1	3,698
Ownership percentage	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 | $			$ 2,200		$ 3,700
Ownership percentage			28.50%	28.50%

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accrued Expenses and Other Liabilities
Accrued royalty payments	$ 715	$ 726
Share-based compensation liability - current	102	67
Employee profit sharing obligation	6	67
Other payables	727	888
Total accrued expenses and other current liabilities	1,550	1,748
Other Liabilities, Noncurrent [Abstract]
Accrued non-current labor obligation	1,537	1,167
Share-based compensation liability	383	320
Other long-term liabilities	7	29
Total other non-current liabilities	$ 1,927	$ 1,516

Gold and Silver Stream Agreem_3

Gold and Silver Stream Agreements - Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deferred revenue	$ 50,028	$ 44,932
Gold Stream Agreement
Deferred revenue	23,329	21,002
Silver Stream Agreement
Deferred revenue	$ 26,699	$ 23,930

Gold and Silver Stream Agreem_4

Gold and Silver Stream Agreements - Narrative (Details)	1 Months Ended	6 Months Ended
	Jun. 30, 2020 USD ($) oz	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Nov. 30, 2017 USD ($)
Discount rate (as a percent)		6%
Deferred revenue		$ 50,028,000	$ 44,932,000
Gold Stream Agreement
Discount rate (as a percent)		6%
Deferred revenue		$ 23,329,000	21,002,000
Gold Stream 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%
Production Threshold | oz	105,000
Trail stream (as a percent)	9.25%
Spot price of gold (as a percent)	30%
Maximum amount receivable on gold per ounce	$ 600
Gold Stream Agreement | Gold Resources Acquisition Company | Aquila Resources Inc. | Gold
Ownership percentage	100%
Silver Stream Agreement
Discount rate (as a percent)		6%
Deferred revenue		$ 26,699,000	$ 23,930,000
Silver Stream 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
Deferred revenue		$ 17,200,000
Commodity produced (as a percent)	85%
Threshold price of silver at which deposit received is adjusted	$ 4

Reclamation and Remediation - C

Reclamation and Remediation - Changes (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Asset Retirement Obligation, Roll Forward Analysis
Reclamation liabilities - balance at beginning of period	$ 2,233	$ 1,949
Foreign currency exchange loss	(180)	284
Reclamation liabilities - balance at end of period	2,053	2,233
Asset retirement obligation - balance at beginning of period	9,562	8,417
Changes in estimate		(1,221)
Liability for Aquila drillhole capping		404
Accretion	361	689
Foreign currency exchange loss	(764)	1,273
Asset retirement obligation - balance at end of period	9,159	9,562
Total period end balance	$ 11,212	$ 11,795

Reclamation and Remediation - N

Reclamation and Remediation - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Jun. 30, 2024	Dec. 31, 2022
Decrease in estimated liability	$ 1,200
Asset retirement obligation	9,562	$ 9,159	$ 8,417
Reclamation and remediation liabilities	11,795	11,212
Reclamation liabilities	2,233	$ 2,053	$ 1,949
Reclamation and remediation discount rate		8%
Don David Gold Mine
Asset retirement obligation	9,600	$ 9,200
Reclamation liabilities	$ 2,200	$ 2,100

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) $ in Thousands, $ in Millions	Dec. 30, 2013 CAD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 USD ($)	Dec. 10, 2021 USD ($)
Leases [Line Items]
Equipment purchase commitments		$ 900	$ 800
Contingent consideration		3,392	3,548		$ 4,390
Contingent consideration		3,392	3,548		2,179
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 OBL | 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		$ 3,400	$ 3,500
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	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Commitments and Contingencies.
Beginning Balance of continent consideration: Current contingent consideration		$ 2,211
Beginning Balance of continent consideration: Non-current contingent consideration	$ 3,548	2,179
Beginning Balance of continent consideration: Total contingent consideration	3,548	4,390
Change in value of contingent consideration - Current		(2,211)
Change in value of contingent consideration - Non-current	(156)	1,369
Ending Balance of continent consideration: Non-current contingent consideration	3,392	3,548
Ending Balance of continent consideration: Total contingent consideration	$ 3,392	$ 3,548

Shareholders' Equity (Details)

Shareholders' Equity (Details) - ATM Agreement - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Sale Price of Common Stock Renewed			$ 14.9
Common stock sold	3,478,813	0	3,478,813	0
Net proceeds	$ 1.8		$ 1.8
Commissions and other expenses			$ 0.1

Derivatives (Details)

Derivatives (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) $ / t $ / oz oz t
Embedded Derivative [Line Items]
Unsettled sales contracts value	$ 18,848
Gold
Embedded Derivative [Line Items]
Under contract | oz	1,866
Average forward price | $ / oz	2,321
Unsettled sales contracts value	$ 4,331
Silver
Embedded Derivative [Line Items]
Under contract | oz	223,427
Average forward price | $ / oz	28.68
Unsettled sales contracts value	$ 6,408
Copper
Embedded Derivative [Line Items]
Under contract | t	103
Average forward price | $ / t	9,838
Unsettled sales contracts value	$ 1,013
Lead
Embedded Derivative [Line Items]
Under contract | t	918
Average forward price | $ / t	2,114
Unsettled sales contracts value	$ 1,941
Zinc
Embedded Derivative [Line Items]
Under contract | t	1,847
Average forward price | $ / t	2,791
Unsettled sales contracts value	$ 5,155

Employee Benefits (Details)

Employee Benefits (Details)		6 Months Ended
	Apr. 23, 2021	Jun. 30, 2024
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 ($) $ in Thousands, shares in Millions	Jun. 30, 2024	Dec. 31, 2023
Additionally number of shares granted	5
Accrued liabilities	$ 1,550	$ 1,748
STIP
Accrued liabilities	$ 300

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stock-based compensation expense	$ 225	$ 7	$ 444	$ 604
Employee Stock Option [Member]
Stock-based compensation expense		120	22	240
Restricted stock units
Stock-based compensation expense	151	174	257	327
Performance stock units
Stock-based compensation expense	94	1	128	(32)
Deferred stock units
Stock-based compensation expense	$ (20)	$ (288)	$ 37	$ 69

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity under Incentive Plan (Details) - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, Beginning Balance (in shares)	840,612	1,475,316
Expired or Forfeited (in shares)		(10,000)
Grant / Exercise / Forfeiture (in shares)	0
Outstanding, Ending Balance (in shares)	840,612	1,465,316
Vested and exercisable (in shares)	840,612
Weighted Average Exercise Price
Outstanding Weighted Average Exercise Price, Beginning Balance	$ 2.99	$ 2.90
Weighted Average Exercise Price, Grant / Exercise / Forfeiture	0
Weighted Average Exercise Price, Expired or Forfeited		6.24
Outstanding Weighted Average Exercise Price, Ending Balance	2.99	$ 2.88
Weighted Average Exercise Price, Vested and exercisable as of end of period	$ 2.99

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of RSU activity under Incentive Plan (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Shares
Nonvested, Beginning Balance (in shares)	847,255	575,548
Granted (in shares)	832,091	779,192
Granted in lieu of bonus	637,929
Vested but not redeemed (deferred) (in shares)	(134,257)	(106,955)
Vested and redeemed (in shares)	(119,997)	(70,433)
Vested and forfeited for net settlement (in shares)	(76,994)	(18,137)
Forfeited (in shares)	(50,435)	(74,084)
Nonvested, Ending Balance (in shares)	1,935,592	1,085,131
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding	$ 716	$ 684	$ 319	$ 881

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of PSU activity under the Incentive Plan (Details) - Performance Shares [Member] - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Shares
Nonvested, Beginning Balance (in shares)	880,926	695,041
Granted (in shares)	682,367	534,890
Forfeited (in shares)	(33,113)	(98,483)
Redeemed (in shares)	(201,258)
Nonvested, Ending Balance (in shares)	1,328,922	1,131,448
Liability Balance
Liability Balance	$ 225	$ 301	$ 164	$ 332

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of DSU activity under the Incentive Plan (Details) - Deferred Stock Units [Member] - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, Beginning Balance (in shares)	586,291	360,699
Granted (in shares)		278,663
Granted in lieu of board fees (in shares)	116,472	31,301
Granted in lieu of executive bonus (in shares)		212,407
Redeemed (in shares)		(323,900)
Nonvested, Ending Balance (in shares)	702,763	559,170
Liability Balance
Liability Balance	$ 260	$ 352	$ 223	$ 552

Other Expense, Net (Details)

Other Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Expense, net
Unrealized currency exchange loss (gain)	$ 1,385	$ (114)	$ 1,331	$ 339
Realized currency exchange (gain) loss	(260)	133	(157)	309
Realized and unrealized (gain) loss from gold and silver rounds, net	(8)	6	(16)	(3)
Loss on disposal of fixed assets		12		12
Interest on streaming liabilities	3,687	275	5,096	549
Severance	317	267	676	877
Other (income)	1,233	132	939	97
Total	$ 6,354	$ 711	$ 7,869	$ 2,180

Net Loss per Common Share - Nar

Net Loss per Common Share - Narrative (Details) - $ / shares shares in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
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	$ 2.88

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	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net Loss per Common Share
Net loss	$ (27,734)	$ (4,584)	$ (31,755)	$ (5,619)
Basic weighted average common shares outstanding	91,004,348	88,468,542	89,855,890	88,437,413
Diluted weighted average common shares outstanding	91,004,348	88,468,542	89,855,890	88,437,413
Basic net loss per common share:
Basic net loss per common share	$ (0.30)	$ (0.05)	$ (0.35)	$ (0.06)
Diluted net loss per common share:
Diluted net loss per common share	$ (0.30)	$ (0.05)	$ (0.35)	$ (0.06)

Fair Value Measurement (Details

Fair Value Measurement (Details) $ / shares in Units, $ in Thousands, $ in Millions				6 Months Ended	12 Months Ended
	Dec. 28, 2022 shares	Sep. 22, 2022 USD ($) shares	Sep. 22, 2022 CAD ($) shares	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2024 CAD ($) $ / shares	Dec. 31, 2023 $ / shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized loss				$ 1,500
Maritime Resources Corp
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized and unrealized derivative gain (loss), net				200
Green Light Metals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized loss				1,300
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				1,718	$ 1,596
Share price | $ / shares						$ 0.050	$ 0.045
Green Light Metals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ownership percentage	28.50%
Number of shares received in conversion of promissory note | shares	12,250,000
Equity Investment				2,200	3,698	$ 3.1
Share price | $ / shares						$ 0.25
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				400	300
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents				5,342	6,254
Investment in equity securities				1,718	1,596
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts receivable, net				4,577	4,335
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in equity securities				$ 2,239	$ 3,698

Fair Value Measurement - Statem

Fair Value Measurement - Statement Of Income Classification (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Sales, net
Fair Value Statement Of Income Classification [Line Items]
Realized and unrealized derivative gain (loss), net	$ 1,081	$ (457)	$ 1,147	$ (544)

Fair Value Measurement - Realiz

Fair Value Measurement - Realized Unrealized Derivatives, net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivatives, Fair Value [Line Items]
Realized gain (loss)	$ 966	$ 248	$ 989	$ 882
Unrealized gain (loss)	115	(705)	158	(1,426)
Total realized/unrealized derivatives, net	1,081	(457)	1,147	(544)
Gold
Derivatives, Fair Value [Line Items]
Realized gain (loss)	358	127	386	241
Unrealized gain (loss)	(148)	(44)	(36)	(81)
Total realized/unrealized derivatives, net	210	83	350	160
Silver
Derivatives, Fair Value [Line Items]
Realized gain (loss)	312	196	285	345
Unrealized gain (loss)	52	(34)	132	(305)
Total realized/unrealized derivatives, net	364	162	417	40
Copper
Derivatives, Fair Value [Line Items]
Realized gain (loss)	115	(8)	127	46
Unrealized gain (loss)	(45)	(46)	(47)	(56)
Total realized/unrealized derivatives, net	70	(54)	80	(10)
Lead
Derivatives, Fair Value [Line Items]
Realized gain (loss)	37	54	(7)	148
Unrealized gain (loss)	15	93	74	(10)
Total realized/unrealized derivatives, net	52	147	67	138
Zinc
Derivatives, Fair Value [Line Items]
Realized gain (loss)	144	(121)	198	102
Unrealized gain (loss)	241	(674)	35	(974)
Total realized/unrealized derivatives, net	$ 385	$ (795)	$ 233	$ (872)

Supplementary Cash Flow Infor_3

Supplementary Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Supplementary Cash Flow Information
Unrealized (gain) loss on gold and silver rounds			$ (16)	$ (4)
Unrealized foreign currency exchange (gain) loss	$ 1,385	$ (114)	1,331	339
Unrealized loss on equity investments			1,168	179
Other			358	102
Total other operating adjustments, net			$ 2,841	$ 616

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Number of geographic regions | segment			3
Balance sheet information
Total current assets	$ 26,601		$ 26,601			$ 26,495
Total non-current assets	136,129		136,129			157,391
Total assets	162,730		162,730			183,886
Total current liabilities	12,267		12,267			11,325
Total non-current liabilities	83,442		83,442			75,868
Total shareholders' equity	67,021	$ 106,701	67,021	$ 106,701	$ 92,775	96,693	$ 110,991	$ 111,764
Total liabilities and shareholders' equity	162,730		162,730			183,886
Income statement information
Sales, net	20,782	24,807	39,484	56,035
Total mine cost of sales, including depreciation	24,374	26,976	45,245	54,275
Exploration expense	326	1,440	1,430	3,279
Total other costs and expenses, including G&A	7,360	2,848	9,995	6,107
Income tax provision (benefit)	16,456	(1,873)	14,569	(2,007)
Net income (loss)	(27,734)	(4,584)	(31,755)	(5,619)
Oaxaca, Mexico
Income statement information
Exploration expense	184	1,045	1,083	2,434
Michigan, USA
Income statement information
Exploration expense	142	395	347	845
Operating Segments | Oaxaca, Mexico
Balance sheet information
Total current assets	25,403		25,403			25,155
Total non-current assets	42,281		42,281			62,368
Total assets	67,684		67,684			87,523
Total current liabilities	11,213		11,213			10,029
Total non-current liabilities	14,678		14,678			12,559
Total shareholders' equity	41,793		41,793			64,935
Total liabilities and shareholders' equity	67,684		67,684			87,523
Capital investments	4,300		4,300			11,000
Income statement information
Sales, net	20,782	24,807	39,484	56,035
Total mine cost of sales, including depreciation	24,339	26,376	45,174	53,036
Exploration expense	184	1,045	1,083	2,434
Total other costs and expenses, including G&A	1,315	72	1,615	703
Income tax provision (benefit)	15,986	(1,612)	14,183	(1,562)
Net income (loss)	(21,042)	(1,074)	(22,571)	1,424
Operating Segments | Michigan, USA
Balance sheet information
Total current assets	70		70			116
Total non-current assets	91,772		91,772			93,287
Total assets	91,842		91,842			93,403
Total current liabilities	22		22			59
Total non-current liabilities	68,312		68,312			62,792
Total shareholders' equity	23,508		23,508			30,552
Total liabilities and shareholders' equity	91,842		91,842			93,403
Capital investments	0		0			400
Income statement information
Total mine cost of sales, including depreciation	27	28	55	42
Exploration expense	142	395	347	845
Total other costs and expenses, including G&A	4,860	(30)	6,398	214
Income tax provision (benefit)	734	(215)	580	(437)
Net income (loss)	(5,763)	(178)	(7,380)	(664)
Corporate and Other
Balance sheet information
Total current assets	1,128		1,128			1,224
Total non-current assets	2,076		2,076			1,736
Total assets	3,204		3,204			2,960
Total current liabilities	1,032		1,032			1,237
Total non-current liabilities	452		452			517
Total shareholders' equity	1,720		1,720			1,206
Total liabilities and shareholders' equity	3,204		3,204			2,960
Capital investments	0		0			$ 0
Income statement information
Total mine cost of sales, including depreciation	8	572	16	1,197
Total other costs and expenses, including G&A	1,185	2,806	1,982	5,190
Income tax provision (benefit)	(264)	(46)	(194)	(8)
Net income (loss)	$ (929)	$ (3,332)	$ (1,804)	$ (6,379)

Subsequent Events (Details)

Subsequent Events (Details) - ATM Agreement - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Subsequent Events
Common stock sold	3,478,813	0	3,478,813	0
Agreement for net proceeds	$ 1.8		$ 1.8