Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Oct. 28, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000788965 | |
Entity Registrant Name | HALLADOR ENERGY CO | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-34743 | |
Entity Incorporation, State or Country Code | CO | |
Entity Tax Identification Number | 84-1014610 | |
Entity Address, Address Line One | 1183 East Canvasback Drive | |
Entity Address, City or Town | Terre Haute | |
Entity Address, State or Province | IN | |
Entity Address, Postal Zip Code | 47802 | |
City Area Code | 812 | |
Local Phone Number | 299.2800 | |
Title of 12(b) Security | Common Shares, $.01 par value | |
Trading Symbol | HNRG | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 30,465,665 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 5,302 | $ 8,799 |
Restricted cash (Note 12) | 4,243 | 4,512 |
Certificates of deposit | 0 | 245 |
Accounts receivable | 15,846 | 25,580 |
Prepaid income taxes | 0 | 1,562 |
Inventory (Note 3) | 36,803 | 28,297 |
Parts and supplies, net of allowance of $274 | 9,172 | 11,775 |
Prepaid expenses | 4,771 | 1,678 |
Total current assets | 76,137 | 82,448 |
Property, plant and equipment, at cost: | ||
Land and mineral rights | 115,894 | 114,722 |
Buildings and equipment | 357,498 | 351,614 |
Mine development | 89,229 | 84,160 |
Total property, plant and equipment, at cost | 562,621 | 550,496 |
Less - accumulated depreciation, depletion and amortization | (250,134) | (220,780) |
Total property, plant and equipment, net | 312,487 | 329,716 |
Investment in Sunrise Energy (Note 15) | 3,293 | 3,139 |
Other long-term assets (Note 4) | 8,290 | 10,324 |
Total Assets | 400,207 | 425,627 |
Current liabilities: | ||
Current portion of bank debt, net (Note 5) | 34,311 | 33,044 |
Current portion of PPP note (Note 5) | 2,160 | 0 |
Accounts payable and accrued liabilities (Note 6) | 33,526 | 31,800 |
Total current liabilities | 69,997 | 64,844 |
Long-term liabilities: | ||
Bank debt, net (Note 5) | 105,885 | 140,594 |
PPP note (Note 5) | 7,840 | 0 |
Deferred income taxes | 2,228 | 4,884 |
Asset retirement obligations | 16,476 | 15,694 |
Other | 4,061 | 4,081 |
Total long-term liabilities | 136,490 | 165,253 |
Total liabilities | 206,487 | 230,097 |
Redeemable noncontrolling interests (Note 2) | 4,000 | 4,000 |
Stockholders' equity: | ||
Preferred stock, $.10 par value, 10,000 shares authorized; none issued and outstanding | 0 | 0 |
Common stock, $.01 par value, 100,000 shares authorized; 30,466 and 30,420 issued and outstanding, respectively | 305 | 304 |
Additional paid-in capital | 103,123 | 102,215 |
Retained earnings | 86,292 | 89,011 |
Total stockholders’ equity | 189,720 | 191,530 |
Total liabilities, redeemable noncontrolling interests, and stockholders’ equity | $ 400,207 | $ 425,627 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Parts and supplies, allowance | $ 274 | $ 274 |
Preferred stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Preferred stock, shares authorized (in shares) | 10,000 | 10,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 100,000 | 100,000 |
Common stock, shares issued (in shares) | 30,466 | 30,420 |
Common stock, shares outstanding (in shares) | 30,466 | 30,420 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||
REVENUE: | |||||
Coal sales | $ 64,754 | $ 82,883 | $ 177,159 | $ 239,231 | |
Other operating income (Note 8) | 374 | 213 | 2,588 | 5,488 | |
Total revenue | 65,128 | 83,096 | 179,747 | 244,719 | |
COSTS AND EXPENSES: | |||||
Operating costs and expenses | 46,570 | 71,363 | 131,204 | 187,783 | |
Depreciation, depletion and amortization | 9,315 | 11,778 | 30,159 | 35,612 | |
Asset retirement obligations accretion | 348 | 320 | 1,024 | 943 | |
Exploration costs | 174 | 347 | 635 | 835 | |
Selling, general and administrative | 3,131 | 2,926 | 8,787 | 9,385 | |
Interest (1) | [1] | 2,329 | 3,558 | 10,877 | 13,546 |
Asset impairment | 1,799 | 0 | 1,799 | 0 | |
Total costs and expenses | 63,666 | 90,292 | 184,485 | 248,104 | |
INCOME (LOSS) BEFORE INCOME TAXES | 1,462 | (7,196) | (4,738) | (3,385) | |
Current | (74) | (426) | (598) | (577) | |
Deferred | (387) | (3,047) | (2,657) | (2,741) | |
Total income tax benefit | (461) | (3,473) | (3,255) | (3,318) | |
NET INCOME (LOSS) | $ 1,923 | $ (3,723) | $ (1,483) | $ (67) | |
INCOME (LOSS) PER SHARE (NOTE 13): | |||||
Basic and diluted (in dollars per share) | $ 0.06 | $ (0.12) | $ (0.05) | $ 0 | |
WEIGHTED AVERAGE SHARES OUTSTANDING | |||||
Basic and diluted (in shares) | 30,465 | 30,249 | 30,436 | 30,246 | |
(1) Bank interest | $ 2,709 | $ 2,801 | $ 8,201 | $ 8,746 | |
Change in fair value of interest rate swaps valuation | (995) | 162 | 981 | 3,018 | |
Amortization of debt issuance costs | 610 | 543 | 1,686 | 1,628 | |
Other | 5 | 52 | 9 | 154 | |
Total non-cash interest | (380) | 757 | 2,676 | 4,800 | |
Total interest | [1] | $ 2,329 | $ 3,558 | $ 10,877 | $ 13,546 |
[1] | Bank interest |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
OPERATING ACTIVITIES: | ||||||
Net loss | $ 1,923 | $ (3,723) | $ (1,483) | $ (67) | ||
Deferred income taxes | (387) | (3,047) | (2,657) | (2,741) | ||
Equity (income) loss – Sunrise Energy | 119 | 184 | (1,167) | 350 | ||
Cash distribution - Sunrise Energy | 1,125 | 0 | ||||
Depreciation, depletion and amortization | 9,315 | 11,778 | 30,159 | 35,612 | ||
Asset impairment | 1,799 | 0 | 1,799 | 0 | ||
Loss (gain) on sale of assets | 38 | (99) | ||||
Unrealized gain on marketable securities | (14) | (334) | ||||
Gain on sale of royalty interests in oil properties | 0 | (2,949) | ||||
Amortization and write off of debt issuance costs | 610 | 543 | 1,686 | 1,628 | ||
Asset retirement obligations accretion | 348 | 320 | 1,024 | 943 | ||
Stock-based compensation | 927 | 1,438 | ||||
Change in current assets and liabilities: | ||||||
Accounts receivable | 9,742 | (3,294) | ||||
Inventory | (9,247) | (6,455) | ||||
Parts and supplies | 2,603 | (2,396) | ||||
Prepaid income taxes | 1,562 | 992 | ||||
Prepaid expenses | 1,744 | 3,800 | ||||
Accounts payable and accrued liabilities | (5,488) | 6,877 | ||||
Cash provided by operating activities | 34,109 | 36,323 | ||||
INVESTING ACTIVITIES: | ||||||
Investment in Sunrise Energy | (113) | 0 | ||||
Capital expenditures | (13,991) | (27,269) | ||||
Proceeds from sale of equipment | 56 | 129 | ||||
Proceeds from sale of royalty interests in oil properties | 0 | 2,949 | ||||
Proceeds from sale of marketable securities | 2,310 | 0 | ||||
Maturities of certificates of deposit | 245 | 245 | ||||
Cash used in investing activities | (11,493) | (23,946) | ||||
FINANCING ACTIVITIES: | ||||||
Payments on bank debt | (40,475) | (34,713) | ||||
Borrowings of bank debt | 7,250 | 18,250 | ||||
Proceeds from PPP note | 10,000 | 0 | ||||
Payments of debt issuance costs | (1,903) | (1,183) | ||||
Taxes paid on vesting of restricted stock units | (18) | (14) | ||||
Dividends paid | (1,236) | (3,724) | ||||
Cash used in financing activities | (26,382) | (21,384) | ||||
Decrease in cash, cash equivalents, and restricted cash | (3,766) | (9,007) | ||||
Cash, cash equivalents, and restricted cash, beginning of period | $ 11,087 | 13,311 | 20,094 | $ 20,094 | ||
Cash, cash equivalents, and restricted cash, end of period | 9,545 | 13,311 | 11,087 | 9,545 | 11,087 | 13,311 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH CONSIST OF THE FOLLOWING: | ||||||
Cash and cash equivalents | 5,302 | 8,799 | 6,361 | 5,302 | 6,361 | 8,799 |
Restricted cash | 4,243 | $ 4,512 | 4,726 | 4,243 | 4,726 | $ 4,512 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance | $ 9,545 | $ 11,087 | 9,545 | 11,087 | ||
SUPPLEMENTAL CASH FLOW INFORMATION: | ||||||
Cash paid for interest | 8,246 | 8,900 | ||||
SUPPLEMENTAL NON-CASH FLOW INFORMATION: | ||||||
Capital expenditures included in accounts payable and prepaid expense | 968 | 2,018 | ||||
Right-of-use assets acquired in exchange for operating lease liabilities | 645 | 882 | ||||
Interest Rate Swap [Member] | ||||||
OPERATING ACTIVITIES: | ||||||
Change in fair value of derivative | 981 | 3,018 | ||||
Fuel Hedge [Member] | ||||||
OPERATING ACTIVITIES: | ||||||
Change in fair value of derivative | $ 775 | $ 0 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 30,245 | |||
Balance at Dec. 31, 2018 | $ 302 | $ 100,742 | $ 153,830 | $ 254,874 |
Stock-based compensation | $ 0 | 1,438 | 0 | 1,438 |
Stock issued on vesting of RSUs (in shares) | 7 | |||
Stock issued on vesting of RSUs | $ 0 | 0 | 0 | 0 |
Taxes paid on vesting of RSUs (in shares) | (3) | |||
Taxes paid on vesting of RSUs | $ 0 | (14) | 0 | (14) |
Dividends | 0 | 0 | (3,724) | (3,724) |
Net loss | $ 0 | 0 | (67) | (67) |
Balance (in shares) at Sep. 30, 2019 | 30,249 | |||
Balance at Sep. 30, 2019 | $ 302 | 102,166 | 150,039 | 252,507 |
Balance (in shares) at Jun. 30, 2019 | 30,247 | |||
Balance at Jun. 30, 2019 | $ 302 | 101,747 | 155,003 | 257,052 |
Stock-based compensation | $ 0 | 426 | 0 | 426 |
Stock issued on vesting of RSUs (in shares) | 3 | |||
Stock issued on vesting of RSUs | $ 0 | 0 | 0 | 0 |
Taxes paid on vesting of RSUs (in shares) | (1) | |||
Taxes paid on vesting of RSUs | $ 0 | (7) | 0 | (7) |
Dividends | 0 | 0 | (1,241) | (1,241) |
Net loss | $ 0 | 0 | (3,723) | (3,723) |
Balance (in shares) at Sep. 30, 2019 | 30,249 | |||
Balance at Sep. 30, 2019 | $ 302 | 102,166 | 150,039 | 252,507 |
Balance (in shares) at Dec. 31, 2019 | 30,420 | |||
Balance at Dec. 31, 2019 | $ 304 | 102,215 | 89,011 | 191,530 |
Stock-based compensation | $ 0 | 927 | 0 | 927 |
Stock issued on vesting of RSUs (in shares) | 72 | |||
Stock issued on vesting of RSUs | $ 1 | (1) | 0 | 0 |
Taxes paid on vesting of RSUs (in shares) | (26) | |||
Taxes paid on vesting of RSUs | $ 0 | (18) | 0 | (18) |
Dividends | 0 | 0 | (1,236) | (1,236) |
Net loss | $ 0 | 0 | (1,483) | (1,483) |
Balance (in shares) at Sep. 30, 2020 | 30,466 | |||
Balance at Sep. 30, 2020 | $ 305 | 103,123 | 86,292 | 189,720 |
Balance (in shares) at Jun. 30, 2020 | 30,465 | |||
Balance at Jun. 30, 2020 | $ 305 | 102,833 | 84,369 | 187,507 |
Stock-based compensation | $ 0 | 291 | 0 | 291 |
Stock issued on vesting of RSUs (in shares) | 2 | |||
Stock issued on vesting of RSUs | $ 0 | 0 | 0 | 0 |
Taxes paid on vesting of RSUs (in shares) | (1) | |||
Taxes paid on vesting of RSUs | $ 0 | (1) | 0 | (1) |
Dividends | 0 | 0 | 0 | 0 |
Net loss | $ 0 | 0 | 1,923 | 1,923 |
Balance (in shares) at Sep. 30, 2020 | 30,466 | |||
Balance at Sep. 30, 2020 | $ 305 | $ 103,123 | $ 86,292 | $ 189,720 |
Note 1 - General Business
Note 1 - General Business | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | ( 1 GENERAL BUSINESS The interim financial data is unaudited; however, in our opinion, it includes all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the results for the interim periods. The condensed consolidated financial statements included herein have been prepared pursuant to the SEC’s rules and regulations; accordingly, certain information and footnote disclosures normally included in GAAP financial statements have been condensed or omitted. The results of operations and cash flows for the three nine September 30, 2020 not December 31, 2020 2019 2020 no Our organization and business, the accounting policies we follow, and other information are contained in the notes to our consolidated financial statements filed as part of our 2019 10 10 The condensed consolidated financial statements include the accounts of Hallador Energy Company (hereinafter known as “we, us, or our”) and its wholly-owned subsidiaries Sunrise Coal, LLC (Sunrise) and Hourglass Sands, LLC (Hourglass), and Sunrise’s wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Sunrise is engaged in the production of steam coal from mines located in western Indiana. New Accounting Standards Issued and Adopted In August 2018, 2018 13, 820 2018 13 December 15, 2019. 2018 13 January 1, 2020. 2018 13 not Subsequent Events We have evaluated all subsequent events through the date the financial statements were issued. No |
Note 2 - Long-lived Asset Impai
Note 2 - Long-lived Asset Impairments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Asset Impairment Charges [Text Block] | ( 2 LONG-LIVED ASSET IMPAIRMENTS Long-lived assets are reviewed for impairment whenever events or changes in circumstance indicate that the carrying amount of the assets may not 19 September 30, 2020 no 19 Carlisle Mine We recorded an impairment of $65.7 million as of December 31, 2019 Q4 2019 $1.8 September 30, 2020 December 31, 2019 Subsequent to year-end during late Q1 2020 Q1 2020 Q1 Q2 2020 Bulldog Reserves As a result of the Carlisle Mine impairment, we determined that an impairment of the Bulldog Reserves was also necessary. With the closure of the Carlisle Mine, it became apparent that the likelihood of construction and opening of Bulldog was reduced. Based on our review, we recorded an impairment of $9.2 million as of December 31, 2019 Hourglass Sands We recorded an impairment of $2.9 million as of December 31, 2019 December 31, 2019 August 2020 September 30, 2020, |
Note 3 - Inventory
Note 3 - Inventory | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | ( 3 INVENTORY Inventory is valued at lower of average cost or net realizable value (NRV). As of September 30, 2020 December 31, 2019 |
Note 4 - Other Long-term Assets
Note 4 - Other Long-term Assets | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | ( 4 OTHER LONG-TERM ASSETS (in thousands) September 30, December 31, 2020 2019 Advanced coal royalties $ 6,453 $ 6,105 Marketable equity securities available for sale, at fair value (restricted)* — 2,296 Other 1,837 1,923 Total other assets $ 8,290 $ 10,324 * Held by Sunrise Indemnity, Inc., our wholly-owned captive insurance company. |
Note 5 - Long-term Debt
Note 5 - Long-term Debt | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | ( 5 LONG-TERM DEBT On April 15, 2020, 2020 2.0X. In the first nine 2020 September 30, 2020 September 30, 2020 September 30, 2020 March 2023. September 2023. Liquidity As of September 30, 2020 Fees Unamortized bank fees and other costs incurred in connection with the initial facility and subsequent amendments totaled $7.9 million as of our amendment in April 2020. September 30, 2020 December 31, 2019 April 15 Bank debt, less debt issuance costs, is presented below (in thousands): September 30, December 31, 2020 2019 Current bank debt $ 36,750 $ 34,912 Less unamortized debt issuance costs (2,439 ) (1,868 ) Net current portion $ 34,311 $ 33,044 Long-term bank debt $ 110,175 $ 145,238 Less unamortized debt issuance costs (4,290 ) (4,644 ) Net long-term portion $ 105,885 $ 140,594 Total bank debt $ 146,925 $ 180,150 Less total unamortized debt issuance costs (6,729 ) (6,512 ) Net bank debt $ 140,196 $ 173,638 Covenants The credit facility includes a Maximum Leverage Ratio (consolidated funded debt/trailing twelve twelve not Fiscal Periods Ending Ratio September 30, 2020 and December 31, 2020 3.50 to 1.00 March 31, 2021 and June 30, 2021 3.25 to 1.00 September 30, 2021 and December 31, 2021 3.00 to 1.00 March 31, 2022 and each fiscal quarter thereafter 2.50 to 1.00 As of September 30, 2020 The credit facility also requires a Minimum Debt Service Coverage Ratio (consolidated adjusted EBITDA / annual debt service) calculated as of the end of each fiscal quarter for the trailing twelve 1.00 December 31, 2021, 1.00 As of September 30, 2020 Interest Rate The interest rate on the facility ranges from LIBOR plus 2.75% to LIBOR plus 4.00%, depending on our Leverage Ratio, with a LIBOR floor of 0.50%. We entered into swap agreements to fix the LIBOR component of the interest rate at 2.92% on the declining term loan balance and on $53 million of the revolver. At September 30, 2020 Paycheck Protection Program On April 16, 2020, The annual interest rate on the PPP Note is 1.00%. six 2021. may Under the terms of the CARES Act, PPP loan recipients can apply for and be granted forgiveness for all or a portion of the loan granted under the PPP. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds for payment of payroll costs and any covered payments of mortgage interest, rent, and utilities. In the event the PPP Loan, or any portion thereof, is forgiven pursuant to the PPP, the amount forgiven is applied to outstanding principal. The Company used all proceeds from the PPP Loan to maintain payroll and utility payments. At September 30, 2020 1A.Risk 10 |
Note 6 - Accounts Payable and A
Note 6 - Accounts Payable and Accrued Liabilities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ( 6 ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (in thousands) September 30, December 31, 2020 2019 Accounts payable $ 14,223 $ 16,115 Accrued property taxes 2,898 2,835 Accrued payroll 3,030 2,151 Workers' compensation reserve 3,824 3,446 Group health insurance 1,800 2,500 Fair value of interest rate swaps 3,021 1,714 Other 4,730 3,039 Total accounts payable and accrued liabilities $ 33,526 $ 31,800 |
Note 7 - Revenue
Note 7 - Revenue | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 7 REVENUE Revenue from Contracts with Customers We account for a contract with a customer when the parties have approved the contract and are committed to performing their respective obligations, the rights of each party are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. We recognize revenue when we satisfy a performance obligation by transferring control of a good or service to a customer. Our revenue is derived from sales to customers of coal produced at our facilities. Our customers typically purchase coal directly from our mine sites or our Princeton Loop, where the sale occurs and where title, risk of loss, and control pass to the customer at that point. Our customers arrange for and bear the costs of transporting their coal from our mines to their plants or other specified discharge points. Nearly all our customers are domestic utility companies. Our coal sales agreements with our customers are fixed-priced, or include price re-openers, fixed-volume supply contracts. Price re-opener and index provisions may Coal sales agreements will typically contain coal quality specifications, including BTUs, ash, moisture, and sulfur content among other qualities. Price adjustments are made and billed in the month the coal sale was recognized based on quality standards that are specified in the coal sales agreement and can result in either increases or decreases in the value of the coal shipped. Disaggregation of Revenue Revenue is disaggregated by primary geographic markets, as we believe this best depicts how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors. 75% of our coal revenue for the three nine September 30, 2020 three nine September 30, 2019 Performance Obligations A performance obligation is a promise in a contract with a customer to provide distinct goods or services. Performance obligations are the unit of account for purposes of applying the revenue recognition standard and therefore determine when and how revenue is recognized. In most of our contracts, the customer contracts with us to provide coal that meets certain quality criteria. We consider each ton of coal a separate performance obligation and allocate the transaction price based on the base price per the contract, increased or decreased for quality adjustments. We recognize revenue at a point in time, as the customer does not We have remaining performance obligations relating to fixed priced contracts of approximately $494 million, which represent the average fixed prices on our committed contracts as of September 30, 2020 2021, We have remaining performance obligations relating to contracts with price reopeners of approximately $237 million, which represents our estimate of the expected re-opener price on committed contracts as of September 30, 2020 2022 2027. The tons used to determine the remaining performance obligations are subject to adjustment in instances of force majeure and exercise of customer options to either take additional tons or reduce tonnage if such option exists in the customer contract. Contract Balances Under ASC 606, not not not September 30, 2020 |
Note 8 - Other Operating Income
Note 8 - Other Operating Income | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Other Operating Income and Expense [Text Block] | ( 8 OTHER OPERATING INCOME (in thousands) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Equity income (loss) - Sunrise Energy $ (119 ) $ (184 ) $ 1,167 $ (350 ) Government imposition reimbursements 100 150 300 450 Gain on sale of royalty interests in oil properties — — 2,949 Coal storage 127 — 211 — Miscellaneous 266 247 910 2,439 $ 374 $ 213 $ 2,588 $ 5,488 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 9 INCOME TAXES For the three nine September 30, 2020 not 19. three nine September 30, 2020 2019 ~ 69 ~ 98 not On March 27, 2020, 19 80% 2018, 2019, 2020, 50% 30% January 1, 2019 2020 2020 2017. |
Note 10 - Stock Compensation Pl
Note 10 - Stock Compensation Plans | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | ( 10 STOCK COMPENSATION PLANS Non-vested grants at December 31, 2019 488,500 Granted – average weighted share price on grant date was $ 0.90 40,000 Vested – average weighted share price on vesting date was $ 0.68 (72,000 ) Forfeited (9,500 ) Non-vested grants at September 30, 2020 447,000 For the three nine September 30, 2020 three nine September 30, 2019 Non-vested RSU grants will vest as follows: Vesting Year RSUs Vesting 2020 106,250 2021 306,750 2022 24,000 2023 10,000 447,000 The outstanding RSUs have a value of $0.3 million based on the September 30, 2020, At September 30, 2020 |
Note 11 - Leases
Note 11 - Leases | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | ( 11 LEASES We have operating leases for office space and processing facilities with remaining lease terms ranging from less than one five not not Information related to leases was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease information: Operating cash outflows from operating leases $ 50 $ 77 $ 184 $ 234 Weighted average remaining lease term in years 3.43 4.11 3.43 4.11 Weighted average discount rate 6.0 % 6.0 % 6.0 % 6.0 % Future minimum lease payments under non-cancellable leases as of September 30, 2020 Year Amount (In thousands) 2020 $ 50 2021 203 2022 206 2023 174 2024 60 Total minimum lease payments $ 693 Less imputed interest (48 ) Total operating lease liabilities $ 645 As reflected on balance sheet: Other long-term liabilities $ 645 At September 30, 2020 December 31, 2019 |
Note 12 - Self-insurance
Note 12 - Self-insurance | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Self Insurance [Text Block] | ( 12 SELF-INSURANCE We self-insure our underground mining equipment. Such equipment is allocated among seven mining units dispersed over ten miles. The historical cost of such equipment was approximately $273 million as of September 30, 2020 December 31, 2019 Restricted cash of $4.2 million and $4.5 million as of September 30, 2020 December 31, 2019 third |
Note 13 - Income (Loss) Per Sha
Note 13 - Income (Loss) Per Share | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 13 INCOME (LOSS) PER SHARE We compute income (loss) per share using the two The following table sets forth the computation of net income (loss) allocated to common shareholders (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator: Net income (loss) $ 1,923 $ (3,723 ) $ (1,483 ) $ (67 ) Less loss (income) allocated to RSUs (28 ) 93 23 — Net income (loss) allocated to common shareholders $ 1,895 $ (3,630 ) $ (1,460 ) $ (67 ) |
Note 14 - Fair Value Measuremen
Note 14 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | ( 14 FAIR VALUE MEASUREMENTS We account for certain assets and liabilities at fair value. The hierarchy below lists three one three Level 1: 1 Level 2: not no 2 Level 3: no 3 September 30, 2020 May 2022. $1.79/gallon $2.00/gallon December 2021. third not 2. The following table summarizes our financial assets and liabilities measured on a recurring basis at fair value at September 30, 2020 December 31, 2019 Level 1 Level 2 Level 3 Total December 31, 2019 Assets: Fuel hedge $ — $ — $ 25 $ 25 Marketable securities - restricted 2,296 — — 2,296 $ 2,296 $ — $ 25 $ 2,321 Liabilities: Interest rate swaps $ — $ — $ 3,825 $ 3,825 September 30, 2020 Liabilities: Fuel hedge — — 750 750 Interest rate swaps — — 4,806 4,806 $ — $ — $ 5,556 $ 5,556 The table below highlights the change in fair value of the fuel hedges and interest rate swaps which are based on a discounted future cash flow model (in thousands): Ending balance, December 31, 2019* $ (3,800 ) Change in estimated fair value (1,756 ) Ending balance, September 30, 2020* $ (5,556 ) *Recorded in accounts payable and accrued liabilities and other liabilities in the Condensed Consolidated Balance Sheets. |
Note 15 - Equity Method Investm
Note 15 - Equity Method Investments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | ( 15 EQUITY METHOD INVESTMENTS We own a 50% interest in Sunrise Energy, LLC, which owns gas reserves and gathering equipment with plans to develop and operate such reserves. Sunrise Energy also plans to develop and explore for oil, gas, and coal-bed methane gas reserves on or near our underground coal reserves. The carrying value of the investment included in our condensed consolidated balance sheets as of September 30, 2020 December 31, 2019 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Standards Issued and Adopted In August 2018, 2018 13, 820 2018 13 December 15, 2019. 2018 13 January 1, 2020. 2018 13 not |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events We have evaluated all subsequent events through the date the financial statements were issued. No |
Note 4 - Other Long-term Asse_2
Note 4 - Other Long-term Assets (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Other Assets, Noncurrent [Table Text Block] | September 30, December 31, 2020 2019 Advanced coal royalties $ 6,453 $ 6,105 Marketable equity securities available for sale, at fair value (restricted)* — 2,296 Other 1,837 1,923 Total other assets $ 8,290 $ 10,324 |
Note 5 - Long-term Debt (Tables
Note 5 - Long-term Debt (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | September 30, December 31, 2020 2019 Current bank debt $ 36,750 $ 34,912 Less unamortized debt issuance costs (2,439 ) (1,868 ) Net current portion $ 34,311 $ 33,044 Long-term bank debt $ 110,175 $ 145,238 Less unamortized debt issuance costs (4,290 ) (4,644 ) Net long-term portion $ 105,885 $ 140,594 Total bank debt $ 146,925 $ 180,150 Less total unamortized debt issuance costs (6,729 ) (6,512 ) Net bank debt $ 140,196 $ 173,638 |
Schedule of Line of Credit Facilities [Table Text Block] | Fiscal Periods Ending Ratio September 30, 2020 and December 31, 2020 3.50 to 1.00 March 31, 2021 and June 30, 2021 3.25 to 1.00 September 30, 2021 and December 31, 2021 3.00 to 1.00 March 31, 2022 and each fiscal quarter thereafter 2.50 to 1.00 |
Note 6 - Accounts Payable and_2
Note 6 - Accounts Payable and Accrued Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | September 30, December 31, 2020 2019 Accounts payable $ 14,223 $ 16,115 Accrued property taxes 2,898 2,835 Accrued payroll 3,030 2,151 Workers' compensation reserve 3,824 3,446 Group health insurance 1,800 2,500 Fair value of interest rate swaps 3,021 1,714 Other 4,730 3,039 Total accounts payable and accrued liabilities $ 33,526 $ 31,800 |
Note 8 - Other Operating Inco_2
Note 8 - Other Operating Income (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Other Operating Income (Expense) [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Equity income (loss) - Sunrise Energy $ (119 ) $ (184 ) $ 1,167 $ (350 ) Government imposition reimbursements 100 150 300 450 Gain on sale of royalty interests in oil properties — — 2,949 Coal storage 127 — 211 — Miscellaneous 266 247 910 2,439 $ 374 $ 213 $ 2,588 $ 5,488 |
Note 10 - Stock Compensation _2
Note 10 - Stock Compensation Plans (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Non-vested grants at December 31, 2019 488,500 Granted – average weighted share price on grant date was $ 0.90 40,000 Vested – average weighted share price on vesting date was $ 0.68 (72,000 ) Forfeited (9,500 ) Non-vested grants at September 30, 2020 447,000 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Vesting Year RSUs Vesting 2020 106,250 2021 306,750 2022 24,000 2023 10,000 447,000 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease information: Operating cash outflows from operating leases $ 50 $ 77 $ 184 $ 234 Weighted average remaining lease term in years 3.43 4.11 3.43 4.11 Weighted average discount rate 6.0 % 6.0 % 6.0 % 6.0 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Amount (In thousands) 2020 $ 50 2021 203 2022 206 2023 174 2024 60 Total minimum lease payments $ 693 Less imputed interest (48 ) Total operating lease liabilities $ 645 As reflected on balance sheet: Other long-term liabilities $ 645 |
Note 13 - Income (Loss) Per S_2
Note 13 - Income (Loss) Per Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator: Net income (loss) $ 1,923 $ (3,723 ) $ (1,483 ) $ (67 ) Less loss (income) allocated to RSUs (28 ) 93 23 — Net income (loss) allocated to common shareholders $ 1,895 $ (3,630 ) $ (1,460 ) $ (67 ) |
Note 14 - Fair Value Measurem_2
Note 14 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Level 1 Level 2 Level 3 Total December 31, 2019 Assets: Fuel hedge $ — $ — $ 25 $ 25 Marketable securities - restricted 2,296 — — 2,296 $ 2,296 $ — $ 25 $ 2,321 Liabilities: Interest rate swaps $ — $ — $ 3,825 $ 3,825 September 30, 2020 Liabilities: Fuel hedge — — 750 750 Interest rate swaps — — 4,806 4,806 $ — $ — $ 5,556 $ 5,556 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Ending balance, December 31, 2019* $ (3,800 ) Change in estimated fair value (1,756 ) Ending balance, September 30, 2020* $ (5,556 ) |
Note 2 - Long-lived Asset Imp_2
Note 2 - Long-lived Asset Impairments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Asset Impairment Charges, Total | $ 1,799 | $ 0 | $ 1,799 | $ 0 | ||||
Carlisle Mine [Member] | ||||||||
Asset Impairment Charges, Total | $ 0 | $ 65,700 | ||||||
Mineral Properties, Net, Total | 1,800 | 1,800 | 1,800 | $ 1,800 | ||||
Equipment, Redeployed | 23,000 | |||||||
Carlisle Mine [Member] | Closing of Mine [Member] | ||||||||
Restructuring and Related Costs, Incurred Cost, Total | $ 1,100 | $ 1,100 | ||||||
Bulldog Reserves [Member] | ||||||||
Asset Impairment Charges, Total | $ 9,200 | |||||||
Hourglass Sands [Member] | ||||||||
Asset Impairment Charges, Total | 1,800 | $ 2,900 | ||||||
Mineral Properties, Net, Total | $ 1,900 | $ 1,900 |
Note 3 - Inventory (Details Tex
Note 3 - Inventory (Details Textual) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Inventory Adjustments, Total | $ 0.5 | $ 2 |
Note 4 - Other Long-term Asse_3
Note 4 - Other Long-term Assets - Other Long-term Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Advanced coal royalties | $ 6,453 | $ 6,105 | |
Marketable equity securities available for sale, at fair value (restricted)* | [1] | 0 | 2,296 |
Other | 1,837 | 1,923 | |
Total other assets | $ 8,290 | $ 10,324 | |
[1] | Held by Sunrise Indemnity, Inc., our wholly-owned captive insurance company. |
Note 5 - Long-term Debt (Detail
Note 5 - Long-term Debt (Details Textual) $ in Thousands | Apr. 16, 2020USD ($) | Apr. 15, 2020USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Apr. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Long-term Debt, Gross | $ 146,925 | $ 180,150 | ||||
Debt Issuance Costs, Net, Total | $ 6,729 | 6,512 | ||||
Leverage Ratio | 2.46 | |||||
Debt Service Coverage Ratio | 1.44 | |||||
Proceeds from Notes Payable, Total | $ 10,000 | $ 0 | ||||
Interest Rate Swap [Member] | ||||||
Derivative, Fixed Interest Rate | 2.92% | |||||
Derivative, Variable Interest Rate | 6.42% | |||||
Derivative, Amount of Hedged Item | $ 130,000 | |||||
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||||||
Debt Instrument, Interest Rate, Effective Percentage Unhedged Amount | 4.00% | |||||
London Interbank Offered Rate (LIBOR) Swap Rate [Member] | Interest Rate Swap [Member] | ||||||
Derivative, Basis Spread on Variable Rate | 3.50% | |||||
Credit Agreement [Member] | ||||||
Debt Instrument, Covenant, Maximum Annual Capital Expenditures | $ 30,000 | |||||
Debt Instrument, Covenant, Maximum Leverage Ratio for Dividends | 2 | |||||
Debt Instrument, Increase (Decrease), Net, Total | $ (33,000) | |||||
Long-term Debt, Gross | 147,000 | |||||
Debt Instrument, Unused Borrowing Capacity, Amount | 47,400 | |||||
Debt Instrument, Liquidity | 52,700 | |||||
Debt Issuance Costs, Net, Total | $ 1,900 | 6,700 | $ 7,900 | $ 6,500 | ||
Debt Instrument, Unhedged Portion | $ 17,000 | |||||
Credit Agreement [Member] | Interest Rate Swap [Member] | ||||||
Derivative, Fixed Interest Rate | 2.92% | |||||
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Variable Rate Floor | 0.50% | |||||
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | |||||
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 4.00% | |||||
Credit Agreement [Member] | Through December 31, 2021 [Member] | ||||||
Debt Instrument, Covenant, Minimum Debt Service Coverage Ratio | 1.05 | |||||
Credit Agreement [Member] | After December 31, 2021 [Member] | ||||||
Debt Instrument, Covenant, Minimum Debt Service Coverage Ratio | 1.25 | |||||
Credit Agreement [Member] | Term Loan [Member] | ||||||
Long-term Debt, Gross | $ 77,000 | |||||
Credit Agreement [Member] | Revolving Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | 120,000 | |||||
Long-term Line of Credit, Total | 70,000 | |||||
Credit Agreement [Member] | Revolving Credit Facility [Member] | Interest Rate Swap [Member] | ||||||
Derivative, Notional Amount | 53,000 | |||||
Paycheck Protection Program CARES Act [Member] | ||||||
Proceeds from Notes Payable, Total | $ 10,000 | |||||
Notes Payable, Total | $ 10,000 |
Note 5 - Long-term Debt - Bank
Note 5 - Long-term Debt - Bank Debt, Less Debt Issuance Costs (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Current bank debt | $ 36,750 | $ 34,912 |
Less unamortized debt issuance costs | (2,439) | (1,868) |
Net current portion | 34,311 | 33,044 |
Long-term bank debt | 110,175 | 145,238 |
Less unamortized debt issuance costs | (4,290) | (4,644) |
Net long-term portion | 105,885 | 140,594 |
Total bank debt | 146,925 | 180,150 |
Less total unamortized debt issuance costs | (6,729) | (6,512) |
Net bank debt | $ 140,196 | $ 173,638 |
Note 5 - Long-term Debt - Maxim
Note 5 - Long-term Debt - Maximum Leverage Ratio (Details) - Credit Agreement [Member] | Sep. 30, 2020 |
Periods Ended September 30, 2020 ad December 31, 2020 [Member] | |
Maximum Leverage Ratio | 3.50 |
Periods Ended March 31, 2021 and June 30, 2021 [Member] | |
Maximum Leverage Ratio | 3.25 |
Periods Ended September 30, 2021 and December 31, 2021 [Member] | |
Maximum Leverage Ratio | 3 |
Period Ended March 31, 2022 and Thereafter [Member] | |
Maximum Leverage Ratio | 2.50 |
Note 6 - Accounts Payable and_3
Note 6 - Accounts Payable and Accrued Liabilities - Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Accounts payable | $ 14,223 | $ 16,115 |
Accrued property taxes | 2,898 | 2,835 |
Accrued payroll | 3,030 | 2,151 |
Workers' compensation reserve | 3,824 | 3,446 |
Group health insurance | 1,800 | 2,500 |
Other | 4,730 | 3,039 |
Total accounts payable and accrued liabilities | 33,526 | 31,800 |
Interest Rate Swap [Member] | ||
Fair value of interest rate swaps | $ 3,021 | $ 1,714 |
Note 7 - Revenue 1 (Details Tex
Note 7 - Revenue 1 (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Contract with Customer, Liability, Current | $ 0.4 | $ 0.4 | ||
Coal [Member] | INDIANA | Revenue from Contract with Customer Benchmark [Member] | Geographic Concentration Risk [Member] | ||||
Concentration Risk, Percentage | 75.00% | 67.00% | 75.00% | 69.00% |
Note 7 - Revenue 2 (Details Tex
Note 7 - Revenue 2 (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01 $ in Millions | Sep. 30, 2020USD ($) |
Fixed-price Contract [Member] | |
Revenue, Remaining Performance Obligation, Amount | $ 494 |
Revenue, Remaining Performance Obligation, Percentage | 57.00% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Contracts with Price Reopeners [Member] | |
Revenue, Remaining Performance Obligation, Amount | $ 237 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 2022 years |
Note 8 - Other Operating Inco_3
Note 8 - Other Operating Income - Other Operating Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Equity income (loss) - Sunrise Energy | $ (119) | $ (184) | $ 1,167 | $ (350) |
Government imposition reimbursements | 100 | 150 | 300 | 450 |
Gain on sale of royalty interests in oil properties | 0 | 0 | 2,949 | |
Coal storage | 127 | 0 | 211 | 0 |
Miscellaneous | 266 | 247 | 910 | 2,439 |
Other Operating Income | $ 374 | $ 213 | $ 2,588 | $ 5,488 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 69.00% | 98.00% | 69.00% | 98.00% |
Note 10 - Stock Compensation _3
Note 10 - Stock Compensation Plans (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Share-based Payment Arrangement, Expense | $ 0.3 | $ 0.4 | $ 0.9 | $ 1.4 |
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ 0.3 | $ 0.3 | ||
Share Price (in dollars per share) | $ 0.65 | $ 0.65 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 1,379,650 | 1,379,650 |
Note 10 - Stock Compensation _4
Note 10 - Stock Compensation Plans - RSU Activity (Details) - Restricted Stock Units (RSUs) [Member] | 9 Months Ended |
Sep. 30, 2020shares | |
Non-vested grants at December 31, 2019 (in shares) | 488,500 |
Granted – average weighted share price on grant date was $0.90 (in shares) | 40,000 |
Vested – average weighted share price on vesting date was $0.68 (in shares) | (72,000) |
Forfeited (in shares) | (9,500) |
Non-vested grants at September 30, 2020 (in shares) | 447,000 |
Note 10 - Stock Compensation _5
Note 10 - Stock Compensation Plans - RSU Activity (Details) (Parentheticals) - Restricted Stock Units (RSUs) [Member] | 9 Months Ended |
Sep. 30, 2020$ / shares | |
Share price on grant date (in dollars per share) | $ 0.90 |
Share price on vesting date (in dollars per share) | $ 0.68 |
Note 10 - Stock Compensation _6
Note 10 - Stock Compensation Plans - Vesting of Non-vested RSU Grants (Details) - Restricted Stock Units (RSUs) [Member] | Sep. 30, 2020shares |
RSUs vesting (in shares) | 447,000 |
Vesting in 2020 [Member] | |
RSUs vesting (in shares) | 106,250 |
Vesting in 2021 [Member] | |
RSUs vesting (in shares) | 306,750 |
Vesting in 2022 [Member] | |
RSUs vesting (in shares) | 24,000 |
Vesting in 2023 [Member] | |
RSUs vesting (in shares) | 10,000 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Buildings and Equipment [Member] | ||
Operating Lease, Right-of-Use Asset | $ 645,000 | $ 800,000 |
Minimum [Member] | ||
Lessee, Operating Lease, Remaining Lease Term (Year) | 1 year | |
Maximum [Member] | ||
Lessee, Operating Lease, Remaining Lease Term (Year) | 5 years |
Note 11 - Leases - Information
Note 11 - Leases - Information Related to Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Operating cash outflows from operating leases | $ 50 | $ 77 | $ 184 | $ 234 |
Weighted average remaining lease term in years (Year) | 3 years 5 months 4 days | 4 years 1 month 9 days | 3 years 5 months 4 days | 4 years 1 month 9 days |
Weighted average discount rate | 6.00% | 6.00% | 6.00% | 6.00% |
Note 11 - Leases - Future Minim
Note 11 - Leases - Future Minimum Lease Payments (Details) $ in Thousands | Sep. 30, 2020USD ($) |
2020 | $ 50 |
2021 | 203 |
2022 | 206 |
2023 | 174 |
2024 | 60 |
Total minimum lease payments | 693 |
Less imputed interest | (48) |
Total operating lease liabilities | 645 |
Other Noncurrent Liabilities [Member] | |
Other long-term liabilities | $ 645 |
Note 12 - Self-insurance (Detai
Note 12 - Self-insurance (Details Textual) $ in Thousands | Sep. 30, 2020USD ($)item | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) |
Property, Plant and Equipment, Gross, Ending Balance | $ 562,621 | $ 550,496 | |
Restricted Cash and Cash Equivalents, Total | 4,243 | 4,512 | $ 4,726 |
Future Workers' Compensation Claim Payments [Member] | |||
Restricted Cash and Cash Equivalents, Total | $ 4,200 | 4,500 | |
Mining Properties and Mineral Rights [Member] | |||
Number of Mining Units | 7 | ||
Area of Real Estate Property | item | 10 | ||
Property, Plant and Equipment, Gross, Ending Balance | $ 273,000 | $ 273,000 |
Note 13 - Income (Loss) Per S_3
Note 13 - Income (Loss) Per Share - Computation of Net Income(Loss) Allocated to Common Shareholders (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net loss | $ 1,923 | $ (3,723) | $ (1,483) | $ (67) |
Less loss (income) allocated to RSUs | (28) | 93 | 23 | 0 |
Net income (loss) allocated to common shareholders | $ 1,895 | $ (3,630) | $ (1,460) | $ (67) |
Note 14 - Fair Value Measurem_3
Note 14 - Fair Value Measurements (Details Textual) gal in Millions, $ in Millions | Jan. 01, 2020$ / gal | Sep. 30, 2020USD ($)gal |
Interest Rate Swap [Member] | ||
Derivative, Number of Instruments Held, Total | 2 | |
Interest Rate Swap, One [Member] | ||
Derivative, Notional Amount | $ | $ 53 | |
Interest Rate Swap, Two [Member] | ||
Derivative, Notional Amount | $ | $ 86 | |
Fuel Hedge [Member] | ||
Derivative, Nonmonetary Notional Amount, Volume (Gallon) | gal | 1.4 | |
Fuel Hedge [Member] | Minimum [Member] | ||
Underlying, Derivative Volume (in USD per Gallon) | $ / gal | 1.79 | |
Fuel Hedge [Member] | Maximum [Member] | ||
Underlying, Derivative Volume (in USD per Gallon) | $ / gal | 2 |
Note 14 - Fair Value Measurem_4
Note 14 - Fair Value Measurements - Financial Assets and Liabilities Measured on a Recurring Basis at Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Marketable securities - restricted | $ 2,296 | |
Assets, Fair Value Disclosure | 2,321 | |
Derivative liabilities | $ 5,556 | |
Fuel Hedge [Member] | ||
Fuel hedge | 25 | |
Derivative liabilities | 750 | |
Interest Rate Swap [Member] | ||
Derivative liabilities | 4,806 | 3,825 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Marketable securities - restricted | 2,296 | |
Assets, Fair Value Disclosure | 2,296 | |
Derivative liabilities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Fuel Hedge [Member] | ||
Fuel hedge | 0 | |
Derivative liabilities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Derivative liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Marketable securities - restricted | 0 | |
Assets, Fair Value Disclosure | 0 | |
Derivative liabilities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Fuel Hedge [Member] | ||
Fuel hedge | 0 | |
Derivative liabilities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Derivative liabilities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Marketable securities - restricted | 0 | |
Assets, Fair Value Disclosure | 25 | |
Derivative liabilities | 5,556 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Fuel Hedge [Member] | ||
Fuel hedge | 25 | |
Derivative liabilities | 750 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Derivative liabilities | $ 4,806 | $ 3,825 |
Note 14 - Fair Value Measurem_5
Note 14 - Fair Value Measurements - Change in Fair Value of the Fuel Hedges and Interest Rate Swaps (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020USD ($) | ||
Ending balance, December 31, 2019* | $ (3,800) | [1] |
Change in estimated fair value | (1,756) | |
Ending balance, September 30, 2020* | $ (5,556) | [1] |
[1] | ecorded in accounts payable and accrued liabilities and other liabilities in the Condensed Consolidated Balance Sheets. |
Note 15 - Equity Method Inves_2
Note 15 - Equity Method Investments (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Equity Method Investments | $ 3,293 | $ 3,139 |
Sunrise Energy, LLC [Member] | ||
Equity Method Investment, Ownership Percentage | 50.00% | |
Equity Method Investments | $ 3,300 | $ 3,100 |