The following table summarizes changes in the Company’s Asset retirement obligation (in thousands):


	September 30, 2025		December 31, 2024
Balance, beginning of period	$	13,151	$	7,973
Accretion	999		1,253
Spending	—		(1,938)
Change in estimates	(2,675)		5,863
Balance, end of period	$	11,475	$	13,151

Current	$	22	$	179
Non-current	$	11,453	$	12,972

For both the three and nine months ended September 30, 2025, the Company recognized a decrease in its Asset retirement obligation in accordance with the change in estimate of $2.7 million due to the change in timing of the anticipated reclamation activities. During the three and nine months ended September 30, 2024, the Company recognized an Asset retirement obligation adjustment of $2.3 million and $6.3 million, respectively.

The Company does not have mineral reserves, and accordingly, all related costs are expensed until mineral reserves are established.