Property, Plant and Equipment |
3 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | |||||||
| Property, Plant, and Equipment [Abstract] | |||||||
| Property, Plant and Equipment | (9) Property, Plant and Equipment
Depreciation and Depletion
Property and equipment are recorded at historical cost. Major additions and improvements that extend the useful life or functionality of an asset are capitalized, while routine repairs and maintenance are expensed as incurred.
Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets as follows:
For assets associated with mineral recovery operations, including mine tailings processing, the Company capitalizes costs that are directly attributable to bringing the asset to the point of economic use. These include certain engineering and preparation costs where appropriate under GAAP. When depletion is applicable, the Company uses the unit-of-production method to allocate the capitalized cost of a resource-based asset over the volume of resource extracted during the reporting period. No depletion expense has been recorded to date due to the absence of production.
Impairment of Long-Lived Assets
The Company reviews long-lived assets, including property and equipment, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is assessed based on the estimated undiscounted future cash flows expected to result from the use of the asset. If the carrying value exceeds those cash flows, an impairment loss is recognized equal to the difference between the asset’s carrying amount and its estimated fair value, as required by ASC 360, Property, Plant, and Equipment.
During the periods presented, the Company evaluated its long-lived assets for impairment and recorded impairment or depreciation adjustments as necessary. |