69 / 111
68
9. COMMITMENTS AND CONTINGENCIES
Future commitments
At December 31, 2015, our contractual obligations consisted of operating lease obligations of $114
associated with our Lakewood, Colorado corporate office as well as facilities in Sundance, Wyoming.
Potential environmental contingency
Our exploration and development activities are subject to various federal and state laws and regulations
governing the protection of the environment. These laws and regulations are continually changing and generally
becoming more restrictive. The Company conducts its operations so as to protect public health and the environment
and believes its operations are materially in compliance with all applicable laws and regulations. We have made,
and expect to make in the future, expenditures to comply with such laws and regulations. The ultimate amount of
reclamation and other future site-restoration costs to be incurred for existing mining interests is uncertain.
10. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS
Supplemental cash flow information for the respective periods is as follows:
For the years ended December 31,
2015
2014
Other Information
Interest received
$ 35
$ 77
11. RETIREMENT PLAN
Beginning on January 1, 2012, the Company began sponsoring a qualified tax-deferred savings plan in
accordance with the provisions of Section 401(k) of the U.S. Internal Revenue Code, which was available to
permanent, full-time U.S. employees after the first day of the month following their hire date. Employees could
contribute up to 100% of their compensation, but not to exceed the maximum allowable contribution amount under
IRS rules. In the past, we matched 100% of an employee’s contributions up to 3% and 50% of an employee’s
contribution between 3% and 5% for a total contribution of up to 4%; however, we ceased matching employee
contributions to the plan as of May 15, 2015. The Company’s contributions vested immediately. Our expense to
match employee contributions made during the years ended December 31, 2015 and 2014, was $29 and $86,
respectively. The Company terminated the qualified tax-deferred savings plan as of January 31, 2016 and is in the
process of an orderly distribution of the assets to the participants.
12. SEGMENT INFORMATION
The Company operates in a single reportable operating segment, being the exploration of mineral
properties.