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v3.22.2.2

Secured Note Liability (Tables) | 9 Months Ended
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Sep. 30, 2022
Secured Note Liability [Abstract] |
Schedule of inputs and assumptions |
Inputs and Assumption |  |  | March 24, 2022 |  |  |  | September 30, 2022 |
Weighted Average Life 1 |  |  | 23.5 years |  |  |  | 44.7 years |
Risk-free rate |  |  | 2.5 | % |  |  | 3.2 | %
Credit spread |  |  | 5.2 | % |  |  | 6.4 | %
Volatility |  |  | 60 | % |  |  | 60 | %
Silver royalty discount factor |  |  | 7.1 | % |  |  | 8.6 | %
| 1) | Weighted average life reflects the revised silver forecast production schedule contained in the recently filed KSM updated Preliminary Feasibility Study (PFS) and Preliminary Economic Assessment (PEA) for the KSM project.
Schedule of carrying amount for the secured note |
($000s) |  | Secured Note |
Fair value at inception |  |  | 282,263 |
Add (deduct): |  |  |  |
Unrealized change in fair value |  |  | (82,337 | )
Foreign currency translation loss |  |  | 20,734 |
Carrying value and fair value on September 30, 2022 |  |  | 220,660 |
Schedule of inputs and assumptions |
Key Inputs |  | Inter-relationship between significant inputs and fair value measurement |  | Increase (decrease) (millions) |
Key observable inputs |  | The estimated fair value would increase (decrease) if: |  |  |  |
● Silver price forward curve |  | ● Future silver prices were 10% higher |  | $ | 15.0 |
|  | ● Future silver prices were 10% lower |  | $ | (8.8 | )
● Discount rates (7.9% - 9.2%) |  | ● Discount rates were 1% higher |  | $ | (17.0 | )
|  | ● Discount rates were 1% lower |  | $ | 19.6 |
Key unobservable inputs |  |  |  |  |  |
● Forecasted silver production |  | ● Silver production indicated silver ounces were 10% higher |  | $ | 7.9 |
|  | ● Silver production indicated silver ounces were 10% lower |  | $ | (7.4 | )

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