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Deferred Consideration (Tables) | 6 Months Ended
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Jun. 30, 2020
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Summary of valuation of deferred consideration | The Company determined the present value of the deferred consideration of $198,784 and $173,024 at June 30, 2020 and December 31, 2019 using the following assumptions:
|  | June 30, 2020 |  |  | December 31, 2019 |
Forward-looking gold price (low) – per ounce |  | $ | 1,805 |  |  | $ | 1,535 |
Forward-looking gold price (high) – per ounce |  | $ | 2,595 |  |  | $ | 2,328 |
Forward-looking gold price (weighted average) – per ounce |  | $ | 2,015 |  |  | $ | 1,757 |
Discount rate |  |  | 10.0 | % |  |  | 10.0 | %
Perpetual growth rate |  |  | 1.0 | % |  |  | 1.5 | %
Schedule of Deferred Consideration | During the three and six months ended June 30, 2020 and 2019, the Company recognized the following in respect of deferred consideration:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Contractual g old p ayments |  | $ | 4,063 |  |  | $ | 3,110 |  |  | $ | 7,823 |  |  | $ | 6,208 |
Contractual g old p ayments – gold ounces paid |  |  | 2,375 |  |  |  | 2,375 |  |  |  | 4,750 |  |  |  | 4,750 |
(Loss)/gain on revaluation of deferred consideration – gold payments (1) |  | $ | (23,358 | ) |  | $ | (4,037 | ) |  | $ | (25,566 | ) |  | $ | 367 |
(1) | Gains/(losses) arise due to (decreases)/increases in the forward-looking price of gold and the magnitude of any gain or loss is highly correlated to the magnitude of the change in the forward-looking price of gold.

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