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Deferred Consideration (Tables)

6 Months Ended

Jun. 30, 2020

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.