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Deferred Consideration (Tables) | 3 Months Ended
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Mar. 31, 2022
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Summary of valuation of deferred consideration | The Company determined the present value of the deferred consideration of $245,177 and $228,062 at March 31, 2022 and December 31, 2021 using the following assumptions:
|  | March 31, 2022 |  |  | December 31, 2021 |
Forward-looking gold price (low) – per ounce |  | $ | 1,958 |  |  | $ | 1,833 |
Forward-looking gold price (high) – per ounce |  | $ | 2,853 |  |  | $ | 2,705 |
Forward-looking gold price (weighted average) – per ounce |  | $ | 2,263 |  |  | $ | 2,106 |
Discount rate |  |  | 9.0 | % |  |  | 9.0 | %
Perpetual growth rate |  |  | 0.9 | % |  |  | 1.0 | %
Schedule of Deferred Consideration | During the three months ended March 31, 2022 and 2021, the Company recognized the following in respect of deferred consideration:
|  | Three Months Ended March 31, |
|  | 2022 |  |  | 2021 |
Contractual gold payments |  | $ | 4,450 |  |  | $ | 4,270 |
Contractual gold payments – gold ounces paid |  |  | 2,375 |  |  |  | 2,375 |
(Loss)/gain on revaluation of deferred consideration – gold payments (1) |  | $ | (17,018 | ) |  | $ | 2,832 |
(1) | Losses on revaluation of deferred consideration—gold payments result from an increase in spot gold prices, an increase in the forward-looking price of gold, an increase in the perpetual growth rate and a decrease in the discount rate used to compute the present value of the annual payment obligations. Gains on revaluation of deferred consideration—gold payments result from a decrease in spot gold prices, a decrease in the forward-looking price of gold, a decrease in the perpetual growth rate and an increase in the discount rate used to compute the present value of the annual payment obligations.

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