Deferred Consideration (Tables)

6 Months Ended

Jun. 30, 2022

Summary of valuation of deferred consideration

The Company determined the present value of the deferred consideration of $242,767 and $228,062 at June 30, 2022 and December 31, 2021 using the following assumptions:


	June 30, 2022			December 31, 2021
Forward-looking gold price (low) – per ounce	$	1,812		$	1,833
Forward-looking gold price (high) – per ounce	$	3,148		$	2,705
Forward-looking gold price (weighted average) – per ounce	$	2,265		$	2,106
Discount rate		9.0	%		9.0	%
Perpetual growth rate		1.43	%		1.0	%

Schedule of Deferred Consideration

During the three and six months ended June 30, 2022 and 2021, the Company recognized the following in respect of deferred consideration:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022			2021

Contractual gold payments	$	4,446	$	4,314	$	8,896		$	8,584
Contractual gold payments – gold ounces paid		2,375		2,375		4,750			4,750
Gain/(loss) on revaluation of deferred consideration – gold payments (1)	$	2,311	$	497	$	(14,707	)	$	3,329

(1)

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. 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.