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Deferred Consideration (Tables) | 9 Months Ended
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Sep. 30, 2022
Text Block [Abstract] |
Summary of valuation of deferred consideration | The Company determined the present value of the deferred consideration of $164,757 and $228,062 at September 30, 2022 and December 31, 2021 using the following assumptions:
|  | September 30, 2022 |  |  | December 31, 2021 |
Forward-looking gold price (low)—per ounce |  | $ | 1,665 |  |  | $ | 1,833 |
Forward-looking gold price (high)—per ounce |  | $ | 3,027 |  |  | $ | 2,705 |
Forward-looking gold price (weighted average)—per ounce |  | $ | 2,037 |  |  | $ | 2,106 |
Discount rate |  |  | 12.25% |  |  |  | 9.0% |
Perpetual growth rate |  |  | 1.54% |  |  |  | 1.0% |
Schedule of Deferred Consideration | During the three and nine months ended September 30, 2022 and 2021, the Company recognized the following in respect of deferred consideration:
|  |  |  |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  |  |  |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Contractual gold payments |  |  |  |  |  | $ | 4,105 |  |  | $ | 4,250 |  |  | $ | 13,001 |  |  | $ | 12,834 |
Contractual gold payments—gold ounces paid |  |  |  |  |  |  | 2,375 |  |  |  | 2,375 |  |  |  | 7,125 |  |  |  | 7,125 |
Gain on revaluation of deferred consideration—gold payments (1) |  |  |  |  |  | $ | 77,895 |  |  | $ | 1,737 |  |  | $ | 63,188 |  |  | $ | 5,066 |
(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.

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