Deferred Consideration (Tables)

12 Months Ended

Dec. 31, 2022

Summary of valuation of deferred consideration

The Company determined the present value of the deferred consideration of $200,290 and $228,062 at December 31, 2022 and 2021 using

the following assumptions:


	December 31, 2022		December 31, 2021
Forward-looking gold price (low)—per ounce	$	1,858	$	1,833
Forward-looking gold price (high)—per ounce	$	3,126	$	2,705
Forward-looking gold price (weighted average)—per ounce	$	2,237	$	2,106
Discount rate		11.0%		9.0%
Perpetual growth rate		1.3%		1.0%

Schedule of Deferred Consideration

During the years ended December 31, 2022 and 2021, the Company recognized the following in respect of deferred consideration:


	Years Ended December 31,
	2022		2021		2020
Contractual gold payments	$	17,108	$	17,096	$	16,811
Contractual gold payments—gold ounces paid		9,500		9,500		9,500
Gain/(loss) on revaluation of deferred consideration—gold payments (1)	$	27,765	$	2,018	$	(56,821	)

(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.