Deferred Consideration (Tables)

3 Months Ended

Mar. 31, 2023

Summary of valuation of deferred consideration

The Company determined the present value of the deferred consideration of $179,831 and $200,290 at March 31, 2023 and December 31, 2022 using the following assumptions:


	March 31, 2023		December 31, 2022
Forward-looking gold price (low)—per ounce	$	1,999	$	1,858
Forward-looking gold price (high)—per ounce	$	3,567	$	3,126
Forward-looking gold price (weighted average)—per ounce	$	2,401	$	2,237
Discount rate		13.3%		11.0%
Perpetual growth rate		1.5%		1.3%

Schedule of Deferred Consideration

During the three months ended March 31, 2023 and 2022, the Company recognized the following in respect of deferred consideration:


	Three Months Ended March 31,
	2023		2022
Contractual Gold Payments	$	4,486	$	4,450
Contractual Gold Payments—gold ounces paid		2,375		2,375
Gain/(loss) on revaluation of deferred consideration—gold payments (1)	$	20,592	$	(17,018)

(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.