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Note 15 - Derivatives and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Not Designated as Hedging Instruments [Table Text Block]

As of December 31, 2024, the Company had the following outstanding derivatives that were not designated as hedges in qualifying hedging relationships. The Company settled 37,861 ounces of gold related to the hedging agreements with 86,739 ounces of gold outstanding as of December 31, 2024. In February 18 2025, the Company amended the Facility agreement and extended the delivery of 15,000 hedged ounces of gold into the first half of 2027 (See Note18):

 

Period

 

Commodity

 

 

Volume

 

Weighted Average Price ($/oz)

 

2025

 

Gold

 

 

 

45,639

 

$

2,025.17

 

2026

 

Gold

 

 

 

41,100

 

$

2,025.17

 

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of December 31, 2024 and December 31, 2023.

 

 

 

 

As of December 31, 2024

 

 

As of December 31, 2023

 

 

Derivatives not designated as hedging instruments

 

Balance Sheet
Location

 

Gross
Recognized
Assets /
Liabilities

 

 

Gross
Amounts
Offset

 

 

Net
Recognized
Assets /
Liabilities

 

 

Gross
Recognized
Assets /
Liabilities

 

 

Gross
Amounts
Offset

 

 

Net
Recognized
Assets /
Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commodity Contracts

 

Derivative contract asset - current

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

Commodity Contracts

 

Derivative contract liability - current

 

$

(29,076,582

)

 

$

 

 

$

(29,076,582

)

 

$

(2,679,784

)

 

$

 

 

$

(2,679,784

)

 

Commodity Contracts

 

Derivative contract asset - noncurrent

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

Commodity Contracts

 

Derivative contract liability - noncurrent

 

$

(28,615,525

)

 

$

 

 

$

(28,615,525

)

 

$

(20,737,997

)

 

$

 

 

$

(20,737,997

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative Instruments, Gain (Loss) [Table Text Block]

The table below presents the effect of the Company’s derivative financial instruments that are not designated as hedging instruments on the Consolidated Statement of Operations for the fiscal year ended December 31, 2024, six months ended December 31, 2023 and fiscal year ended June 30, 2023.

 

 

 

Fiscal Year Ended December 31,

 

 

Six Months Ended December 31,

 

 

Fiscal Year Ended June 30,

 

 

 

2024

 

 

2023

 

 

2023

 

 

 

 

Amount of Gain or (Loss)

 

 

Amount of Gain or (Loss)

 

 

Amount of Gain or (Loss)

 

Derivatives Not Designated as Hedging

 

Location of Gain or (Loss)

Recognized in Statement of Operations

 

 

Recognized in Statement of Operations

 

 

Recognized in Statement of Operations

 

Instruments under Subtopic 815-20

 

Recognized in Income on Derivative

Derivative

 

 

Derivative

 

 

Derivative

 

 

 

 

 

 

 

 

 

 

 

 

Commodity Contracts

 

Unrealized loss on derivative contracts

$

(34,274,326

)

 

$

(23,417,781

)

 

$

 

Commodity Contracts

 

Realized loss on derivative contracts

$

(19,875,815

)

 

$

 

 

$

 

Total

 

 

$

(54,150,141

)

 

$

(23,417,781

)

 

$