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Embedded Derivatives

6 Months Ended

Jun. 30, 2018

Embedded Derivatives

Embedded Derivatives

14. Embedded Derivatives

Concentrate sales contracts contain embedded derivatives due to the provisional pricing terms for unsettled deliveries. At the end of each reporting period, the Company records an adjustment to accounts receivable and revenue to reflect the mark-to-market adjustments for outstanding provisional invoices based on metal forward prices.  Please see Note 18 for additional information.

The following table summarizes the Company’s unsettled sales contracts as of June 30, 2018 with the quantities of metals under contract subject to final pricing occurring through September 2018:

		Gold			Silver			Copper			Lead			Zinc
		(ounces)			(ounces)			(tonnes)			(tonnes)			(tonnes)
Under contract			8,928			891,195			740			2,941			7,959
Average forward price (per ounce or tonne)		$	1,318		$	16.61		$	6,934		$	2,440		$	3,263

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- References

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- Definition

The entire disclosure for hybrid instruments and embedded derivatives, including discussion of the process used in evaluating whether a hybrid instrument in the form of a share constitutes a debt or equity security, and on what basis an embedded derivative was deemed to be separable or inseparable from the host instrument.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 15
-URI http://asc.fasb.org/subtopic&trid=2229187

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