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Fair Value Measurement (Tables)
9 Months Ended
Sep. 30, 2021
Fair Value Measurement  
Assets measured at fair value by level within fair value hierarchy

As of

As of

September 30, 

December 31,

Input Hierarchy Level

2021

2020

(in thousands)

Cash and cash equivalents

$

29,544

$

25,405

Level 1

Gold and silver rounds/bullion

$

559

$

671

Level 1

Accounts receivable, net

$

4,947

$

4,226

Level 2

Derivative liability - zinc zero cost collar

$

(144)

$

-

Level 2

Gains and Losses Related to Changes in Fair Value

For the three months ended September 30, 

For the nine months ended September 30, 

Statement of Operations Classification

2021

2020

2021

2020

Note

(in thousands)

Realized and unrealized derivative (loss) gain, net

14

$

(478)

$

550

$

156

$

18

Sales, net

Unrealized gold and silver rounds/bullion (loss) gain

16

$

(55)

$

716

$

(86)

$

1,175

Other expense, net

Realized (loss) on zinc zero cost collar, net

16

$

(40)

$

-

$

(40)

$

-

Other expense, net

Realized and Unrealized Gain Losses on Derivatives

The following tables summarize the Company’s realized/unrealized derivatives for the periods presented (in thousands):

Gold

Silver

Copper

Lead

Zinc

Total

For the three months ended September 30, 2021

Realized (loss) gain

$

(110)

$

(295)

$

(4)

$

72

$

91

$

(246)

Unrealized gain (loss)

28

(11)

(16)

(84)

(149)

(232)

Total realized/unrealized derivatives, net

$

(82)

$

(306)

$

(20)

$

(12)

$

(58)

$

(478)

Gold

Silver

Copper

Lead

Zinc

Total

For the three months ended September 30, 2020

Realized gain

$

132

$

339

$

89

$

16

$

77

$

653

Unrealized (loss)

(11)

(47)

(24)

(10)

(11)

(103)

Total realized/unrealized derivatives, net

$

121

$

292

$

65

$

6

$

66

$

550

Gold

Silver

Copper

Lead

Zinc

Total

For the nine months ended September 30, 2021

Realized (loss) gain

$

(133)

$

(123)

$

63

$

146

$

251

$

204

Unrealized gain (loss)

58

10

(24)

(63)

(29)

(48)

Total realized/unrealized derivatives, net

$

(75)

$

(113)

$

39

$

83

$

222

$

156

Gold

Silver

Copper

Lead

Zinc

Total

For the nine months ended September 30, 2020

Realized gain (loss)

$

651

$

451

$

20

$

(143)

$

(729)

$

250

Unrealized (loss) gain

(209)

(290)

(9)

41

235

(232)

Total realized/unrealized derivatives, net

$

442

$

161

$

11

$

(102)

$

(494)

$

18