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Zinc Zero Cost Collar

9 Months Ended

Sep. 30, 2022

Zinc Zero Cost Collar

Zinc Zero Cost Collar

17. Zinc Zero Cost Collar

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During the three and nine months ended September 30, 2022 and 2021, the realized and unrealized (gains) losses related to the Company’s Zinc Zero Cost Collar are the following:

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For the three months ended September 30,

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For the nine months ended September 30,

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2022

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2021

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2022

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2021

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(in thousands)

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(in thousands)

Realized (gain) loss on zinc zero cost collar

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$

(61)

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$

40

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$

2,396

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$

40

Unrealized (gain) loss on zinc zero cost collar

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(157)

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144

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(2,276)

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144

Total

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$

(218)

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$

184

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$

120

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$

184

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On May 18, 2021, the Company entered into a Trading Agreement with Auramet International LLC that governs nonexchange traded, over-the-counter, spot, forward and option transactions on both a deliverable and non-deliverable basis involving various metals and currencies. Gains and losses due to changes in fair value are non-cash in nature until such time that they are realized through cash transactions. Please see Note 14—Derivatives for additional information. As of September 30, 2022, the zinc zero cost collar was in an asset position ($0.4 million), while in prior periods we had a liability related to the program.

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- References

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- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-URI http://asc.fasb.org/topic&trid=2229140

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 5
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123477628&loc=d3e90205-114008

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