Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Measurement

Assets measured at fair value by level within fair value hierarchy

	As of		As of
	June 30,		December 31,		Input Hierarchy Level
	2022		2021
	(in thousands)
Cash and cash equivalents	$	33,335	$	33,712	Level 1
Accounts receivable, net	$	6,277	$	8,672	Level 2
Derivative asset - zinc zero cost collar	$	275	$	-	Level 2
Derivative liability - zinc zero cost collar	$	-	$	(1,844)	Level 2

Gains and Losses Related to Changes in Fair Value

		For the three months ended June 30,				For the six months ended June 30,				Statements of Operations Classification
		2022		2021		2022		2021
	Note	(in thousands)
Realized and unrealized derivative gain (loss), net	14	$	(2,164)	$	669	$	(130)	$	634	Sales, net
Realized loss on zinc zero cost collar	17	$	(829)	$	-	$	(2,457)	$	-	Realized and unrealized loss on zinc zero cost collar
Unrealized loss on zinc zero cost collar	17	$	4,628	$	-	$	2,119	$	-	Realized and unrealized loss on zinc zero cost collar

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 June 30, 2022
Realized gain (loss)	$	56	$	(95)	$	(58)	$	37	$	1,220	$	1,160
Unrealized loss		(243)		(164)		(121)		(246)		(2,550)		(3,324)
Total realized/unrealized derivatives, net	$	(187)	$	(259)	$	(179)	$	(209)	$	(1,330)	$	(2,164)

	Gold		Silver		Copper		Lead		Zinc		Total
For the three months ended June 30, 2021
Realized gain	$	21	$	87	$	62	$	30	$	159	$	359
Unrealized gain (loss)		130		103		(47)		87		37		310
Total realized/unrealized derivatives, net	$	151	$	190	$	15	$	117	$	196	$	669

	Gold		Silver		Copper		Lead		Zinc		Total
For the six months ended June 30, 2022
Realized gain	$	182	$	154	$	(15)	$	56	$	1,649	$	2,026
Unrealized gain		(1)		111		(105)		(199)		(1,962)		(2,156)
Total realized/unrealized derivatives, net	$	181	$	265	$	(120)	$	(143)	$	(313)	$	(130)

	Gold		Silver		Copper		Lead		Zinc		Total
For the six months ended June 30, 2021
Realized (loss) gain	$	(23)	$	172	$	67	$	74	$	160	$	450
Unrealized gain (loss)		30		21		(8)		21		120		184
Total realized/unrealized derivatives, net	$	7	$	193	$	59	$	95	$	280	$	634