Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2022

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
	2022		2021
	(in thousands)
Cash and cash equivalents	$	22,531	$	33,712	Level 1
Accounts receivable, net	$	3,741	$	8,672	Level 2
Investment in equity securities	$	1,716	$	-	Level 1
Derivative asset - zinc zero cost collar	$	432	$	-	Level 2
Derivative liability - zinc zero cost collar	$	-	$	(1,844)	Level 2
Contingent consideration	$	(4,036)	$	(4,603)	Level 3
Gold and silver stream agreements	$	(43,201)	$	(42,560)	Level 3

Gains and Losses Related to Changes in Fair Value

		For the three months ended September 30,				For the nine months ended September 30,				Statements of Operations Classification
		2022		2021		2022		2021
	Note	(in thousands)
Realized and unrealized derivative (loss) gain, net	14	$	(934)	$	(478)	$	(1,064)	$	156	Sales, net
Realized gain (loss) on zinc zero cost collar	17	$	61	$	(40)	$	(2,396)	$	(40)	Realized and unrealized loss on zinc zero cost collar
Unrealized gain (loss) on zinc zero cost collar	17	$	157	$	(144)	$	2,276	$	(144)	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 September 30, 2022
Realized loss	$	(198)	$	(141)	$	(158)	$	(88)	$	(627)	$	(1,212)
Unrealized (loss) gain		(95)		(81)		108		96		250		278
Total realized/unrealized derivatives, net	$	(293)	$	(222)	$	(50)	$	8	$	(377)	$	(934)

	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 nine months ended September 30, 2022
Realized (loss) gain	$	(16)	$	13	$	(173)	$	(32)	$	1,022	$	814
Unrealized (loss) gain		(96)		30		3		(103)		(1,712)		(1,878)
Total realized/unrealized derivatives, net	$	(112)	$	43	$	(170)	$	(135)	$	(690)	$	(1,064)

	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