Deferred Consideration (Tables)

9 Months Ended

Sep. 30, 2022

Text Block [Abstract]

Summary of valuation of deferred consideration

The Company determined the present value of the deferred consideration of $164,757 and $228,062 at September 30, 2022 and December 31, 2021 using the following assumptions:

	September 30, 2022		December 31, 2021
Forward-looking gold price (low)—per ounce	$	1,665	$	1,833
Forward-looking gold price (high)—per ounce	$	3,027	$	2,705
Forward-looking gold price (weighted average)—per ounce	$	2,037	$	2,106
Discount rate		12.25%		9.0%
Perpetual growth rate		1.54%		1.0%

Schedule of Deferred Consideration

During the three and nine months ended September 30, 2022 and 2021, the Company recognized the following in respect of deferred consideration:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Contractual gold payments	$	4,105	$	4,250	$	13,001	$	12,834
Contractual gold payments—gold ounces paid		2,375		2,375		7,125		7,125
Gain on revaluation of deferred consideration—gold payments(1)	$	77,895	$	1,737	$	63,188	$	5,066

(1)  Gains on revaluation of deferred consideration—gold payments result from a decrease in spot gold prices, a decrease in the forward-looking price of gold, a decrease in the perpetual growth rate and an increase in the discount rate used to compute the present value of the annual payment obligations.