14 unchanged sentences
The primary factors that influence the need to record write-downs of our stockpiles, leach pads and product inventory include short-term and long-term metals prices and costs for production inputs such as labor, fuel and energy, materials and supplies as well as realized ore grades and recovery rates.
−Removed: The significant assumptions in determining the stockpile, leach pad and metal inventory adjustments at June 30, 2024 included production cost and capitalized expenditure assumptions unique to each operation, a short-term and long-term gold price of $2,338 and $1,963 per ounce, respectively, and a short-term and long-term silver price of $28.84 and $24.85 per ounce, respectively.
+Added: The significant assumptions in determining the stockpile, leach pad and metal inventory adjustments at September 30, 2024 included production cost and capitalized expenditure assumptions unique to each operation, a short-term and long-term gold price of $2,474 and $2,017 per ounce, respectively, and a short-term and long-term silver price of $29.43 and $25.78 per ounce, respectively.
The net realizable value measurement involves the use of estimates and assumptions unique to each mining operation regarding current and future operating and capital costs, metal recoveries, production levels, commodity prices, proven and probable reserve quantities, engineering data and other factors.
7 unchanged sentences
For additional information, please see the section titled “Item 1A - Risk Factors” in this Report.
−Removed: For the six months ended June 30, 2024, the Company recognized a loss of $12.9 million and $4.3 million related to expired gold and silver contracts, respectively.
−Removed: The Company had no outstanding gold or silver hedging contracts at June 30, 2024.
+Added: For the nine months ended September 30, 2024, the Company recognized a loss of $12.9 million and $4.3 million related to expired gold and silver contracts, respectively.
+Added: The Company had no outstanding gold or silver hedging contracts at September 30, 2024.
Provisional Metal Sales
4 unchanged sentences
The mark-to-market gains and losses are recorded in earnings.
−Removed: At June 30, 2024, the Company had outstanding provisionally priced sales of 12,313 ounces of gold at an average price of $2,346.
−Removed: Changes in gold prices resulted in provisional pricing mark-to-market gain of $1.0 million during the three months ended June 30, 2024.
+Added: At September 30, 2024, the Company had outstanding provisionally priced sales of 12,213 ounces of gold at an average price of $2,568.
+Added: Changes in gold prices resulted in provisional pricing mark-to-market gain of $0.4 million during the three months ended September 30, 2024.
A 10% change in realized gold prices would cause revenue to vary by $3.1 million.
8 unchanged sentences
In 2020, the Company entered into foreign currency forward contracts to manage this risk and designated these instruments as cash flow hedges of forecasted foreign denominated transactions.
−Removed: The Company had no outstanding foreign currency forward exchange contracts at June 30, 2024.
+Added: The Company had no outstanding foreign currency forward exchange contracts at September 30, 2024.
Interest Rates
6 unchanged sentences
Market risk is the adverse effect on the value of a financial instrument that results from a change in interest rates.
−Removed: The Company had no outstanding interest rate swaps at June 30, 2024.
+Added: The Company had no outstanding interest rate swaps at September 30, 2024.
Investment Risk
Equity Price Risk
−Removed: The Company had no equity securities at June 30, 2024.
+Added: The Company had no equity securities at September 30, 2024.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.