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Embedded Derivatives
9 Months Ended
Sep. 30, 2020
Embedded Derivatives  
Embedded Derivatives

14. Embedded Derivatives

Concentrate sales contracts contain embedded derivatives due to the provisional pricing terms for unsettled shipments. At the end of each reporting period, the Company records an adjustment to accounts receivable and revenue to reflect the mark-to-market adjustments for outstanding provisional invoices based on metal forward prices. Please see Note 19 for additional information.

The following table summarizes the Company’s unsettled sales contracts as of September 30, 2020 with the quantities of metals under contract subject to final pricing occurring through November 2020:

Gold

Silver

Copper

Lead

Zinc

    

(ounces)

    

(ounces)

    

(tonnes)

    

(tonnes)

    

(tonnes)

Under contract

1,914

194,345

275

1,420

3,303

Average forward price (per ounce or tonne)

$

1,930

$

26.36

$

6,629

$

1,915

$

2,441