Investment in Affiliate (Tables) - LOS GATOS JOINT VENTURE

3 Months Ended

Mar. 31, 2022


	March 31,		December 31,
	2022		2021
ASSETS
Current Assets
Cash and cash equivalents	$	41,231	$	20,280
Receivables		19,396		11,263
Inventories		12,156		11,062
VAT receivable		31,845		46,242
Other current assets		9,434		4,515
Total current assets		114,062		93,362
Non‑Current Assets
Mine development, net		232,950		229,076
Property, plant and equipment, net		192,940		190,896
Net deferred tax assets		21,623		9,226
Total non‑current assets		447,513		429,198

Total Assets	$	561,575	$	522,560

LIABILITIES AND OWNERS' CAPITAL

Current Liabilities
Accounts payable and accrued liabilities	$	35,854	$	33,179
Related party payable		632		1,609
Accrued interest		27		51
Income taxes		9,965		6,315
Equipment loans		3,855		5,534
Unearned Revenue		—		1,714
Total current liabilities		50,333		48,402

Non‑Current Liabilities
Equipment loans		204		478
Lease liability		313		—
Reclamation obligations		14,982		14,706
Total non‑current liabilities		15,499		15,184

Owners' Capital
Capital contributions		540,638		540,638
Paid‑in capital		18,219		18,370
Accumulated deficit		(63,114)		(100,034)
Total owners' capital		495,743		458,974
Total Liabilities and Owners' Capital	$	561,575	$	522,560


	Three Months Ended
	March 31,
	2022		2021
Revenue	$	87,608	$	46,330

Expenses
Cost of sales		25,088		19,805
Royalties		1,494		884
Exploration		2,121		649
General and administrative		2,820		3,246
Depreciation, depletion and amortization		16,342		10,949
Total operating expenses		47,865		35,533
Other expense
Interest expense		91		2,117
Accretion expense		276		228
Other income		(1,339)		(30)
Foreign exchange (gain) loss		(691)		1,630
Total other (income) expense		(1,663)		3,945

Income before income and mining taxes		41,406		6,852

Income and mining tax expense		(4,486)		—

Net income	$	36,920	$	6,852