As indicated in note 2(d) the Company’s sales create exposure to changes in the market prices of copper and molybdenum which are considered embedded derivatives. As of December 31, 2024 and 2023, information about the Company’s embedded derivatives is as follows: | | | | | | | | | | | | | | | | | | As of December 31, 2024 | | | | Pounds | | | | Provisional | | | | | | | | payable | | Maturity | | pricing | | Forward pricing | | Fair value | | | | (000) | | | | US$/Pound | | US$/Pound | | US$(000) | | | | | | | | | | | | | | Copper Concentrate | | 182,734 | | January to May 2025 | | Between 4.015 and 4.410 | | Between 3.934 and 3.998 | | (33,125) | | Copper Cathode | | 1,764 | | January 2025 | | 4.011 | | 3.934 | | (136) | | Molybdenum | | 5,912 | | January to April 2025 | | Between 18.630 and 19.279 | | 18.546 | | (2,885) | | | | Ounces
payable | | Maturity | | Provisional pricing | | Forward pricing | | Fair value | | | | (000) | | | | US$/Ounces | | US$/Ounces | | US$(000) | | Silver | | 725 | | January to May 2025 | | Between 29.792 and 32.836 | | Between 29.060 and 29.670 | | (1,458) | | | | | | | | | | | | | | | | | | | | | | | | (37,604) | |
| | | | | | | | | | | | | | | | | | As of December 31, 2023 | | | | Pounds | | | | | | | | | | | | payable | | Maturity | | Provisional pricing | | Forward pricing | | Fair value | | | | (000) | | | | US$/Pound | | US$/Pound | | US$(000) | | | | | | | | | | | | | | Copper Concentrate | | 231,774 | | January to May 2024 | | Between 3.588 and 3.840 | | Between 3.850 and 3.897 | | 34,581 | | Copper Cathode | | 5,072 | | January 2024 | | 3.869 | | 3.850 | | (95) | | Molybdenum | | 2,173 | | January to February 2024 | | Between 15.251 and 17.803 | | 17.395 | | 2,384 | | | | | | | | | | | | | | | | Ounces | | | | | | | | | | | | payable | | Maturity | | Provisional pricing | | Forward pricing | | Fair value | | | | (000) | | | | US$/Ounces | | US$/Ounces | | US$(000) | | Silver | | 757 | | January to May 2024 | | Between 21.568 and 24.910 | | Between 23.910 and 24.370 | | 565 | | | | | | | | | | | | | | | | | | | | | | | | 37,435 | |
Embedded derivative adjustments are recorded on the statements of financial position in “Trade account receivable – related parties.”
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