Subsequent Events |
12 Months Ended |
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Dec. 31, 2024 | |
SUBSEQUENT EVENTS | |
Subsequent Events | NOTE 19– SUBSEQUENT EVENTS
The Company has evaluated events from December 31, 2024, through the date whereupon the consolidated financial statements were issued, and has described below the events subsequent to the end of the period:
In September 2024, the Company entered into a commodity pricing contract through its major purchaser. The Company used a forward contract to lock in the price of recoverable gold from its deliveries of gold concentrates. The contract was for 75% of recoverable up to 9,000 ounces, at a price of $2,495 per ounce. This means that if the price of gold decreases, the Company will still receive amounts based on the contract price. In March 2025, the Company fulfilled its delivery obligations under the commodity pricing contract. |