RE:RE:Q4 was a dismal failurekramaswamy, I completely agree. It can be difficult to pull the Q4 specific information out of the report. There should really be a report for Q4 and a separate report for all of 2020.
Of the $15M shortfall, some of the big hitters were:
- a $7.3 million mark-to-market loss on financial instruments. Fair value loss on financial instruments which is comprised of the warrant liability revaluation of $1.8 million and $4.2 million for the revaluation of the zinc forward swaps. This was $4M higher than I expected.
- Loss on foreign exchange $2M.
- The settlement mark-to-market gain was only $1.0M. This was $2M less than I expected.
I am so angry, that I do not even want to take the trouble to figure out where the other $7M went. I am going to just chalk it up to high mining costs.