sure there is...the streams were sold at a lower gold price environment...thus non-cash losses for current shareholders as gold prices go up have to be accounted for.
the warrents have strike prices well in the money at up to 50% below current share prices...thus non-cash losses for current shareholders
My accountant buddy explained it to me, BAA when they signed the gold forward agreements to sell gold at a specific price which is now lower than the current price causes these transactions to "create a loss" because we theoritically could have sold the gold higher.
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