Rocky; I copied the following off of page F-9 of the '08 Annual Report. It seems to list requirements prior to claiming revenue gain might sometimes not be completed for some time. I don't know.
"Revenue Recognition: Pursuant to guidance in Staff Accounting Bulletin (“SAB”) No. 104, “Revenue
Recognition for Financial Statements”, revenue is recognized when persuasive evidence of an arrangement exists,
delivery has occurred, the price is fixed or determinable, no obligations remain and collectability is probable. The
passing of title to the customer is based on the terms of the sales contract. Product pricing is determined at the point
revenue is recognized by reference to active and freely traded commodity markets, for example the London Bullion
Market for both gold and silver, in an identical form to the product sold.
Under our concentrate sales contracts with third-party smelters, final gold and silver prices are set on a
specified future quotational period, typically one to three months, after the shipment date based on market metal
prices. Revenues and production costs applicable to sales are recorded on a gross basis under these contracts at the
time title passes to the buyer based on the forward price for the expected settlement period. The contracts, in
general, provide for a provisional payment based upon provisional assays and quoted metal prices. Final settlement
is based on the average applicable price for a specified future period, and generally occurs from three to six months
after shipment. Final sales are settled using smelter weights, settlement assays (average of assays exchanged and/or
umpire assay results) and are priced as specified in the smelter contract....."