explanation, page-5

CPDLC, I was about to post something similar however I'm still trying to work out 2012.

“Medusa is an un-hedged gold producer and received an average gold price of US$1,610 per ounce from the sale of 77,488 ounces of gold for the year.”
“Revenues US$100.7M”

If I multiply 77,488oz by US$1610, I get US$124.75mill which is much higher than $100.7mill although it matches close to the statement of cash flow “receipt from customers” $125.68mill.
I assumed the accounts for revenue are based on gold produced (62,243oz) for the year, not gold sold. If I use gold produced instead of gold sold I get revenue of 100.21.
Note 2 on revenue on pg 61 shows revenue from operating activities (not on gold sold) is 100.62mill. The difference is probably a rounding error. There was also 24k interest and some other minor revenue to bring the total up to $100.68mill. So I believe I understand all this for 2013.

However for 2012, gold produced was 60,595oz by US$1658 ave received price for 2012 equals $100.46mill. The 2012 annual report shows revenue of only $80.8mill. If I use 55,446oz gold sold, I get $91.9mill (statement of cash flows pg 75 has 92.5mill received from customers).

So cash receipts from customers looks good but the revenue for 2012 has me baffled.
Can you explain that one?