Why re-derive every number every month (no data locks)?
GSA re-sources and re-derives every number — production, AISC, NAV, peer percentiles, share count — from current filings on every monthly refresh, carrying nothing forward, because a number that looks current only because its date is current is the most dangerous artifact in junior-miner analysis.
Carried-forward numbers go confidently wrong: the target looks intact while the arithmetic under it — most often the fully-diluted share count — has quietly moved.
Re-derivation is not re-stating: the inputs are rebuilt and the target falls out last, never carried first; the share count is the input most likely to have jumped since last cycle.
Re-derivation as a cohort is what makes peer percentiles coherent — every comparable scored under the same framework in the same month.
Worked example
- WDO.TO — one of five public pages each rebuilt by the same monthly refresh — the numbers are this month’s, re-derived. Visible proof of the principle.