v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES        
Net loss $ (30,215) $ (41,005) $ (71,420) $ (60,705)
Adjustments        
Depletion, depreciation and amortization 951 693 1,694 1,450
Reclamation accretion expense 977 768 1,954 1,536
Share-based payments 1,809 611 2,502 1,141
Non-cash items included in other expense (income) 3,718 2,169 21,282 (2,236)
Loss on foreign exchange (299) (450) (178) (381)
Interest expense 7,843 8,312 16,047 16,342
Deferred tax expense 0 386 0 773
Reclamation expenditures (107) (238) (107) (238)
Other 14 (209) 47 (290)
Net change in operating assets and liabilities 3,974 4,404 (5,857) (7,174)
Cash used in operating activities (11,335) (24,559) (34,036) (49,782)
INVESTING ACTIVITIES        
Capital expenditures on property, plant and equipment (1,094) (521) (1,450) (1,223)
Disposal proceeds 0 425 0 425
Cash used in investing activities (1,094) (96) (1,450) (798)
FINANCING ACTIVITIES        
Proceeds from share issued 176,476 79,399 195,095 96,455
Stock option exercises 0 309 8 895
Finance fees paid (1,759) (750) (2,053) (950)
Contingent payments 0 (1,436) 0 (1,436)
Other (41) (39) (58) (164)
Cash provided by financing activities 132,695 59,379 151,011 76,696
Change in cash, cash equivalents and restricted cash during the period 120,266 34,724 115,525 26,116
Cash, cash equivalents and restricted cash, beginning of period 54,423 52,088 59,290 60,765
Effect of exchange rate changes on cash held 314 451 188 382
Cash, cash equivalents and restricted cash, end of period 175,003 87,263 175,003 87,263
Reconciliation of cash, cash equivalents, and restricted cash:        
Cash and cash equivalents 133,691 47,812 133,691 47,812
Restricted cash and cash equivalents 41,312 39,451 41,312 39,451
Total cash, cash equivalents, and restricted cash 175,003 87,263 175,003 87,263
Gold Prepay - gold price derivative        
FINANCING ACTIVITIES        
Principal repayments (30,989) (9,717) (30,989) (9,717)
Silver Purchase Agreement - silver price derivative        
FINANCING ACTIVITIES        
Principal repayments (10,992) (8,387) (10,992) (8,387)
Gold Prepay And Silver Purchase Agreement        
FINANCING ACTIVITIES        
Principal repayments (31,045) 0 (31,045) 0
Net proceeds $ 31,045 $ 0 $ 31,045 $ 0