​

​

Six months ended 30 June

US$ thousand

2025

2024

Finance income

Interest income

1,639

766

Realised gain on sale of investments

1,548

—

Foreign exchange gain

​

—

​

886

Total finance income

3,187

1,652

​

​

​

​

​

Finance costs

Interest expense under the effective interest rate method on:

– Loans and borrowings

(33,176)

(26,303)

– Lease liabilities

(446)

(725)

Debt extinguishment and modification costs

​

(12,469)

​

—

Unwinding of discount on rehabilitation provision

​

(412)

​

(532)

Commodity swap loss

​

(7,794)

​

(5,714)

Realised loss on warrants redemption

​

—

​

(148)

Realised loss on copper and silver streams

​

(145)

​

(29)

Foreign exchange loss

(575)

—

Total finance costs

(55,017)

(33,451)

​

​

​

​

​

Net change in fair value measurements of financial instruments

Change in fair value of:

– Warrant liability

(3,769)

(40,845)

– Equity instruments

​

750

​

(495)

– Embedded derivative – copper and silver streams

(20,848)

(27,598)

– Embedded derivative – mezzanine debt facility

—

185

– Contingent liability – royalty deed

​

(1,304)

​

(7,213)

– Contingent liability – copper consideration

​

(25,540)

​

(10,200)

– Commodity swap liability

​

(6,587)

​

(23,157)

Total net change in fair value of financial instruments

(57,298)

(109,323)

​

​

​

​

​

Net finance costs

(109,128)

(141,122)