v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases
12. Leases
During the year ended December 31,
2025, the Company entered into a
number of agreements to lease
mining
equipment.
On
mobilization,
based
on
the
Company’s
assessment
of
terms
within
these
arrangements,
the
Company recognized
ROU assets
and operating
lease liabilities
of $
15.5
million and
plant and
equipment and
finance lease liabilities of $
34.4
million and $
29.1
million, respectively.
Information related to the Company’s right-of
use assets and related lease liabilities is as follows:
Year ended December 31,
(US$ thousands)
2025
2024
Operating lease costs
$
34,982
$
28,619
Cash paid for operating lease liabilities
24,761
21,050
Finance lease costs:
Depreciation of property,
plant and equipment
2,634
73
Interest expense on finance lease liabilities
1,755
2
Total
finance lease costs
$
4,389
$
75
December 31,
(US$ thousands)
2025
2024
Assets:
Operating leases
Right of use asset – operating leases, net
$
86,481
$
90,143
Finance leases
Property, plant and
equipment
36,133
—
Accumulated depreciation
(2,721)
—
Property, plant and
equipment, net
33,412
—
Liabilities:
Current operating lease obligations
26,348
19,502
Non-current operating lease obligations
66,493
74,241
Total
operating lease liabilities
92,841
93,743
Current finance lease obligations
7,952
—
Non-current finance lease obligations
17,373
—
Total
finance lease liabilities
25,325
—
Current lease obligations
34,300
19,502
Non-current lease obligations
83,866
74,241
Total
lease obligations
$
118,166
$
93,743
December 31,
2025
2024
Weighted Average Remaining
Lease Term (Years)
Finance leases
3.2
-
Operating leases
3.3
4.3
Weighted Average Discount
Rate
Finance leases
10.8%
-
Operating leases
9.5%
9.3%
The Company’s leases
have remaining lease
terms of
one year
to
four years
, some of which
include options to
extend the terms where
the Company deems
it is reasonably certain
the options will be
exercised. Maturities of
lease liabilities as at December 31, 2025, are as follows:
(US$ thousands)
Operating
Lease
Finance
Lease
Total
Year ending
December 31,
2026
$
33,599
$
10,294
$
43,893
2027
32,204
8,954
41,158
2028
28,756
8,328
37,084
2029
13,162
3,399
16,561
Total
lease payments
107,721
30,975
138,696
Less imputed interest
(14,880)
(5,650)
(20,530)
Total
lease liability
$
92,841
$
25,325
$
118,166