v3.25.4
Other Financial Liabilities
 12 Months Ended
Dec. 31, 2025
Other Financial Liabilities [Abstract]  
Other Financial Liabilities
16.
Other Financial Liabilities
The following is a summary of other financial liabilities
as of December 31, 2025 and 2024:
(US$ thousands)
December 31,
2025
December 31,
2024
Collateralized financial liabilities payable to third-party financing
companies
$
—
$
4,898
Collateralized financial liabilities - Curragh Housing Transaction
21,195
20,959
Debt issuance costs
(883)
(988)
Total
other financial liabilities
20,312
24,869
Less: current portion
1,424
5,988
Other non-current financial liabilities
$
18,888
$
18,881
Collateralized financial liabilities – Curragh Housing Transaction
The Curragh
Housing Transaction
did not
satisfy the
sale criteria
under Accounting
Standards Codification,
or
ASC, 606
–
Revenues from
Contracts with
Customers
and was
deemed a
financing arrangement.
As a
result,
the
proceeds
of
$
23.0
million
(A$
34.6
million)
received
for
the
sale
and
leaseback
of
property,
plant
and
equipment
owned
by
the
Company
in
connection
with
the
Curragh
Housing
Transaction
were
recognized
as
“Other
Financial
Liabilities”
on
the
Company’s
Consolidated
Balance
Sheets.
The
term
of
the
financing
arrangement is
ten years
with an
effective interest
rate of
14.14
%. This
liability will
be settled
in equal
monthly
payments as part of the accommodation services arrangement.
The
Curragh
Housing
Transaction
provided
additional
liquidity
to
the
Company
and
enhanced
the
level
of
accommodation services
for our employees at our Curragh Mine.
In
connection
with
the
Curragh
Housing
Transaction,
the
Company
granted
the
counterparty
mortgages
over
certain
leasehold
and
freehold
land.
The
counterparty’s
rights
are
subject
to
a
priority
deed
in
favor
of
the
Company’s senior secured parties including,
but not limited to, the holders of the Notes and
Stanwell.
The carrying value
of this financial
liability, net of issuance costs
of $
0.9
million, was $
20.3
million as at
December
31, 2025, $
1.4
million of which is classified as a current liability.