v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash Flows from Operating Activities    
Income (loss) for the year $ 266,906 $ (67,790)
Adjustments for:    
Amortization and depreciation 115,707 87,410
Income tax expense (recovery) 64,050 (7,651)
Amortization of deferred revenue (14,003) (18,310)
Share-based compensation 24,580 9,983
Finance income (5,377) (4,300)
Finance expenses 33,360 17,089
Foreign exchange (gain) loss (90,136) 159,210
Write-downs (reversals of write-downs) of property, plant and equipment 0 12,051
Other 12,224 8,318
Changes in non-cash working capital items (51,735) (48,344)
Cash flows from operations 355,576 147,666
Advances from customers 50,000 22,654
Derivative contract settlements (2,972) (10,833)
Provision settlements (5,608) (5,870)
Income taxes paid (1,860) (8,198)
Cash flows from operating activities 395,136 145,419
Cash Flows used in Investing Activities    
Additions to mineral properties, plant and equipment (262,753) (328,957)
Additions to exploration and evaluation assets (19,686) (8,629)
Proceeds from interest received 3,850 2,202
Cash flows used in investing activities (278,589) (335,384)
Cash Flows used in Financing Activities    
Lease liability payments (17,973) (14,216)
New loans and borrowings, net of transaction costs 57,404 213,268
Loans and borrowings repaid (54,740) (39,950)
Interest paid on loans and borrowings (42,736) (32,166)
Other finance expenses paid (8,933) (4,135)
Proceeds from exercise of stock options 7,249 8,358
Cash flows (used in)/from financing activities (59,729) 131,159
Effect of exchange rate changes on cash and cash equivalents (1,778) (2,530)
Net increase (decrease) in cash and cash equivalents 55,040 (61,336)
Cash and cash equivalents - beginning of year 50,402 111,738
Cash and cash equivalents - end of year $ 105,442 $ 50,402