v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating activities    
Net income for the year $ 221,471 $ 339,287
Adjustments for:    
Depreciation and depletion 517,516 222,616
Finance expense 185,678 95,381
Amortization of deferred revenue (158,063) (14,342)
Change in fair value of derivatives 113,964 123,289
Settlements of derivatives (85,080) (13,857)
Unrealized foreign exchange loss (gain) 21,149 (21,418)
Gain on remeasurement of previously held interest in the Greenstone Mine 0 (579,816)
Income tax expense 191,119 290,794
Income taxes paid (129,226) (19,602)
Other 36,575 7,866
Operating cash flow before changes in non-cash working capital 915,103 430,198
Changes in non-cash working capital (96,758) (58,014)
Cash provided by (used in) operating activities 818,345 372,184
Investing activities    
Expenditures on mineral properties, plant and equipment (692,346) (412,073)
Cash acquired on acquisition of Calibre Mining Corp. 193,107 0
Investment in Calibre Mining Corp. (40,000) 0
Net proceeds on disposal of assets 83,232 0
Proceeds from dispositions of marketable securities 3,023 48,191
Acquisition of Greenstone Mine 0 (744,110)
Other (5,689) (3,727)
Cash provided by (used in) investing activities (458,673) (1,111,719)
Financing activities    
Drawdowns on credit facility 85,000 560,000
Repayments of loans and borrowings (81,482) 0
Proceeds from other financing arrangements 21,621 57,346
Repayments of other financing arrangements (24,878) (7,296)
Interest paid (132,580) (112,647)
Lease payments (39,887) (29,494)
Net proceeds from shares issued in public offerings 0 335,562
Transaction costs and other 313 (10,996)
Cash provided by (used in) financing activities (171,893) 792,475
Effect of foreign exchange on cash and cash equivalents 2,896 (5,606)
Increase in cash and cash equivalents 190,675 47,334
Cash and cash equivalents – beginning of year 239,329 191,995
Cash and cash equivalents – end of year 430,004 239,329
Cash and cash equivalents classified as held for sale (22,649) 0
Cash and cash equivalents, excluding cash and cash equivalents held for sale $ 407,355 $ 239,329