v3.26.1
CASH FLOW INFORMATION
 12 Months Ended
Dec. 31, 2025
Notes and other explanatory information [abstract]  
CASH FLOW INFORMATION

25       CASH FLOW INFORMATION

 

a)     Items adjusting profit (loss) of the year

 

                       
For the year ended December 31,   2025     2024     2023  
Deferred and current income tax expense     131,213       82,691       6,426  
Depreciation and amortization     70,952       62,732       48,528  
Accretion expense (Note 24)     5,090       5,972       4,954  
Lease Interest expense (Note 24)     4,231       9,144       7,120  
Interest expense on loans and debentures (Note 24)     25,913       22,063       12,464  
Finance cost on post-employment benefit (Note 24)     2,487       1,045       1,873  
Unrealized loss on derivatives gold collars (Note 24)     281,489       80,241       25,683  
Loss on other derivatives (Note 24)     5,997       4,707       2,888  
Foreign exchange (gain) loss (Note 24)     8,976       12,268       56  
Derivative fee (Note 24)     -       13,522       -  
Change in fair value in liability measured at fair value     12,716       (719 )     -  
Share-based payment expense (Note 22)     2,201       186       287  
(Gain) on fair value change of Serrote Promissory Note     (318 )     (1,253 )     (3,468 )
Loss on settlement of liability with equity instruments (Note 24)     8,763       -       -  
(Gain) on Joint Venture acquisition (Note 5)     -       -       (5,505 )
Loss on disposal of assets (Note 11)     1,669       4,888       724  
Other non-cash items     9,378       7,447       1,637  
Total     570,757       304,934       103,667  

 

b)     Changes in working capital

 

                       
For the year ended December 31,   2025     2024     2023  
                   
Increase in accounts receivables and value added taxes and other recoverable taxes     (13,704 )     (7,254 )     (9,190 )
Increase in inventory     (23,272 )     (12,080 )     (12,714 )
Increase in trade and other payables     5,736       6,992       24,516  
Total     (31,240 )     (12,342 )     2,612  

 

c)     Other current and non-current assets and liabilities

 

                       
For the year ended December 31,   2025     2024     2023  
                   
Changes in other current and non-current assets and liabilities consists of:                        
(Increase) / Decrease in other receivables and assets and inventories (non-current)     (57,017 )     124       9,717  
Increase in other receivables and assets (current)     (3,305 )     (6,117 )     1,628  
(Increase) in other liabilities (current and non-current)     (9,842 )     (15,574 )     (11,116 )
Total     (70,164 )     (21,567 )     229  

 

d)     Non-cash investing and financing activities consist of:

 

                 
For the year ended December 31,   2025     2024     2023  
Non-cash addition to property, plant and equipment     (25,610 )     (9,094 )     (6,108 )
Total     (25,610 )     (9,094 )     (6,108 )

 

e)     Debt reconciliation

 

Schedule of debt reconciliation                
    Loans and debentures     Derivatives  
Balance as of December 31, 2022     214,042       (8,119 )
                 
Changes from Financing cash flows:                
  Loan repayments     (66,273 )     -  
  Loan proceeds     179,550       -  
  Interest paid on loans *     (10,937 )     -  
  Interest paid on debentures *     (14,557 )     -  
  Derivative settlement     -       9,353  
                 
Other Changes:                
  Interest expenses on loans     13,767       -  
  Interest expenses on debentures     12,599       -  
  Derivative result     -       (8,184 )
  Foreign exchange adjustments     5,398       (7,019 )
  Derivative settlement (withholding taxes)     -       1,742  
  Fair value adjustment     -       1,098  
  Gold Hedges fair value adjustment     -       43,134  
Balance as of December 31, 2023     333,589       32,005  
Changes from Financing cash flows:                
  Loan and debentures repayments     (184,385 )     -  
  Loan proceeds     314,345       -  
  Interest paid on loans *     (25,414 )     -  
  Interest paid on debentures *     (10,623 )     -  
   Derivative gold collars settlement     -       (5,376 )
  Derivative settlement     -       2,090  
                 
Other Changes:                
  Interest expenses on loans     24,270       -  
  Interest expenses on debentures     11,018       -  
  Derivative result     -       (2,817 )
  Foreign exchange adjustments     (21,417 )     18,592  
  Derivative settlement (withholding taxes)     -       715  
  Swap fair value adjustment     -       5,678  
  Gold Hedges fair value adjustment     -       85,617  
  Other derivatives fair value adjustment     1,721       2,986  
Balance as of December 31, 2024     443,104       139,490  
Changes from Financing cash flows:                
  Acquisition of Bluestone     5,900       -  
  Loan and debentures repayments     (62,831 )     -  
  Interest paid on loans *     (21,782 )     -  
  Interest paid on debentures *     (25,473 )     -  
   Derivative gold collars settlement     -       (56,519 )
   Derivative settlement (other hedges)     -       (4,643 )
  Derivative settlement (debt swap agreements)     -       10,785  
                 
Other Changes:                
  Interest expenses on loans     20,251       -  
  Interest expenses on debentures     28,440       -  
  Derivative result     -       (15,558 )
  Foreign exchange adjustments     21,086       (20,347 )
  Derivative settlement (withholding taxes)     -       2,850  
  Swap fair value adjustment     -       2,689  
  Gold Hedges fair value adjustment     -       338,008  
  Other derivatives fair value adjustment     2,473       3,524  
Balance as of December 31, 2025     411,168       400,279  

 

* Interest payment on debts and debentures are being presented under financing activities in the Consolidated Statements of Cash Flow