v3.26.1
Consolidated statements of cash flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
(Loss) / Profit for the year $ (79,340) $ (30,271) $ 31,880
Items adjusting loss of the year 570,757 304,934 103,667
Changes in working capital (31,240) (12,342) 2,612
Income tax and social contribution paid (84,829) (18,518) (13,442)
Other current and non-current assets and liabilities (70,164) (21,567) 229
Net cash generated by operating activities 305,184 222,236 124,946
Cash flows from investing activities      
Purchase of property, plant and equipment (179,434) (180,577) (96,094)
Short term investment 5,417 600
Acquisition of investment – Bluestone Inc., net of cash acquired (18,538) (1,244)
-Acquisition of investment – Altamira Gold Corp (3,870) (2,167)
Acquisition of investment - Mineração Serra Grande, net of cash acquired (52,135)  
Cash from acquired subsidiary included in the consolidation 3,727
Net cash used in investing activities (253,977) (176,404) (93,934)
Cash flows from financing activities      
Proceeds received from loans and debentures 314,345 179,550
Proceeds received from NSR Royalty agreement 21,000
Repayment of loans and debentures (62,831) (184,385) (66,273)
Derivative settlement- debt swap agreements 10,785 2,090 13,430
Derivatives fees (13,522)
Interest paid on loans and debentures (47,255) (36,037) (25,494)
Payment from liability (NSR agreement) (3,630) (2,532)
Principal payments of lease liabilities (12,688) (13,285) (13,395)
Interest payments of lease liabilities (3,294) (3,917)
Repayment of other liabilities (2,025) (1,699) (1,452)
Payment of dividends (115,814) (42,693) (28,161)
Acquisition of treasury shares (351) (13,361)
Proceeds from exercise of stock options 199 194 229
Net Proceeds from Nasdaq IPO 200,116
Net cash generated by (used in) financing activities (36,788) 5,198 79,434
Increase in cash and cash equivalents 14,419 51,030 110,446
Effect of foreign exchange gain (loss) on cash equivalents 1,448 (18,136) (1,052)
Cash and cash equivalents, beginning of the year 270,189 237,295 127,901
Cash and cash equivalents, end of the year $ 286,056 $ 270,189 $ 237,295