v3.26.1
Note 9 - Derivative Instruments (Tables)
3 Months Ended
Mar. 31, 2026
Table Text Block [Abstract]  
Schedule of Foreign Exchange Contracts, Statement of Financial Position

As of March 31, 2026 and December 31, 2025, we recorded the following balances for the fair value of the foreign currency forward contracts (in millions):

 

 

 

March 31,

 

December 31,

Balance sheet line item:

 

2026

 

2025

Other current assets

 

$0.4

 

$1.1

Other current liabilities

 

(1.3)

 

(0.8)

Schedule of Notional Amounts of Outstanding Derivative Positions

The following tables summarize the quantities of metals committed under forward metals contracts at March 31, 2026 and December 31, 2025 and designated and accounted for as cash flow hedges:

March 31, 2026

 

Pounds under contract (in 000's)

 

 

Average price per pound

 

 

 

Zinc

 

 

Lead

 

 

Zinc

 

 

Lead

 

 

 

(pounds)

 

 

(pounds)

 

 

(pounds)

 

 

(pounds)

 

Contracts on provisional sales

 

 

 

 

 

 

 

 

 

 

 

 

2026 settlements

 

 

13,173

 

 

 

15,653

 

 

$

1.33

 

 

$

1.04

 

Contracts on forecasted sales

 

 

 

 

 

 

 

 

 

 

 

 

2026 settlements

 

 

40,234

 

 

 

24,912

 

 

$

1.32

 

 

$

1.00

 

2027 settlements

 

 

45,636

 

 

 

 

 

$

1.40

 

 

$

 

 

December 31, 2025

 

Pounds under contract (in 000's)

 

 

Average price per ounce/pound

 

 

 

Zinc

 

 

Lead

 

 

Zinc

 

 

Lead

 

 

 

(pounds)

 

 

(pounds)

 

 

(pounds)

 

 

(pounds)

 

Contracts on provisional sales

 

 

 

 

 

 

 

 

 

 

 

 

2026 settlements

 

 

18,850

 

 

 

13,117

 

 

$

1.37

 

 

$

1.05

 

Contracts on forecasted sales

 

 

 

 

 

 

 

 

 

 

 

 

2026 settlements

 

 

53,407

 

 

 

42,108

 

 

 

1.33

 

 

 

1.02

 

2027 settlements

 

 

23,810

 

 

 

 

 

 

1.36

 

 

N/A

 

 

The following table summarize the quantities of silver and gold ounces committed under collars at March 31, 2026.

 

Settlement Period

 

Ounces under contract (in 000's)

 

 

Average strike price per silver ounce

 

 

Average strike price per gold ounce

 

 

 

Silver (ounces)

 

 

Gold (ounces)

 

 

Minimum ($)

 

 

Maximum ($)

 

 

Minimum ($)

 

 

Maximum ($)

 

Contracts on provisional sales

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2026 settlements

 

 

400

 

 

 

1

 

 

 

48.67

 

 

 

75.71

 

 

 

5,125.00

 

 

 

5,425.00

 

Contracts on forecasted sales

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2026 settlements

 

 

350

 

 

 

 

 

 

35.33

 

 

 

58.25

 

 

 

 

 

 

 

The following table summarizes the quantities of metals for which we have entered into put contracts and the strike price as of March 31, 2026:

 

Settlement Period

 

 

 

Production Protected (in 000's)

 

 

Strike price per ounce

 

 

 

 

 

Silver (ounces)

 

 

($)

 

Contracts on forecasted sales

 

 

 

 

 

 

 

 

2026 settlements

 

 

 

 

10,000

 

 

 

50.00

 

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

We recorded the following balances for the fair value of the forward metals, Collars and put contracts as of March 31, 2026 and December 31, 2025 (in millions):

 

 

March 31,

 

 

December 31,

 

Balance sheet line item:

 

2026

 

 

2025

 

Other current assets

 

$

16.2

 

 

$

8.6

 

Other non-current assets

 

 

0.2

 

 

 

7.2

 

Other current liabilities

 

 

(13.8

)

 

 

(36.4

)

Other non-current liabilities

 

 

(1.5

)

 

 

(1.9

)