| PROPERTY, PLANT AND EQUIPMENT (“PP&E”) |
| 3. | PROPERTY, PLANT AND EQUIPMENT (“PP&E”) |
| | |
Developed properties | | |
Right-of-use assets | | |
Corporate assets | | |
Total | |
| Cost | |
| | |
| | |
| | |
| |
| Balance as at December 31, 2025 | |
$ | 1,313,717 | | |
$ | 3,982 | | |
$ | 1,127 | | |
$ | 1,318,826 | |
| Additions | |
| 47,382 | | |
| 3,240 | | |
| 814 | | |
| 51,436 | |
| Transfers of right-of-use assets | |
| 1,995 | | |
| (1,995 | ) | |
| - | | |
| - | |
| Change in decommissioning liabilities | |
| 204 | | |
| - | | |
| - | | |
| 204 | |
| Balance as at March 31, 2026 | |
| 1,363,298 | | |
| 5,227 | | |
| 1,941 | | |
| 1,370,466 | |
| Accumulated Depletion, Depreciation and Amortization | |
| | | |
| | | |
| | | |
| | |
| Balance as at December 31, 2025 | |
| 327,145 | | |
| 916 | | |
| 671 | | |
| 328,732 | |
| Depletion and depreciation (1) | |
| 20,229 | | |
| 219 | | |
| 61 | | |
| 20,509 | |
| Balance as at March 31, 2026 | |
| 347,374 | | |
| 1,135 | | |
| 732 | | |
| 349,241 | |
| Net Book Value | |
| | | |
| | | |
| | | |
| | |
| Balance as at December 31, 2025 | |
$ | 986,572 | | |
$ | 3,066 | | |
$ | 456 | | |
$ | 990,094 | |
| Balance as at March 31, 2026 | |
$ | 1,015,924 | | |
$ | 4,092 | | |
$ | 1,209 | | |
$ | 1,021,225 | |
| (1) | As at March 31, 2026, $0.8 million of depletion and depreciation
was capitalized to inventory (December 31, 2025 - $1.0 million). |
|