v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases
10.
Leases
During the
six months ended
June 30, 2026,
the Company
entered into a number
of
agreements to lease
mining
equipment.
Based
on
the
Company’s
assessment
of
terms
within
these
agreements,
the
Company
classified
these
leases as
operating leases.
On mobilization
of
these leased
mining
equipment,
the Company
recognized
right-of-use
assets
and operating
lease liabilities
of
$
21.8
million.
Information
related to
the Company’s
right-of-use
assets
and related
lease liabilities
are as follows:
Three months ended
Six months ended
(in US$ thousands)
June 30, 2026
June 30, 2025
June 30, 2026
June 30, 2025
Operating lease
costs
$
10,707
$
9,008
$
19,887
$
17,325
Cash paid
for
operating
lease liabilities
8,578
5,968
15,437
11,532
Finance lease
costs:
Amortization
of
right-of-use
assets
1,095
599
2,163
732
Interest on
lease liabilities
648
421
1,328
459
Total
finance
lease costs
$
1,743
$
1,020
$
3,491
$
1,191
(in US$ thousands)
June 30,
2026
December 31,
2025
Assets
Operating leases:
Operating lease
right-of-use
assets
$
94,872
$
86,481
Finance leases:
Property
and equipment
37,083
36,133
Accumulated
depreciation
(5,132)
(2,721)
Property
and equipment,
net
31,951
33,412
Liabilities
Current operating
lease obligations
34,558
26,348
Operating lease
liabilities,
less current portion
67,171
66,493
Total
Operating
lease liabilities
101,729
92,841
Current finance
lease obligations
8,319
7,952
Finance lease
liabilities,
less current portion
15,039
17,373
Total
Finance
lease liabilities
23,358
25,325
Current lease
obligation
42,877
34,300
Non-current
lease obligation
82,210
83,866
Total
Lease liability
$
125,087
$
118,166
June 30,
2026
December 31,
2025
Weighted
Average
Remaining
Lease
Term
(Years)
Weighted
average
remaining lease
term – finance
leases
2.7
3.2
Weighted
average
remaining lease
term – operating
leases
2.9
3.3
Weighted
Average
Discount
Rate
Weighted
discount
rate – finance
lease
10.8%
10.8%
Weighted
discount
rate – operating
lease
10.4%
9.5%
The
Company’s
operating
and
finance
leases
have
remaining
lease
terms
of
one year
to
four years
,
some
of
which include
options
to extend the terms where
the Company
deems it is reasonably
certain
the options
will be
exercised.
Maturities of
lease liabilities
as at June
30, 2026, are as follows:
(in US$ thousands)
Operating
Lease
Finance
Lease
Year
ending
December
31,
2026
$
20,811
$
5,680
2027
40,463
9,190
2028
36,920
8,547
2029
19,372
3,488
Total
lease payments
117,566
26,905
Less imputed
interest
(15,837)
(3,547)
Total
lease liability
$
101,729
$
23,358