v3.26.1
Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Operating activities:        
Net income for the period $ 2,005 $ 20,977 $ 30,475 $ 30,428
Items not affecting cash:        
Depreciation, depletion and amortization 7,796 5,439 15,093 10,016
Other income 1,470 916 2,700 1,231
Loss on change in fair value of consideration payable 15,788 1,034 14,823 2,979
Share-based compensation expense 619 1,349 1,148 1,508
Foreign exchange gain (5,144) 2,207 (10,681) (20,038)
Gain on change in estimate of decommissioning provisions (6,505) (6,505)
Income tax expense 36,067 1,064 52,506 20,770
Operating cash flows before non-cash working capital 52,096 32,986 99,559 46,894
Changes in non-cash working capital:        
Trade and other receivables (11,065) (478) (21,785) 49,492
Inventories (17,053) (1,081) (14,359) (5,290)
Prepaid expenses and deposits (9,326) (3,718) (3,077) (2,696)
Trade payables and accrued liabilities (3,101) 3,443 (8,350) (5,655)
Deferred revenue 12,426 12,426
Current income taxes payable (3,682) (264) (35,215) (32,082)
Other liabilities (4,917) 5,735 (5,004) (11,413)
Decommissioning and restoration provision (12) (3,752) (55) (90)
Net cash generated by operating activities 15,366 32,871 24,140 39,160
Investing activities:        
Expenditures on mineral properties, plant and equipment (6,513) (4,809) (16,371) (12,084)
Proceeds on disposition of mineral properties, plant and equipment 82 (118) 82 312
Purchases of marketable securities (5,736) (22,621) (12,786) (22,621)
Maturities of marketable securities 5,479 4,926 12,529 4,926
Payment of consideration payable for acquisition of Sinchi Wayra (7,500) (17,500)
Net cash used in investing activities (6,688) (30,122) (16,546) (46,967)
Financing activities:        
Proceeds from exercise of options 475 1,102
Proceeds from loans payable 30,622 10,502 54,969 44,057
Repayments of loans payable (32,051) (5,148) (56,662) (30,500)
Lease payments on plant and equipment (722) (834) (1,559)
Net cash provided by (used in) financing activities (954) 4,632 (1,425) 11,998
Effect of exchange rate on changes in cash 23 89 (38) 85
Net change in cash and cash equivalents 7,747 7,470 6,131 4,276
Cash and cash equivalents – beginning of period 42,651 32,527 44,267 35,721
Cash and cash equivalents – end of period 50,398 39,997 50,398 39,997
Interest expense 1,370 223 2,455 436
Income taxes $ 7,130 $ 3,628 $ 43,161 $ 22,865