v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Dec. 31, 2024
Current assets:      
Cash and cash equivalents $ 587,550 $ 241,558 $ 26,868
Accounts receivable:      
Trade 215,534 170,230 31,515
Other, net 26,615 12,019 11,107
Inventories:      
Product inventories 24,208 26,518 21,230
Materials and supplies 56,128 55,169 50,105
Current investments 19,568 59,644 0
Other current assets 28,038 23,421 24,558
Assets of discontinued operations 0 40,785 48,769
Total current assets 957,641 629,344 214,152
Non-current investments 158,481 47,842 33,897
Restricted cash and cash equivalents 1,172 1,174 1,177
Properties, plants, equipment and mine development, net 2,123,209 2,130,581 2,066,422
Operating lease right-of-use assets 18,435 8,859 7,544
Other non-current assets 117,355 31,901 29,361
Assets of discontinued operations 0 710,944 628,507
Total assets 3,376,293 3,560,645 2,981,060
Inventories: Concentrates, dore, and stockpiled ore 24,208 26,518 21,230
Long-lived assets 2,123,209 2,130,581 2,066,422
Current liabilities:      
Accounts payable and accrued liabilities 97,855 77,592 62,503
Accrued payroll and related benefits 13,592 30,228 16,591
Accrued taxes 44,891 18,544 6,312
Current debt   0 33,617
Finance leases 3,601 4,262 5,510
Accrued reclamation and closure costs 12,402 13,795 13,748
Accrued interest 2,906 7,678 14,316
Current derivative liabilities 15,073 37,181 2,368
Other current liabilities 3,529 1,926 1,730
Liabilities of discontinued operations 0 40,358 41,143
Total current liabilities 193,849 231,564 197,838
Accrued reclamation and closure costs 114,002 112,491 94,157
Long-term debt including finance leases 262,646 263,171 501,195
Deferred tax liability 194,069 157,585 60,073
Other non-current liabilities 40,914 33,912 11,793
Liabilities of discontinued operations 0 170,276 76,490
Total liabilities 805,480 968,999 941,546
Finance leases 3,601 4,262 5,510
Commitments and contingencies (Notes 5, 6, 9, 10, 14, 15, and 16)
STOCKHOLDERS' EQUITY      
Preferred stock, 5,000,000 shares authorized: Series B preferred stock, $0.25 par value, 2025 - 153,956 shares issued and outstanding and 2024 - 157,756 shares, liquidation preference - $7,698 39 39 39
Common stock, $0.25 par value, authorized 1,250,000,000 shares; issued 2025 - 679,220,408 shares and 2024 - 640,547,918 shares 169,779 169,689 160,052
Capital surplus 2,647,282 2,643,211 2,418,149
Accumulated deficit (203,819) (182,143) (493,529)
Accumulated other comprehensive loss, net (5,491) (3,334) (10,266)
Less treasury stock, at cost; 2025 - 8,920,348 and 2024 - 8,813,127 shares issued and held in treasury (36,977) (35,816) (34,931)
Total stockholders’ equity 2,570,813 2,591,646 2,039,514
Total liabilities and stockholders’ equity $ 3,376,293 $ 3,560,645 $ 2,981,060