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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating activities    
Net earnings (loss) $ 732.3 $ 847.8
Adjustments for:    
Depreciation expense 420.9 275.0
Impairment (reversal) charge 12.2 (455.5)
Gain on sale of Bambouk assets 0.0 (34.1)
Deferred revenue recognized (154.3) (235.7)
Income tax expense 237.5 129.4
Derivative (gain) loss 29.8 (20.4)
Finance costs 112.2 70.8
Other non-cash items 2.0 (60.2)
Adjustments for cash items:    
Proceeds from gold prepayment arrangement 0.0 119.3
Proceeds from insurance claim 0.0 27.3
Settlement of derivatives (2.6) (2.9)
Disbursements related to asset retirement obligations (14.1) (2.9)
Other 0.0 (2.1)
Movements in non-cash working capital items and non-current ore stockpiles (61.8) (114.4)
Cash from operating activities, before income taxes paid 1,314.1 541.4
Income taxes paid (171.5) (55.4)
Net cash from (used in) operating activities 1,142.6 486.0
Investing activities    
Capital expenditures for property, plant and equipment (293.5) (558.6)
Capitalized borrowing costs (34.6) (77.8)
Acquisitions of Northern Superior and Orbec (30.8) 0.0
Proceeds from sale of Bambouk assets 0.0 35.5
Other investing activities (19.4) 18.5
Net cash from (used in) investing activities (378.3) (582.4)
Financing activities    
Net proceeds from issuance of shares 3.9 287.5
Payment of repurchase option fee (50.0) 0.0
Dividends paid to non controlling interests (128.3) (18.0)
Net funding from (payment to) Sumitomo Metal Mining Co. Ltd. 0.0 (332.5)
Interest paid (64.6) (13.8)
Other financing activities (34.4) (59.9)
Net cash from (used in) financing activities (709.4) 83.3
Effects of exchange rate fluctuation on cash and cash equivalents 19.5 (7.0)
Increase (decrease) in cash and cash equivalents - all operations 74.4 (20.1)
Decrease (increase) in cash and cash equivalents - held for sale 0.0 0.5
Increase (decrease) in cash and cash equivalents 74.4 (19.6)
Cash and cash equivalents, beginning of the year 347.5 367.1
Cash and cash equivalents, end of the year 421.9 347.5
Credit facility    
Financing activities    
Proceeds from credit facility 130.0 280.0
Repayment of second lien term loan (150.0) (60.0)
Equipment loans    
Financing activities    
Repayment of second lien term loan $ (416.0) $ 0.0