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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net earnings (loss) for the year $ 6,201 $ 13,955
Items not affecting cash:    
Share-based compensation 3,878 3,636
Depreciation, depletion and amortization 26,088 24,527
Impairment (reversal of impairment) of non-current assets, net 0 (16,791)
Deferred income tax expense (recovery) 12,372 12,252
Unrealized foreign exchange loss (gain) 344 (176)
Finance costs 1,300 985
Accretion of loans receivable (97) 0
Long term employee benefits 968 0
Write off of mineral properties 682 715
Write down of warehouse inventory 1,323 894
Write down of inventory to net realizable value 0 272
Loss (gain) on asset disposal (2,503) (5,914)
Loss (gain) on other investments 3,470 (2,117)
Net changes in non-cash working capital 967 (8,776)
Cash from operating activities 54,993 23,462
Investing activities    
Proceeds on disposal of property, plant and equipment 350 10,113
Mineral properties, plant and equipment (109,715) (54,092)
Purchase of other investments (2,119) (3,307)
Proceeds from disposal of other investments 0 9,288
Redemption of (investment in) non-current deposits 34 (8)
Cash used in investing activities (111,450) (38,006)
Financing activities    
Repayment of loans payable (5,054) (3,563)
Repayment of lease liabilities (219) (179)
Interest paid (790) (668)
Public equity offerings 46,001 59,998
Exercise of options 1,607 4,719
Share issuance costs (2,885) (1,293)
Performance and deferred share unit settlement (1,904) (2,363)
Cash from financing activities 36,756 56,651
Effect of exchange rate change on cash and cash equivalents (211) 113
Increase in cash and cash equivalents (19,701) 42,107
Cash and cash equivalents, beginning of the year 103,303 61,083
Cash and cash equivalents, end of the year $ 83,391 $ 103,303