XML 28 R6.htm IDEA: XBRL DOCUMENT v3.26.1
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Profit for the year $ 49,667,000 $ 96,379,000 $ 111,068,000
Adjustments to reconcile profit to net cash flows for:      
Income tax (benefit) expense (1,016,000) 145,792,000 103,441,000
Depreciation 117,190,000 130,659,000 120,934,000
Loss on disposal of property, plant and equipment 29,000 38,000 426,000
Impairment loss for non-financial assets 30,989,000 0 13,332,000
Write-off of unsuccessful exploration efforts 13,422,000 14,779,000 29,563,000
Interest and amortization of debt issue costs 49,298,000 31,088,000 30,839,000
Borrowings cancellation gain, net (3,917,000) 0 0
Amortization of other long-term liabilities (90,000) (107,000) (127,000)
Unwinding of long-term liabilities 4,780,000 5,153,000 6,456,000
Share-based payment expenses 4,467,000 6,274,000 7,328,000
Foreign exchange loss (gain) 10,065,000 (12,160,000) 19,729,000
Income tax paid [1] (96,870,000) (66,805,000) (115,626,000)
Changes in working capital (163,309,000) 119,941,000 (26,425,000)
Cash flows from operating activities - net 14,705,000 471,031,000 300,938,000
Investing activities      
Purchase of property, plant and equipment (98,358,000) (191,310,000) (199,040,000)
Acquisitions of business (115,518,000) 0 0
Unconsummated transaction in Argentina 38,000,000 (38,000,000) 0
Proceeds from divestment of long-term assets 20,381,000 2,455,000 450,000
Cash flows used in investing activities - net (155,495,000) (226,855,000) (198,590,000)
Financing activities      
Proceeds from borrowings 553,000,000 10,728,000 0
Debt issuance costs paid (5,034,000) 0 0
Principal paid (512,629,000) (731,000) 0
Interest paid (41,523,000) (27,736,000) (27,500,000)
Lease payments (5,733,000) (7,775,000) (10,267,000)
Repurchase of shares 0 (43,691,000) (31,239,000)
Cash distribution (24,203,000) (30,035,000) (29,715,000)
Cash flows used in financing activities - net (36,122,000) (99,240,000) (98,721,000)
Net (decrease) increase in cash and cash equivalents (176,912,000) 144,936,000 3,627,000
Cash and cash equivalents at January 1 276,750,000 133,036,000 128,843,000
Currency translation differences 480,000 (1,222,000) 566,000
Cash and cash equivalents at the end of the year 100,318,000 276,750,000 133,036,000
Cash and cash equivalents are comprised by:      
Cash in bank and bank deposits 100,317,000 276,739,000 133,023,000
Cash in hand 1,000 11,000 13,000
Cash and cash equivalents $ 100,318,000 $ 276,750,000 $ 133,036,000
[1] Includes self-withholding taxes for US$ 13,206,000, US$ 22,324,000, and US$ 35,116,000 in 2025, 2024 and 2023, respectively.