XML 114 R44.htm IDEA: XBRL DOCUMENT v3.22.1
Corporate Transactions (Tables)
 12 Months Ended
Dec. 31, 2021
Corporate Transactions [Abstract]  
Disclosure of Detailed Information about Consideration Paid
The acquisition-date fair value of the consideration transferred consisted of the following:
Share consideration(1)
$399,613 
Option consideration(2)
8,155 
Warrant consideration(3)
505 
Total consideration
$408,273 
(1)The fair value of 47,373,723 common shares issued to Premier shareholders was determined using the Company’s share price of C$10.64 ($8.44) per share on the acquisition date.
(2)The fair value of 2,813,747 replacement options issued was determined using the Black-Scholes option pricing model with the following weighted average assumptions: exercise price of C$7.27, share price of C$10.64, expected life of 2.07 years, expected volatility of 41.30%, dividend yield of 0.0%, and discount rate of 0.37%.
(3)The fair value of 393,400 replacement warrants issued was determined using the Black-Scholes option pricing model with the following weighted average assumptions: exercise price of C$10.42, share price of C$10.64, expected life of 0.82 years, expected volatility of 39.7%, dividend yield of 0.0%, and discount rate of 0.15%.
The acquisition-date fair value of the consideration transferred consisted of the following:
Share consideration(1)
$732,042 
Option consideration(2)
19,777 
Warrant consideration(3)
8,543 
PSU and DSU consideration(4)
3,721 
Total consideration$764,083 
(1)The fair value of 94,635,765 common shares issued to Leagold shareholders was determined using the Company’s share price of C$10.51 ($7.74) per share on the acquisition date.
(2)The fair value of 5,728,647 replacement options issued was determined using the Black-Scholes option pricing model with the following weighted average inputs and assumptions: exercise price of C$7.77, share price of C$10.51, expected life of 2.07 years, expected volatility of 60.2%, dividend yield of 0.0%, and discount rate of 0.54%.
(3)The fair value of 16,626,569 replacement warrants issued was determined using the Black-Scholes option pricing model with the following weighted average inputs and assumptions: exercise price of C$11.14, share price of C$10.51, expected life of 0.32 years, expected volatility of 44.1%, dividend yield of 0.0%, and discount rate of 0.69%.
(4)The fair values of 369,919 replacement PSUs and 319,288 replacement DSUs issued were determined using the Leagold share price of C$3.49 ($2.57) on the acquisition date, adjusted for the 0.331 exchange ratio.
Disclosure of Detailed Information about Business Combination The table below presents the fair values of the assets acquired and liabilities assumed at the date of acquisition.
Assets (liabilities) acquired
Cash and cash equivalents
$8,267 
Trade and other receivables
13,165 
Inventories
11,987 
Restricted cash8,333 
Mineral properties, plant and equipment
576,803 
Investment in associate
79,001 
Other assets
4,399 
Accounts payable and accrued liabilities
(18,002)
Loans and borrowings and accrued interest
(17,649)
Stream arrangement
(40,369)
Reclamation and closure cost provisions
(13,481)
Deferred tax liabilities
(121,931)
Other liabilities
(818)
Fair value of net assets acquired
$489,705 
The total cost of acquisition was allocated to the assets acquired and liabilities assumed as follows:
Assets (liabilities) acquired
Cash and cash equivalents
$95 
Trade and other receivables
21 
Restricted cash
1,043 
Mineral properties, plant and equipment
59,078 
Other assets
10 
Accounts payable
(287)
Other liabilities
(27)
Net assets acquired
$59,933 
The following presents the fair values of the assets acquired and liabilities assumed:
Assets (liabilities) acquired
Cash and cash equivalents$55,252 
Trade and other receivables33,524 
Inventories150,078 
Mineral properties, plant and equipment1,318,785 
Other assets21,432 
Accounts payable and accrued liabilities(88,896)
Loans and borrowings and accrued interest(323,870)
Derivative liabilities(78,526)
Reclamation and closure cost provision(62,238)
Deferred tax liabilities(230,458)
Other liabilities(31,000)
Fair value of net assets acquired$764,083