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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating activities    
Net income (loss) for the year $ 28,884 $ (106,027)
Adjustments for:    
Depreciation and depletion 216,121 188,837
Finance expense 60,201 40,352
Share of net loss of associates 17,465 6,178
Change in fair value of derivatives (31,563) 53,834
Settlements of derivatives 33,651 (31,837)
Net gain on sale of partial interest and reclassification of investment in i-80 Gold Corp. (“i-80 Gold”) (34,467) 0
Expected credit losses and write-offs 13,802 446
Unrealized foreign exchange loss 9,439 12,612
Net loss on disposals and write-downs of assets 328 12,232
Income tax (recovery) expense (14,116) 7,620
Income taxes paid (13,567) (22,124)
Prepayments from gold sale contracts 225,000 0
Other 16,272 (17,830)
Operating cash flow before changes in non-cash working capital 527,450 144,293
Changes in non-cash working capital (168,987) (87,820)
Cash provided by (used in) operating activities 358,463 56,473
Investing activities    
Expenditures on mineral properties, plant and equipment (523,298) (557,074)
Purchases of marketable securities (8,927) (7,421)
Proceeds from dispositions of marketable securities 53,359 92,021
Net proceeds from sale of partial interest in i-80 Gold 22,846 0
Investment in associate 0 (3,343)
Net proceeds on disposals of assets 0 53,245
Other (6,654) 3,570
Cash provided by (used in) investing activities (462,674) (419,002)
Financing activities    
Draw down on revolving credit facility 253,667 299,800
Proceeds from issuance of convertible notes 172,500 0
Repayment of loans and borrowings (293,000) (13,333)
Interest paid (64,824) (33,590)
Lease payments (34,720) (23,849)
Net proceeds from issuance of shares 40,769 7,219
Proceeds from exercise of warrants and stock options 3,465 11,488
Proceeds from other financing activities 23,131 9,600
Transaction costs and other (8,490) (3,024)
Cash provided by (used in) financing activities 92,498 254,311
Effect of foreign exchange on cash and cash equivalents 2,939 (1,086)
Decrease in cash and cash equivalents (8,774) (109,304)
Cash and cash equivalents – beginning of year 200,769 310,073
Cash and cash equivalents – end of year $ 191,995 $ 200,769