Financial Instrument Risks and Risk Management (Tables)

12 Months Ended

Dec. 31, 2023

Contractual Maturities of Non-Derivative Liabilities

The following table summarizes the contractual maturities of the Company’s financial liabilities, and operating and capital purchase commitments at December 31, 2023:


	Within 1 year		1-2 years		2-3 years		3-4 years		4–5 years		Thereafter		Total
Trade payables and accrued liabilities	$	230,689	$	—	$	—	$	—	$	—	$	—	$	230,689
Loans and borrowings(1)(2)	207,072		198,622		570,300		8,308		180,830		—		1,165,132
Derivative liabilities	2,314		1,730		—		—		—		—		4,044
Lease liabilities(2)	30,109		12,180		6,390		4,944		1,455		92		55,170
Other financial liabilities(2)	6,745		13,156		7,510		7,403		7,296		3,570		45,680
Reclamation and closure costs(2)	15,660		13,689		19,337		20,220		16,374		129,580		214,860
Purchase commitments(2)	65,077		8,267		7,495		7,092		6,931		26,998		121,860
Other operating commitments(2)	37,855		20,392		21,208		22,056		22,939		10,883		135,333
Total	$	595,521	$	268,036	$	632,240	$	70,023	$	235,825	$	171,123	$	1,972,768

(1)Amounts include principal and interest payments, except accrued interest, which is included in accounts payable and accrued liabilities.

(2)Amounts represent undiscounted future cash flows.

Contractual Maturities of Derivative Liabilities

The following table summarizes the contractual maturities of the Company’s financial liabilities, and operating and capital purchase commitments at December 31, 2023:


	Within 1 year		1-2 years		2-3 years		3-4 years		4–5 years		Thereafter		Total
Trade payables and accrued liabilities	$	230,689	$	—	$	—	$	—	$	—	$	—	$	230,689
Loans and borrowings(1)(2)	207,072		198,622		570,300		8,308		180,830		—		1,165,132
Derivative liabilities	2,314		1,730		—		—		—		—		4,044
Lease liabilities(2)	30,109		12,180		6,390		4,944		1,455		92		55,170
Other financial liabilities(2)	6,745		13,156		7,510		7,403		7,296		3,570		45,680
Reclamation and closure costs(2)	15,660		13,689		19,337		20,220		16,374		129,580		214,860
Purchase commitments(2)	65,077		8,267		7,495		7,092		6,931		26,998		121,860
Other operating commitments(2)	37,855		20,392		21,208		22,056		22,939		10,883		135,333
Total	$	595,521	$	268,036	$	632,240	$	70,023	$	235,825	$	171,123	$	1,972,768

(1)Amounts include principal and interest payments, except accrued interest, which is included in accounts payable and accrued liabilities.

(2)Amounts represent undiscounted future cash flows.

Exposure to Currency Risk

The following table summarizes the Company’s exposure to currency risk arising from financial assets and financial liabilities, excluding foreign exchange contracts, denominated in foreign currencies:


At December 31, 2023	BRL		MXN		CAD		USD
Financial assets
Cash and cash equivalents	$	14,903	$	281	$	8,434	$	14,494
Marketable securities	—		—		92,666		—
Derivative assets	—		—		89		—
Restricted cash	5,212		—		—		1,745
Other financial assets	2,928		—		1,849		3,669
Financial liabilities
Accounts payable and accrued liabilities	(69,909)		(38,291)		(11,731)		(6,101)
Derivative liabilities	(4,420)		—		(168)		—
Lease liabilities	(14,713)		(57)		(783)		(11,113)
Other financial liabilities	—		—		—		(31,070)
	$	(65,999)	$	(38,067)	$	90,356	$	(28,376)
At December 31, 2022
Financial assets
Cash and cash equivalents	$	9,088	$	244	$	48,357	$	7,036
Marketable securities	—		—		36,867		—
Derivative assets	—		—		29,154		—
Restricted cash	5,550		—		—		1,740
Other financial assets	—		—		5,028		—
Financial liabilities
Accounts payable and accrued liabilities	(61,946)		(28,234)		(9,233)		(11,677)
Derivative liabilities	—		—		(695)		—
Lease liabilities	(6,226)		(131)		(231)		(2,298)
Other financial liabilities	—		—		—		(10,597)
	$	(53,534)	$	(28,121)	$	109,247	$	(15,796)

31. FINANCIAL INSTRUMENT RISKS AND RISK MANAGEMENT (CONTINUED)

(c)Market risk (continued)

(ii)Foreign currency risk (continued)

Based on the above foreign currency denominated financial assets and financial liabilities at December 31, 2023, excluding the effect of foreign exchange contracts, the reasonably possible weakening in foreign currencies against the USD and the USD against CAD at such date, assuming all other variables remained constant, would have resulted in the following increase (decrease) in the Company’s net income during the year ended December 31, 2023:


	2023
BRL – 10%	$	4,818
MXN – 20%	5,558
CAD – 10%	(6,596)
USD – 10%	2,302