Financial Instrument Risks and Risk Management (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024:


	Within 1 year		1-2 years		2-3 years		3-4 years		4–5 years		Thereafter		Total
Trade payables and accrued liabilities	$	241,030	$	—	$	—	$	—	$	—	$	—	$	241,030
Loans and borrowings(1)(4)	253,751		777,383		420,615		180,694		—		—		1,632,443
Derivative liabilities(2)	57,663		17,118		—		—		—		—		74,781
Lease liabilities(4)	31,700		25,088		19,110		12,786		4,470		9,763		102,917
Other financial liabilities(1)(3)(4)	28,368		27,952		27,774		26,764		19,795		8,015		138,668
Reclamation and closure costs(4)	14,475		29,436		18,371		11,329		8,255		143,490		225,356
Purchase commitments(4)	66,694		8,024		7,437		7,000		6,881		22,791		118,827
Other operating commitments(4)	25,777		26,808		27,880		28,995		1,063		12,694		123,217
Total	$	719,458	$	911,809	$	521,187	$	267,568	$	40,464	$	196,753	$	2,657,239

(1)Amounts for loans and borrowings in the above table include principal and interest payments, except accrued interest, which is included in trade payables and accrued liabilities.

(2)Derivative liabilities in the above table represent the fair values of the derivative instruments that are expected to be cash-settled.

(3)Other financial liabilities in the above table include the Equipment Facility (note 17(a)).

(4)Amounts included in the above table represent the 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, 2024:


	Within 1 year		1-2 years		2-3 years		3-4 years		4–5 years		Thereafter		Total
Trade payables and accrued liabilities	$	241,030	$	—	$	—	$	—	$	—	$	—	$	241,030
Loans and borrowings(1)(4)	253,751		777,383		420,615		180,694		—		—		1,632,443
Derivative liabilities(2)	57,663		17,118		—		—		—		—		74,781
Lease liabilities(4)	31,700		25,088		19,110		12,786		4,470		9,763		102,917
Other financial liabilities(1)(3)(4)	28,368		27,952		27,774		26,764		19,795		8,015		138,668
Reclamation and closure costs(4)	14,475		29,436		18,371		11,329		8,255		143,490		225,356
Purchase commitments(4)	66,694		8,024		7,437		7,000		6,881		22,791		118,827
Other operating commitments(4)	25,777		26,808		27,880		28,995		1,063		12,694		123,217
Total	$	719,458	$	911,809	$	521,187	$	267,568	$	40,464	$	196,753	$	2,657,239

(1)Amounts for loans and borrowings in the above table include principal and interest payments, except accrued interest, which is included in trade payables and accrued liabilities.

(2)Derivative liabilities in the above table represent the fair values of the derivative instruments that are expected to be cash-settled.

(3)Other financial liabilities in the above table include the Equipment Facility (note 17(a)).

(4)Amounts included in the above table represent the 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, 2024	CAD		BRL		MXN		USD
Financial assets
Cash and cash equivalents	$	10,730	$	33,228	$	1,758	$	—
Marketable securities	6,142		—		—		—
Derivative assets	81		—		—		—
Restricted cash	6,921		4,737		—		—
Other financial assets	6,657		3,611		—		—
Financial liabilities
Accounts payable and accrued liabilities	(38,043)		(61,877)		(32,922)		—
Derivative liabilities	—		(1,931)		—		—
Lease liabilities	(36,983)		(7,075)		—		—

	$	(44,495)	$	(29,307)	$	(31,164)	$	—
At December 31, 2023
Financial assets
Cash and cash equivalents	$	8,434	$	14,903	$	281	$	14,494
Marketable securities	92,666		—		—		—
Derivative assets	89		—		—		—
Restricted cash	—		5,212		—		1,745
Other financial assets	1,849		2,928		—		3,669
Financial liabilities
Accounts payable and accrued liabilities	(11,731)		(69,909)		(38,291)		(6,101)
Derivative liabilities	(168)		(4,420)		—		—
Lease liabilities	(783)		(14,713)		(57)		(11,113)
Other financial liabilities	—		—		—		(31,070)
	$	90,356	$	(65,999)	$	(38,067)	$	(28,376)

Based on the above foreign currency denominated financial assets and financial liabilities at December 31, 2024, excluding the effect of foreign exchange contracts, the reasonably possible weakening in foreign currencies against the USD, assuming all other variables remained constant, would have resulted in the following increase in the Company’s net income during the year ended December 31, 2024:


	2024
CAD – 10%	$	3,248
BRL – 10%	2,139
MXN – 10%	2,275