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ASSETS HELD FOR SALE AND DISCONTINUED OPERATION
 12 Months Ended
Dec. 31, 2025
Assets Held For Sale and Discontinued Operations [Abstract]  
ASSETS HELD FOR SALE AND DISCONTINUED OPERATION ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS
On December 13, 2025, the Company entered into a share purchase agreement with a third-party group (the “Buyer”) to sell the Company’s 100% interest in the Brazil Operations. The Brazil Sale Transaction closed on January 23, 2026. On closing of the Brazil Sale Transaction, the Company received cash consideration of $891.1 million, which is subject to customary post-closing working capital adjustments.
In addition to the cash received on closing, the Company is entitled to additional production-linked cash consideration of up to $115.0 million payable on January 23, 2027, based on gold ounces sold by the Brazil Operations during the 12-month period following closing (the “Brazil Measurement Period”). The contingent consideration equals 12.5% of incremental revenue from gold sales above 200,000 ounces, subject to a maximum payment of $115.0 million if sales exceed 280,000 ounces during the Brazil Measurement Period.
In connection with the Brazil Sale Transaction, the Company has provided certain indemnities to the Buyer, including those relating to pre-closing taxes and environmental and litigation matters.
At December 31, 2025, the assets and liabilities of the Brazil Operations were classified as held for sale and the disposal group was measured at the lower of its carrying amount and fair value less costs to sell. Management determined that no impairment loss was required to be recognized on the Brazil Operations disposal group as at December 31, 2025.
At December 31, 2025, the carrying amounts of the assets and liabilities of the Brazil Operations classified as held for sale were as follows:
Assets held for sale
Cash and cash equivalents(1)
$22,649 
Trade and other receivables(1)
17,190 
Inventories123,065 
Mineral properties, plant and equipment725,106 
Deferred income tax assets8,226 
Other assets32,096 
928,332 
Liabilities relating to assets held for sale
Accounts payable and accrued liabilities(1)
146,849 
Reclamation and closure cost provisions54,644 
Deferred income tax liabilities2,178 
Other liabilities27,004 
230,675 
Net assets held for sale$697,657 
(1)    The financial assets and financial liabilities of the Brazil Operations classified as held for sale at December 31, 2025 are principally measured at amortized cost.
The Brazil Operations, being a component that represents a separate major geographical area of operations of the Company, has been presented as discontinued operations in these consolidated financial statements. The statement of income and related notes for the year ended December 31, 2024 have been restated to present the results of the Brazil Operations as discontinued operations.
9.    ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (CONTINUED)
The following tables present significant information about the results and cash flows of the Brazil Operations for the years ended December 31, 2025 and 2024:
20252024
Revenue$891,941 $601,280 
Operating expense(432,636)(392,665)
Depreciation and depletion(160,776)(110,691)
Other operating expenses(9,301)(11,664)
Income from operations289,228 86,260 
Finance expense (6,390)(4,079)
Finance income876 991 
Other (expense) income(2,491)13,599 
Income before income taxes281,223 96,771 
Income tax expense(40,891)(17,778)
Net income from discontinued operations$240,332 $78,993 
Net income per share - discontinued operations
Basic$0.38 $0.20 
Diluted0.38 0.17 
20252024
Cash provided by (used in):
Operating activities$421,285 $222,244 
Investing activities(141,085)(107,726)
Financing activities(10,940)(6,557)