REVENUE (Tables)

12 Months Ended

Dec. 31, 2025


	Note	Stream Arrangement (note 14(a))		Gold Prepay Transactions (note 14(b))		Gold Purchase and Sale Arrangement (note 14(c))		Other Gold Prepay Arrangement (note 14(d))		Total
Balance – December 31, 2023		$	—	$	159,072	$	75,061	$	—	$	234,133
Assumed on Greenstone Acquisition	5(c)	137,045		—		—		—		137,045
Gold delivered		(3,000)		—		(11,342)		—		(14,342)
Accretion expense		2,298		14,970		8,948		—		26,216
Balance – December 31, 2024		136,343		174,042		72,667		—		383,052
Assumed on Calibre Acquisition	5(a)	—		—		—		50,454		50,454
Gold delivered		(10,884)		(85,007)		(11,342)		(50,830)		(158,063)
Accretion expense		1,580		13,681		1,647		376		17,284
Balance – December 31, 2025		$	127,039	$	102,716	$	62,972	$	—	$	292,727

At December 31								2025		2024
Classified and presented as:
Current(1)								$	127,597	$	116,334
Non-current								165,130		266,718
								$	292,727	$	383,052

(1) The current portion of deferred revenue is based on the amounts of gold expected to be delivered within 12 months of the reporting date.

Revenue from contracts with customers during the years ended December 31, 2025 and 2024 disaggregated by metal were as follows: