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Convertible debt (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Convertible Debt
As atDecember 31,
2023		December 31, 2022October 31, 2022October 31, 2021
KSP Convertible Notes (a)$99.1 $91.4 $92.4 $100.9 
Glencore Convertible Notes (b)189.0 181.4 196.1 — 
Total Convertible Debt at end of the period$288.1 $272.8 $288.5 $100.9 
KSP Convertible Notes
As atDecember 31, 2023December 31, 2022October 31, 2022October 31, 2021
Principal of convertible note at beginning of period
$110.2 $105.9 $100.0 $100.0 
Issuance of convertible notes9.1 4.3 5.9 — 
Principal of convertible notes at end of the period$119.3 $110.2 $105.9 $100.0 
Conversion feature at beginning of period$6.0 $9.1 $29.0 $— 
Conversion feature issued— — — 27.7 
Fair value (gain) loss on embedded derivative(6.0)(3.1)(19.9)1.3 
Conversion feature at end of period$— $6.0 $9.1 $29.0 
Debt component at beginning of the period$85.4 $83.3 $71.9 $— 
Debt component issued9.1 4.3 5.9 72.3 
Transaction costs
— — — (1.6)
Accrued interest paid in kind(9.1)(4.3)(5.9)— 
Accrued interest expense13.7 2.1 11.4 1.2 
Debt component at end of period$99.1 $85.4 $83.3 $71.9 
Total convertible debt at end of period$99.1 $91.4 $92.4 $100.9 
PIK notes issued thereunder are referred to collectively as the “KSP Convertible Notes”, and as at December 31, 2023, comprised the following:
NoteDate IssuedAmount Issued
Initial KSP NoteSeptember 29, 2021$100.0 
PIK NoteDecember 31, 20211.8 
PIK NoteJune 30, 20224.1 
PIK NoteDecember 31, 20224.3 
PIK NoteJune 30, 20234.4 
PIK NoteDecember 31, 20234.7 
Total$119.3 
Glencore Convertible Notes
As atDecember 31, 2023December 31, 2022October 31, 2022October 31, 2021
Principal of convertible note at beginning of period$208.1 $200.0 $— $— 
Issuance of convertible notes17.2 8.1 200.0 — 
Principal of convertible note at end of period$225.3 $208.1 $200.0 $— 
Conversion feature at beginning of period$16.5 $34.8 $— $— 
Conversion feature issued— — 46.2 — 
Fair value (gain) loss on embedded derivative(16.1)(18.3)(11.4)— 
Conversion feature at end of period$0.4 $16.5 $34.8 $— 
Debt component at beginning of period$164.9 $161.3 $— $— 
Debt component issued17.2 8.1 153.8 — 
Transaction costs— — (1.3)— 
Accrued interest paid in kind(17.2)(8.1)— — 
Accrued interest expense23.7 3.6 8.8 — 
Debt component at end of period$188.6 $164.9 $161.3 $— 
Total Convertible Debt at end of period$189.0 $181.4 $196.1 $— 
The Glencore Note and the PIK notes issued thereunder are referred to collectively as the “Glencore Convertible Notes”, and as at December 31, 2023, comprised the following:
NoteDate IssuedAmount Issued
Glencore NoteMay 31, 2022$200.0 
PIK NoteNovember 30, 20228.1 
PIK NoteMay 31, 20238.4 
PIK NoteNovember 30, 20238.8 
Total$225.3 
Schedule of Maturities of Long-Term Debt Amount of maturities and sinking fund requirements for convertible debt instruments, with interest components rolled into principal, for each of the next five years are as follows:
2024$— 
2025— 
2026148.6 
2027297.7 
2028— 
Thereafter— 
Total
$446.3 
Fair Value Measurement Inputs and Valuation Techniques The assumptions used in the model were as follows:
(Issuance date)
September 29, 2021		October 31, 2021October 31, 2022December 31, 2022December 31, 2023
Risk free interest rate1.1%1.2%4.4%4.2%4.1%
Expected life of options5.0 years4.9 years3.9 years3.8 years2.7 years
Expected dividend yield0.0%0.0%0.0%0.0%0.0%
Expected stock price volatility66%62%63%63%65%
Share Price$12.56$12.94$5.96$4.76$0.58
The embedded derivatives were valued using the Finite Difference Method. The assumptions used in the model were as follows:
(Issuance date)
May 31, 2022		October 31, 2022December 31, 2022December 31, 2023
Risk free interest rate2.9%4.4%4.2%3.8%
Expected life of options5.0 years4.6 years4.4 years3.4 years
Expected dividend yield0.0%0.0%0.0%0.0%
Expected stock price volatility68%63%63%65%
Share Price$8.15$5.96$4.76$0.58