XML 55 R35.htm IDEA: XBRL DOCUMENT v3.23.2
Deferred Liabilities, Commitments and Contingencies (Details)
3 Months Ended 10 Months Ended 12 Months Ended
Mar. 20, 2023
USD ($)
$ / shares
Mar. 20, 2023
USD ($)
$ / shares
Mar. 20, 2023
USD ($)
$ / shares
shares
Mar. 20, 2023
USD ($)
$ / shares
Mar. 20, 2023
USD ($)
t
$ / shares
Mar. 20, 2023
USD ($)
oz
$ / shares
Mar. 20, 2023
USD ($)
T
$ / shares
Mar. 10, 2023
USD ($)
item
$ / shares
shares
Feb. 28, 2023
USD ($)
facility
item
Sep. 16, 2021
USD ($)
Sep. 03, 2021
USD ($)
shares
Aug. 02, 2021
USD ($)
$ / shares
shares
Mar. 31, 2023
USD ($)
item
$ / shares
shares
Dec. 31, 2021
USD ($)
Dec. 31, 2022
USD ($)
item
$ / shares
shares
Syndicated facility agreement | Facility A                              
Deferred Liabilities, Commitments and Contingencies                              
Amount of facility                 $ 205,000,000            
CIK0001853021 Metals Acquisition Corp                              
Deferred Liabilities, Commitments and Contingencies                              
Maximum number of demands for registration of securities | item                         3   3
Underwriter cash discount                   $ 5,302,956          
Deferred underwriting discount percentage                   2.00%         2.00%
Amount of facility                 $ 205,000,000            
Number of shares issued | shares               1,500,000              
Purchase price, per unit | $ / shares               $ 10.00         $ 10.00   $ 10.00
Upfront cash deposit $ 75,000,000 $ 75,000,000 $ 75,000,000 $ 75,000,000 $ 75,000,000 $ 75,000,000 $ 75,000,000                
Increase in upfront cash deposit       15,000,000                      
Percent of payable silver   100.00%                          
Percent of produced silver at the CSA Mine   90.00%                          
Percent of refined silver price for each ounce   4.00%                          
Percentage of issued share capital in ROFR   5.00%                          
Aggregate purchase price               $ 15,000,000           $ 25,000  
Deferred underwriting discount                           9,280,173  
Threshold Quantity of Refined Copper delivered to the Purchaser         33,000   33,000                
Period of achievement 10 days                            
Ounce to be quoted on silver price | t         25.50                    
ROFR term 7 years                            
Payments to related parties                           150,000  
CIK0001853021 Metals Acquisition Corp | New MAC Ordinary Shares | New MAC Financing Warrants                              
Deferred Liabilities, Commitments and Contingencies                              
Minimum number of times the exercise price for twenty consecutive trading days based on which acceleration of exercise date of warrants is determined | item               2              
CIK0001853021 Metals Acquisition Corp | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Upfront cash deposit $ 75,000,000 $ 75,000,000 $ 75,000,000 75,000,000 $ 75,000,000 $ 75,000,000 $ 75,000,000                
Increase in upfront cash deposit       15,000,000                      
Percent of payable silver   100.00%                          
Percent of produced silver at the CSA Mine   90.00%                          
Percent of refined silver price for each ounce   4.00%                          
Percentage of issued share capital in ROFR   5.00%                          
Ounce to be quoted on silver price | oz           25.50                  
ROFR term 7 years                            
CIK0001853021 Metals Acquisition Corp | Revolving Credit Facility [Member]                              
Deferred Liabilities, Commitments and Contingencies                              
Maturity term (in years)                 3 years            
CIK0001853021 Metals Acquisition Corp | Minimum | Facility C                              
Deferred Liabilities, Commitments and Contingencies                              
Issuance fee (in percent)                 2.00%            
CIK0001853021 Metals Acquisition Corp | Minimum | Facility C | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Issuance fee (in percent)                 2.00%            
CIK0001853021 Metals Acquisition Corp | Maximum [Member]                              
Deferred Liabilities, Commitments and Contingencies                              
Amount of facility                         $ 75,000,000    
CIK0001853021 Metals Acquisition Corp | Maximum [Member] | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Amount of facility               $ 75,000,000              
CIK0001853021 Metals Acquisition Corp | Maximum [Member] | Facility C                              
Deferred Liabilities, Commitments and Contingencies                              
Issuance fee (in percent)                 3.00%            
CIK0001853021 Metals Acquisition Corp | Glencore Deed of Consent                              
Deferred Liabilities, Commitments and Contingencies                              
Deferred fees                         4,530,101   $ 2,995,087
CIK0001853021 Metals Acquisition Corp | Glencore Deed of Consent | Glencore                              
Deferred Liabilities, Commitments and Contingencies                              
Deferred fees                           0 2,995,087
CIK0001853021 Metals Acquisition Corp | Silver Stream Equity Subscription Agreement                              
Deferred Liabilities, Commitments and Contingencies                              
Aggregate ordinary shares | shares     1,500,000                        
Aggregate purchase price       $ 15,000,000                      
Purchase price (In per share) | $ / shares $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00                
CIK0001853021 Metals Acquisition Corp | Silver Stream Equity Subscription Agreement | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Aggregate ordinary shares | shares     1,500,000                        
Purchase price (In per share) | $ / shares $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00                
CIK0001853021 Metals Acquisition Corp | Syndicated facility agreement                              
Deferred Liabilities, Commitments and Contingencies                              
Number of Credit Facilities | item                 3            
Additional interest rate on overdue payments (in percent)                 2.00%            
CIK0001853021 Metals Acquisition Corp | Syndicated facility agreement | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Number of Credit Facilities | facility                 3            
Additional interest rate on overdue payments (in percent)                 2.00%            
CIK0001853021 Metals Acquisition Corp | Syndicated facility agreement | Facility A                              
Deferred Liabilities, Commitments and Contingencies                              
Debt Service Cover Ratio                 1.50            
Percentage of excess cash to be applied for repayment                 30.00%            
Maturity term (in years)                 5 years            
Variable margin                 3.00%            
CIK0001853021 Metals Acquisition Corp | Syndicated facility agreement | Facility A | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Amount of facility                 $ 205,000,000            
Debt Service Cover Ratio                 1.50            
Percentage of excess cash to be applied for repayment                 30.00%            
Maturity term (in years)                 5 years            
Variable margin                 3.00%            
CIK0001853021 Metals Acquisition Corp | Syndicated facility agreement | Revolving Credit Facility [Member]                              
Deferred Liabilities, Commitments and Contingencies                              
Amount of facility                 $ 25,000,000            
Variable margin                 0.03%            
CIK0001853021 Metals Acquisition Corp | Syndicated facility agreement | Revolving Credit Facility [Member] | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Amount of facility                 $ 25,000,000            
Maturity term (in years)                 3 years            
Variable margin                 3.00%            
CIK0001853021 Metals Acquisition Corp | Syndicated facility agreement | Facility C                              
Deferred Liabilities, Commitments and Contingencies                              
Amount of facility                 $ 40,000,000            
CIK0001853021 Metals Acquisition Corp | Syndicated facility agreement | Facility C | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Amount of facility                 $ 40,000,000            
CIK0001853021 Metals Acquisition Corp | Syndicated facility agreement | Maximum [Member] | Facility C | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Issuance fee (in percent)                 3.00%            
CIK0001853021 Metals Acquisition Corp | Mezz Facility                              
Deferred Liabilities, Commitments and Contingencies                              
Maturity term (in years)               5 years              
Variable margin               2.00%              
Mezzanine loan facility               $ 135,000,000              
CIK0001853021 Metals Acquisition Corp | Mezz Facility | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Maturity term (in years)               5 years              
Variable margin               2.00%              
Mezzanine loan facility               $ 135,000,000              
CIK0001853021 Metals Acquisition Corp | Copper Purchase Agreement                              
Deferred Liabilities, Commitments and Contingencies                              
Amount of facility $ 75,000,000 $ 75,000,000 $ 75,000,000 $ 75,000,000 $ 75,000,000 $ 75,000,000 $ 75,000,000                
One-time payment       40,000,000                      
Percentage of cash settlement price   4.00%                          
Notoce period for drawing the deposit (in days), prior to the closing of the Business Combination 10 days                            
Percentage of Payable Copper to determine amount to be transferred   96.20%                          
Payments to related parties       20,000,000                      
CIK0001853021 Metals Acquisition Corp | Copper Purchase Agreement | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Amount of facility $ 75,000,000 $ 75,000,000 $ 75,000,000 75,000,000 $ 75,000,000 $ 75,000,000 $ 75,000,000                
One-time payment       40,000,000                      
Percentage of cash settlement price   4.00%                          
Percentage of Payable Copper to determine amount to be transferred   96.20%                          
Payments to related parties       $ 20,000,000                      
CIK0001853021 Metals Acquisition Corp | Copper Purchase Agreement | Minimum | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Notoce period for drawing the deposit (in days), prior to the closing of the Business Combination 10 days                            
CIK0001853021 Metals Acquisition Corp | Copper Purchase Agreement | Maximum [Member] | Revolving Credit Facility [Member]                              
Deferred Liabilities, Commitments and Contingencies                              
Aggregate purchase price                         25,000,000    
CIK0001853021 Metals Acquisition Corp | Copper Purchase Agreement | Maximum [Member] | Revolving Credit Facility [Member] | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Aggregate purchase price               $ 25,000,000              
CIK0001853021 Metals Acquisition Corp | Copper Stream Equity Subscription Agreement                              
Deferred Liabilities, Commitments and Contingencies                              
Purchase price (In per share) | $ / shares $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00                
CIK0001853021 Metals Acquisition Corp | Copper Stream Equity Subscription Agreement | New MAC Ordinary Shares                              
Deferred Liabilities, Commitments and Contingencies                              
Aggregate ordinary shares | shares     2,500,000                        
Aggregate purchase price       $ 25,000,000                      
CIK0001853021 Metals Acquisition Corp | Copper Stream Equity Subscription Agreement | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Aggregate ordinary shares | shares     2,500,000                        
Purchase price (In per share) | $ / shares $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00 $ 10.00                
Debt instrument, aggregate price $ 25,000,000 $ 25,000,000 $ 25,000,000 $ 25,000,000 $ 25,000,000 $ 25,000,000 $ 25,000,000                
CIK0001853021 Metals Acquisition Corp | Equity Subscription Agreement [Member] | New MAC Ordinary Shares                              
Deferred Liabilities, Commitments and Contingencies                              
Exercise price of warrants | $ / shares               $ 12.50              
Aggregate purchase price               $ 15,000,000              
CIK0001853021 Metals Acquisition Corp | Equity Subscription Agreement [Member] | New MAC Ordinary Shares | New MAC Financing Warrants                              
Deferred Liabilities, Commitments and Contingencies                              
Warrants issued upon conversion of notes | shares               3,187,500              
Threshold consecutive trading days based on which Acceleration of exercise date of warrants is determined               20 days              
Number of shares per warrant | shares               1              
CIK0001853021 Metals Acquisition Corp | Equity Subscription Agreement [Member] | Subsequent Event                              
Deferred Liabilities, Commitments and Contingencies                              
Number of shares issued | shares               1,500,000              
CIK0001853021 Metals Acquisition Corp | Equity Subscription Agreement [Member] | Subsequent Event | New MAC Ordinary Shares                              
Deferred Liabilities, Commitments and Contingencies                              
Purchase price, per unit | $ / shares               $ 10.00              
CIK0001853021 Metals Acquisition Corp | Equity Subscription Agreement [Member] | Subsequent Event | New MAC Ordinary Shares | New MAC Financing Warrants                              
Deferred Liabilities, Commitments and Contingencies                              
Warrants issued upon conversion of notes | shares               3,187,500              
Exercise price of warrants | $ / shares               $ 12.50              
Minimum number of times the exercise price for twenty consecutive trading days based on which acceleration of exercise date of warrants is determined | item               2              
Threshold consecutive trading days based on which Acceleration of exercise date of warrants is determined               20 days              
Number of shares per warrant | shares               1              
CIK0001853021 Metals Acquisition Corp | IPO                              
Deferred Liabilities, Commitments and Contingencies                              
Number of units sold | shares                       25,000,000      
Cash underwriting fees                     $ 5,302,956     5,302,956  
Underwriter cash discount                             $ 5,302,956
Deferred underwriting discount percentage                             3.50%
Proceeds from issuance initial public offering                       $ 250,000,000      
Purchase price, per unit | $ / shares                       $ 10.00      
Deferred underwriting discount                     $ 9,280,173   $ 9,280,173   $ 9,280,173
CIK0001853021 Metals Acquisition Corp | Over-allotment option                              
Deferred Liabilities, Commitments and Contingencies                              
Underwriters option period                         45 days   45 days
Number of units sold | shares                     1,514,780 3,750,000 3,750,000   3,750,000
Proceeds from issuance of units                     $ 15,147,800        
Cash underwriting fees                     302,956        
Deferred underwriting discount percentage                   3.50%          
Proceeds from issuance initial public offering                   $ 9,280,173          
Deferred underwriting discount                     $ 530,173        
CIK0001853021 Metals Acquisition Corp | Legal Services Agreement                              
Deferred Liabilities, Commitments and Contingencies                              
Accrued fees                         $ 4,168,087 517,611 $ 3,373,124
CIK0001853021 Metals Acquisition Corp | Tax Planning Services Agreement                              
Deferred Liabilities, Commitments and Contingencies                              
Deferred fees                         $ 662,562 $ 0 $ 544,119