Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of the derivative instruments

The following summarizes the classification of the fair value of the derivative instruments designated as cash flow hedges:

	December 31, 2024
In thousands	Prepaid expenses and other		Other assets		Accrued liabilities and other
Gold forwards	$	—	$	—	$	—
Silver forwards	$	—	$	—	$	—

	December 31, 2023
In thousands	Prepaid expenses and other		Other assets		Accrued liabilities and other
Gold forwards	$	—	$	—	$	1,981
Silver forwards	$	3,312	$	—	$	—

The following table sets forth the after-tax gains (losses) on derivatives designated as cash flow hedges that have been included in AOCI and the Consolidated Statement of Comprehensive Income (Loss) for the years ended December 31, 2024 and 2023, respectively (in thousands):

	Year Ended December 31,
	2024		2023		2022
Amount of Gain (Loss) Recognized in AOCI
Gold forwards	$	(10,886)	$	(10,627)	$	42,043
Silver forwards	(7,621)		10,309		—
Gold zero cost collars	—		—		(4,598)
	$	(18,507)	$	(318)	$	37,445
Amount of (Gain) Loss Reclassified from AOCI to Earnings
Gold forwards	$	12,867	$	(3,697)	$	(28,488)
Silver forwards	4,309		(6,997)		—
Gold zero cost collars	—		—		4,598
	$	17,176	$	(10,694)	$	(23,890)

The following summarizes the classification of the fair value of the derivative instruments:

	December 31, 2024
In thousands	Prepaid expenses and other		Accrued liabilities and other
Provisional metal sales contracts	$	222	$	70

	December 31, 2023
In thousands	Prepaid expenses and other		Accrued liabilities and other
Provisional metal sales contracts	$	318	$	—

Derivative instruments, future settlement

At December 31, 2024, the Company had the following derivative instruments that settle as follows:

In thousands except average prices and notional ounces	2025		2026 and Thereafter
Provisional gold sales contracts	$	37,451	$	—
Average gold price per ounce	$	2,642	$	—
Notional ounces	14,173		—

Gain losses on derivative instruments

The following represent mark-to-market gains (losses) on derivative instruments in the years ended December 31, 2024 and 2023, respectively (in thousands):

		Year Ended December 31,
Financial statement line	Derivative	2024		2023		2022
Revenue	Provisional metal sales contracts	$	(166)	$	30	$	365
Fair value adjustments, net	Terminated zero cost collars	—		—		(3,139)
		$	(166)	$	30	$	(2,774)

Credit Risk

The credit risk exposure related to any derivative instrument is limited to the unrealized gains, if any, on outstanding contracts based on current market prices. To reduce counter-party credit exposure, the Company enters into contracts with institutions management deems credit-worthy and limits credit exposure to each institution. The Company does not anticipate non-performance by any of its counterparties.