Debt

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Debt Disclosure

DEBT

	March 31, 2025				December 31, 2024
In thousands	Current		Non-Current		Current		Non-Current
2029 Senior Notes, net(1)	$	—	$	290,241	$	—	$	290,058
Revolving Credit Facility(2)	—		110,000		—		195,000
Finance lease obligations	31,748		66,280		31,380		73,620
	$	31,748	$	466,521	$	31,380	$	558,678

(1) Net of unamortized debt issuance costs of $2.9 million and $3.1 million at March 31, 2025 and December 31, 2024, respectively.

(2) Unamortized debt issuance costs of $3.0 million and $3.4 million at March 31, 2025 and December 31, 2024, respectively, included in Other Non-Current Assets.

2029 Senior Notes

In March 2021, the Company completed an offering of $375.0 million in aggregate principal amount of senior notes in a private placement conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, for net proceeds of approximately $367.5 million (the “2029 Senior Notes”). For more details, please see Note 8 -- Debt contained in the 2024 10-K.

Revolving Credit Facility

At March 31, 2025, the Company had $110.0 million drawn at a weighted-average interest rate of 6.7%, $29.1 million in outstanding letters of credit and $260.9 million available under the revolving credit facility (“RCF”). Future borrowing may be subject to certain financial covenants.

Finance Lease Obligations

From time to time, the Company acquires mining equipment and facilities under finance lease agreements. In the three months ended March 31, 2025, the Company entered into a new lease financing arrangement for mining equipment at Rochester for $0.8 million at an interest rate of 7.2%. All finance lease obligations are recorded, upon lease inception, at the present value of future minimum lease payments. For more details, please see Note 7 -- Leases in the 2024 10-K.

Interest Expense

	Three Months Ended March 31,
In thousands	2025		2024
2029 Senior Notes	$	3,756	$	3,820
Revolving Credit Facility	4,206		6,454
Finance lease obligations	1,658		1,259
Amortization of debt issuance costs	581		619
Other obligations	645		797
Capitalized interest	(396)		(2)
Total interest expense, net of capitalized interest	$	10,450	$	12,947