Debt

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Debt Disclosure

DEBT

	September 30, 2025				December 31, 2024
In thousands	Current		Non-Current		Current		Non-Current
2029 Senior Notes, net(1)	$	—	$	290,608	$	—	$	290,058
Revolving Credit Facility(2)	—		—		—		195,000
Finance lease obligations	24,859		48,049		31,380		73,620
	$	24,859	$	338,657	$	31,380	$	558,678

(1) Net of unamortized debt issuance costs of $2.5 million and $3.1 million at September 30, 2025 and December 31, 2024, respectively.

(2) Unamortized debt issuance costs of $2.3 million and $3.4 million at September 30, 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 September 30, 2025, the Company had no outstanding draws, $0.7 million in outstanding letters of credit and $399.3 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 nine months ended September 30, 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%. The Company prepaid $9.5 million in finance leases at Rochester in the third quarter of 2025, which, combined with our planned principal payments, decreased our outstanding finance lease obligations by 31%, or $32.1 million, in the nine months ended September 30, 2025. 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 September 30,				Nine Months Ended September 30,
In thousands	2025		2024		2025		2024
2029 Senior Notes	$	3,756	$	3,756	$	11,267	$	11,331
Revolving Credit Facility	564		7,427		7,203		21,399
Finance lease obligations	1,415		1,038		4,634		3,294
Amortization of debt issuance costs	581		581		1,743		1,779
Other obligations	182		770		1,141		2,324
Capitalized interest	(225)		(292)		(1,014)		(738)
Total interest expense, net of capitalized interest	$	6,273	$	13,280	$	24,974	$	39,389