CAPITAL AND FINANCIAL RISK MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2025

CAPITAL AND FINANCIAL RISK MANAGEMENT

Schedule of translation impact on income before income and mining taxes and equity

The following table sets out the translation impact, based on financial instruments in place as at December 31, 2025

	Positive (negative) impact on
	Income before Income and
	Mining Taxes and on Equity
Canadian dollar	$	(8,048)
Australian dollar	$	(3,316)
Euro	$	(11,712)
Mexican peso	$	3,267

Schedule of carrying amounts of financial instruments with exposure to credit risk

	As at		As at
	December 31,		December 31,
	2025		2024
Cash and cash equivalents	$	2,866,053	$	926,431
Trade receivables (Notes 6, 8A and 19)		18,690		7,646
Fair value of derivative financial instruments (Notes 6 and 21)		34,428		1,348
Short-term investments (Note 8A)		8,856		7,306
Non-current loans receivable (Note 8B)		9,203		12,039
Total	$	2,937,230	$	954,770

As at December 31, 2025 and 2024, cash and cash equivalents consisted of the following:

	As at		As at
	December 31,		December 31,
	2025		2024
Cash	$	2,317,928	$	803,211
Short-term deposits		548,125		123,220
Total cash and cash equivalents	$	2,866,053	$	926,431

Schedule of lease financing, long-term debt, and total equity

	As at		As at
	December 31,		December 31,
	2025		2024
Lease obligations (Note 13)	$	125,199	$	139,226
Long-term debt (Note 14)		196,271		1,142,956
Total equity		24,742,464		20,832,900
Total	$	25,063,934	$	22,115,082

Schedule of changes in liabilities arising from financing activities

	As at		Changes from						As at
	December 31,		Financing Cash		Foreign				December 31,
	2024		Flows		Exchange		Other(i)		2025
Long-term debt	$	1,142,956		(950,000)		—		3,315	$	196,271
Lease obligations		139,226		(36,043)		(994)		23,010		125,199
Total liabilities from financing activities	$	1,282,182		(986,043)		(994)		26,325	$	321,470

Note:

(i) Includes the amortization of deferred financing costs on long-term debt reflected in finance costs and lease obligation additions.