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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Sales $ 245,657 $ 178,131 $ 435,185 $ 377,631
Cost of sales and other direct production costs 140,464 107,754 261,925 233,304
Depreciation, depletion and amortization 53,763 32,718 102,670 71,720
Total cost of sales 194,227 140,472 364,595 305,024
Gross profit 51,430 37,659 70,590 72,607
Other operating expenses:        
General and administrative 14,740 10,783 25,956 22,853
Exploration and pre-development 6,682 6,893 11,024 11,860
Ramp-up and suspension costs 5,538 16,323 20,061 27,659
Provision for closed operations and environmental matters 1,153 3,111 2,139 4,155
Other operating income, net (17,283) (4,262) (34,254) (4,284)
Total other operating expenses 10,830 32,848 24,926 62,243
Income from operations 40,600 4,811 45,664 10,364
Other expense:        
Interest expense (12,505) (10,311) (25,149) (20,476)
Fair value adjustments, net 5,002 (2,558) 3,150 623
Net foreign exchange gain (loss) 2,673 (3,850) 6,655 (3,742)
Other income 1,180 1,376 2,692 2,768
Total other expense (3,650) (15,343) (12,652) (20,827)
Income (loss) before income and mining taxes 36,950 (10,532) 33,012 (10,463)
Income and mining tax provision (9,080) (5,162) (10,895) (8,404)
Net Income (Loss) 27,870 (15,694) 22,117 (18,867)
Preferred stock dividends (138) (138) (276) (276)
Net income (loss) applicable to common stockholders 27,732 (15,832) 21,841 (19,143)
Comprehensive income (loss):        
Net income (loss) 27,870 (15,694) 22,117 (18,867)
Change in fair value of derivative contracts designated as hedge transactions (6,488) 5,232 (11,891) 11,748
Comprehensive income (loss) $ 21,382 $ (10,462) $ 10,226 $ (7,119)
Basic income (loss) per common share after preferred dividends $ 0.04 $ (0.03) $ 0.04 $ (0.03)
Diluted income (loss) per common share after preferred dividends $ 0.04 $ (0.03) $ 0.04 $ (0.03)
Weighted average number of common shares outstanding - basic 617,106 604,088 616,649 602,077
Weighted average number of common shares outstanding - diluted 622,206 604,088 621,936 602,077