Note 4 - Business Segments, Sales of Products and Significant Customers (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Information About Reportable Segments

The tables below present information about our reportable segments as of and for the years ended December 31, 2024, 2023 and 2022 (in thousands).

Year ended December 31, 2024	Greens Creek		Lucky Friday			Keno Hill			Casa Berardi			Other		Total
Metal sales	$	421,574	$	203,154		$	74,962		$	209,679		$	—	$	909,369
Environmental remediation services		—		—			—			—			20,556		20,556
Intersegment sales		—		—			3,834			—			—		3,834
Reconciliation of sales		421,574		203,154			78,796			209,679			20,556		933,759
Elimination of intersegment sales		—		—			(3,834	)		—			—		(3,834	)
Total consolidated sales															929,925
Cost of sales and other direct production costs
Salaries, wages and other benefits		69,990		52,879			29,658			49,345			206		202,078
Contractors		6,135		14,154			22,960			23,982			19,696		86,927
Materials and consumables		93,223		39,957			28,648			55,867			625		218,320
Product inventory change		5,858		(2,628	)		(8,902	)		(3,269	)		—		(8,941	)
Other direct production costs		39,471		1,281			13,216			24,854			—		78,822
Transfer to ramp-up and suspension costs(a)		—		(2,207	)		(26,754	)		—			—		(28,961	)
Depreciation, depletion and amortization		53,450		41,049			16,136			72,835			—		183,470
Gross profit (loss)	$	153,447	$	58,669		$	—		$	(13,935	)	$	29	$	198,210
Other operating expenses (b)															91,934
Income from operations															106,276
Other Expense:
Interest expense															(49,834	)
Fair value adjustments, net															(2,204	)
Foreign exchange gain, net															7,552
Other income															4,426
Income before income and mining taxes														$	66,216
Capital additions	$	47,795	$	49,592		$	54,869		$	60,704		$	1,532	$	214,492
Identifiable assets		564,334		587,945			413,982			687,080			727,719		2,981,060

(a) Total cost of sales in excess of sales value are transferred to ramp-up and suspension costs.

(b) Other operating expense items include general and administrative, exploration and pre-development, ramp-up and suspension costs, provision for closed operations and environmental matters, write-down of property, plant and equipment and other operating (income) expense, net.

Year ended December 31, 2023	Greens Creek		Lucky Friday			Keno Hill			Casa Berardi			Other			Total
Metal sales	$	384,504	$	116,284		$	35,518		$	177,678		$	960		$	714,944
Environmental remediation services		—		—			—			—			5,283			5,283
Intersegment sales		—		—			—			—			—			—
Reconciliation of sales		384,504		116,284			35,518			177,678			6,243			720,227
Elimination of intersegment sales																-
Total consolidated sales																720,227
Cost of sales and other direct production costs
Salaries, wages and employee benefits		68,183		43,142			21,569			51,201			3,029			187,124
Contractors		5,917		8,681			10,472			31,912			1,125			58,107
Materials and consumables		89,850		27,030			18,018			48,130			1,606			184,634
Product inventory change		4,266		8,014			(1,163	)		2,913			269			14,299
Other direct production costs		37,684		(1,460	)		12,138			23,376			1,207			72,945
Transfer to ramp-up and suspension costs(a)		-		(25,548	)		(29,793	)		(2,228	)		(1,036	)		(58,605	)
Depreciation, depletion and amortization		53,995		24,325			4,277			66,037			140			148,774
Gross profit (loss)	$	124,609	$	32,100		$	—		$	(43,663	)	$	(97	)	$	112,949
Other operating expenses (b)																157,623
Loss from operations																(44,674	)
Other Expense:
Interest expense																(43,319	)
Fair value adjustments, net																2,925
Foreign exchange loss, net																(3,810	)
Other income																5,883
Loss before income and mining taxes															$	(82,995	)
Capital additions	$	43,542	$	65,337		$	44,672		$	70,056		$	280		$	223,887
Identifiable assets		569,369		578,110			362,986			683,035			817,604			3,011,104

(a) Total cost of sales in excess of sales value are transferred to ramp-up and suspension costs.

(b) Other operating expense items include general and administrative, exploration and pre-development, ramp-up and suspension costs, provision for closed operations and environmental matters, write-down of property, plant and equipment and other operating (income) expense, net.

Year ended December 31, 2022	Greens Creek			Lucky Friday			Keno Hill			Casa Berardi			Other			Total
Metal sales	$	335,062		$	147,814		$	—		$	235,136		$	420		$	718,432
Environmental remediation services		—			—			—			—			473			473
Intersegment sales		—			—			—			—			—			—
Reconciliation of sales		335,062			147,814			—			235,136			893			718,905
Elimination of intersegment sales																	—
Total consolidated sales																	718,905
Cost of sales and other direct production costs
Salaries, wages and employee benefits		64,142			42,155			863			58,678			6,186			172,024
Contractors		7,550			11,384			482			52,715			3,835			75,966
Materials and consumables		81,538			29,868			459			54,896			5,135			171,896
Product inventory change		(5,885	)		(2,302	)		-			(186	)		(9,554	)		(17,927	)
Other direct production costs		36,462			1,789			496			21,833			(1,428	)		59,152
Transfer to ramp-up and suspension costs(a)		-			-			(2,300	)		-			-			(2,300	)
Depreciation, depletion and amortization		48,911			33,704			-			60,962			361			143,938
Gross profit (loss)	$	102,344		$	31,216		$	—		$	(13,762	)	$	(3,642	)	$	116,156
Other operating expenses (b)																	128,594
Loss from operations																	(12,438	)
Other Expense:
Interest expense																	(42,793	)
Fair value adjustments, net																	(4,723	)
Foreign exchange gain, net																	7,211
Other income																	7,829
Loss before income and mining taxes																$	(44,914	)
Capital additions	$	36,898		$	50,992		$	19,725		$	39,667		$	2,096		$	149,378
Identifiable assets		582,687			571,510			276,096			681,631			815,248			2,927,172

(a) Total cost of sales in excess of sales value are transferred to ramp-up and suspension costs.

(b) Other operating expense items include general and administrative, exploration and pre-development, ramp-up and suspension costs, provision for closed operations and environmental matters, write-down of property, plant and equipment and other operating (income) expense, net.

Schedule of Long-lived Assets by Geographic Area

The following are our long-lived assets by geographic area as of December 31, 2024 and 2023 (in thousands):

	2024		2023
United States	$	1,684,890	$	1,698,285
Canada		1,001,612		960,109
Mexico		7,617		7,856
Total long-lived assets	$	2,694,119	$	2,666,250

Schedule of Sales Contributed by Each Segment

Sales of metal concentrates and metal products are made principally to custom smelters, third-party processors and metal traders. The percentage of metal sales contributed by each segment is reflected in the following table:

	Year Ended December 31,
	2024			2023			2022
Greens Creek		46.4	%		53.7	%		46.6	%
Lucky Friday		22.3	%		16.3	%		20.6	%
Keno Hill		8.2	%		5.0	%		—
Casa Berardi		23.1	%		24.9	%		32.7	%
Other		—			0.1	%		0.1	%
		100	%		100	%		100	%

Schedule of Sales of Products by Metal

Total sales for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):

	Year Ended December 31,
	2024			2023			2022
Silver	$	413,980		$	302,284		$	265,054
Gold		318,256			274,613			298,910
Lead		87,223			72,726			83,384
Zinc		130,767			116,230			123,057
Copper		416			—			—
Less: Smelter and refining charges		(41,273	)		(50,909	)		(51,973	)
Total metal sales		909,369			714,944			718,432
Environmental remediation services		20,556			5,283			473
Total sales	$	929,925		$	720,227		$	718,905

Schedule of Sales Information by Geographic Area

The following is metal sales information by geographic area based on the location of smelters and metal traders (for concentrate shipments) and the location of parent companies (for doré sales to metal traders) for the years ended December 31, 2024, 2023 and 2022 (in thousands):

	2024		2023		2022
United States	$	41,079	$	36,307	$	21,938
Canada		457,423		375,092		406,600
Japan		44,561		52,744		51,375
Korea		181,372		127,590		107,828
China		183,644		103,534		136,514
Total, excluding gains/losses on forward contracts	$	908,079	$	695,267	$	724,255

Metal sales by significant product type for the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):

	Year Ended December 31,
	2024		2023		2022
Doré and metals from doré - Greens Creek, Casa Berardi	$	238,124	$	211,321	$	255,608
Carbon - Casa Berardi		7,670		4,333		2,607
Silver concentrate - Greens Creek, Lucky Friday, Keno Hill		493,584		356,941		329,165
Zinc concentrate - Greens Creek, Lucky Friday, Keno Hill		111,101		80,274		109,177
Precious metals concentrate - Greens Creek		57,600		42,398		27,698
Total, excluding gains/losses on forward contracts	$	908,079	$	695,267	$	724,255

Schedule of Sales from Continuing Operations to Significant Metals Customers

Metal sales from continuing operations to significant metals customers as a percentage of total sales were as follows for the years ended December 31, 2024, 2023 and 2022:

	Year Ended December 31,
	2024			2023			2022
Customer A - Casa Berardi		17.2	%		24.2	%		35.4	%
Customer B - Greens Creek, Lucky Friday		28.1	%		11.8	%		23.9	%
Customer C - Greens Creek		18.5	%		15.5	%		11.3	%
Customer D - Greens Creek, Keno Hill		15.9	%		9.5	%		6.9	%

Summary of Trade Accounts Receivable

Trade accounts receivable balances with significant metals customers as of December 31, 2024, 2023 and 2022 were as follows:

	2024	2023	2022
Customer B	46.1%	22.2%	57.5%
Customer C	16.8%	3.3%	3.1%
Customer D	28.2%	—	2.1%
Customer E	7.2%	24.2%	3.2%
Customer F	—	—	15.9%
Customer G	—	—	11.8%
Customer H	—	34.8%	—