XML 96 R50.htm IDEA: XBRL DOCUMENT v3.22.4
Financial risk management (Tables)
12 Months Ended
Dec. 31, 2022
FINANCIAL RISK MANAGEMENT [Abstract]  
Schedule of maximum exposure to credit risk The Company’s maximum exposure to credit risk is as follows:

Year ended December 31
(in millions of U.S. dollars)20222021
CREDIT RISK EXPOSURE


Cash and cash equivalents200.8 481.5 
Trade and other receivables14.1 26.4 
Total financial instrument exposure to credit risk214.9 507.9 
Schedule of aging of trade and other receivables The aging of trade and other receivables is as follows:
    As at December 31
(in millions of U.S. dollars)0-30
days
31-60
days
61-90
days
91-120
days
Over 120
days
2022 Total2021 Total
AGING TRADE AND OTHER RECEIVABLES     
Rainy River8.0 — — — — 8.0 3.5 
New Afton2.6 1.6 — (0.5)— 3.7 6.1 
Cerro San Pedro1.3 — — — — 1.3 2.5 
Corporate1.1 — — — — 1.1 14.3 
Total trade and other receivables13.0 1.6 — (0.5)— 14.1 26.4 

Schedule of contractual maturities of debt commitments
The following table shows the contractual maturities of debt commitments. The amounts presented represent the future undiscounted principal and interest cash flows, and therefore, do not equate to the carrying amounts on the consolidated statements of financial position.
As at December 31
(in millions of U.S. dollars)< 1 year1-3 years4-5 yearsAfter
5 years
2022 Total2021 Total
DEBT COMMITMENTS      
Trade and other payables128.7 — — — 128.7 127.7 
Long-term debt— — 400.0 — 400.0 500.0 
Interest payable on long-term debt30.0 60.0 60.0 — 150.0 202.4 
New Afton free cash flow interest obligation — 60.2266.9271.5598.6 625.3 
Gold stream obligation29.469.760.666.0225.7 203.4
Total debt commitments188.1 189.9 787.5 337.5 1,503.0 1,658.8 
Schedule of currencies of financial instruments and other foreign currency denominated liabilities The currencies of the Company’s financial instruments and other foreign currency denominated liabilities, based on notional amounts, were as follows:
As at December 31, 2022
(in millions of U.S. dollars)CADMXN
EXPOSURE TO CURRENCY RISK  
Cash and cash equivalents33.9  
Trade and other receivables10.4 0.4 
Investments35.6  
Income tax payable(0.4) 
Trade and other payables(128.6)(1.3)
Deferred tax liability(66.8) 
Reclamation and closure cost obligations(119.5) 
Share units(1.8) 
Total exposure to currency risk(237.2)(0.9)
As at December 31, 2021
(in millions of U.S. dollars)CADMXN
EXPOSURE TO CURRENCY RISK  
Cash and cash equivalents35.1 0.6 
Trade and other receivables6.5 1.9 
Investments59.3 — 
Income tax receivable0.5 2.6 
Trade and other payables(96.0)(2.7)
Deferred tax liability(69.6)— 
Reclamation and closure cost obligations(154.5)(0.1)
Share units(3.7)— 
Total exposure to currency risk(222.4)2.3 
Schedule of changes in foreign exchange rates A 10% strengthening (weakening) of the U.S. dollar against the following currencies would have decreased (increased) the Company’s net earnings from the financial instruments presented by the amounts shown below.
As at Year ended December 31
(in millions of U.S. dollars)20222021
IMPACT OF 10% CHANGE IN FOREIGN EXCHANGE RATES  
Canadian dollar23.7 22.2 
Mexican peso0.1 0.2 
Schedule of change in commodity prices A 10% change in commodity prices and fuel and electricity prices would impact the Company’s net loss as follows:
 Year ended December 31, 2022Year ended December 31, 2021
(in millions of U.S. dollars) 
Net
Loss
Net
 Earnings
IMPACT OF 10% CHANGE IN COMMODITY PRICES  
Gold price48.6 49.9 
Copper price11.9 24.7 
Fuel and electricity price7.5 5.7