XML 48 R13.htm IDEA: XBRL DOCUMENT

EQUITY METHOD INVESTMENT	12 Months Ended
EQUITY METHOD INVESTMENT	Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INVESTMENT	EQUITY METHOD INVESTMENT Hod Maden Interest As a result of the Transaction, the Company has a 30% equity interest in Artmin Madencilik Sanayi ve Ticaret A.S (“Artmin”), a privately held company incorporated in Türkiye which owns the Hod Maden project. At December 31, 2025, the carrying value of the Hod Maden equity investment was $249.5 million and is included in Equity method investment on the consolidated balance sheets. The Company applies the equity method to investments when it has the ability to exercise significant influence over the operating and financial policies of the investee. The Company's share of the investee's losses is included in Interest and other expense in the consolidated statement of operations. Loan to Associate As of December 31, 2025, the Company advanced $51.4 million of shareholder loans to Artmin to fund the Company's share of cash calls for ongoing development costs at Hod Maden. The loans bear interest at 4% plus the credit default swap rate of Türkiye at the start of each quarterly period and have five-year terms. At December 31, 2025, the carrying value of the loans is included in Equity method investment on the consolidated balance sheets.