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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities    
Net income for the year $ 140,468 $ 55,757 [1]
Adjustments for:    
Depletion and depreciation 126,429 108,247 [1]
Interest and other finance income (6,545) (11,910) [1]
Interest expense 25,420 30,010 [1]
Income tax expense 40,853 30,372 [1]
Non-cash foreign exchange (gain) loss (159) 2,162 [1]
Loss on redemption of convertible debt 0 5,423 [1]
Other 2,834 11,541 [1]
Net change in operating assets and liabilities 63,059 (64,908) [1]
Cash generated from operating activities before taxes 392,359 166,694 [1]
Income taxes paid (43,744) (20,850) [1]
Cash generated by operating activities 348,615 145,844 [1]
Cash flows from investing activities    
Expenditures on mineral properties, plant and equipment (169,340) (135,768) [1]
Purchases of marketable securities (29,550) (3,435) [1]
Net proceeds from sales of marketable securities 97,098 3,308 [1]
Interest received 3,665 9,697 [1]
Acquisition of non-controlling interest 0 (2,415) [1]
Cash and cash equivalents acquired in Alacer acquisition 270,445 0 [1]
Other 8,472 (1,715) [1]
Cash generated by (used in) investing activities 180,790 (130,328) [1]
Cash flows from financing activities    
Repayment of debt, principal (35,000) 0 [1]
Interest paid (13,679) (11,646) [1]
Redemption of convertible notes (114,994) (152,250) [1]
Proceeds from Issuance of convertible notes, net of transaction costs 0 222,932 [1]
Proceeds from issuance of debt 3,088 0 [1]
Proceeds from exercise of stock options 6,728 7,237 [1]
Settlement of restricted share units ("RSUs") and performance share units ("PSUs") (14,464) 0 [1]
Funding from non-controlling interest 0 3,710 [1]
Lease payments (4,883) (1,076) [1]
Cash (used in) generated by financing activities (173,204) 68,907 [1]
Effect of foreign exchange rate changes on cash and cash equivalents 789 12 [1]
Increase in cash and cash equivalents 356,990 84,435 [1]
Cash and cash equivalents, beginning of year [1] 503,647 419,212
Cash and cash equivalents, end of year $ 860,637 $ 503,647 [1]
[1] See note 2(r)