First Majestic Silver Corp(NYSE:AG) 
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in Mexico. It holds 100% interests in the San Dimas Silver/Gold Mine comprises 119 concessions covering an area of 71,839 hectares located...
Website: http://www.firstmajestic.com
Founded: 2002
Full Time Employees: 4,000
Sector: Basic Materials
Industry: Silver
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At a glance:
- Primary Silver Producer with Meaningful Gold By-Product Exposure: First Majestic Silver Corp is a precious-metals miner best known for silver production, with gold (and other by-products) contributing to revenue and helping diversify cash flows.
- Financial Results Highly Sensitive to Silver and Gold Prices: Earnings, operating cash flow, and valuation tend to move closely with changes in realized metal prices, with leverage to both upside price rallies and downside price drawdowns.
- Operating Performance Driven by Grade, Recovery, and Cost Control: Quarter-to-quarter performance often reflects mine grades, metallurgical recoveries, throughput, and unit costs (e.g., AISC), alongside energy, labor, and consumables inflation.
- Balance Sheet and Liquidity Management Remain Key Investor Focus: Investors typically watch liquidity, debt levels, and capital allocation decisions (sustaining capex vs. growth) to gauge resilience across commodity cycles.
- Regulatory and Jurisdictional Factors Can Influence Risk Profile: Operational and financial outcomes can be affected by permitting, environmental compliance, taxation/royalties, and local community relations in the jurisdictions where it operates.
Bull Thesis:
- Strong Leverage to Rising Silver Prices: As a primary silver producer, First Majestic Silver is highly leveraged to increases in the price of silver. With growing industrial demand, potential for inflation hedging, and safe-haven appeal, a sustained rally in silver prices would significantly boost the company's revenues, margins, and free cash flow.
- Operational Efficiency and Cost Reduction Initiatives: The company has been focused on optimizing its mining operations and implementing cost-saving measures across its portfolio. Successful execution of these initiatives could lead to a reduction in All-in Sustaining Costs (AISC), improving profitability even in a stable silver price environment.
- Exploration Upside and Resource Expansion Potential: First Majestic continues to invest in exploration programs at its key mines (e.g., San Dimas, Santa Elena, La Encantada). Positive exploration results, leading to the discovery of new high-grade zones or expansion of existing reserves, would extend mine life and provide a strong foundation for future production growth.
- Strategic Portfolio Management and Growth Opportunities: The company has demonstrated a willingness to optimize its asset portfolio, divesting non-core assets and focusing on high-potential projects. This strategic approach, coupled with potential for accretive acquisitions, could drive long-term value creation and production growth.
Bear Thesis:
- High Sensitivity to Declining Silver Prices: Conversely, First Majestic's profitability is highly sensitive to downturns in silver prices. A sustained period of lower silver prices, driven by factors such as a strong U.S. dollar, reduced industrial demand, or a global economic slowdown, would severely impact the company's financial performance and cash flow.
- Persistent Inflationary Pressures on Operating Costs: The mining sector is susceptible to inflationary pressures on key inputs such as labor, energy, consumables, and equipment. Rising All-in Sustaining Costs (AISC) due to these factors could erode profit margins, even if silver prices remain stable or experience modest gains.
- Elevated Jurisdictional Risk in Mexico: A significant portion of First Majestic's operations are located in Mexico. The company faces ongoing risks related to changes in mining regulations, increased taxes or royalties, social unrest, and security concerns, which could negatively impact production, increase operating costs, or lead to operational disruptions.
- Production Volatility and Operational Challenges: Mining operations are inherently complex and subject to various risks, including unexpected geological conditions, equipment failures, labor disputes, permitting delays, and lower-than-expected ore grades. These factors can lead to production shortfalls and increased costs, impacting the company's ability to meet guidance.
Main Competitors:
- Pan American Silver Corp. ($PAAS) (Silver and gold mining operations), Pan American Silver is one of the world's largest primary silver producers, operating multiple mines across the Americas. It competes with First Majestic for market share in silver production, investor capital, and access to new projects/resources, often having a more diversified portfolio and larger scale.
- Fortuna Silver Mines Inc. ($FSM) (Silver and gold mining operations), Fortuna Silver Mines is a mid-tier precious metals producer with a significant focus on silver, operating mines in Latin America and West Africa. It competes directly with First Majestic for investor interest in mid-cap silver exposure, operational efficiency, and resource acquisition in similar geographical regions.
- Hecla Mining Company ($HL) (Silver and gold mining operations), Hecla Mining is the largest primary silver producer in the United States and a significant global player. It competes with First Majestic for investor capital seeking exposure to silver, particularly in North American operations, and for access to high-grade silver deposits.
- SSR Mining Inc. ($SSRM) (Gold, silver, and base metals mining operations), SSR Mining is a diversified precious metals producer with significant silver output from its operations, particularly in Mexico and Argentina. It competes with First Majestic for investor attention in the precious metals space, operational excellence, and resource development, often offering a more diversified commodity exposure.
Moat:
First Majestic Silver's primary moat lies in its identity as a pure-play silver producer, offering investors direct and high-leverage exposure to silver price movements. Its competitive advantages include a portfolio of high-grade silver mines, particularly in Mexico, and a commitment to organic growth and strategic acquisitions within the silver sector. Competition is intense, primarily from other mid-tier and major precious metals miners who also produce significant amounts of silver as a primary or co-product. These competitors vie for investor capital, access to new deposits, operational efficiency, and cost control, all critical factors in the cyclical and capital-intensive mining industry. First Majestic differentiates itself by maintaining a high percentage of revenue derived from silver, appealing specifically to investors bullish on the metal's prospects.
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-11-05 | 2025-08-14 | 2025-05-07 | 2025-04-11 | 2025-02-20 | 2024-12-19 | 2024-11-06 | 2024-07-31 | 2024-05-08 | 2024-02-22 | 2023-11-02 | 2023-08-02 | 2023-05-04 | 2023-02-23 | 2022-11-09 | 2022-06-30 | 2022-05-12 | 2022-03-10 | 2021-09-30 | 2021-06-30 | 2021-05-03 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-05 | 2019-05-21 | 2019-04-05 | 2018-12-31 | 2018-11-07 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-05-11 | 2016-02-24 | 2015-11-13 | 2015-08-11 | 2015-05-07 | 2015-02-24 | 2014-11-12 | 2014-08-13 | 2014-03-31 | 2013-09-30 | 2013-06-30 | 2013-05-23 | 2013-03-31 | 2012-12-31 | 2012-09-30 | 2012-09-14 | 2012-08-14 | 2012-03-31 | 2011-12-31 | 2011-09-30 | 2011-08-11 | 2011-04-20 | 2011-03-31 | 2010-12-31 |
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revenues | 285,063,000 | 264,229,000 | 243,942,000 | 560,604,000 | 146,087,000 | 136,166,000 | 106,014,000 | 573,801,000 | 133,211,000 | 146,692,000 | 156,952,000 | 624,221,000 | 159,751,000 | 159,443,000 | 156,838,000 | 584,117,000 | 124,646 | 154,073,000 | 196,654,000 | 100,522,000 | 363,876,000 | 125,881 | 34,855,000 | 86,065,000 | 363,944,000 | 96,989,000 | 83,669,000 | 300,929 | 86,810,000 | 300,929,000 | 88,521,000 | 79,687,000 | 58,593,000 | 252,288,000 | 61,901,000 | 60,116,000 | 69,106,000 | 79,326,000 | 66,509,000 | 219,444,000 | 44,673,000 | 54,190,000 | 54,569,000 | 40,770,000 | 66,927,000 | 76,882,000 | 48,372,000 | 247,177,000 | 67,070,000 | 247,177,000 | 63,581,000 | 54,774,000 | 57,815,000 | 245,514,000 | 61,407,000 | 68,040,000 | 120,765,361 | 55,266,000 | 120,765,361 | ||||||
mine operating costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cost of sales | 131,122,000 | 141,139,000 | 117,717,000 | 122,425 | 344,703,000 | 85,694,000 | 89,096,000 | 80,489,000 | 410,057,000 | 92,187,000 | 104,607,000 | 123,868,000 | 471,687,000 | 120,707,000 | 113,619,000 | 111,213,000 | 366,085,000 | 92,006 | 95,782,000 | 57,061,000 | 194,305,000 | 60,275 | 26,187,000 | 50,781,000 | 232,146,000 | 54,994,000 | 62,772,000 | 219,162 | 59,347,000 | 219,162,000 | 63,966,000 | 59,285,000 | 39,681,000 | 159,265,000 | 40,290,000 | 40,004,000 | 39,662,000 | 38,421,000 | 37,262,000 | 135,674,000 | 30,545,000 | 33,314,000 | 32,336,000 | 154,843,000 | 31,973,000 | 42,727,000 | 35,270,000 | 36,060,000 | 23,891,000 | 79,747,000 | 24,270,000 | 79,747,000 | 20,912,000 | 2,760,002 | 18,456,000 | 16,693,000 | 66,787,000 | 15,473,000 | 18,112,000 | 49,834,491 | 16,819,000 | 49,834,491 | |||
depletion, depreciation and amortization | 54,860,000 | 73,739,000 | 62,420,000 | 124,001,000 | 31,871,000 | 31,608,000 | 25,846,000 | 124,664,000 | 27,998,000 | 32,587,000 | 34,429,000 | 135,782,000 | 35,707,000 | 34,212,000 | 30,556,000 | 116,613,000 | 29,122 | 28,868,000 | 15,345,000 | 54,405,000 | 17,573 | 7,264,000 | 14,169,000 | 65,584,000 | 14,181,000 | 16,691,000 | 93,667 | 17,210,000 | 93,667,000 | 24,701,000 | 22,706,000 | 19,335,000 | 77,045,000 | 18,436,000 | 18,707,000 | 19,448,000 | 20,955,000 | 19,878,000 | 75,039,000 | 17,716,000 | 17,435,000 | 17,237,000 | 10,588,000 | 14,699,000 | 11,645,000 | 10,198,000 | 25,405,000 | 8,196,000 | 25,405,000 | 6,832,000 | 5,259,000 | 5,453,000 | 15,440,000 | 3,467,000 | 3,134,000 | 9,383,782 | 2,804,000 | 9,383,782 | |||||||
mine operating earnings | 99,081,000 | 49,351,000 | 63,805,000 | 91,900,000 | 28,522,000 | 15,462,000 | 25,642,000 | 13,026,000 | 1,138,000 | -6,423,000 | 16,752,000 | 3,337,000 | 11,612,000 | 15,069,000 | 101,419,000 | 3,518 | 29,423,000 | 28,116,000 | 105,054,000 | 48,033 | -7,762,000 | 21,115,000 | 66,214,000 | 27,814,000 | 4,206,000 | 10,253,000 | -11,900,000 | -146,000 | -2,304,000 | -423,000 | 15,978,000 | 3,175,000 | 1,405,000 | 9,996,000 | 19,950,000 | 9,369,000 | 8,731,000 | -3,588,000 | 3,441,000 | 4,996,000 | -1,791,000 | 9,501,000 | 29,177,000 | 14,283,000 | 142,025,000 | 34,604,000 | 142,025,000 | 35,837,000 | 31,059,000 | 35,669,000 | 163,287,000 | 42,467,000 | 46,794,000 | 61,171,416 | 35,643,000 | 61,171,416 | |||||||||
general and administrative expenses | 10,645,000 | 12,510,000 | 12,718,000 | 39,597,000 | 9,440,000 | 9,506,000 | 9,240,000 | 38,709,000 | 10,439,000 | 11,673,000 | 8,448,000 | 36,372,000 | 8,545,000 | 9,380,000 | 10,282,000 | 27,063,000 | 6,213 | 6,901,000 | -2,927,000 | 6,961,000 | 24,855,000 | 5,520 | 5,846,000 | 6,284,000 | 26,800,000 | 6,690,000 | 5,966,000 | 21,428 | 6,500,000 | 21,428,000 | 5,417,000 | 5,201,000 | 4,868,000 | 17,493,000 | 4,521,000 | 4,477,000 | 4,543,000 | 4,559,000 | 3,875,000 | 17,004,000 | 3,878,000 | 4,229,000 | 4,339,000 | 5,270,000 | 4,938,000 | 5,139,000 | 5,798,000 | 7,461,000 | |||||||||||||||||
share-based payments | 4,382,000 | 3,804,000 | 5,502,000 | 13,490,000 | 2,935,000 | 3,418,000 | 4,542,000 | 13,177,000 | 2,762,000 | 3,320,000 | 4,629,000 | 13,958,000 | 3,305,000 | 2,986,000 | 4,822,000 | 12,290,000 | 3,069 | 2,768,000 | 3,594,000 | 8,255,000 | 1,703 | 1,947,000 | 2,378,000 | 8,325,000 | 2,326,000 | 2,017,000 | 7,375 | 2,075,000 | 7,375,000 | 1,669,000 | 2,247,000 | 2,516,000 | 8,295,000 | 1,985,000 | 2,169,000 | 2,291,000 | 1,067,000 | 1,147,000 | 4,926,000 | 1,007,000 | 1,544,000 | 1,609,000 | 743,000 | 1,251,000 | 2,678,000 | 2,648,000 | 3,209,000 | 4,067,000 | 10,646,000 | 4,405,000 | 10,646,000 | 2,546,000 | 2,405,000 | 2,825,000 | 5,948,000 | 937,000 | 1,772,000 | 1,889,000 | |||||||
mine holding costs | 4,400,000 | 5,323,000 | 4,969,000 | 23,666,000 | 6,153,000 | 5,723,000 | 6,297,000 | 22,088,000 | 7,243,000 | 3,718,000 | 3,789,000 | 11,930,000 | 3,690,000 | 2,430,000 | 3,165,000 | 12,056,000 | 3,344 | 2,359,000 | 3,868,000 | 21,583,000 | 4,184 | 5,603,000 | 4,779,000 | 7,579,000 | 1,968,000 | ||||||||||||||||||||||||||||||||||||||||
restructuring costs | 3,556,000 | 6,883,000 | 6,428,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition costs | 5,584,000 | 1,973,000 | 127 | 1,823,000 | 4,893 | 4,893,000 | 4,877,000 | 2,054,000 | 2,740,000 | 2,740,000 | 1,830,000 | 781,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
foreign exchange loss | -2,749,000 | -1,165,000 | 1,676 | -782,000 | 6,319,000 | 5,340 | 6,229,000 | 1,821,000 | -748,000 | 1,874 | -2,369,000 | 1,874,000 | -2,391,000 | 285,000 | 2,296,000 | -2,432,000 | -1,555,000 | 640,000 | 646,000 | 483,000 | 275,000 | 622,000 | 799,000 | 284,000 | 25,000 | ||||||||||||||||||||||||||||||||||||||||
operating earnings | 78,847,000 | 39,482,000 | 35,508,000 | 4,146,000 | -18,850,000 | -39,193,000 | -15,279,000 | 3,415,000 | -2,491,000 | 49,202,000 | -10,911 | 16,354,000 | 15,490,000 | 40,357,000 | 37,707 | 394,000 | 15,009,000 | 3,239,000 | -10,103,000 | -70,996,000 | -899,000 | -4,580,000 | 3,576,000 | 13,498,000 | 6,091,000 | -7,083,000 | -1,862,000 | 363,000 | -6,960,000 | 1,040,000 | 21,161,000 | 4,183,000 | 106,567,000 | 21,965,000 | 106,567,000 | 25,801,000 | 23,171,000 | 28,049,000 | 139,830,000 | 36,914,000 | 41,280,000 | 29,418,000 | |||||||||||||||||||||||
investment and other income | -5,418,000 | 6,334,000 | 505,000 | 5,361,000 | 528,000 | 3,916,000 | -358,000 | 9,149,000 | 1,275,000 | 3,644,000 | 3,225,000 | 360,000 | -3,918,000 | 2,632,000 | -2,948,000 | -4,863 | 4,329,000 | -3,150,000 | 5,127,000 | 2,741 | 5,259,000 | -540,000 | 8,109,000 | 4,703,000 | -87,000 | 2,018,000 | -1,418,000 | 1,038,000 | -1,459,000 | -34,000 | 625,000 | -1,100,000 | 176,000 | 981,000 | -44,000 | -34,000 | 1,570,000 | -1,345,000 | 1,792,000 | -1,136,000 | 10,625,000 | 1,314,000 | 6,715,000 | 11,958,000 | 6,715,000 | 5,389,000 | 5,581,000 | 381,000 | 3,022,113 | 3,022,113 | |||||||||||||||
finance costs | -7,111,000 | -7,798,000 | -6,963,000 | -28,060,000 | -6,858,000 | -7,335,000 | -7,084,000 | -26,280,000 | -6,739,000 | -7,326,000 | -5,623,000 | -20,323,000 | -5,236,000 | -4,835,000 | -4,590,000 | -21,004,000 | -4,027 | -4,127,000 | -3,773,000 | -14,773,000 | -3,650 | -3,550,000 | -3,856,000 | -3,760,000 | -3,742,000 | -3,705,000 | -13,036,000 | -3,390,000 | -3,799,000 | -2,459,000 | -4,271,000 | -1,033,000 | -1,016,000 | -1,170,000 | -1,090,000 | -4,695,000 | -5,810,000 | -1,134,000 | -1,242,000 | -1,423,000 | -1,680,000 | ||||||||||||||||||||||||
earnings before income taxes | 66,318,000 | 38,018,000 | 29,050,000 | -61,404,000 | -20,155,000 | -5,338,000 | -4,449,000 | 25,250,000 | -19,801 | 16,556,000 | 8,567,000 | 29,729,000 | 44,339 | -26,656,000 | 15,952,000 | 1,552,000 | -14,021,000 | -75,301,000 | -1,307,000 | -6,696,000 | 2,582,000 | 13,389,000 | 1,352,000 | -6,647,000 | -4,449,000 | 732,000 | -9,776,000 | 9,675,000 | 21,950,000 | 1,022,000 | 110,989,000 | 33,399,000 | 110,989,000 | 30,689,000 | 19,076,000 | 33,231,000 | 137,537,000 | 35,129,000 | 41,273,000 | 32,775,000 | |||||||||||||||||||||||||
income taxes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current income tax expense | 27,981,000 | 21,087,000 | 15,087,000 | 31,997,000 | 11,174,000 | 7,879,000 | 14,005,000 | 5,348,000 | 65,000 | 56,250,000 | 14,270,000 | 25,450,000 | 11,492,000 | 49,283,000 | 6,678 | 10,325,000 | 8,537,000 | 9,966,000 | 3,842 | 795,000 | 1,214,000 | 16,423,000 | 1,972,000 | 500,000 | 2,148 | 3,464,000 | 2,148,000 | 1,680,000 | 694,000 | 7,177,000 | 590,000 | 1,663,000 | 782,000 | 1,540,000 | 948,000 | 2,200,000 | 129,000 | 1,269,000 | 143,000 | 370,000 | 2,398,000 | 303,000 | 4,429,000 | 1,160,000 | 4,429,000 | 1,031,000 | 4,849,000 | 10,920,000 | 2,120,000 | 9,445,000 | 4,223,000 | ||||||||||||||
deferred income tax (recovery) expense | -4,625,000 | -39,648,000 | -10,346,000 | -8,073 | -1,825,000 | -6,254,000 | -29,206,000 | -577,000 | -9,771,000 | -920,000 | -4,996,000 | -3,140,000 | -27,607,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings for the period | 42,962,000 | 56,579,000 | 6,240,000 | -100,660,000 | -84,050,000 | 7,285,000 | -18,406 | 15,599,000 | 1,855,000 | 30,946 | -32,436,000 | 8,559,000 | 2,880,000 | 5,904,000 | -40,033,000 | -5,592,000 | -1,320,000 | 1,412,000 | 2,720,000 | 8,115,000 | -1,780,000 | -2,578,000 | -1,105,000 | -10,450,000 | 7,590,000 | 16,320,000 | 160,000 | 26,517,000 | 24,869,000 | 15,321,000 | |||||||||||||||||||||||||||||||||||
net earnings attributable to: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
owners of the company | 26,978,000 | 52,548,000 | 2,263,000 | 36,022,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-controlling interest | 15,984,000 | 4,031,000 | 3,977,000 | 3,850,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per common share attributable to owners of the company | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 60 | 110 | 10 | -370 | -80 | -320 | 30 | -20 | -0.07 | 60 | 10 | 110 | 0.14 | -50 | -150 | 40 | 10 | 30 | -220 | -30 | -320 | -10 | 10 | -10 | -20 | -10 | -90 | 60 | 140 | 800 | 230 | 800 | 220 | 140 | 250 | 1,000 | 270 | 300 | 0.39 | 240 | 0.39 | ||||||||||||||||||||||||
diluted | 60 | 110 | 10 | -370 | -80 | -320 | 30 | -20 | -0.07 | 60 | 10 | 110 | 0.14 | -50 | -150 | 40 | 10 | 30 | -220 | -30 | -320 | -10 | 10 | -10 | -20 | -10 | -90 | 60 | 140 | 790 | 230 | 790 | 210 | 140 | 240 | 960 | 260 | 290 | 0.37 | 230 | 0.37 | ||||||||||||||||||||||||
weighted average shares outstanding | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 488,722,642,000 | 260,199,875,000 | 244,749,772,000 | 256,363,759 | 242,781,479,000 | 222,544,712,000 | 213,879,622,000 | 214,919,070 | 209,645,317,000 | 209,396,052,000 | 203,777,091,000 | 200,965,605,000 | 195,832,712,000 | 183,650,405,000 | 193,570,469,000 | 181,126,340,000 | 165,819,786,000 | 165,293,893,000 | 165,504,932,000 | 165,117,436,000 | |||||||||||||||||||||||||||||||||||||||||||||
diluted | 492,697,444,000 | 262,590,216,000 | 244,749,772,000 | 256,363,759 | 245,837,994,000 | 225,772,720,000 | 215,878,829,000 | 233,794,570 | 209,645,317,000 | 209,396,052,000 | 205,960,008,000 | 200,965,605,000 | 196,745,512,000 | 183,650,405,000 | 194,595,224,000 | 181,126,340,000 | 165,819,786,000 | 165,293,893,000 | 165,504,932,000 | 167,466,952,000 | |||||||||||||||||||||||||||||||||||||||||||||
foreign exchange (gain) loss | -11,768,000 | -11,884,000 | -5,952,000 | -662,000 | -1,512,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average shares outstanding | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 485,086,253,000 | 453,063,479,000 | 295,544,681,000 | 301,000,656,000 | 292,027,581,000 | 287,210,710,000 | 282,331,106,000 | 286,921,720,000 | 280,993,803,000 | 274,220,112,000 | 263,122,252,000 | 262,865,860,000 | 262,680,950,000 | 201,615,489,000 | 183,650,405 | 122,237,619,000 | 121,097,717,000 | 117,594,640,000 | 117,511,442,000 | 117,490,053,000 | 116,903,753,000 | 116,921,685,000 | 110,775,284,000 | 116,895,218,000 | 110,775,284,000 | 115,307,418,000 | 105,798,950,000 | 105,440,048,000 | 103,276,935,000 | 104,583,335,000 | 103,396,753,000 | 93,587,581 | 99,872,077,000 | 93,587,581 | |||||||||||||||||||||||||||||||
diluted | 488,580,386,000 | 456,411,599,000 | 295,544,681,000 | 301,000,656,000 | 292,027,581,000 | 287,210,710,000 | 282,331,106,000 | 286,921,720,000 | 280,993,803,000 | 274,220,112,000 | 263,122,252,000 | 262,865,860,000 | 262,680,950,000 | 201,615,489,000 | 183,650,405 | 122,237,619,000 | 121,097,717,000 | 117,594,640,000 | 117,511,442,000 | 117,622,304,000 | 117,329,281,000 | 117,323,403,000 | 112,859,088,000 | 117,850,571,000 | 112,859,088,000 | 117,049,419,000 | 107,651,504,000 | 109,314,773,000 | 107,368,050,000 | 107,726,703,000 | 107,279,976,000 | 98,857,498 | 105,817,560,000 | 98,857,498 | |||||||||||||||||||||||||||||||
foreign exchange gain | -476,000 | -1,575 | 18,902,000 | 5,848,000 | 11,133,000 | -1,157,000 | 2,642,000 | -5,643,000 | 637,000 | 3,076,000 | 986,000 | -709,000 | 81,000 | -1,797,000 | -2,826,000 | -4,314,000 | -661,000 | -414,000 | 826,000 | -1,744,000 | -3,266,000 | -1,567,000 | 88,000 | 18,030 | 18,030 | ||||||||||||||||||||||||||||||||||||||||
deferred income tax expense | 7,723,000 | 43,434,000 | 13,235,000 | 22,635,000 | 3,729,000 | 53,262,000 | 9,551 | 4,566,000 | 5,421,000 | 4,215,000 | 3,734,000 | 7,837,000 | 1,694,000 | 304,000 | 445,000 | 5,851,000 | 559,000 | 17,662,000 | 5,722,000 | 17,662,000 | 4,789,000 | 6,827,000 | 2,024,000 | 23,043,000 | 5,237,000 | 1,235,000 | 4,682,000 | ||||||||||||||||||||||||||||||||||||||
revenue | 352,910 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
yoy | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
qoq | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
royalties | 2,334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
exploration | 6,959 | 1,870,375 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
general and administrative | 16,349 | 10,787,267 | 10,787,267 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation, depletion and amortization | 75,268 | -6,801,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total expenses | 223,335 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other income | 562 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest expense | 939 | -1,404,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest income | -1,631 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accretion expense | 869 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income before taxes | 130,411 | 47,012,019 | 47,012,019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income tax expense | 39,087 | 5,274,000 | 10,459,047 | 10,459,047 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income and comprehensive income | 91,324 | 39,872,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cost of sales - standby costs | 13,438,000 | 8,360,000 | 5,078,000 | 10,112,000 | 9,166,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
write down on asset held-for-sale | 7,229,000 | 7,229,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
impairment of non-current asset | 125,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on sale of mining interest | 1,646,000 | 1,378,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating income | -3,755,000 | -14,318,000 | -19,243,000 | -178,784,000 | -18,134,000 | -144,224,000 | -27,387,000 | -3,423,000 | -249,267,000 | -6,314,000 | -46,574,000 | -120,408,000 | 45,835,516 | 45,835,516 | |||||||||||||||||||||||||||||||||||||||||||||||||||
yoy | -80.49% | -86.66% | 700.09% | -45.79% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
qoq | -25.59% | -89.24% | 885.90% | 3847.85% | -86.44% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating margin % | NaN% | NaN% | NaN% | 0% | -Infinity% | NaN% | NaN% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | NaN% | -Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | -Infinity% | NaN% | NaN% | NaN% | -Infinity% | NaN% | NaN% | -Infinity% | -Infinity% | -Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | -Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | Infinity% | NaN% | Infinity% |
income before income taxes | -26,454,000 | -2,184,000 | -17,737,000 | -26,685,000 | -195,915,000 | -23,598,000 | -22,532,000 | -146,622,000 | 41,672,000 | -15,427,000 | -7,252,000 | -263,047,000 | -11,122,000 | -49,335,000 | -126,252,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
net income for the year | -101,885,000 | -135,112,000 | -114,276,000 | -108,424,000 | 36,104,945 | 36,104,945 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss per common share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | -340 | -90 | -170 | -50 | -480 | -90 | -60 | -430 | -60 | -1,110 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
diluted | -340 | -90 | -170 | -50 | -480 | -90 | -60 | -430 | -60 | -1,110 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income for the period | -26,593,000 | -48,251,000 | -13,563,000 | -27,149,000 | -17,534,000 | -20,692,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
mine operating income | -321,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current income tax (recovery) expense | -2,346,000 | -178,000 | -950,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred income tax recovery | -10,776,000 | -74,808,000 | -46,027,000 | -3,378,000 | -13,733,000 | -23,226,000 | -19,110,000 | -9,368,000 | -1,505,000 | -3,324,000 | -4,792,000 | -61,031,000 | -16,076,000 | -10,982,000 | -9,123,000 | -20,028,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
impairment (reversal of impairment) of non-current asset | 125,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale of mining interest | 3,024,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
impairment (reversal) of non-current asset | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per common share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 60 | 110 | 10 | -370 | -80 | -320 | 30 | -20 | -0.07 | 60 | 10 | 110 | 0.14 | -50 | -150 | 40 | 10 | 30 | -220 | -30 | -320 | -10 | 10 | -10 | -20 | -10 | -90 | 60 | 140 | 800 | 230 | 800 | 220 | 140 | 250 | 1,000 | 270 | 300 | 0.39 | 240 | 0.39 | ||||||||||||||||||||||||
diluted | 60 | 110 | 10 | -370 | -80 | -320 | 30 | -20 | -0.07 | 60 | 10 | 110 | 0.14 | -50 | -150 | 40 | 10 | 30 | -220 | -30 | -320 | -10 | 10 | -10 | -20 | -10 | -90 | 60 | 140 | 790 | 230 | 790 | 210 | 140 | 240 | 960 | 260 | 290 | 0.37 | 230 | 0.37 | ||||||||||||||||||||||||
reversal of impairment | -2,651,000 | -7,585,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale of royalty portfolio | -4,301,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment and other loss | -1,888,000 | -744,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
mine operating costs - sum | 141,769,000 | 482,698,000 | 121,128 | 124,650,000 | 72,406,000 | 258,822,000 | 77,848 | 42,617,000 | 64,950,000 | 297,730,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
income taxes - sum | -11,734,000 | 30,173,000 | -1,395 | 957,000 | 6,712,000 | 6,642,000 | 13,393 | -5,459,000 | 5,780,000 | 6,873,000 | 8,905,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on divestiture of exploration projects | 3,685,000 | -6,421 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized loss on foreign currency derivatives | -22,654,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings for the year | -4,923,000 | 23,087,000 | -53,272,000 | 88,898,000 | 88,898,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized gain on foreign currency derivatives | 7,541 | 10,251,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cost of gold sold | -142,997,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gross margin | 46,856,000 | 40,905,000 | 29,247,000 | 83,770,000 | 14,128,000 | 20,876,000 | 22,233,000 | 8,797,000 | 24,200,000 | 40,822,000 | 24,481,000 | 167,430,000 | 42,800,000 | 167,430,000 | 42,669,000 | 36,318,000 | 41,122,000 | 178,727,000 | 45,934,000 | 49,928,000 | 38,447,000 | ||||||||||||||||||||||||||||||||||||||||||||
yoy | 95.94% | 31.55% | 60.60% | -13.74% | -64.07% | -85.55% | -75.62% | -42.63% | 17.85% | 307.15% | -76.13% | -27.26% | 364.87% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
qoq | 39.86% | -65.09% | 492.94% | -32.32% | -6.10% | -63.65% | 66.75% | -85.38% | 291.19% | -74.44% | 292.39% | -11.68% | -76.99% | 289.10% | -8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||
gross margin % | NaN% | NaN% | NaN% | 0% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | NaN% | Infinity% | Infinity% | NaN% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | NaN% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | NaN% | Infinity% | NaN% |
exploration expenditures | -843,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from operations before the following | 43,086,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accretion of asset retirement obligation | -906,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accretion of promissory note payable | -1,155,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on disposal of assets | 227,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized gain on marketable securities | 2,021,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
realized loss on marketable securities | -278,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other income - sum | -1,414,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current income tax recovery | -295,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income tax recovery | -1,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income attributable to | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income | 39,872,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
yoy | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
qoq | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income margin % | NaN% | NaN% | NaN% | 0% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% |
income per share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
— basic and diluted attributable to owners of the company | 360.22 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of shares outstanding | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
— basic and diluted | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
impairment of non-current assets | 58,739,000 | 199,688 | 199,688,000 | 31,660,000 | 65,500,000 | 108,421,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fair value adjustment on foreign currency derivatives | -982,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on sale of exploration project | 10,106,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net loss for the period | -9,968,000 | -11,967,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net loss for the year | -204,164,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
mine care and maintenance costs | 394,000 | 2,109 | 808,000 | 2,109,000 | 1,473,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income tax (recovery) expense | -138,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per share | 0.02 | 0.05 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
production | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ore processed/tonnes milled | 155,696,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
average silver grade | 228,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
recovery | 81,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total silver ounces produced | 923,597,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total payable silver ounces produced | 875,967,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gold ounces produced | 8,181,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total production - ounces silver equivalent | 1,523,688,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
underground development | 7,581,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
diamond drilling | 21,771,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cost | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
mining cost per ounce | 6,190 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
milling cost per ounce | 3,050 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
indirect cost per ounce | 4,520 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total production cost per ounce | 13,760 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
transport and other selling costs per ounce | 530 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
smelting and refining costs per ounce | 3,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
environmental duty and royalties per ounce | 150 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash cost per ounce before by-product credits | 18,150 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deduct: by-product credits | -10,920 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash cost per ounce | 7,230 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
workers’ participation | 170 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accretion of decommissioning liabilities | 90 | 177,000 | 192,000 | 197,000 | 217,000 | 203,000 | 205,000 | 56,000 | 130,000 | 147,000 | 472,000 | 127,000 | 472,000 | 133,000 | 99,000 | 103,000 | 435,000 | 107,000 | 112,000 | 119,000 | |||||||||||||||||||||||||||||||||||||||||||||
sustaining capital expenditures | 5,850 | 18,808,000 | 4,398,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
all-in sustaining costs per ounce | 13,330 | 15,500 | 13,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
mining cost per tonne | 34,840 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
milling cost per tonne | 17,140 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
indirect cost per tonne | 25,450 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total production cost per tonne | 77,430 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income and comprehensive loss for the period | -7,433,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss per common share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic and diluted | -50 | -840 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average shares outstanding | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic and diluted | 155,692,432,000 | 129,117,653,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
except ounce and per ounce amounts) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
add (deduct): cost of sales for vancouver, europe and intercompany elimination | -757,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
third party smelting and refining | 1,526,000 | 379,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other non-cash costs | -160,000 | -3,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
inventory changes | -3,895,000 | -292,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
by-product credits | -231,000 | -31,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
all-in sustaining costs | 57,314,000 | 14,238,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
expansionary capital expenditures | 6,901,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
all-in costs | 64,215,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payable ounces of silver produced | 3,696,786,000 | 1,039,398,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
revenues as reported | 72,480,000 | 65,296,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
add back: smelting and refining charges | 8,418,000 | 5,803,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gross revenues | 80,898,000 | 71,099,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payable equivalent silver ounces sold | 4,961,920,000 | 3,401,515,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
average realized price per ounce of silver sold | 16,300 | 20,900 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
average market price per ounce of silver per comex | 16,450 | 20,460 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net loss as reported | -64,568,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments for non-cash or unusual items: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
impairment of mining interests and goodwill | 101,950,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss from fair value adjustment of prepayment facility | -5,966,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss from investment in silver futures and marketable securities | 84,000 | -1,102,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(recovery) write-down of mineral inventory | -1,419,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain from value added tax settlement | 733,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
write-down of afs marketable securities | 263,000 | -1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on divestiture of subsidiary | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain from first silver litigation, net of fees | -168,000 | -156,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain from termination fee on orko acquisition | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjusted net earnings | 4,213,000 | 6,546,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of shares on issue - basic | 117,543,961,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjusted eps | 40 | 60 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
add (deduct): cost of sales for vancouver, europe and | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
intercompany elimination | -167,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings as reported | 5,980,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain from fair value adjustment of prepayment facility | -1,425,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of shares on issue-basic | 117,227,432,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
general and administrative expense | 21,774,000 | 21,774,000 | 5,044,000 | 5,095,000 | 4,417,000 | 15,969,000 | 3,043,000 | 3,638,000 | 3,890,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
sales | 1,951,286 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
administration | 6,456,929 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
share-based compensation | 336,240 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
allowance for value added tax receivable | 873,659 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating expenses - sum | 9,537,203 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale of mineral property interests | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest and other income | 30,962 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net loss before income taxes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
current | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
foreign exchange translation reserve | 856,558 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total comprehensive loss for the period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss per share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic and diluted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding | 257,565,959 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings for the period attributable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
to equity holders of the company | 26,358,000 | 27,772,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other expenses | 483,000 | 302,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings for the year attributable to equity holders of the company | 103,574,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other incomes | 667,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings for the period attributable to equity holders of the company | 30,593,000 | 23,870,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accretion of reclamation obligation | 375,672 | 375,672 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock-based compensation | 4,548,633 | 4,548,633 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
write-down of mineral properties | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest and other incomes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
impairment of marketable securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income tax expense - current | 448,027 | 448,027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment income | 3,475,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-11-05 | 2024-04-11 | 2022-05-12 | 2022-03-10 | 2021-09-30 | 2021-06-30 | 2021-05-03 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-05 | 2019-05-21 | 2019-04-05 | 2018-12-31 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-05-11 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2015-02-24 | 2014-12-31 | 2014-11-12 | 2014-09-30 | 2014-06-30 | 2013-09-30 | 2013-06-30 | 2013-05-23 | 2013-03-31 | 2012-12-31 | 2012-09-14 | 2012-08-14 | 2012-06-30 | 2012-03-31 | 2011-12-31 | 2011-09-30 | 2011-08-11 | 2011-06-30 | 2011-03-31 | 2010-12-31 | 2010-04-20 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||
current assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 435,355 | 138,061,000 | 192,801,000 | 237,926,000 | 192,810,000 | 227,109,000 | 2,226,000 | 201,684,000 | 238,578,000 | 232,436,000 | 95,230,000 | 145,187,000 | 169,009,000 | 118,624 | 94,539 | 57,013 | 91,457 | 57,013 | 109,228 | 249,239 | 118,141 | 120,794 | 126,899 | 127,605 | 129,049,000 | 122,478 | 61,733 | 61,733,000 | 51,018,000 | 26,105,000 | 37,742,000 | 22,384,000 | 40,345,000 | 40,345,000 | 34,729,000 | 34,729,000 | 66,694,000 | 67,515,000 | 78,924,000 | 111,591,000 | 110,050,000 | 111,591,000 | 7,243,516,000 | 70,890,000 | 70,890,000 | 85,333,000 | 91,184,000 | 106,222,000 | 104,978,000 | 104,978,000 | 5,890,000 | 40,940,704 | 40,940,704 |
trade and other receivables | 39,307 | 10,377,000 | 7,729,000 | 5,540,000 | 8,989,000 | 3,780,000 | 4,271,000 | 5,134,000 | 1,506,000 | 3,544,000 | 4,295,000 | 6,922 | 7,743 | 5,599 | 7,929 | 5,599 | 5,629 | 24,482 | 20,362 | 17,929 | 14,645 | 14,622 | 16,473,000 | 24,465 | 24,500 | 24,500,000 | 24,491,000 | 13,545,000 | 14,178,000 | 15,526,000 | 13,561,000 | 13,561,000 | 15,614,000 | 15,614,000 | 17,986,000 | 22,610,000 | 20,620,000 | 19,598,000 | 20,509,000 | 19,598,000 | 936,925,000 | 16,430,000 | 16,430,000 | 14,431,000 | 15,593,000 | 12,738,000 | 10,534,000 | 10,534,000 | 8,901,000 | ||||
value added taxes receivable | 43,866 | 32,111,000 | 46,531,000 | 57,378,000 | 76,443,000 | 48,256,000 | 41,641,000 | 38,965,000 | 31,431,000 | 28,598,000 | 29,637,000 | 38,035 | 46,862 | 59,665 | 49,862 | 59,665 | 49,737 | ||||||||||||||||||||||||||||||||||||
inventories | 96,232 | 65,368,000 | 60,613,000 | 71,760,000 | 52,223,000 | 19,324,000 | 36,079,000 | 32,512,000 | 30,520,000 | 43,539,000 | 33,414,000 | 30,517,000 | 30,442 | 28,706 | 32,468 | 27,358 | 32,468 | 29,229 | 18,182 | 18,858 | 17,789 | 17,374 | 18,593 | 20,254,000 | 20,094 | 20,199 | 20,199,000 | 22,204,000 | 15,794,000 | 16,144,000 | 16,690,000 | 17,649,000 | 17,649,000 | 33,164,000 | 33,164,000 | 24,234,000 | 26,510,000 | 31,884,000 | 23,641,000 | 23,971,000 | 23,641,000 | 3,222,736,000 | 19,426,000 | 19,426,000 | 18,313,000 | 14,661,000 | 11,639,000 | 10,161,000 | 10,161,000 | 3,812,000 | 8,604,399 | 8,604,399 | |
other financial assets | 139,851 | 28,079,000 | 26,486,000 | 23,482,000 | 37,818,000 | 31,681,000 | 36,319,000 | 33,620,000 | 16,659,000 | 9,007,000 | 7,488,000 | 6,446 | 7,641 | 8,458 | 8,379 | 8,458 | 9,016 | 8,692 | 11,326 | 11,942 | 11,576 | 13,780 | 13,688,000 | 17,021 | 7,751 | 7,751,000 | 5,701,000 | 2,268,000 | 2,468,000 | 3,855,000 | 2,460,000 | 2,460,000 | 2,338,000 | 2,338,000 | 3,425,000 | 3,785,000 | 5,371,000 | 7,237,000 | 6,307,000 | 7,237,000 | 10,528,000 | 10,528,000 | 10,259,000 | 4,865,000 | 7,985,000 | 8,335,000 | 8,335,000 | ||||||
prepaid expenses and other | 15,721 | 9,589,000 | 5,352,000 | 5,487,000 | 6,200,000 | 4,826,000 | 2,725,000 | 3,467,000 | 4,249,000 | 4,268,000 | 2,033,000 | 2,816 | 3,097 | 2,089 | 3,801 | 2,089 | 2,795 | 3,958 | 1,478 | 1,740 | 1,355 | 1,807 | 735,000 | 918 | 1,795 | 1,795,000 | 1,371,000 | 2,785,000 | 1,798,000 | 2,084,000 | 2,340,000 | 2,321,000 | 2,186,000 | 2,860,000 | 2,186,000 | 574,176,000 | 2,147,000 | 2,147,000 | 2,369,000 | 1,535,000 | 1,947,000 | 2,782,000 | 2,782,000 | 1,468,000 | 1,918,736 | 1,918,736 | |||||||
total current assets | 770,332 | 140,147,000 | 351,085,000 | 397,207,000 | 400,123,000 | 409,242,000 | 33,601,000 | 329,738,000 | 356,046,000 | 344,142,000 | 192,894,000 | 224,018,000 | 242,979,000 | 204,615 | 190,152 | 166,274 | 189,183 | 166,274 | 205,634 | 304,725 | 170,658 | 171,818 | 173,640 | 181,406 | 180,199,000 | 186,813 | 117,545 | 117,545,000 | 104,785,000 | 60,497,000 | 72,330,000 | 61,866,000 | 75,352,000 | 75,352,000 | 87,756,000 | 87,756,000 | 118,074,000 | 129,326,000 | 145,912,000 | 172,917,000 | 174,209,000 | 172,917,000 | 16,336,708,000 | 128,882,000 | 128,882,000 | 141,975,000 | 137,572,000 | 140,531,000 | 136,790,000 | 136,790,000 | 20,071,000 | 62,088,941 | 62,088,941 |
non-current assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||
mining interests | 2,674,915 | 1,065,706,000 | 1,048,530,000 | 987,869,000 | 967,196,000 | 537,547,000 | 509,730,000 | 481,783,000 | 466,204,000 | 463,005,000 | 463,391,000 | 463,691 | 453,088 | 435,613 | 444,659 | 435,613 | 536,312 | 380,193 | 374,146 | 406,687 | 398,778 | 395,978 | 390,409,000 | 386,880 | 384,911 | 384,911,000 | 387,337,000 | 428,524,000 | 428,704,000 | 426,199,000 | 422,663,000 | 422,663,000 | 487,621,000 | 487,621,000 | 475,762,000 | 429,784,000 | 417,291,000 | 372,941,000 | 395,082,000 | 372,941,000 | 17,394,122,000 | 197,368,000 | 197,368,000 | 176,755,000 | 157,865,000 | 145,122,000 | 131,350,000 | 131,350,000 | 166,400,000 | ||||
property, plant and equipment | 554,009 | 447,215,000 | 449,237,000 | 486,849,000 | 481,520,000 | 257,717,000 | 258,220,000 | 246,445,000 | 241,577,000 | 238,469,000 | 236,639,000 | 260,490 | 258,148 | 251,084 | 253,359 | 251,084 | 303,804 | 186,569 | 192,052 | 221,612 | 225,883 | 231,231 | 237,638,000 | 237,566 | 251,535 | 251,535,000 | 259,741,000 | 255,658,000 | 258,728,000 | 261,623,000 | 267,038,000 | 267,038,000 | 293,518,000 | 293,518,000 | 290,689,000 | 280,138,000 | 255,400,000 | 220,212,000 | 232,878,000 | 220,212,000 | 24,683,870,000 | 163,464,000 | 163,464,000 | 140,975,000 | 129,040,000 | 113,130,000 | 92,109,000 | 92,109,000 | 60,798,000 | ||||
right-of-use assets | 18,369 | 28,297,000 | 29,225,000 | 29,351,000 | 28,763,000 | 13,297,000 | 14,330,000 | 12,191,000 | 12,851,000 | 13,508,000 | 12,034,000 | 5,912 | 3,785 | 3,869 | |||||||||||||||||||||||||||||||||||||||
deposits on non-current assets | 6,564 | 13,624,000 | 10,949,000 | 10,631,000 | 10,804,000 | 11,349,000 | 14,246,000 | 6,785,000 | 6,196,000 | 2,275,000 | 2,189,000 | 2,675 | 2,214 | 3,464 | 3,613 | 3,464 | 2,862 | 1,651 | 869 | 1,052 | 864 | 699 | 783,000 | 2,735 | 3,526 | 3,526,000 | 3,484,000 | 2,859,000 | 3,474,000 | 4,130,000 | 2,917,000 | 2,917,000 | 3,145,000 | 3,145,000 | |||||||||||||||||||
non-current restricted cash | 133,416 | 131,383,000 | 115,012,000 | 66,997,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
non-current value added taxes receivable | 10,870 | 7,902,000 | 572,000 | 580,000 | 595,000 | 17,036,000 | 15,301,000 | ||||||||||||||||||||||||||||||||||||||||||||||
deferred tax assets | 62,025 | 88,206,000 | 74,257,000 | 69,088,000 | 67,218,000 | 68,014,000 | 69,644,000 | 81,465,000 | 84,070,000 | 84,502,000 | 51,141,000 | 46,181 | 45,609 | 50,938 | 53,893 | 50,938 | 62,897 | 46,283 | 43,716 | 36,411 | 36,459 | 38,425 | 48,146,000 | 43,667 | 37,063 | 37,063,000 | 34,353,000 | 666,000 | 15,367,000 | 16,169,000 | 12,619,000 | 6,911,000 | 12,619,000 | 4,788,696,000 | 8,883,000 | 8,883,000 | 7,208,000 | 8,331,000 | |||||||||||||||
total assets | 4,235,500 | 422,571,000 | 2,133,418,000 | 2,124,989,000 | 2,051,488,000 | 2,032,330,000 | 266,238,000 | 1,234,698,000 | 1,237,517,000 | 1,189,225,000 | 1,019,837,000 | 1,041,457,000 | 1,027,924,000 | 1,002,335 | 972,210 | 926,110 | 967,605 | 926,110 | 1,131,446 | 919,421 | 781,441 | 837,580 | 835,624 | 847,739 | 857,175,000 | 857,661 | 794,580 | 794,580,000 | 789,700,000 | 750,475,000 | 766,239,000 | 757,117,000 | 771,342,000 | 771,342,000 | 875,412,000 | 875,412,000 | 890,896,000 | 888,094,000 | 870,333,000 | 813,031,000 | 848,493,000 | 813,031,000 | 66,788,823,000 | 510,410,000 | 510,410,000 | 480,883,000 | 443,312,000 | 414,626,000 | 371,830,000 | 371,830,000 | 251,575,000 | 321,468,020 | 321,468,020 |
liabilities and equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
current liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||
trade and other payables | 188,625 | 124,306,000 | 120,666,000 | 112,731,000 | 105,814,000 | 69,344,000 | 76,002,000 | 51,822,000 | 50,637,000 | 54,977,000 | 59,123,000 | 49,069 | 55,004 | 50,183 | 49,424 | 50,183 | 55,221 | 33,293 | 35,567 | 27,582 | 24,631 | 26,856 | 28,194,000 | 21,766 | 39,286 | 39,286,000 | 41,899,000 | 39,988,000 | 34,681,000 | 35,613,000 | 40,360,000 | 40,360,000 | 37,932,000 | 37,932,000 | 33,534,000 | 26,878,000 | 37,506,000 | 37,398,000 | 42,406,000 | 37,398,000 | 5,041,812,000 | 23,895,000 | 23,895,000 | 27,499,000 | 22,433,000 | ||||||||
unearned revenue | 7,621 | 9,521,000 | 12,226,000 | 4,391,000 | 8,544,000 | 2,025,000 | 2,717,000 | 3,378,000 | 19,000 | 257,000 | 4,486,000 | 1,317 | 143 | 3,769 | 4,168 | 3,769 | 956 | 3,061 | 2,190 | 1,328 | 1,200 | 646 | 2,539,000 | 1,426 | 1,612 | 1,612,000 | 2,231,000 | ||||||||||||||||||||||||||
current portion of debt facilities | 533 | 334,000 | 125,000 | 383,000 | 1,100,000 | 10,400,000 | 10,975,000 | 10,011,000 | 10,556,000 | 437,000 | 1,175,000 | 433 | 1,252 | 1,281 | 444 | 1,281 | 1,555 | 29,086 | 12,464 | 12,339 | 12,488 | 12,361 | 12,378,000 | 12,504 | 9,342 | 9,342,000 | 1,566,000 | 2,280,000 | 2,280,000 | 1,547,000 | |||||||||||||||||||||||
current portion of lease liabilities | 13,858 | 11,813,000 | 11,825,000 | 10,815,000 | 9,826,000 | 4,944,000 | 5,358,000 | 5,628,000 | 6,017,000 | 6,329,000 | 6,920,000 | 4,590 | 4,302 | 4,269 | |||||||||||||||||||||||||||||||||||||||
income taxes payable | 17,313 | 10,694,000 | 27,980,000 | 9,326,000 | 7,683,000 | 5,741,000 | 6,574,000 | 2,743,000 | 520,000 | 149,000 | 3,416 | 383,000 | 618,000 | 2,513,000 | 2,674,000 | 105,000 | 105,000 | 723,000 | 723,000 | 2,044,000 | 4,267,000 | 4,485,000 | 4,377,000 | 4,368,000 | 4,377,000 | 2,932,000 | 2,932,000 | ||||||||||||||||||||||||||
total current liabilities | 227,950 | 156,668,000 | 172,822,000 | 137,646,000 | 132,967,000 | 134,673,000 | 96,903,000 | 101,626,000 | 77,462,000 | 78,650,000 | 84,192,000 | 71,853,000 | 55,409 | 60,701 | 58,137 | 58,305 | 58,137 | 64,278 | 69,110 | 54,375 | 45,543 | 42,743 | 44,589 | 49,572,000 | 43,056 | 59,696 | 59,696,000 | 89,201,000 | 73,491,000 | 73,255,000 | 74,464,000 | 78,222,000 | 78,222,000 | 76,360,000 | 76,360,000 | 71,987,000 | 59,770,000 | 65,546,000 | 57,230,000 | 65,939,000 | 57,230,000 | 6,058,561,000 | 34,303,000 | 34,303,000 | 33,657,000 | 27,869,000 | 39,428,000 | 35,869,000 | 35,869,000 | 15,266,000 | 13,966,064 | 13,966,064 | |
non-current liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||
debt facilities | 216,220 | 183,225,000 | 181,108,000 | 186,390,000 | 154,665,000 | 143,314,000 | 141,733,000 | 140,145,000 | 138,580,000 | 146,305,000 | 154,643,000 | 152,994 | 151,366 | 148,231 | 149,781 | 148,231 | 145,138 | 125,706 | 19,305 | 22,365 | 25,425 | 28,483 | 31,560,000 | 34,624 | 40,780 | 40,780,000 | 1,016,749,000 | 137,000 | 784,000 | 3,214,000 | |||||||||||||||||||||||
lease liabilities | 6,562 | 26,755,000 | 28,036,000 | 25,926,000 | 27,014,000 | 14,272,000 | 15,217,000 | 13,526,000 | 14,379,000 | 15,082,000 | 15,016,000 | 5,330 | 4,203 | 4,865 | |||||||||||||||||||||||||||||||||||||||
decommissioning liabilities | 177,075 | 156,783,000 | 153,607,000 | 157,942,000 | 158,584,000 | 50,347,000 | 51,471,000 | 35,600,000 | 34,240,000 | 32,919,000 | 40,528,000 | 29,550 | 29,433 | 27,796 | 28,702 | 27,796 | 21,004 | 17,598 | 16,076 | 13,572 | 13,545 | 12,658 | 11,315,000 | 14,392 | 15,650 | 15,650,000 | 15,592,000 | 13,973,000 | 15,051,000 | 15,250,000 | 15,484,000 | 15,484,000 | 12,396,000 | 12,396,000 | 12,582,000 | 9,796,000 | 9,640,000 | 9,691,000 | 10,353,000 | 9,691,000 | 6,487,000 | 6,487,000 | 6,778,000 | 6,123,000 | 6,355,000 | 7,358,000 | 7,358,000 | 4,336,000 | |||||
other liabilities | 7,107 | 6,591,000 | 5,797,000 | 6,282,000 | 6,011,000 | 5,503,000 | 5,406,000 | 4,814,000 | 4,468,000 | 3,898,000 | 4,675,000 | 4,204 | 4,164 | 3,787 | 3,985 | 3,787 | 4,698 | 255 | 655 | 907 | 1,987 | 2,241 | 2,741,000 | 2,083 | 1,332 | 1,332,000 | 1,334,000 | 1,336,000 | 1,933,000 | 1,740,000 | 1,740,000 | 1,740,000 | 1,740,000 | 1,740,000 | 2,320,000 | ||||||||||||||||||
non-current income taxes payable | 21,701 | 23,657,000 | 21,812,000 | 22,031,000 | 23,359,000 | 21,707,000 | 23,099,000 | ||||||||||||||||||||||||||||||||||||||||||||||
deferred tax liabilities | 571,445 | 141,744,000 | 150,836,000 | 122,866,000 | 130,094,000 | 43,505,000 | 48,729,000 | 111,477,000 | 104,514,000 | 113,021,000 | 78,888,000 | 87,845 | 81,972 | 90,643 | 88,672 | 90,643 | 144,384 | 104,094 | 103,394 | 114,896 | 115,688 | 129,258 | 138,178,000 | 139,662 | 130,870 | 130,870,000 | 120,114,000 | 96,226,000 | 103,925,000 | 109,819,000 | 110,261,000 | 110,261,000 | 141,127,000 | 141,127,000 | 143,876,000 | 109,360,000 | 104,310,000 | 94,159,000 | 94,516,000 | 94,159,000 | 2,227,948,000 | 59,010,000 | 59,010,000 | 50,361,000 | 48,897,000 | 32,662,000 | 26,110,000 | 26,110,000 | 28,417,000 | ||||
total liabilities | 1,228,060 | 695,423,000 | 714,018,000 | 659,083,000 | 632,694,000 | 252,015,000 | 375,551,000 | 387,281,000 | 383,024,000 | 374,831,000 | 395,417,000 | 365,603,000 | 335,332 | 331,839 | 331,537 | 334,310 | 331,537 | 383,836 | 321,802 | 198,956 | 201,689 | 202,472 | 218,628 | 235,474,000 | 236,805 | 254,280 | 254,280,000 | 244,981,000 | 207,832,000 | 223,268,000 | 236,080,000 | 250,809,000 | 250,809,000 | 291,355,000 | 291,355,000 | 297,903,000 | 239,054,000 | 243,947,000 | 219,506,000 | 223,523,000 | 219,506,000 | 10,291,563,000 | 113,202,000 | 113,202,000 | 101,443,000 | 92,714,000 | 88,552,000 | 76,987,000 | 76,987,000 | 52,655,000 | 65,649,225 | 65,649,225 | |
equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
share capital | 3,065,440 | 1,677,077,000 | 1,659,781,000 | 1,620,423,000 | 1,602,144,000 | 1,000 | 1,097,140,000 | 1,087,139,000 | 1,081,110,000 | 950,582,000 | 949,142,000 | 933,182,000 | 900,019 | 879,325 | 827,622 | 861,509 | 827,622 | 825,109 | 636,568 | 636,672 | 635,694 | 632,742 | 632,052 | 628,565,000 | 627,897 | 559,404 | 559,404,000 | 557,477,000 | 454,001,000 | 453,556,000 | 430,588,000 | 430,588,000 | 430,588,000 | 430,166,000 | 430,166,000 | 429,788,000 | 425,564,000 | 424,728,000 | 423,958,000 | 425,246,000 | 423,958,000 | 149,572,081,000 | 278,426,000 | 278,426,000 | 276,799,000 | 273,304,000 | 271,898,000 | 265,923,000 | 265,923,000 | 244,517,000 | 265,504,530 | 265,504,530 | |
equity reserves | 176,655 | 103,442,000 | 98,943,000 | 114,501,000 | 120,070,000 | 99,052,000 | 101,997,000 | 98,536,000 | 98,815,000 | 91,321,000 | 90,692,000 | 88,591 | 91,212 | 88,030 | 89,985 | 88,030 | 85,020 | 83,523 | 62,303 | 60,603 | 59,496 | 57,557 | 56,354,000 | 57,991 | 60,148 | 60,148,000 | 59,061,000 | 57,500,000 | 56,493,000 | 54,949,000 | 53,340,000 | 53,340,000 | 52,596,000 | 52,596,000 | 51,363,000 | 43,752,000 | 38,254,000 | 31,219,000 | 34,859,000 | 31,219,000 | 20,184,171,000 | 27,653,000 | 27,653,000 | 26,833,000 | 27,844,000 | 26,065,000 | 28,581,000 | 28,581,000 | 27,785,000 | ||||
accumulated deficit | -642,555 | -146,429,000 | -342,524,000 | -347,753,000 | -342,519,000 | -322,578,000 | -337,045,000 | -338,900,000 | -373,445,000 | -404,391,000 | -394,423,000 | -321,607 | -330,166 | -318,199 | -321,079 | -162,519 | -122,472 | -116,490 | -60,406 | -59,086 | -60,498 | -63,218,000 | -65,032 | -79,252 | -79,252,000 | ||||||||||||||||||||||||||||
equity attributable to owners of the company | 2,599,540 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
non-controlling interest | 407,900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
total equity | 3,007,440 | 1,437,995,000 | 1,410,971,000 | 1,392,405,000 | 1,399,636,000 | 14,223,000 | 859,147,000 | 850,236,000 | 806,201,000 | 645,006,000 | 646,040,000 | 662,321,000 | 667,003 | 640,371 | 594,573 | 633,295 | 594,573 | 747,610 | 597,619 | 582,485 | 635,891 | 633,152 | 629,111 | 621,701,000 | 620,856 | 540,300 | 540,300,000 | 544,719,000 | 542,643,000 | 542,971,000 | 521,037,000 | 520,533,000 | 520,533,000 | 584,057,000 | 584,057,000 | 592,993,000 | 649,040,000 | 626,386,000 | 593,525,000 | 624,970,000 | 593,525,000 | 56,497,260,000 | 397,208,000 | 397,208,000 | 379,440,000 | 350,598,000 | 326,074,000 | 294,843,000 | 294,843,000 | ||||
total liabilities and equity | 4,235,500 | 2,133,418,000 | 2,124,989,000 | 2,051,488,000 | 2,032,330,000 | 266,238,000 | 1,234,698,000 | 1,237,517,000 | 1,189,225,000 | 1,019,837,000 | 1,041,457,000 | 1,027,924,000 | 1,002,335 | 972,210 | 926,110 | 967,605 | 926,110 | 1,131,446 | 919,421 | 781,441 | 837,580 | 835,624 | 847,739 | 857,175,000 | 857,661 | 794,580 | 794,580,000 | 789,700,000 | 750,475,000 | 766,239,000 | 757,117,000 | 771,342,000 | 771,342,000 | 875,412,000 | 875,412,000 | 890,896,000 | 888,094,000 | 870,333,000 | 813,031,000 | 848,493,000 | 813,031,000 | 66,788,823,000 | 510,410,000 | 510,410,000 | 480,883,000 | 443,312,000 | 414,626,000 | 371,830,000 | 371,830,000 | 251,575,000 | |||
commitments | |||||||||||||||||||||||||||||||||||||||||||||||||||||
shares | |||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at december 31, 2023 | 1,879,971 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
net loss for the period | |||||||||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive income | |||||||||||||||||||||||||||||||||||||||||||||||||||||
total comprehensive loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||
share-based payments | |||||||||||||||||||||||||||||||||||||||||||||||||||||
shares issued for: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
prospectus offerings | 93,899 | 13,239,000 | 126,132,000 | 126,166,000 | 13,792,000 | 13,792,000 | 81,916,000 | 53,102,000 | |||||||||||||||||||||||||||||||||||||||||||||
exercise of stock options | 56 | 6,146,000 | 19,914,000 | 14,551,000 | 3,952,000 | 2,549,000 | 22,649,000 | 18,300,000 | 2,568,000 | 1,422,000 | 3,379 | 2,398 | 795 | 7,607 | 4,177 | 3,487 | 27,619 | 26,951 | 9,959 | 1,674 | 27,619,000 | 26,951 | |||||||||||||||||||||||||||||||
settlement of restricted and deferred share units | 2,769 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
dividend declared and paid | |||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at september 30, 2024 | 1,976,695 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at december 31, 2024 | 1,978,101 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings for the period | |||||||||||||||||||||||||||||||||||||||||||||||||||||
total comprehensive income | |||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition of gatos | 1,020,359 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
settlement of restricted, preferred, and deferred share units | 3,533 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends and distributions to non-controlling interest | |||||||||||||||||||||||||||||||||||||||||||||||||||||
shares repurchased | -4,270 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at september 30, 2025 | 3,065,440 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
related party receivables | 192,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
other current assets | 1,894,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in affiliates | 282,110,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
other non-current assets | 314,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities and stockholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts payable, accrued and other liabilities | 9,719,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
lease liability | 145,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
common stock, 0.001 par value... | 118,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
paid-in capital | 559,018,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
total stockholders’ equity | 412,707,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
total liabilities and stockholders’ equity | 422,571,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
restricted cash | 12,760,000 | 12,570,000 | 43,666,000 | 66,992,000 | 66,971,000 | 2,959,355,000 | |||||||||||||||||||||||||||||||||||||||||||||||
balance at december 31, 2020 | 1,087,139,000 | 1,087,139,000 | 1,087,139,000 | 1,087,139,000 | 1,087,139,000 | 1,087,139,000 | |||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition of springpole silver stream | 3,750,000 | 7,479,000 | 7,479,000 | 3,750,000 | 3,750,000 | 7,479,000 | 7,479,000 | ||||||||||||||||||||||||||||||||||||||||||||||
settlement of restricted share units | 105,000 | 992,000 | 992,000 | 916,000 | 879,000 | 988,000 | 988,000 | 642,000 | 879,000 | 988 | 642 | ||||||||||||||||||||||||||||||||||||||||||
balance at march 31, 2021 | 1,097,140,000 | 1,097,140,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
balance at december 31, 2021 | 1,659,781,000 | 1,659,781,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
dividend declared | |||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at march 31, 2022 | 1,677,077,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at december 31, 2019 | 933,182,000 | 933,182,000 | 933,182,000 | 933,182,000 | 933,182,000 | 933,182,000 | 933,182,000 | 933,182,000 | |||||||||||||||||||||||||||||||||||||||||||||
net earnings for the year | |||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition of mining interests | 700,000 | 700,000 | 500 | 500 | 500,000 | 500 | |||||||||||||||||||||||||||||||||||||||||||||||
shares repurchased and cancelled | -1,260,000 | -1,260,000 | -1,260,000 | -1,260,000 | -1,260,000 | -1,260,000 | -1,260,000 | -1,260,000 | -62 | -21 | -899 | -899 | -899 | ||||||||||||||||||||||||||||||||||||||||
net loss for the year | |||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition of jerritt canyon | 416,561,000 | 416,561,000 | 416,561,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
sprott private placement | 26,589,000 | 26,589,000 | 26,589,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
debt settlement | 27,733,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
equity component of convertible notes, net of tax | |||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at september 30, 2020 | 1,081,110,000 | 1,081,110,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
balance at september 30, 2021 | 1,620,423,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
assets held-for-sale | 460,000 | 3,432,000 | 3,746,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
balance at june 30, 2020 | 950,582,000 | 950,582,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
balance at june 30, 2021 | 1,602,144,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
marketable securities | 5,101,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts receivable and prepaid expenses | 6,950,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
mineral property, plant and equipment | 165,666,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts payable and accrued liabilities | 16,884,000 | 12,190,647 | 12,190,647 | ||||||||||||||||||||||||||||||||||||||||||||||||||
loan payable | 9,009,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
secured debt | 10,728,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
grid promissory note | 86,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
promissory note | 5,029,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
finance lease obligation | 1,569,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
net smelter returns royalty | 4,654,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
finance lease obligations | 1,310,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
asset retirement obligations | 87,345,000 | 6,104,302 | 6,104,302 | ||||||||||||||||||||||||||||||||||||||||||||||||||
deferred income tax liability | 2,004,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
contributed surplus | 4,472,000 | 27,952,397 | 27,952,397 | ||||||||||||||||||||||||||||||||||||||||||||||||||
retained earnings | 9,750,000 | 31,142,000 | 32,922,000 | 35,500,000 | 36,605,000 | 36,605,000 | 101,295,000 | 101,295,000 | 111,842,000 | 179,724,000 | 163,404,000 | 138,348,000 | 164,865,000 | 138,348,000 | 91,129,000 | 91,129,000 | 75,808,000 | 49,450,000 | 28,111,000 | 339,000 | 339,000 | 2,938,287 | 2,938,287 | ||||||||||||||||||||||||||||||
deficit attributable to owners of the company | 14,223,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
advance for assets held-for-sale | 4,449,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at march 31, 2020 | 949,142,000 | 949,142,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
non-current income taxes receivable | 16,414,000 | 16,045,000 | 15,680,000 | 19,551,000 | 18,771 | 19,214 | 18,737 | 19,029 | 18,737 | 19,937 | |||||||||||||||||||||||||||||||||||||||||||
balance at december 31, 2018 | 827,622,000 | 827,622,000 | 827,622,000 | 827,622,000 | 827,622 | 827,622 | 827,622 | 827,622 | |||||||||||||||||||||||||||||||||||||||||||||
shares cancelled | 7,000 | 7,000 | 7,000 | 7,000 | 7 | 7 | -899 | -458 | -55,000 | -55 | |||||||||||||||||||||||||||||||||||||||||||
other financial liabilities | 3,880,000 | 11,421,000 | 21,672,000 | 790,000 | 383,000 | 6,292,000 | |||||||||||||||||||||||||||||||||||||||||||||||
balance at september 30, 2019 | 900,019,000 | 900,019 | |||||||||||||||||||||||||||||||||||||||||||||||||||
income taxes receivable | 280,000 | 1,330 | 1,564 | 982 | 397 | 982 | 172 | 493 | 1,624 | 1,791 | 4,999 | 1,837 | 1,567 | 1,567,000 | 1,327,000 | 6,566,000 | 6,792,000 | 8,664,000 | 10,512,000 | 8,664,000 | 9,461,000 | 9,461,000 | 11,270,000 | 9,734,000 | |||||||||||||||||||||||||||||
at-the-market distributions | 48,486,000 | 13,792,000 | 53,102 | 48,486 | 32,458 | ||||||||||||||||||||||||||||||||||||||||||||||||
balance at june 30, 2019 | 879,325,000 | 879,325 | |||||||||||||||||||||||||||||||||||||||||||||||||||
restructuring of streaming agreement | 32,458,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at march 31, 2019 | 861,509,000 | 861,509 | |||||||||||||||||||||||||||||||||||||||||||||||||||
balance at december 31, 2017 | 636,672 | 636,672 | 636,672 | 636,672 | 636,672 | 636,672 | 636,672 | ||||||||||||||||||||||||||||||||||||||||||||||
equity component of convertible debenture, net of tax | |||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition of primero | 186,959 | 186,959 | 186,959 | 186,959 | |||||||||||||||||||||||||||||||||||||||||||||||||
settlement of liabilities | 500 | 500 | 253 | 253 | 253 | 253 | 228,000 | 253 | |||||||||||||||||||||||||||||||||||||||||||||
shares repurchased for delisting from bolsa | -899 | -899 | -62 | -21 | |||||||||||||||||||||||||||||||||||||||||||||||||
balance at september 30, 2018 | 826,549 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at june 30, 2018 | 825,109 | 825,109 | |||||||||||||||||||||||||||||||||||||||||||||||||||
current portion of equipment financing obligations | 2,904 | 2,904 | 3,130 | 3,670 | 4,154 | 4,294 | 4,424 | ||||||||||||||||||||||||||||||||||||||||||||||
equipment financing obligations | 2,943 | 2,943 | 4,334 | 5,039 | 5,151 | 4,406 | 3,084 | ||||||||||||||||||||||||||||||||||||||||||||||
balance at march 31, 2018 | 636,568 | 636,568 | |||||||||||||||||||||||||||||||||||||||||||||||||||
balance at december 31, 2016 | 628,565 | 628,565 | 628,565 | 628,565 | 628,565 | 628,565 | 628,565 | 628,565,000 | |||||||||||||||||||||||||||||||||||||||||||||
balance at june 30, 2017 | 632,742 | 632,742 | |||||||||||||||||||||||||||||||||||||||||||||||||||
balance at march 31, 2017 | 632,052 | 632,052 | |||||||||||||||||||||||||||||||||||||||||||||||||||
balance at december 31, 2015 | 557,477 | 557,477 | 557,477 | 557,477 | 557,477,000 | 557,477 | |||||||||||||||||||||||||||||||||||||||||||||||
private placement | 42,716 | 42,716 | 42,716 | 22,968,000 | 22,968 | ||||||||||||||||||||||||||||||||||||||||||||||||
balance at september 30, 2016 | 627,897 | 627,897 | |||||||||||||||||||||||||||||||||||||||||||||||||||
balance at september 30, 2017 | 635,694 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
net loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at june 30, 2016 | 610,405 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
net earnings | |||||||||||||||||||||||||||||||||||||||||||||||||||||
current portion of lease obligations | 4,726 | 6,078,000 | 7,360 | 9,456 | 9,456,000 | 9,594,000 | 9,937,000 | 10,190,000 | 10,889,000 | 11,428,000 | 11,428,000 | 12,775,000 | 12,775,000 | 13,399,000 | 13,054,000 | 11,231,000 | 8,793,000 | 9,922,000 | 8,793,000 | 7,476,000 | 7,476,000 | 5,231,000 | 4,269,000 | 3,764,000 | 2,654,000 | 2,654,000 | 2,139,000 | ||||||||||||||||||||||||||
lease obligations | 1,399 | 2,108,000 | 2,988 | 5,952 | 5,952,000 | 7,357,000 | 9,202,000 | 11,558,000 | 13,410,000 | 15,455,000 | 15,455,000 | 17,568,000 | 17,568,000 | 18,227,000 | 17,831,000 | 16,960,000 | 14,185,000 | 15,605,000 | 14,185,000 | 13,402,000 | 13,402,000 | 10,647,000 | 9,825,000 | 9,507,000 | 6,705,000 | 6,705,000 | 668,000 | ||||||||||||||||||||||||||
net loss and total comprehensive loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at march 31, 2016 | 559,404 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
current portion of prepayment facilities | 19,859,000 | 21,053,000 | 25,710,000 | 27,962,000 | 26,329,000 | 26,329,000 | 24,930,000 | 24,930,000 | |||||||||||||||||||||||||||||||||||||||||||||
prepayment facilities | 11,383,000 | 13,604,000 | 17,546,000 | 21,397,000 | 29,647,000 | 29,647,000 | 42,164,000 | 42,164,000 | |||||||||||||||||||||||||||||||||||||||||||||
balance at december 31, 2014 | 430,588,000 | 430,588 | |||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition of silvercrest | 103,248,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
share-based payments, net of tax | |||||||||||||||||||||||||||||||||||||||||||||||||||||
balance at september 30, 2015 | 454,001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
other investments | 2,937,000 | 3,003,000 | 3,299,000 | 3,372,000 | 3,372,000 | 3,372,000 | 3,372,000 | ||||||||||||||||||||||||||||||||||||||||||||||
current portion of debt facility | 15,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(accumulated deficit) retained earnings | -71,819,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
prepaid expenses | 1,337,000 | 1,337,000 | 1,911,000 | 1,911,000 | 1,989,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
deferred gain on litigation | 14,127,000 | 14,127,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
contingent liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||
subsequent events | |||||||||||||||||||||||||||||||||||||||||||||||||||||
deposits on long-term assets | 5,705,000 | 8,888,000 | 10,970,000 | 9,751,000 | 14,822,000 | 9,751,000 | 494,261,000 | 11,813,000 | 11,813,000 | 13,970,000 | 10,504,000 | 11,138,000 | 10,418,000 | 10,418,000 | 4,306,000 | 2,412,556 | 2,412,556 | ||||||||||||||||||||||||||||||||||||
current portion of prepayment facility | 23,010,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
prepayment facility | 48,911,000 | 28,170,000 | 33,364,000 | 44,241,000 | 37,110,000 | 44,241,000 | |||||||||||||||||||||||||||||||||||||||||||||||
goodwill | 24,591,000 | 24,591,000 | 24,591,000 | 24,591,000 | 24,591,000 | 3,091,166,000 | |||||||||||||||||||||||||||||||||||||||||||||||
current portion of debt and prepayment facility | 15,571,000 | 12,324,000 | 6,662,000 | 9,243,000 | 6,662,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
shareholders' equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
short-term investments | 1,400,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
other long-term liabilities | 754,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred tax asset | 4,705,000 | 1,163,000 | 1,163,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
trade payables and accrued liabilities | 25,210,000 | 21,815,000 | 21,815,000 | 11,462,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
taxes payable | 2,596,000 | 9,120,000 | 9,120,000 | 118,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
other long term liabilities | 600,000 | 945,000 | 945,000 | 888,259 | 888,259 | ||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income | |||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts receivable | 2,733,582 | 2,733,582 | |||||||||||||||||||||||||||||||||||||||||||||||||||
other receivables | 5,580,961 | 5,580,961 | |||||||||||||||||||||||||||||||||||||||||||||||||||
future income tax | 2,310,559 | 2,310,559 | |||||||||||||||||||||||||||||||||||||||||||||||||||
mining interests and plant and equipment | |||||||||||||||||||||||||||||||||||||||||||||||||||||
producing properties | 65,902,274 | 65,902,274 | |||||||||||||||||||||||||||||||||||||||||||||||||||
exploration properties | 113,931,240 | 113,931,240 | |||||||||||||||||||||||||||||||||||||||||||||||||||
plant and equipment | 75,902,712 | 75,902,712 | |||||||||||||||||||||||||||||||||||||||||||||||||||
corporate office equipment | 491,918 | 491,918 | |||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||
unearned revenue on silver bullion sales | 97,804 | 97,804 | |||||||||||||||||||||||||||||||||||||||||||||||||||
current portion of capital lease obligations | 1,239,939 | 1,239,939 | |||||||||||||||||||||||||||||||||||||||||||||||||||
income and other taxes payable | 437,674 | 437,674 | |||||||||||||||||||||||||||||||||||||||||||||||||||
capital lease obligations | 2,317,575 | 2,317,575 | |||||||||||||||||||||||||||||||||||||||||||||||||||
future income taxes | 42,373,025 | 42,373,025 | |||||||||||||||||||||||||||||||||||||||||||||||||||
long-term portion of debt facilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||
share capital to be issued | 274,075 | 274,075 | |||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||
total shareholders' equity | 255,818,795 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
total liabilities and shareholders' equity | 321,468,020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
shareholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
total shareholders’ equity | 255,818,795 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
total liabilities and shareholders’ equity | 321,468,020 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-03-31 | 2023-12-31 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-05-12 | 2022-03-10 | 2021-09-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-04-05 | 2018-06-30 | 2018-03-31 | 2016-05-11 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2013-03-31 | 2012-06-30 | 2012-03-31 | 2011-12-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
selected financial information | |||||||||||||||||||||||||||||||||||||
revenue | 156,838,000 | 204,751,354 | -29,427 | 100,522 | 91,026 | -51,210 | 86,065 | 86,810 | 21,094 | 58,593 | |||||||||||||||||||||||||||
cost of sales | 111,213,000 | 120,991,151 | 92,006 | 57,061 | 60,275 | 25,241 | 50,781 | 59,347 | 19,604 | 39,681 | |||||||||||||||||||||||||||
depletion, depreciation and amortization | -18,863,000 | 11,284,000 | 62,774,000 | 93,241,000 | 272,000 | 26,214,000 | 97,807,000 | 34,819,000 | 101,284,000 | 1,504,000 | 4,067,000 | 30,556,000 | 43,204,665 | 29,122 | 15,345 | 56,243,994 | 17,573 | 7,264 | 14,169 | 17,210 | 3,371 | 19,335 | 20,067 | 20,067,000 | 57,917,000 | 282,000 | 204,000 | 17,419,000 | 45,900,000 | 388,000 | 8,384,000 | -194,000 | 5,453,000 | 12,268,000 | 333,000 | 330,000 | 2,804,000 |
mine operating earnings | 15,069,000 | 40,300,943 | 3,518 | 28,116 | 48,033 | -7,762 | 21,115 | 10,253 | -1,881 | -423 | |||||||||||||||||||||||||||
net earnings after tax | 7,285,000 | -3,952,594 | -34,005 | 1,855 | 40,914 | 22,468 | -32,436 | 2,880 | -34,441 | -5,592 | |||||||||||||||||||||||||||
earnings per share – basic & diluted | |||||||||||||||||||||||||||||||||||||
cash flow | |||||||||||||||||||||||||||||||||||||
cash generated by operating activities | 35,634,000 | 7,431 | 12,048 | 32,715 | 22,108 | 22,108,000 | 45,228,000 | -10,384,000 | 14,900,000 | 6,350,000 | 88,409,000 | -22,531,000 | 44,881,000 | -15,348,000 | 38,526,000 | 92,263,000 | -2,683,000 | 3,526,000 | 34,423,000 | ||||||||||||||||||
cash from investing activities | -10,112,000 | -143,840,000 | 95,999,000 | -121,356,000 | -52,297,000 | -159,754,000 | 13,006,000 | -46,264 | -33,306 | -29,007 | -9,456 | -9,456,000 | -15,893,000 | 5,060,000 | -4,439,000 | -13,411,000 | -78,451,000 | ||||||||||||||||||||
cash (used in) generated by in financing activities | |||||||||||||||||||||||||||||||||||||
increase in cash and cash equivalents | 18,817,000 | -117,975,000 | 149,180,000 | 77,645,000 | -49,230,000 | 104,122,000 | -37,557 | -21,054 | 34,013 | 10,574 | 10,574,000 | 44,433,000 | -13,055,000 | ||||||||||||||||||||||||
effect of exchange rate on cash and cash equivalents held in foreign currencies | -1,655,000 | 2,282,000 | -47,000 | -3,603,000 | 1,683,000 | -116,000 | 3,636,000 | 1,873,000 | 3,178,000 | -2,016,000 | 663 | -2,768 | 431 | 141 | 141,000 | -512,000 | 130,000 | -36,000 | -538,000 | -419,000 | -808,000 | ||||||||||||||||
cash and cash equivalents, beginning of the period | 33,440,000 | 149,133,000 | 202,180,000 | 50,104,000 | 125,581,000 | -75,080,000 | 238,578 | 169,009 | 57,013 | ||||||||||||||||||||||||||||
cash and cash equivalents, end of the period | 2,557,000 | 102,069,000 | |||||||||||||||||||||||||||||||||||
operating activities | |||||||||||||||||||||||||||||||||||||
net earnings for the period | -13,617,000 | 50,339,000 | 6,240,000 | -100,660,000 | 1,855 | 798,000 | -1,473,000 | -1,105,000 | -18,040,000 | 26,517,000 | -11,037,000 | 26,358,000 | -2,821,000 | 6,723,000 | 23,870,000 | ||||||||||||||||||||||
adjustments for: | |||||||||||||||||||||||||||||||||||||
share-based payments | -446,000 | -1,514,000 | 4,514,000 | 9,482,000 | -452,000 | 3,901,000 | 10,081,000 | 4,253,000 | 10,653,000 | 319,000 | 3,069 | 3,594 | 8,248,972 | 1,703 | 1,147 | 1,147,000 | 3,919,000 | -537,000 | -65,000 | 1,609,000 | 6,069,000 | -1,427,000 | 4,405,000 | -420,000 | 2,825,000 | 5,011,000 | -835,000 | -117,000 | 1,889,000 | ||||||||
income tax expense | 22,810,000 | 51,022,000 | -6,105,000 | 52,335,000 | -78,175,000 | -1,395 | 6,712 | 6,628,286 | 13,393 | 8,785 | 8,785,000 | 1,837,000 | -1,411,000 | 6,882,000 | |||||||||||||||||||||||
finance costs | -687,000 | 835,000 | 6,963,000 | 21,202,000 | -477,000 | 7,084,000 | 19,541,000 | 5,623,000 | 15,087,000 | 401,000 | -4,027 | -3,773 | 14,784,056 | -3,650 | 4,695 | 4,695,000 | 4,676,000 | -108,000 | -181,000 | 1,423,000 | 4,896,000 | -310,000 | 524,000 | 69,000 | 399,000 | 873,000 | 2,000 | 270,000 | 118,000 | ||||||||
unrealized income from marketable securities and silver futures derivatives | 3,161,000 | ||||||||||||||||||||||||||||||||||||
other | 7,046,000 | -8,806,000 | 3,570,000 | 463,000 | -1,552,000 | 985,000 | -390,000 | -579,000 | 1,499,000 | -913,000 | -2,289 | -2,289,000 | -4,025,000 | -5,451,000 | 4,357,000 | -3,869,000 | |||||||||||||||||||||
operating cash flows before non-cash working capital and taxes | 26,393,000 | 4,889,000 | 110,032,000 | 98,819,000 | 15,987,000 | 12,613,000 | 85,061,000 | 21,855,000 | 81,729,000 | ||||||||||||||||||||||||||||
net change in non-cash working capital items | -22,579,000 | 32,305,000 | -26,500,000 | 26,266,000 | -500,000 | 3,393,000 | -26,883,000 | -10,445,000 | -70,690,000 | 60,430,000 | -1,285 | -1,285,000 | -1,695,000 | -4,121,000 | 14,884,000 | -8,333,000 | 34,204,000 | -17,635,000 | 1,227,000 | 8,550,000 | -2,622,000 | 3,650,000 | |||||||||||||||
income taxes paid | 18,600,000 | -2,580,000 | -28,040,000 | -14,153,000 | 8,707,000 | -3,572,000 | -22,544,000 | -16,080,000 | -58,034,000 | 24,119,000 | -1,579 | -1,579,000 | 882,000 | -2,631,000 | -11,215,000 | ||||||||||||||||||||||
cash generated in operating activities | 22,414,000 | 34,614,000 | 55,492,000 | 110,932,000 | 24,194,000 | ||||||||||||||||||||||||||||||||
investing activities | |||||||||||||||||||||||||||||||||||||
expenditures on mining interests | -8,645,000 | 14,289,000 | -45,840,000 | -67,260,000 | -5,030,000 | -21,976,000 | -90,410,000 | -40,977,000 | -120,979,000 | 12,323,000 | -7,790 | -7,790,000 | -32,488,000 | 2,405,000 | -536,000 | -11,366,000 | -53,314,000 | ||||||||||||||||||||
acquisition of property, plant and equipment | 832,000 | -7,459,000 | -10,515,000 | -14,837,000 | -1,038,000 | -8,550,000 | -22,021,000 | -8,472,000 | -40,210,000 | -1,347,000 | -1,658 | -1,658,000 | -11,061,000 | 3,066,000 | -6,171,000 | -786,000 | -24,707,000 | ||||||||||||||||||||
deposits paid for acquisition of non-current assets | -713,000 | 52,000 | -101,000 | 167,000 | -14,000 | -466,000 | -2,280,000 | -2,848,000 | -3,239,000 | 2,943,000 | |||||||||||||||||||||||||||
gatos silver inc. cash acquired, net of cash consideration paid | |||||||||||||||||||||||||||||||||||||
acquisition of springpole silver stream | -5,000,000 | ||||||||||||||||||||||||||||||||||||
financing activities | |||||||||||||||||||||||||||||||||||||
proceeds from prospectus offering, net of share issue costs | 71,154,000 | -48,409,000 | 92,266,000 | 14,392,000 | 113,710,000 | -17,656,000 | |||||||||||||||||||||||||||||||
proceeds from exercise of stock options | 8,881,000 | 1,491,000 | 8,338,000 | 111,000 | -26,000 | 1,828,000 | 318,000 | 3,401,000 | 155,000 | 1,614 | 1,614,000 | 1,399,000 | -341,000 | ||||||||||||||||||||||||
repayment of lease liabilities | -1,408,000 | 628,000 | -4,568,000 | -12,633,000 | -626,000 | -3,895,000 | -11,134,000 | -3,426,000 | -9,389,000 | -1,102,000 | |||||||||||||||||||||||||||
dividends and distributions paid to non-controlling interests | |||||||||||||||||||||||||||||||||||||
finance costs paid | 176,000 | -341,000 | -1,896,000 | -6,299,000 | -260,000 | -2,404,000 | -5,644,000 | -1,374,000 | -1,837,000 | -899,000 | -4,450 | -4,450,000 | -3,109,000 | 71,000 | 144,000 | -1,132,000 | -4,023,000 | ||||||||||||||||||||
repayment of debt facilities | 0 | ||||||||||||||||||||||||||||||||||||
dividends declared and paid | -167,000 | 579,000 | -2,759,000 | -3,909,000 | -308,000 | -1,379,000 | -4,402,000 | -1,480,000 | -5,270,000 | 2,037,000 | |||||||||||||||||||||||||||
shares repurchased | -1,418,000 | -1,426,000 | |||||||||||||||||||||||||||||||||||
cash from financing activities | 6,515,000 | -8,749,000 | -2,311,000 | 48,153,000 | -69,629,000 | -7,678,000 | 72,914,000 | 8,430,000 | 90,605,000 | 11,880,000 | -2,078 | -2,078,000 | -6,513,000 | -21,801,000 | 22,894,000 | -10,362,000 | |||||||||||||||||||||
cash and cash equivalents, end of period | 50,602,000 | 33,440,000 | 351,313,000 | 104,774,000 | 31,098,000 | 201,684 | 145,187 | 91,457 | -140,011 | 249,239 | 61,733 | 61,733,000 | -11,637,000 | 15,358,000 | 22,384,000 | -31,965,000 | 110,050,000 | -14,443,000 | 85,333,000 | 1,244,000 | 19,354,000 | 85,624,000 | |||||||||||||||
supplemental cash flow information | |||||||||||||||||||||||||||||||||||||
the accompanying notes are an integral part of the condensed interim consolidated financial statements | |||||||||||||||||||||||||||||||||||||
first majestic silver corp. 2025 third quarter report | |||||||||||||||||||||||||||||||||||||
income tax (recovery) expense | -2,996,000 | ||||||||||||||||||||||||||||||||||||
unrealized (gain) income from marketable securities and silver futures derivatives | |||||||||||||||||||||||||||||||||||||
dividends paid to non-controlling interests | |||||||||||||||||||||||||||||||||||||
first majestic silver corp. 2025 second quarter report | |||||||||||||||||||||||||||||||||||||
gatos silver inc. cash acquired, net of acquisition costs | 159,560,000 | ||||||||||||||||||||||||||||||||||||
first majestic silver corp. 2025 first quarter report | |||||||||||||||||||||||||||||||||||||
net income for the year | |||||||||||||||||||||||||||||||||||||
write down on asset held-for-sale | |||||||||||||||||||||||||||||||||||||
unrealized gain from marketable securities and silver futures derivatives | -1,299,000 | 2,643,000 | 1,114,000 | -2,217,000 | |||||||||||||||||||||||||||||||||
loss on sale of mining interest | 1,378,000 | ||||||||||||||||||||||||||||||||||||
impairment of non-current asset | 125,200,000 | ||||||||||||||||||||||||||||||||||||
cash disposed as part of the sale of la guitarra | |||||||||||||||||||||||||||||||||||||
cash (used in) investing activities | -81,440,000 | -3,795,000 | -28,152,000 | ||||||||||||||||||||||||||||||||||
cash and cash equivalents, beginning of the year | 151,438,000 | ||||||||||||||||||||||||||||||||||||
change in cash and cash equivalents classified as held for sale | |||||||||||||||||||||||||||||||||||||
cash and cash equivalents, end of year | |||||||||||||||||||||||||||||||||||||
the accompanying notes are an integral part of the audited consolidated financial statements | |||||||||||||||||||||||||||||||||||||
first majestic silver corp. 2024 annual report | |||||||||||||||||||||||||||||||||||||
net income for the period | 21,658,000 | -13,563,000 | |||||||||||||||||||||||||||||||||||
first majestic silver corp. 2024 third quarter report | |||||||||||||||||||||||||||||||||||||
(gain) loss on sale of mining interest | |||||||||||||||||||||||||||||||||||||
first majestic silver corp. 2024 second quarter report | |||||||||||||||||||||||||||||||||||||
net income | |||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash used by operating activities: | |||||||||||||||||||||||||||||||||||||
amortization | |||||||||||||||||||||||||||||||||||||
stock-based compensation expense | |||||||||||||||||||||||||||||||||||||
equity income in affiliates | |||||||||||||||||||||||||||||||||||||
distributions and dividends from affiliates | |||||||||||||||||||||||||||||||||||||
changes in operating assets and liabilities: | |||||||||||||||||||||||||||||||||||||
receivables from related parties | |||||||||||||||||||||||||||||||||||||
accounts payable and other accrued liabilities | |||||||||||||||||||||||||||||||||||||
other current assets | |||||||||||||||||||||||||||||||||||||
net cash from operating activities | |||||||||||||||||||||||||||||||||||||
capital expenditures | |||||||||||||||||||||||||||||||||||||
free cash flows | |||||||||||||||||||||||||||||||||||||
net cash used by investing activities | |||||||||||||||||||||||||||||||||||||
repayment of credit facility | |||||||||||||||||||||||||||||||||||||
lease payments | |||||||||||||||||||||||||||||||||||||
net cash provided (used) by financing activities | |||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | |||||||||||||||||||||||||||||||||||||
cash and cash equivalents, beginning of year | |||||||||||||||||||||||||||||||||||||
interest paid | |||||||||||||||||||||||||||||||||||||
interest earned | |||||||||||||||||||||||||||||||||||||
income tax recovery | -13,122,000 | -45,962,000 | |||||||||||||||||||||||||||||||||||
cash generated by (used in) operating activities | 12,434,000 | ||||||||||||||||||||||||||||||||||||
decrease in cash and cash equivalents | -23,396,000 | -48,537,000 | -17,423,000 | 17,964,000 | |||||||||||||||||||||||||||||||||
first majestic silver corp. 2024 first quarter report | |||||||||||||||||||||||||||||||||||||
gain on sale of mining interest | |||||||||||||||||||||||||||||||||||||
impairment (reversal of impairment) of non-current asset | |||||||||||||||||||||||||||||||||||||
proceeds from debt facilities | 20,000,000 | ||||||||||||||||||||||||||||||||||||
shares repurchased and cancelled | -10,000 | -784,000 | |||||||||||||||||||||||||||||||||||
cash and cash equivalents reclassified as held for sale | |||||||||||||||||||||||||||||||||||||
first majestic silver corp. 2023 annual report | |||||||||||||||||||||||||||||||||||||
impairment (reversal) of non-current asset | |||||||||||||||||||||||||||||||||||||
cash and cash equivalent reclassified as held for sale | -4,620,000 | 4,072,000 | |||||||||||||||||||||||||||||||||||
first majestic silver corp. 2023 third quarter report | |||||||||||||||||||||||||||||||||||||
cash from operating activities | -4,670,000 | -46,995,000 | 79,236,000 | ||||||||||||||||||||||||||||||||||
first majestic silver corp. 2023 first quarter report | |||||||||||||||||||||||||||||||||||||
acquisition costs | 127 | ||||||||||||||||||||||||||||||||||||
loss on write-down of plant and equipment | |||||||||||||||||||||||||||||||||||||
gain on sale of royalty portfolio | |||||||||||||||||||||||||||||||||||||
reversal of impairment | |||||||||||||||||||||||||||||||||||||
restricted cash acquired on the acquisition of jerritt canyon | |||||||||||||||||||||||||||||||||||||
reclassification to restricted cash related to the acquisition of jerritt canyon | |||||||||||||||||||||||||||||||||||||
jerritt canyon acquisition costs, net of cash acquired | |||||||||||||||||||||||||||||||||||||
proceeds from 2021 convertible debenture, net of transaction costs | |||||||||||||||||||||||||||||||||||||
payment for redemption of 2018 convertible debenture | |||||||||||||||||||||||||||||||||||||
first majestic silver corp. 2022 annual report | |||||||||||||||||||||||||||||||||||||
net (loss) for the period | |||||||||||||||||||||||||||||||||||||
loss on assets held-for-sale | |||||||||||||||||||||||||||||||||||||
income from marketable securities and silver futures derivatives | |||||||||||||||||||||||||||||||||||||
unrealized foreign exchange gain | 2,846,000 | ||||||||||||||||||||||||||||||||||||
first majestic silver corp. 2022 third quarter report | |||||||||||||||||||||||||||||||||||||
gain from marketable securities and silver futures derivatives | |||||||||||||||||||||||||||||||||||||
operating cash flows before working capital and taxes | |||||||||||||||||||||||||||||||||||||
first majestic silver corp. 2022 second quarter report | |||||||||||||||||||||||||||||||||||||
cost of sales - standby costs | 0 | ||||||||||||||||||||||||||||||||||||
earnings per share - basic | 30 | -19.93 | -0.13 | 0.01 | 0.19 | 0.1 | -0.15 | 0.01 | |||||||||||||||||||||||||||||
earnings per share - diluted | 30 | -19.93 | -0.13 | 0.01 | 0.19 | 0.1 | -0.15 | 0.01 | |||||||||||||||||||||||||||||
cash (used in) generated by operating activities | |||||||||||||||||||||||||||||||||||||
cash generated by financing activities | 1,276 | 204 | 30,305 | 2,431,000 | 168,000 | 24,383,000 | -3,726,000 | -13,669,000 | 19,930,000 | ||||||||||||||||||||||||||||
revenues | 124,646 | 100,522 | 125,881 | ||||||||||||||||||||||||||||||||||
mine operating costs | |||||||||||||||||||||||||||||||||||||
general and administrative | 6,213 | 5,520 | |||||||||||||||||||||||||||||||||||
mine holding costs | 3,344 | 3,868 | 4,184 | ||||||||||||||||||||||||||||||||||
loss on divestiture of exploration projects | 3,890,315 | ||||||||||||||||||||||||||||||||||||
foreign exchange loss | 1,676 | 5,340 | |||||||||||||||||||||||||||||||||||
operating earnings | -10,911 | 15,490 | |||||||||||||||||||||||||||||||||||
fair value adjustment on foreign currency derivatives | |||||||||||||||||||||||||||||||||||||
investment and other income | -4,863 | 2,741 | |||||||||||||||||||||||||||||||||||
earnings before income taxes | -19,801 | 8,567 | |||||||||||||||||||||||||||||||||||
current income tax expense | 6,678 | 8,537 | 3,842 | ||||||||||||||||||||||||||||||||||
deferred income tax (recovery) expense | -1,825 | ||||||||||||||||||||||||||||||||||||
net loss for the period | 30,946 | ||||||||||||||||||||||||||||||||||||
earnings per share | 0.01 | ||||||||||||||||||||||||||||||||||||
deferred income tax recovery | |||||||||||||||||||||||||||||||||||||
cash generated by (used in) financing activities | |||||||||||||||||||||||||||||||||||||
add (deduct) items not involving cash | |||||||||||||||||||||||||||||||||||||
accretion of asset retirement obligation | |||||||||||||||||||||||||||||||||||||
accretion of promissory note payable | |||||||||||||||||||||||||||||||||||||
depreciation, depletion and amortization | |||||||||||||||||||||||||||||||||||||
gain on disposal of assets | |||||||||||||||||||||||||||||||||||||
unrealized gain on marketable securities | |||||||||||||||||||||||||||||||||||||
realized loss on marketable securities | |||||||||||||||||||||||||||||||||||||
changes in non-cash working capital balances related to operations | |||||||||||||||||||||||||||||||||||||
accounts receivable and prepaid expenses | |||||||||||||||||||||||||||||||||||||
inventories | |||||||||||||||||||||||||||||||||||||
accounts payable and accrued liabilities | |||||||||||||||||||||||||||||||||||||
net smelter returns royalty | |||||||||||||||||||||||||||||||||||||
reclamation costs incurred | |||||||||||||||||||||||||||||||||||||
additions to mineral property, plant and equipment | |||||||||||||||||||||||||||||||||||||
purchase of marketable securities, net of proceeds | |||||||||||||||||||||||||||||||||||||
purchase of remaining non-controlling interest | |||||||||||||||||||||||||||||||||||||
restricted cash | 3,300,000 | ||||||||||||||||||||||||||||||||||||
proceeds from grid promissory note | |||||||||||||||||||||||||||||||||||||
proceeds from promissory note payable | |||||||||||||||||||||||||||||||||||||
proceeds from short term promissory note payable | |||||||||||||||||||||||||||||||||||||
proceeds from loan payable | |||||||||||||||||||||||||||||||||||||
contribution from non controlling interest | |||||||||||||||||||||||||||||||||||||
repayment of secured debt | |||||||||||||||||||||||||||||||||||||
repayment of finance lease obligations | |||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents during the year | |||||||||||||||||||||||||||||||||||||
supplementary cash flow information | |||||||||||||||||||||||||||||||||||||
general and administrative expenses | 6,961 | ||||||||||||||||||||||||||||||||||||
foreign exchange gain | -1,797 | ||||||||||||||||||||||||||||||||||||
investment and other loss | -3,150 | ||||||||||||||||||||||||||||||||||||
net earnings for the year | |||||||||||||||||||||||||||||||||||||
impairment of non-current assets | |||||||||||||||||||||||||||||||||||||
unrealized gains from marketable securities and silver futures derivatives | |||||||||||||||||||||||||||||||||||||
unrealized foreign exchange loss | |||||||||||||||||||||||||||||||||||||
operating cash flows before movements in working capital and taxes | 24,972 | 24,972,000 | 51,303,000 | -8,012,000 | -866,000 | 17,314,000 | |||||||||||||||||||||||||||||||
proceeds from prospectus offerings, net of share issue costs | |||||||||||||||||||||||||||||||||||||
proceeds from debt facility | |||||||||||||||||||||||||||||||||||||
repayment of debt facility | |||||||||||||||||||||||||||||||||||||
cash | 61,114 | 61,114,000 | 34,849,000 | -5,305,000 | -1,529,000 | 22,384,000 | 7,404,000 | -31,570,000 | 96,888,000 | ||||||||||||||||||||||||||||
short-term investments | 619 | 619,000 | -9,936,000 | -6,332,000 | -395,000 | 9,862,000 | |||||||||||||||||||||||||||||||
unrealized loss on foreign exchange derivatives | 7,541 | ||||||||||||||||||||||||||||||||||||
deferred income tax expense | |||||||||||||||||||||||||||||||||||||
loss per share | 0.15 | ||||||||||||||||||||||||||||||||||||
loss on sale of exploration project | |||||||||||||||||||||||||||||||||||||
operating loss | |||||||||||||||||||||||||||||||||||||
loss before income taxes | |||||||||||||||||||||||||||||||||||||
cash (used in) generated by financing activities | |||||||||||||||||||||||||||||||||||||
net loss for the year | |||||||||||||||||||||||||||||||||||||
proceeds from disposal of marketable securities | 48 | 48,000 | 23,000 | -2,173,000 | 2,488,000 | ||||||||||||||||||||||||||||||||
purchase of marketable securities and silver futures derivatives | |||||||||||||||||||||||||||||||||||||
proceeds from settlement of silver futures | |||||||||||||||||||||||||||||||||||||
primero acquisition costs, net of cash acquired | |||||||||||||||||||||||||||||||||||||
proceeds from atm program, net of share issue costs | |||||||||||||||||||||||||||||||||||||
net proceeds from debt facilities | |||||||||||||||||||||||||||||||||||||
repayment of primero’s debt facilities | |||||||||||||||||||||||||||||||||||||
net proceeds from convertible debentures | |||||||||||||||||||||||||||||||||||||
repayment of scotia debt facilities | |||||||||||||||||||||||||||||||||||||
cash spent on settlement of derivatives | |||||||||||||||||||||||||||||||||||||
proceeds from equipment financing obligations | |||||||||||||||||||||||||||||||||||||
repayment of equipment financing obligations | |||||||||||||||||||||||||||||||||||||
earnings per share-basic | -0.19 | -0.03 | |||||||||||||||||||||||||||||||||||
earnings per share-diluted | -0.19 | -0.03 | |||||||||||||||||||||||||||||||||||
operating cash flows before movements | |||||||||||||||||||||||||||||||||||||
in working capital and taxes | |||||||||||||||||||||||||||||||||||||
deposits paid for the acquisition of non-current assets | -56 | -56,000 | -1,259,000 | ||||||||||||||||||||||||||||||||||
purchase of marketable securities | |||||||||||||||||||||||||||||||||||||
proceeds from sale of marketable securities | |||||||||||||||||||||||||||||||||||||
repayment of prepayment facilities | -31,604 | -31,604,000 | -17,225,000 | 520,000 | -575,000 | -5,689,000 | |||||||||||||||||||||||||||||||
proceeds from private placement, net of share issue costs | |||||||||||||||||||||||||||||||||||||
effect of exchange rate on cash and cash equivalents held | |||||||||||||||||||||||||||||||||||||
in foreign currencies | |||||||||||||||||||||||||||||||||||||
net loss and comprehensive loss for the period | -7,433 | ||||||||||||||||||||||||||||||||||||
proceeds from term loan, net of issuance cost | 33,709 | 33,709,000 | |||||||||||||||||||||||||||||||||||
proceeds from revolving credit facility, net of issuance cost | 16,161 | 16,161,000 | |||||||||||||||||||||||||||||||||||
repayment of silvercrest credit facility | -15,000 | -15,000,000 | |||||||||||||||||||||||||||||||||||
repayment of lease obligations | -2,508 | -2,508,000 | -9,147,000 | 576,000 | 357,000 | -3,541,000 | -12,187,000 | ||||||||||||||||||||||||||||||
cash and cash equivalents, beginning of period | 51,018 | 51,018,000 | 15,358,000 | -17,961,000 | 40,345,000 | 25,146,000 | 111,591,000 | -5,851,000 | 91,184,000 | 19,354,000 | 44,461,000 | 41,163,000 | |||||||||||||||||||||||||
net income and comprehensive loss for the period | -7,433,000 | ||||||||||||||||||||||||||||||||||||
cash acquired from silvercrest, net of cash consideration | |||||||||||||||||||||||||||||||||||||
cash received (paid) on settlement of derivatives | |||||||||||||||||||||||||||||||||||||
proceeds from prepayment facility | |||||||||||||||||||||||||||||||||||||
proceeds from sale-and-leasebacks | 3,846,000 | -3,368,000 | |||||||||||||||||||||||||||||||||||
deposits applied (paid) for the acquisition of non-current assets | -15,000 | ||||||||||||||||||||||||||||||||||||
cash (paid) received on settlement of derivatives | |||||||||||||||||||||||||||||||||||||
proceeds from settlement of derivatives | |||||||||||||||||||||||||||||||||||||
accretion of decommissioning liabilities | 598,000 | -2,000 | 127,000 | -4,000 | 103,000 | 328,000 | -5,000 | -7,000 | 119,000 | ||||||||||||||||||||||||||||
loss from silver futures and marketable securities | |||||||||||||||||||||||||||||||||||||
gain on fair value adjustment on prepayment facilities | |||||||||||||||||||||||||||||||||||||
litigation proceeds | |||||||||||||||||||||||||||||||||||||
reversal of deferred litigation gain | |||||||||||||||||||||||||||||||||||||
impairment of marketable securities | |||||||||||||||||||||||||||||||||||||
unrealized foreign exchange loss and other | 729,000 | 583,000 | 420,000 | 516,000 | |||||||||||||||||||||||||||||||||
operating cash flows before movements in working capital and income taxes | 65,420,000 | -9,996,000 | 44,864,000 | ||||||||||||||||||||||||||||||||||
cash paid on settlement of silver futures | |||||||||||||||||||||||||||||||||||||
repayment of prepayment and debt facilities | -10,245,000 | ||||||||||||||||||||||||||||||||||||
income from silver futures and marketable securities | |||||||||||||||||||||||||||||||||||||
unrealized foreign exchange (gain) loss and other | |||||||||||||||||||||||||||||||||||||
loss and fair value adjustment on prepayment facilities | |||||||||||||||||||||||||||||||||||||
write-down of marketable securities | |||||||||||||||||||||||||||||||||||||
deposits paid for non-current assets | |||||||||||||||||||||||||||||||||||||
cash received on settlement of silver futures | |||||||||||||||||||||||||||||||||||||
gain from silver futures and marketable securities | |||||||||||||||||||||||||||||||||||||
(gain) loss and fair value adjustment on prepayment facilities | |||||||||||||||||||||||||||||||||||||
cash (paid) received on settlement of silver futures | |||||||||||||||||||||||||||||||||||||
(gain) income from silver futures and marketable securities | |||||||||||||||||||||||||||||||||||||
gain and fair value adjustment on prepayment facility | |||||||||||||||||||||||||||||||||||||
deposits paid for long-term assets | |||||||||||||||||||||||||||||||||||||
realized gain on silver futures | |||||||||||||||||||||||||||||||||||||
loss from silver futures and fvtpl marketable securities | 1,146,000 | ||||||||||||||||||||||||||||||||||||
gain from revenue and fair value adjustment of prepayment facility | |||||||||||||||||||||||||||||||||||||
write-down of afs marketable securities | 1,000,000 | ||||||||||||||||||||||||||||||||||||
increase in deposits on long-term assets | |||||||||||||||||||||||||||||||||||||
acquisition of silvermex | |||||||||||||||||||||||||||||||||||||
investment in marketable securities | |||||||||||||||||||||||||||||||||||||
proceeds from exercise of stock options and share warrants | 909,000 | -1,343,000 | 2,524,000 | 23,839,000 | -442,000 | -12,963,000 | 17,937,000 | ||||||||||||||||||||||||||||||
payment of lease obligations | |||||||||||||||||||||||||||||||||||||
repayment of debt and prepayment facilities | |||||||||||||||||||||||||||||||||||||
effect of exchange rate on cash held in foreign currencies | 387,000 | ||||||||||||||||||||||||||||||||||||
gross margin | |||||||||||||||||||||||||||||||||||||
general and administrative expense | |||||||||||||||||||||||||||||||||||||
income taxes | 37,119,000 | ||||||||||||||||||||||||||||||||||||
earnings per common share | |||||||||||||||||||||||||||||||||||||
basic | |||||||||||||||||||||||||||||||||||||
diluted | |||||||||||||||||||||||||||||||||||||
weighted-average shares outstanding | |||||||||||||||||||||||||||||||||||||
other comprehensive income | |||||||||||||||||||||||||||||||||||||
available for sale investments: | |||||||||||||||||||||||||||||||||||||
unrealized gain on fair value of investments | |||||||||||||||||||||||||||||||||||||
currency translation gain | |||||||||||||||||||||||||||||||||||||
other comprehensive loss | |||||||||||||||||||||||||||||||||||||
total comprehensive income for the year | |||||||||||||||||||||||||||||||||||||
acquisition of silvermex, net of cash paid | |||||||||||||||||||||||||||||||||||||
proceeds from debt facilities, net of repayments | |||||||||||||||||||||||||||||||||||||
proceeds from lease financing | 4,637,000 | 2,474,000 | |||||||||||||||||||||||||||||||||||
payment of other long-term liabilities | |||||||||||||||||||||||||||||||||||||
gain from fair value adjustment of prepayment facility | |||||||||||||||||||||||||||||||||||||
loss from derivative financial instruments and fair value through profit or loss marketable securities | |||||||||||||||||||||||||||||||||||||
current income tax (recovery) expense | |||||||||||||||||||||||||||||||||||||
deferred income taxes | 4,803,000 | 2,024,000 | |||||||||||||||||||||||||||||||||||
unrealized foreign exchange gain and other | |||||||||||||||||||||||||||||||||||||
expenditures on mineral property interests | |||||||||||||||||||||||||||||||||||||
decrease in deposits on long-term assets | |||||||||||||||||||||||||||||||||||||
realized gain of derivative financial instruments | |||||||||||||||||||||||||||||||||||||
payment of lease obligations, net of proceeds | |||||||||||||||||||||||||||||||||||||
(repayment of) proceeds from debt facility | |||||||||||||||||||||||||||||||||||||
gain from derivative financial instruments and fair value through profit or loss marketable securities | |||||||||||||||||||||||||||||||||||||
decrease (increase) in deposits on long-term assets | |||||||||||||||||||||||||||||||||||||
investment income from derivative financial instruments | |||||||||||||||||||||||||||||||||||||
current income taxes | 4,849,000 | ||||||||||||||||||||||||||||||||||||
operating cash flows before movements in working capital and | |||||||||||||||||||||||||||||||||||||
proceeds from realized gain on disposal of derivative financial instruments | 1,563,000 | ||||||||||||||||||||||||||||||||||||
investment loss from derivative financial instruments | |||||||||||||||||||||||||||||||||||||
operating cash flows before movements in working capital, finance costs and income taxes | |||||||||||||||||||||||||||||||||||||
realized gain on derivative financial instruments | -2,573,000 | 4,772,000 | -3,039,000 | 3,225,000 | |||||||||||||||||||||||||||||||||
increase in debt facilities, net of repayments | |||||||||||||||||||||||||||||||||||||
investment loss (income) from derivative financial instruments | |||||||||||||||||||||||||||||||||||||
deferred taxes | 4,002,000 | -3,447,000 | 4,682,000 | ||||||||||||||||||||||||||||||||||
operating cash flows before movements in working capital | 2,920,000 | 6,148,000 | 30,773,000 | ||||||||||||||||||||||||||||||||||
acquisition of property, plant, and equipment | |||||||||||||||||||||||||||||||||||||
acquisition of derivative financial instruments | |||||||||||||||||||||||||||||||||||||
proceeds from disposal of marketable securities, net of investments | |||||||||||||||||||||||||||||||||||||
prepayment facility, net of repayments | |||||||||||||||||||||||||||||||||||||
taxes paid | |||||||||||||||||||||||||||||||||||||
effect of exchange rate on cash held in foreign currency | 4,000 | 326,000 | |||||||||||||||||||||||||||||||||||
increase in cash equivalents | 44,135,000 | ||||||||||||||||||||||||||||||||||||
adjustment for items not affecting cash | |||||||||||||||||||||||||||||||||||||
stock-based compensation | |||||||||||||||||||||||||||||||||||||
accretion of reclamation obligation | |||||||||||||||||||||||||||||||||||||
other income from derivative financial instruments | |||||||||||||||||||||||||||||||||||||
future income tax provision | |||||||||||||||||||||||||||||||||||||
write-down of mineral properties | |||||||||||||||||||||||||||||||||||||
decrease (increase) in accounts receivable and other receivables | |||||||||||||||||||||||||||||||||||||
decrease (increase) in inventories | |||||||||||||||||||||||||||||||||||||
decrease (increase) in prepaid expenses and other | |||||||||||||||||||||||||||||||||||||
increase in accounts payable and accrued liabilities | |||||||||||||||||||||||||||||||||||||
increase in unearned revenue | |||||||||||||||||||||||||||||||||||||
increase in income and other taxes payable | |||||||||||||||||||||||||||||||||||||
decrease in vendor liability on mineral property | |||||||||||||||||||||||||||||||||||||
cash flows from operating activities | |||||||||||||||||||||||||||||||||||||
additions to plant and equipment | |||||||||||||||||||||||||||||||||||||
increase of deposits on long-term assets | |||||||||||||||||||||||||||||||||||||
net proceeds from pre-commercial operation | |||||||||||||||||||||||||||||||||||||
acquisition of normabec, less cash acquired | |||||||||||||||||||||||||||||||||||||
decrease in silver futures contract deposits | |||||||||||||||||||||||||||||||||||||
payment of restricted cash into trust account | |||||||||||||||||||||||||||||||||||||
cash flows used in investing activities | |||||||||||||||||||||||||||||||||||||
issuance of common shares and warrants, net of issue costs | |||||||||||||||||||||||||||||||||||||
issuance of common shares on exercise of stock options and warrants | |||||||||||||||||||||||||||||||||||||
payment of capital lease obligations | |||||||||||||||||||||||||||||||||||||
proceeds from (repayment of) prepayment facility | |||||||||||||||||||||||||||||||||||||
proceeds from (repayment of) debt facilities | |||||||||||||||||||||||||||||||||||||
repayment of other long-term liabilities | |||||||||||||||||||||||||||||||||||||
cash flows from financing activities | |||||||||||||||||||||||||||||||||||||
effect of exchange rate changes on cash held in foreign currency | |||||||||||||||||||||||||||||||||||||
cash and cash equivalents - beginning of the year | |||||||||||||||||||||||||||||||||||||
cash and cash equivalents - end of year | |||||||||||||||||||||||||||||||||||||
cash and cash equivalents is comprised of: | |||||||||||||||||||||||||||||||||||||
short term deposits | |||||||||||||||||||||||||||||||||||||
non-cash financing and investing activities |