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Consolidated Statements of Cash Flows - CAD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net earnings from continuing operations $ 85,285 $ 76,627
Adjustments for:    
Share-based compensation 7,119 7,729
Depletion and amortization 52,415 49,422
Impairment of assets 4,179 5,050
Finance costs 7,340 6,973
Share of loss of associates 1,863 2,246
Net gain on acquisition of investments (48) (7,416)
Change in fair value of financial assets at fair value through profit and loss 16,848 (6,987)
Net gain on dilution of investments (3,604) 0
Foreign exchange (gain) loss (19,907) 186
Deferred income tax expense 26,688 24,695
Other 116 107
Net cash flows provided by operating activities before changes in non-cash working capital items 178,294 158,632
Changes in non-cash working capital items (3,231) (5,413)
Net operating cash flows provided by continuing operations 175,063 153,219
Net operating cash flows used by discontinued operations (65,116) (47,124)
Net cash flows provided by operating activities 109,947 106,095
Investing activities    
Net proceeds of short-term investments 2,960 3,501
Acquisitions of investments (12,472) (35,419)
Proceeds from disposal of investments 0 7,882
Acquisitions of royalty and stream interests (124,209) (90,980)
Cash balance of Osisko Development Corp. at the time of deconsolidation (133,138) 0
Other (18) (40)
Net investing cash flows used by continuing operations (266,877) (115,056)
Net investing cash flows used by discontinued operations (114,984) (156,982)
Net cash flows used in investing activities (381,861) (272,038)
Financing activities    
Bought deal equity financing 311,962 0
Share issue costs (13,941) 0
Exercise of share options and shares issued under the share purchase plan 4,387 14,544
Increase in long-term debt 147,833 50,000
Repayment of long-term debt (413,120) (50,000)
Normal course issuer bid purchase of common shares (22,135) (30,791)
Dividends paid (37,929) (32,464)
Capital payments on lease liabilities (874) (834)
Withholding taxes on settlement of restricted and deferred share units (2,224) (3,715)
Other (555) (1,079)
Net financing cash flows used by continuing operations (26,596) (54,339)
Net financing cash flows provided by discontinued operations 245,833 34,738
Net cash flows used in investing activities 219,237 (19,601)
Decrease in cash before effects of exchange rate changes (52,677) (185,544)
Effects of exchange rate changes on cash    
Continuing operations 21,008 (920)
Discontinued operations 6,519 (362)
Net decrease in cash (25,150) (186,826)
Cash - January 1 115,698 302,524
Cash - December 31 $ 90,548 $ 115,698