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Financial Instruments and Risk Management (Tables) | 12 Months Ended
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Dec. 31, 2017
Disclosure of detailed information about financial instruments [abstract] |
Disclosure of fair value measurement of assets |
| December 31, 2017 | December 31, 2016
| Level 1 | Level 2 | Level 1 | Level 2
Financial assets |  |  |  |
Fair value through profit or loss |  |  |  |
Prepayment option embedded derivative | — |  | — |  | — |  | 9.6 |
Gold options | — |  | 0.5 |  | — |  | 3.3 |
Fair value through OCI |  |  |  |
Equity securities | 35.8 |  | — |  | 14.1 |  | — |
Currency hedging derivative instruments | — |  | 5.0 |  | — |  | — |
Financial liabilities |  |  |  |
Fair value through profit or loss |  |  |  |
Share purchase warrants | (0.1 | ) | — |  | (2.4 | ) | — |
Currency derivative instruments | — |  | — |  | — |  | (3.3 | )
| $35.7 |  | $5.5 |  | $11.7 |  | $9.6 |
Disclosure of fair value measurement of liabilities |
| December 31, 2017 | December 31, 2016
| Level 1 | Level 2 | Level 1 | Level 2
Financial assets |  |  |  |
Fair value through profit or loss |  |  |  |
Prepayment option embedded derivative | — |  | — |  | — |  | 9.6 |
Gold options | — |  | 0.5 |  | — |  | 3.3 |
Fair value through OCI |  |  |  |
Equity securities | 35.8 |  | — |  | 14.1 |  | — |
Currency hedging derivative instruments | — |  | 5.0 |  | — |  | — |
Financial liabilities |  |  |  |
Fair value through profit or loss |  |  |  |
Share purchase warrants | (0.1 | ) | — |  | (2.4 | ) | — |
Currency derivative instruments | — |  | — |  | — |  | (3.3 | )
| $35.7 |  | $5.5 |  | $11.7 |  | $9.6 |
Disclosure of detailed information about hedges | The fair value of derivative instruments is as follows:
|  |  | December 31, | December 31,
|  |  | 2017 | 2016
Derivatives designated as hedging instruments |  |  |  |
Currency hedging derivative instruments |  |  | $5.0 |  | — |
Derivatives not designated as hedging instruments |  |  |  |
Gold option asset |  |  | $0.5 |  | $3.3 |
Currency derivative instruments |  |  | — |  | (3.3 | )
Share purchase warrants liability |  |  | (0.1 | ) | (2.4 | )
|  |  | $0.4 |  | ($2.4 | )
Disclosure of information about credit exposures designated as measured at fair value through profit or loss | The effective portion of the changes in fair value of the hedging instrument for the years ended December 31, 2017 and 2016 recorded in accumulated other comprehensive income are:
| December 31, | December 31,
| 2017 | 2016
Balance, beginning of the period | — |  | — |
Gains on currency instruments | 11.2 |  | — |
Less: realized gains on CAD currency instruments | (2.2 | ) | — |
Less: realized gains on MXN currency instruments | (1.3 | ) | — |
Deferred income tax related to hedging instrument | (1.7 | ) | — |
| $6.0 |  | — |
Schedule of Contracts Settled on Monthly Basis | The open contracts, which settle on a monthly basis, are summarized as at December 31, 2017: Canadian dollar contracts
Period Covered | Contract type | Contracts (CAD$ Millions) | Average minimum rate (USD/CAD) | Average maximum rate (USD/CAD)
2018 | Collars and forwards | 174.0 | 1.31 | 1.36
Mexican Peso contracts
Period Covered | Contract type | Contracts (MXN Millions) | Average minimum rate (MXN/USD) | Average maximum rate (MXN/USD)
2018 | Collars and forwards | 1,560.0 | 18.72 | 20.71
Schedule of Unrealized Gains (Losses) on Foreign Currency Contracts | The following table illustrates unrealized gains on foreign currency contracts for the years ended:
| December 31, | December 31,
| 2017 | 2016
Foreign currency hedged contracts |  |
Unrealized gains | $11.2 |  | — |
Foreign currency non-hedged contracts |  |
Unrealized gains | 2.1 |  | 2.3 |
| $13.3 |  | $2.3 |
Schedule of Outstanding Derivative Contracts | The following gold collar contracts are outstanding as of December 31, 2017:
Period Covered | Ounces subject to contract |  | Average purchase put option |  | Average sold call option |
2018 | 50,100 |  | $1,270 |  | $1,444 |
Schedule of Foreign Currency Exchange Rate Risk |
| December 31, 2017 | December 31, 2016
Impact of a 10% change in foreign exchange rates |  |
Canadian dollar | $7.8 |  | $2.3 |
Mexican peso | 1.5 |  | 0.7 |
Disclosure of credit risk exposure | The currencies of the Company's financial instruments and other foreign currency denominated liabilities based on notional amounts, denominated in U.S dollar equivalents were as follows:
| Canadian Dollars | Mexican Peso
| December 31, 2017 | December 31, 2016 | December 31, 2017 | December 31, 2016
Cash and cash equivalents | $17.2 |  | $22.8 |  | $6.8 |  | $7.3 |
Equity securities | 35.8 |  | 14.1 |  | — |  | — |
Amounts receivable | 7.4 |  | 3.3 |  | 22.0 |  | 38.2 |
Accounts payable and accrued liabilities | (56.1 | ) | (42.7 | ) | (14.7 | ) | (16.1 | )
Current portion of financing obligations | (4.2 | ) | (1.5 | ) | — |  | — |
Financing obligations | (3.3 | ) | (3.7 | ) | — |  | — |
Total exposure to currency risk | (3.2 | ) | (7.7 | ) | 14.1 |  | 29.4 |
The Company's maximum exposure to credit risk is as follows:
| December 31, 2017 | December 31, 2016
Cash and cash equivalents |  | $200.8 |  |  | $252.2 |
Trade receivables | 4.0 |  | 5.9 |
Total financial instrument exposure to credit risk | $204.8 |  | $258.1 |
Schedule of Maturities of Debt | The following table shows the contractual maturities of debt commitments. The amount presented represents the future undiscounted principal and interest cash flows, and therefore, do not equate to the carrying amounts on the consolidated statements of financial position.
| Less than 1 year |  | 2 - 3 years |  | 4 - 5 years |  | More than 5 years |  | Total |
Operating and financing leases | 5.4 |  | 5.6 |  | 2.0 |  | 2.9 |  | 15.9 |
Accounts payable and accrued liabilities | 96.8 |  | — |  | — |  | — |  | 96.8 |
Decommissioning liability | — |  | — |  | — |  | 54.8 |  | 54.8 |
Contract mining | 47.9 |  | 72.0 |  | 47.8 |  | 38.9 |  | 206.6 |
Flow-through share obligation | 0.7 |  | — |  | — |  | — |  | 0.7 |
Capital commitments | 21.8 |  | — |  | — |  | — |  | 21.8 |
| $172.6 |  | $77.6 |  | $49.8 |  | $96.6 |  | $396.6 |

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