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Financial Instruments and Risk Management (Tables)
 12 Months Ended
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