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Financial Instruments and Risk Management (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure of detailed information about financial instruments [abstract] |
Disclosure of fair value measurement of assets |
| December 31, 2021 | December 31, 2020
| Level 1 | Level 2 | Level 1 | Level 2
Financial assets (liabilities) |  |  |  |
Fair value through profit or loss |  |  |  |
Gold options | — |  | 0.5 |  | — |  | — |
Fair value through OCI |  |  |  |
Equity securities | 23.9 |  | — |  | 43.7 |  | — |
Currency hedging derivative instruments | — |  | 2.6 |  | — |  | 4.3 |
Fuel options | — |  | 0.4 |  | — |  | 0.1 |
| $23.9 |  | $3.5 |  | $43.7 |  | $4.4 |
Disclosure of fair value measurement of liabilities |
| December 31, 2021 | December 31, 2020
| Level 1 | Level 2 | Level 1 | Level 2
Financial assets (liabilities) |  |  |  |
Fair value through profit or loss |  |  |  |
Gold options | — |  | 0.5 |  | — |  | — |
Fair value through OCI |  |  |  |
Equity securities | 23.9 |  | — |  | 43.7 |  | — |
Currency hedging derivative instruments | — |  | 2.6 |  | — |  | 4.3 |
Fuel options | — |  | 0.4 |  | — |  | 0.1 |
| $23.9 |  | $3.5 |  | $43.7 |  | $4.4 |
Disclosure of detailed information about financial instruments | As at December 31, 2021, the Company held shares in the following companies:
Company |  | Fair Value
Red Pine Exploration Inc. |  | $9.3 |
Monarch Mining Corp. |  | 4.8 |
Orford Mining Corp. |  | 4.7 |
Manitou Gold Inc. |  | 3.1 |
Other investments |  | 2.0 |
|  | $23.9 |
Disclosure of detailed information about hedges | The fair value of derivative instruments is as follows:
|  |  | December 31, | December 31,
|  |  | 2021 | 2020
Derivatives designated as hedging instruments |  |  |  |
Currency hedging derivative instruments |  |  | 2.6 |  | $4.3 |
Fuel options |  |  | 0.4 |  | 0.1 |
|  |  | $3.0 |  | $4.4 |
Derivatives not designated as hedging instruments |  |  |  |
Gold options |  |  | $0.5 |  | — |
Disclosure of information about credit exposures designated as measured at fair value through profit or loss |
| December 31, | December 31,
| 2021 | 2020
Balance, beginning of the period | $5.7 |  | $4.6 |
Unrealized gain (loss) on currency instruments | 2.1 |  | (0.4) |
Less: realized (gain) loss on CAD currency instruments | (1.7) |  | 0.8 |
Less: realized (gain) loss on MXN currency instruments | (2.1) |  | 0.6 |
Deferred income tax related to hedging instrument | — |  | 0.1 |
| $4.0 |  | $5.7 |
Schedule of Contracts Settled on Monthly Basis | The open contracts, which settle on a monthly basis, are summarized as at December 31, 2021: Canadian dollar contracts
Period Covered | Contract type | Contracts (CAD$ Millions) | Average minimum rate (USD/CAD) | Average maximum rate (USD/CAD)
2022 | Collars | 507.0 | 1.25 | 1.29
2022 | Forwards | 4.0 | — | 1.29
2022 | Bought Puts | 14.0 | 1.29 | —
Mexican Peso contracts
Period Covered | Contract type | Contracts (MXN Millions) | Average minimum rate (MXN/USD) | Average maximum rate (MXN/USD) |
2022 | Collars | 1,965.0 | 20.94 | 23.65 |
Schedule of Outstanding Derivative Contracts | The following gold collar contracts are outstanding as of December 31, 2021:
Period Covered | Contract type | Ounces subject to contract | Average purchase put option | Average sold call option
2022 | Collars | 110,700 | $1,762 | $2,039
1.The Company also has 110,700 of sold put options at an average price of $1,642 per ounce that mature in the same period as the corresponding collars.
Schedule of Foreign Currency Exchange Rate Risk |
| December 31, 2021 | December 31, 2020
Impact of a 10% change in foreign exchange rates |  |
Canadian dollar | $1.4 |  | $3.3 |
Mexican peso | 0.4 |  | 0.4 |
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, 2021 | December 31, 2020 | December 31, 2021 | December 31, 2020
Cash and cash equivalents | $21.3 |  | $33.5 |  | $8.8 |  | $6.5 |
Equity securities | 23.9 |  | 43.7 |  | — |  | — |
Amounts receivable | 7.9 |  | 6.9 |  | 21.0 |  | 18.7 |
Other monetary assets (liabilities) | 17.2 |  | 20.2 |  | (0.6) |  | 4.1 |
Accounts payable and accrued liabilities | (83.8) |  | (71.7) |  | (26.1) |  | (25.4) |
Deferred income taxes | (561.2) |  | (490.6) |  | (62.0) |  | (58.2) |
Total exposure to currency risk | (574.7) |  | (458.0) |  | (58.9) |  | (54.3) |
The Company's maximum exposure to credit risk is as follows:
| December 31, 2021 | December 31, 2020
Cash and cash equivalents | $172.5 |  | $220.5 |
Other receivables | 4.0 |  | 7.6 |
Total financial instrument exposure to credit risk | $176.5 |  | $228.1 |
Schedule of Maturities of Debt | The following table shows the maturities of contractual 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 | 0.5 |  | 0.9 |  | 0.9 |  | — |  | 2.3 |
Accounts payable and accrued liabilities | 157.4 |  | — |  | — |  | — |  | 157.4 |
Decommissioning liability | 3.3 |  | 21.7 |  | 23.9 |  | 66.0 |  | 114.9 |
Contract mining | 65.5 |  | 51.2 |  | 38.8 |  | 9.3 |  | 164.8 |
Capital commitments | 71.2 |  | 26.3 |  | 26.3 |  | — |  | 123.8 |
| $297.9 |  | $100.1 |  | $89.9 |  | $75.3 |  | $563.2 |

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