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Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of detailed information about financial instruments [abstract]

Disclosure of fair value measurement of assets

			December 31, 2024									December 31, 2023
			Level 1			Level 2			Level 3			Level 1			Level 2			Level 3
Financial assets (liabilities)
Fair value through profit or loss
Gold options not designated as hedging instruments1			—			—			—			—			(0.8)			—
Gold forwards acquired from Argonaut not designated as hedging instruments 1			—			(140.0)			—			—			—			—
Share purchase warrants			—			—			—			—			(0.4)			—
Fair value through OCI
Equity securities			24.0			—			—			13.0			—			—
Currency derivatives designated as hedging instruments1			—			(9.0)			—			—			6.6			—
Fuel derivatives designated as hedging instruments1			—			(0.1)			—			—			(0.2)			—
			$24.0			($149.1)			$—			$13.0			$5.2			$—

1. On a gross basis, total derivatives recognized as at December 31, 2024 consist of total assets of nil, and total liabilities of $149.1 million ($9.1 million and $140.0 million classified as current and non-current liabilities, respectively) included in consolidated statements of financial position (December 31, 2023 - total assets of $6.6 million and total liabilities of $1.0 million).

Fair Value Methodology

Disclosure of fair value measurement of liabilities

			December 31, 2024									December 31, 2023
			Level 1			Level 2			Level 3			Level 1			Level 2			Level 3
Financial assets (liabilities)
Fair value through profit or loss
Gold options not designated as hedging instruments1			—			—			—			—			(0.8)			—
Gold forwards acquired from Argonaut not designated as hedging instruments 1			—			(140.0)			—			—			—			—
Share purchase warrants			—			—			—			—			(0.4)			—
Fair value through OCI
Equity securities			24.0			—			—			13.0			—			—
Currency derivatives designated as hedging instruments1			—			(9.0)			—			—			6.6			—
Fuel derivatives designated as hedging instruments1			—			(0.1)			—			—			(0.2)			—
			$24.0			($149.1)			$—			$13.0			$5.2			$—

1. On a gross basis, total derivatives recognized as at December 31, 2024 consist of total assets of nil, and total liabilities of $149.1 million ($9.1 million and $140.0 million classified as current and non-current liabilities, respectively) included in consolidated statements of financial position (December 31, 2023 - total assets of $6.6 million and total liabilities of $1.0 million).

Fair Value Methodology

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 currency option and forward contracts for the years ended December 31, 2024 and 2023 recorded in accumulated other comprehensive loss is:

			December 31, 2024			December 31, 2023
Balance, beginning of the period			$6.4			($1.9)
Change in value on currency instruments			(15.5)			18.1
Add: realized loss on CAD currency instruments			0.8			1.0
Less: realized gain on MXN currency instruments			(0.9)			(8.1)
Deferred income tax related to hedging instrument			3.9			(2.7)
			($5.3)			$6.4

The effective portion of the changes in fair value of the fuel option contracts for the years ended December 31, 2024 and 2023 recorded in accumulated other comprehensive loss is:

									December 31, 2024			December 31, 2023
Balance, beginning of the period									($0.1)			$0.1
Change in value on fuel contracts									(0.1)			(0.2)
Add: realized loss on fuel contracts									0.1			—
Deferred income tax related to fuel contracts									(0.1)			—
									($0.2)			($0.1)

Schedule of Contracts Settled on Monthly Basis

The open contracts, which settle on a monthly basis, are summarized as at December 31, 2024:

Canadian dollar contracts:

Period Covered			Contract type			Contracts (CAD$ Millions)			Average minimum rate (USD/CAD)			Average maximum rate (USD/CAD)
2025			Forwards			24.0			1.41			—
2025			Collars			603.0			1.35			1.42

Mexican Peso contracts:

Period Covered			Contract type			Contracts (MXN Millions)			Average minimum rate (MXN/USD)			Average maximum rate (MXN/USD)
2025			Collars			1,260.0			19.04			22.58

Schedule of Foreign Currency Exchange Rate Risk

			December 31, 2024			December 31, 2023
Impact of a 10% change in foreign exchange rates
Canadian dollar			$14.5			$10.0
Mexican peso			5.3			1.3

Disclosure of credit risk exposure

The currencies of the Company's financial instruments and other foreign currency denominated assets and liabilities based on notional amounts, denominated in U.S dollar equivalents were as follows:

			Canadian Dollars						Mexican Peso
			December 31, 2024			December 31, 2023			December 31, 2024			December 31, 2023
Cash and cash equivalents			$18.9			$25.0			$11.8			$12.4
Equity securities			24.0			13.0			—			—
Amounts receivable			35.9			14.9			10.1			38.6
Other monetary net liabilities			(66.8)			(16.8)			(6.6)			(6.6)
Accounts payable and accrued liabilities			(153.6)			(124.1)			(17.7)			(16.4)
Income taxes payable			(3.2)			(0.1)			(45.6)			(40.2)
Total exposure to currency risk			(144.8)			(88.1)			(48.0)			(12.2)

The Company's maximum exposure to credit risk is as follows:

			December 31, 2024			December 31, 2023
Cash and cash equivalents			$327.2			$224.8
Derivative assets			—			6.6
Other receivables			4.2			11.2
Total financial instrument exposure to credit risk			$331.4			$242.6

Schedule of Maturities of Debt

The following table shows the maturities of contractual and other commitments. The amount presented represents the future undiscounted principal and interest cash flows 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
Leases			17.2			19.7			2.7			—			39.6
Debt			—			—			250.0			—			250.0
Accounts payable and accrued liabilities			233.0			—			—			—			233.0
Decommissioning liabilities			6.5			36.6			58.7			92.0			193.8
Capital commitments			131.1			6.0			—			—			137.1
			$387.8			$62.3			$311.4			$92.0			$853.5

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The disclosure of the credit risk exposure. Credit risk exposure is the credit risk inherent in an entity’s financial assets and commitments to extend credit.

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