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Share Capital (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Disclosure of share capital, reserves and other equity interest [Abstract] |
Schedule of Common Stock Outstanding Roll Forward |
| Number of Shares | Amount
Outstanding at December 31, 2022 | 393,806,489 |  | $3,703.8 |
Shares issued through: |  |
Share-based compensation plans | 1,425,024 |  | 12.3 |
Manitou acquisition (Note 9) | 1,045,593 |  | 13.4 |
DRIP (iii) | 353,084 |  | 4.1 |
ESPP (iv) | 469,566 |  | 5.6 |
Exercise of warrants | 60,983 |  | 0.9 |
Cancellation of unexchanged shares | (203,755) |  | (1.5) |
Outstanding at December 31, 2023 | 396,956,984 |  | $3,738.6 |
Shares issued through: |  |
Argonaut acquisition (Note 6) | 20,423,051 |  | 360.1 |
Share-based compensation plans | 1,006,149 |  | 8.6 |
Orford acquisition (Note 9) | 908,689 |  | 13.3 |
Flow-through share financing (ii) | 451,990 |  | 6.5 |
DRIP (iii) | 349,088 |  | 5.8 |
ESPP (iv) | 401,537 |  | 6.3 |
Exercise of Manitou and Orford warrants and stock options | 88,308 |  | 1.4
Cancellation of unexchanged shares | (220,745) |  | (2.1) |
Outstanding at December 31, 2024 | 420,365,051 |  | $4,138.5 |
Disclosure of number and weighted average exercise prices of share options | The following is a continuity of the changes in the number of stock options outstanding:
| Number | Weighted average exercise price (CAD$)
Outstanding at December 31, 2022 | 3,924,851 |  | $8.32 |
Granted | 481,449 |  | 14.10 |
Exercised | (1,424,916) |  | 8.01 |
Forfeited | (215,007) |  | 10.40
Outstanding at December 31, 2023 | 2,766,377 |  | $9.32 |
Granted | 471,177 |  | 16.07 |
Exercised | (1,006,149) |  | 7.94 |
Outstanding at December 31, 2024 | 2,231,405 |  | $11.37 |
Weighted average fair value assumptions used in the Black-Scholes valuation for stock options | The following table presents the weighted average fair value assumptions used in the Black-Scholes valuation:
For options granted in the year ended: | December 31, 2024 | December 31, 2023
Weighted average share price at grant date (CAD$) | $16.07 |  | $14.10 |
Average risk-free rate | 3.77% | 3.87 | %
Average expected dividend yield | 0.78% | 0.96 | %
Expected stock price volatility (based on historical volatility) | 40% | 48 | %
Expected life of option (months) | 42 | 42
Weighted average per share fair value of stock options granted (CAD$) | $5.08 | $4.94
Disclosure of number and weighted average remaining contractual life of outstanding share options | Stock options outstanding and exercisable as at December 31, 2024:
|  | Outstanding |  | Exercisable
Range of exercise prices (CAD$) |  | Number of options | Weighted average exercise price (CAD$) | Weighted average remaining contractual life (years) |  | Number of options | Weighted average exercise price (CAD$)
$6.01 - $7.00 |  | 54,167 |  | 6.58 |  | 1.20 |  | 54,167 |  | 6.58 |
$7.01 - $8.00 |  | 313,745 |  | 7.63 |  | 2.02 |  | 313,745 |  | 7.63 |
$8.01 - $11.00 |  | 985,661 |  | 9.47 |  | 3.60 |  | 803,759 |  | 9.42 |
$11.01 - $14.05 |  | 399,125 |  | 14.05 |  | 5.18 |  | 117,766 |  | 14.05 |
$14.06 - $23.83 |  | 478,707 |  | 16.08 |  | 4.79 |  | — |  | — |
|  | 2,231,405 |  | $11.37 |  | 4.09 |  | 1,289,437 |  | $9.29 |
Stock options outstanding and exercisable by range of exercise prices | Stock options outstanding and exercisable as at December 31, 2024:
|  | Outstanding |  | Exercisable
Range of exercise prices (CAD$) |  | Number of options | Weighted average exercise price (CAD$) | Weighted average remaining contractual life (years) |  | Number of options | Weighted average exercise price (CAD$)
$6.01 - $7.00 |  | 54,167 |  | 6.58 |  | 1.20 |  | 54,167 |  | 6.58 |
$7.01 - $8.00 |  | 313,745 |  | 7.63 |  | 2.02 |  | 313,745 |  | 7.63 |
$8.01 - $11.00 |  | 985,661 |  | 9.47 |  | 3.60 |  | 803,759 |  | 9.42 |
$11.01 - $14.05 |  | 399,125 |  | 14.05 |  | 5.18 |  | 117,766 |  | 14.05 |
$14.06 - $23.83 |  | 478,707 |  | 16.08 |  | 4.79 |  | — |  | — |
|  | 2,231,405 |  | $11.37 |  | 4.09 |  | 1,289,437 |  | $9.29 |
Continuity of the changes in the number of other long-term incentive plans (LTIP) outstanding | The following is a continuity of the changes in the number of other long-term incentive plans ("LTI") outstanding for the years ended December 31, 2024 and 2023:
| Restricted share units ("RSU") |  | Deferred share units ("DSU") | Performance share units ("PSU")
Outstanding units, December 31, 2022 | 2,134,549 |  |  | 1,054,606 |  | 1,350,425 |
Granted | 747,993 |  |  | 112,653 |  | 369,589 |
Forfeited | (383,686) |  |  | — |  | (134,563) |
Settled | (587,118) |  |  | (154,025) |  | (426,163) |
Outstanding units, December 31, 2023 | 1,911,738 |  |  | 1,013,234 |  | 1,159,288 |
Granted | 719,978 |  |  | 93,546 |  | 348,474 |
Forfeited/expired | (195,159) |  |  | — |  | (63,254) |
Settled | (524,965) |  |  | — |  | (412,713) |
Outstanding units, December 31, 2024 | 1,911,592 |  |  | 1,106,780 |  | 1,031,795 |
Schedule of Earnings (loss) per share |
|  |  | For the years ended
|  |  | December 31, 2024 | December 31, 2023
Net earnings |  |  | $284.3 |  | $210.0 |
Weighted average number of common shares outstanding (in thousands) |  |  | 408,165 |  | 395,509 |
Basic earnings per share |  |  | $0.70 |  | $0.53 |
Dilutive effect of potential common share equivalents (in thousands) |  |  | 2,381 |  | 2,560 |
Diluted weighted average number of common shares outstanding (in thousands) |  |  | 410,546 |  | 398,069 |
Diluted earnings per share |  |  | $0.69 |  | $0.53 |
Share units excluded from calculation of diluted earnings per share for the years ended:
(in thousands) |  |  | December 31, 2024 | December 31, 2023
Stock options |  |  | 5 |  | 4 |

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