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Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Financial information relating to the reporting segments | Financial information relating to the Company’s segments is as follows (in thousands):
Three Months Ended June 30, 2025 | Las Chispas |  | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 53,125 |  |  | $ | 56,067 |  |  | $ | 46,267 |  |  | $ | 89,726 |  |  | $ | 77,929 |  |  | $ | — |  |  | $ | — |  |  | $ | 323,114 |
Silver sales | 49,525 |  |  | 58,072 |  |  | 48,710 |  |  | 40 |  |  | 1,189 |  |  | — |  |  | — |  |  | 157,536 |
Metal sales | 102,650 |  |  | 114,139 |  |  | 94,977 |  |  | 89,766 |  |  | 79,118 |  |  | — |  |  | — |  |  | 480,650 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 57,747 |  |  | 48,703 |  |  | 47,928 |  |  | 46,083 |  |  | 28,993 |  |  | — |  |  | — |  |  | 229,454 |
Amortization | 22,375 |  |  | 9,406 |  |  | 16,748 |  |  | 10,221 |  |  | 1,549 |  |  | 928 |  |  | 194 |  |  | 61,421 |
Exploration | 3,262 |  |  | 4,014 |  |  | 1,224 |  |  | 1,535 |  |  | 3,479 |  |  | 9,228 |  |  | 514 |  |  | 23,256 |
Other operating expenses(2) | 925 |  |  | 2,989 |  |  | 2,651 |  |  | 622 |  |  | 1,118 |  |  | 2,929 |  |  | 15,177 |  |  | 26,411 |
Costs and expenses | 84,309 |  |  | 65,112 |  |  | 68,551 |  |  | 58,461 |  |  | 35,139 |  |  | 13,085 |  |  | 15,885 |  |  | 340,542 |
Income (loss) from operations | 18,341 |  |  | 49,027 |  |  | 26,426 |  |  | 31,305 |  |  | 43,979 |  |  | (13,085) |  |  | (15,885) |  |  | 140,108 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value adjustments, net | — |  |  | — |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |
Interest expense, net | 16 |  |  | (84) |  |  | (2,615) |  |  | (80) |  |  | (19) |  |  | — |  |  | (5,469) |  |  | (8,251) |
Other, net(3) | 804 |  |  | (1,264) |  |  | (152) |  |  | (176) |  |  | (29) |  |  | (84) |  |  | 2,361 |  |  | 1,460 |
Income (loss) before income and mining taxes | 19,161 |  |  | 47,679 |  |  | 23,663 |  |  | 31,049 |  |  | 43,931 |  |  | (13,169) |  |  | (18,993) |  |  | 133,321 |
Income and mining tax (expense) benefit | (35,206) |  |  | (9,415) |  |  | (3,821) |  |  | (2,397) |  |  | (9,341) |  |  | — |  |  | (2,415) |  |  | (62,595) |
Net Income (loss) | $ | (16,045) |  |  | $ | 38,264 |  |  | $ | 19,842 |  |  | $ | 28,652 |  |  | $ | 34,590 |  |  | $ | (13,169) |  |  | $ | (21,408) |  |  | $ | 70,726 |
Segment assets(4) | $ | 1,725,990 |  |  | $ | 308,483 |  |  | $ | 1,253,548 |  |  | $ | 246,478 |  |  | $ | 124,995 |  |  | $ | 221,675 |  |  | $ | 58,061 |  |  | $ | 3,939,230 |
Capital expenditures | $ | 9,200 |  |  | $ | 5,643 |  |  | $ | 24,466 |  |  | $ | 16,318 |  |  | $ | 3,591 |  |  | $ | 1,528 |  |  | $ | 61 |  |  | $ | 60,807 |
(1) Excludes amortization. (2) Other operating expenses include General and administrative and Pre-development, reclamation, and other (3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail. (4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, mineral interests, and goodwill.
Three Months Ended June 30, 2024 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 42,411 |  |  | $ | 17,368 |  |  | $ | 51,104 |  |  | $ | 43,202 |  |  | $ | — |  |  | $ | — |  |  | $ | 154,085 |
Silver sales | 40,835 |  |  | 25,396 |  |  | (50) |  |  | 1,760 |  |  | — |  |  | — |  |  | 67,941 |
Metal sales | 83,246 |  |  | 42,764 |  |  | 51,054 |  |  | 44,962 |  |  | — |  |  | — |  |  | 222,026 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 48,227 |  |  | 36,655 |  |  | 40,721 |  |  | 19,114 |  |  | — |  |  | — |  |  | 144,717 |
Amortization | 10,843 |  |  | 8,570 |  |  | 6,445 |  |  | 1,067 |  |  | 790 |  |  | 213 |  |  | 27,928 |
Exploration | 2,578 |  |  | 977 |  |  | 1,291 |  |  | 1,126 |  |  | 6,445 |  |  | 457 |  |  | 12,874 |
Other operating expenses(2) | 2,446 |  |  | 2,826 |  |  | 1,129 |  |  | 1,144 |  |  | 2,404 |  |  | 9,882 |  |  | 19,831 |
Costs and expenses | 64,094 |  |  | 49,028 |  |  | 49,586 |  |  | 22,451 |  |  | 9,639 |  |  | 10,552 |  |  | 205,350 |
Income (loss) from operations | 19,152 |  |  | (6,264) |  |  | 1,468 |  |  | 22,511 |  |  | (9,639) |  |  | (10,552) |  |  | 16,676 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (21) |  |  | (21) |
Fair value adjustments, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Interest expense, net | 397 |  |  | (1,055) |  |  | (499) |  |  | (125) |  |  | (4) |  |  | (11,876) |  |  | (13,162) |
Other, net(3) | 2,881 |  |  | (146) |  |  | (82) |  |  | (45) |  |  | 18 |  |  | 2,496 |  |  | 5,122 |
Income (loss) before income and mining taxes | 22,430 |  |  | (7,465) |  |  | 887 |  |  | 22,341 |  |  | (9,625) |  |  | (19,953) |  |  | 8,615 |
Income and mining tax (expense) benefit | (7,311) |  |  | 672 |  |  | — |  |  | (1,872) |  |  | — |  |  | 1,322 |  |  | (7,189) |
Net Income (loss) | $ | 15,119 |  |  | $ | (6,793) |  |  | $ | 887 |  |  | $ | 20,469 |  |  | $ | (9,625) |  |  | $ | (18,631) |  |  | $ | 1,426 |
Segment assets(4) | $ | 302,034 |  |  | $ | 1,125,586 |  |  | $ | 196,671 |  |  | $ | 108,268 |  |  | $ | 213,833 |  |  | $ | 51,885 |  |  | $ | 1,998,277 |
Capital expenditures | $ | 5,871 |  |  | $ | 27,530 |  |  | $ | 16,477 |  |  | $ | 1,156 |  |  | $ | 350 |  |  | $ | 21 |  |  | $ | 51,405 |
(1) Excludes amortization. (2) Other operating expenses include General and administrative and Pre-development, reclamation, and other (3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail. (4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, mineral interests, and goodwill.
Six Months Ended June 30, 2025 | Las Chispas |  | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 81,007 |  |  | $ | 99,762 |  |  | $ | 88,050 |  |  | $ | 154,933 |  |  | $ | 134,689 |  |  | $ | — |  |  | $ | — |  |  | $ | 558,441 |
Silver sales | 79,662 |  |  | 110,183 |  |  | 89,553 |  |  | 76 |  |  | 2,797 |  |  | — |  |  | — |  |  | 282,271 |
Metal sales | 160,669 |  |  | 209,945 |  |  | 177,603 |  |  | 155,009 |  |  | 137,486 |  |  | — |  |  | — |  |  | 840,712 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 100,581 |  |  | 92,406 |  |  | 96,464 |  |  | 88,239 |  |  | 56,030 |  |  | — |  |  | — |  |  | 433,720 |
Amortization | 31,311 |  |  | 18,587 |  |  | 31,655 |  |  | 17,692 |  |  | 3,023 |  |  | 1,874 |  |  | 372 |  |  | 104,514 |
Exploration | 5,140 |  |  | 7,874 |  |  | 2,691 |  |  | 4,836 |  |  | 6,108 |  |  | 15,335 |  |  | 954 |  |  | 42,938 |
Other operating expenses(2) | 992 |  |  | 4,618 |  |  | 5,405 |  |  | 1,192 |  |  | 2,306 |  |  | 6,007 |  |  | 36,756 |  |  | 57,276 |
Costs and expenses | 138,024 |  |  | 123,485 |  |  | 136,215 |  |  | 111,959 |  |  | 67,467 |  |  | 23,216 |  |  | 38,082 |  |  | 638,448 |
Income (loss) from operations | 22,645 |  |  | 86,460 |  |  | 41,388 |  |  | 43,050 |  |  | 70,019 |  |  | (23,216) |  |  | (38,082) |  |  | 202,264 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value adjustments, net | — |  |  | — |  |  | (342) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (342) |
Interest expense, net | (1) |  |  | (69) |  |  | (4,873) |  |  | (257) |  |  | (117) |  |  | — |  |  | (13,384) |  |  | (18,701) |
Other, net(3) | 1,232 |  |  | (1,952) |  |  | (240) |  |  | (261) |  |  | (72) |  |  | 13 |  |  | 3,146 |  |  | 1,866 |
Income (loss) before income and mining taxes | 23,876 |  |  | 84,439 |  |  | 35,933 |  |  | 42,532 |  |  | 69,830 |  |  | (23,203) |  |  | (48,320) |  |  | 185,087 |
Income and mining tax (expense) benefit | (37,058) |  |  | (20,514) |  |  | (4,434) |  |  | (2,885) |  |  | (11,863) |  |  | — |  |  | (4,254) |  |  | (81,008) |
Net Income (loss) | $ | (13,182) |  |  | $ | 63,925 |  |  | $ | 31,499 |  |  | $ | 39,647 |  |  | $ | 57,967 |  |  | $ | (23,203) |  |  | $ | (52,574) |  |  | $ | 104,079 |
Segment assets(4) | $ | 1,725,990 |  |  | $ | 308,483 |  |  | $ | 1,253,548 |  |  | $ | 246,478 |  |  | $ | 124,995 |  |  | $ | 221,675 |  |  | $ | 58,061 |  |  | $ | 3,939,230 |
Capital expenditures | $ | 14,538 |  |  | $ | 11,500 |  |  | $ | 39,319 |  |  | $ | 31,791 |  |  | $ | 10,955 |  |  | $ | 2,382 |  |  | $ | 324 |  |  | $ | 110,809 |
(1) Excludes amortization. (2) Other operating expenses include General and administrative and Pre-development, reclamation, and other (3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail. (4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, mineral interests, and goodwill.
Six Months Ended June 30, 2024 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | Silvertip |  | Other |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |
Gold sales | $ | 96,313 |  |  | $ | 30,049 |  |  | $ | 94,589 |  |  | $ | 84,903 |  |  | $ | — |  |  | $ | — |  |  | $ | 305,854 |
Silver sales | 83,311 |  |  | 42,544 |  |  | (16) |  |  | 3,393 |  |  | — |  |  | — |  |  | 129,232 |
Metal sales | 179,624 |  |  | 72,593 |  |  | 94,573 |  |  | 88,296 |  |  | — |  |  | — |  |  | 435,086 |
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |
Costs applicable to sales(1) | 102,521 |  |  | 63,654 |  |  | 80,010 |  |  | 44,529 |  |  | — |  |  | — |  |  | 290,714 |
Amortization | 23,445 |  |  | 15,203 |  |  | 12,041 |  |  | 2,460 |  |  | 1,642 |  |  | 434 |  |  | 55,225 |
Exploration | 5,063 |  |  | 1,408 |  |  | 2,836 |  |  | 1,249 |  |  | 11,725 |  |  | 1,084 |  |  | 23,365 |
Other operating expenses(2) | 4,700 |  |  | 8,576 |  |  | 8,755 |  |  | 2,245 |  |  | 5,109 |  |  | 23,078 |  |  | 52,463 |
Costs and expenses | 135,729 |  |  | 88,841 |  |  | 103,642 |  |  | 50,483 |  |  | 18,476 |  |  | 24,596 |  |  | 421,767 |
Income (loss) from operations | 43,895 |  |  | (16,248) |  |  | (9,069) |  |  | 37,813 |  |  | (18,476) |  |  | (24,596) |  |  | 13,319 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 417 |  |  | 417 |
Fair value adjustments, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Interest expense, net | 371 |  |  | (2,395) |  |  | (970) |  |  | (277) |  |  | (10) |  |  | (22,828) |  |  | (26,109) |
Other, net(3) | 3,427 |  |  | (116) |  |  | (163) |  |  | (87) |  |  | (40) |  |  | 4,874 |  |  | 7,895 |
Income (loss) before income and mining taxes | 47,693 |  |  | (18,759) |  |  | (10,202) |  |  | 37,449 |  |  | (18,526) |  |  | (42,133) |  |  | (4,478) |
Income and mining tax (expense) benefit | (18,994) |  |  | 906 |  |  | — |  |  | (3,008) |  |  | — |  |  | (2,117) |  |  | (23,213) |
Net Income (loss) | $ | 28,699 |  |  | $ | (17,853) |  |  | $ | (10,202) |  |  | $ | 34,441 |  |  | $ | (18,526) |  |  | $ | (44,250) |  |  | $ | (27,691) |
Segment assets(4) | $ | 302,034 |  |  | $ | 1,125,586 |  |  | $ | 196,671 |  |  | $ | 108,268 |  |  | $ | 213,833 |  |  | $ | 51,885 |  |  | $ | 1,998,277 |
Capital expenditures | $ | 12,632 |  |  | $ | 48,773 |  |  | $ | 29,735 |  |  | $ | 1,464 |  |  | $ | 859 |  |  | $ | 25 |  |  | $ | 93,488 |
(1) Excludes amortization. (2) Other operating expenses includes General and administrative and Pre-development, reclamation, and other (3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail. (4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, mineral interests, and goodwill.
Consolidated Assets |
Assets | June 30, 2025 |  | December 31, 2024
Total assets for reportable segments | $ | 3,939,230 |  |  | $ | 2,161,881 |
Cash and cash equivalents | 111,646 |  |  | 55,087 |
Other assets | 100,074 |  |  | 84,779 |
Total consolidated assets | $ | 4,150,950 |  |  | $ | 2,301,747 |
Long Lived Assets by Country | Geographic Information
Long-Lived Assets | June 30, 2025 |  | December 31, 2024
United States | $ | 1,327,020 |  |  | $ | 1,312,976 |
Mexico | 1,842,870 |  |  | 267,144 |
Canada | 237,919 |  |  | 237,263 |
Other | 233 |  |  | 233 |
Total | $ | 3,408,042 |  |  | $ | 1,817,616 |
Revenue from External Customers by Geographic Areas |
Revenue | Three months ended June 30, |  | Six months ended June 30,
2025 |  | 2024 |  | 2025 |  | 2024 |  |
United States | $ | 263,861 |  |  | $ | 138,780 |  |  | $ | 470,098 |  |  | $ | 255,462 |  |  |
Mexico | 216,789 |  |  | 83,246 |  |  | 370,614 |  |  | 179,624 |  |  |
Total | $ | 480,650 |  |  | $ | 222,026 |  |  | $ | 840,712 |  |  | $ | 435,086 |  |  |

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