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Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Operating activities    
Net earnings for the year $ 97,361 $ 73,685
Items not affecting cash:    
Depreciation and amortization 248,790 155,331
Finance costs 50,943 45,266
Interest income (2,056) (2,760)
Unrealized foreign exchange gain (2,999) (790)
Income from royalty sale 0 (8,075)
Income tax expense 79,134 39,771
Net loss (gain) on disposal of assets 2,587 (656)
Reversal of impairment 0 (96,914)
Write-down of assets 38,660 6,298
Share based payments expense 10,692 10,396
Employment benefit plan expense 2,849 2,717
Total adjustments to reconcile profit (loss) 525,961 224,269
Property reclamation payments (2,301) (2,807)
Employee benefit plan payments (2,633) (2,587)
Income taxes paid (87,872) (36,242)
Interest paid (44,373) (35,479)
Interest received 2,056 2,760
Changes in non-cash operating working capital 34,769 15,912
Cash flows used in operating activities 425,607 165,826
Investing activities    
Purchase of property, plant and equipment (190,908) (214,505)
Capitalized interest paid 0 (3,848)
Proceeds from the sale of property, plant and equipment 1,790 6,605
Proceeds on pre-commercial production sales, net 0 12,159
Purchase of investment in associate 0 (3,107)
Proceeds from sale of mining interest 9,896 1,397
Value added taxes related to mineral property expenditures, net (15,468) (1,590)
Proceeds from the sale of marketable securities 5,237 0
Decrease (increase) in term deposits (55,759) 3,371
Decrease in restricted cash 983 10,644
Net cash used in investing activities (244,229) (188,874)
Financing activities    
Issuance of common shares for cash, net of issuance costs 95,992 40,066
Acquisition of non-controlling interest, without change in control (7,500) 0
Contributions from non-controlling interests 421 2,791
Proceeds from borrowings 150,000 494,000
Repayment of borrowings (132,714) (600,000)
Loan financing costs 0 (15,583)
Principal portion of lease liabilities (9,807) (6,729)
Purchase of treasury stock (3,550) 0
Net cash generated from (used in) financing activities 92,842 (85,455)
Net increase (decrease) in cash and cash equivalents 274,220 (108,503)
Cash and cash equivalents - beginning of year 177,742 286,312
Cash in disposal group held for sale 0 (67)
Cash and cash equivalents - end of year $ 451,962 $ 177,742