Commitments and contractual obligations

12 Months Ended

Dec. 31, 2024

Disclosure of contingent liabilities [abstract]

25. Commitments and contractual obligations

The Company’s commitments and contractual obligations at December 31, 2024 include:


	2025		2026		2027		2028		2029 and later		Total

Debt - Senior Notes (1)	$	—	$	—	$	—	$	—	$	500,000	$	500,000
Debt - Term Facility (1)	—		82,183		70,687		70,687		246,690		470,247
Purchase obligations	960		1,225		227		1		—		2,413
Leases	5,585		4,905		3,382		1,511		6,503		21,886
Asset retirement obligations	5,071		4,612		5,107		1,900		235,927		252,617
	$	11,616	$	92,925	$	79,403	$	74,099	$	989,120	$	1,247,163

(1)Does not include interest on debt.

Debt obligations represent required repayments of principal for the Senior Notes and the Term Facility.

Purchase obligations relate primarily to operating costs at Olympias.

As at December 31, 2024, Hellas Gold had entered into off-take agreements pursuant to which Hellas agreed to sell a total of 48,000 dry metric tonnes of zinc concentrate, 24,000 dry metric tonnes of lead/silver concentrate, and 380,000 dry metric tonnes of gold concentrate. As at December 31, 2024, Tüprag had entered into off-take agreements pursuant to which Tüprag agreed to sell a total of 59,400 dry metric tonnes of gold concentrate.

Based on current Turkish legislation, the Company pays annual royalties to the Government of Turkiye on revenue less certain costs associated with ore haulage, mineral processing and related depreciation. Royalties are calculated on the basis of a sliding scale according to the average London Metal Exchange gold price during the calendar year. Based on current Greek legislation, the Company pays royalties on revenue that are calculated on a sliding scale tied to international gold and base metal prices and the EUR:USD exchange rate.