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Financial instruments | 6 Months Ended
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Jun. 30, 2024
Financial instruments |
Financial instruments | 14. Financial instruments The Company’s financial instruments include cash and cash equivalents, amounts receivable (excluding value added taxes and prepaid expenses), investments and loans receivable, amounts payable and other liabilities, lease obligations and debt. The Company applies all of the requirements of IFRS 9 to its financial instruments. The approach in IFRS 9 is based on how an entity manages its financial instruments and the contractual cash flow characteristics of the financial asset. IFRS 9 introduced a single expected credit loss impairment model, which is based on changes in debt or credit quality since initial recognition. IFRS 9 applies an expected credit loss model to evaluate financial assets for impairment. The Company’s financial assets that are subject to credit risk include cash and cash equivalents, amounts receivable (excluding value added taxes and prepaid expenses) and loans receivable. The amounts receivable (excluding value added taxes and prepaid expenses) are carried at amortized cost and had a carrying value of $17.0 million as at June 30, 2024 (December 31, 2023: $12.3 million) and loans receivable had a carrying value of $1.7 million (December 31, 2023: $28.0 million). The expected credit loss for the loans receivable is measured based on the general approach. The expected credit losses were estimated as the difference between the contractual cash flows that are due to Triple Flag and the cash flows that management expects to receive, discounted at the original effective interest rate. Cash flows that management expects to receive are based on the expected ability of the counterparties to repay the amounts owed, which is dependent on a variety of factors including, among others, production results, operating costs, commodity prices and capital requirements. Triple Flag considered both quantitative and qualitative factors as part of this assessment. For the three months ended June 30, 2024, the application of the expected credit loss model did not have a significant impact, because the Company determined that the expected credit losses on the loan receivable was nominal. The Company applies the simplified approach permitted by IFRS 9 for amounts receivable, which requires lifetime expected credit losses to be recognized from initial recognition of the receivables. Considering the current turnover and credit risk associated with the amounts receivable (excluding value added taxes and prepaid expenses), the application of the expected credit loss model did not have a significant impact, because the Company determined that the expected credit losses on these financial assets were nominal. To provide an indication of the reliability of the inputs used in determining fair value, the Company classifies its financial instruments into the three levels prescribed under the accounting standards. The fair value hierarchy establishes three levels to classify the inputs to valuation techniques used to measure fair value. Refer to Note 7 for additional details on the fair value hierarchy classification of investments that are measured at fair value. The carrying value of amounts receivable (excluding value added taxes and prepaid expenses), cash and cash equivalents, investments and prepaid gold interests, loans receivable, amounts payable and other liabilities, and debt approximates their fair value. Financial assets and financial liabilities as at June 30, 2024, and December 31, 2023, were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Financial assets | ​ | Financial liabilities
As at June 30, 2024 |  | FVTPL |  | at amortized cost |  | at amortized cost
Cash and cash equivalents | ​ | $ | — | ​ | $ | 21,063 | ​ | $ | —
Amounts receivable (excluding value added taxes and prepaid expenses) | ​ |  | — | ​ |  | 16,954 | ​ |  | —
Prepaid gold interests and investments | ​ | ​ | 49,089 | ​ | ​ | — | ​ | ​ | —
Loans receivable | ​ |  | — | ​ |  | 1,708 | ​ |  | —
Amounts payable and other liabilities | ​ |  | — | ​ |  | — | ​ |  | 6,457
Debt | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 20,000
Total | ​ | $ | 49,089 | ​ | $ | 39,725 | ​ | $ | 26,457
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Financial assets | ​ | Financial liabilities
As at December 31, 2023 |  | FVTPL |  | at amortized cost |  | at amortized cost
Cash and cash equivalents | ​ | $ | — | ​ | $ | 17,379 | ​ | $ | —
Amounts receivable (excluding value added taxes and prepaid expenses) | ​ |  | — | ​ |  | 12,307 | ​ |  | —
Prepaid gold interests and investments | ​ | ​ | 46,496 | ​ | ​ | — | ​ | ​ | —
Loans receivable | ​ |  | — | ​ |  | 27,976 | ​ |  | —
Amounts payable and other liabilities | ​ |  | — | ​ |  | — | ​ |  | 15,666
Debt | ​ | ​ | — | ​ |  | — | ​ |  | 57,000
Total | ​ | $ | 46,496 | ​ | $ | 57,662 | ​ | $ | 72,666
​ ​

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- Definition The entire disclosure for financial instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Section Scope -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS07_g3-5A_TI -URIDate 2023-03-23 + Details
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