XML 80 R21.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Share capital | 12 Months Ended
--- | ---
Dec. 31, 2024
Disclosure of classes of share capital [abstract] |
Share capital | Share capital At December 31, 2024, the Company had unlimited authority to issue common shares, and 790.9 million common shares outstanding. (a) No par value common shares issued
| Number of shares | Value of shares
(in millions of U.S. dollars, except where noted) | (000s) | $
NO PAR VALUE COMMON SHARES ISSUED |  |
Balance at December 31, 2022 | 682,277 |  | 3,157.1 |
Issuance of common shares under First Nations agreements | 181 |  | 0.1 |
Issuance of flow through shares | 1,642 |  | 2.3 |
Exercise of options and vested performance share units | 2,906 |  | 4.0 |
Balance at December 31, 2023 | 687,006 |  | 3,163.5 |
Issuance of common shares(1) | 100,395 |  | 164.6 |
Issuance of common shares under First Nations agreements | 2,400 |  | 3.9 |
Exercise of options and vested performance share units | 1,129 |  | 2.5 |
Balance at December 31, 2024 | 790,930 |  | 3,334.5 |
1.In May 2024, the Company completed an equity issuance of 100,395,000 common shares at a price of $1.72 per common share for gross proceeds of $172.7 million. Transaction costs amounted to $8.1 million and have been netted against the gross proceeds of the equity issuance. (b) Share-based payment expenses The following table summarizes share-based payment expenses:
|  | Year ended December 31
(in millions of U.S. dollars) |  |  | 2024 | 2023
SHARE-BASED PAYMENT EXPENSES |  |  |  |
Stock option expense |  |  | 0.1 |  | 0.3 |
Performance share unit expense |  |  | 3.2 |  | 1.5 |
Restricted share unit expense |  |  | 12.3 |  | 5.0 |
Deferred share unit expense |  |  | 5.5 |  | 1.6 |
Shares issued under First Nations agreements |  |  | 0.2 |  | 0.1 |
Total share-based payment expenses |  |  | 21.3 |  | 8.5 |
Less: included within operating expenses |  |  | (7.6) |  | (3.1) |
Share-based payment expenses |  |  | 13.7 |  | 5.4 |
(i) Stock options The following table presents changes in the Company’s stock option plan:
| Number of options | Weighted average exercise price
| (000s) | C$/share
CHANGES TO THE COMPANY'S STOCK OPTION PLAN |  |
Balance at December 31, 2022 | 4,851 |  | 1.59 |
Exercised | (2,401) |  | 1.20 |
Forfeited | (158) |  | 2.02 |
Expired | (562) |  | 2.09 |
Balance at December 31, 2023 | 1,730 |  | 1.93 |
Exercised | (936) |  | 1.85 |
Forfeited | (307) |  | 2.03 |
Expired | (30) |  | 1.81 |
Balance at December 31, 2024 | 457 |  | 2.04 |
Earnings (loss) per share The following table sets out the calculation of earnings (loss) per share:
|  | Year ended December 31
(in millions of U.S. dollars, except where noted) |  |  | 2024 | 2023
CALCULATION OF EARNINGS (LOSS) PER SHARE |  |  |  |
Net earnings (loss) |  |  | 102.6 |  | (64.5) |
Basic weighted average number of shares outstanding (in millions) |  |  | 752.2 |  | 684.0 |
Dilution of securities: |  |  |  |
Stock options, deferred share units, performance share units |  |  | 6.2 |  | — |
Diluted weighted average number of shares outstanding (in millions) |  |  | 758.4 |  | 684.0 |
Net earnings (loss) per share: |  |  |  |
Basic |  |  | 0.14 |  | (0.09) |
Diluted |  |  | 0.14 |  | (0.09) |
The following table lists the equity securities excluded from the calculation of diluted earnings (loss) per share. All stock options are excluded from the calculation when the Company is in a net loss position.
|  | Year ended December 31
(in millions of units) |  |  | 2024 | 2023
EQUITY SECURITIES EXCLUDED FROM THE CALCULATION OF DILUTED EARNINGS (LOSS) PER SHARE |  |  |  |
Stock options, performance share units, deferred share units |  |  | — |  | 5.1 |

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfClassesOfShareCapitalAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of classes of share capital. [Refer: Classes of share capital [domain]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 79 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_79_a&doctype=Standard -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration