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SHARE CAPITAL AND SHARE-BASED PAYMENTS (Tables)
 12 Months Ended
Dec. 31, 2020
Share-Based Payment Arrangements [Abstract]  
Disclosure of number and weighted average exercise prices of share options
The changes in issued stock options during the years ended December 31, 2020 and 2019 are as follows:
2020 2019
  Number of stock options Weighted average exercise price (C$/option) Number of stock options Weighted average exercise price (C$/option)
Outstanding, beginning of year 1,802,623  12.14  2,638,749  10.35 
Granted 445,690  26.12  514,355  16.81 
Exercised (820,929) 10.86  (1,093,844) (8.78)
Expired (2,622) 14.95  (193,167) (18.90)
Forfeited (19,326) 23.53  (63,470) (12.81)
Outstanding, end of year 1,405,436  17.16  1,802,623  12.14 
Disclosure of indirect measurement of fair value of goods or services received, share options granted during period
The weighted average fair value of stock options granted during the years ended December 31, 2020 and 2019 were estimated to be C$8.32 and C$6.22 per stock option, respectively, at the grant date using the Black-Scholes option pricing model, based on the following assumptions:

Years ended December 31 2020 2019
Estimated forfeiture rate (%) 3.0  3.0 
Expected dividend yield (%) —  — 
Risk-free interest rate (%) 1.31  1.78 
Expected life (years) 4.2 4.2
Expected volatility (%) 45.8  45.8 
Weighted average share price (C$) 26.12  16.81 
Disclosure of range of exercise prices of outstanding share options
The following table summarizes information about stock options outstanding and exercisable at December 31, 2020:
  Stock options outstanding Stock options exercisable
Exercise prices (C$) Number of stock options outstanding Weighted average remaining contractual life (years) Number of stock options exercisable Weighted average exercise price
(C$/option)
5.83 - 11.16
 415,887  2.5 364,219  9.27 
11.17 - 17.06
 447,821  4.6 365,793  15.57 
17.07 - 27.04
 431,218  5.8 286,708  23.92 
27.05 - 29.09
 110,510  6.4 16,980  29.09 
  1,405,436  4.5 1,033,700  15.89 
Disclosure of number and weighted average exercise prices of other equity instruments
The following table summarizes the changes in DSUs outstanding during the years ended December 31, 2020 and 2019:
2020 2019
Years ended December 31 Number of DSUs Number of DSUs
Outstanding, beginning of year 613,617  533,698 
Granted 63,089  79,919 
Issued in connection with Alacer acquisition 234,440  — 
Redeemed (163,161) — 
Outstanding, end of year 747,985  613,617 
The following table summarizes the changes in RSUs outstanding during the years ended December 31, 2020 and 2019:
2020 2019
 Years ended December 31
 Number of RSUs Number of RSUs
Outstanding, beginning of year 356,160  425,095 
Granted 145,987  195,530 
Issued in connection with Alacer acquisition 998,901  — 
Settled (719,345) (200,671)
Forfeited (32,838) (63,794)
Outstanding, end of year 748,865  356,160 
The associated compensation cost is recorded in share-based compensation expenses.
2020 2019
Years ended December 31 Number of PSUs Number of PSUs
Outstanding, beginning of year 308,500  311,100 
Granted 222,045  144,500 
Issued in connection with Alacer acquisition 985,489  — 
Settled (402,198) (122,300)
Forfeited —  (24,800)
Outstanding, end of year 1,113,836  308,500 
Explanation of effect of share-based payments on entity's profit or loss
Total share-based compensation expense, including all equity and cash-settled arrangements, for the years ended December 31, 2020 and 2019 has been recognized in the consolidated financial statements as follows:
Years ended December 31 2020 2019
Equity-settled
Production costs $ 449  $ 250 
Share-based compensation expense 6,903  3,715 
Exploration, evaluation and reclamation expense 43  40 
Transaction and integration expense 1,099  — 
Cash-settled
Production costs 1,715  1,201 
Share-based compensation expense 1,597  9,099 
Exploration, evaluation and reclamation expense 126  119 
Transaction and integration expense 3,919  — 
$ 15,851  $ 14,424