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OPERATING SEGMENTS
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
OPERATING SEGMENTS OPERATING SEGMENTS
The Company identifies its segments according to how the chief operating decision maker ("CODM") evaluates financial performance and allocates resources. The Company's CODM is the chief executive officer. The CODM assesses the segments' performance by using each segments' operating income and primarily relies on operating income for each segment during the annual budgeting and forecasting process. On a quarterly basis, the CODM reviews budget-to-actual variances for profit metrics to inform decisions on the allocation of operating and capital resources across segments.
Following the close of the CC&V acquisition, the Company revised its operating segments to reflect certain changes in how the CODM evaluates financial performance and allocates resources. The Company determined that it has five reportable and operating segments represented by each of its producing mine sites, which includes the suspended operations at Çöpler and now includes CC&V. For the periods prior to the first quarter of 2025, the Company had four reportable segments.
The following tables provide a summary of financial information related to the Company's segments (in thousands):
Three Months Ended June 30, 2025
Çöpler (1)
Marigold
CC&V
Seabee (2)
Puna
Segment Total
Corporate and other (3)
Consolidated
Revenue$— $118,786 $149,965 $34,540 $102,164 $405,455 $— $405,455 
Cost of sales (4)
$— $56,376 $50,003 $18,473 $38,096 $162,948 $— $162,948 
Depreciation, depletion, and amortization$— $8,228 $2,784 $6,921 $8,191 $26,124 $113 $26,237 
General and administrative expense$— $— $— $— $— $— $26,634 $26,634 
Exploration and evaluation$347 $1,824 $(195)$2,743 $805 $5,524 $1,279 $6,803 
Reclamation and remediation costs
$63,541 $806 $3,887 $336 $1,280 $69,850 $— $69,850 
Care and maintenance (5)
$36,714 $— $— $1,013 $— $37,727 $— $37,727 
Other operating expense (income), net
$(41,843)$313 $630 $98 $203 $(40,599)$6,970 $(33,629)
Operating income (loss)$(58,759)$51,239 $92,856 $4,956 $53,589 $143,881 $(34,996)$108,885 
Interest expense
$(1,642)$— $— $— $(877)$(2,519)$(1,708)$(4,227)
Interest income
$— $756 $— $303 $907 $1,966 $1,057 $3,023 
Other income (expense)
$202 $(246)$— $(7)$3,954 $3,903 $(719)$3,184 
Foreign exchange gain (loss)$402 $— $— $854 $(6,235)$(4,979)$(5,214)$(10,193)
Income (loss) before income and mining taxes$(59,797)$51,749 $92,856 $6,106 $51,338 $142,252 $(41,580)$100,672 
Capital expenditures$247 $18,841 $14,427 $8,762 $4,023 $46,300 $16,170 $62,470 
Total assets as of June 30, 2025
$2,642,739 $818,746 $534,551 $355,909 $363,386 $4,715,331 $1,080,546 $5,795,877 
(1)All operations at Çöpler ceased on February 13, 2024, following the Çöpler Incident and have not commenced as of June 30, 2025.
(2)During the second quarter of 2025, the Company suspended operations at Seabee for approximately two weeks due to power interruptions caused by forest fires to the north of the mine. Seabee resumed operations on June 13, 2025.
(3)Corporate and other consists of business activities that are not included within the reportable segments and is provided for reconciliation purposes. The exploration, evaluation and development properties and the portfolio of prospective exploration tenures, near or adjacent to the existing operations are included in the respective reportable segment. The greenfield standalone prospects and development projects are included in Corporate and other.
(4)Excludes depreciation, depletion, and amortization.
(5)Care and maintenance expense represents the direct costs not associated with the environmental reclamation and remediation costs of $21.8 million and depreciation of $14.9 million during the suspension of operations at Çöpler beginning in the first quarter of 2024; and direct costs of $0.2 million and depreciation of $0.8 million during the temporary suspension of operations at Seabee during the three months ended June 30, 2025.
Three Months Ended June 30, 2024
Çöpler
Marigold
Seabee 
Puna
Segment Total
Corporate and other (1)
Consolidated
Revenue$— $60,873 $35,386 $88,582 $184,841 $— $184,841 
Cost of sales (2)
$— $39,237 $17,275 $40,070 $96,582 $— $96,582 
Depreciation, depletion, and amortization$— $5,745 $9,477 $7,789 $23,011 $— $23,011 
General and administrative expense
$— $— $— $— $— $13,452 $13,452 
Exploration and evaluation
$298 $3,971 $5,190 $665 $10,124 $1,131 $11,255 
Reclamation and remediation costs
$493 $724 $334 $863 $2,414 $— $2,414 
Care and maintenance (3)
$30,556 $— $— $— $30,556 $— $30,556 
Other operating expense (income), net
$2,375 $451 $6 $705 $3,537 $(6,686)$(3,149)
Operating income (loss)$(33,722)$10,745 $3,104 $38,490 $18,617 $(7,897)$10,720 
Interest expense$(831)$— $— $— $(831)$(1,274)$(2,105)
Interest income$(1,005)$1,717 $1,397 $101 $2,210 $1,295 $3,505 
Other income (expense)$(808)$(19)$9 $2,326 $1,508 $(45)$1,463 
Foreign exchange gain (loss)$1,290 $(8)$182 $1,383 $2,847 $(1,971)$876 
Income (loss) before income and mining taxes$(35,076)$12,435 $4,692 $42,300 $24,351 $(9,892)$14,459 
Capital expenditures$3,586 $13,096 $7,119 $3,550 $27,351 $8,982 $36,333 
Total assets as of June 30, 2024
$2,736,138 $801,572 $411,838 $283,905 $4,233,453 $942,101 $5,175,554 
(1)Corporate and other consists of business activities that are not included within the reportable segments and is provided for reconciliation purposes.
(2)Excludes depreciation, depletion, and amortization.
(3)Care and maintenance expense represents direct costs not associated with the environmental reclamation and remediation costs of $17.3 million and depreciation of $13.3 million during the suspension of operations at Çöpler beginning in the first quarter of 2024.
Six Months Ended June 30, 2025
Çöpler (1)
Marigold
CC&V (2)
Seabee (3)
Puna
Segment Total
Corporate and other (4)
Consolidated
Revenue$— $235,966 $184,837 $110,842 $190,428 $722,073 $— $722,073 
Cost of sales (5)
$— $115,102 $67,968 $41,604 $74,915 $299,589 $— $299,589 
Depreciation, depletion, and amortization$— $16,941 $3,288 $20,425 $15,972 $56,626 $224 $56,850 
General and administrative expense$— $— $— $— $— $— $50,529 $50,529 
Exploration and evaluation$769 $2,515 $— $6,883 $1,177 $11,344 $2,324 $13,668 
Reclamation and remediation costs
$64,156 $1,610 $5,171 $672 $2,561 $74,170 $— $74,170 
Care and maintenance (6)
$72,509 $— $— $1,013 $— $73,522 $— $73,522 
Other operating expense (income), net$(39,265)$656 $634 $98 $439 $(37,438)$15,407 $(22,031)
Operating income (loss)$(98,169)$99,142 $107,776 $40,147 $95,364 $244,260 $(68,484)$175,776 
Interest expense$(3,219)$— $— $— $(982)$(4,201)$(3,395)$(7,596)
Interest income$— $2,356 $— $731 $1,253 $4,340 $1,680 $6,020 
Other income (expense) $246 $(459)$— $(15)$7,778 $7,550 $(1,040)$6,510 
Foreign exchange gain (loss)$302 $— $— $746 $(9,920)$(8,872)$(7,373)$(16,245)
Income (loss) before income and mining taxes$(100,840)$101,039 $107,776 $41,609 $93,493 $243,077 $(78,612)$164,465 
Capital expenditures$738 $34,091 $15,820 $20,564 $5,977 $77,190 $29,091 $106,281 
Total assets as of June 30, 2025
$2,642,739 $818,746 $534,551 $355,909 $363,386 $4,715,331 $1,080,546 $5,795,877 
(1)All operations at Çöpler ceased on February 13, 2024, following the Çöpler Incident and have not commenced as of June 30, 2025.
(2)The reported statements of operations amounts reflect results for CC&V from the date of acquisition on February 28, 2025 through June 30, 2025. See Note 3 for additional information.
(3)During the second quarter of 2025, the Company suspended operations at Seabee for approximately two weeks due to power interruptions caused by forest fires to the north of the mine. Seabee resumed operations on June 13, 2025.
(4)Corporate and other consists of business activities that are not included within the reportable segments and is provided for reconciliation purposes. The exploration, evaluation and development properties and the portfolio of prospective exploration tenures, near or adjacent to the existing operations are included in the respective reportable segment. The greenfield standalone prospects and development projects are included in Corporate and other.
(5)Excludes depreciation, depletion, and amortization.
(6)Care and maintenance expense represents the direct costs not associated with the environmental reclamation and remediation costs of $42.4 million and depreciation of $30.1 million during the suspension of operations at Çöpler beginning in the first quarter of 2024; and direct costs of $0.2 million and depreciation of $0.8 million during the temporary suspension of operations at Seabee during the three months ended June 30, 2025.
Six Months Ended June 30, 2024
Çöpler
Marigold
Seabee 
Puna
Segment Total
Corporate and other (1)
Consolidated
Revenue$48,571 $137,560 $94,513 $134,431 $415,075 $— $415,075 
Cost of sales (2)
$24,423 $88,308 $41,708 $68,044 $222,483 $— $222,483 
Depreciation, depletion, and amortization$9,831 $13,184 $24,690 $13,704 $61,409 $— $61,409 
General and administrative expense$— $— $— $— $— $26,313 $26,313 
Exploration and evaluation$1,072 $8,065 $8,736 $1,000 $18,873 $2,613 $21,486 
Reclamation and remediation costs$273,890 $1,448 $668 $1,726 $277,732 $— $277,732 
Impairment charges of long-lived and other assets
$114,230 $— $— $— $114,230 $— $114,230 
Care and maintenance (3)
$44,965 $— $— $— $44,965 $— $44,965 
Other operating expense (income), net$17,684 $458 $6 $704 $18,852 $(6,691)$12,161 
Operating income (loss)$(437,524)$26,096 $18,706 $49,253 $(343,469)$(22,235)$(365,704)
Interest expense$(3,361)$— $— $— $(3,361)$(3,399)$(6,760)
Interest income$15 $3,611 $3,058 $570 $7,254 $2,547 $9,801 
Other income (expense) $(205)$(499)$1 $(522)$(1,225)$159 $(1,066)
Foreign exchange gain (loss)$(1,083)$(8)$180 $4,141 $3,230 $(3,267)$(37)
Income (loss) before income and mining taxes$(442,158)$29,200 $21,945 $53,442 $(337,571)$(26,195)$(363,766)
Capital expenditures$10,127 $15,527 $22,892 $6,909 $55,455 $17,114 $72,569 
Total assets as of June 30, 2024
$2,736,138 $801,572 $411,838 $283,905 $4,233,453 $942,101 $5,175,554 
(1)Corporate and other consists of business activities that are not included within the reportable segments and provided for reconciliation purposes.
(2)Excludes depreciation, depletion, and amortization.
(3)Care and maintenance expense represents direct costs not associated with the environmental reclamation and remediation costs of $25.0 million and depreciation of $20.0 million during the suspension of operations at Çöpler beginning in the first quarter of 2024.