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OPERATING SEGMENTS (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following tables provide a summary of financial information related to the Company’s segments (in thousands):
| Three Months Ended September 30, 2025
| Çöpler (1) |  | Marigold |  | CC&V |  | Seabee |  | Puna |  | Segment Total |  |  | Corporate and other (2) |  | Consolidated
Revenue | $ | — |  |  | $ | 130,694 |  |  | $ | 98,248 |  |  | $ | 31,543 |  |  | $ | 125,354 |  |  | $ | 385,839 |  |  | $ | — |  |  | $ | 385,839 |
Cost of sales (3) | $ | — |  |  | $ | 62,436 |  |  | $ | 38,961 |  |  | $ | 19,661 |  |  | $ | 44,624 |  |  | $ | 165,682 |  |  | $ | — |  |  | $ | 165,682 |
Depreciation, depletion, and amortization | $ | — |  |  | $ | 9,060 |  |  | $ | 3,525 |  |  | $ | 6,826 |  |  | $ | 8,695 |  |  | $ | 28,106 |  |  | $ | 112 |  |  | $ | 28,218 |
General and administrative expense | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 40,228 |  |  | $ | 40,228 |
Exploration and evaluation | $ | 248 |  |  | $ | 371 |  |  | $ | 363 |  |  | $ | 3,582 |  |  | $ | 3,373 |  |  | $ | 7,937 |  |  | $ | 2,439 |  |  | $ | 10,376 |
Reclamation and remediation costs | $ | 799 |  |  | $ | 806 |  |  | $ | 3,914 |  |  | $ | 336 |  |  | $ | 1,280 |  |  | $ | 7,135 |  |  | $ | — |  |  | $ | 7,135 |
Care and maintenance (4) | $ | 37,291 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 37,291 |  |  | $ | — |  |  | $ | 37,291 |
Other operating expense (income), net | $ | 2,793 |  |  | $ | 726 |  |  | $ | 520 |  |  | $ | 54 |  |  | $ | 267 |  |  | $ | 4,360 |  |  | $ | 9,216 |  |  | $ | 13,576 |
Operating income (loss) | $ | (41,131) |  |  | $ | 57,295 |  |  | $ | 50,965 |  |  | $ | 1,084 |  |  | $ | 67,115 |  |  | $ | 135,328 |  |  | $ | (51,995) |  |  | $ | 83,333 |
Interest expense | $ | (1,684) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (190) |  |  | $ | (1,874) |  |  | $ | (1,710) |  |  | $ | (3,584) |
Interest income | $ | — |  |  | $ | 812 |  |  | $ | 17 |  |  | $ | 278 |  |  | $ | 254 |  |  | $ | 1,361 |  |  | $ | 1,819 |  |  | $ | 3,180 |
Other income (expense) | $ | (487) |  |  | $ | (170) |  |  | $ | (4) |  |  | $ | (1) |  |  | $ | 4,614 |  |  | $ | 3,952 |  |  | $ | (1,863) |  |  | $ | 2,089 |
Foreign exchange gain (loss) | $ | 730 |  |  | $ | — |  |  | $ | — |  |  | $ | (716) |  |  | $ | (10,044) |  |  | $ | (10,030) |  |  | $ | (2,807) |  |  | $ | (12,837) |
Income (loss) before income and mining taxes | $ | (42,572) |  |  | $ | 57,937 |  |  | $ | 50,978 |  |  | $ | 645 |  |  | $ | 61,749 |  |  | $ | 128,737 |  |  | $ | (56,556) |  |  | $ | 72,181 |
Capital expenditures | $ | 2,103 |  |  | $ | 13,383 |  |  | $ | 15,206 |  |  | $ | 6,842 |  |  | $ | 3,101 |  |  | $ | 40,635 |  |  | $ | 17,112 |  |  | $ | 57,747 |
Total assets as of September 30, 2025 | $ | 2,627,824 |  |  | $ | 852,622 |  |  | $ | 589,480 |  |  | $ | 358,179 |  |  | $ | 377,553 |  |  | $ | 4,805,658 |  |  | $ | 1,102,155 |  |  | $ | 5,907,813 |
(1)All operations at Çöpler ceased on February 13, 2024, following the Çöpler Incident and have not commenced as of September 30, 2025. (2)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. (3)Excludes depreciation, depletion, and amortization. (4)Care and maintenance expense represents $22.4 million of direct costs, excluding costs associated with environmental reclamation and remediation, and $14.9 million of depreciation incurred during the suspension of operations at Çöpler beginning in the first quarter of 2024.
| Three Months Ended September 30, 2024
| Çöpler (1) |  | Marigold |  | Seabee |  | Puna |  | Segment Total |  | Corporate and other (2) |  | Consolidated
Revenue | $ | 11,804 |  |  | $ | 119,908 |  |  | $ | 27,897 |  |  | $ | 97,747 |  |  | $ | 257,356 |  |  | $ | — |  |  | $ | 257,356 |
Cost of sales (3) | $ | 5,047 |  |  | $ | 74,106 |  |  | $ | 14,404 |  |  | $ | 44,724 |  |  | $ | 138,281 |  |  | $ | — |  |  | $ | 138,281 |
Depreciation, depletion, and amortization | $ | 2,706 |  |  | $ | 10,637 |  |  | $ | 7,659 |  |  | $ | 9,441 |  |  | $ | 30,443 |  |  | $ | — |  |  | $ | 30,443 |
General and administrative expense | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 19,016 |  |  | $ | 19,016 |
Exploration and evaluation | $ | 52 |  |  | $ | 2,252 |  |  | $ | 4,132 |  |  | $ | 2,945 |  |  | $ | 9,381 |  |  | $ | 1,983 |  |  | $ | 11,364 |
Reclamation and remediation costs | $ | 493 |  |  | $ | 724 |  |  | $ | 333 |  |  | $ | 864 |  |  | $ | 2,414 |  |  | $ | — |  |  | $ | 2,414 |
Impairment charges of long-lived and other assets | $ | — |  |  | $ | — |  |  | $ | 369 |  |  | $ | — |  |  | $ | 369 |  |  | $ | — |  |  | $ | 369 |
Care and maintenance (4) | $ | 29,763 |  |  | $ | — |  |  | $ | 9,611 |  |  | $ | — |  |  | $ | 39,374 |  |  | $ | — |  |  | $ | 39,374 |
Other operating expense (income), net | $ | 6,464 |  |  | $ | 451 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 6,916 |  |  | $ | 142 |  |  | $ | 7,058 |
Operating income (loss) | $ | (32,721) |  |  | $ | 31,738 |  |  | $ | (8,611) |  |  | $ | 39,772 |  |  | $ | 30,178 |  |  | $ | (21,141) |  |  | $ | 9,037 |
Interest expense | $ | (1,845) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,845) |  |  | $ | (1,097) |  |  | $ | (2,942) |
Interest income | $ | — |  |  | $ | 1,477 |  |  | $ | 1,150 |  |  | $ | 88 |  |  | $ | 2,715 |  |  | $ | 1,166 |  |  | $ | 3,881 |
Other income (expense) | $ | 186 |  |  | $ | (207) |  |  | $ | (28) |  |  | $ | 2,434 |  |  | $ | 2,385 |  |  | $ | 2,309 |  |  | $ | 4,694 |
Foreign exchange gain (loss) | $ | (2,351) |  |  | $ | — |  |  | $ | (132) |  |  | $ | (2,519) |  |  | $ | (5,002) |  |  | $ | (2,519) |  |  | $ | (7,521) |
Income (loss) before income and mining taxes | $ | (36,731) |  |  | $ | 33,008 |  |  | $ | (7,621) |  |  | $ | 39,775 |  |  | $ | 28,431 |  |  | $ | (21,282) |  |  | $ | 7,149 |
Capital expenditures | $ | 1,468 |  |  | $ | 11,057 |  |  | $ | 3,317 |  |  | $ | 4,928 |  |  | $ | 20,770 |  |  | $ | 10,940 |  |  | $ | 31,710 |
Total assets as of September 30, 2024 | $ | 2,724,079 |  |  | $ | 813,622 |  |  | $ | 368,662 |  |  | $ | 295,788 |  |  | $ | 4,202,151 |  |  | $ | 941,768 |  |  | $ | 5,143,919 |
(1)During the three months ended September 30, 2024, Çöpler produced and sold inventory that was in-circuit prior to the Çöpler Incident. (2)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. (3)Excludes depreciation, depletion, and amortization. (4)Care and maintenance expense represents $16.5 million of direct, excluding costs associated with environmental reclamation and remediation, and $13.3 million of depreciation incurred during the suspension of operations at Çöpler beginning in the first quarter of 2024; and $7.7 million of direct costs and $1.9 million of depreciation incurred during the suspension of operations at Seabee during the third quarter of 2024.
| Nine Months Ended September 30, 2025
| Çöpler (1) |  | Marigold |  | CC&V (2) |  | Seabee (3) |  | Puna |  | Segment Total |  |  | Corporate and other (4) |  | Consolidated
Revenue | $ | — |  |  | $ | 366,660 |  |  | $ | 283,086 |  |  | $ | 142,386 |  |  | $ | 315,780 |  |  | $ | 1,107,912 |  |  | $ | — |  |  | $ | 1,107,912 |
Cost of sales (5) | $ | — |  |  | $ | 177,538 |  |  | $ | 106,929 |  |  | $ | 61,265 |  |  | $ | 119,539 |  |  | $ | 465,271 |  |  | $ | — |  |  | $ | 465,271 |
Depreciation, depletion, and amortization | $ | — |  |  | $ | 26,001 |  |  | $ | 6,813 |  |  | $ | 27,252 |  |  | $ | 24,666 |  |  | $ | 84,732 |  |  | $ | 336 |  |  | $ | 85,068 |
General and administrative expense | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 90,757 |  |  | $ | 90,757 |
Exploration and evaluation | $ | 1,017 |  |  | $ | 2,886 |  |  | $ | 363 |  |  | $ | 10,465 |  |  | $ | 4,550 |  |  | $ | 19,281 |  |  | $ | 4,763 |  |  | $ | 24,044 |
Reclamation and remediation costs | $ | 64,956 |  |  | $ | 2,417 |  |  | $ | 9,085 |  |  | $ | 1,007 |  |  | $ | 3,840 |  |  | $ | 81,305 |  |  | $ | — |  |  | $ | 81,305 |
Impairment charges of long-lived and other assets | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Care and maintenance (6) | $ | 109,800 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,013 |  |  | $ | — |  |  | $ | 110,813 |  |  | $ | — |  |  | $ | 110,813 |
Other operating expense (income), net | $ | (36,471) |  |  | $ | 1,383 |  |  | $ | 1,154 |  |  | $ | 152 |  |  | $ | 706 |  |  | $ | (33,076) |  |  | $ | 24,621 |  |  | $ | (8,455) |
Operating income (loss) | $ | (139,302) |  |  | $ | 156,435 |  |  | $ | 158,742 |  |  | $ | 41,232 |  |  | $ | 162,479 |  |  | $ | 379,586 |  |  | $ | (120,477) |  |  | $ | 259,109 |
Interest expense | $ | (4,903) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,172) |  |  | $ | (6,075) |  |  | $ | (5,105) |  |  | $ | (11,180) |
Interest income | $ | — |  |  | $ | 3,168 |  |  | $ | 17 |  |  | $ | 1,009 |  |  | $ | 1,506 |  |  | $ | 5,700 |  |  | $ | 3,500 |  |  | $ | 9,200 |
Other income (expense) | $ | (241) |  |  | $ | (629) |  |  | $ | (5) |  |  | $ | (15) |  |  | $ | 12,392 |  |  | $ | 11,502 |  |  | $ | (2,903) |  |  | $ | 8,599 |
Foreign exchange gain (loss) | $ | 1,032 |  |  | $ | — |  |  | $ | — |  |  | $ | 31 |  |  | $ | (19,964) |  |  | $ | (18,901) |  |  | $ | (10,181) |  |  | $ | (29,082) |
Income (loss) before income and mining taxes | $ | (143,414) |  |  | $ | 158,974 |  |  | $ | 158,754 |  |  | $ | 42,257 |  |  | $ | 155,241 |  |  | $ | 371,812 |  |  | $ | (135,166) |  |  | $ | 236,646 |
Capital expenditures | $ | 2,841 |  |  | $ | 47,474 |  |  | $ | 31,026 |  |  | $ | 27,407 |  |  | $ | 9,078 |  |  | $ | 117,826 |  |  | $ | 44,420 |  |  | $ | 162,246 |
Total assets as of September 30, 2025 | $ | 2,627,824 |  |  | $ | 852,622 |  |  | $ | 589,480 |  |  | $ | 358,179 |  |  | $ | 377,553 |  |  | $ | 4,805,658 |  |  | $ | 1,102,155 |  |  | $ | 5,907,813 |
(1)All operations at Çöpler ceased on February 13, 2024, following the Çöpler Incident and have not commenced as of September 30, 2025. (2)The reported statements of operations amounts reflect results for CC&V from the date of acquisition on February 28, 2025 through September 30, 2025. See Note 3 for additional information. (3)During the nine months ended September 30, 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 $64.7 million of direct costs, excluding costs associated with environmental reclamation and remediation, and $45.1 million of depreciation incurred during the suspension of operations at Çöpler beginning in the first quarter of 2024; and $0.2 million of direct costs and $0.8 million of depreciation incurred during the approximate two week suspension of operations at Seabee during the second quarter of 2025.
| Nine Months Ended September 30, 2024
| Çöpler |  | Marigold |  | Seabee |  | Puna |  | Segment Total |  | Corporate and other (1) |  | Consolidated
Revenue | $ | 60,376 |  |  | $ | 257,465 |  |  | $ | 122,411 |  |  | $ | 232,179 |  |  | $ | 672,431 |  |  | $ | — |  |  | $ | 672,431 |
Cost of sales (2) | $ | 29,471 |  |  | $ | 162,414 |  |  | $ | 56,111 |  |  | $ | 112,768 |  |  | $ | 360,764 |  |  | $ | — |  |  | $ | 360,764 |
Depreciation, depletion, and amortization | $ | 12,537 |  |  | $ | 23,821 |  |  | $ | 32,349 |  |  | $ | 23,145 |  |  | $ | 91,852 |  |  | $ | — |  |  | $ | 91,852 |
General and administrative expense | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 45,329 |  |  | $ | 45,329 |
Exploration and evaluation | $ | 1,124 |  |  | $ | 10,318 |  |  | $ | 12,868 |  |  | $ | 3,945 |  |  | $ | 28,255 |  |  | $ | 4,595 |  |  | $ | 32,850 |
Reclamation and remediation costs | $ | 274,384 |  |  | $ | 2,171 |  |  | $ | 1,001 |  |  | $ | 2,590 |  |  | $ | 280,146 |  |  | $ | — |  |  | $ | 280,146 |
Impairment charges of long-lived and other assets | $ | 114,230 |  |  | $ | — |  |  | $ | 369 |  |  | $ | — |  |  | $ | 114,599 |  |  | $ | — |  |  | $ | 114,599 |
Care and maintenance (3) | $ | 74,728 |  |  | $ | — |  |  | $ | 9,611 |  |  | $ | — |  |  | $ | 84,339 |  |  | $ | — |  |  | $ | 84,339 |
Other operating expense (income), net | $ | 24,147 |  |  | $ | 904 |  |  | $ | 7 |  |  | $ | 706 |  |  | $ | 25,764 |  |  | $ | (6,545) |  |  | $ | 19,219 |
Operating income (loss) | $ | (470,245) |  |  | $ | 57,837 |  |  | $ | 10,095 |  |  | $ | 89,025 |  |  | $ | (313,288) |  |  | $ | (43,379) |  |  | $ | (356,667) |
Interest expense | $ | (5,205) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (5,205) |  |  | $ | (4,497) |  |  | $ | (9,702) |
Interest income | $ | 16 |  |  | $ | 5,087 |  |  | $ | 4,208 |  |  | $ | 658 |  |  | $ | 9,969 |  |  | $ | 3,713 |  |  | $ | 13,682 |
Other income (expense) | $ | (20) |  |  | $ | (706) |  |  | $ | (27) |  |  | $ | 1,912 |  |  | $ | 1,159 |  |  | $ | 2,469 |  |  | $ | 3,628 |
Foreign exchange gain (loss) | $ | (3,433) |  |  | $ | (8) |  |  | $ | 48 |  |  | $ | 1,622 |  |  | $ | (1,771) |  |  | $ | (5,787) |  |  | $ | (7,558) |
Income (loss) before income and mining taxes | $ | (478,887) |  |  | $ | 62,210 |  |  | $ | 14,324 |  |  | $ | 93,217 |  |  | $ | (309,136) |  |  | $ | (47,481) |  |  | $ | (356,617) |
Capital expenditures | $ | 11,596 |  |  | $ | 26,584 |  |  | $ | 26,209 |  |  | $ | 11,837 |  |  | $ | 76,226 |  |  | $ | 28,054 |  |  | $ | 104,280 |
Total assets as of September 30, 2024 | $ | 2,724,079 |  |  | $ | 813,622 |  |  | $ | 368,662 |  |  | $ | 295,788 |  |  | $ | 4,202,151 |  |  | $ | 941,768 |  |  | $ | 5,143,919 |
(1)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. (2)Excludes depreciation, depletion, and amortization. (3)Care and maintenance expense represents $41.5 million of direct costs, excluding costs associated with the environmental reclamation and remediation costs and $33.2 million of depreciation incurred during the suspension of operations at Çöpler beginning in the first quarter of 2024; and $7.7 million of direct costs and $1.9 million of depreciation incurred during the suspension of operations at Seabee during the third quarter of 2024.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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