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REVENUE | 9 Months Ended
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Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE The following table represents revenues by product (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Gold doré sales |  |  |  |  |  |  |  |  |  |  |
Çöpler | $ | — |  |  | $ | 11,804 |  |  | $ | — |  |  | $ | 60,031 |
Marigold |  | 130,650 |  |  |  | 119,888 |  |  |  | 366,544 |  |  |  | 257,381 |
CC&V |  | 97,896 |  |  |  | — |  |  |  | 282,020 |  |  |  | — |
Seabee |  | 31,528 |  |  |  | 27,886 |  |  |  | 142,331 |  |  |  | 122,360 |
Concentrate sales |  |  |  |  |  |  |  |  |  |  |
Puna |  | 121,882 |  |  |  | 94,563 |  |  |  | 308,726 |  |  |  | 225,781 |
Other (1) |  |  |  |  |  |  |  |  |  |  |
Çöpler |  | — |  |  |  | — |  |  |  | — |  |  |  | 345 |
Marigold |  | 44 |  |  |  | 20 |  |  |  | 116 |  |  |  | 84 |
CC&V |  | 352 |  |  |  | — |  |  |  | 1,066 |  |  |  | — |
Seabee |  | 15 |  |  |  | 11 |  |  |  | 55 |  |  |  | 51 |
Puna |  | 3,472 |  |  |  | 3,184 |  |  |  | 7,054 |  |  |  | 6,398 |
Total | $ | 385,839 |  |  | $ | 257,356 |  |  | $ | 1,107,912 |  |  | $ | 672,431 |
(1)Other revenue includes changes in the fair value of concentrate trade receivables due to changes in silver and base metal prices; and silver and copper by-product revenue arising from the production and sale of gold doré. Revenue by metal Revenue by metal type are as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Gold | $ | 260,074 |  |  | $ | 159,578 |  |  | $ | 790,895 |  |  | $ | 439,772 |
Silver |  | 107,962 |  |  |  | 80,845 |  |  |  | 270,447 |  |  |  | 189,455 |
Lead |  | 12,638 |  |  |  | 12,964 |  |  |  | 35,119 |  |  |  | 33,333 |
Zinc |  | 1,282 |  |  |  | 754 |  |  |  | 3,160 |  |  |  | 2,993 |
Other (1) |  | 3,883 |  |  |  | 3,215 |  |  |  | 8,291 |  |  |  | 6,878 |
Total | $ | 385,839 |  |  | $ | 257,356 |  |  | $ | 1,107,912 |  |  | $ | 672,431 |
(1)Other revenue includes changes in the fair value of concentrate trade receivables due to fluctuations in silver and base metal prices; and silver and copper by-product revenue arising from the production and sale of gold doré. Provisional metal sales At September 30, 2025, the Company had silver sales of 5.3 million ounces at an average price of $38.28 per ounce, lead sales of 25.2 million pounds at an average price of $0.89 per pound, and zinc sales of 1.9 million pounds at an average price of $1.23 per pound, subject to normal course final pricing over the next several months. For the three months ended September 30, 2025 and 2024, the change in the fair value of the Company’s embedded derivatives relating to provisional concentrate metal sales was an increase of $3.5 million and $3.2 million, respectively. For the nine months ended September 30, 2025 and 2024, the change in the fair value of the Company’s embedded derivatives relating to provisional concentrate metal sales was an increase of $7.1 million and $6.4 million, respectively. The changes in fair value have been recorded in Revenue.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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