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OPERATING SEGMENTS (Tables)

9 Months Ended

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.

X

- 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

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- References

No definition available.

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