XML 96 R70.htm IDEA: XBRL DOCUMENT
v3.19.1

Management of Financial Risk (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Disclosure of nature and extent of risks arising from financial instruments [line items] |
Schedule of Company's Maximum Exposure to Credit Risk | Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. All of our trade accounts receivables from concentrate sales are held with large international metals trading companies. The Company’s cash and cash equivalents and short term investments are held through large financial institutions. These investments mature at various dates within one year. The Company’s maximum exposure to credit risk as at December 31, 2018 and 2017 is as follows:
|  | December 31, |  | December 31,
|  | 2018 |  | 2017
Cash and cash equivalents |  | $ | 90,503 |  | $ | 183,074
Short term investments |  |  | 72,824 |  |  | 29,500
Marketable securities |  |  | - |  |  | 556
Derivative assets |  |  | 2,646 |  |  | 140
Accounts receivable and other assets |  |  | 32,769 |  |  | 36,370
Income tax receivable |  |  | 136 |  |  | 130
Other non-current receivables |  |  | 15,241 |  |  | 1,223
|  | $ | 214,119 |  | $ | 250,993
Schedule of Company's Liquidity Risk | Liquidity risk is the risk that we will not be able to meet our financial obligations as they come due. We manage our liquidity risk by continually monitoring forecasted and actual cash flows. We have in place a planning and budgeting process to help determine the funds required to support our normal operating requirements and our development plans. We aim to maintain sufficient liquidity to meet our short term business requirements, taking into account our anticipated cash flows from operations, our holdings of cash and cash equivalents, and our committed and anticipated liabilities. The following are the remaining contractual maturities of financial liabilities at the reporting date. The tables include cash flows associated with both interest and principal payments.
|  | Expected payments due by year as at December 31, 2018
|  | Less than |  |  |  |  |  | After |  |
|  | 1 year |  | 1 - 3 years |  | 4 - 5 years |  | 5 years |  | Total
Trade and other payables |  | $ | 48,510 |  | $ | - |  | $ | - |  | $ | - |  | $ | 48,510
Credit facility |  |  | - |  |  | - |  |  | 70,000 |  |  | - |  |  | 70,000
Derivative liabilities |  |  | 224 |  |  | - |  |  | - |  |  | - |  |  | 224
Income tax payable |  |  | 8,358 |  |  | - |  |  | - |  |  | - |  |  | 8,358
Equipment loan |  |  | 4,328 |  |  | 5,371 |  |  | - |  |  | - |  |  | 9,699
Other liabilities |  |  | - |  |  | 1,166 |  |  | - |  |  | - |  |  | 1,166
Operating leases |  |  | 1,055 |  |  | 1,248 |  |  | 250 |  |  | - |  |  | 2,553
Capital commitments, Lindero |  |  | 111,940 |  |  | - |  |  | - |  |  | - |  |  | 111,940
Provisions |  |  | 878 |  |  | 6,738 |  |  | 4,029 |  |  | 6,262 |  |  | 17,907
|  | $ | 175,293 |  | $ | 14,523 |  | $ | 74,279 |  | $ | 6,262 |  | $ | 270,357
|  | Expected payments due by year as at December 31, 2017
|  | Less than |  |  |  |  |  |  |  | After |  |  |
|  | 1 year |  | 1 - 3 years |  | 4 - 5 years |  | 5 years |  | Total
Trade and other payables |  | $ | 41,476 |  | $ | - |  | $ | - |  | $ | - |  | $ | 41,476
Bank loan |  |  | - |  |  | 40,000 |  |  | - |  |  | - |  |  | 40,000
Derivative liabilities |  |  | 2,328 |  |  | - |  |  | - |  |  | - |  |  | 2,328
Income tax payable |  |  | 14,237 |  |  | - |  |  | - |  |  | - |  |  | 14,237
Finance lease obligations |  |  | 906 |  |  | - |  |  | - |  |  | - |  |  | 906
Other liabilities |  |  | - |  |  | 1,356 |  |  | - |  |  | - |  |  | 1,356
Operating leases |  |  | 653 |  |  | 1,025 |  |  | 634 |  |  | - |  |  | 2,312
Provisions |  |  | 1,708 |  |  | 4,690 |  |  | 5,465 |  |  | 3,323 |  |  | 15,186
|  | $ | 61,308 |  | $ | 47,071 |  | $ | 6,099 |  | $ | 3,323 |  | $ | 117,801
Schedule of capital structure |
|  | December 31, |  | December 31,
|  |  | 2018 |  |  | 2017
Equity |  | $ | 602,804 |  | $ | 563,584
Credit facilities |  |  | 69,302 |  |  | 39,871
Equipment financing obligations |  |  | 8,766 |  |  | 906
Less: Cash, cash equivalents and short-term investments |  |  | (163,327) |  |  | (212,574)
|  | $ | 517,545 |  | $ | 391,787
Currency risk [member] |
Disclosure of nature and extent of risks arising from financial instruments [line items] |
Disclosure of Nature and Extent of Risks Arising from Financial Instruments | The functional and reporting currency for all entities within the consolidated group is the US dollar. We are exposed to fluctuations in foreign exchange rates as a portion of our expenses are incurred in Canadian dollars, Peruvian soles, Argentinean pesos and Mexican pesos. A significant change in the foreign exchange rates between the United States dollar relative to the other currencies could have a material effect on the Company’s profit or loss, financial position, or cash flows. We have not hedged our exposure to foreign currency fluctuations. As at December 31, 2018 and 2017, the Company was exposed to currency risk through the following assets and liabilities denominated in foreign currencies:
|  | December 31, 2018
|  | Canadian Dollars |  | Peruvian Soles |  | Mexican Pesos |  | Argentinian Pesos
Cash and cash equivalents |  | 376 |  | 941 |  | 37,039 |  | 6,967
Accounts receivable and other assets |  | 279 |  | 3,660 |  | 11,836 |  | 598,002
Income tax receivable |  | - |  | 459 |  | - |  | -
Investments in associates |  | 5,244 |  | - |  | - |  | -
Trade and other payables |  | (8,478) |  | (18,492) |  | (218,833) |  | (125,159)
Due to related parties |  | (23) |  | - |  | - |  | -
Provisions, current |  | - |  | - |  | (2,991) |  | -
Income tax payable |  | - |  | (4,591) |  | (59,810) |  | -
Other liabilities |  | - |  | - |  | (2,296) |  | -
Provisions |  | - |  | - |  | (66,977) |  | -
Total foreign currency exposure |  | (2,602) |  | (18,023) |  | (302,032) |  | 479,810
US$ equivalent of foreign currency exposure |  | (2,010) |  | (5,458) |  | (16,055) |  | 11,646
|  | December 31, 2017
|  | Canadian Dollars |  | Peruvian Soles |  | Mexican Pesos |  | Argentinian Pesos
Cash and cash equivalents |  | 4,511 |  | 693 |  | 27,842 |  | 12,186
Marketable securities |  | 697 |  | - |  | - |  | -
Accounts receivable and other assets |  | 292 |  | 4,428 |  | 3,018 |  | 33
Income tax receivable |  | - |  | 421 |  | - |  | -
Investments in associates |  | 3,685 |  | - |  | - |  | -
Trade and other payables |  | (14,950) |  | (17,244) |  | (253,702) |  | (7,814)
Provisions, current |  | - |  | - |  | (2,418) |  | -
Income tax payable |  | - |  | (6,631) |  | (176,977) |  | -
Other liabilities |  | (1,576) |  | - |  | (1,967) |  | -
Provisions |  | - |  | - |  | (78,567) |  | -
Total foreign currency exposure |  | (7,341) |  | (18,333) |  | (482,771) |  | 4,405
US$ equivalent of foreign currency exposure |  | (5,852) |  | (5,650) |  | (24,462) |  | 236
Sensitivity as to change in foreign currency exchange rates on our foreign currency exposure as at December 31, 2018 is provided below:
|  |  |  | Effect on foreign
|  |  |  | denominated
Currency |  | Change |  | items
Mexican Peso |  | +/- 10% |  | $ | 1,874
Peruvian Soles |  | +/- 10% |  | $ | 506
Argentinian Peso |  | +/- 10% |  | $ | 878
Canadian Dollar |  | +/- 10% |  | $ | 351
Commodity price risk [member] |
Disclosure of nature and extent of risks arising from financial instruments [line items] |
Disclosure of Nature and Extent of Risks Arising from Financial Instruments |
Metal |  | Change |  | Effect on Sales
Silver |  | +/- 10% |  | $ | 2,201
Gold |  | +/- 10% |  | $ | 1,332
Lead |  | +/- 10% |  | $ | 196
Zinc |  | +/- 10% |  | $ | 365

X
- Definition The disclosure of capital structure. + References No definition available. + Details
Name: | fsm_DisclosureOfCapitalStructureTextBlock
Namespace Prefix: | fsm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of how the entity manages its liquidity risk. [Refer: Liquidity risk [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2017-01-01 -Paragraph 39 -Subparagraph c -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=7&date=2017-03-01&anchor=para_39_c&doctype=Standard -URIDate 2017-03-09 + Details
Name: | ifrs-full_DescriptionOfManagingLiquidityRisk
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of credit risk. [Refer: Credit risk [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2017-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_10_e&doctype=Standard -URIDate 2017-03-09 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Note Effective 2018-01-01 -Name IFRS -Number 7 -IssueDate 2017-01-01 -Section Credit risk -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=7&date=2017-03-01&anchor=F36665437&doctype=Standard -URIDate 2017-03-09 + Details
Name: | ifrs-full_DisclosureOfCreditRiskExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of information that enables users of financial statements to evaluate the nature and extent of risks arising from financial instruments to which the entity is exposed. [Refer: Financial instruments, class [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2017-01-01 -Paragraph 31 -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=7&date=2017-03-01&anchor=para_31&doctype=Standard -URIDate 2017-03-09 + Details
Name: | ifrs-full_DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. + References No definition available. + Details
Name: | ifrs-full_DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsLineItems
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | ifrs-full_TypesOfRisksAxis=ifrs-full_CommodityPriceRiskMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |