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Loans and borrowings - Loan covenants (Details) $ in Thousands | 6 Months Ended
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Jun. 30, 2023 USD ($)
Mezzanine Debt Facility |
Loans and borrowings |
Minimum Available Cash and Cash Equivalent Investments required to be held | $ 30,000
Minimum required Reserve Tail Ratio projection (as a percent) | 25.00%
Mezzanine Debt Facility | If no amounts are outstanding under the Copper Stream |
Loans and borrowings |
Maximum required Total Net Debt to EBITDA ratio during the first calendar year | 3.25
Maximum required Total Net Debt to EBITDA ratio, thereafter | 3.00
Mezzanine Debt Facility | If any amounts are outstanding under the Copper Stream |
Loans and borrowings |
Maximum required Total Net Debt to EBITDA ratio during the first calendar year | 3.50
Maximum required Total Net Debt to EBITDA ratio, thereafter | 3.25
Senior Syndicated Facility Agreement |
Loans and borrowings |
Minimum Available Cash and Cash Equivalent Investments required to be held | $ 30
Minimum required Reserve Tail Ratio projection (as a percent) | 25.00%
Minimum required Debt Service Coverage Ratio, in respect of any rolling period of 12 consecutive months ending on 31 March, 30 June, 30 September, and 31 December | 1.2
Cash flow forecast period | 5 years
Minimum required Forecast Cash Flow Coverage Ratio | 1.25
Maximum required Net Debt to EBITDA | 2.5
Senior Syndicated Facility Agreement | If no amounts are outstanding under the Copper Stream |
Loans and borrowings |
Maximum required Total Net Debt to EBITDA ratio during the first calendar year | 3.25
Maximum required Total Net Debt to EBITDA ratio, thereafter | 3.00
Senior Syndicated Facility Agreement | If any amounts are outstanding under the Copper Stream |
Loans and borrowings |
Maximum required Total Net Debt to EBITDA ratio during the first calendar year | 3.50
Maximum required Total Net Debt to EBITDA ratio, thereafter | 3.25
Copper Purchase Agreement |
Loans and borrowings |
Minimum Available Cash and Cash Equivalent Investments required to be held | $ 30,000
Maximum required Total Net Debt to EBITDA ratio, thereafter | 3.25
Minimum required Reserve Tail Ratio projection (as a percent) | 25.00%
Threshold amount of Uncredited Deposit after reduction, considered for maintenance of Reserve Tail Ratio | $ 0
Maximum required Total Net Debt to EBITDA ratio during the period from the Closing Date of the Copper Stream to the first anniversary date | 3.5
Silver Purchase Agreement |
Loans and borrowings |
Minimum Available Cash and Cash Equivalent Investments required to be held | $ 30,000
Minimum required Reserve Tail Ratio projection (as a percent) | 25.00%
Threshold amount of Uncredited Deposit after reduction, considered for maintenance of Reserve Tail Ratio | $ 0
Silver Purchase Agreement | If no amounts are outstanding under the Copper Stream |
Loans and borrowings |
Maximum required Total Net Debt to EBITDA ratio during the first calendar year | 3.25
Maximum required Total Net Debt to EBITDA ratio, thereafter | 3.00
Silver Purchase Agreement | If any amounts are outstanding under the Copper Stream |
Loans and borrowings |
Maximum required Total Net Debt to EBITDA ratio during the first calendar year | 3.50
Maximum required Total Net Debt to EBITDA ratio, thereafter | 3.25

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- Definition Maximum Total Net Debt to EBITDA ratio required to be maintained by the company during the first calendar year, under the borrowings arrangement. + References No definition available. + Details
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- Definition Maximum Total Net Debt to EBITDA ratio required to be maintained by the company during the period from the Closing Date of the borrowings arrangement to the first anniversary date. + References No definition available. + Details
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- Definition Maximum Total Net Debt to EBITDA ratio required to be maintained by the company during the period after the first calendar year, under the borrowings arrangement. + References No definition available. + Details
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- Definition Minimum amount of available cash and cash equivalent investments to be held by the company at all times, as required by the borrowings arrangement. + References No definition available. + Details
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- Definition Minimum Debt Service Cover Ratio required to be maintained by the company under the borrowings arrangement. + References No definition available. + Details
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- Definition Minimum Forecast Cash Flow Coverage ratio required to be maintained by the company, as required by the borrowings arrangement. + References No definition available. + Details
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- Definition Minimum percentage of Reserve Tail ratio projection to be maintained by the company, as required by the borrowings arrangement. + References No definition available. + Details
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- Definition Threshold amount of uncredited deposit after reduction under the borrowings, considered for maintenance of Reserve Tail Ratio. + References No definition available. + Details
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