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v3.23.4

Loans and borrowings (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Loans and borrowings |
Summary of carrying amounts of the Group's loans and borrowings | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 30 June |  | 31 December |  | 1 January
US$ thousand | ​ | 2023 | ​ | 2022 | ​ | 2022
Current |  |  |  |  |  |
Senior syndicated facility agreement |  | 29,590 |  | — |  | —
Copper purchase agreement |  | 493 |  | — |  | —
Silver purchase agreement |  | 12,462 |  | — |  | —
Promissory note – related party |  | — |  | 786 |  | —
​ |  | 42,545 |  | 786 |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Non-current |  |  |  |  |  |
Mezzanine debt facility |  | 75,663 |  | — |  | —
Senior syndicated facility agreement |  | 165,531 |  | — |  | —
Copper purchase agreement |  | 79,366 |  | — |  | —
Silver purchase agreement |  | 62,802 |  | — |  | —
​ |  | 383,362 |  | — |  | —
​ |  | 425,907 |  | 786 |  | —
Summary of variation in the copper price used to determine the margin rate as well as the composition of interest payments | ​
​ | ​ | ​ | ​ | ​
LME Copper Price |  | Margin |  | Payment
<$3.40/LB |  | 12.00 | % | 100% capitalised / 0% cash
>$3.40/lb to $3.85/lb |  | 10.00 | % | 60% capitalised / 40% cash
>$3.85/lb |  | 8.00 | % | 0% capitalised / 100% cash
Summary of Copper Stream Percentage under the Copper Purchase Agreement | ​
​ | ​ | ​ | ​
Time Period |  | Copper Stream Percentage |
Closing to 1st Anniversary of the Closing Date |  | 0 | %
1st Anniversary of the Closing Date to 5th Anniversary |  | 3% (the “First Stream Percentage”) | ​
5th Anniversary until 33,000 metric tonnes of refined copper delivered to Osisko (the “Threshold Quantity”) |  | 4.875% (the “Second-Threshold Stream Percentage”) | ​
Thereafter from the date that the Threshold Quantity has been met |  | 2.25% (the “Tail Stream Percentage”) | ​
Summary of Buy-Down Options under the Copper Purchase Agreement | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Buy-Down Option 1 | ​ |  | Buy-Down Option 2 |
Buy-Down Amount | ​ | $ | 40 million | ​ | $ | 20 million | ​
Second-Threshold Stream Percentage | ​ |  | 3.25 | % |  | 4.0625 | %
Tail Stream Percentage | ​ |  | 1.50 | % |  | 1.875 | %
Threshold Quantity | ​ |  | 23,900 tonnes | ​ |  | 28,450 tonnes | ​

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