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PLANT EQUIPMENT AND MINING PROPERTIES

9 Months Ended

Sep. 30, 2025

PLANT EQUIPMENT AND MINING PROPERTIES

9. PLANT, EQUIPMENT AND MINING PROPERTIES

	Mining properties			Office equipment, furniture, and fixtures			Computer equipment			Mine machinery and transportation equipment			Mill machinery and processing equipment			Buildings and construction in process			Total
	$			$			$			$			$			$			$
COST
Balance at January 1, 2024		18,375			844			1,929			17,573			26,232			15,370			80,323
Additions / Transfers		870			395			18			417			2,994			445			5,139
Writedowns		-			(36	)		(183	)		(1,679	)		(983	)		(822	)		(3,703	)
Effect of movements in exchange rates		(15	)		(12	)		(1	)		20			(21	)		(11	)		(40	)
Balance at December 31, 2024		19,230			1,191			1,763			16,331			28,222			14,982			81,719
Additions / Transfers		3,060			33			114			6,438			2,574			554			12,773
Transfer from exploration and evaluation assets (Note 7)		35,005			-			-			-			-			-			35,005
Royalty buyback		21,423			-			-			-			-			-			21,423
Writedowns		-			(12	)		(5	)		(797	)		(426	)		-			(1,240	)
Effect of movements in exchange rates		7			-			-			1			-			38			46
Balance at September 30, 2025		78,725			1,212			1,872			21,973			30,370			15,574			149,726
ACCUMULATED DEPLETION AND DEPRECIATION / IMPAIRMENT
Balance at January 1, 2024		9,473			548			781			5,235			7,894			3,323			27,254
Additions		426			130			401			1,534			549			339			3,379
Writedowns		-			(35	)		(182	)		(1,472	)		(594	)		(432	)		(2,715	)
Balance at December 31, 2024		9,899			643			1,000			5,297			7,849			3,230			27,918
Additions		364			109			308			577			1,018			237			2,613
Writedowns		-			(11	)		(3	)		(734	)		(79	)		-			(827	)
Balance at September 30, 2025		10,263			741			1,305			5,140			8,788			3,467			29,704
NET BOOK VALUE
At September 30, 2025		68,462			471			567			16,833			21,582			12,107			120,022
At December 31, 2024		9,331			548			763			11,034			20,373			11,752			53,801

Included in Buildings and construction in process above are assets under construction of $4,098 as at September 30, 2025 (December 31, 2024 - $3,443) on which no depreciation was charged in the periods then ended. Once the assets are available for use, they will be transferred to the appropriate class of plant, equipment and mining properties.

As of September 30, 2025, the Company recorded a write-down of $413 (December 31, 2024 - $988) against the carrying value of mine and mill machinery and transportation equipment due to damage and obsolescence.

As at September 30, 2025, plant, equipment and mining properties included a net carrying amount of $7,949 (December 31, 2024 - $5,162) for mining equipment and right of use assets under lease.

On August 25, 2025, the Company acquired all outstanding royalties and obligations held by Deterra Royalties Inc., on the La Preciosa property. Consideration for the transaction was $13.25 million upfront payment, followed by an $8.75 million payment deferred for one year. The consideration has been assigned at fair value as of the transaction date and recorded as an addition to mineral properties. The present value of the deferred obligation payment was calculated using a discount interest rate of 7.47%.