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PLANT EQUIPMENT AND MINING PROPERTIES

12 Months Ended

Dec. 31, 2025

PLANT EQUIPMENT AND MINING PROPERTIES

10) 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		4,436			55			200			8,973			4,425			842			18,931
Transfer from exploration and evaluation assets (Note 8)		35,005			-			-			-			-			-			35,005
Royalty buyback		21,787			-			-			-			-			-			21,787
Writedowns		-			(12	)		(7	)		(1,716	)		(343	)		-			(2,078	)
Effect of movements in exchange rates		12			-			-			3			-			27			42
Balance at December 31, 2025		80,470			1,234			1,956			23,591			32,304			15,851			155,406
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		503			148			410			1,523			774			329			3,687
Writedowns		-			(11	)		(5	)		(1,455	)		(93	)		-			(1,564	)
Balance at December 31, 2025		10,402			780			1,405			5,365			8,530			3,559			30,041
NET BOOK VALUE
At December 31, 2025		70,068			454			551			18,226			23,774			12,292			125,365
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 $5,019 as at December 31, 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 December 31, 2025, the Company recorded a write-down of $514 (December 31, 2024 - $988) against the carrying value of mine and mill machinery and transportation equipment due to damage and obsolescence.

As at December 31, 2025, plant, equipment and mining properties included a net carrying amount of $9,162 (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 measured 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%.