v3.25.4

Financial risk management (Tables)

9 Months Ended

Sep. 30, 2025

Financial risk management

Schedule of contractual maturities of financial liabilities

		September 30, 2025
						Less than												Over 5
		Total				1 year				2-3 years				4-5 years				years
Trade and other payables		$	30,718			$	30,718			$	-			$	-			$	-
Pre-payment facility			2,550				2,550				-				-				-
Credit facility			9,400				7,200				2,200				-				-
Interest on credit facility			578				553				25				-				-
Term loan facility			53,191				1,596				15,691				35,904				-
Interest and fees on term loan facility			20,037				5,527				9,780				4,730				-
Royalty payable			3,062				3,062				-				-				-
Metals contract liability			44,618				20,024				24,594				-				-
Silver contract liability			28,566				6,368				19,815				2,383				-
Price protection program premium			3,411				383				3,028				-				-
Projected pension contributions			7,530				1,596				2,652				2,906				376
Decommissioning provision			19,950				-				-				-				19,950
Other long-term liabilities			2,180				-				1,368				182				630
		$	225,791			$	79,577			$	79,153			$	46,105			$	20,956

Schedule of total lease liabilities discounted using an incremental borrowing rate

		September 30, 2025
						Less than												Over 5
		Total				1 year				2-3 years				4-5 years				years
Trade and other payables		$	1,493			$	1,493			$	-			$	-			$	-
Other long-term liabilities			1,550				-				1,368				182				-
		$	3,043			$	1,493			$	1,368			$	182			$	-

Schedule of net loss or other comprehensive loss due to currency fluctuations

		Nine-month				Year
		period ended				ended
		September 30,				December 31,
		2025				2024
Lease liabilities, beginning of period		$	1,655			$	1,436
Additions			2,081				823
Lease principal payments			(668	)			(608	)
Lease interest payments			(143	)			(71	)
Accretion on lease liabilities			118				75
Lease liabilities, end of period		$	3,043			$	1,655

Schedule of net loss and comprehensive loss due to changes in the exchange rates

		As at September 30, 2025
		CAD				MXN
Cash and cash equivalents		$	1,030			$	668
Trade and other receivables			517				3,254
Trade and other payables			4,078				11,018

Schedule of net loss and comprehensive loss due to changes in the exchange rates

		CAD/USD				MXN/USD
		Exchange rate				Exchange rate
		+/- 10%				+/- 10%
Approximate impact on:
Net loss		$	2,182			$	3,378
Other comprehensive loss			196				3

Schedule of fair value hierarchy

		September 30,				December 31,
		2025				2024
Level 1
Cash and cash equivalents		$	39,100			$	20,002
Restricted cash			4,672				4,527
Level 2
Trade and other receivables			10,598				7,132
Derivative instruments - assets			2,861				-
Derivative instruments - liabilities			-				709
Metals contract liability			44,618				40,868
Silver contract liability			28,566				18,193
Level 3
Royalty payable			3,062				2,762
Amortized cost
Pre-payment facility			2,550				2,000
Credit facility			9,160				9,490
Term loan facility			48,019				-
Convertible debenture			-				10,849

X

- Definition

The disclosure of market risk. [Refer: Market risk [member]]

+ References

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- Definition

The disclosure of a maturity analysis for non-derivative financial liabilities (including issued financial guarantee contracts) that shows the remaining contractual maturities. [Refer: Derivative financial liabilities]

+ References

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+ References

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