Triple Flag Precious Metals (TFPM) 6-K 7 Aug 24 2024 Q2 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2024
Document and Entity Information
Document Type	6-K
Document Period End Date	Jun. 30, 2024
Entity Registrant Name	Triple Flag Precious Metals Corp
Entity Central Index Key	0001829726
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Interim Consolidated

Condensed Interim Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 21,063	$ 17,379
Amounts receivable and prepaid expenses	17,317	13,725
Prepaid gold interests	12,839	7,699
Investments	2,965	6,248
Inventory	2,067	1,392
Income tax receivable	2,105	1,605
Loans receivable	0	8,990
Current assets	58,356	57,038
Mineral interests	1,634,047	1,773,053
Prepaid gold interests	33,285	32,549
Deferred income tax	10,472	9,343
Loans receivable	1,708	18,986
Other assets	2,979	3,495
Non-current assets	1,682,491	1,837,426
TOTAL ASSETS	1,740,847	1,894,464
Liabilities
Amounts payable and other liabilities	6,457	15,666
Income tax payable	3,213	1,259
Lease obligation	393	390
Current liabilities	10,063	17,315
Debt	20,000	57,000
Lease obligation	1,527	1,756
Deferred income tax	1,171	3,638
Other non-current liabilities	7,210	4,014
Non-current liabilities	29,908	66,408
Shareholders' equity
Share capital	1,750,370	1,749,180
(Deficit) retained earnings	(65,278)	46,831
Other	15,784	14,730
Shareholders' equity	1,700,876	1,810,741
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,740,847	$ 1,894,464

Condensed Interim Consolidate_2

Condensed Interim Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Financial Statement
Revenue	$ 63,581	$ 52,591	$ 121,109	$ 102,860
Cost of sales
Cost of sales excluding depletion	(7,521)	(9,904)	(14,070)	(21,372)
Depletion	(17,156)	(15,740)	(34,876)	(31,668)
Gross profit	38,904	26,947	72,163	49,820
General administration costs	(6,507)	(5,184)	(11,985)	(10,856)
Business development costs	(1,354)	(782)	(2,188)	(2,355)
Impairment charges and expected credit losses	(141,771)	0	(148,034)	0
Operating (loss) income	(110,728)	20,981	(90,044)	36,609
Loss on disposition of mineral interests	0	(1,000)	0	(1,000)
Increase in fair value of prepaid gold interest	3,408	423	5,512	2,768
Decrease in fair value of investments	(1,339)	(1,377)	(1,766)	(69)
Finance costs, net	(1,379)	(1,269)	(2,673)	(2,578)
Other expenses	(994)	0	(1,766)	0
Sustainability initiatives	(200)	(104)	(393)	(222)
Foreign currency translation gain	55	6	95	52
Other income (expenses)	(449)	(3,321)	(991)	(1,049)
(Loss) earnings before income taxes	(111,177)	17,660	(91,035)	35,560
Income tax expense	(260)	(1,626)	(2,978)	(2,992)
Net (loss) earnings	$ (111,437)	$ 16,034	$ (94,013)	$ 32,568
(Loss) earnings per share - Basic (in dollars per share)	$ (0.55)	$ 0.08	$ (0.47)	$ 0.17
(Loss) earnings per share - Diluted (in dollars per share)	$ (0.55)	$ 0.08	$ (0.47)	$ 0.17

Condensed Interim Consolidate_3

Condensed Interim Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating activities
Net (loss) earnings	$ (111,437)	$ 16,034	$ (94,013)	$ 32,568
Adjustments for the following items:
Depletion	17,156	15,740	34,876	31,668
Non-cash cost of sales related to prepaid gold interests	2,463	4,921	4,636	10,481
Amortization	85	93	175	184
Impairments charges and expected credit losses	141,771	0	148,034	0
Loss on disposition of mineral interests	0	1,000	0	1,000
Increase in fair value of prepaid gold interests	(3,408)	(423)	(5,512)	(2,768)
Decrease in fair value of investments	1,339	1,377	1,766	69
Stock-based compensation expense	368	941	1,054	1,788
Income tax expense	260	1,626	2,978	2,992
Finance and other costs, net	1,326	1,923	2,583	3,839
Operating cash flow before working capital and taxes	49,923	43,232	96,577	81,821
Income taxes paid	(2,992)	(1,857)	(4,877)	(3,083)
Change in working capital	2,426	(500)	(3,468)	1,006
Operating cash flow	49,357	40,875	88,232	79,744
Investing activities
Acquisition of mineral interests	(2,228)	(17,593)	(3,664)	(163,597)
Proceeds on disposition of mineral interests	366	1,700	366	1,700
Proceeds on sale of investments	2,847	0	2,847	0
Acquisition of loans	(7,754)	(8,833)	(14,639)	(17,333)
Acquisition of prepaid gold interests and investments	0	0	(6,330)	(741)
Net cash used in investing activities	(6,769)	(24,726)	(21,420)	(179,971)
Financing activities
Proceeds from issuance of debt	0	5,000	10,000	115,000
Repayments of debt	(40,000)	(20,000)	(47,000)	(50,000)
Proceeds from exercise of stock options	1,014	16,398	1,384	17,203
Normal course issuer bid ("NCIB") purchase of common shares	0	(10,505)	(3,582)	(13,075)
Dividends paid	(10,569)	(10,100)	(21,125)	(20,142)
Repayments and interest on lease obligation	(147)	(139)	(228)	(223)
Payments of interest and other financing costs	(1,186)	(2,096)	(2,599)	(3,217)
Net cash (used in) from financing activities	(50,888)	(21,442)	(63,150)	45,546
Effect of exchange rate changes on cash and cash equivalents	2	19	22	21
(Decrease)/increase in cash and cash equivalents during the quarter	(8,298)	(5,274)	3,684	(54,660)
Cash and cash equivalents at beginning of the quarter	29,361	21,712	17,379	71,098
Cash and cash equivalents at end of the quarter	$ 21,063	$ 16,438	$ 21,063	$ 16,438

Condensed Interim Consolidate_4

Condensed Interim Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Share Capital	Retained Earnings	Other	Total
Balance at beginning at Dec. 31, 2022	$ 1,250,194	$ 63,670	$ 4,615	$ 1,318,479
Balance at beginning (in shares) at Dec. 31, 2022	155,685,593
Shares issued to Maverix shareholders	$ 491,111			491,111
Shares issued to Maverix shareholders (in shares)	45,097,390
Issuance of shares from exercise of stock options	$ 493			493
Issuance of shares from exercise of stock options (in shares)	256,799
NCIB purchase of common shares and automatic share purchase plan ("ASPP")	$ (7,312)	(5,763)	(1,300)	(14,375)
NCIB purchase of common shares and automatic share purchase plan ("ASPP") (in shares)	(911,646)
Stock-based compensation granted to Maverix employees			6,709	6,709
Stock-based compensation expense			1,788	1,788
Net earnings (loss)		32,568		32,568
Dividends		(20,142)		(20,142)
Warrants issued to Maverix shareholders			7,938	7,938
Issuance of shares from exercise of warrants	$ 24,336		(7,938)	16,398
Issuance of shares from exercise of warrants (In shares)	1,800,000
Balance at ending at Jun. 30, 2023	$ 1,758,822	70,333	11,812	1,840,967
Balance at ending (in shares) at Jun. 30, 2023	201,928,136
Balance at beginning at Dec. 31, 2022	$ 1,250,194	63,670	4,615	1,318,479
Balance at beginning (in shares) at Dec. 31, 2022	155,685,593
Issuance of shares from exercise of stock options	$ 442
Issuance of shares from exercise of stock options (in shares)	256,799
NCIB purchase of common shares and automatic share purchase plan ("ASPP")	$ (16,903)
NCIB purchase of common shares and automatic share purchase plan ("ASPP") (in shares)	(1,485,820)
Issuance of shares from exercise of warrants	$ 24,336
Issuance of shares from exercise of warrants (In shares)	1,800,000
Balance at ending at Dec. 31, 2023	$ 1,749,180	46,831	14,730	1,810,741
Balance at ending (in shares) at Dec. 31, 2023	201,353,962
Issuance of shares from exercise of stock options	$ (199)			(199)
Issuance of shares from exercise of stock options (in shares)	410,845
NCIB purchase of common shares and automatic share purchase plan ("ASPP")	$ 1,389	3,029		4,418
NCIB purchase of common shares and automatic share purchase plan ("ASPP") (in shares)	(283,100)
Stock-based compensation expense			1,054	1,054
Net earnings (loss)		(94,013)		(94,013)
Dividends		(21,125)		(21,125)
Balance at ending at Jun. 30, 2024	$ 1,750,370	$ (65,278)	$ 15,784	$ 1,700,876
Balance at ending (in shares) at Jun. 30, 2024	201,481,707			201,481,707

Nature of operations

Nature of operations	6 Months Ended
	Jun. 30, 2024
Nature of operations
Nature of operations	1. Nature of operations Triple Flag Precious Metals Corp. (“ TF Precious Metals ”) was incorporated on October 10, 2019 under the Canada Business Corporations Act . TF Precious Metals is domiciled in Canada and the address of its registered office is 161 Bay Street, Suite 4535, Toronto, Ontario, M5J 2S1, Canada. The condensed interim consolidated financial statements of TF Precious Metals for the three and six months ended June 30, 2024 and 2023 comprise TF Precious Metals and its wholly owned subsidiaries (together, the “ Company ” or “ Triple Flag ”). The Company is a precious-metals-focused streaming and royalty company. Its revenues are largely generated from a diversified portfolio of properties in Australia, Canada, Chile, Colombia, Cote d’Ivoire, Mexico, Mongolia, Peru, South Africa and the United States.

Basis of presentation

Basis of presentation	6 Months Ended
	Jun. 30, 2024
Basis of presentation
Basis of presentation	2. Basis of presentation These condensed interim consolidated financial statements of TF Precious Metals and its subsidiaries have been prepared in accordance with International Financial Reporting Standards (“ IFRS Accounting Standards ” or “ IFRS ”) as issued by the International Accounting Standards Board (“ IASB ”), applicable to the preparation of interim financial statements, including International Accounting Standard (“ IAS ”) 34, Interim Financial Reporting . These condensed interim consolidated financial statements should be read in conjunction with TF Precious Metals’ most recently issued audited financial statements for the years ended December 31, 2023, and 2022 (“ 2023 Annual Financial Statements ”), which include information necessary or useful to understanding the Company’s business and financial statement presentation. In particular, the Company’s material accounting policies were presented in Note 3 to the 2023 Annual Financial Statements and have been consistently applied in the preparation of these condensed interim consolidated financial statements. Certain comparative figures have been reclassified to conform to current year presentation. There were no new accounting standards effective January 1, 2024 that had a material impact to the Company’s financial statements as at June 30, 2024. These condensed interim consolidated financial statements were authorized for issuance by the Board of Directors of TF Precious Metals on August 7, 2024 .

Critical accounting estimates a

Critical accounting estimates and judgments and other developments	6 Months Ended
	Jun. 30, 2024
Critical accounting estimates and judgments and other developments
Critical accounting estimates and judgments and other developments	3. Critical accounting estimates and judgments and newly enacted tax rules 3a. Critical accounting estimates and judgments The judgments, estimates, assumptions and risks discussed here reflect updates from the 2023 Annual Financial Statements. For judgments, estimates, assumptions and risks related to other areas not discussed in these condensed interim consolidated financial statements, please refer to Note 4 of the 2023 Annual Financial Statements. Impairment As at June 30, 2024, Triple Flag identified indicators of impairment for our interests on the Moss mine, operated by Elevation Gold Mining Corp. (“ Elevation Gold ”) and the Pumpkin Hollow Copper project, operated by Nevada Copper Corp. (“ Nevada Copper ”). As a result, the Company performed impairment assessments, resulting in impairment charges recognized in the condensed interim consolidated statement of income (loss) for the three months ended June 30, 2024. Refer Note 9 for further details. ​ ​ 3b. Newly enacted tax rules Newly enacted excessive interest and financing expenses limitation (“EIFEL”) rules The Company is within the scope of the newly enacted Excessive Interest and Financing Expenses Limitation (“EIFEL”) rules, effective for taxation years beginning on or after October 1, 2023. Under the legislation, the Company and its Canadian subsidiaries are generally restricted on the deductibility of their respective interest and financing expense to the extent of an amount that is equal to a fixed percentage of the Company’s adjusted taxable income (as defined in the Federal Income Tax Act), subject to certain adjustments. For the three and six months ended June 30, 2024, there were no material restrictions on the deductibility of the interest and financing expense for the Company and its Canadian subsidiaries.

Key developments

Key developments	6 Months Ended
	Jun. 30, 2024
Key developments
Key developments	4 . Key developments Kensington litigation settlement On March 28, 2024, Triple Flag and Coeur Mining, Inc. (“ Coeur ”) entered into a settlement agreement to resolve litigation regarding the terms of a royalty held by Triple Flag on Coeur’s Kensington gold mine. As part of the settlement agreement, Triple Flag shall receive $6.75 million in Coeur shares ( $3.0 million received in April 2024, and $3.75 million to be received in the first quarter of 2025). The Coeur share consideration is in settlement of royalties in arrears and litigation expenses incurred. As such, the settlement amounts were recognized as revenue and recoupment of costs in the condensed interim consolidated statement of income (loss) for the six months ended June 30, 2024. Further to that settlement, Triple Flag and Coeur agreed to amend the terms of the existing Kensington royalty to provide that: ● Effective January 1, 2024, the royalty to pay at a rate of 1.25% of net smelter returns occurring through to December 31, 2026; ● The royalty rate will increase to 1.50% of net smelter returns from January 1, 2027; and ● The amended net smelter return (“ NSR ”) royalty is subject to a cap of two million ounces of gold, adjusted for consideration received related to royalties in arrears.

Amounts receivable and prepaid

Amounts receivable and prepaid expenses	6 Months Ended
	Jun. 30, 2024
Amounts receivable and prepaid expenses
Amounts receivable and prepaid expenses	5. Amounts receivable and prepaid expenses ​ ​ ​ ​ ​ ​ ​ ​ As at June 30, 2024 December 31, 2023 Royalty receivables ​ $ 16,954 ​ $ 11,655 Prepaid expenses ​ 254 ​ 1,190 Value added tax recoverable ​ 109 ​ 228 Other receivables ​ ​ — ​ ​ 652 Total amounts receivable and prepaid expenses ​ $ 17,317 ​ $ 13,725 ​ Royalty receivables represent amounts that are generally collected within 60 days of quarter-end. Prepaid expenses largely represent various insurance programs that are in place. Royalty receivables include $3.75 million pursuant to the Kensington litigation settlement (refer to Note 4).

Loans receivable

Loans receivable	6 Months Ended
	Jun. 30, 2024
Loans receivable
Loans receivable	6. Loans receivable ​ ​ ​ ​ ​ ​ ​ ​ As at June 30, 2024 December 31, 2023 Convertible debenture – Excelsior Mining ​ $ 1,708 ​ $ 1,638 Loan receivable – Elevation ​ ​ — ​ ​ 17,731 Promissory and demand notes receivable – Elevation ​ ​ — ​ ​ 6,490 Loan receivable – Nevada Copper ​ ​ — ​ ​ 11,840 Total loans receivable ​ ​ 1,708 ​ ​ 37,699 Provision for expected credit losses ​ ​ — ​ ​ (9,723) Net loans receivable ​ ​ 1,708 ​ ​ 27,976 Current portion ​ ​ — ​ ​ 8,990 Loans receivable – long-term ​ $ 1,708 ​ $ 18,986 ​ As of June 30, 2024, Triple Flag concluded that there is no reasonable expectation of recovery of the Nevada Copper loan receivable and the Elevation loan receivable and promissory and demand notes, resulting in impairment charges recognized in the condensed interim consolidated statement of income (loss) for the three months ended June 30, 2024. Refer to Note 9 for further details. ​ On February 9, 2023, Triple Flag invested $1.5 million in Excelsior Mining Corp (“ Excelsior ”) in the form of a Convertible Debenture (“ Debenture ”). The Debenture matures on February 9, 2026 and carries interest at 10% . Interest is payable in cash or in Excelsior shares, at the election of Triple Flag. The Debenture also has a conversion feature whereby Triple Flag has the option to convert it into Excelsior shares prior to maturity. ​ Expected credit losses for loans receivable is measured based on the general approach. Refer to Note 9 and 14.

Investments and prepaid gold in

Investments and prepaid gold interests	6 Months Ended
	Jun. 30, 2024
Investments and prepaid gold interests
Investments and prepaid gold interests	7. Investments and prepaid gold interests 7a. Prepaid gold interests ​ ​ ​ ​ ​ ​ ​ ​ As at June 30, 2024 December 31, 2023 Auramet ​ $ 39,947 ​ $ 40,248 Steppe Gold ​ ​ 6,177 ​ ​ — Total prepaid gold interests ​ ​ 46,124 ​ ​ 40,248 Current portion ​ ​ 12,839 ​ ​ 7,699 Non-current portion ​ $ 33,285 ​ $ 32,549 ​ For the three and six months ended June 30, 2024, the Company recognized a gain of $3.4 million and $5.5 million, respectively (2023: $0.4 million and $2.8 million), as a result of changes in the fair value of prepaid gold interests. Auramet On January 19, 2023, as part of the Maverix Metals Inc. (“ Maverix ”) acquisition, the Company acquired a prepaid gold interest with Auramet. The contract requires Auramet to deliver 1,250 ounces of gold to Triple Flag per quarter. Triple Flag is required to make ongoing cash payments equal to 16% of the spot gold price for each gold ounce delivered. On September 27, 2031, and after 50,000 ounces of gold have been delivered, Auramet shall have the option to terminate the prepaid interest agreement for a cash payment of $5.0 million, less certain cash flows related to the gold deliveries. The Auramet Prepaid Gold Interest is accounted for as a financial asset at fair value through profit or loss. The remaining contractual ounces to be delivered as of June 30, 2024 are 35,000 ounces of gold. The prepaid interest is classified as level 2 of the fair value hierarchy. Steppe Gold On March 15, 2024, Triple Flag and Steppe Gold agreed to amend and restate the Steppe Gold Prepaid Gold Interest agreement such that the Company would make a further cash payment of $5.0 million in exchange for delivery of 2,650 ounces of gold over five months , with the first delivery under the amended and restated agreement to be made in August 2024. The Steppe Gold Prepaid Gold Interest was accounted for as a financial asset at fair value through profit or loss. The prepaid interest is classified as level 2 of the fair value hierarchy. 7b. Investments Investments comprise equity interests and warrants in publicly traded and private companies and have been recorded at fair value. The fair value of public equity investments is classified as level 1 of the fair value hierarchy, as the main valuation inputs used are quoted prices in active markets. The fair value of private equity investments is classified as level 3, as the relevant observable inputs are not available. The fair value of the level 1 investments is $1.4 million (2023: $4.7 million) and the fair value of the level 3 investments is $1.6 million (2023: $1.6 million). For the three and six months ended June 30, 2024, the Company recognized a loss of $1.3 million and $1.8 million, respectively (2023: $1.4 million and $0.07 million), as a result of changes in fair value of investments. Triple Flag disposed of various equity investments during the three months ended June 30, 2024, for cash proceeds of $2.8 million (2023: nil ).

Mineral interests

Mineral interests	6 Months Ended
	Jun. 30, 2024
Mineral interests
Mineral interests	8. Mineral interests ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2024 Mineral Streams Royalties Total 1 Cost ​ ​ ​ As at January 1, 2024 ​ $ 1,357,954 ​ $ 835,460 ​ $ 2,193,414 Additions 2 ​ — ​ 3,766 ​ 3,766 Disposals ​ ​ — ​ ​ (366) ​ ​ (366) As at June 30, 2024 ​ $ 1,357,954 ​ $ 838,860 ​ $ 2,196,814 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depletion and impairments ​ ​ ​ ​ As at January 1, 2024 ​ $ (337,290) ​ $ (83,071) ​ $ (420,361) Depletion ​ (22,520) ​ (12,840) ​ (35,360) Impairment charges 3 ​ ​ (102,608) ​ ​ (4,438) ​ ​ (107,046) As at June 30, 2024 ​ $ (462,418) ​ $ (100,349) ​ $ (562,767) Carrying value ​ $ 895,536 ​ $ 738,511 ​ $ 1,634,047 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 Mineral Streams Royalties Total 1 Cost ​ ​ ​ As at January 1, 2023 ​ $ 1,281,254 ​ $ 285,857 ​ $ 1,567,111 Additions 4 ​ 76,700 ​ 552,603 ​ 629,303 Disposals 5 ​ — ​ (3,000) ​ (3,000) As at December 31, 2023 ​ $ 1,357,954 ​ $ 835,460 ​ $ 2,193,414 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depletion and impairments ​ ​ ​ ​ As at January 1, 2023 ​ $ (284,095) ​ $ (54,845) ​ $ (338,940) Depletion ​ (44,747) ​ (21,390) ​ (66,137) Impairment charges 6 ​ (8,448) ​ (6,836) ​ (15,284) As at December 31, 2023 ​ $ (337,290) ​ $ (83,071) ​ $ (420,361) Carrying value ​ $ 1,020,664 ​ $ 752,389 ​ $ 1,773,053 1. Includes $1,035 million (2023: $1,168 million) of depletable mineral interest and $599 million (2023: $605 million) of non-depletable mineral interest. Included within non-depletable mineral interest is $300 million (2023: $300 million) of exploration and evaluation assets, as defined by IFRS 6 Exploration for and Evaluation of Mineral Resources . No additions, disposals or impairments related to these assets in 2024 (2023: $166 million additions as part of the Maverix acquisition, and no disposals or impairments). Consequently, there were no cash flows related to these assets for the three and six months ended June 30, 2024 (2023: Cash paid for acquisition of mineral interests associated with the Maverix transaction was included as Investing Activities in the Statement of Cash Flows). 2. Includes $3.4 million funding for the Prieska royalty. 3. Includes impairment charges for the Nevada Copper stream ( $83.9 million), the Elevation stream ( $18.7 million) (refer to Note 9), and other royalty interests ( $4.4 million). 4. Reflects acquisition of Maverix, the Agbaou royalty ( $15.5 million), the Stawell royalty ( $16.6 million), the Johnson Camp Mine royalty ( $5.5 million), the Prieska royalty ( $3.5 million) and the Nueva Recuperada royalty ( $2.2 million). 5. Reflects the Eastern Borosi royalty buy-down. 6. Reflects impairment charges taken for the Renard stream ( $8.5 million) and the Beaufor royalty ( $6.8 million). ​ ​ ​ ​ ​ ​

Impairment charges and expected

Impairment charges and expected credit losses	6 Months Ended
	Jun. 30, 2024
Impairment charges and expected credit losses
Impairment charges and expected credit losses	9. Impairment charges and expected credit losses In accordance with the Company’s accounting policy, management assesses at the end of each reporting period whether there are any indicators that the carrying value of mineral interests may not be recoverable or that an impairment loss previously recognized should be reversed or partially reversed. Management applies significant judgment in assessing whether impairment indicators exist including, among others, significant adverse changes to (i) future production and operator reserve and resource estimates, (ii) current and forecast commodity prices, (iii) industry or economic trends, and (iv) other relevant operator information. Impairments in the carrying value of each cash-generating unit (“ CGU ”) are measured and recorded to the extent that the carrying value of each CGU exceeds its estimated recoverable amount, which is the higher of fair value less costs of disposal (“ FVLCD ”) and value-in-use (“ VIU ”), which is generally calculated using an estimate of future discounted cash flows. Impairment charges are included in the ‘‘Impairment charges and expected credit losses’’ line within the condensed interim consolidated statements of income (loss). In accordance with the Company’s accounting policy, loans receivable and receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to make contractual payments for a period of greater than 120 days past due, the failure of a debtor to engage in a repayment plan, and the inability of a debtor to fulfil a repayment plan. Impairment losses on loans receivable and receivables are presented as impairment charges within the ‘‘Impairment charges and expected credit losses’’ line in the condensed interim consolidated statements of income (loss). Subsequent recoveries of amounts previously written off are credited against the same line item. For the three and six months ended June 30, 2024, and 2023, Triple Flag recorded the following impairment charges and expected credit losses in the condensed interim consolidated statements of income (loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 For the six months ended June 30 ​ ​ 2024 ​ 2023 ​ ​ 2024 ​ 2023 Mineral interest impairment charges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nevada Copper 1 $ 83,920 ​ $ — ​ $ 83,920 ​ $ — Elevation Gold 2 ​ 18,688 ​ ​ — ​ ​ 18,688 ​ ​ — Other ​ 4,438 ​ ​ — ​ 4,438 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loan receivables impairment charges and expected credit losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nevada Copper 1 ​ 20,197 ​ ​ — ​ ​ 20,197 ​ ​ — Elevation Gold 2 ​ 14,528 ​ ​ — ​ ​ 21,380 ​ ​ — Other ​ — ​ ​ — ​ ​ (589) ​ ​ — Total impairment charges and expected credit losses $ 141,771 ​ $ — ​ $ 148,034 ​ $ — ​ 1. Nevada Copper Triple Flag has a 97.5% fixed ratio gold and silver stream on the Pumpkin Hollow underground mine, operated by Nevada Copper. As of December 31, 2023, Triple Flag also had the Tranche A-2 secured loan receivable from Nevada Copper of $11.8 million, which carried interest at SOFR plus an adjustment spread and a fixed margin. The loan matures on July 31, 2029, and can be repaid prior to maturity with no penalty. As of June 30, 2024, Triple Flag had funded a total of $20.0 million to Nevada Copper, $15.1 million through the Tranche A-2 secured loan receivable and $4.9 million through unsecured funding. The funding was provided as part of the restart financing package for operations at the Pumpkin Hollow underground mine, and for working capital and for Chapter 11 preparation purposes. During the three months ended June 30, 2024, Nevada Copper experienced financial difficulties, including increased ramp-up costs associated with the underground mine, failure to obtain funding through a change of control transaction and failure to secure additional interim funding from key stakeholders. This resulted in Nevada Copper filing a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court of the District of Nevada on June 10, 2024. Triple Flag identified the above as an indicator of impairment as of June 30, 2024. Management performed an impairment analysis for the Nevada Copper stream interest in accordance with IAS 36 Impairment of Assets (“ IAS 36 ”), and for the loan receivables under IFRS 9 Financial Instruments (“ IFRS 9 ”) . Triple Flag considered a variety of factors to determine the recoverable amount of the Nevada Copper stream and the recoverability of the loan receivable, including expected cash flows to be recovered from the Chapter 11 process under various scenarios, the contractual terms of the stream agreement in a Chapter 11 process, and Triple Flag’s security and position in Nevada Copper’s creditor rankings relative to other secured creditors. Triple Flag concluded that there is no reasonable expectation of recovery of the loan receivables and determined that the recoverable amount of the Nevada Copper stream was nil as of June 30, 2024, resulting in an impairment charge of $104.1 million. Triple Flag also has a 2.0% NSR royalty on the Pumpkin Hollow open pit project and a 2.0% NSR royalty on the Tedeboy exploration project. Management performed impairment analysis over these royalty interests by considering a variety of factors, including relevant production and commodity price scenarios, various production start date scenarios, and relevant contractual rights of the royalty agreements. Triple Flag concluded that the recoverable amount exceeded the carrying amount of $46.2 million, and as such, no impairment charge was recognized related to Triple Flag’s royalty interests in the condensed interim consolidated statement of income (loss) for the three and six months ended June 30, 2024. 2. Elevation Gold Triple Flag acquired the 100% silver stream on the Moss mine, operated by Elevation Gold, as part of the Maverix acquisition in January 2023. In conjunction with this transaction, Triple Flag also acquired a $10.2 million loan receivable from Elevation Gold, which had an outstanding balance receivable of $17.7 million as of December 31, 2023. As of December 31, 2023, Triple Flag also had promissory and demand notes receivable from Elevation Gold of $6.5 million and recorded a provision for expected credit losses of $9.7 million against these loans. The loan receivable accrues interest at an interest rate of 10% per annum and is repayable on or before February 28, 2025. As at March 31, 2024, Triple Flag had a total of $30.7 million loan receivable and promissory and demand notes receivable from Elevation Gold, and a total provision for expected credit losses of $16.6 million related to the loan receivables. As at March 31, 2024, Triple Flag identified an indicator of impairment for its stream interest in the Moss mine. As a result, the Company performed an impairment assessment considering relevant production and commodity price scenarios. The Company concluded that the recoverable amount exceeded the carrying amount and as such, no impairment charge was recognized in the condensed interim consolidated statement of income for the three months ended March 31, 2024. During the three months ended June 30, 2024, Elevation Gold continued to experience financial difficulty due to lower-than-expected production. As a result, Elevation Gold suspended royalty/finder fee payments and silver stream delivery obligations. This resulted in one royalty holder filing a claim in the Arizona State Superior Court against Elevation Gold for amounts owning pursuant to their royalty agreement. Elevation Gold reported on July 30, 2024, that it filed an application for creditor protection under the Companies’ Creditors Arrangement Act (“ CCAA ”) and will proceed with an interim cessation of active mining from the open pit at the Moss mine. Triple Flag identified the above as an indicator of impairment as of June 30, 2024, and performed an impairment analysis for the Elevation Gold stream interest in accordance with IAS 36, and for the loan receivables and promissory and demand notes under IFRS 9. Triple Flag considered a variety of factors to determine the recoverable amount of the Elevation Gold stream and the recoverability of the loan receivable and promissory and demand notes, including cash flows expected to be recovered from the CCAA process under various scenarios, as well as Triple Flag’s security and creditor ranking. Triple Flag concluded that there is no reasonable expectation of recovery of the loan receivable and promissory and demand notes and determined that the recoverable amount of the Elevation Gold stream was nil as of June 30, 2024, resulting in a total impairment and expected credit loss charge of $40.1 million.

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt
Debt	10. Debt ​ ​ ​ ​ ​ ​ ​ ​ As at June 30, 2024 December 31, 2023 Debt – opening balance ​ $ 57,000 ​ $ — Drawdowns ​ 10,000 ​ 130,000 Repayments ​ (47,000) ​ (73,000) Debt - closing balance ​ $ 20,000 ​ $ 57,000 ​ Revolving Credit Facility The Revolving Credit Facility (“ Credit Facility ”) is to be used for general corporate purposes and investments in the mineral industry, including the acquisition of mineral interests and other assets. The Credit Facility is secured by the Company’s assets, present and future (including mineral interests and other assets). Advances under the Credit Facility can be drawn as follows: ● Base rate loans with interest payable monthly at the greater of (a) the aggregate of (i) the Federal Funds Effective Rate and (ii) 1/2 of 1.0% per annum and (b) the Base Rate Canada, plus between 0.75% and 1.75% per annum (2023: 0.75% and 1.75% per annum) depending upon the Company’s leverage ratio; or ● SOFR loans for periods of one, two, three or six months with interest payable at a rate of SOFR, plus between 1.75% and 2.75% per annum (December 31, 2023: 1.75% and 2.75% per annum), depending on the Company’s leverage ratio. As at June 30, 2024, $20.0 million of the Credit Facility was drawn down (December 31, 2023: $57.0 million). Finance costs, net for the three and six months ended June 30, 2024, were $1.4 million and $2.7 million, respectively (2023: $1.3 million and $2.6 million), including interest charges and standby fees. The Credit Facility includes covenants that require the Company to maintain certain financial ratios, including the Company’s leverage ratios. As at June 30, 2024, all such ratios and requirements were met.

Operating expenses by nature

Operating expenses by nature	6 Months Ended
	Jun. 30, 2024
Operating expenses by nature
Operating expenses by nature	11. Operating expenses by nature 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 For the six months ended June 30 ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 Employee costs 2,3 ​ $ 5,107 ​ $ 3,280 ​ $ 9,675 ​ $ 7,223 Office, insurance and other expenses 4 ​ 1,454 ​ ​ 1,389 ​ 2,785 ​ 2,643 Professional services 3 ​ 1,300 ​ ​ 1,297 ​ 1,713 ​ 3,345 Total operating expenses ​ $ 7,861 ​ $ 5,966 ​ $ 14,173 ​ $ 13,211 1. Includes general administration costs and business development costs. 2. Includes share-based compensation expense of $2.3 million and $4.2 million for the three and six months ended June 30, 2024, respectively (2023: $1.3 million and $2.9 million). 3. Certain costs have been presented within business development costs due to their nature. 4. Includes amortization of $0.09 million and $0.18 million for the three and six months ended June 30, 2024, respectively (2023: $0.09 million and $0.18 million). ​

Earnings per share - basic and

Earnings per share - basic and diluted	6 Months Ended
	Jun. 30, 2024
Earnings per share - basic and diluted
Earnings per share - basic and diluted	12. Earnings per share – basic and diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 ​ ​ 2024 ​ 2023 ​ Basic Diluted Basic Diluted Net (loss) earnings ​ $ (111,437) ​ $ (111,437) ​ $ 16,034 ​ $ 16,034 Weighted average shares outstanding ​ 201,249,986 ​ ​ 201,249,986 ​ 202,041,353 ​ 202,383,167 (Loss) earnings per share ​ $ (0.55) ​ $ (0.55) ​ $ 0.08 ​ $ 0.08 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30 ​ ​ 2024 ​ 2023 ​ Basic Diluted Basic Diluted Net (loss) earnings ​ $ (94,013) ​ $ (94,013) ​ $ 32,568 ​ $ 32,568 Weighted average shares outstanding ​ 201,195,314 ​ 201,195,314 ​ 196,938,120 ​ 197,133,344 (Loss) earnings per share ​ $ (0.47) ​ $ (0.47) ​ $ 0.17 ​ $ 0.17 ​ ​ ​

Shareholders' equity

Shareholders' equity	6 Months Ended
	Jun. 30, 2024
Shareholders' equity
Shareholders' equity	13. Shareholders’ equity Share capital The Company is authorized to issue an unlimited number of common and preferred shares. At June 30, 2024, the share capital comprised 201,481,707 common shares with no par value. ​ ​ ​ ​ ​ ​ ​ ​ Number of common shares Share capital Balance at December 31, 2022 155,685,593 ​ $ 1,250,194 Issuance of shares pursuant to the Maverix acquisition ​ 45,097,390 ​ ​ 491,111 Exercise of stock options ​ 256,799 ​ ​ 442 Issuance of shares upon exercise of warrants 1 ​ 1,800,000 ​ ​ 24,336 Normal course issuer bid purchase of common shares and ASPP (1,485,820) ​ (16,903) Balance at December 31, 2023 201,353,962 ​ $ 1,749,180 Exercise of stock options ​ 410,845 ​ ​ (199) Normal course issuer bid purchase of common shares and ASPP (283,100) ​ 1,389 Balance at June 30, 2024 201,481,707 ​ $ 1,750,370 1. On April 12, 2023, the holder of 1,800,000 Triple Flag share warrants, exercised the warrants and acquired 1,800,000 Triple Flag shares at an exercise price of $9.11 per share. In November 2023, Triple Flag received approval from the TSX to renew its normal course issuer bid (“ NCIB ”). Under the NCIB, the Company may acquire up to 10,078,488 (2022 NCIB: 2,000,000 ) of its common shares from time to time in accordance with the NCIB procedures of the TSX. Repurchases under the NCIB are authorized until November 14, 2024. Daily purchases will be limited to 26,350 common shares, representing 25% of the average daily trading volume of the common shares on the TSX for the period from May 1, 2023 to October 31, 2023, except where purchases are made in accordance with the “block purchase exemption” of the TSX rules. All common shares that are repurchased by the Company under the NCIB will be cancelled. For the three and six months ended June 30, 2024, the Company purchased nil and 283,100 of its common shares under the NCIB (2023: 720,440 and 911,646 common shares) for $ nil and $3.6 million, respectively (2023: $10.5 million and $13.1 million). Under our current NCIB, Triple Flag may purchase a remaining 9,623,788 common shares out of the authorized total of 10,078,488 . In connection with the NCIB, the Company can establish an Automatic Share Purchase Plan (“ ASPP ”) with the designated broker responsible for the NCIB. The ASPP is intended to allow for the purchase of common shares under the NCIB at times when the Company would ordinarily not be permitted to purchase its common shares due to regulatory restrictions and customary self-imposed blackout periods. The Company did not establish an ASPP as at June 30, 2024. The Company accrued $8.0 million as at December 31, 2023, which reversed in 2024, for share repurchases under the ASPP for the self-imposed blackout period over the quarter-end reporting period. Dividends In the three and six months ended June 30, 2024, Triple Flag declared and paid dividends totaling $10.6 million and $21.1 million, respectively ( 2023 : $10.1 million and $20.1 million ), which equates to an average dividend per share of $0.0525 (2023: $0.05 ). For the three and six months ended June 30, 2024, no shares were issued from treasury for participation in the Distribution Reinvestment Plan (2023: nil ). ​ ​

Financial instruments

Financial instruments	6 Months Ended
	Jun. 30, 2024
Financial instruments
Financial instruments	14. Financial instruments The Company’s financial instruments include cash and cash equivalents, amounts receivable (excluding value added taxes and prepaid expenses), investments and loans receivable, amounts payable and other liabilities, lease obligations and debt. The Company applies all of the requirements of IFRS 9 to its financial instruments. The approach in IFRS 9 is based on how an entity manages its financial instruments and the contractual cash flow characteristics of the financial asset. IFRS 9 introduced a single expected credit loss impairment model, which is based on changes in debt or credit quality since initial recognition. IFRS 9 applies an expected credit loss model to evaluate financial assets for impairment. The Company’s financial assets that are subject to credit risk include cash and cash equivalents, amounts receivable (excluding value added taxes and prepaid expenses) and loans receivable. The amounts receivable (excluding value added taxes and prepaid expenses) are carried at amortized cost and had a carrying value of $ 17.0 million as at June 30, 2024 (December 31, 2023: $12.3 million) and loans receivable had a carrying value of $1.7 million (December 31, 2023: $28.0 million). The expected credit loss for the loans receivable is measured based on the general approach. The expected credit losses were estimated as the difference between the contractual cash flows that are due to Triple Flag and the cash flows that management expects to receive, discounted at the original effective interest rate. Cash flows that management expects to receive are based on the expected ability of the counterparties to repay the amounts owed, which is dependent on a variety of factors including, among others, production results, operating costs, commodity prices and capital requirements. Triple Flag considered both quantitative and qualitative factors as part of this assessment. For the three months ended June 30, 2024, the application of the expected credit loss model did not have a significant impact, because the Company determined that the expected credit losses on the loan receivable was nominal. The Company applies the simplified approach permitted by IFRS 9 for amounts receivable, which requires lifetime expected credit losses to be recognized from initial recognition of the receivables. Considering the current turnover and credit risk associated with the amounts receivable (excluding value added taxes and prepaid expenses), the application of the expected credit loss model did not have a significant impact, because the Company determined that the expected credit losses on these financial assets were nominal. To provide an indication of the reliability of the inputs used in determining fair value, the Company classifies its financial instruments into the three levels prescribed under the accounting standards. The fair value hierarchy establishes three levels to classify the inputs to valuation techniques used to measure fair value. Refer to Note 7 for additional details on the fair value hierarchy classification of investments that are measured at fair value. The carrying value of amounts receivable (excluding value added taxes and prepaid expenses), cash and cash equivalents, investments and prepaid gold interests, loans receivable, amounts payable and other liabilities, and debt approximates their fair value. Financial assets and financial liabilities as at June 30, 2024, and December 31, 2023, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets ​ Financial liabilities As at June 30, 2024 FVTPL at amortized cost at amortized cost Cash and cash equivalents ​ $ — ​ $ 21,063 ​ $ — Amounts receivable (excluding value added taxes and prepaid expenses) ​ — ​ 16,954 ​ — Prepaid gold interests and investments ​ ​ 49,089 ​ ​ — ​ ​ — Loans receivable ​ — ​ 1,708 ​ — Amounts payable and other liabilities ​ — ​ — ​ 6,457 Debt ​ ​ — ​ ​ — ​ ​ 20,000 Total ​ $ 49,089 ​ $ 39,725 ​ $ 26,457 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets ​ Financial liabilities As at December 31, 2023 FVTPL at amortized cost at amortized cost Cash and cash equivalents ​ $ — ​ $ 17,379 ​ $ — Amounts receivable (excluding value added taxes and prepaid expenses) ​ — ​ 12,307 ​ — Prepaid gold interests and investments ​ ​ 46,496 ​ ​ — ​ ​ — Loans receivable ​ — ​ 27,976 ​ — Amounts payable and other liabilities ​ — ​ — ​ 15,666 Debt ​ ​ — ​ — ​ 57,000 Total ​ $ 46,496 ​ $ 57,662 ​ $ 72,666 ​ ​

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue
Revenue	15. Revenue Revenue is comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 For the six months ended June 30 ​ ​ 2024 ​ 2023 ​ ​ 2024 ​ 2023 Revenue from contracts with customers ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Streaming and related interests ​ ​ ​ ​ Silver $ 25,485 ​ $ 15,696 ​ $ 44,652 ​ $ 36,540 Gold ​ 23,614 ​ ​ 20,992 ​ ​ 43,950 ​ ​ 39,286 Other ​ — ​ ​ 2,191 ​ — ​ 4,326 Royalty Interests ​ 14,482 ​ ​ 13,712 ​ 31,135 ​ 22,708 Revenue – other ​ — ​ ​ — ​ ​ 1,372 ​ — Total revenues $ 63,581 ​ $ 52,591 ​ $ 121,109 ​ $ 102,860 ​ Stream and related interests and royalty revenues were mainly earned from the following mineral interests: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 ​ For the six months ended June 30 ​ ​ 2024 2023 ​ ​ 2024 2023 Revenue from contracts with customers ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Streaming and related interests ​ ​ ​ ​ ​ Cerro Lindo $ 20,071 ​ $ 8,012 ​ $ 33,699 ​ $ 21,987 Northparkes 15,479 ​ 9,006 ​ 28,488 ​ 14,195 Impala Bafokeng 3,284 ​ 3,163 ​ 6,465 ​ 6,037 Altan Tsagaan Ovoo 2,931 ​ 5,617 ​ 5,780 ​ 11,727 Auramet ​ 2,930 ​ ​ 2,390 ​ ​ 5,538 ​ ​ 4,850 Buriticá 3,402 ​ 2,825 ​ 5,417 ​ 5,617 La Colorada ​ 1,002 ​ ​ 1,389 ​ ​ 2,139 ​ ​ 2,655 Moss ​ — ​ ​ 2,952 ​ ​ 1,076 ​ ​ 5,946 Other ​ — ​ ​ 3,525 ​ ​ — ​ ​ 7,138 ​ $ 49,099 ​ $ 38,879 ​ $ 88,602 ​ $ 80,152 Royalty Interests ​ ​ ​ Beta Hunt $ 3,376 ​ $ 2,853 ​ $ 5,889 ​ $ 4,687 Kensington ​ 562 ​ ​ — ​ ​ 5,168 ​ ​ — Fosterville ​ 2,107 ​ ​ 3,354 ​ ​ 4,283 ​ ​ 5,036 Young-Davidson 1,582 ​ 1,383 ​ 2,931 ​ 2,569 Camino Rojo ​ 1,434 ​ ​ 1,050 ​ ​ 2,791 ​ ​ 2,039 Florida Canyon ​ 1,283 ​ ​ 961 ​ ​ 2,211 ​ ​ 1,425 Dargues 1,038 ​ 1,084 ​ 2,137 ​ 1,473 Agbaou ​ 928 ​ ​ 906 ​ ​ 1,607 ​ ​ 906 Stawell ​ 568 ​ ​ 215 ​ ​ 1,357 ​ ​ 451 Other ​ 1,604 ​ ​ 1,906 ​ ​ 2,761 ​ ​ 4,122 ​ $ 14,482 ​ $ 13,712 ​ $ 31,135 ​ $ 22,708 Revenue from contracts with customers $ 63,581 ​ $ 52,591 ​ $ 119,737 ​ $ 102,860 Revenue – other $ — ​ $ — ​ $ 1,372 ​ $ — Total revenues $ 63,581 ​ $ 52,591 ​ $ 121,109 ​ $ 102,860 ​ ​

Segment disclosure

Segment disclosure	6 Months Ended
	Jun. 30, 2024
Segment disclosure
Segment disclosure	16. Segment disclosure The Company’s business is organized into one single operating segment, consisting of acquiring and managing precious metals and other high-quality streams and related interests and royalties. The Company’s chief operating decision-maker, the CEO, makes capital allocation decisions, reviews operating results and assesses performance. Geographic revenues from the sale of metals acquired from streams and related interests and royalties is determined by the location of the mining operations giving rise to the stream and related interest or royalty. For the three and six months ended June 30, 2024, and 2023, stream and related interest and royalty revenues were mainly earned from the following jurisdictions: Revenue by geography ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 ​ For the six months ended June 30 ​ 2024 2023 ​ ​ 2024 2023 Australia 1 ​ $ 23,153 ​ $ 16,821 ​ $ 43,024 ​ $ 26,902 Peru 2 ​ 20,223 ​ 8,165 ​ 34,066 ​ 22,290 United States 3 ​ ​ 4,774 ​ ​ 6,462 ​ ​ 15,365 ​ ​ 12,423 South Africa 4 ​ 3,283 ​ 3,163 ​ 6,464 ​ 6,037 Mongolia 4 ​ ​ 2,931 ​ ​ 5,617 ​ ​ 5,780 ​ ​ 11,727 Mexico 5 ​ ​ 2,680 ​ ​ 2,975 ​ ​ 5,423 ​ ​ 5,903 Colombia 4 ​ 3,403 ​ 2,825 ​ 5,418 ​ 5,617 Canada 6 ​ 2,206 ​ 4,118 ​ 3,961 ​ 7,840 Other 7 ​ ​ 928 ​ ​ 2,445 ​ ​ 1,608 ​ ​ 4,121 Total revenues ​ $ 63,581 ​ $ 52,591 ​ $ 121,109 ​ $ 102,860 ​ 1. Includes revenue from streams for the three and six months ended June 30, 2024, of $15.5 million and $28.5 million, respectively (2023: $9.0 million and $14.2 million), and revenue from royalties for the three and six months ended June 30, 2024, of $7.7 million and $14.5 million, respectively (2023: $7.8 million and $12.7 million). 2. Includes revenue from streams for the three and six months ended June 30, 2024, of $20.1 million and $33.7 million, respectively (2023: $8.0 million and $22.0 million), and revenue from royalties for the three and six months ended June 30, 2024, of $0.2 million and $0.4 million, respectively (2023: $0.2 million and $0.3 million). 3. Includes revenue from streams and related interests for the three and six months ended June 30, 2024, of $2.9 million and $6.6 million, respectively (2023: $ 5.6 million and $11.0 million), revenue from royalties for the three and six months ended June 30, 2024, of $1.9 million and $7.5 million, respectively (2023: $ 0.9 million and $1.4 million), and other revenue for the three and six months ended June 30, 2024, of $ nil and $ 1.3 million, respectively (2023: $ nil ). 4. All revenue from streams. 5. Includes revenue from streams for the three and six months ended June 30, 2024, of $1.0 million and $2.1 million, respectively (2023: $1.4 million and $2.7 million), and revenue from royalties for the three and six months ended June 30, 2024, of $1.7 million and $3.3 million, respectively (2023: $ 1.6 million and $3.2 million). 6. Includes revenue from streams for the three and six months ended June 30, 2024, of $ nil (2023: $2.0 million and $4.1 million), and revenue from royalties for the three and six months ended June 30, 2024, of $2.2 million and $4.0 million, respectively (2023: $2.1 million and $3.8 million). 7. Includes royalty revenue from Chile, Cote d’Ivoire and Honduras. ​ ​

Change in working capital

Change in working capital	6 Months Ended
	Jun. 30, 2024
Change in working capital
Change in working capital	17. Change in working capital ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 ​ For the six months ended June 30 ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 Decrease (increase) in amounts receivable and other assets $ 3,038 ​ $ (222) ​ $ (2,855) ​ $ 1,528 (Increase) decrease in inventory (1,065) ​ 64 ​ (742) ​ — Increase (decrease) in amounts payable and other liabilities 453 ​ (342) ​ 129 ​ (522) Change in working capital $ 2,426 ​ $ (500) ​ $ (3,468) ​ $ 1,006 ​

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2024
Subsequent events
Subsequent events	18. Subsequent events ​ Acquisition of 3% gold streams on Agbaou and Bonikro ​ On August 7, 2024, Triple Flag acquired 3% streams on each of the Agbaou and Bonikro mines operated by Allied Gold Corp. (“ Allied ”) for total cash consideration of $53.0 million. Triple Flag will make ongoing payments of 10% of the spot gold price for each ounce delivered under the streams. The streams will cover the existing mining and exploration licenses for the Agbaou and Bonikro mines, both located in Cote d’Ivoire. ​ Under the Agbaou stream, the gold stream will step down to 2% payable gold after the delivery of 29,000 ounces of gold, and under the Bonikro stream the gold stream will step down to 2% payable gold after the delivery of 39,300 ounces of gold. From 2024 to 2027 the streams are subject to a period of annual minimum deliveries, under the Agbaou stream an annual minimum of 2,500 to 2,750 GEOs will be delivered and under the Bonikro stream an annual minimum of 3,500 to 4,250 GEOs will be delivered. A parent guarantee is provided by Allied. ​ Acquisition of additional Tamarack royalty ​ On July 5, 2024, Triple Flag acquired an additional 1.0% NSR royalty from Talon Nickel (USA) LLC (“ Talon ”), a wholly owned subsidiary of Talon Metals Corp., a TSX-listed company, for total consideration of $8.0 million (“ Additional Tamarack Royalty ”). The royalty will be paid out of Talon’s participating interest in the Tamarack project. Triple Flag also received 8 million common share purchase warrants, each exercisable to acquire one share of Talon Metals Corp. for an exercise price of C $0.20 per share for a period of two years . The royalty is subject to a buydown right to reduce the Additional Tamarack Royalty to 0.6% for $5.0 million, exercisable for a period of two years , subject to certain conditions. This Additional Tamarack Royalty is in addition to the 1.11% NSR royalty Triple Flag already owns on Tamarack. ​ ​

Amounts receivable and prepai_2

Amounts receivable and prepaid expenses (Tables)	6 Months Ended
	Jun. 30, 2024
Amounts receivable and prepaid expenses
Schedule of amounts receivable and prepaid expenses	​ ​ ​ ​ ​ ​ ​ ​ As at June 30, 2024 December 31, 2023 Royalty receivables ​ $ 16,954 ​ $ 11,655 Prepaid expenses ​ 254 ​ 1,190 Value added tax recoverable ​ 109 ​ 228 Other receivables ​ ​ — ​ ​ 652 Total amounts receivable and prepaid expenses ​ $ 17,317 ​ $ 13,725

Loans receivable (Tables)

Loans receivable (Tables)	6 Months Ended
	Jun. 30, 2024
Loans receivable
Schedule of loans receivable	​ ​ ​ ​ ​ ​ ​ ​ As at June 30, 2024 December 31, 2023 Convertible debenture – Excelsior Mining ​ $ 1,708 ​ $ 1,638 Loan receivable – Elevation ​ ​ — ​ ​ 17,731 Promissory and demand notes receivable – Elevation ​ ​ — ​ ​ 6,490 Loan receivable – Nevada Copper ​ ​ — ​ ​ 11,840 Total loans receivable ​ ​ 1,708 ​ ​ 37,699 Provision for expected credit losses ​ ​ — ​ ​ (9,723) Net loans receivable ​ ​ 1,708 ​ ​ 27,976 Current portion ​ ​ — ​ ​ 8,990 Loans receivable – long-term ​ $ 1,708 ​ $ 18,986

Investments and prepaid gold _2

Investments and prepaid gold interests (Tables)	6 Months Ended
	Jun. 30, 2024
Investments and prepaid gold interests
Schedule of prepaid gold interests	​ ​ ​ ​ ​ ​ ​ ​ As at June 30, 2024 December 31, 2023 Auramet ​ $ 39,947 ​ $ 40,248 Steppe Gold ​ ​ 6,177 ​ ​ — Total prepaid gold interests ​ ​ 46,124 ​ ​ 40,248 Current portion ​ ​ 12,839 ​ ​ 7,699 Non-current portion ​ $ 33,285 ​ $ 32,549

Mineral interests (Tables)

Mineral interests (Tables)	6 Months Ended
	Jun. 30, 2024
Mineral interests
Schedule of mineral interests	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2024 Mineral Streams Royalties Total 1 Cost ​ ​ ​ As at January 1, 2024 ​ $ 1,357,954 ​ $ 835,460 ​ $ 2,193,414 Additions 2 ​ — ​ 3,766 ​ 3,766 Disposals ​ ​ — ​ ​ (366) ​ ​ (366) As at June 30, 2024 ​ $ 1,357,954 ​ $ 838,860 ​ $ 2,196,814 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depletion and impairments ​ ​ ​ ​ As at January 1, 2024 ​ $ (337,290) ​ $ (83,071) ​ $ (420,361) Depletion ​ (22,520) ​ (12,840) ​ (35,360) Impairment charges 3 ​ ​ (102,608) ​ ​ (4,438) ​ ​ (107,046) As at June 30, 2024 ​ $ (462,418) ​ $ (100,349) ​ $ (562,767) Carrying value ​ $ 895,536 ​ $ 738,511 ​ $ 1,634,047 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 Mineral Streams Royalties Total 1 Cost ​ ​ ​ As at January 1, 2023 ​ $ 1,281,254 ​ $ 285,857 ​ $ 1,567,111 Additions 4 ​ 76,700 ​ 552,603 ​ 629,303 Disposals 5 ​ — ​ (3,000) ​ (3,000) As at December 31, 2023 ​ $ 1,357,954 ​ $ 835,460 ​ $ 2,193,414 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depletion and impairments ​ ​ ​ ​ As at January 1, 2023 ​ $ (284,095) ​ $ (54,845) ​ $ (338,940) Depletion ​ (44,747) ​ (21,390) ​ (66,137) Impairment charges 6 ​ (8,448) ​ (6,836) ​ (15,284) As at December 31, 2023 ​ $ (337,290) ​ $ (83,071) ​ $ (420,361) Carrying value ​ $ 1,020,664 ​ $ 752,389 ​ $ 1,773,053 1. Includes $1,035 million (2023: $1,168 million) of depletable mineral interest and $599 million (2023: $605 million) of non-depletable mineral interest. Included within non-depletable mineral interest is $300 million (2023: $300 million) of exploration and evaluation assets, as defined by IFRS 6 Exploration for and Evaluation of Mineral Resources . No additions, disposals or impairments related to these assets in 2024 (2023: $166 million additions as part of the Maverix acquisition, and no disposals or impairments). Consequently, there were no cash flows related to these assets for the three and six months ended June 30, 2024 (2023: Cash paid for acquisition of mineral interests associated with the Maverix transaction was included as Investing Activities in the Statement of Cash Flows). 2. Includes $3.4 million funding for the Prieska royalty. 3. Includes impairment charges for the Nevada Copper stream ( $83.9 million), the Elevation stream ( $18.7 million) (refer to Note 9), and other royalty interests ( $4.4 million). 4. Reflects acquisition of Maverix, the Agbaou royalty ( $15.5 million), the Stawell royalty ( $16.6 million), the Johnson Camp Mine royalty ( $5.5 million), the Prieska royalty ( $3.5 million) and the Nueva Recuperada royalty ( $2.2 million). 5. Reflects the Eastern Borosi royalty buy-down. 6. Reflects impairment charges taken for the Renard stream ( $8.5 million) and the Beaufor royalty ( $6.8 million).

Impairment charges and expect_2

Impairment charges and expected credit losses (Tables)	6 Months Ended
	Jun. 30, 2024
Impairment charges and expected credit losses
Schedule of impairment charges and expected credit losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 For the six months ended June 30 ​ ​ 2024 ​ 2023 ​ ​ 2024 ​ 2023 Mineral interest impairment charges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nevada Copper 1 $ 83,920 ​ $ — ​ $ 83,920 ​ $ — Elevation Gold 2 ​ 18,688 ​ ​ — ​ ​ 18,688 ​ ​ — Other ​ 4,438 ​ ​ — ​ 4,438 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loan receivables impairment charges and expected credit losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nevada Copper 1 ​ 20,197 ​ ​ — ​ ​ 20,197 ​ ​ — Elevation Gold 2 ​ 14,528 ​ ​ — ​ ​ 21,380 ​ ​ — Other ​ — ​ ​ — ​ ​ (589) ​ ​ — Total impairment charges and expected credit losses $ 141,771 ​ $ — ​ $ 148,034 ​ $ —

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt
Schedule of Debt	​ ​ ​ ​ ​ ​ ​ ​ As at June 30, 2024 December 31, 2023 Debt – opening balance ​ $ 57,000 ​ $ — Drawdowns ​ 10,000 ​ 130,000 Repayments ​ (47,000) ​ (73,000) Debt - closing balance ​ $ 20,000 ​ $ 57,000

Operating expenses by nature (T

Operating expenses by nature (Tables)	6 Months Ended
	Jun. 30, 2024
Operating expenses by nature
Schedule of operating expenses by nature	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 For the six months ended June 30 ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 Employee costs 2,3 ​ $ 5,107 ​ $ 3,280 ​ $ 9,675 ​ $ 7,223 Office, insurance and other expenses 4 ​ 1,454 ​ ​ 1,389 ​ 2,785 ​ 2,643 Professional services 3 ​ 1,300 ​ ​ 1,297 ​ 1,713 ​ 3,345 Total operating expenses ​ $ 7,861 ​ $ 5,966 ​ $ 14,173 ​ $ 13,211 1. Includes general administration costs and business development costs. 2. Includes share-based compensation expense of $2.3 million and $4.2 million for the three and six months ended June 30, 2024, respectively (2023: $1.3 million and $2.9 million). 3. Certain costs have been presented within business development costs due to their nature. 4. Includes amortization of $0.09 million and $0.18 million for the three and six months ended June 30, 2024, respectively (2023: $0.09 million and $0.18 million). ​

Earnings per share - basic an_2

Earnings per share - basic and diluted (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings per share - basic and diluted
Summary of earnings per share - basic and diluted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 ​ ​ 2024 ​ 2023 ​ Basic Diluted Basic Diluted Net (loss) earnings ​ $ (111,437) ​ $ (111,437) ​ $ 16,034 ​ $ 16,034 Weighted average shares outstanding ​ 201,249,986 ​ ​ 201,249,986 ​ 202,041,353 ​ 202,383,167 (Loss) earnings per share ​ $ (0.55) ​ $ (0.55) ​ $ 0.08 ​ $ 0.08 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30 ​ ​ 2024 ​ 2023 ​ Basic Diluted Basic Diluted Net (loss) earnings ​ $ (94,013) ​ $ (94,013) ​ $ 32,568 ​ $ 32,568 Weighted average shares outstanding ​ 201,195,314 ​ 201,195,314 ​ 196,938,120 ​ 197,133,344 (Loss) earnings per share ​ $ (0.47) ​ $ (0.47) ​ $ 0.17 ​ $ 0.17

Shareholders' equity (Tables)

Shareholders' equity (Tables)	6 Months Ended
	Jun. 30, 2024
Shareholders' equity
Schedule of share capital	​ ​ ​ ​ ​ ​ ​ ​ Number of common shares Share capital Balance at December 31, 2022 155,685,593 ​ $ 1,250,194 Issuance of shares pursuant to the Maverix acquisition ​ 45,097,390 ​ ​ 491,111 Exercise of stock options ​ 256,799 ​ ​ 442 Issuance of shares upon exercise of warrants 1 ​ 1,800,000 ​ ​ 24,336 Normal course issuer bid purchase of common shares and ASPP (1,485,820) ​ (16,903) Balance at December 31, 2023 201,353,962 ​ $ 1,749,180 Exercise of stock options ​ 410,845 ​ ​ (199) Normal course issuer bid purchase of common shares and ASPP (283,100) ​ 1,389 Balance at June 30, 2024 201,481,707 ​ $ 1,750,370 1. On April 12, 2023, the holder of 1,800,000 Triple Flag share warrants, exercised the warrants and acquired 1,800,000 Triple Flag shares at an exercise price of $9.11 per share.

Financial instruments (Tables)

Financial instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Financial instruments
Summary of financial assets and financial liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets ​ Financial liabilities As at June 30, 2024 FVTPL at amortized cost at amortized cost Cash and cash equivalents ​ $ — ​ $ 21,063 ​ $ — Amounts receivable (excluding value added taxes and prepaid expenses) ​ — ​ 16,954 ​ — Prepaid gold interests and investments ​ ​ 49,089 ​ ​ — ​ ​ — Loans receivable ​ — ​ 1,708 ​ — Amounts payable and other liabilities ​ — ​ — ​ 6,457 Debt ​ ​ — ​ ​ — ​ ​ 20,000 Total ​ $ 49,089 ​ $ 39,725 ​ $ 26,457 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets ​ Financial liabilities As at December 31, 2023 FVTPL at amortized cost at amortized cost Cash and cash equivalents ​ $ — ​ $ 17,379 ​ $ — Amounts receivable (excluding value added taxes and prepaid expenses) ​ — ​ 12,307 ​ — Prepaid gold interests and investments ​ ​ 46,496 ​ ​ — ​ ​ — Loans receivable ​ — ​ 27,976 ​ — Amounts payable and other liabilities ​ — ​ — ​ 15,666 Debt ​ ​ — ​ — ​ 57,000 Total ​ $ 46,496 ​ $ 57,662 ​ $ 72,666

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue
Summary of total revenues	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 For the six months ended June 30 ​ ​ 2024 ​ 2023 ​ ​ 2024 ​ 2023 Revenue from contracts with customers ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Streaming and related interests ​ ​ ​ ​ Silver $ 25,485 ​ $ 15,696 ​ $ 44,652 ​ $ 36,540 Gold ​ 23,614 ​ ​ 20,992 ​ ​ 43,950 ​ ​ 39,286 Other ​ — ​ ​ 2,191 ​ — ​ 4,326 Royalty Interests ​ 14,482 ​ ​ 13,712 ​ 31,135 ​ 22,708 Revenue – other ​ — ​ ​ — ​ ​ 1,372 ​ — Total revenues $ 63,581 ​ $ 52,591 ​ $ 121,109 ​ $ 102,860 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 ​ For the six months ended June 30 ​ ​ 2024 2023 ​ ​ 2024 2023 Revenue from contracts with customers ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Streaming and related interests ​ ​ ​ ​ ​ Cerro Lindo $ 20,071 ​ $ 8,012 ​ $ 33,699 ​ $ 21,987 Northparkes 15,479 ​ 9,006 ​ 28,488 ​ 14,195 Impala Bafokeng 3,284 ​ 3,163 ​ 6,465 ​ 6,037 Altan Tsagaan Ovoo 2,931 ​ 5,617 ​ 5,780 ​ 11,727 Auramet ​ 2,930 ​ ​ 2,390 ​ ​ 5,538 ​ ​ 4,850 Buriticá 3,402 ​ 2,825 ​ 5,417 ​ 5,617 La Colorada ​ 1,002 ​ ​ 1,389 ​ ​ 2,139 ​ ​ 2,655 Moss ​ — ​ ​ 2,952 ​ ​ 1,076 ​ ​ 5,946 Other ​ — ​ ​ 3,525 ​ ​ — ​ ​ 7,138 ​ $ 49,099 ​ $ 38,879 ​ $ 88,602 ​ $ 80,152 Royalty Interests ​ ​ ​ Beta Hunt $ 3,376 ​ $ 2,853 ​ $ 5,889 ​ $ 4,687 Kensington ​ 562 ​ ​ — ​ ​ 5,168 ​ ​ — Fosterville ​ 2,107 ​ ​ 3,354 ​ ​ 4,283 ​ ​ 5,036 Young-Davidson 1,582 ​ 1,383 ​ 2,931 ​ 2,569 Camino Rojo ​ 1,434 ​ ​ 1,050 ​ ​ 2,791 ​ ​ 2,039 Florida Canyon ​ 1,283 ​ ​ 961 ​ ​ 2,211 ​ ​ 1,425 Dargues 1,038 ​ 1,084 ​ 2,137 ​ 1,473 Agbaou ​ 928 ​ ​ 906 ​ ​ 1,607 ​ ​ 906 Stawell ​ 568 ​ ​ 215 ​ ​ 1,357 ​ ​ 451 Other ​ 1,604 ​ ​ 1,906 ​ ​ 2,761 ​ ​ 4,122 ​ $ 14,482 ​ $ 13,712 ​ $ 31,135 ​ $ 22,708 Revenue from contracts with customers $ 63,581 ​ $ 52,591 ​ $ 119,737 ​ $ 102,860 Revenue – other $ — ​ $ — ​ $ 1,372 ​ $ — Total revenues $ 63,581 ​ $ 52,591 ​ $ 121,109 ​ $ 102,860

Segment disclosure (Tables)

Segment disclosure (Tables)	6 Months Ended
	Jun. 30, 2024
Segment disclosure
Schedule of revenue by geography	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 ​ For the six months ended June 30 ​ 2024 2023 ​ ​ 2024 2023 Australia 1 ​ $ 23,153 ​ $ 16,821 ​ $ 43,024 ​ $ 26,902 Peru 2 ​ 20,223 ​ 8,165 ​ 34,066 ​ 22,290 United States 3 ​ ​ 4,774 ​ ​ 6,462 ​ ​ 15,365 ​ ​ 12,423 South Africa 4 ​ 3,283 ​ 3,163 ​ 6,464 ​ 6,037 Mongolia 4 ​ ​ 2,931 ​ ​ 5,617 ​ ​ 5,780 ​ ​ 11,727 Mexico 5 ​ ​ 2,680 ​ ​ 2,975 ​ ​ 5,423 ​ ​ 5,903 Colombia 4 ​ 3,403 ​ 2,825 ​ 5,418 ​ 5,617 Canada 6 ​ 2,206 ​ 4,118 ​ 3,961 ​ 7,840 Other 7 ​ ​ 928 ​ ​ 2,445 ​ ​ 1,608 ​ ​ 4,121 Total revenues ​ $ 63,581 ​ $ 52,591 ​ $ 121,109 ​ $ 102,860 ​ 1. Includes revenue from streams for the three and six months ended June 30, 2024, of $15.5 million and $28.5 million, respectively (2023: $9.0 million and $14.2 million), and revenue from royalties for the three and six months ended June 30, 2024, of $7.7 million and $14.5 million, respectively (2023: $7.8 million and $12.7 million). 2. Includes revenue from streams for the three and six months ended June 30, 2024, of $20.1 million and $33.7 million, respectively (2023: $8.0 million and $22.0 million), and revenue from royalties for the three and six months ended June 30, 2024, of $0.2 million and $0.4 million, respectively (2023: $0.2 million and $0.3 million). 3. Includes revenue from streams and related interests for the three and six months ended June 30, 2024, of $2.9 million and $6.6 million, respectively (2023: $ 5.6 million and $11.0 million), revenue from royalties for the three and six months ended June 30, 2024, of $1.9 million and $7.5 million, respectively (2023: $ 0.9 million and $1.4 million), and other revenue for the three and six months ended June 30, 2024, of $ nil and $ 1.3 million, respectively (2023: $ nil ). 4. All revenue from streams. 5. Includes revenue from streams for the three and six months ended June 30, 2024, of $1.0 million and $2.1 million, respectively (2023: $1.4 million and $2.7 million), and revenue from royalties for the three and six months ended June 30, 2024, of $1.7 million and $3.3 million, respectively (2023: $ 1.6 million and $3.2 million). 6. Includes revenue from streams for the three and six months ended June 30, 2024, of $ nil (2023: $2.0 million and $4.1 million), and revenue from royalties for the three and six months ended June 30, 2024, of $2.2 million and $4.0 million, respectively (2023: $2.1 million and $3.8 million). 7. Includes royalty revenue from Chile, Cote d’Ivoire and Honduras.

Change in working capital (Tabl

Change in working capital (Tables)	6 Months Ended
	Jun. 30, 2024
Change in working capital
Summary of change in working capital	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30 ​ For the six months ended June 30 ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 Decrease (increase) in amounts receivable and other assets $ 3,038 ​ $ (222) ​ $ (2,855) ​ $ 1,528 (Increase) decrease in inventory (1,065) ​ 64 ​ (742) ​ — Increase (decrease) in amounts payable and other liabilities 453 ​ (342) ​ 129 ​ (522) Change in working capital $ 2,426 ​ $ (500) ​ $ (3,468) ​ $ 1,006 ​

Key developments - Kensington l

Key developments - Kensington litigation settlement (Details) - Kensington $ in Thousands, oz in Millions		1 Months Ended
	Mar. 28, 2024 USD ($) oz	Apr. 30, 2024 USD ($)	Mar. 31, 2025 USD ($)
Key Developments
Consideration to be received	$ 6,750		$ 3,750
Consideration received		$ 3,000
Subjected cap of ounces of gold for net smelter return royalty | oz	2
Period from January 1, 2024 through to December 31, 2026
Key Developments
Rate of net smelter returns for payment of royalty (in percent)	1.25%
Period from January 1, 2027
Key Developments
Rate of net smelter returns for payment of royalty (in percent)	1.50%

Amounts receivable and prepai_3

Amounts receivable and prepaid expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Amounts receivable and prepaid expenses
Royalty receivables	$ 16,954	$ 11,655
Prepaid expenses	254	1,190
Value added tax recoverable	109	228
Other receivables	0	652
Total amounts receivable and prepaid expenses	$ 17,317	$ 13,725

Amounts receivable and prepai_4

Amounts receivable and prepaid expenses - Additional information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Mar. 31, 2025	Mar. 28, 2024
Amounts receivable and prepaid expenses
Royalties receivable, collectability period (in days)	60 days
Kensington
Amounts receivable and prepaid expenses
Consideration to be received		$ 3,750	$ 6,750

Loans receivable (Details)

Loans receivable (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Loans receivable
Loans receivable	$ 1,708	$ 27,976
Provision for expected credit losses	0	(9,723)
Current portion	0	8,990
Loans receivable - long-term	1,708	18,986
Before provision for expected credit losses
Loans receivable
Loans receivable	1,708	37,699
Convertible Debenture - Excelsior Mining | Before provision for expected credit losses
Loans receivable
Loans receivable	1,708	1,638
Loan receivable - Elevation
Loans receivable
Loans receivable		17,700
Loan receivable - Elevation | Before provision for expected credit losses
Loans receivable
Loans receivable	0	17,731
Promissory and demand notes receivable - Elevation
Loans receivable
Loans receivable		6,500
Promissory and demand notes receivable - Elevation | Before provision for expected credit losses
Loans receivable
Loans receivable	0	6,490
Loan receivable - Nevada Copper | Before provision for expected credit losses
Loans receivable
Loans receivable	$ 0	$ 11,840

Loans receivable - Additional I

Loans receivable - Additional Information (Details) - Convertible Debenture - Excelsior Mining $ in Millions	Feb. 09, 2023 USD ($)
Loans receivable
Amount invested	$ 1.5
Interest rate (percent)	10%

Investments and prepaid gold _3

Investments and prepaid gold interests - (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Investments and prepaid gold interests
Total prepaid gold interests	$ 46,124		$ 46,124		$ 40,248
Current portion	12,839		12,839		7,699
Non-current portion	33,285		33,285		32,549
Gain (loss) as a result of changes in fair value of financial assets	3,408	$ 423	5,512	$ 2,768
Auramet
Investments and prepaid gold interests
Total prepaid gold interests	39,947		39,947		40,248
Steppe Gold
Investments and prepaid gold interests
Total prepaid gold interests	$ 6,177		$ 6,177		$ 0

Investments and prepaid gold _4

Investments and prepaid gold interests - Additional information (Details) $ in Thousands			3 Months Ended		6 Months Ended
	Mar. 15, 2024 USD ($) oz	Jan. 19, 2023 USD ($) oz	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) oz	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Investments and prepaid gold interests
Gain (loss) on change in fair value of investments			$ (1,339)	$ (1,377)	$ (1,766)	$ (69)
Payments to acquire prepaid gold interest			7,754	8,833	14,639	17,333
Investments			2,965		2,965		$ 6,248
Proceeds on sale of investments			2,847	0	$ 2,847	0
Auramet
Investments and prepaid gold interests
Ounces of gold to be received | oz		1,250			35,000
Percentage of spot gold price for each ounce of gold delivered as ongoing payments		16%
Ounces of delivered gold after which the Auramet shall have the option to terminate the stream | oz		50,000
Cash payment to be made by the Auramet to terminate the stream		$ 5,000
Steppe Gold
Investments and prepaid gold interests
Ounces of gold to be received | oz	2,650
Payments to acquire prepaid gold interest	$ 5,000
Period to deliver gold	5 months
Investments | Financial assets at fair value through profit or loss
Investments and prepaid gold interests
Gain (loss) on change in fair value of investments			(1,300)	$ (1,400)	$ (1,800)	$ (70)
Investments | Level 1
Investments and prepaid gold interests
Investments			1,400		1,400		4,700
Investments | Level 3
Investments and prepaid gold interests
Investments			$ 1,600		$ 1,600		$ 1,600

Mineral interests - (Details)

Mineral interests - (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Mineral interests
As at beginning	$ 1,773,053
As at ending	1,634,047	$ 1,773,053
Depletable mineral interest	1,035,000	1,168,000
Non-depletable mineral interest	599,000	605,000
Agbaou Royalty
Mineral interests
Consideration to acquire royalty		15,500
Cost
Mineral interests
As at beginning	2,193,414	1,567,111
Additions	3,766	629,303
Disposals	(366)	(3,000)
As at ending	2,196,814	2,193,414
Accumulated depletion and impairments
Mineral interests
As at beginning	(420,361)	(338,940)
Depletion	(35,360)	(66,137)
Impairment charges	(107,046)	(15,284)
As at ending	(562,767)	(420,361)
Mineral interests
Mineral interests
Additions	0	166,000
Disposals		0
Impairment charges	0
Non-depletable mineral interest	300,000	300,000
Mineral Streams
Mineral interests
As at beginning	1,020,664
As at ending	895,536	1,020,664
Mineral Streams | Cost
Mineral interests
As at beginning	1,357,954	1,281,254
Additions	0	76,700
Disposals	0	0
As at ending	1,357,954	1,357,954
Mineral Streams | Accumulated depletion and impairments
Mineral interests
As at beginning	(337,290)	(284,095)
Depletion	(22,520)	(44,747)
Impairment charges	(102,608)	(8,448)
As at ending	(462,418)	(337,290)
Royalties
Mineral interests
As at beginning	752,389
As at ending	738,511	752,389
Royalties | Cost
Mineral interests
As at beginning	835,460	285,857
Additions	3,766	552,603
Disposals	(366)	(3,000)
As at ending	838,860	835,460
Impairment amount	4,400
Royalties | Accumulated depletion and impairments
Mineral interests
As at beginning	(83,071)	(54,845)
Depletion	(12,840)	(21,390)
Impairment charges	(4,438)	(6,836)
As at ending	(100,349)	(83,071)
Nevada Copper | Cost
Mineral interests
Impairment amount	83,900
Moss | Cost
Mineral interests
Impairment amount	18,700
Stawell
Mineral interests
Consideration to acquire royalty		16,600
Prieska
Mineral interests
Consideration to acquire royalty	$ 3,400	3,500
Nueva Recuperada
Mineral interests
Consideration to acquire royalty		2,200
Johnson Camp Mine Royalty
Mineral interests
Consideration to acquire royalty		5,500
Renard | Mineral interest
Mineral interests
Impairment amount		8,500
Beaufor royalty | Mineral interest
Mineral interests
Impairment amount		$ 6,800

Impairment charges and expect_3

Impairment charges and expected credit losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Impairment of Streams, Royalties and other interests
Total impairment charges and expected credit losses	$ 141,771	$ 0	$ 148,034	$ 0
Nevada Copper
Impairment of Streams, Royalties and other interests
Mineral interest impairment charges	83,920		83,920
Total impairment charges and expected credit losses	0		0
Elevation Gold
Impairment of Streams, Royalties and other interests
Mineral interest impairment charges	18,688		18,688
Other
Impairment of Streams, Royalties and other interests
Mineral interest impairment charges	4,438		4,438
Loan receivable - Nevada Copper
Impairment of Streams, Royalties and other interests
Loan receivables impairment charges and expected credit losses	20,197		20,197
Loan receivable - Elevation
Impairment of Streams, Royalties and other interests
Loan receivables impairment charges and expected credit losses	$ 14,528		21,380
Other
Impairment of Streams, Royalties and other interests
Loan receivables impairment charges and expected credit losses			$ (589)

Impairment charges and expect_4

Impairment charges and expected credit losses - Nevada Copper (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Impairment of Streams, Royalties and other interests
Loans receivable	$ 1,708		$ 1,708		$ 27,976
Mineral interests	1,634,047		1,634,047		1,773,053
Impairment charge	141,771	$ 0	148,034	$ 0
Before provision for expected credit losses
Impairment of Streams, Royalties and other interests
Loans receivable	1,708		1,708		37,699
Mineral interests	2,196,814		2,196,814		2,193,414	$ 1,567,111
Nevada Copper
Impairment of Streams, Royalties and other interests
Loans receivable	$ 20,000		20,000
Impairment charge			$ 104,100
Nevada Copper stream
Impairment of Streams, Royalties and other interests
Gold and silver stream ratio	97.50%		97.50%
Mineral interests	$ 46,200		$ 46,200
Impairment charge	0		0
Loan receivable - Nevada Copper
Impairment of Streams, Royalties and other interests
Recoverable amount	0		0
Loan receivable - Nevada Copper | Before provision for expected credit losses
Impairment of Streams, Royalties and other interests
Loans receivable	0		0		$ 11,840
Tranche A 2 Secured Loan Receivable - Nevada Copper
Impairment of Streams, Royalties and other interests
Loans receivable	15,100		15,100
Unsecured Funding - Nevada Copper
Impairment of Streams, Royalties and other interests
Loans receivable	$ 4,900		$ 4,900
Pumpkin Hollow open pit project area
Impairment of Streams, Royalties and other interests
NSR royalty	2%		2%
Tedeboy exploration area
Impairment of Streams, Royalties and other interests
NSR royalty	2%		2%

Impairment charges and expect_5

Impairment charges and expected credit losses - Elevation Gold (Details) $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	Jan. 31, 2023 USD ($)	Jun. 30, 2024 USD ($) item	Mar. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) item	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Impairment of Streams, Royalties and other interests
Acquisition of loans receivables		$ 7,754		$ 8,833	$ 14,639	$ 17,333
Loans receivable		1,708			1,708		$ 27,976
Expected credit losses					0		9,723
Impairment charge		$ 141,771		$ 0	$ 148,034	$ 0
Elevation Gold
Impairment of Streams, Royalties and other interests
Loans receivable			$ 30,700
Expected credit losses			16,600				9,700
Elevation Gold
Impairment of Streams, Royalties and other interests
Mineral interest impairment charges			$ 0
Number of royalty holder filing a claim | item		1			1
Recoverable amount		$ 0			$ 0
Impairment charge					40,100
Moss
Impairment of Streams, Royalties and other interests
Silver stream acquisition (as a percent)	100%
Mineral interest impairment charges		$ 18,688			$ 18,688
Loan receivable - Elevation
Impairment of Streams, Royalties and other interests
Acquisition of loans receivables	$ 10,200
Loans receivable							17,700
Promissory and demand notes receivable - Elevation
Impairment of Streams, Royalties and other interests
Loans receivable							$ 6,500

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt
Debt - opening balance			$ 57,000	$ 0	$ 0
Drawdowns	$ 0	$ 5,000	10,000	115,000	130,000
Repayments	(40,000)	$ (20,000)	(47,000)	$ (50,000)	(73,000)
Debt - closing balance	$ 20,000		$ 20,000		$ 57,000

Debt - Additional information (

Debt - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Debt
Debt	$ 20,000		$ 20,000		$ 57,000	$ 0
Revolving credit facility
Debt
Debt	20,000		20,000		$ 57,000
Finance costs, net	$ 1,400	$ 1,300	$ 2,700	$ 2,600
Revolving credit facility | Federal Funds Effective Rate
Debt
Additional interest added to the base rate (in percent)	0.50%		0.50%
Revolving credit facility | Base rate canada | Minimum
Debt
Additional interest added to the base rate (in percent)	0.75%		0.75%		0.75%
Revolving credit facility | Base rate canada | Maximum
Debt
Additional interest added to the base rate (in percent)	1.75%		1.75%		1.75%
Revolving credit facility | SOFR loan | Minimum
Debt
Additional interest added to the base rate (in percent)	1.75%		1.75%		1.75%
Revolving credit facility | SOFR loan | Maximum
Debt
Additional interest added to the base rate (in percent)	2.75%		2.75%		2.75%

Operating expenses by nature (D

Operating expenses by nature (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating expenses by nature
Employee costs	$ 5,107	$ 3,280	$ 9,675	$ 7,223
Office, insurance and other expenses	1,454	1,389	2,785	2,643
Professional services	1,300	1,297	1,713	3,345
Total operating expenses	7,861	5,966	14,173	13,211
Share-based compensation expense	2,300	1,300	4,200	2,900
Amortization	$ 90	$ 90	$ 180	$ 180

Earnings per share - basic an_3

Earnings per share - basic and diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings per share - basic and diluted
Net (loss) earnings, Basic	$ (111,437)	$ 16,034	$ (94,013)	$ 32,568
Net (loss) earnings, Diluted	$ (111,437)	$ 16,034	$ (94,013)	$ 32,568
Weighted average shares outstanding, Basic	201,249,986	202,041,353	201,195,314	196,938,120
Weighted average shares outstanding, Diluted	201,249,986	202,383,167	201,195,314	197,133,344
(Loss) earnings per share, Basic	$ (0.55)	$ 0.08	$ (0.47)	$ 0.17
(Loss) earnings per share, Diluted	$ (0.55)	$ 0.08	$ (0.47)	$ 0.17

Shareholders' equity - Share ca

Shareholders' equity - Share capital (Details)	Jun. 30, 2024 $ / shares shares
Shareholders' equity
Number of shares outstanding | shares	201,481,707
Par value | $ / shares	$ 0

Shareholders' equity - Share _2

Shareholders' equity - Share capital, tabular (Details) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended		12 Months Ended
	Apr. 12, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Number of common shares
Issuance of shares upon exercise of warrants (in shares)	1,800,000
Exercise price	$ 9.11
Balance at ending (in shares)		201,481,707
Share Capital
Balance at beginning		$ 1,810,741	$ 1,318,479	$ 1,318,479
Exercise of stock options		(199)	493
Issuance of shares upon exercise of warrants			16,398
NCIB purchase of common shares and automatic share purchase plan ("ASPP")		4,418	(14,375)
Balance at ending		$ 1,700,876	$ 1,840,967	$ 1,810,741
Number of warrants exercised	1,800,000
Share Capital
Number of common shares
Balance at beginning (in shares)		201,353,962	155,685,593	155,685,593
Issuance of shares pursuant to the Maverix acquisition (in shares)				(45,097,390)
Exercise of stock options (in shares)		410,845	256,799	256,799
Issuance of shares upon exercise of warrants (in shares)			1,800,000	1,800,000
NCIB purchase of common shares and automatic share purchase plan ("ASPP") (in shares)		(283,100)	(911,646)	(1,485,820)
Balance at ending (in shares)		201,481,707	201,928,136	201,353,962
Share Capital
Balance at beginning		$ 1,749,180	$ 1,250,194	$ 1,250,194
Issuance of shares pursuant to the Maverix acquisition				(491,111)
Exercise of stock options		(199)	493	442
Issuance of shares upon exercise of warrants			24,336	24,336
NCIB purchase of common shares and automatic share purchase plan ("ASPP")		1,389	(7,312)	(16,903)
Balance at ending		$ 1,750,370	$ 1,758,822	$ 1,749,180

Shareholders' equity - Share _3

Shareholders' equity - Share capital - Normal Course Issuer Bid and Automatic Share Purchase Plan (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Nov. 30, 2022
Shareholders' equity
Number of shares may acquire				10,078,488
Number of shares authorized to be repurchased	10,078,488						2,000,000
Repurchase of common shares under NCIB (in shares)		0	720,440	283,100	911,646
Repurchase of common shares under NCIB		$ 0	$ 10.5	$ 3.6	$ 13.1
Number of shares authorized to be repurchased per day	26,350
Percentage of average daily trading volume of the common shares that can be repurchased	25%
Repurchase under ASPP						$ 8
Remaining number of shares authorized to be repurchased		9,623,788		9,623,788

Shareholders' equity - Dividend

Shareholders' equity - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Shareholders' equity
Dividends declared	$ 10.6	$ 10.1	$ 21.1	$ 14.8
Dividends paid	$ 10.5	$ 10.1	$ 21.1	$ 20.1
Dividends paid per share			$ 0.0525	$ 0.05
Number of shares issued from treasury	0	0	0	0

Financial instruments - Financi

Financial instruments - Financial assets and financial liabilities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Financial instruments
Provision for expected credit losses	$ 0	$ 9,723
Financial Liabilities at amortized cost
Financial instruments
Financial Liabilities at amortized cost	26,457	72,666
FVTPL
Financial instruments
FVTPL	49,089	46,496
Financial Assets at amortized cost
Financial instruments
Financial Assets at amortized cost	39,725	57,662
Cash and cash equivalents | Financial Liabilities at amortized cost
Financial instruments
Financial Liabilities at amortized cost	0	0
Cash and cash equivalents | FVTPL
Financial instruments
FVTPL	0	0
Cash and cash equivalents | Financial Assets at amortized cost
Financial instruments
Financial Assets at amortized cost	21,063	17,379
Amounts receivable (excluding value added taxes and prepaid expenses)
Financial instruments
Financial Assets at amortized cost	17,000	12,300
Amounts receivable (excluding value added taxes and prepaid expenses) | Financial Liabilities at amortized cost
Financial instruments
Financial Liabilities at amortized cost	0	0
Amounts receivable (excluding value added taxes and prepaid expenses) | FVTPL
Financial instruments
FVTPL	0	0
Amounts receivable (excluding value added taxes and prepaid expenses) | Financial Assets at amortized cost
Financial instruments
Financial Assets at amortized cost	16,954	12,307
Prepaid gold interests and investments | Financial Liabilities at amortized cost
Financial instruments
Financial Liabilities at amortized cost	0	0
Prepaid gold interests and investments | FVTPL
Financial instruments
FVTPL	49,089	46,496
Prepaid gold interests and investments | Financial Assets at amortized cost
Financial instruments
Financial Assets at amortized cost	0	0
Loans receivable
Financial instruments
Financial Assets at amortized cost	1,700	28,000
Loans receivable | Financial Liabilities at amortized cost
Financial instruments
Financial Liabilities at amortized cost	0	0
Loans receivable | FVTPL
Financial instruments
FVTPL	0	0
Loans receivable | Financial Assets at amortized cost
Financial instruments
Financial Assets at amortized cost	1,708	27,976
Amounts payable and other liabilities | Financial Liabilities at amortized cost
Financial instruments
Financial Liabilities at amortized cost	6,457	15,666
Amounts payable and other liabilities | FVTPL
Financial instruments
FVTPL	0	0
Amounts payable and other liabilities | Financial Assets at amortized cost
Financial instruments
Financial Assets at amortized cost	0	0
Debt | Financial Liabilities at amortized cost
Financial instruments
Financial Liabilities at amortized cost	20,000	57,000
Debt | FVTPL
Financial instruments
FVTPL	0	0
Debt | Financial Assets at amortized cost
Financial instruments
Financial Assets at amortized cost	$ 0	$ 0

Revenue - Total revenues (Detai

Revenue - Total revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue
Streaming Interests, Silver	$ 25,485	$ 15,696	$ 44,652	$ 36,540
Streaming Interests, Gold	23,614	20,992	43,950	39,286
Streaming Interests, Other	0	2,191	0	4,326
Royalty Interests	14,482	13,712	31,135	22,708
Revenue - other	0	0	1,372	0
Total revenues	$ 63,581	$ 52,591	$ 121,109	$ 102,860

Revenue - Stream and royalty in

Revenue - Stream and royalty interest revenues earned from mineral interests (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue
Revenue from streams	$ 49,099	$ 38,879	$ 88,602	$ 80,152
Revenues from royalties	14,482	13,712	31,135	22,708
Revenue from contracts with customers	63,581	52,591	119,737	102,860
Revenue - other	0	0	1,372	0
Total revenues	63,581	52,591	121,109	102,860
Cerro Lindo
Revenue
Revenue from streams	20,071	8,012	33,699	21,987
Northparkes
Revenue
Revenue from streams	15,479	9,006	28,488	14,195
Impala Bafokeng
Revenue
Revenue from streams	3,284	3,163	6,465	6,037
Altan Tsagaan Ovoo
Revenue
Revenue from streams	2,931	5,617	5,780	11,727
Buritica
Revenue
Revenue from streams	3,402	2,825	5,417	5,617
Fosterville
Revenue
Revenues from royalties	2,107	3,354	4,283	5,036
Young-Davidson
Revenue
Revenues from royalties	1,582	1,383	2,931	2,569
Dargues
Revenue
Revenues from royalties	1,038	1,084	2,137	1,473
Other
Revenue
Revenue from streams	0	3,525	0	7,138
Revenues from royalties	1,604	1,906	2,761	4,122
Kensington
Revenue
Revenues from royalties	562	0	5,168	0
Beta Hunt
Revenue
Revenues from royalties	3,376	2,853	5,889	4,687
Agbuao
Revenue
Revenues from royalties	928	906	1,607	906
Stawell
Revenue
Revenues from royalties	568	215	1,357	451
Moss
Revenue
Revenue from streams	0	2,952	1,076	5,946
Auramet
Revenue
Revenue from streams	2,930	2,390	5,538	4,850
Camino Rojo
Revenue
Revenues from royalties	1,434	1,050	2,791	2,039
Florida Canyon
Revenue
Revenues from royalties	1,283	961	2,211	1,425
La Colorada
Revenue
Revenue from streams	$ 1,002	$ 1,389	$ 2,139	$ 2,655

Segment disclosure (Details)

Segment disclosure (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment disclosure
Number of operating segment	1

Segment disclosure - Revenue by

Segment disclosure - Revenue by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment disclosure
Revenue	$ 63,581	$ 52,591	$ 121,109	$ 102,860
Revenue - other	0	0	1,372	0
Revenue from streams	49,099	38,879	88,602	80,152
Revenues from royalties	14,482	13,712	31,135	22,708
Australia
Segment disclosure
Revenue	23,153	16,821	43,024	26,902
Revenue from streams	15,500	9,000	28,500	14,200
Revenues from royalties	7,700	7,800	14,500	12,700
Peru
Segment disclosure
Revenue	20,223	8,165	34,066	22,290
Revenue from streams	20,100	8,000	33,700	22,000
Revenues from royalties	200	200	400	300
United States
Segment disclosure
Revenue	4,774	6,462	15,365	12,423
Revenue from streams	2,900	5,600	6,600	11,000
Revenues from royalties	1,900	900	7,500	1,400
South Africa
Segment disclosure
Revenue	3,283	3,163	6,464	6,037
Mongolia
Segment disclosure
Revenue	2,931	5,617	5,780	11,727
Mexico
Segment disclosure
Revenue	2,680	2,975	5,423	5,903
Revenue from streams	1,000	1,400	2,100	2,700
Revenues from royalties	1,700	1,600	3,300	3,200
Colombia
Segment disclosure
Revenue	3,403	2,825	5,418	5,617
Canada
Segment disclosure
Revenue	2,206	4,118	3,961	7,840
Revenue from streams	0	2,000	0	4,100
Revenues from royalties	2,200	2,100	4,000	3,800
Other
Segment disclosure
Revenue	$ 928	$ 2,445	$ 1,608	$ 4,121

Change in working capital (Deta

Change in working capital (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Change in working capital
Decrease (increase) in amounts receivable and other assets	$ 3,038	$ (222)	$ (2,855)	$ 1,528
(Increase) decrease in inventory	(1,065)	64	(742)	0
Increase (decrease) in amounts payable and other liabilities	453	(342)	129	(522)
Change in working capital	$ 2,426	$ (500)	$ (3,468)	$ 1,006

Subsequent events (Details)

Subsequent events (Details) $ in Millions	Aug. 07, 2024 USD ($) oz	Jul. 05, 2024 USD ($)	Jul. 05, 2024 $ / shares shares
Acquisition of an additional NSR royalty | Tamarack Nickel Project
Subsequent events
Percentage of NSR		1%
Payments for acquisition of net smelter returns ("NSR") royalty | $		$ 8
Common share purchase warrants | shares			8,000,000
Number of exercisable to acquire shares | shares			1
Exercise price | $ / shares			$ 0.20
Exercise term			2 years
Additional tamarack royalty | $		$ 5
Additional tamarack royalty term			2 years
Percentage of Pre-existing NSR royalty		1.11%
Maximum allowed percentage of the NSR royalty that can be bought down			0.60%
Major purchases of assets | Agbaou and Bonikro | Allied Gold Corp.
Subsequent events
Percentage Of gold stream acquired	3%
Total cash consideration | $	$ 53
Percentage of spot gold price for each ounce of gold delivered	10%
Major purchases of assets | Agbaou stream | Agbaou and Bonikro | Allied Gold Corp.
Subsequent events
Reduced percentage Of gold stream after delivery of specified ounce of gold	2%
Ounces Of delivered gold after which gold stream will step down	29,000
Major purchases of assets | Agbaou stream | Agbaou Royalty | Allied Gold Corp. | Minimum
Subsequent events
Gold stream annual minimum deliveries	2,500
Major purchases of assets | Agbaou stream | Agbaou Royalty | Allied Gold Corp. | Maximum
Subsequent events
Gold stream annual minimum deliveries	2,750
Major purchases of assets | Bonikro stream | Agbaou and Bonikro | Allied Gold Corp.
Subsequent events
Reduced percentage Of gold stream after delivery of specified ounce of gold	2%
Ounces Of delivered gold after which gold stream will step down	39,300
Major purchases of assets | Bonikro stream | Agbaou and Bonikro | Allied Gold Corp. | Minimum
Subsequent events
Gold stream annual minimum deliveries	3,500
Major purchases of assets | Bonikro stream | Agbaou and Bonikro | Allied Gold Corp. | Maximum
Subsequent events
Gold stream annual minimum deliveries	4,250