OPERATING SEGMENTS | OPERATING SEGMENTS The Company currently has four producing mines which represent the Company’s reportable and operating segments. The results of operating segments are reviewed by the Company's chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segments and to assess their performance. All operations at Çöpler ceased on February 13, 2024, following the Çöpler Incident. On August 21, 2024, the Company suspended operations at Seabee due to forest fires in the vicinity of the mine. Seabee successfully restarted mining operations on October 11, 2024. The following tables provide a summary of financial information related to the Company's segments (in thousands): Three Months Ended September 30, 2024 Çöpler (1) Marigold Seabee Puna Segment Total Corporate and other (2) Consolidated Revenue $ 11,804 $ 119,908 $ 27,897 $ 97,747 $ 257,356 $ — $ 257,356 Cost of sales (3) $ 5,047 $ 74,106 $ 14,404 $ 44,724 $ 138,281 $ — $ 138,281 Depreciation, depletion, and amortization $ 2,706 $ 10,637 $ 7,659 $ 9,441 $ 30,443 $ — $ 30,443 Exploration and evaluation $ 52 $ 2,252 $ 4,132 $ 2,945 $ 9,381 $ 1,983 $ 11,364 Care and maintenance expenses (4) $ 29,763 $ — $ 9,611 $ — $ 39,374 $ — $ 39,374 Operating income (loss) $ (32,721) $ 31,738 $ (8,611) $ 39,772 $ 30,178 $ (21,141) $ 9,037 Capital expenditures $ 1,468 $ 11,057 $ 3,317 $ 4,928 $ 20,770 $ 10,940 $ 31,710 Total assets as of September 30, 2024 $ 2,724,079 $ 813,622 $ 368,662 $ 295,788 $ 4,202,151 $ 941,768 $ 5,143,919 (1) During the three months ended September 30, 2024, Çöpler produced and sold inventory that was in-circuit prior to the Çöpler Incident. (2) Corporate and other consists of business activities that are not included within the reportable segments and is provided for reconciliation purposes. The exploration, evaluation and development properties and the portfolio of prospective exploration tenures, near or adjacent to the existing operations (near-mine) are included in the respective reportable segment. The greenfield standalone prospects and development projects are included in Corporate and other. (3) Excludes depreciation, depletion, and amortization. (4) Care and maintenance expense represents the following: 1) direct costs not associated with the environmental reclamation and remediation costs of $16.5 million and depreciation of $13.3 million during the suspension of operations at Çöpler starting in the first quarter of 2024; and 2) direct costs of $7.7 million and depreciation of $1.9 million during the suspension of operations at Seabee during the third quarter of 2024. Three Months Ended September 30, 2023 Çöpler Marigold Seabee Puna Segment Total Corporate and other (1) Consolidated Revenue $ 114,462 $ 158,620 $ 36,625 $ 75,683 $ 385,390 $ — $ 385,390 Cost of sales (2) $ 69,830 $ 81,464 $ 19,939 $ 43,437 $ 214,670 $ — $ 214,670 Depreciation, depletion, and amortization $ 25,600 $ 13,505 $ 9,015 $ 7,870 $ 55,990 $ — $ 55,990 Exploration and evaluation $ 1,297 $ 132 $ 4,619 $ 3,889 $ 9,937 $ 4,949 $ 14,886 Operating income (loss) $ 15,274 $ 59,463 $ 2,763 $ 17,040 $ 94,540 $ (17,075) $ 77,465 Capital expenditures $ 26,979 $ 13,259 $ 8,579 $ 5,422 $ 54,239 $ — $ 54,239 Total assets as of September 30, 2023 $ 3,258,055 $ 775,957 $ 526,813 $ 314,901 $ 4,875,726 $ 873,934 $ 5,749,660 (1) Corporate and other consists of business activities that are not included within the reportable segments and is provided for reconciliation purposes. (2) Excludes depreciation, depletion, and amortization. Nine Months Ended September 30, 2024 Çöpler Marigold Seabee Puna Segment Total Corporate and other (1) Consolidated Revenue $ 60,376 $ 257,465 $ 122,411 $ 232,179 $ 672,431 $ — $ 672,431 Cost of sales (2) $ 29,471 $ 162,414 $ 56,111 $ 112,768 $ 360,764 $ — $ 360,764 Depreciation, depletion, and amortization $ 12,537 $ 23,821 $ 32,349 $ 23,145 $ 91,852 $ — $ 91,852 Exploration and evaluation $ 1,124 $ 10,318 $ 12,868 $ 3,945 $ 28,255 $ 4,595 $ 32,850 Care and maintenance expenses (3) $ 74,728 $ — $ 9,611 $ — $ 84,339 $ — $ 84,339 Operating income (loss) $ (470,245) $ 57,837 $ 10,095 $ 89,025 $ (313,288) $ (43,379) $ (356,667) Capital expenditures $ 11,596 $ 26,584 $ 26,209 $ 11,837 $ 76,226 $ 28,054 $ 104,280 Total assets as of September 30, 2024 $ 2,724,079 $ 813,622 $ 368,662 $ 295,788 $ 4,202,151 $ 941,768 $ 5,143,919 (1) Corporate and other consists of business activities that are not included within the reportable segments and is provided for reconciliation purposes. (2) Excludes depreciation, depletion, and amortization. (3) Care and maintenance expense represents: 1) direct costs not associated with the environmental reclamation and remediation costs of $41.5 million and depreciation of $33.2 million during the suspension of operations at Çöpler starting in the first quarter of 2024; and 2) direct costs of $7.7 million and depreciation of $1.9 million during the suspension of operations at Seabee during the third quarter of 2024. Nine Months Ended September 30, 2023 Çöpler Marigold Seabee Puna Segment Total Corporate and other (1) Consolidated Revenue $ 322,831 $ 374,594 $ 98,776 $ 204,829 $ 1,001,030 $ — $ 1,001,030 Cost of sales (2) $ 199,425 $ 199,970 $ 61,476 $ 123,736 $ 584,607 $ — $ 584,607 Depreciation, depletion, and amortization $ 68,350 $ 32,062 $ 26,362 $ 20,953 $ 147,727 $ — $ 147,727 Exploration and evaluation $ 3,165 $ 847 $ 13,763 $ 7,260 $ 25,035 $ 14,351 $ 39,386 Operating income (loss) $ 46,514 $ 130,800 $ (3,694) $ 47,815 $ 221,435 $ (54,056) $ 167,379 Capital expenditures $ 50,767 $ 76,528 $ 29,051 $ 9,900 $ 166,246 $ — $ 166,246 Total assets as of September 30, 2023 $ 3,258,055 $ 775,957 $ 526,813 $ 314,901 $ 4,875,726 $ 873,934 $ 5,749,660 (1) Corporate and other consists of business activities that are not included within the reportable segments and provided for reconciliation purposes. (2) Excludes depreciation, depletion, and amortization. |