Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2022 shares | |
Document Information [Line Items] | |
Entity Registrant Name | Sandstorm Gold Ltd. |
Entity Central Index Key | 0001434614 |
Document Type | 40-F |
Document Period End Date | Dec. 31, 2022 |
Document Fiscal Year Focus | 2022 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Period Focus | FY |
Title of 12(b) Security | Common Shares, no par value |
Trading Symbol | SAND |
Security Exchange Name | NYSE |
Entity Current Reporting Status | Yes |
Entity Emerging Growth Company | false |
Entity Incorporation, State or Country Code | A1 |
Entity Interactive Data Current | Yes |
Entity Common Stock, Shares Outstanding | 298,843,661 |
Entity File Number | 001-35617 |
Entity Address, Address Line One | Suite 1400 |
Entity Address, Address Line Two | 400 Burrard Street |
Entity Address, City or Town | Vancouver |
Entity Address, State or Province | BC |
Entity Address, Country | CA |
Entity Address, Postal Zip Code | V6C 3A6 |
City Area Code | 604 |
Local Phone Number | 628-1107 |
Document Registration Statement | false |
Document Annual Report | true |
Annual Information Form | true |
Audited Annual Financial Statements | true |
ICFR Auditor Attestation Flag | true |
Auditor Name | PricewaterhouseCoopers LLP |
Auditor Firm ID | 271 |
Auditor Location | Vancouver, British Columbia, Canada |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | C T Corporation System |
Entity Address, Address Line One | 111 Eighth Avenue |
Entity Address, City or Town | New York |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 10011 |
City Area Code | 212 |
Local Phone Number | 590-9070 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Current | ||
Cash and cash equivalents | $ 7,029 | $ 16,166 |
Trade and other receivables | 21,394 | 12,144 |
Short-term investments | 3,773 | 5,001 |
Other current assets | 531 | 293 |
Total current assets | 32,727 | 33,604 |
Non-Current | ||
Stream, royalty and other interests | 1,781,256 | 473,651 |
Investments in associates | 27,265 | 84,589 |
Investments | 126,117 | 24,056 |
Other long-term assets | 7,412 | 4,958 |
Total assets | 1,974,777 | 620,858 |
Current | ||
Trade and other payables | 19,041 | 7,347 |
Non-Current | ||
Bank debt | 497,500 | 0 |
Deferred income tax liabilities | 14,784 | 18,294 |
Lease liabilities and other | 2,047 | 2,579 |
Total liabilities | 533,372 | 28,220 |
— EQUITY | ||
Share capital | 1,318,622 | 694,675 |
Reserves | 24,647 | 18,903 |
Retained earnings | 98,921 | 35,569 |
Accumulated other comprehensive loss | (27,490) | (156,509) |
Equity attributable to Sandstorm Gold Ltd.'s shareholders | 1,414,700 | 592,638 |
Non-controlling interests | 26,705 | |
Total liabilities and equity | $ 1,974,777 | $ 620,858 |
Consolidated Statements of Inco
Consolidated Statements of Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Statement [Line Items] | ||
Total revenue | $ 148,732 | $ 114,860 |
Cost of sales, excluding depletion | 23,366 | 16,845 |
Depletion | 59,780 | 35,704 |
Total cost of sales | 83,146 | 52,549 |
Gross profit | 65,586 | 62,311 |
Expenses and other (income) | ||
Administration expenses | 13,394 | 10,198 |
Project evaluation | 7,434 | 7,770 |
Gain on disposal of stream, royalty and other interests | (25,833) | 0 |
Gain on disposal of investments in associates | (37,396) | 0 |
Gain on revaluation of Vale Royalties financial instrument | 0 | (5,887) |
(Gain) loss on revaluation of investments | (1,756) | 1,659 |
Share of net loss of associates | 3,654 | 943 |
Stream, royalty and other interests impairments | 1,086 | 408 |
Finance expense | 17,286 | 2,135 |
Finance income | (809) | (481) |
Foreign exchange loss | 790 | 645 |
Other | (33) | 68 |
Income before taxes | 87,769 | 44,853 |
Current income tax expense | 5,261 | 3,029 |
Deferred income tax expense | 4,058 | 14,202 |
Income tax expense | 9,319 | 17,231 |
Sandstorm Gold Ltd.'s shareholders | 78,361 | 27,622 |
Non-controlling interests | 89 | 0 |
Net income for the year | $ 78,450 | $ 27,622 |
Earnings per share attributable to Sandstorm Gold Ltd.'s shareholders: | ||
Basic earnings per share | $ 0.34 | $ 0.14 |
Diluted earnings per share | $ 0.33 | $ 0.14 |
Weighted average number of common shares outstanding | ||
Basic | 231,348,386 | 193,974,313 |
Diluted | 234,318,180 | 197,823,480 |
Sales [member] | ||
Statement [Line Items] | ||
Total revenue | $ 97,815 | $ 71,722 |
Royalty revenue [member] | ||
Statement [Line Items] | ||
Total revenue | $ 50,917 | $ 43,138 |
Consolidated Statements of In_2
Consolidated Statements of Income (Loss) (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Profit or loss [abstract] | ||
Equity settled share-based compensation (a non-cash item) is included in administration expenses and project evaluation | $ 6,101 | $ 6,002 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of comprehensive income [abstract] | ||
Net income for the year | $ 78,450 | $ 27,622 |
Items that have been or may subsequently be reclassified to net income: | ||
Currency translation differences | (12,900) | (34,541) |
Currency translation differences reclassified to net income | 149,473 | 0 |
Items that will not subsequently be reclassified to net income: | ||
Loss on FVTOCI investments and other | (8,450) | (11,847) |
Tax recovery on FVTOCI investments | 896 | 1,320 |
Total other comprehensive income (loss) for the year | 129,019 | (45,068) |
Total comprehensive income (loss) for the year | $ 207,469 | $ (17,446) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flow - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
— OPERATING ACTIVITIES | ||
Net income for the year | $ 78,450 | $ 27,622 |
Items not affecting cash: | ||
Depletion and depreciation | 60,239 | 36,177 |
Gain on disposal of investments in associate | (37,396) | 0 |
Gain on disposal of stream, royalty and other interests | (25,833) | 0 |
Interest expense and financing amortization | 17,193 | 2,072 |
Share-based payments | 6,101 | 6,002 |
Deferred income tax expense | 4,058 | 14,202 |
(Gain) loss on revaluation of investments | (1,756) | 1,659 |
Share of net loss of associates | 3,654 | 943 |
Stream, royalty and other interests impairments | 1,086 | 408 |
Unrealized foreign exchange loss | 765 | 589 |
Gain on revaluation of Vale Royalties financial instrument | 0 | (5,887) |
Other | 3,245 | (307) |
Changes in non-cash working capital | (2,890) | (2,341) |
Cash flow from (used in) operating activities | 106,916 | 81,139 |
— INVESTING ACTIVITIES | ||
Acquisition of stream, royalty, and other interests | (620,790) | (152,697) |
Proceeds from disposal of stream, royalty and other interests | 38,113 | 0 |
Proceeds from disposal of investments and other | 7,255 | 22,362 |
Acquisition of investments and other assets | (33,432) | (13,018) |
Investment in Hod Maden interest | (3,818) | (559) |
Cash flow from (used in) investing activities | (612,672) | (143,912) |
— FINANCING ACTIVITIES | ||
Bank debt drawn | 653,122 | 0 |
Bank debt repaid | (212,372) | 0 |
Proceeds from issuance of common shares net of financing costs | 86,031 | 0 |
Interest paid | (15,159) | (1,169) |
Dividends paid | (13,637) | 0 |
Redemption of common shares (normal course issuer bid) and other | (421) | (33,051) |
Cash flow from (used in) financing activities | 497,564 | (34,220) |
Effect of exchange rate changes on cash and cash equivalents | (945) | (617) |
Net decrease in cash and cash equivalents | (9,137) | (97,610) |
Cash and cash equivalents — beginning of the year | 16,166 | 113,776 |
Cash and cash equivalents — end of the year | $ 7,029 | $ 16,166 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity $ in Thousands | USD ($) | Share Capital [member] USD ($) shares | Reserves Share Options, Warrants and Restricted Share Rights [member] USD ($) | Retained Earnings [member] USD ($) | Accumulated Other Comprehensive Loss [member] USD ($) | Total equity attributable to Sandstorm Gold Ltd.'s shareholders [member] USD ($) | Non-controlling interests [member] USD ($) |
Equity at beginning of period at Dec. 31, 2020 | $ 638,142 | $ 719,730 | $ 18,902 | $ 10,951 | $ (111,441) | $ 638,142 | $ 0 |
Equity, shares, beginning at Dec. 31, 2020 | shares | 195,253,243 | ||||||
Options exercised | 3,340 | $ 4,386 | (1,046) | 3,340 | |||
Options exercised, shares | shares | 855,761 | ||||||
Vesting of restricted share rights | $ 4,955 | (4,955) | |||||
Vesting of restricted share rights, shares | shares | 995,865 | ||||||
Acquisition and cancellation of common shares (normal course issuer bid) | (34,173) | $ (34,173) | (34,173) | ||||
Acquisition and cancellation of common shares (normal course issuer bid), shares | shares | (5,451,415) | ||||||
Share-based payments | 6,002 | 6,002 | 6,002 | ||||
Share issuance costs | (223) | $ (223) | (223) | ||||
Dividends declared | (3,004) | (3,004) | (3,004) | ||||
Total comprehensive income (loss) | (17,446) | 27,622 | (45,068) | (17,446) | |||
Equity at end of period at Dec. 31, 2021 | 592,638 | $ 694,675 | 18,903 | 35,569 | (156,509) | 592,638 | 0 |
Equity, shares, ending at Dec. 31, 2021 | shares | 191,653,454 | ||||||
Shares issued for Nomad Royalty acquisition | 454,089 | $ 454,089 | 454,089 | 0 | |||
Shares issued for Nomad Royalty acquisition, shares | shares | 74,382,930 | ||||||
Shares issued for BaseCore acquisition | 75,304 | $ 75,304 | 75,304 | ||||
Shares issued for BaseCore acquisition, shares | shares | 13,495,276 | ||||||
Shares issued in equity financing | 92,081 | $ 92,081 | 92,081 | ||||
Shares issued in equity financing, shares | shares | 18,055,000 | ||||||
Warrants and options issued for Nomad Royalty acquisition | 2,776 | 2,776 | 2,776 | ||||
Options exercised | 4,694 | $ 6,124 | (1,430) | 4,694 | |||
Options exercised, shares | shares | 1,130,218 | ||||||
Warrants exercised | 5 | $ 5 | 0 | 5 | |||
Warrants exercised, shares | shares | 484 | ||||||
Vesting of restricted share rights | $ 1,703 | (1,703) | |||||
Vesting of restricted share rights, shares | shares | 314,100 | ||||||
Acquisition of CMC non-controlling interest | 27,568 | 27,568 | |||||
Acquisition and cancellation of common shares (normal course issuer bid) | (940) | $ (940) | (940) | ||||
Acquisition and cancellation of common shares (normal course issuer bid), shares | shares | (187,801) | ||||||
Share-based payments | 6,101 | 6,101 | 6,101 | ||||
Share issuance costs | (4,419) | $ (4,419) | (4,419) | ||||
Dividends declared | (15,961) | (15,009) | (15,009) | (952) | |||
Total comprehensive income (loss) | 207,469 | 78,361 | 129,019 | 207,380 | 89 | ||
Equity at end of period at Dec. 31, 2022 | $ 1,441,405 | $ 1,318,622 | $ 24,647 | $ 98,921 | $ (27,490) | $ 1,414,700 | $ 26,705 |
Equity, shares, ending at Dec. 31, 2022 | shares | 298,843,661 |
Nature of Operations
Nature of Operations | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Nature of Operations | 1 – Nature of Operations Sandstorm Gold Ltd. was incorporated under the Business Corporations Act of British Columbia on March 23, 2007. Sandstorm Gold Ltd. and its subsidiary entities (collectively “Sandstorm”, “Sandstorm Gold” or the “Company”) is a resource-based company that seeks to acquire gold and other metals purchase agreements (“Gold Streams” or “Streams”) and royalties from companies that have advanced stage development projects or operating mines. In return for making an upfront payment to acquire a Stream or royalty, Sandstorm receives the right to purchase, at a fixed price per unit or at a fixed percentage of the spot price, a percentage of a mine’s production for the life of the mine (in the case of a Stream) or a portion of the revenue generated from the mine (in the case of a royalty). The head office, principal address and registered office of the Company are located at Suite 1400, 400 Burrard Street, Vancouver, British Columbia, V6C 3A6. These consolidated financial statements were authorized for issue by the Board of Directors of the Company on February 21, 2023. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Summary of Significant Accounting Policies | 2 – Summary of Significant Accounting Policies A. Statement of Compliance These consolidated financial statements, including comparatives, have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). B. Basis of Presentation These consolidated financial statements have been prepared on a historical cost basis except for certain financial instruments, which are measured at fair value. The consolidated financial statements are presented in United States dollars, and all values are rounded to the nearest thousand except as otherwise indicated. C. Principles of Consolidation These consolidated financial statements include the accounts of the Company and its subsidiaries which are wholly owned: Sandstorm Gold (Canada) Ltd., Bridgeport Gold Inc., Inversiones Mineras Australes Holdings (BVI) Inc., Inversiones Mineras Australes S.A., Premier Royalty U.S.A. Inc., SA Targeted Investing Corp., Sandstorm Metals & Energy (US) Inc., 1359212 B.C. Ltd. and Nomad Royalty Company Ltd. Subsidiaries are fully consolidated from the date the Company obtains control and continue to be consolidated until the date that control ceases. These consolidated financial statements also include the accounts of the Company’s 67.5% interest in Compañia Minera Caserones (“CMC”). The non-controlling interest related to this entity has been recorded in equity. Sandstorm consolidates the results of CMC on a 100% basis, with the proportionate share of net income (loss) and comprehensive (loss) attributable to owners of the Company and non-controlling interest presented separately. Control is achieved when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. All intercompany balances, transactions, revenues and expenses have been eliminated on consolidation. D. Investments in Associates An associate is an entity over which the Company has significant influence and is neither a subsidiary nor a joint arrangement. The Company has significant influence when it has the power to participate in the financial and operating policy decisions of the associate but does not have control or joint control over those policies. The Company accounts for its investments in associates using the equity method. Under the equity method, the Company’s investments in associates are initially recognized at cost when acquired and subsequently increased or decreased to recognize the Company’s share of net income and losses of the associate, after any adjustments necessary to give effect to uniform accounting policies, any other movement in the associate’s reserves, and for impairment losses after the initial recognition date. The Company’s share of income and losses of the associate is recognized in net income during the period. Dividends received from the associate are accounted for as a reduction in the carrying amount of the Company’s investment. E Goodwill The Company allocates goodwill arising from business combinations to each cash-generating unit or group of cash-generating units that are expected to receive the benefits from the business combination. Irrespective of any indication of impairment, the recoverable amount of the cash-generating unit or group of cash-generating units to which goodwill has been allocated is tested annually for impairment and when there is an indication that the goodwill may be impaired. Any impairment is recognized as an expense immediately. Any impairment of goodwill is not subsequently reversed. F. Stream, Royalty and Other Interests Stream, royalty and other interests consist of acquired royalty and Stream metal purchase agreements. These interests are recorded at cost and capitalized as long term tangible assets with finite lives. They are subsequently measured at cost less accumulated depletion and accumulated impairment losses, if any. Project evaluation costs that are not related to a specific agreement are expensed in the period incurred. Stream, royalty and other interests related to producing mines are depleted using the units-of-production On acquisition of a Stream, royalty or other interest, an allocation of its cost may be attributed to the exploration potential of the interest and is recorded as a non-depletable 6, Exploration and Evaluation of Mineral Resources and is not depleted until such time as the technical feasibility and commercial viability have been established at which point the value of the asset is accounted for by reference to IAS 16, Property, Plant and Equipment. G. Impairment of Stream, Royalty and Other Interests Evaluation of the carrying values of each Stream, royalty and other interest is undertaken when events or changes in circumstances indicate that the carrying values may not be recoverable and at each reporting period. If any indication of impairment exists, the recoverable amount is estimated to determine the extent of any impairment loss. The recoverable amount is the higher of the fair value less costs of disposal and value in use. Fair value is the price that would be received from selling an asset in an orderly transaction between market participants at the measurement date. Costs of disposal are incremental costs directly attributable to the disposal of an asset. Fair value less costs of disposal is usually estimated using a discounted cash flow approach. Estimated future cash flows are calculated using estimated production, sales prices, and a discount rate. Estimated production is determined using current Reserves and the portion of Resources expected to be classified as Mineral Reserves as well as exploration potential expected to be converted into Resources. Estimated sales prices are determined by reference to a long-term metal price forecasts by analysts and management’s expectations. The discount rate is estimated using a discount rate incorporating analyst views and management’s expectations to value precious metal royalty companies. Value in use is determined as the present value of future cash flows expected to be derived from continuing use of an asset in its present form for those assets where value in use exceeds fair value less costs of disposal. If it is determined that the recoverable amount is less than the carrying value, then an impairment is recognized within net income (loss) immediately. An assessment is made at each reporting period if there is any indication that a previous impairment loss may no longer exist or has decreased. If any indications are present, the carrying amount of the Stream, royalty and other interest is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount net of depletion that would have been determined had no impairment loss been recognized for the Stream, royalty and other interest in previous periods. H. Revenue Recognition Revenue is comprised of revenue earned in the period from contracts with customers under each of its royalty and Stream interests. The Company has determined that each unit of a commodity that is delivered to a customer under a royalty and Stream interest is a performance obligation for the delivery of a good that is separate from each other unit of the commodity to be delivered under the same arrangement. In accordance with IFRS 15, the Company recognizes revenue to depict the transfer of the relevant commodity to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those commodities. For Stream interests, revenue recognition occurs when the relevant commodity received from the Stream operator is transferred by the Company to its third-party customers. For royalty interests, revenue recognition occurs when the relevant commodity is transferred to the end customer by the operator of the royalty property. Revenue is measured at the fair value of the consideration received or receivable when management can reliably estimate the amount, pursuant to the terms of the royalty agreement. In some instances, the Company will not have access to sufficient information to make a reasonable estimate of consideration to which it expects to be entitled and, accordingly, revenue recognition is deferred until management can make a reasonable estimate. Differences between estimates and actual amounts are adjusted and recorded in the period that the actual amounts are k nown. I Foreign Currency Translation The functional currency of the Company and its subsidiaries is the principal currency of the economic environment in which they operate. For the Company and its subsidiaries Sandstorm Gold (Canada) Ltd., Bridgeport Gold Inc., Inversiones Mineras Australes Holdings (BVI) Inc., Inversiones Mineras Australes S.A., Premier Royalty U.S.A. Inc., SA Targeted Investing Corp., Sandstorm Metals & Energy (US) Inc., 1359212 B.C. Ltd., the Nomad Royalty Company Ltd. and the Company’s Sandbox Royalty Corp. investment in associate, the functional currency is the U.S. dollar. For the Company’s Horizon Copper Corp. investment in associate, the functional currency is the Canadian dollar. Transactions in foreign currencies are initially recorded in the entity’s functional currency as the rate on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the closing rate as at the reporting date. Effective April 1, 2022, the Company reassessed the functional currency of the associate which holds the Hod Maden interest. The assessment was triggered by the forecasted expenditures of the associate, the currency driving those expenditures and the underlying transactions, events, and conditions of the entity. As a result of that assessment, it was determined the functional currency had changed from Turkish Lira to U.S. dollars. As a consequence, the depreciation or appreciation of the Turkish Lira, which was the functional currency of the entity that holds the Hod Maden Interest, relative to the U.S. dollar, which is the presentation currency of Sandstorm Gold Ltd. did not have a material impact on the recognition of currency translations adjustments in other comprehensive income during the period affected by this change. In accordance with the standard, the change in functional currency was applied prospectively. Prior to April 1, 2022, the functional currency of the Company’s Hod Maden interest in associate was the Turkish Lira. To translate the Hod Maden interest to the presentation currency of the U.S. dollar, all assets and liabilities were translated using the exchange rate as of the reporting date and all income and expenses were translated using the average exchange rates during the period. All resulting exchange differences were recognized in other comprehensive income (loss). In August 2022, the Company disposed of its Hod Maden interest. On disposal, the cumulative amount of the translation differences previously recognized in other comprehensive income were reclassified to net income as a reclassification adjustment. J Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, trade receivables and other, short and long-term investments, loans receivable, trade and other payables and bank debt. All financial instruments are initially recorded at fair value and designated as follows: Cash and cash equivalents, trade receivables and other, and loans receivable are classified as financial assets at amortized cost and trade and other payables and bank debt are classified as financial liabilities at amortized cost. Both financial assets at amortized cost and financial liabilities at amortized cost are measured at amortized cost using the effective interest method. The Company’s financial assets which are subject to credit risk include cash and cash equivalents, trade receivables and other and loans receivable. At December 31, 2021 and December 31, 2022, the Company determined that the expected credit losses on its financial assets were nominal. Ther e were no material impairment losses recognized on financial assets during the years ended December 31, 2022 and December 31, 2021. Investments in common shares are held for long-term strategic purposes and not for trading. The Company has made an irrevocable election to designate all these investments as fair value through other comprehensive income (“FVTOCI”) in order to provide a more meaningful presentation based on management’s intention, rather than reflecting changes in fair value in net income. Such investments are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement Investments in warrants and convertible debt instruments are classified as fair value through profit or loss (“FVTPL”). These warrants and convertible debt instruments are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement Transaction costs on initial recognition of financial instruments classified as FVTPL are expensed as incurred. Transaction costs incurred on initial recognition of financial instruments classified as loans and receivables, FVTOCI and other financial liabilities are recognized at their fair value amount and offset against the related loans and receivables or capitalized when appropriate. Financial assets are derecognized when the contractual rights to the cash flows from the asset expire. Financial liabilities are derecognized only when the Company’s obligations are discharged, cancelled or they expire. On derecognition, the difference between the carrying amount (measured at the date of derecognition) and the consideration received (including any new asset obtained less any new liability obtained) is recognized in profit or loss. In August 2020, the International Accounting Standards Board issued Interest Rate Benchmark Reform – Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) (“IBOR Amendments”), which is applied to potential changes in contractual cash flows of a financial asset or financial liability as a result of replacing an interest rate benchmark with an alternative benchmark rate. The Company has adopted the IBOR Amendments retrospectively. The new standard did not have a material impact on the Company’s consolidated financial statements. K Inventory When refined gold or the applicable commodity, under the Stream agreement, is delivered to the Compan interest. L Cash and Cash Equivalents Cash and cas value. M. Income Taxes Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used are those that are substantively enacted at the reporting date. Deferred income taxes are provided for using the liability method on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for accounting. The change in the net deferred income tax asset or liability is included in income except for deferred income tax relating to equity items which is recognized directly in equity, and relating to investments in common shares designated as FVTOCI which is recognized in other comprehensive income. The income tax effects of differences in the periods when revenue and expenses are recognized in accordance with Company accounting practices, and the periods they are recognized for income tax purposes are reflected as deferred income tax assets or liabilities. Deferred income tax assets and liabilities are measured using the substantively enacted statutory income tax rates which are expected to apply to taxable income in the years in which the assets are realized or the liabilities settled. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available for utilization. Temporary differences are not provided for the initial recognition of assets or liabilities that affect neither accounting nor taxable earnings. Deferred income tax assets and liabilities are offset only if a legally enforceable right exists to offset current tax assets against liabilities and the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on the same taxable entity and are intended to be settled on a net basis. The determination of current and deferred taxes requires interpretations of tax legislation, estimates of expected timing of reversal of deferred tax assets and liabilities, and estimates of future earnings. N. Share Capital and Share Purchase Warrants The proceeds from the issue of units are allocated between common shares and share purchase warrants (with an exercise price denominated in U.S. dollars) on a pro-rata O. Earnings Per Share Basic earnings per share is computed by dividing the net income available to Sandstorm common shareholders by the weighted average number of common shares issued and outstanding during the period. Diluted earnings per share is calculated assuming that outstanding share options and share purchase warrants, with an average market price that exceeds the average exercise prices of the options and warrants for the year, are exercised and the proceeds are used to repurchase shares of the Company at the average market price of the common shares for the year. P. Share Based Payments The Company recognizes share based compensation expense for all share purchase options and restricted share rights (“RSRs”) awarded to employees, officers and directors based on the fair values of the share purchase options and RSRs at the date of grant. The fair values of share purchase options and RSRs at the date of grant are expensed over the vesting periods of the share purchase options and RSRs, respectively, with a corresponding increase to equity. The fair value of share purchase options is determined using the BSM with market related inputs as of the date of grant. Share purchase options with graded vesting schedules are accounted for as separate grants with different vesting periods and fair values. The fair value of RSRs is the market value of the underlying shares at the date of grant. At the end of each reporting period, the Company re-assesses The BSM requires management to estimate the expected volatility and expected term of the equity instrument, the risk-free rate of return over the term, expected dividends, and the number of equity instruments expected to ultimately vest. The Company uses its competitors market data with respect to expected volatility and expected dividend yield to the extent these factors are indicative of the Company’s future expectations. The expected term is estimated using historical exercise data, and the number of equity instruments expected to vest is estimated using historical forfeiture data. Q. Related Party Transactions Parties are considered related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party. Parties are also considered related if they are subject to common control or significant influence. A transaction is considered a related party transaction when there is a transfer of resources or obligations between related parties. R. Segment Reporting An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses. The Company’s operating segments are components of the Company’s business for which discrete financial information is available and which are reviewed regularly by the Company’s Chief Executive Officer to make decisions about resources to be allocated to the segment and assess its performance. S. Leases Upon lease commencement, the Company recognizes a right-of-use asset, which is initially measured at the amount of the lease liability plus any direct costs incurred, which is then amortized over the life of the lease on a straight-line basis. The lease liability is initially measured at the present value of the lease payments payable over the lease term, discounted at the rate implicit in the lease; if the implicit lease rate cannot be determined, the incremental borrowing rate is used. Payments against the lease are then offset against the lease liability. The lease liability and right-of-use asset are subsequently re-measured to reflect changes to the terms of the lease. Assets and liabilities are recognized for all leases unless the lease term is twelve months or less or the underlying asset has a low value. T. Non-controlling During the year ended December 31, 2022, the Company acquired a 67.5% interest in Compañia Minera Caserones (“CMC”), which holds the Caserones Royalty. The non-controlling interest related to this entity has been recorded in equity. Sandstorm consolidates the results of CMC on a 100% basis, with the proportionate share of net income (loss) and comprehensive income (loss) attributable to owners of the Company and non-controlling interest presented separately. Non-controlling Non-controlling non-controlling |
Key Sources of Estimation Uncer
Key Sources of Estimation Uncertainty and Critical Accounting Judgments | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Key Sources of Estimation Uncertainty and Critical Accounting Judgments | 3 – Key Sources of Estimation Uncertainty and Critical Accounting Judgments The preparation of the Company’s consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities and contingent liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continuously evaluated and are based on management’s experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. However, actual outcomes can differ from these estimates. Information about significant sources of estimation uncertainty and judgments made by management in preparing the consolidated financial statements are described below. A. Attributable Reserve and Resource Estimates Stream, royalty and other interests are a significant class of assets of the Company, with a carrying value of $1,781.3 million at December 31, 2022 (2021 — $473.7 million). This amount represents the capitalized expenditures related to the acquisition of the Stream, royalty and other interests net of accumulated depletion and any impairments. The Company estimates the Reserves and Resources relating to each interest. Management estimates Mineral Reserves and Resources based on information compiled by appropriately qualified persons. Reserves and Resources are estimates of the amount of minerals that can be economically and legally extracted from the mining properties at which the Company has Stream and royalty interests, adjusted where applicable to reflect the Company’s percentage entitlement to minerals produced from such mines. The public disclosures of Reserves and Resources that are released by the operators of the interests involve assessments of geological and geophysical studies and economic data and the reliance on a number of assumptions, including commodity prices and production costs. The estimates of Reserves and Resources may change based on additional knowledge gained subsequent to the initial assessment. Changes in the estimates of Reserves or Resources may impact the carrying value of the Company’s Stream, royalty and other interests and depletion charges. The Company’s Stream and royalty interests are depleted on a units-of-production prospectively. B. Investments In the normal course of operations, the Company invests in equity interests of other entities. In such circumstances, management considers whether the facts and circumstances pertaining to each such investment result in the Company obtaining control, joint control or significant influence over the investee entity. In some cases, the determination of whether or not the Company controls, jointly controls or significantly influences the investee entities requires the application of significant management judgment to consider individually and collectively such factors as: · The purpose and design of the investee entity. · The ability to exercise power, through substantive rights, over the activities of the investee entity that significantly affect its returns. · The size of the Company’s equity ownership and voting rights, including potential voting rights. · The size and dispersion of other voting interests, including the existence of voting blocks. · Other investments in or relationships with the investee entity including, but not limited to, current or possible board representation, royalty and/or Stream investments, loans and other types of financial support, material transactions with the investee entity, interchange of managerial personnel or consulting positions. · Other relevant and pertinent factors. If it is determined that the Company neither has control, joint control or significant influence over an investee entity, the Company accounts for the corresponding investment in equity interest at fair value through other comprehensive income as further described in note 2. C. Income Taxes The interpretation of existing tax laws or regulations in Canada, the United States of America, Australia, Argentina, Ecuador, Turkey, Guernsey, Mexico, Brazil, Chile or any of the countries in which the mining operations are located or to which shipments of gold and other metals are made requires the use of judgment. Differing interpretation of these laws or regulations could result in an increase in the Company’s taxes, or other governmental charges, duties or impositions. To the extent there are uncertain tax provisions, the Company measures the impact of the uncertainty using the method that best predicts the resolution of the uncertainty. The judgements and estimates made to recognize and measure the effect of uncertain tax treatments are reassessed whenever circumstances change or when there is new information that affects those judgements. In addition, the recoverability of deferred income tax assets, including expected periods of reversal of temporary differences and expectations of future taxable income, are assessed by management at the end of each reporting period and adjusted, as necessary, on a prospective basis. Refer to note 12 for more information. D. Impairment of Assets There is judgment required to determine whether any indication of impairment exists at the end of each reporting period for each Stream, royalty and other interest and investment in associate, including assessing whether there are observable indications that the asset’s value has declined during the period. Management uses judgment when assessing whether there are indicators of impairment, such as significant changes in future commodity prices, discount rates, operator Reserve and Resource estimates or other relevant information received from the operators that indicates production from Stream and royalty interests will not likely occur or may be significantly reduced in the future. If such an indication exists, the recoverable amount of the interest is estimated in order to determine the extent of the impairment (if any). The recoverable amount is the higher of the fair value less costs of disposal and value in use. The calculation of the recoverable amount requires the use of estimates and assumptions such as long-term commodity prices, discount rates, and operating performance. The recoverable amount is determined using a discounted cash flow model. The discount rate is based on the Company’s weighted average cost of capital, adjusted for various risks. The expected future cash flows are management’s best estimates of expected future revenues and costs. Under each method, expected future revenues reflect the estimated future production for each mine at which the Company has a Stream or royalty based on detailed life of mine plans received from each of the mine operators. Included in these forecasts is the production of Mineral Resources that do not currently qualify for inclusion in proven and probable ore Reserves where there is a high degree of confidence in its economic extraction. This is consistent with the methodology that is used to measure value beyond proven and probable Reserves when determining the fair value attributable to acquired Stream and royalty interests. Expected future revenues also reflect management’s estimated long term metal prices, which are determined based on current prices, forward pricing curves and forecasts of expected long-term metal prices prepared by analysts. These estimates often differ from current price levels but are consistent with how a market participant would assess future long-term metal prices. Estimated future cash costs are established based on the terms of each Stream, royalty and other interest, as disclosed in note 16 to the financial statements. E. Accounting for Acquisition of Assets and Stream, Royalty and Other Interests The Company’s business is the acquisition of Streams, royalties and other interests. Each Stream, royalty and other interest has its own unique terms and judgement is required to assess the appropriate accounting treatment. The determination of whether an acquisition should be accounted for as a Stream, royalty and other interest or a financial instrument requires the consideration of factors such as (i) the terms of the agreement; (ii) the applicability of the own use exemption under IFRS 9; (iii) whether there is a contractual commitment to repay amounts under the Stream; and (iv) the expected timing and amount of future deliveries of gold, silver and other commodities under the Stream with reference to the existing mine plan. The consideration. F. Functional Currency The functional currency for each of the Company’s subsidiaries and associates is the currency of the primary economic environment in which the entity operates. Determination of functional currency may involve certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions which determine the primary economic environment. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2022 | |
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Financial Instruments | 4 – Financial Instruments A. Capital Risk Management The Company manages its capital such that it endeavors to continue as a going concern while maximizing the return to stakeholders through the optimization of the debt and equity balance. At December 31, 2022, the capital structure of the Company consists of $1,414.7 million (2021 — $592.6 million) of equity attributable to common shareholders, comprising issued share capital (note 10), accumulated reserves, retained earnings and accumulated other comprehensive loss. The Company was not subject to any externally imposed capital requirements. The C 2022. B. Fair Value Estimation The fair value hierarchy establishes three levels to classify the inputs of valuation techniques used to measure fair value. As required by IFRS 13, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The three levels of the fair value hierarchy are described below: Level 1 Level 1. Level 2 prices in markets that are not active, quoted prices for similar assets or liabilities in active markets, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability. Investments in warrants and convertible debt instruments held that are not listed on an exchange are classified as Level 2. The fair value of warrants, convertible debt instruments and related instruments are determined using a BSM based on relevant assumptions including risk free interest rate, expected dividend yield, expected volatility and expected warrant life which are supported by observable current market conditions. The use of reasonably possible alternative assumptions would not significantly impact the Company’s results. Level 3 The following table sets forth the Company’s financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as at December 31, 2022 and December 31, 2021. As at December 31, 2022: In $000s Total Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Short-term Investments Convertible debt $ 1,272 $ - $ 1,272 $ - Long-term Investments Common shares held $ 19,025 $ 19,025 $ - $ - Warrants and other 2,088 - 2,088 - Convertible debt 105,004 - 105,004 - $ 127,389 $ 19,025 $ 108,364 $ - As at December 31, 2021: In $000s Total Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Long-term Investments Common shares held $ 21,486 $ 21,486 $ - $ - Warrants and other 1,666 — 1,666 - Convertible debt 904 — 904 - $ 24,056 $ 21,486 $ 2,570 $ - The fair value of the Company’s other financial instruments, which include cash and cash equivalents, trade and other receivables, loans receivable which are included in investments, and trade and other payables, approximate their carrying values at December 31, 2022 and December 31, 2021 due to their short-term nature. The fair value of the Company’s bank debt, which is measured using Level 2 inputs, approximates its carrying value due to the nature of its market-based rate of interest. There were transfers between the levels of the fair value hierarchy during the year ended December 31, 2022 and the year ended December 31, 2021. C. Credit Risk The Company’s credit risk is limited to cash and cash equivalents, loans receivable which are included in short and long-term investments, trade and other receivables, and the Company’s investments in convertible debentures. The Company’s trade and other receivables are subject to the credit risk of the counterparties who own and operate the mines underlying Sandstorm’s royalty portfolio. In order to mitigate its exposure to credit risk, the Company closely monitors its financial assets and maintains its cash deposits in several high-quality financial institutions. The impact of expected credit losses on trade receivables and financial assets held at amortized cost is not material. The Company’s investments in debentures are subject to counterparties’ credit risk. In particular, the Company’s convertible debentures due from Horizon Copper Corp. (“Horizon Copper”), Bear Creek Mining Corporation (“Bear Creek”) and Sandbox Royalties Corp. (“Sandbox”) are subject to their respective credit risk, the Company’s ability to realize on its security and the net proceeds available under that security. D. Liquidity Risk The Company has in place a planning and budgeting process to help determine the funds required to support the Company’s normal operating requirements on an ongoing basis. In managing liquidity risk, the Company takes into account the amount available under the Company’s revolving credit facility, anticipated cash flows from operating activities and its holding of cash and cash equivalents. As at December 31, 2022, the Company had cash and cash equivalents of $7.0 million (December 31, 2021 — $16.2 million). Sandstorm holds common shares, convertible debentures, warrants, investments and loans receivable of other companies with a combined fair market value as at December 31, 2022 of $129.9 million (December 31, 2021 — $29.1 million). The daily exchange traded volume of these shares, including the shares underlying the warrants, may not be sufficient for the Company to liquidate its position in a short period of time without potentially affecting the market value of the shares. The Company’s trade and other payables (described further in note 9) are due within one year. The Company’s contractual obligations related to bank debt and interest are disclosed in note 16. E. Market Risk Market risk is the risk that the fair value or cash flows of a financial instrument will fluctuate due to changes in interest rates, exchange rates or other prices such as equity prices and commodity prices. INTEREST RATE RISK The Company is exposed to interest rate risk on its bank debt and its investments in debentures. As further disclosed in note 1 1 CURRENCY RISK Financial instruments that impact the Company’s net income or other comprehensive income due to currency fluctuations include cash and cash equivalents, loans receivable which are included in investments, trade and other receivables and trade and other payables denominated in Canadian dollars. Based on the Company’s Canadian dollar denominated monetary assets and monetary liabilities at December 31, 2022, a 10% increase (decrease) of the value of the Canadian dollar relative to the United States dollar would not have a material impact on net income or other comprehensive income. OTHER PRICE RISK The Company is exposed to equity price risk as a result of holding investments in other mining companies. The Company does not actively trade these investments. The equity prices of investments are impacted by various underlying factors including commodity prices, the volatility in global markets as a result of expectations of inflation and global events including the conflict between Russia and Ukraine. Based on the Company’s investments held as at December 31, 2022, |
Stream, Royalty and Other Inter
Stream, Royalty and Other Interests | 12 Months Ended |
Dec. 31, 2022 | |
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Stream, Royalty and Other Interests | 5 – Stream, Royalty and Other Interests A. Carrying Amount As of and for the year ended December 31, 2022: COST ACCUMULATED DEPLETION In $000s Opening Net Additions Ending Opening Depletion Impairment Ending Carrying Antamina, Peru $ - $ 342,227 $ 342,227 $ - $ 5,676 $ - $ 5,676 $ 336,551 Aurizona, Brazil 11,091 - 11,091 2,867 379 - 3,246 7,845 Blyvoor, South Africa - 106,332 106,332 - 787 - 787 105,545 Bonikro, Cote D’Ivoire - 37,773 37,773 - 3,106 - 3,106 34,667 Caserones, Chile - 82,678 82,678 - 1,656 - 1,656 81,022 Chapada, Brazil 69,554 7 69,561 19,845 3,060 - 22,905 46,656 Diavik, Canada 53,134 - 53,134 46,592 2,491 - 49,083 4,051 Fruta del Norte, Ecuador 33,268 - 33,268 3,594 2,416 - 6,010 27,258 Greenstone, Canada - 107,234 107,234 - - - - 107,234 Horne 5, Canada - 78,934 78,934 - - - - 78,934 Hod Maden, Turkey 5,818 201,151 206,969 - - - - 206,969 Houndé, Burkina Faso 45,120 - 45,120 13,941 2,159 - 16,100 29,020 Hugo North Extension and Heruga, Mongolia 35,352 - 35,352 - - - - 35,352 Mercedes, Mexico - 70,809 70,809 - 8,144 - 8,144 62,665 Platreef, South Africa - 186,640 186,640 - - - - 186,640 Relief Canyon, USA 26,441 7 26,448 7,531 5,121 - 12,652 13,796 Vale Royalties, Brazil 117,787 - 117,787 1,444 2,537 - 3,981 113,806 Vatukoula, Fiji 27,590 (10,356 ) 17,234 - 2,348 - 2,348 14,886 Yamana silver stream, Argentina 74,252 9 74,261 36,298 11,994 - 48,292 25,969 Other 1 374,276 165,026 539,302 267,920 7,906 1,086 276,912 262,390 Total 2 $ 873,683 $ 1,368,471 $ 2,242,154 $ 400,032 $ 59,780 $ 1,086 $ 460,898 $ 1,781,256 1 Includes Santa Elena, Black Fox, Karma, Highland Valley, El Pilar, Cortez Complex (Robertson Deposit), Troilus, CEZinc, Gualcamayo, Thunder Creek, Mine Waste Solutions, Lobo-Marte, Agi Dagi & Kirazli, HM Claim, and others. 2 Stream, royalty and other i non-depletable As of and for the year ended December 31, 2021: COST ACCUMULATED DEPLETION In $000s Opening Net Additions Ending Opening Depletion 1 Impairment Ending Carrying Aurizona, Brazil $ 11,091 $ - $ 11,091 $ 2,052 $ 815 $ - $ 2,867 $ 8,224 Chapada, Brazil 69,554 - 69,554 16,882 2,963 - 19,845 49,709 Diavik, Canada 53,134 - 53,134 43,220 3,372 - 46,592 6,542 Fruta del Norte, Ecuador 33,267 1 33,268 1,290 2,304 - 3,594 29,674 Hod Maden, Turkey 5,818 - 5,818 - - - - 5,818 Houndé, Burkina Faso 45,120 - 45,120 12,331 1,610 - 13,941 31,179 Hugo North Extension and Heruga, Mongolia 35,352 - 35,352 - - - - 35,352 Relief Canyon, United States 26,441 - 26,441 2,907 4,624 - 7,531 18,910 Vale Royalties, Brazil - 117,787 117,787 - 1,444 - 1,444 116,343 Vatukoula, Fiji - 27,590 27,590 - - - - 27,590 Yamana silver stream, Argentina 74,252 - 74,252 25,883 10,415 - 36,298 37,954 Other 2 366,949 7,327 374,276 259,801 7,711 408 267,920 106,356 Total 3 $ 720,978 $ 152,705 $ 873,683 $ 364,366 $ 35,258 $ 408 $ 400,032 $ 473,651 1 Depletion during the year ended December 31, 2021 in the Consolidated Statements of Income (loss) of $35.7 million is comprised of depletion expense for the year of $35.3 million, and $0.4 million from depletion in ending inventory as at December 31, 2020. 2 Includes Santa Elena, Black Fox, Karm a r o 3 Stream, royalty and other i non-depletable B. Significant Transactions NOMAD In August 2022, the Company closed its previously anno u Stream, royalty and other interests acquired include: · Blyvoor: y · Bonikro: Sandstorm will receive 6 % of gold produced at the mine until 39,000 ounces of gold are delivered, then 3.5 % of gold produced until 61,750 ounces of gold have been delivered, then 2 % thereafter. Under the Stream agreement Sandstorm will make ongoing cash payments of $ 400 per ounce of gold delivered. On acquisition, the fair value ascribed to the interest was $ 37.8 , which was determined using a discounted cash flow model. Key assumptions used in the analysis were a 4 % discount rate, a long-term gold price of $ 1,700 eight years . · Caserones: non-controlling non-controlling · Cortez Complex (Robertson Deposit): Sandstorm will receive a 1.0% - 2.25% sliding scale NSR on the Cortez Complex (Robertson Deposit) mine. The Robertson Deposit is a development stage deposit that is part of the Cortez Mine Complex in the United States. At a gold price of less than $1,200 per ounce, the Company will receive a 1.0% NSR which will increase by 0.25% for every $200 increase in the price of gold to a maximum of 2.25% NSR at a gold price of $2,000 or greater. On acquisition, the fair value ascribed to the interest was $37.6 million, which was determined using a discounted cash flow model. Key assumptions used in the analysis were a 5% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of 14 years. · Greenstone: ongoing I . · Mercedes: · Platreef: factor up-front · Gualcamayo: pre-feasibility · 2% NSR royalty based on the production from the oxides, excluding the first 396,000 ounces of gold contained in product produced from the non-DCP · 1.5% NSR royalty on production from the DCP in perpetuity; and DCP commercial production payment of $30 million upon commencement of the DCP commercial production whereby the Company is entitled to be paid by Mineros Chile S.A. the DCP commercial production payment within five business days of commencement of the DCP commercial production (the “DCP Commercial Production Payment”). As at December 31, 202 2 On acquisition, the fair value ascribed to the oxides NSR and DCP NSR were $2.2 million and $16.6 million, respectively, and both were determined using a discounted cash flow model. Key assumptions used in the analysis of the oxides NSR were a 4% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of three years. Key assumptions used in the analysis of the DCP NSR were a 10% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of 10 · Troilus: Frotêt-Evans BASECORE In July 2022, the Company closed its previously announced purchase of a portfolio of Stream, royalty and other interests from BaseCore Metals LP (“BaseCore”). Sandstorm made a payment of $425 million in cash and issued approximately 13.5 million common shares of the Company to BaseCore. The transaction has been accounted for as an asset acquisition, with capitalized costs of $508.5 million being determined by reference to the fair value of the net assets acquired. Stream, royalty and other interests acquired include: · Antamina: · El Pilar: · CEZinc: · Highland Valley: · Horne 5: , located in Quebec, Canada HOD MADEN In August 2022, the Company closed a previously announced transaction with Horizon Copper Corp. (“Horizon Copper”), including the sale of the Company’s 30% interest in the Hod Maden project to Horizon Copper, as further discussed in note 6, and the receipt of a $200 million Gold Stream on production from Hod Maden. As part of the sale, Sandstorm transferred to Horizon its 30% interest in Hod Maden as well as $10 million in cash and a 25% equity stake in Entrée Resources Ltd. (“Entrée”). Consideration provided to Sandstorm by Horizon includes the Hod Maden Gold Stream with an acquisition date fair value of $200 million , common shares of Horizon Copper, representing a 34% equity interest, and a secured convertible promissory note with a principal amount of $95 million, as further discussed in notes 6 and 7. Sandstorm will receive 20% of all gold produced from Hod Maden (on a 100% basis) and will make ongoing payments of 50% of the gold spot price until 405,000 ounces of gold are delivered (the “Delivery Threshold”). Once the Delivery Threshold has been reached, Sandstorm will receive 12% of the gold produced for the life of the mine for ongoing payments of 60% of the gold spot price. To estimate the fair value of the Hod Maden Gold Stream, management utilized a discounted cash flow model. Key assumptions used in the analysis we re a 5.5% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of 15 years. SANDBOX ROYALTIES In June 2022, the Company closed its previously announced sale of a portfolio of royalties to Sandbox for $65 million composed of 34 million common shares of Sandbox at a price of CAD0.70 per share, a $15 million cash payment and a 10-year Royalties acquired by Sandbox include: · Hackett River: silver-zinc-copper · Prairie Creek: zinc-silver-lead · Vittangi: · Mason: · Converse: · 1.0% NSR royalties on a portion of the Ajax copper-gold project in British Columbia, the Buffelsfontein gold project in South Africa and the Cuiu Cuiu gold project in Brazil, and a 2.0% NSR royalty on the Wiluna uranium project in Australia. MERCEDES GOLD STREAM In April 2022, the Company closed its previously announced $60 million financing package of Bear Creek to facilitate its acquisition of the producing Mercedes gold-silver mine (“Mercedes Mine”) in Mexico from Equinox Gold Corp. The financing package included a $37.5 million Gold Stream on the Mercedes Mine and a $22.5 million convertible debenture. Under the terms of the Gold Stream, beginning in April 2022, Sandstorm agreed to purchase 25,200 ounces of gold over a 3.5 year period (the “Fixed Delivery Term”) and thereafter 4.4% of the gold produced from Mercedes Mine. During the Fixed Delivery Term, Sandstorm will make ongoing per ounce cash payment equal to 7.5% of the spot price of gold. After the receipt of the fixed deliveries, the ongoing per ounce cash payment will increase to 25% of the spot price of gold. MING GOLD STREAM On April 4, 2022, Rambler Metals & Mining PLC exercised its option to repurchase the Ming Gold Stream in exchange for a payment of $6.7 million in cash and 1,150 ounces of gold (the delivery of which is over the course of 18 months). A gain of $0.2 million was recognized by Sandstorm at the time of disposal. VATUKOULA GOLD STREAM cash of 4.5-year A gain of $2.4 million was recognized by Sandstorm at the time of amendment. |
Investments in Associates
Investments in Associates | 12 Months Ended |
Dec. 31, 2022 | |
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Investments in Associates | 6 – Investments in Associates The following table summarizes the changes in the carrying amount of the Company’s investments in associates: In $000s Hod Maden Entrée Resources Sandbox Royalties Corp. Horizon Copper Corp. Total Investments in Associates At December 31, 2020 $ 96,666 $ 16,240 $ - $ - $ 112,906 Capital investment 672 6,220 - - 6,892 Company’s share of net loss of associate (253 ) (690 ) - - (943 ) Currency translation adjustments (33,772 ) (494 ) - - (34,266 ) At December 31, 2021 $ 63,313 $ 21,276 $ - $ - $ 84,589 Acquisition (disposal) of investment in associate (52,645 ) (20,633 ) 18,647 10,687 (43,944 ) Capital investment 3,818 - - - 3,818 Company’s share of net loss of associate (745 ) (478 ) (307 ) (2,124 ) (3,654 ) Currency translation adjustments (13,741 ) (165 ) (62 ) 424 (13,544 ) At December 31, 2022 $ - $ - $ 18,278 $ 8,987 $ 27,265 HOD MADEN INTEREST, HORIZON COPPER CORP. AND ENTRÉE RESOURCES LTD. In consideration for Sandstorm’s 30% interest in Hod Maden, its equity interest in Entrée R e e the e In determining the gain on the transaction, management estimated the fair value of the Hod Maden Gold Stream (note 5) and the convertible promissory note consideration received (note 7). The cumulative translation adjustment of $149.5 million previously recorded in other comprehensive income was reclassified to profit and loss at the time of disposal of this foreign operation and has been included in the calculation of the total gain on disposal. As part of the above-mentioned transaction, on May 26, 2022, the Company sold its equity interest in Entrée Resources Ltd. (“Entrée”) to Horizon Copper in consideration for a $33.8 million promissory note. As a result, the Company recognized a gain of $12.5 million on the disposal of its investment in associate. This promissory note was extinguished in August 2022 as a part of the finalization of the sale of Hod Maden to Horizon Copper. As a result of this transaction, Sandstorm’s position in Horizon Copper on a fully diluted basis is greater than %. As a result of this ownership position, the Company concluded that it has significant influence over Horizon Copper and as such, it is accounted for under the equity method. As at December 31, 2022, this position represents approximately % of the common shares of Horizon Copper on a non-diluted SANDBOX ROYALTIES CORP. On June 28, 2022, the Company closed its previously announced sale of a portfolio of royalties to Sandbox as further discussed in note 5(b). As a result of this transaction, Sandstorm’s position on a fully diluted basis is greater than 20%. As a result of this ownership position, the Company concluded that it has significant influence over Sandbox and as such, it is accounted for under the equity method. As at December 31, 2022, this position represents approximately 20.1% of the common shares of Sandbox on a non-diluted cost of the common shares held, which is equal to the o n acquisition policies. A. Sandbox Royalties Corp. Summarized financial information for the Company’s interest in Sandbox Royalties Corp., which is incorporated in Canada, on a 100% basis and reflecting adjustments made by the Company, including fair value adjustments made at the time of acquisition and adjustments for differences in accounting policies is as follows: In $000s Year Ended Revenue $ 355 Depletion (267 ) Administration expenses (272 ) Other (expense) income (1,341 ) Total net loss $ (1,525 ) Company’s share of net loss of associate $ (307 ) In $000s As at December 31, 2022 Current Assets $ 6,615 Non-current 71,993 Total Assets $ 78,608 Current Liabilities 86 Non-current 15,975 Total Liabilities $ 16,061 Net Assets $ 62,547 Company’s share of net assets of associate 12,600 Adjustments to Sandstorm’s share of net assets 5,678 Carrying amount of investment in associate $ 18,278 Summarized financial information in respect of the Company’s Sandbox Royalties Corp. investment in associate as at and for the year ended December 31, 2022 is bas e associate’s most recent available consolidated financial statements prepared in accordance with IFRS as of September 30, 2022, adjusted for material transactions during the three months ended December 31, 2022, and for adjustments made by the Company in applying the equity method, including fair value adjustments on acquisition of the interest in the associate. B. Horizon Copper Corp. Summarized financial information for the Company’s interest in Horizon Copper Corp., which is incorporated in Canada, on a 100% basis and reflecting adjustments made by the Company, including fair value adjustments made at the time of acquisition and adjustments for differences in accounting policies is as follows: In $000s Year Ended December 31, 2022 Revenue $ - Administration expenses (666 ) Other (expense) income (5,582 ) Total net loss $ (6,248 ) Company’s share of net loss of associate $ (2,124 ) In $000s As at December 31, 2022 Current Assets $ 41,360 Non-current 259,523 Total Assets $ 300,883 Current Liabilities 141 Non-current 271,163 Total Liabilities $ 271,304 Net Assets $ 29,579 Company’s share of net assets of associate 10,057 Adjustments to Sandstorm’s share of net assets (1,070 ) Carrying amount of investment in associate $ 8,987 |
Investments
Investments | 12 Months Ended |
Dec. 31, 2022 | |
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Investments | 7 – Investments As of and for the year ended December 31, 2022: In $000s Jan. 1, 2022 Additions Disposals Transfers Fair Value Adjustment Interest Revenue Dec. 31, 2022 Short-term investments Convertible debt instruments 1 $ - $ - $ - $ 1,272 $ - $ - $ 1,272 Loans receivable 3 5,001 - (2,787 ) - - 287 2,501 Total short-term investments $ 5,001 $ - $ (2,787 ) $ 1,272 $ - $ 287 $ 3,773 Non-current Common shares 2 $ 21,486 $ 10,748 $ (4,820 ) $ - $ (8,389 ) $ - $ 19,025 Warrants and other 1 1,666 - - - 422 - 2,088 Convertible debt instruments 1 904 104,972 (934 ) (1,272 ) 1,334 - 105,004 Loans receivable 3 - 33,781 (33,311 ) - - (470 ) - Total non-current $ 24,056 $ 149,501 $ (39,065 ) $ (1,272 ) $ (6,633 ) $ (470 ) $ 126,117 Total investments $ 29,057 $ 149,501 $ (41,852 ) $ - $ (6,633 ) $ (183 ) $ 129,890 1 Fair value adjustment recorded within Net Income (loss) for the period. 2 Fair value adjustment recorded within Other Comprehensive Income (loss) for the period. 3 Interest revenue recorded within Net Income (loss) for the period. In April 2022, the Company closed its previously announced financing package of Bear Creek. The financing package included a $ million convertible debenture which bears an interest rate of % per annum and has a term of , which is measured at fair value through profit or loss. The transaction is further discussed in note 5(b). In May 2022, the Company sold its equity interest in Entrée Resources Ltd. to Horizon Copper in consideration for a $33.8 million promissory note, measured at amortized cost. This promissory note was extinguished in August 2022 as a part of the finalization of the sale of Hod Maden to Horizon Copper. The transaction is further discussed in note 6. In June 2022, the Company closed its previously announced sale of a portfolio of royalties to Sandbox, as further discussed in note 5 In it the date of the transaction of $68.3 million and a fair value at bears 10-year 3-year Subject to certain conditions, principal Either party may elect to settle amounts owed under the note in Horizon Copper shares based on a 20 days volume weighted average price so long as Sandstorm’s common share ownership does not exceed 34%. circumstances. As of and for the year ended December 31, 2021: In $000s Jan. 1, 2021 Additions Disposals Transfers Fair Value Adjustment Interest Dec. 31, 2021 Short-term investments Convertible debt instruments 1 $ 1,852 $ - $ (1,722) $ - $ (130) $ - $ - Loans receivable 3 15 - (176) 4,986 - 176 5,001 Total short-term investments $ 1,867 $ - $ (1,898) $ 4,986 $ (130) $ 176 $ 5,001 Non-current Common shares 2 $ 28,416 $ 20,799 $ (15,882) $ - $ (11,847) $ - $ 21,486 Vale royalties financial instrument - - (5,887) - 5,887 - - Warrants and other 1 1,143 - (99) - 622 - 1,666 Convertible debt instruments 1 15,525 - (12,470) - (2,151) - 904 Loans receivable 3 5,001 - (189) (4,986) - 174 - Total non-current $ 50,085 $ 20,799 $ (34,527) $ (4,986) $ (7,489) $ 174 $ 24,056 Total investments $ 51,952 $ 20,799 $ (36,425) $ - $ (7,619) $ 350 $ 29,057 1 Fair value adjustment recorded within Net Income (loss) for the period. 2 Fair value adjustment recorded within Other Comprehensive Income (loss) for the period. 3 Interest revenue recorded within Net Income (loss) for the period. |
Trade and Other Receivables
Trade and Other Receivables | 12 Months Ended |
Dec. 31, 2022 | |
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Trade and Other Receivables | 8 In $000s As at December 31, 2022 As at December 31, 2021 Trade receivables $ 18,265 $ 11,760 Other receivables 3,129 384 Total trade and other receivables $ 21,394 $ 12,144 |
Trade and Other Payables
Trade and Other Payables | 12 Months Ended |
Dec. 31, 2022 | |
Trade and other payables [abstract] | |
Trade and Other Payables | 9 – Trade and Other Payables In $000s As at December 31, 2022 As at December 31, 2021 Accounts payable and accrued liabilities $ 3,808 $ 2,234 Dividends payable 4,446 3,055 Withholding taxes payable 1,120 1,041 Other payables 1 9,667 1,017 Total trade and other payables $ 19,041 $ 7,347 1 Includes an $8.3 million payable to Horizon Copper Corp. at December 31, 2022. |
Share Capital and Reserves
Share Capital and Reserves | 12 Months Ended |
Dec. 31, 2022 | |
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Share Capital and Reserves | 10 – Share Capital and Reserves A. Authorized Share Capital The Company is authoriz e Under the Company’s normal course issuer bid (“NCIB”), the Company is able, until April 6, 2023, to purchase up to 18.9 million common shares. The NCIB provides the Company with the option to purchase its common shares from time to time. The Company’s at-the-market On October 4, 2022, the Company completed a public offering of 18,055,000 common shares at a price of $5.10 per common share, for gross proceeds of $92.1 million. In connection with the offering, the Company paid agent fees of $4.6 million, representing 5% of the gross proceeds. Upon closing of the equity financing, the majority of the net proceeds were used to reduce amounts drawn under the Company’s Revolving Facility. The Company declared a dividend of CAD0.02 per share on March 31, 2022. The full amount of the dividend was paid in cash in April 2022. The Company declared a dividend of CAD0.02 per share on June 30, 2022. The full amount of the dividend was paid in cash in July 2022. The Company declared a dividend of CAD0.02 per share on September 29, 2022. The full amount of the dividend was paid in cash in October 2022. The Company declared a dividend of CAD0.02 per share on December 20, 2022. The full amount of the dividend was recorded as a payable and included within trade and other payables as at December 31, 2022. B. Stock Options of the Company The Company has an incentive stock option plan (the “Option Plan”) whereby the Company may grant share options to eligible employees, officers, directors and consultants at an exercise price, expiry date, and vesting conditions to be determined by the Board of Directors. The maximum expiry date is five years from the grant date. All options are equity settled. The Option Plan permits the issuance of options which, together with the Company’s other share compensation arrangements, may not exceed 8.5% of the Company’s issued common shares as at the date of the grant. During the year ended December 31, 2022, the Company granted 4,231,000 options with a weighted average exercise price of CAD7.12 and a fair value of $5.7 million or $1.35 per option. The fair value of the options granted was determined using a BSM using the following weighted average assumptions: grant date share price and exercise price of CAD7.12, expected volatility of 34.25%, risk-free interest rate of 4.03%, dividend yield of 1.12%, and an expected life of 3 years. Expected volatility was determined by considering the trailing 3 year historical average share price volatility of similar companies in the same industry and business model. A summary of the Company’s options and the changes for the year is as follows: Number of options Weighted average exercise price per share (CAD) Options outstanding at December 31, 2020 9,127,103 7.33 Granted 2,968,000 7.18 Exercised (855,761) (4.96) Options outstanding at December 31, 2021 11,239,342 7.47 Granted 1 6,249,148 7.19 Exercised (1,130,218) (5.39) Expired (2,250) (15.00) Options outstanding at December 31, 2022 16,356,022 7.50 1 Includes stock options granted in conjunction with the acquisition of Nomad Royalties, which is further discussed in note 5(b). The weighted average remaining contractual life of the options as at December 31, 2022 was years (year ended December 31, 2021 — years). The weighted average share price, at the time of exercise, for those shares that were exercised during the year ended December 31, 2022 was CAD per share (year end e ). A summary of the Company’s options as of December 31, 2022 is as follows: Year of expiry Number outstanding Vested Exercise price per share 1 Exercise price per share 1 2023 3,156,999 3,156,999 5.92 – 7.44 6.04 2024 3,188,023 3,188,023 1.66 – 12.40 8.05 2025 2,812,000 1,874,672 9.43 9.43 2026 2,968,000 989,336 7.18 7.18 2027 4,231,000 - 7.12 - 16,356,022 9,209,030 7.55 1 Weighted average exercise price of options that are exercisable. C. Share Purchase Warrants A summary of the Company’s warrants and the changes for the year is as follows: Number of warrants Shares to be issued upon Warrants outstanding at December 31, 2020 and December 31, 2021 - - Granted 1 2,661,012 2,661,012 Exercised (484 ) (484 ) Expired (2,418,528 ) (2,418,528 ) Warrants outstanding at December 31, 2022 242,000 242,000 1 Includes share purchase warrants granted in conjunction with the acquisition of Nomad Royalties, which is further discussed in note 5(b). The weighted average share price, at the time of exercise, for those warrants that were exercised during the year ended December 31, 2022 was CAD7.40 per share. At December 31, 2022 the Company had 242,000 D. Restricted Share Rights The Company has a r e During the year ended December 31, 2022, the Company granted 566,500 RSRs with a grant date fair value of $3.0 million, a three year vesting term, and a weighted average grant date fair value of $5.25 per unit. As of December 31, 2022, the Company had 2,262,667 RSRs outstanding. E. Diluted Earnings Per Share Diluted earnings per share is calculated based on the following: In $000s Year Ended Year Ended Net income attributable to Sandstorm’s shareholders for the y ear $ 78,361 $ 27,622 Basic weighted average number of shares 231,348,386 193,974,313 Basic earnings per share $ 0.34 $ 0.14 Effect of dilutive securities Stock options 1,192,958 1,684,992 Restricted share rights 1,776,836 2,164,175 Diluted weighted average number of common shares 234,318,180 197,823,480 Diluted earnings per share $ 0.33 $ 0.14 The following table lists the number of potentially dilutive securities excluded from the computation of diluted earnings per share because the exercise prices exceeded the average market value of the common shares of CAD8.10 during the year ended December 31, 2022 (December 31, 2021 — CAD8.76). Year Ended December 31, 2022 Year Ended December 31, 2021 Stock Options 4,700,144 4,241,250 Warrants 2,225,825 - F. Compañia Minera Caserones In August 2022, Sandstorm acquired a 67.5% interest in Compañia , Summarized financial information for the Company’s investment in this subsidiary, on a 100% basis and reflecting adjustments made by the Company, including fair value adjustments made at the time of acquisition and adjustments for differences in accounting policies is as follows: In $000s As at December 31, 2022 Current Assets $ 1,791 Non-current 81,022 Total Assets $ 82,813 Current Liabilities $ 445 Non-current - Total Liabilities $ 445 Net Assets $ 82,368 In $000s Year Ended December 31, 2022 Revenue $ 2,615 Depletion (1,656 ) Administration expenses and other 28 Income tax expense (714 ) Total net income and comprehensive income $ 273 Total net income and comprehensive income attributable to non-controlling $ 89 |
Revolving Facility and Deferred
Revolving Facility and Deferred Financing Costs | 12 Months Ended |
Dec. 31, 2022 | |
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Revolving Facility and Deferred Financing Costs | 11 – Revolving Facility and Deferred Financing Costs In July 2022, Sandstorm amended its revolving credit facility agreement allowing the Company to borrow up to $500 million with an additional uncommitted accordion of up to $125 million, for a total of up to $625 million (the “Revolving Facility”). In August 2022, Sandstorm amended the Revolving Facility and exercised the full $125 million accordion feature allowing the Company to borrow up to $625 million. The Revolving Facility is for general corporate purposes, from a syndicate of banks including The Bank of Nova Scotia, Bank of Montreal, National Bank of Canada, Canadian Imperial Bank of Commerce, and Royal Bank of Canada (“the Syndicate”). The facility matures in October 2025, subject to an extension based on mutual consent of the parties. The amounts drawn on the Revolving Facility are subject to interest at SOFR plus 1.875%–3.5% per annum, and the undrawn portion of the Revolving Facility is subject to a standby fee of 0.422%–0.788% per annum, both of which are dependent on the Company’s leverage ratio. The Revolving Facility maintains its sustainability-linked incentive pricing terms that allow Sandstorm to reduce the borrowing costs from the interest rates described earlier as the Company’s performance targets are met. Under the amendments to the Revolving Facility, Sandstorm is required to maintain a leverage ratio of net debt divided by EBITDA (as defined in the Revolving Facility) of less than or equal to 4.75:1.00 until March 31, 2023; less than or equal to 4.25:1.00 from April 1, 2023 to September 30, 2023; and 4.00:1.00 for each fiscal quarter after. The Company must also maintain an interest coverage ratio of greater than or equal to 3.00:1.00 for each fiscal quarter. The Revolving Facility is secured against the Company’s assets, including the Company’s Stream, royalty and other interests and investments. As of December 31, 2022, the Company was in compliance with the covenants and the balance of the Revolving Facility was $497.5 million. Deferred financing costs are amortized on a straight-line basis over the term of the Revolving Facility. At December 31, 2022, deferred financing costs, net of accumulated amortization, was $3.9 million (December 31, 202 1 million) |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
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Income Taxes | 12 – Income Taxes The income tax expense differs from the amount that would result from applying the federal and provincial income tax rate to the net income before income taxes. These differences result from the following items: In $000s Year Ended December 31, 2022 Year Ended December 31, 2021 Income before income taxes $ 87,769 $ 44,853 Canadian federal and provincial income tax rates 27 % 27 % Income tax expense based on the above rates $ 23,698 $ 12,110 Increase (decrease) due to: Non-deductible $ 2,102 $ 1,627 Non-taxable (3,776 ) 348 Withholding taxes 2,975 2,178 Recognition of unrecognized losses on Horizon transaction (11,977 ) - Change in unrecognized temporary differences and other (3,703 ) 968 Income tax expense $ 9,319 $ 17,231 The deferred tax liabilities are shown below: In $000s As at December 31, 2022 As at December 31, 2021 Non-capital $ 27,664 $ 17,405 Investments and other 2,240 274 Stream, royalty and other interests (44,688 ) (35,973) Total deferred income tax liabilities $ (14,784 ) $ (18,294) Deferred tax assets and liabilities have been offset where they relate to income taxes levied by the same taxation authority and the Company has the legal right and intent to offset. Non-capital as it is probable that there will be future taxable profits to recover the deferred tax assets. These non-capital losses carry forwards are located in Canada and expire between 2030-2041. The movement in net deferred income taxes is shown below: In $000s Year Ended December 31, 2022 Year Ended December 31, 2021 Balance, beginning of the year $ (18,294 ) $ (5,477) Recognized in net income (loss) for the year (4,058 ) (14,202) Recognized in equity 1,634 65 Recognized in other comprehensive income (loss) for the year 900 1,320 Recognized from new acquisitions in the year 5,034 - Balance, end of year $ (14,784 ) $ (18,294) The aggregate amount of deductible temporary differences associated with capital losses and other items, for which deferred income tax assets have not been recognized as at December 31, 2022 are $ million (2021 — $ million). No deferred tax asset is recognized in respect of these items because it is not probable that future taxable capital gains or taxable income will be available against which the Company can utilize the benefit. There were no deferred taxes recognized with respect to temporary differences arising from the Nomad acquisition as these were subject to the initial recognition exemption. |
Administration Expenses
Administration Expenses | 12 Months Ended |
Dec. 31, 2022 | |
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Administration Expenses | 1 3 The administration expenses for the Company are as follows: In $000s Year Ended December 31, 2022 Year Ended December 31, 2021 Corporate administration $ 3,732 $ 3,198 Employee benefits and salaries 3,864 2,824 Professional fees 2,552 983 Administration expenses before share-based compensation $ 10,148 $ 7,005 Equity settled share-based compensation (a non-cash 3,246 3,193 Total administration expenses $ 13,394 $ 10,198 |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2022 | |
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Supplemental Cash Flow Information | 1 4 In $000s Year Ended December 31, 2022 Year Ended December 31, 2021 Change in non-cash Trade receivables and other $ (5,498 ) $ (4,213 ) Trade and other payables 2,608 1,872 Net increase (decrease) in cash $ (2,890 ) $ (2,341 ) Significant non-cash Financial instrument received on disposal of Stream, royalty and other interests $ 14,123 $ - Sandbox investment in associate received on disposal of Stream, royalty and other interests 18,564 - Financial instrument received on disposal of Entrée investment in associate 33,781 - Common shares issued on acquisition of BaseCore portfolio of Stream, royalty and other interests (75,304 ) - Common shares issued on acquisition of Nomad portfolio of Stream, royalty and other interests (454,089 ) - Financial instruments received on disposal of Hod Maden investment in associate 68,348 - Financial instrument disposed of on disposal of Hod Maden investment in associate (33,311 ) - Horizon Copper investment in associate received on disposal of Hod Maden investment in associate 10,687 - Common shares received in consideration of a convertible debenture payment - 13,965 |
Key Management Compensation
Key Management Compensation | 12 Months Ended |
Dec. 31, 2022 | |
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Key Management Compensation | 15 – Key Management Compensation The remuneration of directors and those persons having authority and responsibility for planning, directing and controlling activities of the Company are as follows: In $000s Year Ended December 31, 2022 Year Ended December 31, 2021 Salaries and benefits $ 3,000 $ 2,588 Share-based payments 4,124 4,368 Total key management compensation expense $ 7,124 $ 6,956 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
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Commitments and Contingencies | 16 – Commitments and Contingencies In connection with its Streams, the Company has committed to purchase the following: Stream % of Life of Mine Gold or Relevant Commodity Per Ounce Cash Payment: lesser of amount below and the then prevailing noted) 1 Black Fox 8% $589 Blyvoor 2 10% $572 Bonikro 3 6% $400 CEZinc 4 1% 20% of quarterly average zinc spot price Chapada 5 4.2% 30% of copper spot price Entrée 6,7 5.62% on Hugo North Extension and 4.26% on Heruga Varies Greenstone 8 2.375% 20% of gold spot price Hod Maden 9 20% 50% of gold spot price until 405,000 ounces of gold have been delivered, then 60% of gold spot price thereafter Karma 1.625% 20% of gold spot price Mercedes 10 25,200 ounces of gold over 3.5 years and 4.4% thereafter 3,750,000 ounces of silver, and 30% of silver produced thereafter Varies Platreef 11 37.5% Varies Relief Canyon 12 32,022 ounces over 5.5 years and 4% thereafter Varies Santa Elena 20% $473 South Arturo 40% 20% of silver spot price Vatukoula 13 11,022 ounces over 4 20% of gold spot price Woodlawn 14 Varies 20% of silver spot price Yamana silver stream 15 20% 30% of silver spot price 1 Subject to an annual inflationary adjustment. 2 For the Blyvoor Gold Stream, until 300,000 , Blyvoor Gold (Pty) 16,000 100,000 10.32 572 3 For the Bonikro Gold Stream, Sandstorm will receive 6% of gold produced at the mine until 39,000 ounces of gold are delivered, then 3.5% of gold produced until 61,750 cumulative 4 For the CEZinc zinc stream, the Company has committed to purchase 1.0% of the zinc produced until the later of June 30, 2030 or delivery of 68.0 5 For the Chapada copper stream, the Company has committed to purchase an amount equal to 4.2% of the copper produced (up to an annual maximum of 3.9 million pounds of copper) until the mine has delivered 39 million pounds of copper to Sandstorm; then 3.0% of the copper produced until, on a cumulative basis, the mine has delivered 50 6 For the Entrée Gold Stream, after approximately 8.6 million ounces of gold have been produced from the joint venture property, the price increases from $220 per gold ounce 7 For the Entrée copper stream, the Company has committed to purchase an amount equal to 0.42% of the copper produced from the Hugo North Extension and Heruga deposits. If the minerals produced are contained above 560 metres in depth, then the commitment increases to 0.62% for both the Hugo North Extension and Heruga deposits. Sandstorm will make ongoing per pound cash payments equal to the lesser of $0.50 and the then prevailing market price of copper, until 9.1 billion pounds of copper have been produced from the entire joint venture property. Thereafter, the ongoing per pound payments will increase to the lesser of $1.10 and the then prevailing market price of copper. 8 For Greenstone, the Gold Stream on the project is for 2.375% of gold production from the Greenstone joint venture (100% basis), until 120,333 ounces of gold have been delivered, then 1.583% thereafter. In addition to the ongoing payments of 20% of the spot price of gold 9 Under the Hod Maden Gold Stream, Sandstorm 10 Under the terms of the Mercedes Gold Stream, after receipt of 25,200 gold ounces (the cost of which is 7.5% of the spot price), the Company is entitled to purchase 4.4% of the gold produced from the Mercedes Mine for ongoing per ounce cash payments equal to 25% of the spot price of gold. Under the terms of the Mercedes silver stream, until 3,750,000 ounces of silver have been delivered under the contract (the cost of which is 20% of the spot price of silver), the Company is entitled to purchase 100% of silver produced with a minimum annual delivery requirement of 300,000 ounces per annum. After 3,750,000 ounces of silver have been delivered under the contract, the Company is entitled to purchase 30% of silver produced (the cost of which is 20% of the spot price of silver). 11 Under the terms of the Platreef Gold Stream, the Company has the right to purchase 37.5% of gold produced until 131,250 gold ounces have been delivered, 30% until an aggregate of 256,980 ounces of gold are delivered, and 1.875% thereafter if certain conditions are met. In calculating gold deliveries owing under the Stream, a fixed payability factor of 80% is applied to all gold production. Until 256,980 ounces have been delivered, Sandstorm will make ongoing payments equal to the lesser of $100 per ounce of gold and the gold market price on the business day immediately preceding the date of delivery. After 256,980 ounces have been delivered, Sandstorm will make ongoing payments of 80% of the spot price of gold for each ounce delivered. 12 For the Relief Canyon Stream, after receipt of 32,022 gold ounces (the cost of which is nil), the Company is entitled to purchase 4.0% of the gold and silver produced from the Relief Canyon Mine for ongoing per ounce cash payments equal to 30%–65% of the spot price of gold or silver, with the range dependent on the concession’s existing royalty obligations. 13 Under the terms of the amended Vatukoula Gold Stream, the Company is entitled to fixed deliveries totalling gold ounces (the cost of which is of the spot price) after January 1, 2023 (the “Vatukoula Fixed Delivery Period”). Following the Vatukoula Fixed Delivery Period, the Company is entitled to purchase for the first 100,000 ounces of gold produced in a calendar year, and for the volume of production above 100,000 ounces, with both variable delivery rates subject to upward adjustment depending on the final scale of the Company’s investment in the Vatukoula Gold Stream. 14 For the Woodlawn silver stream, Sandstorm has agreed to purchase an amount of silver equal to 80% of payable silver produced. Deliveries under the Woodlawn silver stream are capped at A$27 million. In addition, the Company holds a second stream at Woodlawn under which the operator has agreed to pay Sandstorm A$1.0 million for each 1Mt of tailings ore processed at Woodlawn, subject to a cumulative cap of A$10 million. 15 Under the terms of the Yamana silver stream, Sandstorm has agreed to purchase an amount of silver from Cerro Moro equal to 20% of the silver produced (up to an annual maximum of 1.2 million ounces of silver), until Yamana has delivered to Sandstorm Contractual obligations related to bank debt and interest are as follows: In $000s Total Less than one 1-3 years Bank debt 1 $ 497,500 $ - $ 497,500 Interest 2 93,450 37,116 56,334 $ 590,950 $ 37,116 $ 553,834 1 As at December 31, 2022, the Company had $497.5 million drawn and outstanding on the Revolving Facility. The repayment date in the table above reflects the full term of the facility which matures on October 6, 2025, assuming no extension periods. 2 The amounts drawn on the Revolving Facility are subject to an interest rate of SOFR plus 1.875%–3.5% per annum, and the undrawn portion of the Revolving Facility is subject to a standby fee of 0.4219% - 0.7875% per annum, both of which are dependent on the terms of the Revolving Facility and the Company’s leverage ratio. The interest charges have been estimated based on assumptions of the Company’s future leverage ratio. The Revolving Facility incorporates sustainability-linked incentive pricing terms that allow the Company to reduce the borrowing costs from the interest rates described above as the Company’s ESG targets are met. The interest charges have been estimated based on the assumption that the Company will continue with the same pricing adjustment to the debt maturity date. As the applicable interest rate is floating in nature, the interest charges are estimated based on market forward interest rate curves at the ending of the reporting period combined with the assumption that the principal balance outstanding at December 31, 2022, does not change until the debt maturity date. As previously disclosed, Sandstorm became aware that a third party commenced legal proceedings against it in a Brazilian court. The proceedings involve severance owed to former employees of Colossus Mineração Ltda., a Brazilian subsidiary company of Colossus Minerals Inc. (an entity with which Sandstorm entered into a Stream). Since these severance claims, estimated to be approximately $8 million, remain outstanding, the claimants are seeking to recoup their claims from Sandstorm. Sandstorm intends on defending itself as it believes the case is without merit. As part of the Horizon Copper transaction, the Company agreed to make available certain additional funds to Horizon Copper subject to certain conditions, including availability, use of proceeds and other customary conditions up to a maximum of $150 million. The facility will bear interest at SOFR to-date. As of December 31, 2022, the Company had signed a 12 . |
Segmented Information
Segmented Information | 12 Months Ended |
Dec. 31, 2022 | |
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Segmented Information | 17 – Segmented Information The Company’s reportable operating segments, which are components of the Company’s business where separate financial information is available and which are evaluated on a regular basis by the Company’s Chief Executive Officer, who is For the year ended December 31, 2022: In $000s Product Sales Royalty revenue Cost of sales excluding depletion Depletion Stream, royalty and other interests impairments Gain on disposal of Stream, royalty and other interests and Other Income (loss) before taxes Cash flows from operating activities Antamina, Peru 1 Various $ - $ 4,269 $ - $ 5,676 $ - $ - $ (1,407 ) $ 1,069 Aurizona, Brazil Gold - 6,925 - 379 - - 6,546 7,925 Blyvoor, South Africa Gold 2,589 - 1,199 787 - - 603 2,083 Bonikro, Cote D’Ivoire Gold 5,243 - 2,422 3,106 - - (285 ) 3,742 Caserones, Chile Copper - 2,615 - 1,656 - - 959 2,747 Chapada, Brazil Copper 16,016 - 4,828 3,060 - - 8,128 11,188 Diavik, Canada Diamonds - 8,206 - 2,491 - - 5,715 8,056 Fruta del Norte, Ecuador Gold - 6,546 - 2,416 - - 4,130 4,757 Houndé, Burkina Faso Gold - 5,815 - 2,159 - - 3,656 3,547 Mercedes, Mexico 2 Various 14,934 - 2,001 8,144 - - 4,789 11,669 Relief Canyon, United States Gold 10,891 - - 5,121 - - 5,770 10,891 Vale Royalties, Brazil Iron Ore - 7,813 - 2,537 - - 5,276 7,618 Vatukoula, Fiji Gold 4,503 - 899 2,348 - (2,396 ) 3,652 3,604 Yamana silver stream, Argentina Silver 27,804 - 8,323 11,994 - - 7,487 19,480 Other 3 Various 15,835 8,728 3,694 7,906 1,086 (23,437 ) 35,314 21,003 Total Segments $ 97,815 $ 50,917 $ 23,366 $ 59,780 $ 1,086 $ (25,833 ) $ 90,333 $ 119,379 Corporate: Administration & Project evaluation expenses $ - $ - $ - $ - $ - $ - $ (20,828 ) $ (14,269 ) Foreign exchange loss - - - - - - (790 ) - Gain on revaluation of investments - - - - - - 1,756 - Finance (expense) income, net - - - - - - (16,477 ) 871 Gain on disposal of investment in associate - - - - - (37,396 ) 37,396 - Share of net loss of associates - - - - - - (3,654 ) - Other - - - - - 3,621 33 935 Total Corporate $ - $ - $ - $ - $ - $ (33,775 ) $ (2,564 ) $ (12,463 ) Consolidated $ 97,815 $ 50,917 $ 23,366 $ 59,780 $ 1,086 $ (59,608 ) $ 87,769 $ 106,916 1 Royalty revenue from Antamina consists of $2.9 million from copper, $0.2 million from silver and $1.2 million from other base metals. 2 Revenue from Mercedes consists of $12.4 million from gold and $2.5 million from silver. 3 Where a Stream, royalty and other interest For the year ended December 31, 2021: In $000s Product Sales Royalty revenue Cost of sales excluding Depletion Stream, royalty and other interests impairments Gain on revaluation of Vale Royalties financial instrument Income (loss) Cash flows from operating Aurizona, Brazil Gold $ - $ 9,844 $ - $ 815 $ - $ - $ 9,029 $ 9,444 Chapada, Brazil Copper 15,118 - 4,541 2,963 - - 7,614 10,577 Diavik, Canada Diamonds - 7,647 - 3,372 - - 4,275 7,097 Fruta del Norte, Ecuador Gold - 6,367 - 2,304 - - 4,063 4,465 Houndé, Burkina Faso Gold - 3,803 - 1,610 - - 2,193 3,802 Relief Canyon, United States Gold 10,499 - - 4,711 - - 5,788 10,499 Vale Royalties, Brazil Iron Ore - 4,398 - 1,444 - (5,887 ) 8,841 198 Yamana silver stream, Argentina Silver 25,460 - 7,603 10,415 - - 7,442 17,857 Other 1 Various 20,645 11,079 4,701 8,070 408 - 18,545 27,096 Total Segments $ 71,722 $ 43,138 $ 16,845 $ 35,704 $ 408 $ (5,887 ) $ 67,790 $ 91,035 Corporate: Administration & Project evaluation expenses $ - $ - $ - $ - $ - $ - $ (17,968 ) $ (11,492 ) Foreign exchange loss - - - - - - (645 ) - Loss on revaluation of investments - - - - - - (1,659 ) - Finance (expense) income, net - - - - - - (1,654 ) 38 Share of net loss of associates - - - - - - (943 ) - Other - - - - - - (68 ) 1,558 Total Corporate $ - $ - $ - $ - $ - $ - $ (22,937 ) $ (9,896 ) Consolidated $ 71,722 $ 43,138 $ 16,845 $ 35,704 $ 408 $ (5,887 ) $ 44,853 $ 81,139 1 Where a Stream, royalty and other interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and represents an interest on gold, silver or other metal, the interest has been summarized under Other. Other includes revenue from Santa Elena, Black Fox, Karma, Gualcamayo, Thunder Creek, Mine Waste Solutions, HM Claim, and others. Includes revenue from Stream, royalty and other interests located in Canada of $14.5 million, Mexico of Total assets as of: In $000s December 31, 2022 December 31, 2021 Antamina $ 339,751 $ - Aurizona 9,745 11,124 Blyvoor 105,545 - Bonikro 35,306 - Caserones 82,800 - Chapada 46,656 49,709 Diavik 5,401 7,742 Fruta del Norte 28,658 31,174 Greenstone 107,234 - Horne 5 78,934 - Hod Maden 1 206,969 69,131 Houndé 30,037 31,179 Hugo North Extension and Heruga 2 35,352 56,628 Mercedes 64,945 - Platreef 186,640 - Relief Canyon 13,796 18,910 Vale Royalties 116,856 120,543 Vatukoula 14,886 27,716 Yamana silver stream 25,969 37,954 Other 3 264,261 108,229 Total Segments $ 1,799,741 $ 570,039 Corporate: Cash and cash equivalents $ 7,029 $ 16,166 Investments 129,890 29,057 Other assets 4 38,117 5,596 Total Corporate $ 175,036 $ 50,819 Consolidated $ 1,974,777 $ 620,858 1 Includes Stream, royalty and other interests of $207.0 million at December 3 1 2 Includes S 1 3 Where a Stream, royalty and other interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and represents an interest on gold, silver or other metal, the interest has been summarized under Other. Includes Santa Elena, Black Fox, Karma, Highland Valley, El Pilar, Cortez Complex (Robertson Deposit), Troilus, CEZinc, Gualcamayo, Thunder Creek, Mine Waste Solutions, Lobo-Marte, Agi Dagi & Kirazli, HM Claim, and others. Reportable segments that have not met the criteria for separate disclosure in the current period have been included in Other for the current and prior period. 4 Includes Sandbox and Horizon Copper investments in associates. Non-current In $000s December 31, 2022 1 December 31, 2021 1 North America Canada $ 296,794 $ 45,917 Mexico 79,852 4,034 USA 68,496 41,660 South & Central America Peru $ 338,042 $ - Brazil 186,740 177,640 Chile 83,482 2,460 Argentina 58,493 51,627 Ecuador 27,259 29,675 French Guiana 5,160 5,160 Africa South Africa $ 294,707 $ 2,745 Burkina Faso 35,927 38,565 Cote D’Ivoire 34,667 - Other Turkey $ 210,888 $ 72,917 Mongolia 35,995 57,271 Australia 16,982 3,220 Fiji 14,886 27,590 Other 298 2,717 Consolidated $ 1,788,668 $ 563,198 1 Includes Stream, royalty and other interests and Other long-term assets at December 31, 2022. Includes Stream, royalty and other interests, Investments in associates and Other long-term assets at December 31, 2021. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Statement of Compliance | A. Statement of Compliance These consolidated financial statements, including comparatives, have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). |
Basis of Presentation | B. Basis of Presentation These consolidated financial statements have been prepared on a historical cost basis except for certain financial instruments, which are measured at fair value. The consolidated financial statements are presented in United States dollars, and all values are rounded to the nearest thousand except as otherwise indicated. |
Principles of Consolidation | C. Principles of Consolidation These consolidated financial statements include the accounts of the Company and its subsidiaries which are wholly owned: Sandstorm Gold (Canada) Ltd., Bridgeport Gold Inc., Inversiones Mineras Australes Holdings (BVI) Inc., Inversiones Mineras Australes S.A., Premier Royalty U.S.A. Inc., SA Targeted Investing Corp., Sandstorm Metals & Energy (US) Inc., 1359212 B.C. Ltd. and Nomad Royalty Company Ltd. Subsidiaries are fully consolidated from the date the Company obtains control and continue to be consolidated until the date that control ceases. These consolidated financial statements also include the accounts of the Company’s 67.5% interest in Compañia Minera Caserones (“CMC”). The non-controlling interest related to this entity has been recorded in equity. Sandstorm consolidates the results of CMC on a 100% basis, with the proportionate share of net income (loss) and comprehensive (loss) attributable to owners of the Company and non-controlling interest presented separately. Control is achieved when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. All intercompany balances, transactions, revenues and expenses have been eliminated on consolidation. |
Investments in Associates | D. Investments in Associates An associate is an entity over which the Company has significant influence and is neither a subsidiary nor a joint arrangement. The Company has significant influence when it has the power to participate in the financial and operating policy decisions of the associate but does not have control or joint control over those policies. The Company accounts for its investments in associates using the equity method. Under the equity method, the Company’s investments in associates are initially recognized at cost when acquired and subsequently increased or decreased to recognize the Company’s share of net income and losses of the associate, after any adjustments necessary to give effect to uniform accounting policies, any other movement in the associate’s reserves, and for impairment losses after the initial recognition date. The Company’s share of income and losses of the associate is recognized in net income during the period. Dividends received from the associate are accounted for as a reduction in the carrying amount of the Company’s investment. |
Goodwill | E Goodwill The Company allocates goodwill arising from business combinations to each cash-generating unit or group of cash-generating units that are expected to receive the benefits from the business combination. Irrespective of any indication of impairment, the recoverable amount of the cash-generating unit or group of cash-generating units to which goodwill has been allocated is tested annually for impairment and when there is an indication that the goodwill may be impaired. Any impairment is recognized as an expense immediately. Any impairment of goodwill is not subsequently reversed. |
Stream, Royalty and Other Interests | F. Stream, Royalty and Other Interests Stream, royalty and other interests consist of acquired royalty and Stream metal purchase agreements. These interests are recorded at cost and capitalized as long term tangible assets with finite lives. They are subsequently measured at cost less accumulated depletion and accumulated impairment losses, if any. Project evaluation costs that are not related to a specific agreement are expensed in the period incurred. Stream, royalty and other interests related to producing mines are depleted using the units-of-production On acquisition of a Stream, royalty or other interest, an allocation of its cost may be attributed to the exploration potential of the interest and is recorded as a non-depletable 6, Exploration and Evaluation of Mineral Resources and is not depleted until such time as the technical feasibility and commercial viability have been established at which point the value of the asset is accounted for by reference to IAS 16, Property, Plant and Equipment. |
Impairment of Stream, Royalty and Other Interests | G. Impairment of Stream, Royalty and Other Interests Evaluation of the carrying values of each Stream, royalty and other interest is undertaken when events or changes in circumstances indicate that the carrying values may not be recoverable and at each reporting period. If any indication of impairment exists, the recoverable amount is estimated to determine the extent of any impairment loss. The recoverable amount is the higher of the fair value less costs of disposal and value in use. Fair value is the price that would be received from selling an asset in an orderly transaction between market participants at the measurement date. Costs of disposal are incremental costs directly attributable to the disposal of an asset. Fair value less costs of disposal is usually estimated using a discounted cash flow approach. Estimated future cash flows are calculated using estimated production, sales prices, and a discount rate. Estimated production is determined using current Reserves and the portion of Resources expected to be classified as Mineral Reserves as well as exploration potential expected to be converted into Resources. Estimated sales prices are determined by reference to a long-term metal price forecasts by analysts and management’s expectations. The discount rate is estimated using a discount rate incorporating analyst views and management’s expectations to value precious metal royalty companies. Value in use is determined as the present value of future cash flows expected to be derived from continuing use of an asset in its present form for those assets where value in use exceeds fair value less costs of disposal. If it is determined that the recoverable amount is less than the carrying value, then an impairment is recognized within net income (loss) immediately. An assessment is made at each reporting period if there is any indication that a previous impairment loss may no longer exist or has decreased. If any indications are present, the carrying amount of the Stream, royalty and other interest is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount net of depletion that would have been determined had no impairment loss been recognized for the Stream, royalty and other interest in previous periods. |
Revenue Recognition | H. Revenue Recognition Revenue is comprised of revenue earned in the period from contracts with customers under each of its royalty and Stream interests. The Company has determined that each unit of a commodity that is delivered to a customer under a royalty and Stream interest is a performance obligation for the delivery of a good that is separate from each other unit of the commodity to be delivered under the same arrangement. In accordance with IFRS 15, the Company recognizes revenue to depict the transfer of the relevant commodity to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those commodities. For Stream interests, revenue recognition occurs when the relevant commodity received from the Stream operator is transferred by the Company to its third-party customers. For royalty interests, revenue recognition occurs when the relevant commodity is transferred to the end customer by the operator of the royalty property. Revenue is measured at the fair value of the consideration received or receivable when management can reliably estimate the amount, pursuant to the terms of the royalty agreement. In some instances, the Company will not have access to sufficient information to make a reasonable estimate of consideration to which it expects to be entitled and, accordingly, revenue recognition is deferred until management can make a reasonable estimate. Differences between estimates and actual amounts are adjusted and recorded in the period that the actual amounts are k nown. |
Foreign Currency Translation | I Foreign Currency Translation The functional currency of the Company and its subsidiaries is the principal currency of the economic environment in which they operate. For the Company and its subsidiaries Sandstorm Gold (Canada) Ltd., Bridgeport Gold Inc., Inversiones Mineras Australes Holdings (BVI) Inc., Inversiones Mineras Australes S.A., Premier Royalty U.S.A. Inc., SA Targeted Investing Corp., Sandstorm Metals & Energy (US) Inc., 1359212 B.C. Ltd., the Nomad Royalty Company Ltd. and the Company’s Sandbox Royalty Corp. investment in associate, the functional currency is the U.S. dollar. For the Company’s Horizon Copper Corp. investment in associate, the functional currency is the Canadian dollar. Transactions in foreign currencies are initially recorded in the entity’s functional currency as the rate on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the closing rate as at the reporting date. Effective April 1, 2022, the Company reassessed the functional currency of the associate which holds the Hod Maden interest. The assessment was triggered by the forecasted expenditures of the associate, the currency driving those expenditures and the underlying transactions, events, and conditions of the entity. As a result of that assessment, it was determined the functional currency had changed from Turkish Lira to U.S. dollars. As a consequence, the depreciation or appreciation of the Turkish Lira, which was the functional currency of the entity that holds the Hod Maden Interest, relative to the U.S. dollar, which is the presentation currency of Sandstorm Gold Ltd. did not have a material impact on the recognition of currency translations adjustments in other comprehensive income during the period affected by this change. In accordance with the standard, the change in functional currency was applied prospectively. Prior to April 1, 2022, the functional currency of the Company’s Hod Maden interest in associate was the Turkish Lira. To translate the Hod Maden interest to the presentation currency of the U.S. dollar, all assets and liabilities were translated using the exchange rate as of the reporting date and all income and expenses were translated using the average exchange rates during the period. All resulting exchange differences were recognized in other comprehensive income (loss). In August 2022, the Company disposed of its Hod Maden interest. On disposal, the cumulative amount of the translation differences previously recognized in other comprehensive income were reclassified to net income as a reclassification adjustment. |
Financial Instruments | J Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, trade receivables and other, short and long-term investments, loans receivable, trade and other payables and bank debt. All financial instruments are initially recorded at fair value and designated as follows: Cash and cash equivalents, trade receivables and other, and loans receivable are classified as financial assets at amortized cost and trade and other payables and bank debt are classified as financial liabilities at amortized cost. Both financial assets at amortized cost and financial liabilities at amortized cost are measured at amortized cost using the effective interest method. The Company’s financial assets which are subject to credit risk include cash and cash equivalents, trade receivables and other and loans receivable. At December 31, 2021 and December 31, 2022, the Company determined that the expected credit losses on its financial assets were nominal. Ther e were no material impairment losses recognized on financial assets during the years ended December 31, 2022 and December 31, 2021. Investments in common shares are held for long-term strategic purposes and not for trading. The Company has made an irrevocable election to designate all these investments as fair value through other comprehensive income (“FVTOCI”) in order to provide a more meaningful presentation based on management’s intention, rather than reflecting changes in fair value in net income. Such investments are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement Investments in warrants and convertible debt instruments are classified as fair value through profit or loss (“FVTPL”). These warrants and convertible debt instruments are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement Transaction costs on initial recognition of financial instruments classified as FVTPL are expensed as incurred. Transaction costs incurred on initial recognition of financial instruments classified as loans and receivables, FVTOCI and other financial liabilities are recognized at their fair value amount and offset against the related loans and receivables or capitalized when appropriate. Financial assets are derecognized when the contractual rights to the cash flows from the asset expire. Financial liabilities are derecognized only when the Company’s obligations are discharged, cancelled or they expire. On derecognition, the difference between the carrying amount (measured at the date of derecognition) and the consideration received (including any new asset obtained less any new liability obtained) is recognized in profit or loss. In August 2020, the International Accounting Standards Board issued Interest Rate Benchmark Reform – Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) (“IBOR Amendments”), which is applied to potential changes in contractual cash flows of a financial asset or financial liability as a result of replacing an interest rate benchmark with an alternative benchmark rate. The Company has adopted the IBOR Amendments retrospectively. The new standard did not have a material impact on the Company’s consolidated financial statements. |
Inventory | K Inventory When refined gold or the applicable commodity, under the Stream agreement, is delivered to the Compan interest. |
Cash and Cash Equivalents | L Cash and Cash Equivalents Cash and cas value. |
Income Taxes | M. Income Taxes Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used are those that are substantively enacted at the reporting date. Deferred income taxes are provided for using the liability method on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for accounting. The change in the net deferred income tax asset or liability is included in income except for deferred income tax relating to equity items which is recognized directly in equity, and relating to investments in common shares designated as FVTOCI which is recognized in other comprehensive income. The income tax effects of differences in the periods when revenue and expenses are recognized in accordance with Company accounting practices, and the periods they are recognized for income tax purposes are reflected as deferred income tax assets or liabilities. Deferred income tax assets and liabilities are measured using the substantively enacted statutory income tax rates which are expected to apply to taxable income in the years in which the assets are realized or the liabilities settled. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available for utilization. Temporary differences are not provided for the initial recognition of assets or liabilities that affect neither accounting nor taxable earnings. Deferred income tax assets and liabilities are offset only if a legally enforceable right exists to offset current tax assets against liabilities and the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on the same taxable entity and are intended to be settled on a net basis. The determination of current and deferred taxes requires interpretations of tax legislation, estimates of expected timing of reversal of deferred tax assets and liabilities, and estimates of future earnings. |
Share Capital and Share Purchase Warrants | N. Share Capital and Share Purchase Warrants The proceeds from the issue of units are allocated between common shares and share purchase warrants (with an exercise price denominated in U.S. dollars) on a pro-rata |
Earnings Per Share | O. Earnings Per Share Basic earnings per share is computed by dividing the net income available to Sandstorm common shareholders by the weighted average number of common shares issued and outstanding during the period. Diluted earnings per share is calculated assuming that outstanding share options and share purchase warrants, with an average market price that exceeds the average exercise prices of the options and warrants for the year, are exercised and the proceeds are used to repurchase shares of the Company at the average market price of the common shares for the year. |
Share Based Payments | P. Share Based Payments The Company recognizes share based compensation expense for all share purchase options and restricted share rights (“RSRs”) awarded to employees, officers and directors based on the fair values of the share purchase options and RSRs at the date of grant. The fair values of share purchase options and RSRs at the date of grant are expensed over the vesting periods of the share purchase options and RSRs, respectively, with a corresponding increase to equity. The fair value of share purchase options is determined using the BSM with market related inputs as of the date of grant. Share purchase options with graded vesting schedules are accounted for as separate grants with different vesting periods and fair values. The fair value of RSRs is the market value of the underlying shares at the date of grant. At the end of each reporting period, the Company re-assesses The BSM requires management to estimate the expected volatility and expected term of the equity instrument, the risk-free rate of return over the term, expected dividends, and the number of equity instruments expected to ultimately vest. The Company uses its competitors market data with respect to expected volatility and expected dividend yield to the extent these factors are indicative of the Company’s future expectations. The expected term is estimated using historical exercise data, and the number of equity instruments expected to vest is estimated using historical forfeiture data. |
Related Party Transactions | Q. Related Party Transactions Parties are considered related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party. Parties are also considered related if they are subject to common control or significant influence. A transaction is considered a related party transaction when there is a transfer of resources or obligations between related parties. |
Segment Reporting | R. Segment Reporting |
Leases | S. Leases Upon lease commencement, the Company recognizes a right-of-use asset, which is initially measured at the amount of the lease liability plus any direct costs incurred, which is then amortized over the life of the lease on a straight-line basis. The lease liability is initially measured at the present value of the lease payments payable over the lease term, discounted at the rate implicit in the lease; if the implicit lease rate cannot be determined, the incremental borrowing rate is used. Payments against the lease are then offset against the lease liability. The lease liability and right-of-use asset are subsequently re-measured to reflect changes to the terms of the lease. Assets and liabilities are recognized for all leases unless the lease term is twelve months or less or the underlying asset has a low value. |
Non-controlling Interests | T. Non-controlling During the year ended December 31, 2022, the Company acquired a 67.5% interest in Compañia Minera Caserones (“CMC”), which holds the Caserones Royalty. The non-controlling interest related to this entity has been recorded in equity. Sandstorm consolidates the results of CMC on a 100% basis, with the proportionate share of net income (loss) and comprehensive income (loss) attributable to owners of the Company and non-controlling interest presented separately. Non-controlling Non-controlling non-controlling |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following table sets forth the Company’s financial assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as at December 31, 2022 and December 31, 2021. As at December 31, 2022: In $000s Total Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Short-term Investments Convertible debt $ 1,272 $ - $ 1,272 $ - Long-term Investments Common shares held $ 19,025 $ 19,025 $ - $ - Warrants and other 2,088 - 2,088 - Convertible debt 105,004 - 105,004 - $ 127,389 $ 19,025 $ 108,364 $ - As at December 31, 2021: In $000s Total Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Long-term Investments Common shares held $ 21,486 $ 21,486 $ - $ - Warrants and other 1,666 — 1,666 - Convertible debt 904 — 904 - $ 24,056 $ 21,486 $ 2,570 $ - |
Stream, Royalty and Other Int_2
Stream, Royalty and Other Interests (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Carrying Amount Related to Stream, Royalty and Other Interests | A. Carrying Amount As of and for the year ended December 31, 2022: COST ACCUMULATED DEPLETION In $000s Opening Net Additions Ending Opening Depletion Impairment Ending Carrying Antamina, Peru $ - $ 342,227 $ 342,227 $ - $ 5,676 $ - $ 5,676 $ 336,551 Aurizona, Brazil 11,091 - 11,091 2,867 379 - 3,246 7,845 Blyvoor, South Africa - 106,332 106,332 - 787 - 787 105,545 Bonikro, Cote D’Ivoire - 37,773 37,773 - 3,106 - 3,106 34,667 Caserones, Chile - 82,678 82,678 - 1,656 - 1,656 81,022 Chapada, Brazil 69,554 7 69,561 19,845 3,060 - 22,905 46,656 Diavik, Canada 53,134 - 53,134 46,592 2,491 - 49,083 4,051 Fruta del Norte, Ecuador 33,268 - 33,268 3,594 2,416 - 6,010 27,258 Greenstone, Canada - 107,234 107,234 - - - - 107,234 Horne 5, Canada - 78,934 78,934 - - - - 78,934 Hod Maden, Turkey 5,818 201,151 206,969 - - - - 206,969 Houndé, Burkina Faso 45,120 - 45,120 13,941 2,159 - 16,100 29,020 Hugo North Extension and Heruga, Mongolia 35,352 - 35,352 - - - - 35,352 Mercedes, Mexico - 70,809 70,809 - 8,144 - 8,144 62,665 Platreef, South Africa - 186,640 186,640 - - - - 186,640 Relief Canyon, USA 26,441 7 26,448 7,531 5,121 - 12,652 13,796 Vale Royalties, Brazil 117,787 - 117,787 1,444 2,537 - 3,981 113,806 Vatukoula, Fiji 27,590 (10,356 ) 17,234 - 2,348 - 2,348 14,886 Yamana silver stream, Argentina 74,252 9 74,261 36,298 11,994 - 48,292 25,969 Other 1 374,276 165,026 539,302 267,920 7,906 1,086 276,912 262,390 Total 2 $ 873,683 $ 1,368,471 $ 2,242,154 $ 400,032 $ 59,780 $ 1,086 $ 460,898 $ 1,781,256 1 Includes Santa Elena, Black Fox, Karma, Highland Valley, El Pilar, Cortez Complex (Robertson Deposit), Troilus, CEZinc, Gualcamayo, Thunder Creek, Mine Waste Solutions, Lobo-Marte, Agi Dagi & Kirazli, HM Claim, and others. 2 Stream, royalty and other i non-depletable As of and for the year ended December 31, 2021: COST ACCUMULATED DEPLETION In $000s Opening Net Additions Ending Opening Depletion 1 Impairment Ending Carrying Aurizona, Brazil $ 11,091 $ - $ 11,091 $ 2,052 $ 815 $ - $ 2,867 $ 8,224 Chapada, Brazil 69,554 - 69,554 16,882 2,963 - 19,845 49,709 Diavik, Canada 53,134 - 53,134 43,220 3,372 - 46,592 6,542 Fruta del Norte, Ecuador 33,267 1 33,268 1,290 2,304 - 3,594 29,674 Hod Maden, Turkey 5,818 - 5,818 - - - - 5,818 Houndé, Burkina Faso 45,120 - 45,120 12,331 1,610 - 13,941 31,179 Hugo North Extension and Heruga, Mongolia 35,352 - 35,352 - - - - 35,352 Relief Canyon, United States 26,441 - 26,441 2,907 4,624 - 7,531 18,910 Vale Royalties, Brazil - 117,787 117,787 - 1,444 - 1,444 116,343 Vatukoula, Fiji - 27,590 27,590 - - - - 27,590 Yamana silver stream, Argentina 74,252 - 74,252 25,883 10,415 - 36,298 37,954 Other 2 366,949 7,327 374,276 259,801 7,711 408 267,920 106,356 Total 3 $ 720,978 $ 152,705 $ 873,683 $ 364,366 $ 35,258 $ 408 $ 400,032 $ 473,651 1 Depletion during the year ended December 31, 2021 in the Consolidated Statements of Income (loss) of $35.7 million is comprised of depletion expense for the year of $35.3 million, and $0.4 million from depletion in ending inventory as at December 31, 2020. 2 Includes Santa Elena, Black Fox, Karm a r o 3 Stream, royalty and other i non-depletable |
Investments in Associates (Tabl
Investments in Associates (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of associates [line items] | |
Summary of Changes in Carrying Amount of Associate | The following table summarizes the changes in the carrying amount of the Company’s investments in associates: In $000s Hod Maden Entrée Resources Sandbox Royalties Corp. Horizon Copper Corp. Total Investments in Associates At December 31, 2020 $ 96,666 $ 16,240 $ - $ - $ 112,906 Capital investment 672 6,220 - - 6,892 Company’s share of net loss of associate (253 ) (690 ) - - (943 ) Currency translation adjustments (33,772 ) (494 ) - - (34,266 ) At December 31, 2021 $ 63,313 $ 21,276 $ - $ - $ 84,589 Acquisition (disposal) of investment in associate (52,645 ) (20,633 ) 18,647 10,687 (43,944 ) Capital investment 3,818 - - - 3,818 Company’s share of net loss of associate (745 ) (478 ) (307 ) (2,124 ) (3,654 ) Currency translation adjustments (13,741 ) (165 ) (62 ) 424 (13,544 ) At December 31, 2022 $ - $ - $ 18,278 $ 8,987 $ 27,265 |
Sandbox Royalties Corp [Member] | |
Disclosure of associates [line items] | |
Summarized Financial Information of Associate | Summarized financial information for the Company’s interest in Sandbox Royalties Corp., which is incorporated in Canada, on a 100% basis and reflecting adjustments made by the Company, including fair value adjustments made at the time of acquisition and adjustments for differences in accounting policies is as follows: In $000s Year Ended Revenue $ 355 Depletion (267 ) Administration expenses (272 ) Other (expense) income (1,341 ) Total net loss $ (1,525 ) Company’s share of net loss of associate $ (307 ) In $000s As at December 31, 2022 Current Assets $ 6,615 Non-current 71,993 Total Assets $ 78,608 Current Liabilities 86 Non-current 15,975 Total Liabilities $ 16,061 Net Assets $ 62,547 Company’s share of net assets of associate 12,600 Adjustments to Sandstorm’s share of net assets 5,678 Carrying amount of investment in associate $ 18,278 |
Horizon Copper Corp [Member] | |
Disclosure of associates [line items] | |
Summarized Financial Information of Associate | Summarized financial information for the Company’s interest in Horizon Copper Corp., which is incorporated in Canada, on a 100% basis and reflecting adjustments made by the Company, including fair value adjustments made at the time of acquisition and adjustments for differences in accounting policies is as follows: In $000s Year Ended December 31, 2022 Revenue $ - Administration expenses (666 ) Other (expense) income (5,582 ) Total net loss $ (6,248 ) Company’s share of net loss of associate $ (2,124 ) In $000s As at December 31, 2022 Current Assets $ 41,360 Non-current 259,523 Total Assets $ 300,883 Current Liabilities 141 Non-current 271,163 Total Liabilities $ 271,304 Net Assets $ 29,579 Company’s share of net assets of associate 10,057 Adjustments to Sandstorm’s share of net assets (1,070 ) Carrying amount of investment in associate $ 8,987 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Disclosure of Detailed Information about Financial Instruments | As of and for the year ended December 31, 2022: In $000s Jan. 1, 2022 Additions Disposals Transfers Fair Value Adjustment Interest Revenue Dec. 31, 2022 Short-term investments Convertible debt instruments 1 $ - $ - $ - $ 1,272 $ - $ - $ 1,272 Loans receivable 3 5,001 - (2,787 ) - - 287 2,501 Total short-term investments $ 5,001 $ - $ (2,787 ) $ 1,272 $ - $ 287 $ 3,773 Non-current Common shares 2 $ 21,486 $ 10,748 $ (4,820 ) $ - $ (8,389 ) $ - $ 19,025 Warrants and other 1 1,666 - - - 422 - 2,088 Convertible debt instruments 1 904 104,972 (934 ) (1,272 ) 1,334 - 105,004 Loans receivable 3 - 33,781 (33,311 ) - - (470 ) - Total non-current $ 24,056 $ 149,501 $ (39,065 ) $ (1,272 ) $ (6,633 ) $ (470 ) $ 126,117 Total investments $ 29,057 $ 149,501 $ (41,852 ) $ - $ (6,633 ) $ (183 ) $ 129,890 1 Fair value adjustment recorded within Net Income (loss) for the period. 2 Fair value adjustment recorded within Other Comprehensive Income (loss) for the period. 3 Interest revenue recorded within Net Income (loss) for the period. As of and for the year ended December 31, 2021: In $000s Jan. 1, 2021 Additions Disposals Transfers Fair Value Adjustment Interest Dec. 31, 2021 Short-term investments Convertible debt instruments 1 $ 1,852 $ - $ (1,722) $ - $ (130) $ - $ - Loans receivable 3 15 - (176) 4,986 - 176 5,001 Total short-term investments $ 1,867 $ - $ (1,898) $ 4,986 $ (130) $ 176 $ 5,001 Non-current Common shares 2 $ 28,416 $ 20,799 $ (15,882) $ - $ (11,847) $ - $ 21,486 Vale royalties financial instrument - - (5,887) - 5,887 - - Warrants and other 1 1,143 - (99) - 622 - 1,666 Convertible debt instruments 1 15,525 - (12,470) - (2,151) - 904 Loans receivable 3 5,001 - (189) (4,986) - 174 - Total non-current $ 50,085 $ 20,799 $ (34,527) $ (4,986) $ (7,489) $ 174 $ 24,056 Total investments $ 51,952 $ 20,799 $ (36,425) $ - $ (7,619) $ 350 $ 29,057 1 Fair value adjustment recorded within Net Income (loss) for the period. 2 Fair value adjustment recorded within Other Comprehensive Income (loss) for the period. 3 Interest revenue recorded within Net Income (loss) for the period. |
Trade and Other Receivables (Ta
Trade and Other Receivables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Summary of Trade and Other Receivables | In $000s As at December 31, 2022 As at December 31, 2021 Trade receivables $ 18,265 $ 11,760 Other receivables 3,129 384 Total trade and other receivables $ 21,394 $ 12,144 |
Trade and Other Payables (Table
Trade and Other Payables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Trade and other payables [abstract] | |
Summary of Trade and Other Payables | In $000s As at December 31, 2022 As at December 31, 2021 Accounts payable and accrued liabilities $ 3,808 $ 2,234 Dividends payable 4,446 3,055 Withholding taxes payable 1,120 1,041 Other payables 1 9,667 1,017 Total trade and other payables $ 19,041 $ 7,347 1 Includes an $8.3 million payable to Horizon Copper Corp. at December 31, 2022. |
Share Capital and Reserves (Tab
Share Capital and Reserves (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Summary of Company's Options and Weighted Average Exercise Price | A summary of the Company’s options and the changes for the year is as follows: Number of options Weighted average exercise price per share (CAD) Options outstanding at December 31, 2020 9,127,103 7.33 Granted 2,968,000 7.18 Exercised (855,761) (4.96) Options outstanding at December 31, 2021 11,239,342 7.47 Granted 1 6,249,148 7.19 Exercised (1,130,218) (5.39) Expired (2,250) (15.00) Options outstanding at December 31, 2022 16,356,022 7.50 1 Includes stock options granted in conjunction with the acquisition of Nomad Royalties, which is further discussed in note 5(b). |
Summary of Share Purchase Options and Exercise Price Ranges | A summary of the Company’s options as of December 31, 2022 is as follows: Year of expiry Number outstanding Vested Exercise price per share 1 Exercise price per share 1 2023 3,156,999 3,156,999 5.92 – 7.44 6.04 2024 3,188,023 3,188,023 1.66 – 12.40 8.05 2025 2,812,000 1,874,672 9.43 9.43 2026 2,968,000 989,336 7.18 7.18 2027 4,231,000 - 7.12 - 16,356,022 9,209,030 7.55 1 Weighted average exercise price of options that are exercisable. |
Summary of the Company's Other Equity Instruments and the Changes for the Year | A summary of the Company’s warrants and the changes for the year is as follows: Number of warrants Shares to be issued upon Warrants outstanding at December 31, 2020 and December 31, 2021 - - Granted 1 2,661,012 2,661,012 Exercised (484 ) (484 ) Expired (2,418,528 ) (2,418,528 ) Warrants outstanding at December 31, 2022 242,000 242,000 1 Includes share purchase warrants granted in conjunction with the acquisition of Nomad Royalties, which is further discussed in note 5(b). |
Summary of Information of Diluted Earnings per Share | Diluted earnings per share is calculated based on the following: In $000s Year Ended Year Ended Net income attributable to Sandstorm’s shareholders for the y ear $ 78,361 $ 27,622 Basic weighted average number of shares 231,348,386 193,974,313 Basic earnings per share $ 0.34 $ 0.14 Effect of dilutive securities Stock options 1,192,958 1,684,992 Restricted share rights 1,776,836 2,164,175 Diluted weighted average number of common shares 234,318,180 197,823,480 Diluted earnings per share $ 0.33 $ 0.14 |
Number of Stock Options and Warrants Excluded from the Computation of Diluted Earnings per Share | The following table lists the number of potentially dilutive securities excluded from the computation of diluted earnings per share because the exercise prices exceeded the average market value of the common shares of CAD8.10 during the year ended December 31, 2022 (December 31, 2021 — CAD8.76). Year Ended December 31, 2022 Year Ended December 31, 2021 Stock Options 4,700,144 4,241,250 Warrants 2,225,825 - |
Summarized Financial Information of Subsidiary | Summarized financial information for the Company’s investment in this subsidiary, on a 100% basis and reflecting adjustments made by the Company, including fair value adjustments made at the time of acquisition and adjustments for differences in accounting policies is as follows: In $000s As at December 31, 2022 Current Assets $ 1,791 Non-current 81,022 Total Assets $ 82,813 Current Liabilities $ 445 Non-current - Total Liabilities $ 445 Net Assets $ 82,368 In $000s Year Ended December 31, 2022 Revenue $ 2,615 Depletion (1,656 ) Administration expenses and other 28 Income tax expense (714 ) Total net income and comprehensive income $ 273 Total net income and comprehensive income attributable to non-controlling $ 89 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Disclosure of Reconciliation of Accounting Profit Multiplied by Applicable Tax Rates to Income Tax Expense | These differences result from the following items: In $000s Year Ended December 31, 2022 Year Ended December 31, 2021 Income before income taxes $ 87,769 $ 44,853 Canadian federal and provincial income tax rates 27 % 27 % Income tax expense based on the above rates $ 23,698 $ 12,110 Increase (decrease) due to: Non-deductible $ 2,102 $ 1,627 Non-taxable (3,776 ) 348 Withholding taxes 2,975 2,178 Recognition of unrecognized losses on Horizon transaction (11,977 ) - Change in unrecognized temporary differences and other (3,703 ) 968 Income tax expense $ 9,319 $ 17,231 |
Disclosure of Deferred Tax Liabilities | The deferred tax liabilities are shown below: In $000s As at December 31, 2022 As at December 31, 2021 Non-capital $ 27,664 $ 17,405 Investments and other 2,240 274 Stream, royalty and other interests (44,688 ) (35,973) Total deferred income tax liabilities $ (14,784 ) $ (18,294) |
Disclosure of Net Deferred Income Taxes | The movement in net deferred income taxes is shown below: In $000s Year Ended December 31, 2022 Year Ended December 31, 2021 Balance, beginning of the year $ (18,294 ) $ (5,477) Recognized in net income (loss) for the year (4,058 ) (14,202) Recognized in equity 1,634 65 Recognized in other comprehensive income (loss) for the year 900 1,320 Recognized from new acquisitions in the year 5,034 - Balance, end of year $ (14,784 ) $ (18,294) |
Administration Expenses (Tables
Administration Expenses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Schedule of Administration Expenses | The administration expenses for the Company are as follows: In $000s Year Ended December 31, 2022 Year Ended December 31, 2021 Corporate administration $ 3,732 $ 3,198 Employee benefits and salaries 3,864 2,824 Professional fees 2,552 983 Administration expenses before share-based compensation $ 10,148 $ 7,005 Equity settled share-based compensation (a non-cash 3,246 3,193 Total administration expenses $ 13,394 $ 10,198 |
Supplemental Cash Flow Inform_2
Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Summary of Supplemental Cash Flow Information | In $000s Year Ended December 31, 2022 Year Ended December 31, 2021 Change in non-cash Trade receivables and other $ (5,498 ) $ (4,213 ) Trade and other payables 2,608 1,872 Net increase (decrease) in cash $ (2,890 ) $ (2,341 ) Significant non-cash Financial instrument received on disposal of Stream, royalty and other interests $ 14,123 $ - Sandbox investment in associate received on disposal of Stream, royalty and other interests 18,564 - Financial instrument received on disposal of Entrée investment in associate 33,781 - Common shares issued on acquisition of BaseCore portfolio of Stream, royalty and other interests (75,304 ) - Common shares issued on acquisition of Nomad portfolio of Stream, royalty and other interests (454,089 ) - Financial instruments received on disposal of Hod Maden investment in associate 68,348 - Financial instrument disposed of on disposal of Hod Maden investment in associate (33,311 ) - Horizon Copper investment in associate received on disposal of Hod Maden investment in associate 10,687 - Common shares received in consideration of a convertible debenture payment - 13,965 |
Key Management Compensation (Ta
Key Management Compensation (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Disclosure of Key Management Compensation | The remuneration of directors and those persons having authority and responsibility for planning, directing and controlling activities of the Company are as follows: In $000s Year Ended December 31, 2022 Year Ended December 31, 2021 Salaries and benefits $ 3,000 $ 2,588 Share-based payments 4,124 4,368 Total key management compensation expense $ 7,124 $ 6,956 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Schedule of Purchase Commitments in Connection With Commodity Streams | In connection with its Streams, the Company has committed to purchase the following: Stream % of Life of Mine Gold or Relevant Commodity Per Ounce Cash Payment: lesser of amount below and the then prevailing noted) 1 Black Fox 8% $589 Blyvoor 2 10% $572 Bonikro 3 6% $400 CEZinc 4 1% 20% of quarterly average zinc spot price Chapada 5 4.2% 30% of copper spot price Entrée 6,7 5.62% on Hugo North Extension and 4.26% on Heruga Varies Greenstone 8 2.375% 20% of gold spot price Hod Maden 9 20% 50% of gold spot price until 405,000 ounces of gold have been delivered, then 60% of gold spot price thereafter Karma 1.625% 20% of gold spot price Mercedes 10 25,200 ounces of gold over 3.5 years and 4.4% thereafter 3,750,000 ounces of silver, and 30% of silver produced thereafter Varies Platreef 11 37.5% Varies Relief Canyon 12 32,022 ounces over 5.5 years and 4% thereafter Varies Santa Elena 20% $473 South Arturo 40% 20% of silver spot price Vatukoula 13 11,022 ounces over 4 20% of gold spot price Woodlawn 14 Varies 20% of silver spot price Yamana silver stream 15 20% 30% of silver spot price 1 Subject to an annual inflationary adjustment. 2 For the Blyvoor Gold Stream, until 300,000 , Blyvoor Gold (Pty) 16,000 100,000 10.32 572 3 For the Bonikro Gold Stream, Sandstorm will receive 6% of gold produced at the mine until 39,000 ounces of gold are delivered, then 3.5% of gold produced until 61,750 cumulative 4 For the CEZinc zinc stream, the Company has committed to purchase 1.0% of the zinc produced until the later of June 30, 2030 or delivery of 68.0 5 For the Chapada copper stream, the Company has committed to purchase an amount equal to 4.2% of the copper produced (up to an annual maximum of 3.9 million pounds of copper) until the mine has delivered 39 million pounds of copper to Sandstorm; then 3.0% of the copper produced until, on a cumulative basis, the mine has delivered 50 6 For the Entrée Gold Stream, after approximately 8.6 million ounces of gold have been produced from the joint venture property, the price increases from $220 per gold ounce 7 For the Entrée copper stream, the Company has committed to purchase an amount equal to 0.42% of the copper produced from the Hugo North Extension and Heruga deposits. If the minerals produced are contained above 560 metres in depth, then the commitment increases to 0.62% for both the Hugo North Extension and Heruga deposits. Sandstorm will make ongoing per pound cash payments equal to the lesser of $0.50 and the then prevailing market price of copper, until 9.1 billion pounds of copper have been produced from the entire joint venture property. Thereafter, the ongoing per pound payments will increase to the lesser of $1.10 and the then prevailing market price of copper. 8 For Greenstone, the Gold Stream on the project is for 2.375% of gold production from the Greenstone joint venture (100% basis), until 120,333 ounces of gold have been delivered, then 1.583% thereafter. In addition to the ongoing payments of 20% of the spot price of gold 9 Under the Hod Maden Gold Stream, Sandstorm 10 Under the terms of the Mercedes Gold Stream, after receipt of 25,200 gold ounces (the cost of which is 7.5% of the spot price), the Company is entitled to purchase 4.4% of the gold produced from the Mercedes Mine for ongoing per ounce cash payments equal to 25% of the spot price of gold. Under the terms of the Mercedes silver stream, until 3,750,000 ounces of silver have been delivered under the contract (the cost of which is 20% of the spot price of silver), the Company is entitled to purchase 100% of silver produced with a minimum annual delivery requirement of 300,000 ounces per annum. After 3,750,000 ounces of silver have been delivered under the contract, the Company is entitled to purchase 30% of silver produced (the cost of which is 20% of the spot price of silver). 11 Under the terms of the Platreef Gold Stream, the Company has the right to purchase 37.5% of gold produced until 131,250 gold ounces have been delivered, 30% until an aggregate of 256,980 ounces of gold are delivered, and 1.875% thereafter if certain conditions are met. In calculating gold deliveries owing under the Stream, a fixed payability factor of 80% is applied to all gold production. Until 256,980 ounces have been delivered, Sandstorm will make ongoing payments equal to the lesser of $100 per ounce of gold and the gold market price on the business day immediately preceding the date of delivery. After 256,980 ounces have been delivered, Sandstorm will make ongoing payments of 80% of the spot price of gold for each ounce delivered. 12 For the Relief Canyon Stream, after receipt of 32,022 gold ounces (the cost of which is nil), the Company is entitled to purchase 4.0% of the gold and silver produced from the Relief Canyon Mine for ongoing per ounce cash payments equal to 30%–65% of the spot price of gold or silver, with the range dependent on the concession’s existing royalty obligations. 13 Under the terms of the amended Vatukoula Gold Stream, the Company is entitled to fixed deliveries totalling gold ounces (the cost of which is of the spot price) after January 1, 2023 (the “Vatukoula Fixed Delivery Period”). Following the Vatukoula Fixed Delivery Period, the Company is entitled to purchase for the first 100,000 ounces of gold produced in a calendar year, and for the volume of production above 100,000 ounces, with both variable delivery rates subject to upward adjustment depending on the final scale of the Company’s investment in the Vatukoula Gold Stream. 14 For the Woodlawn silver stream, Sandstorm has agreed to purchase an amount of silver equal to 80% of payable silver produced. Deliveries under the Woodlawn silver stream are capped at A$27 million. In addition, the Company holds a second stream at Woodlawn under which the operator has agreed to pay Sandstorm A$1.0 million for each 1Mt of tailings ore processed at Woodlawn, subject to a cumulative cap of A$10 million. 15 Under the terms of the Yamana silver stream, Sandstorm has agreed to purchase an amount of silver from Cerro Moro equal to 20% of the silver produced (up to an annual maximum of 1.2 million ounces of silver), until Yamana has delivered to Sandstorm |
Summary of other contractual obligations related to bank debt and interest | Contractual obligations related to bank debt and interest are as follows: In $000s Total Less than one 1-3 years Bank debt 1 $ 497,500 $ - $ 497,500 Interest 2 93,450 37,116 56,334 $ 590,950 $ 37,116 $ 553,834 1 As at December 31, 2022, the Company had $497.5 million drawn and outstanding on the Revolving Facility. The repayment date in the table above reflects the full term of the facility which matures on October 6, 2025, assuming no extension periods. 2 The amounts drawn on the Revolving Facility are subject to an interest rate of SOFR plus 1.875%–3.5% per annum, and the undrawn portion of the Revolving Facility is subject to a standby fee of 0.4219% - 0.7875% per annum, both of which are dependent on the terms of the Revolving Facility and the Company’s leverage ratio. The interest charges have been estimated based on assumptions of the Company’s future leverage ratio. The Revolving Facility incorporates sustainability-linked incentive pricing terms that allow the Company to reduce the borrowing costs from the interest rates described above as the Company’s ESG targets are met. The interest charges have been estimated based on the assumption that the Company will continue with the same pricing adjustment to the debt maturity date. As the applicable interest rate is floating in nature, the interest charges are estimated based on market forward interest rate curves at the ending of the reporting period combined with the assumption that the principal balance outstanding at December 31, 2022, does not change until the debt maturity date. |
Segmented Information (Tables)
Segmented Information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block1 [abstract] | |
Summary of Company's Reportable Operating Segments | The Company’s reportable operating segments, which are components of the Company’s business where separate financial information is available and which are evaluated on a regular basis by the Company’s Chief Executive Officer, who is For the year ended December 31, 2022: In $000s Product Sales Royalty revenue Cost of sales excluding depletion Depletion Stream, royalty and other interests impairments Gain on disposal of Stream, royalty and other interests and Other Income (loss) before taxes Cash flows from operating activities Antamina, Peru 1 Various $ - $ 4,269 $ - $ 5,676 $ - $ - $ (1,407 ) $ 1,069 Aurizona, Brazil Gold - 6,925 - 379 - - 6,546 7,925 Blyvoor, South Africa Gold 2,589 - 1,199 787 - - 603 2,083 Bonikro, Cote D’Ivoire Gold 5,243 - 2,422 3,106 - - (285 ) 3,742 Caserones, Chile Copper - 2,615 - 1,656 - - 959 2,747 Chapada, Brazil Copper 16,016 - 4,828 3,060 - - 8,128 11,188 Diavik, Canada Diamonds - 8,206 - 2,491 - - 5,715 8,056 Fruta del Norte, Ecuador Gold - 6,546 - 2,416 - - 4,130 4,757 Houndé, Burkina Faso Gold - 5,815 - 2,159 - - 3,656 3,547 Mercedes, Mexico 2 Various 14,934 - 2,001 8,144 - - 4,789 11,669 Relief Canyon, United States Gold 10,891 - - 5,121 - - 5,770 10,891 Vale Royalties, Brazil Iron Ore - 7,813 - 2,537 - - 5,276 7,618 Vatukoula, Fiji Gold 4,503 - 899 2,348 - (2,396 ) 3,652 3,604 Yamana silver stream, Argentina Silver 27,804 - 8,323 11,994 - - 7,487 19,480 Other 3 Various 15,835 8,728 3,694 7,906 1,086 (23,437 ) 35,314 21,003 Total Segments $ 97,815 $ 50,917 $ 23,366 $ 59,780 $ 1,086 $ (25,833 ) $ 90,333 $ 119,379 Corporate: Administration & Project evaluation expenses $ - $ - $ - $ - $ - $ - $ (20,828 ) $ (14,269 ) Foreign exchange loss - - - - - - (790 ) - Gain on revaluation of investments - - - - - - 1,756 - Finance (expense) income, net - - - - - - (16,477 ) 871 Gain on disposal of investment in associate - - - - - (37,396 ) 37,396 - Share of net loss of associates - - - - - - (3,654 ) - Other - - - - - 3,621 33 935 Total Corporate $ - $ - $ - $ - $ - $ (33,775 ) $ (2,564 ) $ (12,463 ) Consolidated $ 97,815 $ 50,917 $ 23,366 $ 59,780 $ 1,086 $ (59,608 ) $ 87,769 $ 106,916 1 Royalty revenue from Antamina consists of $2.9 million from copper, $0.2 million from silver and $1.2 million from other base metals. 2 Revenue from Mercedes consists of $12.4 million from gold and $2.5 million from silver. 3 Where a Stream, royalty and other interest For the year ended December 31, 2021: In $000s Product Sales Royalty revenue Cost of sales excluding Depletion Stream, royalty and other interests impairments Gain on revaluation of Vale Royalties financial instrument Income (loss) Cash flows from operating Aurizona, Brazil Gold $ - $ 9,844 $ - $ 815 $ - $ - $ 9,029 $ 9,444 Chapada, Brazil Copper 15,118 - 4,541 2,963 - - 7,614 10,577 Diavik, Canada Diamonds - 7,647 - 3,372 - - 4,275 7,097 Fruta del Norte, Ecuador Gold - 6,367 - 2,304 - - 4,063 4,465 Houndé, Burkina Faso Gold - 3,803 - 1,610 - - 2,193 3,802 Relief Canyon, United States Gold 10,499 - - 4,711 - - 5,788 10,499 Vale Royalties, Brazil Iron Ore - 4,398 - 1,444 - (5,887 ) 8,841 198 Yamana silver stream, Argentina Silver 25,460 - 7,603 10,415 - - 7,442 17,857 Other 1 Various 20,645 11,079 4,701 8,070 408 - 18,545 27,096 Total Segments $ 71,722 $ 43,138 $ 16,845 $ 35,704 $ 408 $ (5,887 ) $ 67,790 $ 91,035 Corporate: Administration & Project evaluation expenses $ - $ - $ - $ - $ - $ - $ (17,968 ) $ (11,492 ) Foreign exchange loss - - - - - - (645 ) - Loss on revaluation of investments - - - - - - (1,659 ) - Finance (expense) income, net - - - - - - (1,654 ) 38 Share of net loss of associates - - - - - - (943 ) - Other - - - - - - (68 ) 1,558 Total Corporate $ - $ - $ - $ - $ - $ - $ (22,937 ) $ (9,896 ) Consolidated $ 71,722 $ 43,138 $ 16,845 $ 35,704 $ 408 $ (5,887 ) $ 44,853 $ 81,139 1 Where a Stream, royalty and other interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and represents an interest on gold, silver or other metal, the interest has been summarized under Other. Other includes revenue from Santa Elena, Black Fox, Karma, Gualcamayo, Thunder Creek, Mine Waste Solutions, HM Claim, and others. Includes revenue from Stream, royalty and other interests located in Canada of $14.5 million, Mexico of Total assets as of: In $000s December 31, 2022 December 31, 2021 Antamina $ 339,751 $ - Aurizona 9,745 11,124 Blyvoor 105,545 - Bonikro 35,306 - Caserones 82,800 - Chapada 46,656 49,709 Diavik 5,401 7,742 Fruta del Norte 28,658 31,174 Greenstone 107,234 - Horne 5 78,934 - Hod Maden 1 206,969 69,131 Houndé 30,037 31,179 Hugo North Extension and Heruga 2 35,352 56,628 Mercedes 64,945 - Platreef 186,640 - Relief Canyon 13,796 18,910 Vale Royalties 116,856 120,543 Vatukoula 14,886 27,716 Yamana silver stream 25,969 37,954 Other 3 264,261 108,229 Total Segments $ 1,799,741 $ 570,039 Corporate: Cash and cash equivalents $ 7,029 $ 16,166 Investments 129,890 29,057 Other assets 4 38,117 5,596 Total Corporate $ 175,036 $ 50,819 Consolidated $ 1,974,777 $ 620,858 1 Includes Stream, royalty and other interests of $207.0 million at December 3 1 2 Includes S 1 3 Where a Stream, royalty and other interest represents less than 10% of the Company’s sales, gross margin or aggregate asset book value and represents an interest on gold, silver or other metal, the interest has been summarized under Other. Includes Santa Elena, Black Fox, Karma, Highland Valley, El Pilar, Cortez Complex (Robertson Deposit), Troilus, CEZinc, Gualcamayo, Thunder Creek, Mine Waste Solutions, Lobo-Marte, Agi Dagi & Kirazli, HM Claim, and others. Reportable segments that have not met the criteria for separate disclosure in the current period have been included in Other for the current and prior period. 4 Includes Sandbox and Horizon Copper investments in associates. |
Non-current Assets by Geographical Region | Non-current In $000s December 31, 2022 1 December 31, 2021 1 North America Canada $ 296,794 $ 45,917 Mexico 79,852 4,034 USA 68,496 41,660 South & Central America Peru $ 338,042 $ - Brazil 186,740 177,640 Chile 83,482 2,460 Argentina 58,493 51,627 Ecuador 27,259 29,675 French Guiana 5,160 5,160 Africa South Africa $ 294,707 $ 2,745 Burkina Faso 35,927 38,565 Cote D’Ivoire 34,667 - Other Turkey $ 210,888 $ 72,917 Mongolia 35,995 57,271 Australia 16,982 3,220 Fiji 14,886 27,590 Other 298 2,717 Consolidated $ 1,788,668 $ 563,198 1 Includes Stream, royalty and other interests and Other long-term assets at December 31, 2022. Includes Stream, royalty and other interests, Investments in associates and Other long-term assets at December 31, 2021. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Summary of Significant Accounting Policies [line items] | ||
Impairment losses recognized on financial assets | $ 0 | $ 0 |
Compania Minera Caserone ("CMC") [Member] | ||
Summary of Significant Accounting Policies [line items] | ||
Percentage of interest acquired in subsidiary | 67.50% | |
Consolidation, Basis Percentage | 100% |
Key Sources of Estimation Unc_2
Key Sources of Estimation Uncertainty and Critical Accounting Judgments - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Key Source Of Estimation Uncertainty And Critical Accounting Judgements [Abstract] | ||
Stream, royalty and other interests | $ 1,781,256 | $ 473,651 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Equity attributable to Sandstorm Gold Ltd.'s shareholders | $ 1,414,700 | $ 592,638 | |
Transfers between levels of fair value hierarchy | no | no | |
Cash and cash equivalents | $ 7,029 | $ 16,166 | $ 113,776 |
Currency Risk [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Monetary assets and liabilities currency risk percentage change | 10% | ||
Other Price Risk [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Long term investments percentage change | 10% | ||
Long term investments fair value increase (decrease) potential in other comprehensive income (loss) | $ 1,900 | ||
Interest rate risk [member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Interest rate risk, Percentage | 1% | 1% | |
Interest rate risk impact on net income | $ 2,400 | $ 0 | |
Equity Securities And Warrants And Other And Debt Securities And Loans Receivable [Member] | |||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||
Financial assets | $ 129,890 | $ 29,057 | $ 51,952 |
Financial Instruments - Financi
Financial Instruments - Financial Assets and Liabilities measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of fair value measurement of assets [line items] | ||
Short-term investments | $ 3,773 | $ 5,001 |
Long-term investments | 126,117 | 24,056 |
Recurring fair value measurement [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 127,389 | 24,056 |
Recurring fair value measurement [member] | Convertible Debt [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Short-term investments | 1,272 | |
Long-term investments | 105,004 | 904 |
Recurring fair value measurement [member] | Common Shares Held [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term investments | 19,025 | 21,486 |
Recurring fair value measurement [member] | Warrants and other [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term investments | 2,088 | 1,666 |
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 19,025 | 21,486 |
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Convertible Debt [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Short-term investments | 0 | |
Long-term investments | 0 | 0 |
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Common Shares Held [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term investments | 19,025 | 21,486 |
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | Warrants and other [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term investments | 0 | 0 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 108,364 | 2,570 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Convertible Debt [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Short-term investments | 1,272 | |
Long-term investments | 105,004 | 904 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Common Shares Held [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term investments | 0 | 0 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | Warrants and other [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term investments | 2,088 | 1,666 |
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 0 | 0 |
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Convertible Debt [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Short-term investments | 0 | |
Long-term investments | 0 | 0 |
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Common Shares Held [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term investments | 0 | 0 |
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | Warrants and other [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Long-term investments | $ 0 | $ 0 |
Stream, Royalty and Other Int_3
Stream, Royalty and Other Interests - Carrying Amount Related to Stream, Royalty and Other Agreements (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Depletion | $ 59,780 | $ 35,704 |
Impairment | 1,086 | 408 |
Carrying Amount | 1,781,256 | 473,651 |
Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 873,683 | 720,978 |
Net Additions (disposals) | 1,368,471 | 152,705 |
Ending Cost | 2,242,154 | 873,683 |
Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 400,032 | 364,366 |
Depletion | 59,780 | 35,258 |
Impairment | 1,086 | 408 |
Ending | 460,898 | 400,032 |
Other [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 262,390 | 106,356 |
Other [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 374,276 | 366,949 |
Net Additions (disposals) | 165,026 | 7,327 |
Ending Cost | 539,302 | 374,276 |
Other [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 267,920 | 259,801 |
Depletion | 7,906 | 7,711 |
Impairment | 1,086 | 408 |
Ending | 276,912 | 267,920 |
PERU | Antamina [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 336,551 | |
PERU | Antamina [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 0 | |
Net Additions (disposals) | 342,227 | |
Ending Cost | 342,227 | 0 |
PERU | Antamina [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 0 | |
Depletion | 5,676 | |
Impairment | 0 | |
Ending | 5,676 | 0 |
BRAZIL | Aurizona [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 7,845 | 8,224 |
BRAZIL | Aurizona [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 11,091 | 11,091 |
Net Additions (disposals) | 0 | 0 |
Ending Cost | 11,091 | 11,091 |
BRAZIL | Aurizona [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 2,867 | 2,052 |
Depletion | 379 | 815 |
Impairment | 0 | 0 |
Ending | 3,246 | 2,867 |
BRAZIL | Chapada Mine [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 46,656 | 49,709 |
BRAZIL | Chapada Mine [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 69,554 | 69,554 |
Net Additions (disposals) | 7 | 0 |
Ending Cost | 69,561 | 69,554 |
BRAZIL | Chapada Mine [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 19,845 | 16,882 |
Depletion | 3,060 | 2,963 |
Impairment | 0 | 0 |
Ending | 22,905 | 19,845 |
BRAZIL | Vale Royalties [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 113,806 | 116,343 |
BRAZIL | Vale Royalties [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 117,787 | 0 |
Net Additions (disposals) | 0 | 117,787 |
Ending Cost | 117,787 | 117,787 |
BRAZIL | Vale Royalties [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 1,444 | 0 |
Depletion | 2,537 | 1,444 |
Impairment | 0 | 0 |
Ending | 3,981 | 1,444 |
SOUTH AFRICA | Blyvoor [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 105,545 | |
SOUTH AFRICA | Blyvoor [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 0 | |
Net Additions (disposals) | 106,332 | |
Ending Cost | 106,332 | 0 |
SOUTH AFRICA | Blyvoor [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 0 | |
Depletion | 787 | |
Impairment | 0 | |
Ending | 787 | 0 |
SOUTH AFRICA | Platreef [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 186,640 | |
SOUTH AFRICA | Platreef [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 0 | |
Net Additions (disposals) | 186,640 | |
Ending Cost | 186,640 | 0 |
SOUTH AFRICA | Platreef [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 0 | |
Depletion | 0 | |
Impairment | 0 | |
Ending | 0 | 0 |
COTE D'IVOIRE | Bonikro [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 34,667 | |
COTE D'IVOIRE | Bonikro [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 0 | |
Net Additions (disposals) | 37,773 | |
Ending Cost | 37,773 | 0 |
COTE D'IVOIRE | Bonikro [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 0 | |
Depletion | 3,106 | |
Impairment | 0 | |
Ending | 3,106 | 0 |
CHILE | Caserones Segment [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 81,022 | |
CHILE | Caserones Segment [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 0 | |
Net Additions (disposals) | 82,678 | |
Ending Cost | 82,678 | 0 |
CHILE | Caserones Segment [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 0 | |
Depletion | 1,656 | |
Impairment | 0 | |
Ending | 1,656 | 0 |
CANADA | Diavik [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 4,051 | 6,542 |
CANADA | Diavik [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 53,134 | 53,134 |
Net Additions (disposals) | 0 | 0 |
Ending Cost | 53,134 | 53,134 |
CANADA | Diavik [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 46,592 | 43,220 |
Depletion | 2,491 | 3,372 |
Impairment | 0 | 0 |
Ending | 49,083 | 46,592 |
CANADA | Greenstone [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 107,234 | |
CANADA | Greenstone [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 0 | |
Net Additions (disposals) | 107,234 | |
Ending Cost | 107,234 | 0 |
CANADA | Greenstone [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 0 | |
Depletion | 0 | |
Impairment | 0 | |
Ending | 0 | 0 |
CANADA | Horne 5 Segment [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 78,934 | |
CANADA | Horne 5 Segment [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 0 | |
Net Additions (disposals) | 78,934 | |
Ending Cost | 78,934 | 0 |
CANADA | Horne 5 Segment [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 0 | |
Depletion | 0 | |
Impairment | 0 | |
Ending | 0 | 0 |
ECUADOR | Fruta del Norte [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 27,258 | 29,674 |
ECUADOR | Fruta del Norte [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 33,268 | 33,267 |
Net Additions (disposals) | 0 | 1 |
Ending Cost | 33,268 | 33,268 |
ECUADOR | Fruta del Norte [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 3,594 | 1,290 |
Depletion | 2,416 | 2,304 |
Impairment | 0 | 0 |
Ending | 6,010 | 3,594 |
BURKINA FASO | Hounde [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 29,020 | 31,179 |
BURKINA FASO | Hounde [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 45,120 | 45,120 |
Net Additions (disposals) | 0 | 0 |
Ending Cost | 45,120 | 45,120 |
BURKINA FASO | Hounde [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 13,941 | 12,331 |
Depletion | 2,159 | 1,610 |
Impairment | 0 | 0 |
Ending | 16,100 | 13,941 |
TURKEY | Hod Maden [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 206,969 | 5,818 |
TURKEY | Hod Maden [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 5,818 | 5,818 |
Net Additions (disposals) | 201,151 | 0 |
Ending Cost | 206,969 | 5,818 |
TURKEY | Hod Maden [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 0 | 0 |
Depletion | 0 | 0 |
Impairment | 0 | 0 |
Ending | 0 | 0 |
MONGOLIA | Hugo North Extension and Heruga [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 35,352 | 35,352 |
MONGOLIA | Hugo North Extension and Heruga [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 35,352 | 35,352 |
Net Additions (disposals) | 0 | 0 |
Ending Cost | 35,352 | 35,352 |
MONGOLIA | Hugo North Extension and Heruga [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 0 | 0 |
Depletion | 0 | 0 |
Impairment | 0 | 0 |
Ending | 0 | 0 |
MEXICO | Mercedes [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 62,665 | |
MEXICO | Mercedes [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 0 | |
Net Additions (disposals) | 70,809 | |
Ending Cost | 70,809 | 0 |
MEXICO | Mercedes [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 0 | |
Depletion | 8,144 | |
Impairment | 0 | |
Ending | 8,144 | 0 |
UNITED STATES | Relief Canyon [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 13,796 | 18,910 |
UNITED STATES | Relief Canyon [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 26,441 | 26,441 |
Net Additions (disposals) | 7 | 0 |
Ending Cost | 26,448 | 26,441 |
UNITED STATES | Relief Canyon [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 7,531 | 2,907 |
Depletion | 5,121 | 4,624 |
Impairment | 0 | 0 |
Ending | 12,652 | 7,531 |
FIJI | Vatukoula [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 14,886 | 27,590 |
FIJI | Vatukoula [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 27,590 | 0 |
Net Additions (disposals) | (10,356) | 27,590 |
Ending Cost | 17,234 | 27,590 |
FIJI | Vatukoula [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 0 | 0 |
Depletion | 2,348 | 0 |
Impairment | 0 | 0 |
Ending | 2,348 | 0 |
ARGENTINA | Yamana Silver Stream [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 25,969 | 37,954 |
ARGENTINA | Yamana Silver Stream [member] | Cost [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening Cost | 74,252 | 74,252 |
Net Additions (disposals) | 9 | 0 |
Ending Cost | 74,261 | 74,252 |
ARGENTINA | Yamana Silver Stream [member] | Accumulated Depreciation [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Opening | 36,298 | 25,883 |
Depletion | 11,994 | 10,415 |
Impairment | 0 | 0 |
Ending | $ 48,292 | $ 36,298 |
Stream, Royalty and Other Int_4
Stream, Royalty and Other Interests - Carrying Amount Related to Stream, Royalty and Other Agreements (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Depletion | $ 59,780 | $ 35,704 |
Carrying Amount | 1,781,256 | 473,651 |
Property, Plant and Equipment [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | 1,743,500 | 419,800 |
Current Period Depletion Expense [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Depletion | 35,300 | |
Current Period Depletion Expense From Prior Period Depletion in Ending Inventory [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Depletion in Ending Inventory | 400 | |
Exploration and evaluation assets [member] | ||
Reconciliation of changes in property, plant and equipment and exploration and evaluation assets [line items] | ||
Carrying Amount | $ 37,800 | $ 53,900 |
Stream, Royalty and Other Int_5
Stream, Royalty and Other Interests - Additional Information (Detail) $ in Millions | 1 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2022 $ / per_lb $ / per_Oz oz lb | Apr. 04, 2022 USD ($) oz | Nov. 30, 2022 USD ($) oz | Oct. 31, 2022 USD ($) | Sep. 30, 2022 USD ($) | Aug. 31, 2022 USD ($) $ / per_Oz $ / per_lb oz shares | Jul. 31, 2022 USD ($) oz $ / per_LB $ / per_Oz $ / per_lb lb shares | Jun. 30, 2022 USD ($) shares | Jun. 30, 2022 $ / shares | Apr. 30, 2022 USD ($) oz | Dec. 31, 2022 USD ($) $ / per_lb $ / per_Oz oz lb | |
Horizon Copper Corp [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Proportion of ownership interest in associate | 34% | 34% | |||||||||
Entree Resources [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Proportion of ownership interest in associate | 25% | ||||||||||
Hod Maden [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Cash transferred in asset acquisition | $ 10 | ||||||||||
Proportion of ownership interest in associate | 30% | ||||||||||
Sandbox Royalties [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Cash received | $ 15 | ||||||||||
Number of common shares received | shares | 34,000,000 | ||||||||||
Consideration received, acquisition-date fair value | $ 65 | ||||||||||
Price per share | $ / shares | $ 0.7 | ||||||||||
Gain on disposal of stream royalty and other interest | 22.7 | ||||||||||
Sandbox Royalties [member] | Principal Value [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Convertible promissory note receivable | $ 31.4 | ||||||||||
Sandbox Royalties [member] | Secured Convertible Promissory Note [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Maturity period | 10 years | ||||||||||
Hackett River [Member] | Sandbox Royalties [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Net smelter return royalty percentage | 2% | ||||||||||
Mason [Member] | Sandbox Royalties [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Net smelter return royalty percentage | 0.40% | ||||||||||
Converse [Member] | Sandbox Royalties [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Net smelter return royalty percentage | 1% | ||||||||||
Vittangi [Member] | Sandbox Royalties [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Net smelter return royalty percentage | 1% | ||||||||||
Prairie Creek [Member] | Sandbox Royalties [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Net smelter return royalty percentage | 1.20% | ||||||||||
Gualcamayo [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Maximum aggregate amount payable under royalty | $ 50 | ||||||||||
Ajax coppergold project [Member] | Sandbox Royalties [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Net smelter return royalty percentage | 1% | ||||||||||
Wiluna uranium project [Member] | Sandbox Royalties [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Net smelter return royalty percentage | 2% | ||||||||||
Bear Creek [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Financing package total | $ 60 | ||||||||||
Convertible Promissory Note [Member] | Horizon Copper Corp [Member] | Principal Value [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Convertible promissory note receivable | $ 95 | ||||||||||
Gold commodity type [member] | Ming gold stream [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Gain on disposal of stream royalty and other interest | $ 0.2 | ||||||||||
Proceeds on disposal of asset | $ 6.7 | ||||||||||
Time over which ounces received on disposal of asset will be received | 18 months | ||||||||||
Ounces of gold to be received on disposal of asset | oz | 1,150 | ||||||||||
Gold commodity type [member] | Greenstone [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Additional amount paid under gold stream agreement recorded as stream royalty and other interest | $ 81.7 | ||||||||||
Gold commodity type [member] | Vatukoula gold mine [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Gain on amendment of stream royalty and other interest | $ 2.4 | ||||||||||
Gold commodity type [member] | Vatukoula gold mine [Member] | Vatukoula Amendment [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Cash payment percentage of spot price | 20% | 20% | |||||||||
Fixed delivery term | 4 years 6 months | ||||||||||
Consideration paid for stream royalty and other interest contract amendment | $ 15.9 | ||||||||||
Percentage decrease in deliveries | 45% | ||||||||||
Threshold relevant weight commodity change | oz | 11,022 | ||||||||||
Mercedes Convertible Debenture [Member] | Bear Creek [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Convertible promissory note receivable | $ 22.5 | ||||||||||
Bottom of Range [member] | Gold commodity type [member] | Vatukoula gold mine [Member] | Vatukoula Amendment [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of life of mine gold or relevant commodity after fixed delivery period | 1.20% | ||||||||||
Top of Range [member] | Gold commodity type [member] | Vatukoula gold mine [Member] | Vatukoula Amendment [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of life of mine gold or relevant commodity after fixed delivery period | 1.40% | ||||||||||
NOMAD [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Number of acquirer stock options or warrants issued for each acquiree stock option or warrant previously held | shares | 1.21 | ||||||||||
Asset acquisition, Capitalized costs | $ 534.2 | ||||||||||
Asset acquisition other net assets recognized as of acquisition date | 24.3 | ||||||||||
Asset acquisition, Accounts payable and accrued liabilities recognised as of acquisition date | 9.2 | ||||||||||
Asset acquisition, Revolving credit facility recognised as of acquisition date | 56.8 | ||||||||||
NOMAD [member] | Blyvoor [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 106.2 | ||||||||||
Fair value assumption used for life of mine, years | 29 years | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis were a 5% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of 29 years. | ||||||||||
Discount rate used in current estimate of value in use | 5% | ||||||||||
NOMAD [member] | Bonikro [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 37.8 | ||||||||||
Fair value assumption used for life of mine, years | 8 years | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis were a 4% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of eight years. | ||||||||||
Discount rate used in current estimate of value in use | 4% | ||||||||||
NOMAD [member] | Caserones [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 81.5 | ||||||||||
Fair value assumption used for life of mine, years | 18 years | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis were a 4% discount rate, a long-term copper price of $3.75 per pound and an estimated mine life of 18 years. | ||||||||||
Discount rate used in current estimate of value in use | 4% | ||||||||||
Asset acquisition, Percentage of interests acquired | 67.50% | ||||||||||
Asset Acquisition Non Controlling Interest In Acquiree Recognised As Of Acquisition Date | $ 27.6 | ||||||||||
Consolidation, Basis percentage | 100% | 100% | |||||||||
NOMAD [member] | Cortez Complex Robertson Deposit [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 37.6 | ||||||||||
Fair value assumption used for life of mine, years | 14 years | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | At a gold price of less than $1,200 per ounce, the Company will receive a 1.0% NSR which will increase by 0.25% for every $200 increase in the price of gold to a maximum of 2.25% NSR at a gold price of $2,000 or greater. | ||||||||||
Discount rate used in current estimate of value in use | 5% | ||||||||||
NOMAD [member] | Greenstone [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 25.4 | ||||||||||
Fair value assumption used for life of mine, years | 20 years | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis were a 5% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of 20 years. | ||||||||||
Discount rate used in current estimate of value in use | 5% | ||||||||||
NOMAD [member] | Mercedes [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 33.2 | ||||||||||
Fair value assumption used for life of mine, years | 6 years | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis were a 5% discount rate, a long-term gold price of $1,700 per ounce, a long-term silver price of $22 per ounce and an estimated mine life of six years. | ||||||||||
Discount rate used in current estimate of value in use | 5% | ||||||||||
NOMAD [member] | Platreef [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 130.3 | ||||||||||
Fair value assumption used for life of mine, years | 18 years | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis were a 5% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of 18 years. | ||||||||||
Discount rate used in current estimate of value in use | 5% | ||||||||||
Commodity production fixed payability factor | 80% | ||||||||||
Amount paid under purchase agreement recorded as stream royalty and other interest | $ 56.3 | ||||||||||
NOMAD [member] | Gualcamayo [member] | Oxides NSR [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 2.2 | ||||||||||
Fair value assumption used for life of mine, years | 3 years | ||||||||||
Discount rate used in current estimate of value in use | 4% | ||||||||||
NOMAD [member] | Gualcamayo [member] | DCP NSR [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 16.6 | ||||||||||
Fair value assumption used for life of mine, years | 10 years | ||||||||||
Net smelter return royalty percentage | 1.50% | ||||||||||
Discount rate used in current estimate of value in use | 10% | ||||||||||
Payment Of Commercial Production Amount | $ 30 | ||||||||||
NOMAD [member] | Troilus [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 23.8 | ||||||||||
Fair value assumption used for life of mine, years | 22 years | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis were a 7% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of 22 years. | ||||||||||
Net smelter return royalty percentage | 1% | ||||||||||
Discount rate used in current estimate of value in use | 7% | ||||||||||
NOMAD [member] | 0.25 Increase In NSR [member] | Cortez Complex Robertson Deposit [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Net smelter return royalty percentage increase for every 200 dollar increase to gold price | 0.25% | ||||||||||
Gold price per ounce, Increase decrease | $ / per_Oz | 200 | ||||||||||
NOMAD [member] | Gold Price Less Than 1200 Per Ounce [Member] | Cortez Complex Robertson Deposit [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Net smelter return royalty percentage | 1% | ||||||||||
NOMAD [member] | Gold Price Of 2000 Or Greater Per Ounce [Member] | Cortez Complex Robertson Deposit [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Net smelter return royalty percentage | 2.25% | ||||||||||
Gold price per ounce | $ / per_Oz | 2,000 | 2,000 | |||||||||
NOMAD [member] | Ordinary shares [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition number of shares issued | shares | 74,400,000 | ||||||||||
NOMAD [member] | Gold commodity type [member] | Blyvoor [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_Oz | 1,700 | ||||||||||
Commodity per ounce purchase price | $ / per_Oz | 572 | 572 | |||||||||
First milestone delivery | oz | 16,000 | 16,000 | |||||||||
NOMAD [member] | Gold commodity type [member] | Bonikro [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_Oz | 1,700 | ||||||||||
Commodity per ounce purchase price | $ / per_Oz | 400 | 400 | |||||||||
First milestone delivery | oz | 39,000 | 39,000 | |||||||||
NOMAD [member] | Gold commodity type [member] | Cortez Complex Robertson Deposit [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_Oz | 1,700 | ||||||||||
NOMAD [member] | Gold commodity type [member] | Greenstone [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_Oz | 1,700 | ||||||||||
Cash payment percentage of spot price | 20% | 20% | |||||||||
Per ounce payment to fund mine level environmental and social programs | $ / per_Oz | 30 | 30 | |||||||||
NOMAD [member] | Gold commodity type [member] | Mercedes [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_Oz | 1,700 | ||||||||||
Threshold, percentage life of mine or relevant weight commodity change | oz | 9,585 | 9,585 | |||||||||
NOMAD [member] | Gold commodity type [member] | Platreef [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_Oz | 1,700 | ||||||||||
NOMAD [member] | Gold commodity type [member] | Gualcamayo [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Threshold, percentage life of mine or relevant weight commodity change | oz | 396,000 | 396,000 | |||||||||
NOMAD [member] | Gold commodity type [member] | Gualcamayo [member] | DCP NSR [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_Oz | 1,700 | ||||||||||
NOMAD [member] | Gold commodity type [member] | Troilus [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_Oz | 1,700 | ||||||||||
NOMAD [member] | Gold commodity type [member] | Initial Blyvoor Delivery Threshold [Member] | Blyvoor [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Initial Delivered Threshold | oz | 300,000 | 300,000 | |||||||||
NOMAD [member] | Gold commodity type [member] | Bonikro Delivery Threshold [Member] | Bonikro [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Second milestone delivery | oz | 61,750 | 61,750 | |||||||||
NOMAD [member] | Gold commodity type [member] | After Initial Blyvoor Delivery Threshold [Member] | Blyvoor [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
First production in a calendar year acting as milestone | oz | 100,000 | 100,000 | |||||||||
NOMAD [member] | Gold commodity type [member] | Cumulative 10.3 Million Ounces Gold Produced [Member] | Blyvoor [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Cumulative ounces of production acting as milestone | oz | 10,320,000 | 10,320,000 | |||||||||
NOMAD [member] | Gold commodity type [member] | Gold Price Less Than 1200 Per Ounce [Member] | Cortez Complex Robertson Deposit [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Gold price per ounce | $ / per_Oz | 1,200 | 1,200 | |||||||||
NOMAD [member] | Gold commodity type [member] | until 9,585 Gold ounces delivered [Member] | Mercedes [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fixed deliveries per quarter | oz | 1,000 | 1,000 | |||||||||
NOMAD [member] | Gold commodity type [member] | Until 131250 Gold Ounces Delivered [Member] | Platreef [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Threshold, percentage life of mine or relevant weight commodity change | oz | 131,250 | 131,250 | |||||||||
Percentage of life of mine gold or relevant commodity | 37.50% | 37.50% | |||||||||
NOMAD [member] | Gold commodity type [member] | Until Aggregate 256980 Gold Ounces Delivered [Member] | Platreef [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Threshold, percentage life of mine or relevant weight commodity change | oz | 256,980 | 256,980 | |||||||||
Percentage of life of mine gold or relevant commodity | 30% | 30% | |||||||||
Commodity per ounce purchase price | $ / per_Oz | 100 | 100 | |||||||||
NOMAD [member] | Gold commodity type [member] | Above 61750 Ounces [Member] | Bonikro [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of production that will be received after second milestone delivery has been reached | 2% | 2% | |||||||||
NOMAD [member] | Gold commodity type [member] | Upto 120333 Ounces [Member] | Greenstone [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
First milestone delivery | oz | 120,333 | 120,333 | |||||||||
Percentage of production that will be received until first milestone delivery has been reached | 2.375% | 2.375% | |||||||||
NOMAD [member] | Gold commodity type [member] | Above 120333 Ounces [Member] | Greenstone [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of production that will be received after first milestone delivery has been reached | 1.583% | 1.583% | |||||||||
NOMAD [member] | Gold commodity type [member] | After 396000 Gold Ounces Produced [Member] | Gualcamayo [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Net smelter return royalty percentage | 2% | ||||||||||
NOMAD [member] | Gold commodity type [member] | After 256980 Gold Ounces Delivered [Member] | Platreef [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of life of mine gold or relevant commodity | 1.875% | 1.875% | |||||||||
NOMAD [member] | Gold commodity type [member] | Above 16000 Ounces in Calendar Year [Member] | Until Total Of 300000 Ounces Have Been Delivered [Member] | Blyvoor [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of life of mine gold or relevant commodity | 5% | 5% | |||||||||
NOMAD [member] | Gold commodity type [member] | Upto 16000 Ounces In Calendar Year [Member] | Until Total Of 300000 Ounces Have Been Delivered [Member] | Blyvoor [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of life of mine gold or relevant commodity | 10% | 10% | |||||||||
NOMAD [member] | Gold commodity type [member] | Upto 39000 Ounces Delivered [Member] | Bonikro [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of production that will be received until first milestone delivery has been reached | 6% | 6% | |||||||||
NOMAD [member] | Gold commodity type [member] | Above 39000 Ounces Delivered Upto 61750 Ounces Delivered [Member] | Bonikro [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of production that will be received until second milestone delivery has been reached | 3.50% | 3.50% | |||||||||
NOMAD [member] | Gold commodity type [member] | Until 100000 Ounces Produced In A Calendar Year [Member] | After Initial Blyvoor Delivery Threshold [Member] | Blyvoor [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of life of mine gold or relevant commodity | 0.50% | 0.50% | |||||||||
NOMAD [member] | Copper commodity type [member] | Caserones [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_lb | 3.75 | ||||||||||
NSR Royalty percentage copper price per pound threshold | $ / per_lb | 1.25 | 1.25 | |||||||||
NOMAD [member] | Copper commodity type [member] | Copper Price Above 1.25 Per Pound [Member] | Caserones [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Net smelter return royalty percentage | 0.63% | ||||||||||
NOMAD [member] | Gualcamayo Oxides NSR [Member] | Gualcamayo [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis of the oxides NSR were a 4% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of three years. | ||||||||||
NOMAD [member] | Gualcamayo DCP NSR [Member] | Gualcamayo [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis of the DCP NSR were a 10% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of 10 years. | ||||||||||
NOMAD [member] | Silver commodity type [member] | Mercedes [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_Oz | 22 | ||||||||||
Threshold for change in purchase percentage of production | oz | 3,750,000 | ||||||||||
NOMAD [member] | Silver commodity type [member] | Until 3.75 million silver ounces delivered [Member] | Mercedes [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of life of mine gold or relevant commodity | 100% | 100% | |||||||||
Payment Percentage of Spot Price | 20% | 20% | |||||||||
NOMAD [member] | Silver commodity type [member] | After 3.75 Million Silver Ounces Delivered [Member] | Mercedes [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of life of mine gold or relevant commodity after fixed delivery period | 30% | ||||||||||
Basecore [member] | Antamina [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 352.1 | ||||||||||
Fair value assumption used for life of mine, years | 30 years | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis were a 4% discount rate, a long-term copper price of $3.75 per pound, a long-term zinc price of $1.20 per pound, a long-term silver price of $22 per ounce and an estimated mine life of 30 years. | ||||||||||
Discount rate used in current estimate of value in use | 4% | ||||||||||
Net Profit Interest Percentage | 1.66% | 1.66% | |||||||||
Basecore [member] | El Pilar [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 14 | ||||||||||
Fair value assumption used for life of mine, years | 17 years | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis were a 5% discount rate, a long-term copper price of $3.75 per pound and an estimated mine life of 17 years. | ||||||||||
Discount rate used in current estimate of value in use | 5% | ||||||||||
Basecore [member] | CEZinc [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 43.9 | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis were a 4% discount rate, a long-term zinc price of $1.20 per pound and estimated deliveries until 2031. | ||||||||||
Discount rate used in current estimate of value in use | 4% | ||||||||||
Percentage of zinc processed | 1% | 1% | |||||||||
Basecore [member] | Horne Five [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 78.9 | ||||||||||
Fair value assumption used for life of mine, years | 19 years | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis were a 5% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of 19 years. | ||||||||||
Net smelter return royalty percentage | 2% | ||||||||||
Discount rate used in current estimate of value in use | 5% | ||||||||||
Basecore [member] | BaseCore [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Cash transferred in asset acquisition | $ 425 | ||||||||||
Asset acquisition, Capitalized costs | $ 508.5 | ||||||||||
Basecore [member] | After Measured and Indicated Resources Exceed 5 billion CuEq [Member] | El Pilar [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Gross returns royalty percentage | 3% | 3% | |||||||||
Basecore [member] | After 85 Million Pounds Copper Produced at the Mine [Member] | El Pilar [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Gross returns royalty percentage | 1% | 1% | |||||||||
Basecore [member] | Greater than Measured Indicated Resources of 3 Billion Cu Eq [Member] | El Pilar [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Gross returns royalty percentage | 2% | 2% | |||||||||
Basecore [member] | Ordinary shares [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition number of shares issued | shares | 13,500,000 | ||||||||||
Basecore [member] | Gold commodity type [member] | Horne Five [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_Oz | 1,700 | ||||||||||
Basecore [member] | Copper commodity type [member] | Antamina [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_lb | 3.75 | ||||||||||
Basecore [member] | Copper commodity type [member] | El Pilar [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | lb | 3.75 | ||||||||||
Basecore [member] | Copper commodity type [member] | Sliding Scale NSR Commences After Production Of 85 Million Pounds Copper [Member] | El Pilar [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Threshold number of pounds of copper produced | lb | 85,000,000 | 85,000,000 | |||||||||
Basecore [member] | Silver commodity type [member] | Antamina [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | oz | 22 | ||||||||||
Basecore [member] | Copper product [member] | Asset Acquisition [Member] | Highland Valley [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Asset acquisition fair value of assets acquired | $ 19.6 | ||||||||||
Fair value assumption commodity price used | $ / per_LB | 3.75 | ||||||||||
Fair value assumption used for life of mine, years | 19 years | ||||||||||
Percentage of net profit interest | shares | 0.5 | ||||||||||
Basecore [member] | Copper product [member] | Asset Acquisition [Member] | Discount rate, measurement input [member] | Highland Valley [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Discount rate used in current estimate of value in use | 4% | ||||||||||
Basecore [member] | Zinc commodity type [member] | Antamina [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | lb | 1.2 | ||||||||||
Basecore [member] | Zinc commodity type [member] | CEZinc [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_LB | 1.2 | ||||||||||
Percentage of spot price | 20% | 20% | |||||||||
Basecore [member] | Copper equivalent commodity type [Member] | El Pilar [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Threshold percentage life of mine or relevant weight commodity change one | lb | 3,000,000,000 | 3,000,000,000 | |||||||||
Threshold percentage life of mine or relevant weight commodity change two | lb | 5,000,000,000 | 5,000,000,000 | |||||||||
Hod Maden [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Production basis percent | 100% | 100% | |||||||||
Hod Maden [member] | Horizon Copper Corp [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Acquisition of stream royalty and other interest | $ 200 | ||||||||||
Hod Maden [member] | Gold commodity type [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fair value assumption commodity price used | $ / per_Oz | 1,700 | ||||||||||
Fair value assumption used for life of mine, years | 15 years | ||||||||||
Description of key assumptions on which management has based determination of discounted cash flow | Key assumptions used in the analysis were a 5.5% discount rate, a long-term gold price of $1,700 per ounce and an estimated mine life of 15 years. | ||||||||||
Discount rate used in current estimate of value in use | 5.50% | ||||||||||
Delivery threshold | oz | 405,000 | ||||||||||
Hod Maden [member] | Gold commodity type [member] | Until Delivery Of 405000 Ounces [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of life of mine gold or relevant commodity | 20% | 20% | |||||||||
Hod Maden [member] | Gold commodity type [member] | After Delivery of 405000 Ounces [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of life of mine gold or relevant commodity | 12% | 12% | |||||||||
Commodity per ounce purchase price percentage of market price | 60% | 60% | |||||||||
Hod Maden [member] | Gold commodity type [member] | Until 405000 Ounces Gold Delivered [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Commodity per ounce purchase price percentage of market price | 50% | 50% | |||||||||
Mercedes Gold Stream [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fixed delivery term | 3 years 6 months | ||||||||||
Mercedes Gold Stream [member] | Gold commodity type [member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Fixed delivery period gold ounces delivered | oz | 25,200 | ||||||||||
Acquisition of stream royalty and other interest | $ 37.5 | ||||||||||
Mercedes Gold Stream [member] | Gold commodity type [member] | After the fixed delivery period [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Cash payment percentage of spot price | 25% | ||||||||||
Mercedes Gold Stream [member] | Gold commodity type [member] | During the fixed delivery period [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Cash payment percentage of spot price | 7.50% | ||||||||||
Mercedes Gold Stream [member] | Gold commodity type [member] | After Delivery Of 25200 Ounces Over 3.5 Years [Member] | |||||||||||
Disclosure of property plant and equipment and exploration and evaluation [line items] | |||||||||||
Percentage of life of mine gold or relevant commodity after fixed delivery period | 4.40% |
Investments in Associates - Add
Investments in Associates - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2022 | Jun. 28, 2022 | May 26, 2022 | Aug. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of associates [line items] | ||||||
Cumulative translation adjustment amount previously recorded in other comprehensive income was reclassified to profit and loss at the time of disposal of foreign operations | $ 149,473 | $ 0 | ||||
Hod Maden Associate [member] | ||||||
Disclosure of associates [line items] | ||||||
Proportion of ownership interest in associate | 30% | |||||
Gains losses recognized on disposal of associate | $ 24,900 | |||||
Cumulative translation adjustment amount previously recorded in other comprehensive income was reclassified to profit and loss at the time of disposal of foreign operations | $ 149,500 | |||||
Entree Resources Limited [member] | ||||||
Disclosure of associates [line items] | ||||||
Proportion of ownership interest in associate | 25% | |||||
Gain recognized on disposal of investment in associate | $ 12,500 | |||||
Entree Resources Limited [member] | Convertible Promissory Note [Member] | ||||||
Disclosure of associates [line items] | ||||||
Equity interest sold for consideration of promissory note | $ 33,800 | |||||
Horizon Copper Corp [member] | ||||||
Disclosure of associates [line items] | ||||||
Proportion of ownership interest in associate | 34% | 34% | ||||
Value owed to associate | $ 8,300 | |||||
Horizon Copper Corp [member] | Convertible Promissory Note [Member] | Principal Value [Member] | ||||||
Disclosure of associates [line items] | ||||||
Convertible promissory note receivable | $ 95,000 | |||||
Horizon Copper Corp [member] | Non Diluted Basis [member] | ||||||
Disclosure of associates [line items] | ||||||
Proportion of ownership interest in associate | 34% | |||||
Horizon Copper Corp [member] | Bottom of Range [member] | Fully Diluted [member] | ||||||
Disclosure of associates [line items] | ||||||
Proportion of ownership interest in associate | 20% | |||||
Sandbox Royalties Corp [member] | Non Diluted Basis [member] | ||||||
Disclosure of associates [line items] | ||||||
Proportion of ownership interest in associate | 20.10% | |||||
Sandbox Royalties Corp [member] | Bottom of Range [member] | Fully Diluted [member] | ||||||
Disclosure of associates [line items] | ||||||
Proportion of ownership interest in associate | 20% | |||||
Hod Maden [member] | ||||||
Disclosure of associates [line items] | ||||||
Cash contribution in consideration for gold stream | $ 10,000 |
Investments in Associates - Sum
Investments in Associates - Summarized Financial Information in Associate Carrying Amount Rollforward (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of associates [line items] | ||
Beginning of Year | $ 84,589 | $ 112,906 |
Acquisition (disposal) of investment in associate | (43,944) | |
Capital investment | 3,818 | 559 |
Company's share of net loss of associate | (3,654) | (943) |
Currency translation adjustments | 12,900 | 34,541 |
End of Year | 27,265 | 84,589 |
Hod Maden Associate [member] | ||
Disclosure of associates [line items] | ||
Beginning of Year | 63,313 | 96,666 |
Acquisition (disposal) of investment in associate | (52,645) | |
Capital investment | 3,818 | 672 |
Company's share of net loss of associate | (745) | (253) |
Currency translation adjustments | (13,741) | (33,772) |
End of Year | 0 | 63,313 |
Entree Resources Limited [member] | ||
Disclosure of associates [line items] | ||
Beginning of Year | 21,276 | 16,240 |
Acquisition (disposal) of investment in associate | (20,633) | |
Capital investment | 0 | 6,220 |
Company's share of net loss of associate | (478) | (690) |
Currency translation adjustments | (165) | (494) |
End of Year | 0 | 21,276 |
Sandbox Royalties Corp [member] | ||
Disclosure of associates [line items] | ||
Beginning of Year | 0 | 0 |
Acquisition (disposal) of investment in associate | 18,647 | |
Capital investment | 0 | 0 |
Company's share of net loss of associate | (307) | 0 |
Currency translation adjustments | (62) | 0 |
End of Year | 18,278 | 0 |
Horizon Copper Corp [member] | ||
Disclosure of associates [line items] | ||
Beginning of Year | 0 | 0 |
Acquisition (disposal) of investment in associate | 10,687 | |
Capital investment | 0 | 0 |
Company's share of net loss of associate | (2,124) | 0 |
Currency translation adjustments | 424 | 0 |
End of Year | 8,987 | 0 |
All Associates [Member] | ||
Disclosure of associates [line items] | ||
Capital investment | 3,818 | 6,892 |
Currency translation adjustments | $ 13,544 | $ 34,266 |
Investments in Associates - S_2
Investments in Associates - Summarized Financial Information in Associate 100% Basis and Adjustments (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of associates [line items] | ||
Depletion | $ (59,780) | $ (35,704) |
Administration expenses | (13,394) | (10,198) |
Other (expense) income | 33 | (68) |
Company's share of net loss of associate | (3,654) | $ (943) |
Sandbox Royalties Corp [member] | ||
Disclosure of associates [line items] | ||
Revenue | 355 | |
Depletion | (267) | |
Administration expenses | (272) | |
Other (expense) income | (1,341) | |
Total net loss | (1,525) | |
Company's share of net loss of associate | (307) | |
Horizon Copper Corp [member] | ||
Disclosure of associates [line items] | ||
Revenue | 0 | |
Administration expenses | (666) | |
Other (expense) income | (5,582) | |
Total net loss | (6,248) | |
Company's share of net loss of associate | $ (2,124) |
Investments in Associates - S_3
Investments in Associates - Summarized Financial Information in Associate Balance Sheet Items (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of associates [line items] | |||
Current Assets | $ 32,727 | $ 33,604 | |
Total assets | 1,974,777 | 620,858 | |
Total liabilities | 533,372 | 28,220 | |
Carrying amount of investment in associate | 27,265 | 84,589 | $ 112,906 |
Sandbox Royalties Corp [member] | |||
Disclosure of associates [line items] | |||
Current Assets | 6,615 | ||
Non-current Assets | 71,993 | ||
Total assets | 78,608 | ||
Current Liabilities | 86 | ||
Non-current Liabilities | 15,975 | ||
Total liabilities | 16,061 | ||
Net Assets | 62,547 | ||
Company's share of net assets of associate | 12,600 | ||
Adjustments to Sandstorm's share of net assets | 5,678 | ||
Carrying amount of investment in associate | 18,278 | 0 | 0 |
Horizon Copper Corp [member] | |||
Disclosure of associates [line items] | |||
Current Assets | 41,360 | ||
Non-current Assets | 259,523 | ||
Total assets | 300,883 | ||
Current Liabilities | 141 | ||
Non-current Liabilities | 271,163 | ||
Total liabilities | 271,304 | ||
Net Assets | 29,579 | ||
Company's share of net assets of associate | 10,057 | ||
Adjustments to Sandstorm's share of net assets | (1,070) | ||
Carrying amount of investment in associate | $ 8,987 | $ 0 | $ 0 |
Investments - Disclosure of Det
Investments - Disclosure of Detailed Information about Financial Instruments (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of financial assets [line items] | ||
Non-current investments, beginning | $ 24,056 | |
Current investments, beginning | 5,001 | |
Fair Value Adjustment in Other Comprehensive Income (Loss) | (8,450) | $ (11,847) |
Fair Value Adjustment in Net Income (Loss) | 1,756 | (1,659) |
Current investments, ending | 3,773 | 5,001 |
Non-current investments, ending | 126,117 | 24,056 |
Non-Current [member] | ||
Disclosure of financial assets [line items] | ||
Non-current investments, beginning | 24,056 | 50,085 |
Additions | 149,501 | 20,799 |
Disposals | (39,065) | (34,527) |
Transfers in (out) | (1,272) | (4,986) |
Fair Value Adjustment | (6,633) | (7,489) |
Interest Revenue | (470) | 174 |
Non-current investments, ending | 126,117 | 24,056 |
Non-Current [member] | Common Shares Held [member] | ||
Disclosure of financial assets [line items] | ||
Non-current investments, beginning | 21,486 | 28,416 |
Additions | 10,748 | 20,799 |
Disposals | (4,820) | (15,882) |
Transfers in (out) | 0 | 0 |
Fair Value Adjustment in Other Comprehensive Income (Loss) | (8,389) | (11,847) |
Interest Revenue | 0 | 0 |
Non-current investments, ending | 19,025 | 21,486 |
Non-Current [member] | Convertible Debt [member] | ||
Disclosure of financial assets [line items] | ||
Non-current investments, beginning | 904 | 15,525 |
Additions | 104,972 | 0 |
Disposals | (934) | (12,470) |
Transfers in (out) | (1,272) | 0 |
Fair Value Adjustment in Net Income (Loss) | 1,334 | (2,151) |
Interest Revenue | 0 | 0 |
Non-current investments, ending | 105,004 | 904 |
Non-Current [member] | Warrants and other [member] | ||
Disclosure of financial assets [line items] | ||
Non-current investments, beginning | 1,666 | 1,143 |
Additions | 0 | 0 |
Disposals | 0 | (99) |
Transfers in (out) | 0 | 0 |
Fair Value Adjustment in Net Income (Loss) | 422 | 622 |
Interest Revenue | 0 | 0 |
Non-current investments, ending | 2,088 | 1,666 |
Non-Current [member] | Vale Royalties [Member] | ||
Disclosure of financial assets [line items] | ||
Non-current investments, beginning | 0 | 0 |
Additions | 0 | |
Disposals | (5,887) | |
Transfers in (out) | 0 | |
Fair Value Adjustment in Net Income (Loss) | 5,887 | |
Interest Revenue | 0 | |
Non-current investments, ending | 0 | |
Non-Current [member] | Loan Receivable [Member] | ||
Disclosure of financial assets [line items] | ||
Non-current investments, beginning | 0 | 5,001 |
Additions | 33,781 | 0 |
Disposals | (33,311) | (189) |
Transfers in (out) | 0 | (4,986) |
Fair Value Adjustment in Net Income (Loss) | 0 | 0 |
Interest Revenue | (470) | 174 |
Non-current investments, ending | 0 | 0 |
Short-Term [member] | ||
Disclosure of financial assets [line items] | ||
Current investments, beginning | 5,001 | 1,867 |
Additions | 0 | 0 |
Disposals | (2,787) | (1,898) |
Transfers in (out) | 1,272 | 4,986 |
Fair Value Adjustment | 0 | (130) |
Interest Revenue | 287 | 176 |
Current investments, ending | 3,773 | 5,001 |
Short-Term [member] | Convertible Debt [member] | ||
Disclosure of financial assets [line items] | ||
Current investments, beginning | 0 | 1,852 |
Additions | 0 | 0 |
Disposals | 0 | (1,722) |
Transfers in (out) | 1,272 | 0 |
Fair Value Adjustment in Net Income (Loss) | 0 | (130) |
Interest Revenue | 0 | 0 |
Current investments, ending | 1,272 | 0 |
Short-Term [member] | Loan Receivable [Member] | ||
Disclosure of financial assets [line items] | ||
Current investments, beginning | 5,001 | 15 |
Additions | 0 | 0 |
Disposals | (2,787) | (176) |
Transfers in (out) | 0 | 4,986 |
Fair Value Adjustment in Net Income (Loss) | 0 | 0 |
Interest Revenue | 287 | 176 |
Current investments, ending | 2,501 | 5,001 |
Equity Securities and Warrants and Other and Debt Securities and Loans Receivable [member] | ||
Disclosure of financial assets [line items] | ||
Total investments at beginning of period | 29,057 | 51,952 |
Additions | 149,501 | 20,799 |
Disposals | (41,852) | (36,425) |
Transfers in (out) | 0 | 0 |
Fair Value Adjustment | (6,633) | (7,619) |
Interest Revenue | (183) | 350 |
Total investments at end of period | $ 129,890 | $ 29,057 |
Investments - Additional Inform
Investments - Additional Information (Detail) - USD ($) $ in Millions | 1 Months Ended | ||||
Dec. 31, 2022 | Aug. 31, 2022 | Jun. 30, 2022 | May 31, 2022 | Apr. 30, 2022 | |
Bear Creek [member] | Convertible Debenture [Member] | |||||
Investments with investee names [line items] | |||||
Convertible promissory note receivable | $ 22.5 | ||||
Lendings, interest rate | 6% | ||||
Lendings, maturity | three years | ||||
Sandbox [member] | Secured Convertible Promissory Note [Member] | |||||
Investments with investee names [line items] | |||||
Lendings, maturity | 10 years | ||||
Sandbox [member] | Secured Convertible Promissory Note [Member] | Principal Value [Member] | |||||
Investments with investee names [line items] | |||||
Convertible promissory note receivable | $ 31.4 | ||||
Sandbox [member] | Secured Convertible Promissory Note [Member] | Fair Value [Member] | |||||
Investments with investee names [line items] | |||||
Convertible promissory note receivable | $ 14.7 | ||||
Horizon Copper [member] | |||||
Investments with investee names [line items] | |||||
Promissory note receivable | $ 33.8 | ||||
Horizon Copper [member] | Convertible Debenture [Member] | |||||
Investments with investee names [line items] | |||||
Lendings, maturity | 10 years | ||||
Interest Holiday | 3-year | ||||
Days in volume weighted average price used to determine settlement amount of convertible debenture | 20 days | ||||
Maximum ownership interest in associate on settlement of debenture | 34% | ||||
Horizon Copper [member] | Convertible Debenture [Member] | Principal Value [Member] | |||||
Investments with investee names [line items] | |||||
Convertible promissory note receivable | $ 95 | ||||
Horizon Copper [member] | Convertible Debenture [Member] | Fair Value [Member] | |||||
Investments with investee names [line items] | |||||
Convertible promissory note receivable | $ 70.3 | $ 68.3 | |||
Horizon Copper [member] | Convertible Debenture [Member] | Secured Overnight Financing Rate [Member] | |||||
Investments with investee names [line items] | |||||
Lendings, adjustment to interest rate basis | 2% | ||||
Lendings, interest rate basis | SOFR | ||||
Hod maden associate [member] | Horizon Copper [member] | |||||
Investments with investee names [line items] | |||||
Percentage of sale equity interest in associate | 30% |
Trade and Other Receivables - S
Trade and Other Receivables - Summary of Trade and other Receivables (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Text block1 [abstract] | ||
Trade receivables | $ 18,265 | $ 11,760 |
Other receivables | 3,129 | 384 |
Total trade and other receivables | $ 21,394 | $ 12,144 |
Trade and Other Payables - Summ
Trade and Other Payables - Summary of Trade and Other Payables (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Trade and other payables [abstract] | ||
Accounts payable and accrued liabilities | $ 3,808 | $ 2,234 |
Dividends payable | 4,446 | 3,055 |
Withholding taxes payable | 1,120 | 1,041 |
Other payables | 9,667 | 1,017 |
Total trade and other payables | $ 19,041 | $ 7,347 |
Trade and Other Payables - Su_2
Trade and Other Payables - Summary of Trade and Other Payables (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Trade and Other Payables [Line Items] | ||
Other payables | $ 9,667 | $ 1,017 |
Horizon Copper Corp [Member] | ||
Trade and Other Payables [Line Items] | ||
Other payables | $ 8,300 |
Share Capital and Reserves - Ad
Share Capital and Reserves - Additional Information (Detail) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | |||||||||
Dec. 20, 2022 $ / shares | Oct. 04, 2022 USD ($) $ / shares shares | Sep. 29, 2022 $ / shares | Jun. 30, 2022 $ / shares | Mar. 31, 2022 $ / shares | Aug. 31, 2022 | Dec. 31, 2022 USD ($) shares yr $ / shares | Dec. 31, 2022 USD ($) shares $ / shares $ / shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2021 shares $ / shares | Dec. 31, 2020 shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||
Treasury shares authorized to purchase | shares | 18,900,000 | 18,900,000 | |||||||||
Maximum percentage share compensation arrangements relative to outstanding shares | 8.50% | ||||||||||
Average share price of entity | $ 8.1 | $ 8.76 | |||||||||
Dividend recognized as distribution to owners per share | $ 0.02 | $ 0.02 | $ 0.02 | $ 0.02 | |||||||
Proceeds from issue of ordinary shares | $ | $ 86,031 | $ 0 | |||||||||
Compañia Minera Caserones [Member] | |||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||
Percentage of interest acquired in subsidiary | 67.50% | ||||||||||
Stock Option Incentive Plan [member] | |||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||
Number of option issued | shares | 6,249,148 | 2,968,000 | |||||||||
Weighted average exercise price | $ 7.19 | 7.18 | |||||||||
Fair value of option issued | $ | $ 5,700 | $ 5,700 | |||||||||
Fair value per option | $ 1.35 | ||||||||||
Expected volatility | 34.25% | ||||||||||
Risk-free interest rate | 4.03% | ||||||||||
Dividend yield | 1.12% | ||||||||||
Expected life | yr | 3 | ||||||||||
Description of option pricing model, share options granted | BSM | ||||||||||
Weighted average share price at time of exercise of options | $ 7.82 | $ 7.74 | |||||||||
Weighted average remaining contractual life of outstanding share options | 2 years 11 months 15 days | 3 years 3 months 3 days | |||||||||
Number of options outstanding | shares | 16,356,022 | 16,356,022 | 11,239,342 | 11,239,342 | 9,127,103 | ||||||
Restricted Share Rights [member] | |||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||
Number of option issued | shares | 566,500 | ||||||||||
Fair value of option issued | $ | $ 3,000 | $ 3,000 | |||||||||
Fair value per option | $ 5.25 | ||||||||||
Shares authorized for issuance share based compensation arrangement | shares | 4,500,000 | 4,500,000 | |||||||||
Vesting term | three year | ||||||||||
Number of options outstanding | shares | 2,262,667 | 2,262,667 | |||||||||
Warrants [member] | |||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||
Weighted average share price at time of exercise for other equity instruments exercised or vested in share-based payment arrangement | $ 7.4 | ||||||||||
Number of other equity instruments outstanding in share-based payment arrangement | shares | 242,000 | 242,000 | 0 | 0 | |||||||
Weighted average exercise price of other equity instruments outstanding in share-based payment arrangement | $ 8.97 | $ 8.97 | |||||||||
Expiry date of other equity instruments | May 13, 2024 | ||||||||||
Public Share Offering [Member] | |||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||
Number of shares issued | shares | 18,055,000 | ||||||||||
Share price | $ 5.1 | ||||||||||
Proceeds from issue of ordinary shares | $ | $ 92,100 | ||||||||||
Agent Fees | $ | $ 4,600 | ||||||||||
Percentage of gross proceeds representing agent fees | 5% | ||||||||||
Employee Stock Option Incentive Plan [member] | |||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||
Number of option issued | shares | 4,231,000 | ||||||||||
Weighted average exercise price | $ 7.12 | ||||||||||
Weighted average share price granted | $ 7.12 |
Share Capital and Reserves - Su
Share Capital and Reserves - Summary of Company's Options and Weighted Average Exercise Price (Detail) - Stock Option Incentive Plan [member] | 12 Months Ended | |
Dec. 31, 2022 shares $ / shares | Dec. 31, 2021 shares $ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of options, beginning balance | shares | 11,239,342 | 9,127,103 |
Number of options, granted | shares | 6,249,148 | 2,968,000 |
Number of options, exercised | shares | (1,130,218) | (855,761) |
Number of options, expired | shares | (2,250) | |
Number of options, ending balance | shares | 16,356,022 | 11,239,342 |
Weighted average exercise price, beginning balance | $ / shares | $ 7.47 | $ 7.33 |
Weighted average exercise price, granted | $ / shares | 7.19 | 7.18 |
Weighted average exercise price, exercised | $ / shares | (5.39) | (4.96) |
Weighted average exercise price, expired | $ / shares | (15) | |
Weighted average exercise price, ending balance | $ / shares | $ 7.5 | $ 7.47 |
Share Capital and Reserves - _2
Share Capital and Reserves - Summary of Share Purchase Options (Detail) - Stock Option Incentive Plan [member] | 12 Months Ended | ||
Dec. 31, 2022 shares $ / shares | Dec. 31, 2021 shares | Dec. 31, 2020 shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares purchase options outstanding | shares | 16,356,022 | 11,239,342 | 9,127,103 |
Number of shares purchase options, vested | shares | 9,209,030 | ||
Weighted average exercise price per share | $ 7.55 | ||
Range Exercise Price 5.92 – 7.44 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Year of expiry | 2023 | ||
Number of shares purchase options outstanding | shares | 3,156,999 | ||
Number of shares purchase options, vested | shares | 3,156,999 | ||
Weighted average exercise price per share | $ 6.04 | ||
Range Exercise Price 5.92 – 7.44 [member] | Bottom of Range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Exercise price per share | 5.92 | ||
Range Exercise Price 5.92 – 7.44 [member] | Top of Range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Exercise price per share | $ 7.44 | ||
Range Exercise Price 1.66 – 12.40 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Year of expiry | 2024 | ||
Number of shares purchase options outstanding | shares | 3,188,023 | ||
Number of shares purchase options, vested | shares | 3,188,023 | ||
Weighted average exercise price per share | $ 8.05 | ||
Range Exercise Price 1.66 – 12.40 [member] | Bottom of Range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Exercise price per share | 1.66 | ||
Range Exercise Price 1.66 – 12.40 [member] | Top of Range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Exercise price per share | $ 12.4 | ||
Range Exercise Price 9.43 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Year of expiry | 2025 | ||
Number of shares purchase options outstanding | shares | 2,812,000 | ||
Number of shares purchase options, vested | shares | 1,874,672 | ||
Exercise price per share | $ 9.43 | ||
Weighted average exercise price per share | $ 9.43 | ||
Range Exercise Price 7.18 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Year of expiry | 2026 | ||
Number of shares purchase options outstanding | shares | 2,968,000 | ||
Number of shares purchase options, vested | shares | 989,336 | ||
Exercise price per share | $ 7.18 | ||
Weighted average exercise price per share | $ 7.18 | ||
Range Exercise Price 7.12 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Year of expiry | 2027 | ||
Number of shares purchase options outstanding | shares | 4,231,000 | ||
Number of shares purchase options, vested | shares | 0 | ||
Exercise price per share | $ 7.12 | ||
Weighted average exercise price per share | $ 0 |
Share Capital and Reserves - _3
Share Capital and Reserves - Summary of the Company's Other Equity Instruments and the Changes for the Year (Detail) - Warrants [member] | 12 Months Ended |
Dec. 31, 2022 shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Number of warrants, outstanding beginning balance | 0 |
Number of warrants, Granted | 2,661,012 |
Number of warrants, exercised | (484) |
Number of warrants, expired | (2,418,528) |
Number of warrants, outstanding ending balance | 242,000 |
Shares to be issued upon exercise of the warrants, outstanding beginning balance | 0 |
Shares to be issued upon exercise of the warrants, Granted | 2,661,012 |
Shares to be issued upon exercise of the warrants, exercised | (484) |
Shares to be issued upon exercise of the warrants, expired | (2,418,528) |
Shares to be issued upon exercise of the warrants, outstanding ending balance | 242,000 |
Share Capital and Reserves - _4
Share Capital and Reserves - Summary of Information of Diluted Earnings per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Earnings per share [abstract] | ||
Net income attributable to Sandstorm's shareholders for the year | $ 78,361 | $ 27,622 |
Basic weighted average number of shares | 231,348,386 | 193,974,313 |
Basic earnings per share | $ 0.34 | $ 0.14 |
Effect of dilutive stock options | 1,192,958 | 1,684,992 |
Effect of dilutive restricted share rights | 1,776,836 | 2,164,175 |
Diluted weighted average number of common shares | 234,318,180 | 197,823,480 |
Diluted earnings per share | $ 0.33 | $ 0.14 |
Share Capital and Reserves - Nu
Share Capital and Reserves - Number of Stock Options and Warrants Excluded from the Computation of Diluted Earnings per Share (Detail) - shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Stock Option Incentive Plan [member] | ||
Earnings per share [line items] | ||
Equity securities excluded from the calculation of diluted earnings per share | 4,700,144 | 4,241,250 |
Warrants [member] | ||
Earnings per share [line items] | ||
Equity securities excluded from the calculation of diluted earnings per share | 2,225,825 | 0 |
Share Capital and Reserves - _5
Share Capital and Reserves - Summarized Financial Information of Subsidiary (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of subsidiaries [line items] | ||
Current Assets | $ 32,727 | $ 33,604 |
Total assets | 1,974,777 | 620,858 |
Total liabilities | 533,372 | 28,220 |
Depletion | (59,780) | (35,704) |
Income tax expense | (9,319) | (17,231) |
Total comprehensive income (loss) for the year | 207,469 | $ (17,446) |
Compañia Minera Caserones [Member] | ||
Disclosure of subsidiaries [line items] | ||
Current Assets | 1,791 | |
Non-current Assets | 81,022 | |
Total assets | 82,813 | |
Current Liabilities | 445 | |
Non-current Liabilities | 0 | |
Total liabilities | 445 | |
Net Assets | 82,368 | |
Revenue | 2,615 | |
Depletion | (1,656) | |
Administration expenses and other | 28 | |
Income tax expense | (714) | |
Total comprehensive income (loss) for the year | 273 | |
Total net income and comprehensive income attributable to non-controlling interests | $ 89 |
Revolving Facility and Deferr_2
Revolving Facility and Deferred Financing Costs - Additional Information (Detail) $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 25 Months Ended | |||
Dec. 31, 2022 USD ($) | Aug. 31, 2022 USD ($) | Jul. 31, 2022 USD ($) | Mar. 31, 2023 | Sep. 30, 2023 | Dec. 31, 2022 USD ($) | Oct. 31, 2025 | Dec. 31, 2021 USD ($) | |
Disclosure of detailed information about borrowings [line items] | ||||||||
Uncommitted accordion credit facility | $ 125 | $ 125 | ||||||
Revolving Facility [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Available credit facility | 500 | |||||||
Borrowings, interest rate basis | SOFR | |||||||
Maturity of credit facility | October 2025 | |||||||
Borrowings Maximum Leverage Ratio | 4.75 | 4.25 | 4 | |||||
Borrowings required interest coverage ratio | 3 | |||||||
Borrowings | $ 497.5 | $ 497.5 | ||||||
Deferred financing costs | $ 3.9 | $ 3.9 | $ 2.6 | |||||
Revolving Facility [member] | Bottom of range [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowings standby fee percentage | 0.422% | 0.422% | ||||||
Revolving Facility [member] | Bottom of range [member] | Floating Interest Rate [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowings, adjustment to interest rate basis | 1.875% | 1.875% | ||||||
Revolving Facility [member] | Top of range [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowings standby fee percentage | 0.788% | 0.788% | ||||||
Revolving Credit Facility [Member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Maximum borrowings available | $ 625 | $ 625 | ||||||
Revolving Credit Facility [Member] | Top of range [member] | Floating Interest Rate [member] | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Borrowings, adjustment to interest rate basis | 3.50% | 3.50% |
Income Taxes - Disclosure of Re
Income Taxes - Disclosure of Reconciliation of Accounting Profit Multiplied by Applicable Tax Rates to Income Tax Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Major components of tax expense (income) [abstract] | ||
Income before income taxes | $ 87,769 | $ 44,853 |
Canadian federal and provincial income tax rates | 27% | 27% |
Income tax expense based on the above rates | $ 23,698 | $ 12,110 |
Non-deductible expenses and permanent differences | 2,102 | 1,627 |
Non-taxable portion of capital gain or loss | (3,776) | 348 |
Withholding taxes | 2,975 | 2,178 |
Recognition of unrecognized losses on Horizon transaction | (11,977) | 0 |
Change in unrecognized temporary differences and other | (3,703) | 968 |
Income tax expense | $ 9,319 | $ 17,231 |
Income Taxes - Disclosure of De
Income Taxes - Disclosure of Deferred Tax Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Total deferred income tax liabilities | $ (14,784) | $ (18,294) | $ (5,477) |
Non-capital Losses [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Total deferred income tax liabilities | 27,664 | 17,405 | |
Investments and other [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Total deferred income tax liabilities | 2,240 | 274 | |
Stream, royalty and other interests [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Total deferred income tax liabilities | $ (44,688) | $ (35,973) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Major components of tax expense (income) [abstract] | ||
Tax losses for which deferred tax assets recognized | $ 102.5 | $ 64.5 |
Unused tax losses for which no deferred tax asset recognized | $ 15.6 | $ 15.1 |
Income Taxes - Movement in Defe
Income Taxes - Movement in Deferred Tax Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Balance, beginning of the year | $ (18,294) | $ (5,477) |
Recognized in net income (loss) for the year | (4,058) | (14,202) |
Recognized in equity | 1,634 | 65 |
Recognized in other comprehensive income (loss) for the year | 900 | 1,320 |
Recognized from new acquisitions in the year | 5,034 | 0 |
Balance, end of year | $ (14,784) | $ (18,294) |
Administration Expenses - Sched
Administration Expenses - Schedule of Administration Expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of general and administrative expenses [abstract] | ||
Corporate administration | $ 3,732 | $ 3,198 |
Employee benefits and salaries | 3,864 | 2,824 |
Professional fees | 2,552 | 983 |
Administration expenses before share based compensation | 10,148 | 7,005 |
Equity settled share based compensation (a non-cash expense) | 3,246 | 3,193 |
Total administration expenses | $ 13,394 | $ 10,198 |
Supplemental Cash Flow Inform_3
Supplemental Cash Flow Information - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Supplemental Cash Flow Information | ||
Trade receivables and other | $ (5,498) | $ (4,213) |
Trade and other payables | 2,608 | 1,872 |
Net increase (decrease) in cash | (2,890) | (2,341) |
Significant non-cash transactions: | ||
Financial instrument received on disposal of Stream, royalty and other interests | 14,123 | 0 |
Sandbox investment in associate received on disposal of Stream, royalty and other interests | 18,564 | 0 |
Financial instrument received on disposal of Entrée investment in associate | 33,781 | 0 |
Common shares issued on acquisition of BaseCore portfolio of Stream, royalty and other interests | (75,304) | 0 |
Common shares issued on acquisition of Nomad portfolio of Stream, royalty and other interests | (454,089) | 0 |
Financial instruments received on disposal of Hod Maden investment in associate | 68,348 | 0 |
Financial instrument disposed of on disposal of Hod Maden investment in associate | (33,311) | 0 |
Horizon Copper investment in associate received on disposal of Hod Maden investment in associate | 10,687 | 0 |
Common shares received in consideration of a convertible debenture payment | $ 0 | $ 13,965 |
Key Management Compensation - D
Key Management Compensation - Disclosure of Key Management Compensation (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of key management compensation [Abstract] | ||
Salaries and benefits | $ 3,000 | $ 2,588 |
Share-based payments | 4,124 | 4,368 |
Total key management compensation expense | $ 7,124 | $ 6,956 |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Purchase Commitments in Connection With Commodity Streams (Detail) | Dec. 31, 2022 $ / per_Oz oz |
Gold Commodity Type [member] | Black Fox [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 8% |
Gold Commodity Type [member] | Black Fox [member] | Lesser of 589 and Prevailing Market Price [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price | $ / per_Oz | 589 |
Gold Commodity Type [member] | Karma [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 1.625% |
Commodity per ounce purchase price percentage of market price | 20% |
Gold Commodity Type [member] | Santa Elena [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 20% |
Gold Commodity Type [member] | Santa Elena [member] | Lesser of 473 and prevailing market price [member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price | $ / per_Oz | 473 |
Gold Commodity Type [member] | Relief Canyon [member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | oz | 32,022 |
Gold Commodity Type [member] | Relief Canyon [member] | After 32,022 Ounces Over 5.5 Years [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 4% |
Gold Commodity Type [member] | Vatukoula [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price percentage of market price | 20% |
Threshold, percentage life of mine or relevant weight commodity change | oz | 11,022 |
Gold Commodity Type [member] | Vatukoula [Member] | Above 100000 Ounces Produced In Calendar Year [Member] | After 11,022 Ounces Over 4.5 Years [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 1.199% |
Gold Commodity Type [member] | Vatukoula [Member] | Upto First 100000 Ounces Produced In Calendar Year [Member] | After 11,022 Ounces Over 4.5 Years [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 1.363% |
Gold Commodity Type [member] | Hod Maden [member] | Upto Delivery of 405000 Ounces of Gold [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 20% |
Commodity per ounce purchase price percentage of market price | 50% |
Gold Commodity Type [member] | Hod Maden [member] | After Delivery of 405,000 Ounces of Gold [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price percentage of market price | 60% |
Gold Commodity Type [member] | Greenstone [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price percentage of market price | 20% |
Gold Commodity Type [member] | Greenstone [Member] | Upto Delivery of 120333 Ounces of Gold [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 2.375% |
Gold Commodity Type [member] | Mercedes [Member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | oz | 25,200 |
Gold Commodity Type [member] | Mercedes [Member] | After Delivery of 25,200 Ounces of Gold [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 4.40% |
Gold Commodity Type [member] | Platreef [Member] | Upto Delivery of 131250 Ounces of Gold [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 37.50% |
Gold Commodity Type [member] | Blyvoor [Member] | Lesser of 572 and Prevailing Market Price [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price | $ / per_Oz | 572 |
Gold Commodity Type [member] | Blyvoor [Member] | Up to First 16,000 Ounces of Gold Produced Per Annum [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 10% |
Gold Commodity Type [member] | Bonikro [Member] | Lesser of 400 and Prevailing Market Price [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price | $ / per_Oz | 400 |
Gold Commodity Type [member] | Bonikro [Member] | Upto Delivery of 39000 Ounces of Gold [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 6% |
Copper Commodity Type [member] | Chapada Mine [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 4.20% |
Commodity per ounce purchase price percentage of market price | 30% |
Gold and Silver Commodity Type [member] | Hugo North Extension [member] | Below 560 Metres Threshold [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 5.62% |
Gold and Silver Commodity Type [member] | Heruga [member] | Below 560 Metres Threshold [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 4.26% |
Silver Commodity Type [member] | Yamana Silver Stream [member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price percentage of market price | 30% |
Threshold, percentage life of mine or relevant weight commodity change | oz | 7,000,000 |
Silver Commodity Type [member] | Yamana Silver Stream [member] | Up to delivery of 7 million ounces [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 20% |
Silver Commodity Type [member] | Mercedes [Member] | After Delivery of 3,750,000 Ounces of Silver [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 30% |
Silver Commodity Type [member] | South Arturo [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 40% |
Commodity per ounce purchase price percentage of market price | 20% |
Silver Commodity Type [member] | Woodlawn [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price percentage of market price | 20% |
Zinc Commodity Type [Member] | CEZinc [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 1% |
Commodity per ounce purchase price percentage of market price | 20% |
Commitments and Contingencies_2
Commitments and Contingencies - Schedule of Purchase Commitments in Connection With Commodity Streams (Parenthetical) (Detail) lb in Millions, $ in Millions | Dec. 31, 2022 AUD ($) $ / per_Oz $ / per_LB oz lb |
Gold Commodity Type [member] | Relief Canyon [Member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | 32,022 |
Gold Commodity Type [member] | Vatukoula [Member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | 11,022 |
Commodity per ounce purchase price percentage of market price | 20% |
Gold Commodity Type [member] | Blyvoor Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price | $ / per_Oz | 572 |
Initial delivered threshold production | 300,000 |
Threshold cumulative commodity production | 10,320,000 |
Gold Commodity Type [member] | Bonikro Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price | $ / per_Oz | 400 |
Gold Commodity Type [member] | Greenstone Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price percentage of market price | 20% |
Per ounce payment to fund mine level environmental and social programs | $ / per_Oz | 30 |
Gold Commodity Type [member] | Mercedes Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | 25,200 |
Gold Commodity Type [member] | Platreef Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Payability factor | 80% |
Gold Commodity Type [member] | During Fixed Delivery Period [member] | Relief Canyon [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price | $ / per_Oz | 0 |
Gold Commodity Type [member] | Until 39,000 Ounces [Member] | Bonikro Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | 39,000 |
Gold Commodity Type [member] | Thereafter 120333 Ounces of Gold [Member] | Greenstone Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | 120,333 |
Gold Commodity Type [member] | Until 131250 Gold Ounces Delivered [Member] | Platreef Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | 131,250 |
Percentage of life of mine gold or relevant commodity | 37.50% |
Gold Commodity Type [member] | After 256980 Gold Ounces Delivered [Member] | Platreef Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 1.875% |
Gold Commodity Type [member] | After 11,022 Ounces Delivered [Member] | Vatukoula [Member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | 11,022 |
Gold Commodity Type [member] | After 120,333 Ounces Delivered [Member] | Greenstone Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 1.583% |
Gold Commodity Type [member] | After 25,200 Ounces Delivered [Member] | Mercedes Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 4.40% |
Commodity per ounce purchase price percentage of market price | 25% |
Gold Commodity Type [member] | Until 25,200 Ounces Delivered [Member] | Mercedes Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price percentage of market price | 7.50% |
Gold Commodity Type [member] | Above 100000 Ounces Produced In Calendar Year [Member] | Vatukoula [Member] | After Delivery of 11,022 Gold Ounces [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 1.199% |
Gold Commodity Type [member] | Upto First 16000 Ounces Of Gold Delivered In Calendar Year [Member] | Blyvoor Gold Stream [Member] | Until 300,000 Total Ounces Delivered [Member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | 16,000 |
Percentage of life of mine gold or relevant commodity | 10% |
Gold Commodity Type [member] | After 16000 Ounces Of Gold Delivered In Calendar Year [Member] | Blyvoor Gold Stream [Member] | Until 300,000 Total Ounces Delivered [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 5% |
Gold Commodity Type [member] | Upto First 100000 Ounces Produced In Calendar Year [Member] | Vatukoula [Member] | After 11,022 Total Ounces Delivered [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 1.363% |
Gold Commodity Type [member] | Upto First 100000 Ounces Received In Calendar Year [Member] | Blyvoor Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity Production Limit | 100,000 |
Gold Commodity Type [member] | Upto First 100000 Ounces Received In Calendar Year [Member] | Blyvoor Gold Stream [Member] | After 300000 Ounces Delivered Until 10320000 Ounces Produced [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of commodity received on production | 0.50% |
Gold Commodity Type [member] | Until 39000 Ounces Delivered [Member] | Bonikro Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 6% |
Gold Commodity Type [member] | From 39000 Ounces To 61750 Ounces Delivered [Member] | Bonikro Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | 61,750 |
Percentage of life of mine gold or relevant commodity | 3.50% |
Gold Commodity Type [member] | After 61750 Ounces Delivered [Member] | Bonikro Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 2% |
Gold Commodity Type [member] | Until 120333 Ounces Of Gold Delivered [Member] | Greenstone Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 2.375% |
Percentage basis | 100% |
Gold Commodity Type [member] | Until 405000 Ounces Gold Delivered [Member] | Hod Maden [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 20% |
Commodity per ounce purchase price percentage of market price | 50% |
Percentage basis | 100% |
Gold Commodity Type [member] | After 405000 Ounces Of Gold Delivered [Member] | Hod Maden [member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | 405,000 |
Percentage of life of mine gold or relevant commodity | 12% |
Commodity per ounce purchase price percentage of market price | 60% |
Gold Commodity Type [member] | Until Aggregate 256980 Gold Ounces Delivered [Member] | Platreef Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price | $ / per_Oz | 100 |
Threshold, percentage life of mine or relevant weight commodity change | 256,980 |
Gold Commodity Type [member] | After 8.6 Million Ounces Produced [member] | The Lesser of $500 and Prevailing Market Price [member] | Hugo North Extension and Heruga [member] | Top of Range [member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price | $ / per_Oz | 500 |
Gold Commodity Type [member] | Until 8.6 Million Ounces produced [Member] | The Lesser of $220 and Prevailing Market Price [member] | Hugo North Extension and Heruga [member] | Bottom of Range [member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price | $ / per_Oz | 220 |
Gold Commodity Type [member] | After 131250 Ounces Delivered Until Aggregate 256980 Gold Ounces Delivered [Member] | Platreef Gold Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 30% |
Gold Commodity Type [member] | Upto 11,022 Ounces Delivered [member] | Vatukoula [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price percentage of market price | 20% |
Copper Commodity Type [member] | Chapada Mine [member] | |
Commitments and Contingencies [Line Items] | |
Threshold, annual maximum measurement weight commodity purchase | lb | 3.9 |
Percentage of life of mine gold or relevant commodity | 4.20% |
Commodity per ounce purchase price percentage of market price | 30% |
Copper Commodity Type [member] | Hugo North Extension and Heruga [member] | |
Commitments and Contingencies [Line Items] | |
Threshold, purchase price per measurement weight change | lb | 9,100 |
Copper Commodity Type [member] | Below 560 Metres Threshold [member] | Hugo North Extension and Heruga [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 0.42% |
Copper Commodity Type [member] | Above 560 Metres Threshold [member] | Hugo North Extension and Heruga [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 0.62% |
Copper Commodity Type [member] | Before 9.1 Billion Pounds Produced [member] | The Lesser of $.50 and Prevailing Market Price [member] | Hugo North Extension and Heruga [member] | |
Commitments and Contingencies [Line Items] | |
Commodity per pound purchase price | $ / per_LB | 0.5 |
Copper Commodity Type [member] | After 9.1 Billion Pounds Produced [member] | The Lesser of $1.10 and Prevailing Market Price [member] | Hugo North Extension and Heruga [member] | |
Commitments and Contingencies [Line Items] | |
Commodity per pound purchase price | $ / per_LB | 1.1 |
Copper Commodity Type [member] | Before Chapada Copper Stream Delivers 39 Million Pounds [Member] | Chapada Mine [member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | lb | 39 |
Percentage of life of mine gold or relevant commodity | 4.20% |
Copper Commodity Type [member] | Above 39 Million Pounds And Less Than 50 Million Pounds Threshold [member] | Chapada Mine [member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | lb | 50 |
Percentage of life of mine gold or relevant commodity | 3% |
Copper Commodity Type [member] | Above 50 Million Pounds [member] | Chapada Mine [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 1.50% |
Gold and Silver Commodity Type [member] | Relief Canyon [Member] | Bottom of Range [member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price percentage of market price | 30% |
Gold and Silver Commodity Type [member] | Relief Canyon [Member] | Top of Range [member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price percentage of market price | 65% |
Gold and Silver Commodity Type [member] | Below 560 Metres Threshold [member] | Hugo North Extension [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 5.62% |
Gold and Silver Commodity Type [member] | Below 560 Metres Threshold [member] | Heruga [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 4.26% |
Gold and Silver Commodity Type [member] | Above 560 Metres Threshold [member] | Hugo North Extension [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 8.43% |
Gold and Silver Commodity Type [member] | Above 560 Metres Threshold [member] | Heruga [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 6.39% |
Gold and Silver Commodity Type [member] | After 32022 Ounces Delivered [Member] | Relief Canyon [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 4% |
Silver Commodity Type [member] | Yamana Silver Stream [member] | |
Commitments and Contingencies [Line Items] | |
Threshold, annual maximum measurement weight commodity purchase | 1,200,000 |
Threshold, percentage life of mine or relevant weight commodity change | 7,000,000 |
Commodity per ounce purchase price percentage of market price | 30% |
Silver Commodity Type [member] | Woodlawn Silver Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 80% |
Aggregate maximum delivery threshold | $ | $ 27 |
Payment per million tones ore processed | $ | 1 |
Aggregate cumulative cap delivery | $ | $ 10 |
Silver Commodity Type [member] | Before 40.3 million ounces produced from property [member] | The Lesser of $5 and Prevailing Market Price [member] | Hugo North Extension and Heruga [member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price | $ / per_Oz | 5 |
Silver Commodity Type [member] | After 40.3 Million Ounces Produced [member] | The Lesser of $10 and Prevailing Market Price [member] | Hugo North Extension and Heruga [member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price | $ / per_Oz | 10 |
Silver Commodity Type [member] | Below 7 Million Ounces Threshold [member] | Yamana Silver Stream [member] | Annual Maximum Of 1.2 Million Ounces [Member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 20% |
Silver Commodity Type [member] | Above 7 Million Ounces Threshold [member] | Yamana Silver Stream [member] | |
Commitments and Contingencies [Line Items] | |
Percentage of life of mine gold or relevant commodity | 9% |
Silver Commodity Type [member] | Until 3750000 Ounces of Silver [Member] | Mercedes Silver Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | 3,750,000 |
Silver Commodity Type [member] | Until 3750000 Ounces of Silver Delivered [Member] | Mercedes Silver Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Commodity per ounce purchase price percentage of market price | 20% |
Percentage of commodity production purchased | 100% |
Minimum Annual Delivery Requirement Per Annum | 300,000 |
Silver Commodity Type [member] | After 3750000 Ounces of Silver Delivered [Member] | Mercedes Silver Stream [Member] | |
Commitments and Contingencies [Line Items] | |
Threshold, percentage life of mine or relevant weight commodity change | 3,750,000 |
Commodity per ounce purchase price percentage of market price | 20% |
Percentage of commodity production purchased | 30% |
Zinc Commodity [Member] | CEZinc zinc stream [Member] | |
Commitments and Contingencies [Line Items] | |
Maximum total delivery of commodity | lb | 68 |
Percentage of life of mine gold or relevant commodity | 1% |
Commitments and Contingencies_3
Commitments and Contingencies - Additional information (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Office Space [Member] | |
Commitments and Contingencies [Line Items] | |
Lease term | 12 years |
Minimum lease payments | $ 25,000 |
Horizon Copper [Member] | |
Commitments and Contingencies [Line Items] | |
Line of credit maximum lending facility | $ 150,000 |
Lendings, maturity | August 31, 2032 |
Lendings balance | $ 0 |
Maximum threshold percentage of equity Interest holding | 34% |
Horizon Copper [Member] | Bottom of Range [member] | |
Commitments and Contingencies [Line Items] | |
Lendings, adjustment to interest rate basis | 2% |
Horizon Copper [Member] | Top of Range [member] | |
Commitments and Contingencies [Line Items] | |
Lendings, adjustment to interest rate basis | 3.50% |
Colossus Minerals Inc [Member] | Forecast [Member] | |
Commitments and Contingencies [Line Items] | |
Estimated Severance claims | $ 8,000 |
Commitments and Contingencies_4
Commitments and Contingencies - Schedule of other contractual obligation related to bank debt and interest (Detail) - Revolving Credit Facility [Member] $ in Thousands | Dec. 31, 2022 USD ($) |
Commitments and Contingencies [Line Items] | |
Bank debt | $ 497,500 |
Interest | 93,450 |
Total contractual obligations | 590,950 |
Less than one year [member] | |
Commitments and Contingencies [Line Items] | |
Bank debt | |
Interest | 37,116 |
Total contractual obligations | 37,116 |
1-3 years [member] | |
Commitments and Contingencies [Line Items] | |
Bank debt | 497,500 |
Interest | 56,334 |
Total contractual obligations | $ 553,834 |
Commitments and Contingencies_5
Commitments and Contingencies - Schedule of other contractual obligation related to bank debt and interest (Parenthetical) (Detail) $ in Millions | Dec. 31, 2022 USD ($) |
Revolving Facility [member] | |
Commitments and Contingencies [Line Items] | |
Borrowings | $ 497.5 |
Revolving Facility [member] | Secured Overnight Financing Rate Data [Member] | Bottom of Range [member] | |
Commitments and Contingencies [Line Items] | |
Borrowings, adjustment to interest rate basis | 1.875% |
Revolving Facility [member] | Secured Overnight Financing Rate Data [Member] | Top of Range [member] | |
Commitments and Contingencies [Line Items] | |
Borrowings, adjustment to interest rate basis | 3.50% |
Undrawn Revolving Facility [Member] | Secured Overnight Financing Rate Data [Member] | Bottom of Range [member] | |
Commitments and Contingencies [Line Items] | |
Standby fee percentage on undrawn portion of revolving facility | 0.4219% |
Undrawn Revolving Facility [Member] | Secured Overnight Financing Rate Data [Member] | Top of Range [member] | |
Commitments and Contingencies [Line Items] | |
Standby fee percentage on undrawn portion of revolving facility | 0.7875% |
Segment Information - Summary o
Segment Information - Summary of Company's Reportable Operating Segments (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Total revenue | $ 148,732 | $ 114,860 | |
Cost of sales, excluding depletion | 23,366 | 16,845 | |
Depletion | 59,780 | 35,704 | |
Stream, royalty and other interests impairments | 1,086 | 408 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | (5,887) | |
Gain on disposal of stream, royalty and other interests and Other | (59,608) | ||
Income (loss) before taxes | 87,769 | 44,853 | |
Cash flow from operating activities | 106,916 | 81,139 | |
Cash and cash equivalents | 7,029 | 16,166 | $ 113,776 |
Assets | 1,974,777 | 620,858 | |
Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 23,366 | 16,845 | |
Depletion | 59,780 | 35,704 | |
Stream, royalty and other interests impairments | 1,086 | 408 | |
Gain on revaluation of Vale Royalties financial instrument | (5,887) | ||
Gain on disposal of stream, royalty and other interests and Other | (25,833) | ||
Income (loss) before taxes | 90,333 | 67,790 | |
Cash flow from operating activities | 119,379 | 91,035 | |
Assets | 1,799,741 | 570,039 | |
Operating segments [member] | FIJI | Vatukoula [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 14,886 | 27,716 | |
Material Reconciling Items [member] | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 0 | 0 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | (33,775) | ||
Income (loss) before taxes | (2,564) | (22,937) | |
Cash flow from operating activities | (12,463) | (9,896) | |
Cash and cash equivalents | 7,029 | 16,166 | |
Investments | 129,890 | 29,057 | |
Other assets | 38,117 | 5,596 | |
Assets | 175,036 | 50,819 | |
Material Reconciling Items [member] | Administrative and Project Evaluation Expenses [member] | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 0 | 0 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | (20,828) | (17,968) | |
Cash flow from operating activities | (14,269) | (11,492) | |
Material Reconciling Items [member] | Foreign exchange gain loss [member] | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 0 | 0 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | (790) | (645) | |
Cash flow from operating activities | 0 | 0 | |
Material Reconciling Items [member] | Gain on revaluation of investments [member] | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 0 | 0 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | 1,756 | (1,659) | |
Cash flow from operating activities | 0 | 0 | |
Material Reconciling Items [member] | Finance (expense) income, net | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 0 | 0 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | (16,477) | (1,654) | |
Cash flow from operating activities | 871 | 38 | |
Material Reconciling Items [member] | Other income statement line item [member] | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 0 | 0 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 3,621 | ||
Income (loss) before taxes | 33 | (68) | |
Cash flow from operating activities | 935 | 1,558 | |
Material Reconciling Items [member] | Gain on Disposal of Investment in Associate [Member] | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | ||
Depletion | 0 | ||
Stream, royalty and other interests impairments | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | (37,396) | ||
Income (loss) before taxes | 37,396 | ||
Cash flow from operating activities | 0 | ||
Material Reconciling Items [member] | Share of net loss of associates [Member] | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 0 | 0 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | (3,654) | (943) | |
Cash flow from operating activities | 0 | 0 | |
Antamina Segment [Member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 339,751 | 0 | |
Aurizona Segment [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 9,745 | 11,124 | |
Blyvoor Segment [Member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 105,545 | 0 | |
Bonikro Segment [Member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 35,306 | 0 | |
Caserones Segment [Member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 82,800 | 0 | |
Chapada [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 46,656 | 49,709 | |
Diavik [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 5,401 | 7,742 | |
Fruta del Norte [Member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 28,658 | 31,174 | |
Horne 5 Segment [Member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 78,934 | 0 | |
Hod Maden [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 206,969 | 69,131 | |
Hounde [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 30,037 | 31,179 | |
Greenstone Segment [Member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 107,234 | 0 | |
Mercedes Segment [Member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 64,945 | 0 | |
Platreef Segment [Member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 186,640 | 0 | |
Yamana Silver Stream [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 25,969 | 37,954 | |
Hugo North Extension and Heruga Segment [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 35,352 | 56,628 | |
Relief Canyon [Member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 13,796 | 18,910 | |
Vale Royalties Segment [Member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 116,856 | 120,543 | |
Other [member] | CANADA | |||
Disclosure of operating segments [line items] | |||
Total revenue | 15,300 | 14,500 | |
Other [member] | MEXICO | |||
Disclosure of operating segments [line items] | |||
Total revenue | 4,800 | 10,900 | |
Other [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Assets | 264,261 | 108,229 | |
Gold [member] | Aurizona Segment [member] | Operating segments [member] | BRAZIL | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 379 | 815 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | 6,546 | 9,029 | |
Cash flow from operating activities | 7,925 | 9,444 | |
Gold [member] | Blyvoor Segment [Member] | Operating segments [member] | SOUTH AFRICA | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 1,199 | ||
Depletion | 787 | ||
Stream, royalty and other interests impairments | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | 603 | ||
Cash flow from operating activities | 2,083 | ||
Gold [member] | Bonikro Segment [Member] | Operating segments [member] | COTE D'IVOIRE | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 2,422 | ||
Depletion | 3,106 | ||
Stream, royalty and other interests impairments | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | (285) | ||
Cash flow from operating activities | 3,742 | ||
Gold [member] | Fruta del Norte [Member] | Operating segments [member] | ECUADOR | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 2,416 | 2,304 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | 4,130 | 4,063 | |
Cash flow from operating activities | 4,757 | 4,465 | |
Gold [member] | Hounde [member] | Operating segments [member] | BURKINA FASO | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 2,159 | 1,610 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | 3,656 | 2,193 | |
Cash flow from operating activities | 3,547 | 3,802 | |
Gold [member] | Mercedes Segment [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 12,400 | ||
Gold [member] | Relief Canyon [Member] | Operating segments [member] | UNITED STATES | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 5,121 | 4,711 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | 5,770 | 5,788 | |
Cash flow from operating activities | 10,891 | 10,499 | |
Gold [member] | Vatukoula Segment [Member] | Operating segments [member] | FIJI | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 899 | ||
Depletion | 2,348 | ||
Stream, royalty and other interests impairments | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | (2,396) | ||
Income (loss) before taxes | 3,652 | ||
Cash flow from operating activities | 3,604 | ||
Gold [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 17,700 | 25,700 | |
Various [member] | Antamina Segment [Member] | Operating segments [member] | PERU | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | ||
Depletion | 5,676 | ||
Stream, royalty and other interests impairments | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | (1,407) | ||
Cash flow from operating activities | 1,069 | ||
Various [member] | Mercedes Segment [Member] | Operating segments [member] | MEXICO | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 2,001 | ||
Depletion | 8,144 | ||
Stream, royalty and other interests impairments | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | 4,789 | ||
Cash flow from operating activities | 11,669 | ||
Various [member] | Other [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 3,694 | 4,701 | |
Depletion | 7,906 | 8,070 | |
Stream, royalty and other interests impairments | 1,086 | 408 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | (23,437) | ||
Income (loss) before taxes | 35,314 | 18,545 | |
Cash flow from operating activities | 21,003 | 27,096 | |
Copper [member] | Caserones Segment [Member] | Operating segments [member] | CHILE | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | ||
Depletion | 1,656 | ||
Stream, royalty and other interests impairments | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | 959 | ||
Cash flow from operating activities | 2,747 | ||
Copper [member] | Chapada [member] | Operating segments [member] | BRAZIL | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 4,828 | 4,541 | |
Depletion | 3,060 | 2,963 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | 8,128 | 7,614 | |
Cash flow from operating activities | 11,188 | 10,577 | |
Copper [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 1,300 | 2,700 | |
Diamonds [member] | Diavik [member] | Operating segments [member] | CANADA | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 2,491 | 3,372 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | 5,715 | 4,275 | |
Cash flow from operating activities | 8,056 | 7,097 | |
Silver [member] | Mercedes Segment [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 2,500 | ||
Silver [member] | Yamana Silver Stream [member] | Operating segments [member] | ARGENTINA | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 8,323 | 7,603 | |
Depletion | 11,994 | 10,415 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | 0 | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | 7,487 | 7,442 | |
Cash flow from operating activities | 19,480 | 17,857 | |
Iron Ore [Member] | Vale Royalties Segment [Member] | Operating segments [member] | BRAZIL | |||
Disclosure of operating segments [line items] | |||
Cost of sales, excluding depletion | 0 | 0 | |
Depletion | 2,537 | 1,444 | |
Stream, royalty and other interests impairments | 0 | 0 | |
Gain on revaluation of Vale Royalties financial instrument | (5,887) | ||
Gain on disposal of stream, royalty and other interests and Other | 0 | ||
Income (loss) before taxes | 5,276 | 8,841 | |
Cash flow from operating activities | 7,618 | 198 | |
Sales [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 97,815 | 71,722 | |
Sales [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 97,815 | 71,722 | |
Sales [member] | Material Reconciling Items [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Sales [member] | Material Reconciling Items [member] | Administrative and Project Evaluation Expenses [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Sales [member] | Material Reconciling Items [member] | Foreign exchange gain loss [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Sales [member] | Material Reconciling Items [member] | Gain on revaluation of investments [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Sales [member] | Material Reconciling Items [member] | Finance (expense) income, net | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Sales [member] | Material Reconciling Items [member] | Other income statement line item [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Sales [member] | Material Reconciling Items [member] | Gain on Disposal of Investment in Associate [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | ||
Sales [member] | Material Reconciling Items [member] | Share of net loss of associates [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Sales [member] | Gold [member] | Aurizona Segment [member] | Operating segments [member] | BRAZIL | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Sales [member] | Gold [member] | Blyvoor Segment [Member] | Operating segments [member] | SOUTH AFRICA | |||
Disclosure of operating segments [line items] | |||
Total revenue | 2,589 | ||
Sales [member] | Gold [member] | Bonikro Segment [Member] | Operating segments [member] | COTE D'IVOIRE | |||
Disclosure of operating segments [line items] | |||
Total revenue | 5,243 | ||
Sales [member] | Gold [member] | Fruta del Norte [Member] | Operating segments [member] | ECUADOR | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Sales [member] | Gold [member] | Hounde [member] | Operating segments [member] | BURKINA FASO | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Sales [member] | Gold [member] | Relief Canyon [Member] | Operating segments [member] | UNITED STATES | |||
Disclosure of operating segments [line items] | |||
Total revenue | 10,891 | 10,499 | |
Sales [member] | Gold [member] | Vatukoula Segment [Member] | Operating segments [member] | FIJI | |||
Disclosure of operating segments [line items] | |||
Total revenue | 4,503 | ||
Sales [member] | Various [member] | Antamina Segment [Member] | Operating segments [member] | PERU | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | ||
Sales [member] | Various [member] | Mercedes Segment [Member] | Operating segments [member] | MEXICO | |||
Disclosure of operating segments [line items] | |||
Total revenue | 14,934 | ||
Sales [member] | Various [member] | Other [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 15,835 | 20,645 | |
Sales [member] | Copper [member] | Caserones Segment [Member] | Operating segments [member] | CHILE | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | ||
Sales [member] | Copper [member] | Chapada [member] | Operating segments [member] | BRAZIL | |||
Disclosure of operating segments [line items] | |||
Total revenue | 16,016 | 15,118 | |
Sales [member] | Diamonds [member] | Diavik [member] | Operating segments [member] | CANADA | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Sales [member] | Silver [member] | Yamana Silver Stream [member] | Operating segments [member] | ARGENTINA | |||
Disclosure of operating segments [line items] | |||
Total revenue | 27,804 | 25,460 | |
Sales [member] | Iron Ore [Member] | Vale Royalties Segment [Member] | Operating segments [member] | BRAZIL | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Royalty revenue [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 50,917 | 43,138 | |
Royalty revenue [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 50,917 | 43,138 | |
Royalty revenue [member] | Material Reconciling Items [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Royalty revenue [member] | Material Reconciling Items [member] | Administrative and Project Evaluation Expenses [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Royalty revenue [member] | Material Reconciling Items [member] | Foreign exchange gain loss [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Royalty revenue [member] | Material Reconciling Items [member] | Gain on revaluation of investments [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Royalty revenue [member] | Material Reconciling Items [member] | Finance (expense) income, net | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Royalty revenue [member] | Material Reconciling Items [member] | Other income statement line item [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Royalty revenue [member] | Material Reconciling Items [member] | Gain on Disposal of Investment in Associate [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | ||
Royalty revenue [member] | Material Reconciling Items [member] | Share of net loss of associates [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Royalty revenue [member] | Gold [member] | Aurizona Segment [member] | Operating segments [member] | BRAZIL | |||
Disclosure of operating segments [line items] | |||
Total revenue | 6,925 | 9,844 | |
Royalty revenue [member] | Gold [member] | Blyvoor Segment [Member] | Operating segments [member] | SOUTH AFRICA | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | ||
Royalty revenue [member] | Gold [member] | Bonikro Segment [Member] | Operating segments [member] | COTE D'IVOIRE | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | ||
Royalty revenue [member] | Gold [member] | Fruta del Norte [Member] | Operating segments [member] | ECUADOR | |||
Disclosure of operating segments [line items] | |||
Total revenue | 6,546 | 6,367 | |
Royalty revenue [member] | Gold [member] | Hounde [member] | Operating segments [member] | BURKINA FASO | |||
Disclosure of operating segments [line items] | |||
Total revenue | 5,815 | 3,803 | |
Royalty revenue [member] | Gold [member] | Relief Canyon [Member] | Operating segments [member] | UNITED STATES | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Royalty revenue [member] | Gold [member] | Vatukoula Segment [Member] | Operating segments [member] | FIJI | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | ||
Royalty revenue [member] | Various [member] | Antamina Segment [Member] | Operating segments [member] | PERU | |||
Disclosure of operating segments [line items] | |||
Total revenue | 4,269 | ||
Royalty revenue [member] | Various [member] | Mercedes Segment [Member] | Operating segments [member] | MEXICO | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | ||
Royalty revenue [member] | Various [member] | Other [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 8,728 | 11,079 | |
Royalty revenue [member] | Copper [member] | Antamina Segment [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 2,900 | ||
Royalty revenue [member] | Copper [member] | Caserones Segment [Member] | Operating segments [member] | CHILE | |||
Disclosure of operating segments [line items] | |||
Total revenue | 2,615 | ||
Royalty revenue [member] | Copper [member] | Chapada [member] | Operating segments [member] | BRAZIL | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Royalty revenue [member] | Diamonds [member] | Diavik [member] | Operating segments [member] | CANADA | |||
Disclosure of operating segments [line items] | |||
Total revenue | 8,206 | 7,647 | |
Royalty revenue [member] | Silver [member] | Antamina Segment [Member] | |||
Disclosure of operating segments [line items] | |||
Total revenue | 200 | ||
Royalty revenue [member] | Silver [member] | Yamana Silver Stream [member] | Operating segments [member] | ARGENTINA | |||
Disclosure of operating segments [line items] | |||
Total revenue | 0 | 0 | |
Royalty revenue [member] | Iron Ore [Member] | Vale Royalties Segment [Member] | Operating segments [member] | BRAZIL | |||
Disclosure of operating segments [line items] | |||
Total revenue | $ 7,813 | $ 4,398 |
Segment Information - Summary_2
Segment Information - Summary of Company's Reportable Operating Segments (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of operating segments [line items] | ||
Total revenue | $ 148,732 | $ 114,860 |
Stream, royalty and other interests | 1,781,256 | 473,651 |
Hod Maden [member] | ||
Disclosure of operating segments [line items] | ||
Stream, royalty and other interests | 207,000 | 5,800 |
Investments in associates | 63,300 | |
Hugo north extension and heruga segment [member] | ||
Disclosure of operating segments [line items] | ||
Stream, royalty and other interests | 35,400 | 35,400 |
Investments in associates | 21,300 | |
Mercedes Segment [Member] | Gold [member] | ||
Disclosure of operating segments [line items] | ||
Total revenue | 12,400 | |
Mercedes Segment [Member] | Silver product [member] | ||
Disclosure of operating segments [line items] | ||
Total revenue | 2,500 | |
Other [member] | Gold [member] | ||
Disclosure of operating segments [line items] | ||
Total revenue | 17,700 | 25,700 |
Other [member] | Copper [member] | ||
Disclosure of operating segments [line items] | ||
Total revenue | 1,300 | 2,700 |
Other [member] | Other Base Metal Product [member] | ||
Disclosure of operating segments [line items] | ||
Total revenue | $ 5,600 | $ 3,300 |
Top of Range [member] | Other [member] | ||
Disclosure of operating segments [line items] | ||
Percentage of companys sales gross margin or aggregate asset book value | 10% | 10% |
Royalty revenue [member] | ||
Disclosure of operating segments [line items] | ||
Total revenue | $ 50,917 | $ 43,138 |
Royalty revenue [member] | Antamina Segment [Member] | Copper [member] | ||
Disclosure of operating segments [line items] | ||
Total revenue | 2,900 | |
Royalty revenue [member] | Antamina Segment [Member] | Other Base Metal Product [member] | ||
Disclosure of operating segments [line items] | ||
Total revenue | 1,200 | |
Royalty revenue [member] | Antamina Segment [Member] | Silver product [member] | ||
Disclosure of operating segments [line items] | ||
Total revenue | 200 | |
CANADA | Other [member] | ||
Disclosure of operating segments [line items] | ||
Total revenue | 15,300 | 14,500 |
Other Geographical Area [member] | Other [member] | ||
Disclosure of operating segments [line items] | ||
Total revenue | 4,500 | 6,300 |
MEXICO | Other [member] | ||
Disclosure of operating segments [line items] | ||
Total revenue | $ 4,800 | $ 10,900 |
Segment Information - Non-curre
Segment Information - Non-current Assets by Geographical Region (Detail) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of operating segments [line items] | ||
Noncurrent assets | $ 1,788,668 | $ 563,198 |
CANADA | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 296,794 | 45,917 |
UNITED STATES | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 68,496 | 41,660 |
MEXICO | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 79,852 | 4,034 |
ARGENTINA | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 58,493 | 51,627 |
BRAZIL | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 186,740 | 177,640 |
ECUADOR | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 27,259 | 29,675 |
FRENCH GUIANA | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 5,160 | 5,160 |
PERU | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 338,042 | |
CHILE | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 83,482 | 2,460 |
SOUTH AFRICA | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 294,707 | 2,745 |
BURKINA FASO | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 35,927 | 38,565 |
TURKEY | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 210,888 | 72,917 |
MONGOLIA | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 35,995 | 57,271 |
FIJI | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 14,886 | 27,590 |
AUSTRALIA | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 16,982 | 3,220 |
OTHER | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | 298 | $ 2,717 |
Cote DIvoire [Member] | ||
Disclosure of operating segments [line items] | ||
Noncurrent assets | $ 34,667 |