Share Capital Structure as of August 14, 2026:

Share capital structure as of May 6, 2026
Item Current
Issued and outstanding shares{{1}} 206.4M
Fully diluted shares{{1}} 210.5M
Share price C$24.82/US$17.89
Market capitalization (issued share basis) C$5.1B / US$3.7B

Total Debt, Cash and Net Debt

Long-term debt
Instrument ISIN ID Principal (US$M){{2}} Maturity Indenture
Senior Unsecured 8.000%, B1 / B+ / B+ by Moody’s, S&P and Fitch USC04492AA97
US04040YAB56
450.0 Oct 31, 2029 Indenture (PDF)
Gold-Linked Secured 7.5% Notes (listed, Cboe Canada exchange) CA04041BAA67 20 Aug 26, 2027 Indenture (PDF)
Total Debt 470
Cash balance{{3}} 426
Net Debt{{4}} 44

Capital Structure Notes:

  1. Does not include the additional 6,000,000 contingent shares issuable to Mubadala on receipt of the environmental license to develop PSN – refer to news release dated June 28, 2024 for details.
  2. Principal amounts outstanding as of June 30, 2026. The secured Gold-Linked Notes amortize on a quarterly basis in each of February, May, August and November
  3. Cash balance as of June 30, 2026.
  4. Net debt is calculated as outstanding principal for the Senior Notes and the Gold-linked Notes as at August 1, 2026, less June 30, 2026 cash balance of $426M.