| Dec'17 | Dec'16 | |||||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net income for the year | ||||||
71,466 | 64,957 | |||||
Adjustments for: | ||||||
Depreciation, depletion and amortization | ||||||
102,482 | 76,169 | |||||
Net finance expense | ||||||
26,467 | 22,507 | |||||
Impairment reversal | ||||||
-24,357 | 0 | |||||
Income tax expense | ||||||
3,121 | 16,028 | |||||
Non-cash foreign exchange (gain) loss | ||||||
-4,373 | 2,069 | |||||
Net changes in non-cash working capital items | ||||||
4,886 | -9,186 | |||||
Other operating activities | ||||||
3,610 | 6,405 | |||||
Cash generated in operating activities before interest and taxes | ||||||
173,530 | 197,321 | |||||
Moratorium paid | ||||||
9,270 | 0 | |||||
Interest paid | ||||||
15,235 | 8,087 | |||||
Income taxes paid | ||||||
4,300 | 18,550 | |||||
Cash generated by operating activities | ||||||
144,725 | 170,684 | |||||
Cash flows from investing activities | ||||||
Purchase of plant and equipment | ||||||
28,897 | 42,272 | |||||
Capitalized stripping costs | ||||||
22,863 | 32,624 | |||||
Underground mine development costs | ||||||
8,294 | 5,377 | |||||
Chinchillas project costs | ||||||
11,432 | 0 | |||||
Capitalized exploration costs | ||||||
5,368 | 5,797 | |||||
Closing payment on formation of joint venture, net of cash acquired | ||||||
12,972 | 0 | |||||
Proceeds from sale of marketable securities | ||||||
68,641 | 4,969 | |||||
Cash received on Seabee Gold Operation acquisition, net of share exchange payment | ||||||
0 | 16,753 | |||||
Interest received | ||||||
3,944 | 1,670 | |||||
Tax deposit recovered | ||||||
0 | -18,243 | |||||
Other | ||||||
1,747 | 1,171 | |||||
Cash (used) in investing activities | ||||||
-15,494 | -43,264 | |||||
Cash flows from financing activities | ||||||
Proceeds from exercise of stock options | ||||||
2,281 | 6,700 | |||||
Funding from non-controlling interest | ||||||
2,320 | 0 | |||||
Repayment of bank loan | ||||||
0 | 3,845 | |||||
Repayment of Seabee Gold Operation credit facility | ||||||
0 | 13,707 | |||||
Share issuance fees on Seabbee Gold Operation acquisition | ||||||
0 | 212 | |||||
Cash generated (used) by financing activities | ||||||
4,601 | -11,064 | |||||
Effect of foreign exchange rate changes on cash and cash equivalents | ||||||
-1,095 | -1,091 | |||||
Increase in cash and cash equivalents | ||||||
132,737 | 115,265 | |||||