| Dec'17 | Dec'16 | |||||
|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||
Earnings for the year | ||||||
81,793 | 117,876 | |||||
Adjustments for: | ||||||
Interest expense | ||||||
3,284 | 3,644 | |||||
Payment on extinguishment of currency swap | ||||||
0 | 1,939 | |||||
Income tax expense | ||||||
38,034 | 90,856 | |||||
Items not involving cash: | ||||||
Depreciation and depletion | ||||||
152,536 | 128,072 | |||||
Loss on disposition of plant and equipment | ||||||
-1,026 | -451 | |||||
Gain on currency swap | ||||||
0 | 803 | |||||
Share-based payments | ||||||
5,483 | 7,224 | |||||
Shares issued as transaction costs | ||||||
0 | -5,332 | |||||
Unrealized foreign exchange loss | ||||||
2,218 | 539 | |||||
Loss on debenture conversion | ||||||
0 | -32,304 | |||||
Accretion | ||||||
2,640 | 2,370 | |||||
Cash provided by operating activities before changes in working capital | ||||||
287,014 | 385,926 | |||||
Changes in working capital | ||||||
-8,243 | 67,556 | |||||
Cash provided by operating activities | ||||||
295,257 | 318,370 | |||||
Income taxes paid | ||||||
60,993 | 68,916 | |||||
Net cash provided by operating activities | ||||||
234,264 | 249,454 | |||||
INVESTING ACTIVITIES | ||||||
Additions to mineral interests, plant and equipment | ||||||
224,089 | 190,885 | |||||
Cash acquired through acquisition | ||||||
0 | 70,187 | |||||
Net cash used in investing activities | ||||||
-224,089 | -120,698 | |||||
FINANCING ACTIVITIES | ||||||
Proceeds from issuance of common shares on exercise of share options | ||||||
914 | 19,790 | |||||
Dividends paid to shareholders | ||||||
35,697 | 67,044 | |||||
Loan origination fees and other | ||||||
671 | 403 | |||||
Interest paid | ||||||
2,614 | 2,989 | |||||
Payments on finance leases | ||||||
9,455 | 22,266 | |||||
Net cash used in financing activities | ||||||
-47,523 | -72,912 | |||||
Effect of exchange rates on cash and cash equivalents | ||||||
-355 | -1,143 | |||||
Increase (decrease) in cash and cash equivalents | ||||||
-37,703 | 54,701 | |||||