v3.25.2

Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2025 | Dec. 31, 2024
Income Statement |  |
Revenues | $ 277,370 | $ 191,157
Cost of sales | (9,115) | (6,738)
Depletion | (35,770) | (32,607)
Gross profit | 232,485 | 151,812
Other operating expenses |  |
General and administrative | (20,932) | (18,298)
Business development | (9,293) | (5,632)
Impairment of royalty, stream and other interests | (5,495) | (49,558)
Operating income | 196,765 | 78,324
Interest income | 4,021 | 4,153
Finance costs | (4,475) | (7,966)
Foreign exchange gain (loss) | 645 | (4,424)
Share of loss of associates | (14,178) | (30,025)
Other gains (losses), net | 58,607 | (9,920)
Earnings before income taxes | 241,385 | 30,142
Income tax expense | (35,297) | (13,875)
Net earnings | $ 206,088 | $ 16,267
Net earnings per share |  |
Basic | $ 1.1 | $ 0.09
Diluted | $ 1.09 | $ 0.09

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