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Please see the risk factor entitled “ Our revenue is subject to volatility in metal prices, which could adversely affect our results of operations and cash flow ” under Item 1A, Risk Factors, of this report for more information about risks associated with metal price volatility.
−Removed: During the year ended December 31, 2024, we reported revenue of $719.4 million, with an average gold price for the period of $2,386 per ounce (based on the LBMA Price), an average silver price of $28.27 per ounce (based on the LBMA Price), and an average copper price of $4.15 per pound (based on the LME Price).
+Added: During the year ended December 31, 2025, we reported revenue of $1.0 billion, with an average gold price for the period of $3,432 per ounce (based on the LBMA Price), an average silver price of $40.03 per ounce (based on the LBMA Price), and an average copper price of $4.51 per pound (based on the LME Price).
The table below shows the impact that a 10% increase or decrease in the average price of the specified metal would have had on our total reported revenue for the year ended December 31, 2025:
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.