Description of Versamet Royalties's Business Segments
The company’s operating segments comprise individual royalties, streams, and the Greenstone gold interest. Profit or loss for each segment is measured as income (loss) before taxes. Corporate activities, including head office functions, general corporate administration, finance expenses, and changes in derivative fair value, are reported separately to reconcile segment results with the financial statements.
Reportable segments include royalties and streams from Blackwater (Canada), Cuiú Cuiú (Brazil), Greenstone (Canada), Kiaka (Burkina Faso), Kolpa (Peru), Mercedes (Mexico), Rosh Pinah (Namibia), and Santa Rita (Brazil). Royalty revenue from Blackwater, Kiaka, Mercedes, and Santa Rita each originates from a single customer. The gold, silver, and copper produced under the Greenstone gold interest, Rosh Pinah stream, and Kolpa stream are each sold to one customer.
The Corporate segment encompasses operating expenses, foreign exchange losses, net finance and interest expenses, changes in the fair value of derivative liabilities, income tax payments, and working capital movements. Cost of sales for the Greenstone gold interest includes both a cash payment to Equinox for gold delivered and a non-cash partial settlement of the interest based on gold delivered during the year.
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