• Au


top of page
  • Backfill

    Waste material used to fill the void created by mining an orebody.

  • Balance sheet

    Also called the statement of financial position; a financial report showing the status of a company's assets, liabilities and owners' equity on a given date.

  • By-product

    A secondary metal or mineral product recovered in the milling process such as copper and silver.

top of page
  • Cash flow Statement

    Summary of the inflows and outflows of cash in a period, summarized into operating, investing and financing cashflow.

  • Closure Plan

    A plan designed to ensure public safety and restore the physical, chemical and biological quality of the area disturbed by mining to an acceptable level. It must aim at leaving the area in such a way that the rehabilitated property does not become a burden to society after the mining operation is over.

  • Concentrate

    A very fine, powder-like product containing the valuable ore mineral from which most of the waste mineral has been eliminated.

  • Core Drilling

    The process of obtaining cylindrical rock samples by means of annular-shaped rock-cutting bits rotated by a borehole-drilling machine

  • Core sample

    A cylinder sample generally 1-5" in diameter drilled out of an area to determine the geologic and chemical analysis of the overburden and coal.

  • Corporate Responsibility

    A form of self-regulation integrated into a business model where companies embrace the responsibility for the impact of their activities on the environment, employees, communities and other stakeholders.

  • Crushing and grinding

    The process by which ore is broken into small pieces to prepare it for further processing.

  • Cu


  • Current assets

    Cash and cash equivalents and other assets a company can convert to cash within one year. Examples are cash, accounts receivable and inventories of products to sell.

  • Current liabilities

    Obligations a company has to creditors, suppliers, tax authorities, and others, payable within one year.

top of page
  • Debt-to-equity ratio

    Usually, long-term debt divided by shareholder's equity.

  • Deposit

    A mineralized body that has been physically delineated by sufficient drilling, trenching and/or underground work and found to contain a sufficient average grade of metal or metals to warrant further exploration and/or development expenditures; such a deposit does not qualify as a commercially mineable orebody or as containing mineral reserves until final legal, technical and economic factors have been resolved.

  • Depreciation

    An allowance made for loss in value of a fixed asset because of wear or age. The cost of the fixed asset is allocated over its estimated useful life

  • Dilution

    The effect of waste or low-grade ore being included unavoidably in the mined ore, lowering the recovered grade

  • Dividends

    Cash or shares awarded to shareholders in an equal amount for each share owned, at the discretion of the company’s board of directors.

  • Doré

    Unrefined gold and silver bullion bars, which will be further, refined to almost pure metal.

top of page
  • Earnings per share

    Portion of a company's net income divided by the weighted average outstanding common shares in an accounting period.

  • Environmental Assessment

    The process of identifying, predicting, evaluating and mitigating the biophysical, social and other relevant effects of development proposals prior to making major decisions and commitments.

  • Exploration

    Prospecting, sampling, mapping, diamond-drilling and other work involved in searching for ore.

top of page
  • Fault

    A surface or zone of rock fracture along which there has been displacement of any size.

  • Feasibility Study

    A comprehensive study of a deposit in which all geological, engineering, operating, economic and other relevant factors are considered in sufficient detail that it could reasonably serve as the basis for a final decision by a financial institution to finance the development of the deposit for mineral production.

  • Free cash flow

    Represents cashflow generated from operations less investing cash flow (primarily net spending on equipment and assets).

top of page
  • Grade

    The amount of mineral by weight in each tonne of ore

top of page
  • Heap leaching

    A process used to recover gold from ore whereby crushed ore is extracted by “heaping” broken ore on sloping impermeable pads and continually applying to the heaps a weak cyanide solution which dissolves the contained gold. The gold-laden solution is then collected for gold recovery.

  • High grade

    Rich ore. As a verb, it refers to selective mining of the best ore in a deposit.

top of page
  • Income statement

    A summary of the revenue and expenses of a company during an accounting period.

  • Indicated mineral resource

    That part of a mineral resource for which quantity grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.

  • Inferred mineral resource

    That part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed (but not verified) geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

top of page
  • Leach

    Gold being dissolved in cyanide solution in heap leaching or in tanks in a processing plant (agitated leach, carbon in pulp, carbon in leach).

  • Long-term debt

    Debt a company will repay after one year.

top of page
  • Market Capitalization

    A financial term used to describe the value financial markets put on a company as determined by multiplying the number of outstanding shares of a company by the current share price.

  • Metallurgy

    The science of extracting metals from ores by mechanical and chemical processes and preparing them for use.

  • Mill

    A plant where ore is ground fine and undergoes physical or chemical treatment to extract the valuable metals.

  • Minable reserves

    Ore reserves that are known to be extractable using a given mining plan.

  • Mine

    An excavation in the earth for the purpose of extracting minerals. Mines can be open pit, surface or underground.

  • Mineral reserve

    That part of a measured or indicated mineral resource that could be economically mined, demonstrated by at least a preliminary feasibility study that includes adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate (at the time of reporting) that economic extraction can be justified. A mineral reserve includes diluting materials and allowances for losses that may occur when the material is mined. Mineral reserves are those parts of mineral resources that, after applying all mining factors, result in an estimated tonnage and grade that, in the opinion of the qualified person(s) making the estimates, is the basis of an economically viable project after taking account of all relevant processing, metallurgical, economic, marketing, legal, environment, socio-economic and government factor. The term "mineral reserve" need not necessarily signify that extraction facilities are in place or operative or that all governmental approvals have been received, although it does signify that there are reasonable expectations of such approvals. Mineral reserves are subdivided into proven mineral reserves and probable mineral reserves.

top of page
  • Net debt

    Total debt less cash and cash equivalents

  • Net income

    A company's total revenue less total expenses, showing what the company earned (or lost, called net loss) for an accounting period.

top of page
  • Open pit

    A mine where the minerals are mined entirely from the surface.

  • Ore

    Rock, generally containing metallic and non-metallic minerals that can be mined and processed at a profit.

  • Orebody

    A sufficiently large amount of ore that can be mined economically.

  • Ounces

    Troy ounces of a fineness of 999.9 parts per 1,000 parts.

top of page
  • Price earnings ratio (P/E)

    Price of a stock divided by its earnings per share. The P/E ratio may either use the reported earnings from the latest year (called a trailing P/E) or employ an analyst's forecast of next year's earnings (called a forward P/E).

  • Proven mineral reserves

    That part of a measured mineral resource that is economically mineable, demonstrated by at least a preliminary feasibility study that includes adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate (at the time of reporting) that economic extraction is justified.

top of page
  • Reclamation

    The process by which lands disturbed as a result of mining activity are reclaimed back to a beneficial land use. Reclamation activity includes the removal of buildings, equipment, machinery and other physical remnants of mining, closure of tailings impoundments, leach pads and other mine features, and contouring, covering and revegetation of waste rock piles and other disturbed areas.

  • Recovery

    A term used in process metallurgy to indicate the proportion of valuable material obtained in the processing of an ore. It is generally stated as a percentage of valuable metal in the ore that is recovered compared to the total valuable metal present in the ore.

  • Refining

    The final stage of metal production in which impurities are removed from the molten metal.

  • Return on equity

    Amount, expressed as a percentage, earned on a company's common stock investment for a given period. It is calculated by dividing common stock equity (net worth) at the beginning of the accounting period into net income for the period before common stock dividends.

  • Royalty

    An amount of money paid at regular intervals by the lessee or operator of an exploration or mining property to the owner of the ground. Generally, it will be based on a certain amount per tonne or a percentage of the total production or profits. Also, the fee paid for the right to use a patented process.

top of page
  • Share or Stock

    Unit of equity ownership in a corporation. The number of shares a company is authorized to issue is detailed in its constating documents.

  • Shareholders’ equity

    Shareholders equity is equal to the company’s total assets less total liabilities, which represents the amount that would remain if a company sold all its assets and paid off all its liabilities. Listed as total equity on the statement of financial position and on the statement of changes in shareholder equity.

  • Shares outstanding

    The number of common shares issued by a company

  • Stockpile

    Broken ore heaped on surface or prepared areas underground, pending treatment or shipment.

  • Stope

    An area in an underground mine where ore is mined.

  • Sustainable Development

    Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

top of page
  • Tailings

    The material that remains after all economically and technically recoverable precious metals have been removed from the ore during processing.

  • Tailings Dam

    A natural or man-made confined area suitable for depositing tailings.

  • Total cash costs

    A non-GAAP metric to measure financial performance in the gold mining industry. See “Non-GAAP Performance Measures” in the Company’s most recent management discussion and analysis for total cash costs and all in sustaining cost definition.

top of page
  • Vein

    A fissure, fault or crack in a rock filled by minerals that have traveled upwards from some deep source.

  • Visible gold

    Native gold which is discernible to the eye.

top of page