v3.25.2
Consolidated Statements of Cash Flow (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
OPERATING ACTIVITIES              
Net loss $ (8,835,000) $ (25,387,000) $ (23,621,000) $ (7,742,000) $ (34,222,000) $ (31,363,000)  
Adjustments to reconcile net income to cash provided by (used in) operating activities              
Amortization, depreciation and accretion         2,331,000 1,527,000  
Depletion         1,709,000 0  
Stock based compensation         1,629,000 1,703,000  
Inventory impairment charge 0   3,687,000   155,000 5,547,000  
Exploration costs related to mineral properties         7,379,000 6,944,000  
Unrealized loss on marketable securities (2,810,000)   1,396,000   7,066,000 2,217,000 $ 2,711,000
Realized gain on marketable securities (7,671,000)   0   (7,671,000) (252,000)  
Changes in operating assets and liabilities:              
Receivables, prepaids and deposits         4,364,000 (6,428,000)  
Inventories         11,437,000 (32,294,000)  
Accounts payable and accrued liabilities         862,000 (425,000)  
Asset retirement obligations         (68,000) (296,000)  
Deferred tax liability         (182,000) (5,403,000)  
Due to related parties         (12,418,000) 18,406,000  
Net cash used in operating activities         (17,629,000) (40,117,000)  
INVESTING ACTIVITIES              
Purchase of property, plant, and equipment         (8,182,000) (3,764,000)  
Acquisition of intangible assets         (1,000,000) 0  
Exploration costs related to mineral properties         (7,379,000) (6,944,000)  
Purchase of marketable securities         0 (758,000)  
Proceeds from sale of marketable securities         14,446,000 552,000  
Net cash provided by (used in) investing activities         (2,115,000) (10,914,000)  
FINANCING ACTIVITIES              
Private placement proceeds         0 10,000,000  
Common stock issuance costs         0 (50,000)  
Proceeds from the At -the-Market ("ATM") sales         0 2,008,000  
Proceeds from exercise of warrants         239,000 22,054,000  
Proceeds from exercise of stock options         687,000 1,441,000  
Proceeds from sale of minority interest         0 60,000,000  
Contributions from non-controlling interest         5,625,000 3,874,000  
Net cash provided by financing activities         6,551,000 99,327,000  
Net (decrease) increase in cash, cash equivalents and restricted cash         (13,193,000) 48,296,000  
Foreign exchange difference on cash, cash equivalents and restricted cash         663,000 (14,000)  
Cash, cash equivalents and restricted cash, beginning of year   $ 47,452,000   $ 15,173,000 47,452,000 15,173,000 15,173,000
Cash, cash equivalents and restricted cash, end of period $ 34,922,000   $ 63,455,000   34,922,000 63,455,000 $ 47,452,000
Non-cash activities:              
Property, plant, and equipment additions included in accounts payable and accrued liabilities         881,000 37,000  
Inventory distributions to non-controlling interest         2,560,000 0  
Conversion of promissory note, including equity portion, to shares         0 23,117,000  
Mineral property depletion costs capitalized into inventory during the period         $ 4,572,000 $ 0