v3.25.2
OTHER LIABILITIES (Tables)
6 Months Ended
Jun. 30, 2025
Other Liabilities Disclosure [Abstract]  
Schedule of Other Liabilities
June 30, 2025December 31, 2024
Warrant liability (i)
$5,884 $4,623 
Share-based payment liability (ii)
2,910 790 
Orion - Conversion and change of controls rights (iii)
1,032 336 
Sprott - Conversion and change of controls rights (iii)
10 33 
Gold Prepay Agreement embedded derivative (iv)
9,682 9,665 
Silver Purchase Agreement embedded derivative (v)
15,245 7,999 
Deferred revenue (vi)7,102 — 
Lease liability1,128 685 
Total other liabilities42,993 24,131 
Less current portion16,743 8,882 
Long-term portion$26,250 $15,249 
Schedule of Warrant Liability
Issue dateExpiry dateExercise Price (C$) Number of warrantsJune 30, 2025December 31, 2024
Brokered placement5/1/20245/1/20282.1534,849,025$3,576 $3,875 
Orion warrants12/13/202112/13/20253.285,500,00010 336 
Orion warrants9/20/20239/20/20263.173,750,000477 290 
Orion warrants1/24/20241/24/20282.72500,00091 63 
Orion warrants1/15/20251/15/20291.015,000,0001,730 — 
Paycore warrants5/5/20235/2/20254.023,330,657 55 
Paycore warrants5/5/20232/9/20252.40255,567 
Total warrant liability$5,884 $4,623 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The fair value of the warrants, excluding warrants issued in connection with the bought deal public offering, were calculated using the Black-Scholes option pricing model with the following assumptions:

June 30, 2025December 31, 2024
Risk-free rate
2.64% to 2.79%
2.85% to 3.14%
Warrant expected life
6 to 43 months
2 to 37 months
Expected volatility
84% to 123%
86% to 232%