v3.25.2
FINANCIAL INSTRUMENTS (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value
The following table presents financial instruments measured at fair value on a recurring basis within the fair value hierarchy for level 1 and 2 financial instruments:
June 30, 2025December 31, 2024
Level
Carrying amountFair valueCarrying amountFair value
 Warrant liability
1$3,576 $3,576 $3,875 $3,875 
Warrant liability
2
2,308 2,308 748 748 
Share based payments2$2,910 $2,910 $790 $790 
Schedule of Fair value Measurements using Significant Unobservable Inputs
The following tables present the changes in level 3 items:
Convertible Loans
Orion conversion and change of control rightsSprott conversion and change of control rightsSilver Purchase Agreement - silver price derivativeGold Prepay - gold price derivativeContingent consideration
Balance as at January 1, 2024$(9,028)$(1,459)$1,898 $(1,676)$(4,898)
Repayment— — — — 5,000 
Fair value adjustments8,692 1,426 (9,897)(7,989)(102)
Balance as at December 31, 2024$(336)$(33)$(7,999)$(9,665)$— 
Fair value adjustments(696)23 (7,246)(17)— 
Balance as at June 30, 2025$(1,032)$(10)$(15,245)$(9,682)$ 

The Company's derivative instruments are described in the level 1, 2 and 3 tables in this note.
Schedule of Fair value Measurements using Significant Unobservable Inputs
The following tables present the changes in level 3 items:
Convertible Loans
Orion conversion and change of control rightsSprott conversion and change of control rightsSilver Purchase Agreement - silver price derivativeGold Prepay - gold price derivativeContingent consideration
Balance as at January 1, 2024$(9,028)$(1,459)$1,898 $(1,676)$(4,898)
Repayment— — — — 5,000 
Fair value adjustments8,692 1,426 (9,897)(7,989)(102)
Balance as at December 31, 2024$(336)$(33)$(7,999)$(9,665)$— 
Fair value adjustments(696)23 (7,246)(17)— 
Balance as at June 30, 2025$(1,032)$(10)$(15,245)$(9,682)$ 

The Company's derivative instruments are described in the level 1, 2 and 3 tables in this note.