
	June 30, 2025			December 31, 2024
Thacker Pass	$	581,897		$	378,957
Machinery and equipment		2,681			2,638
Finance lease right-of-use assets		19,948			19,948
Construction in progress 1		210,779			-
Other		781			1,116
Total mineral properties, plant and equipment		816,086			402,659
Accumulated depreciation		(6,000	)		(3,711	)
Mineral properties, plant and equipment, net	$	810,086		$	398,948

1 At June 30, 2025, includes prepaid construction costs of $82,353 and deposits on long-lead equipment of $128,426, all related to Thacker Pass.

During the three and six months ended June 30, 2025, stock-based compensation related to restricted share units (“RSUs”) of $281 and $626, respectively, was capitalized to Thacker Pass (2024 - $644 and $1,190). During the three and six months ended June 30, 2024, stock-based compensation related to performance share units (“PSUs”) of $59 and $119, respectively, was capitalized to Thacker Pass.