Convertible Debt, Royalty and Production Payment Arrangements (Tables)

6 Months Ended

Jun. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Proceeds of Investment

On April 1, 2025, the Company allocated the proceeds of the Orion Investment as follows:


Convertible Debt		$	94,875
Embedded Derivative - conversion feature			97,200
Less: deferred transactions costs			(4,274	)
Total proceeds allocated to the Convertible Debt		$	187,801

Production Payment Agreement			25,000
Less: deferred transactions costs			(1,047	)
Total proceeds allocated to the Production Payment Agreement		$	23,953

Schedule of Reconciliation Includes Initial Recognition of the Components of Investment

The following reconciliation includes initial recognition of the components of the Orion Investment and activity to June 30, 2025:


		Convertible Debt													Production Payment
		Principal			Unamortized Discount			Embedded Derivative			Total Convertible Debt				Principal
Initial recognition on April 1, 2025		$	195,000		$	(104,399	)	$	97,200		$	187,801			$	23,953
Deferred interest cost			4,815			-			-			4,815				-
Discount amortization			-			1,047			-			1,047				1,775
Change in fair value recognized in statement of loss			-			-			(6,762	)		(6,762	)			-
Balance, June 30, 2025		$	199,815		$	(103,352	)	$	90,438		$	186,901			$	25,728

Summary of royalty subject to repurchase recorded as a financial liability

The portion of the royalty subject to repurchase has been recorded as a financial liability carried at amortized cost.


		June 30, 2025				December 31, 2024
Production Payment Agreement		$	25,728			$	-
Royalty			20,936				20,715
Total		$	46,664			$	20,715