v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities:    
Net loss $ (7,835,939) $ (4,405,065)
Adjustment to reconcile net loss to cash used in operating activities:    
Accretion of asset retirement obligation 871,000 207,400
Depreciation 17,977
Non-Cash Interest Expense 458,619
Change in fair value of liabilities 1,955,000
Operating and prepaid expenses paid by related party 1,367,649
Compensation expense 362,093
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (125,529) (38,459)
Other receivables (7,481) (1,012)
Accounts receivable – related party (90,499)
Accounts payable 664,371 2,925,359
Accounts payable – related party (1,313,336) (2,705,019)
Accrued expenses and other liabilities 544,712 462,816
Net cash used in operating activities (4,499,012) (2,186,331)
Cash Flows from Investing Activities:    
Capitalized asset acquisition costs
Purchase of fixed assets (2,798)
Net cash used in investing activities (2,798)
Cash Flows from Financing Activities:    
Proceeds from convertible notes 1,823,243 2,217,089
Proceeds from Business Combination 13,264
Issuance of Ordinary Shares 2,870,496
Net cash used in financing activities 4,707,003 2,217,089
Effect of exchange rate changes on cash and cash equivalents (68,051) (8,740)
Net increase in cash 137,142 22,018
Cash and cash equivalents, beginning of period 170,557
Cash, end of period 307,699 22,018
Supplemental cash flow information:    
Interest paid 36,406
Taxes paid
Noncash investing and financing activities:    
Acquisition of Mineral rights in exchange for certain obligations 323,600,000
Acquisition of Property, plant and equipment, net in exchange for certain obligations 44,600,000
Assumption of royalty payable in exchange for mineral rights and property, plant and equipment, net 338,200,000
Assumption of contingent consideration liability in exchange for mineral rights and property, plant and equipment, net 17,100,000
Assumption of asset retirement obligation in connection with obtaining mineral rights and property, plant and equipment 12,900,000
Accounts payable, accrued liabilities and other current liabilities combined 3,013,837
Convertible notes payable combined 770,000
Warrant liabilities combined $ 230,000