v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 64,837,617 $ 20,058,477
Restricted cash 106,365 257,045
Prepaid expenses and other 3,290,962 1,114,522
Income taxes receivable 106,244 649,125
Total current assets 68,341,188 22,079,169
LONG-TERM ASSETS:    
Investment in Peak Gold, LLC 47,108,733 60,523,622
Property & equipment, net 52,065,293 50,577,097
Marketable securities 4,436,013 712,375
Total long-term assets 103,610,039 111,813,094
TOTAL ASSETS 171,951,227 133,892,263
CURRENT LIABILITIES:    
Accounts payable 1,014,233 418,836
Accrued liabilities 4,336,813 2,803,598
Royalty reimbursement advance 488,045 855,548
Derivative contract liability 66,465,622 29,076,582
Debt, current portion 4,000,000 42,600,000
Total current liabilities 76,304,713 75,754,564
NON-CURRENT LIABILITIES:    
Royalty reimbursement advance 0 217,086
Asset retirement obligations 123,444 255,769
Contingent consideration liability 2,757,952 1,100,480
Derivative contract liability 37,191,718 28,615,525
Debt non-current portion, net 29,857,758 26,369,199
Deferred tax liability 617,353 306,995
Total non-current liabilities 70,548,225 56,865,054
TOTAL LIABILITIES 146,852,938 132,619,618
COMMITMENTS AND CONTINGENCIES (NOTES 8 and 12)
STOCKHOLDERS' EQUITY:    
Preferred Stock, 15,000,000 shares authorized
Common Stock, $0.01 par value, 45,000,000 shares authorized; 14,968,929 shares issued and 14,966,449 shares outstanding as of December 31, 2025; 12,230,959 shares issued and 12,228,479 shares outstanding as of December 31, 2024 149,687 122,308
Additional paid-in capital 238,155,692 178,270,782
Treasury stock at cost (2,480 at December 31, 2025; and 2,480 shares at December 31, 2024) (48,308) (48,308)
Accumulated deficit (213,158,782) (177,072,137)
TOTAL STOCKHOLDERS' EQUITY 25,098,289 1,272,645
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 171,951,227 $ 133,892,263