Note 18 - Related Party Transactions |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | 18. Related Party Transactions The Company has identified its relationship with Peak Gold JV as a related party. During the fiscal year ended December 31, 2025, the Company has received distributions and during the year ended December 31, 2024 made contributions and received distributions. See note 10 - Investment in the Peak Gold JV. Additionally, the Company purchased gold from Peak Gold JV. See note 14 - Debt. As of December 31, 2025, the Company owes Peak Gold JV $0.2 million related to these purchases. As of December 31, 2024, no amounts were owed to Peak Gold JV. These amounts are non-interest bearing with standard payment terms. For further details on transactions with Peak Gold JV, refer to notes 1 - Organization and Business, 3 - Liquidity, 12 - Commitments and Contingencies, 15 - Derivatives and Hedging Activities, and 17 - Segments. The Company holds an investment in marketable securities, consisting of approximately 5% of the outstanding shares of Onyx. The Company and Onyx share two directors. As of December 31, 2025, a total of 2,500,000 of the shares are freely tradable, while the remaining 1,500,000 are in escrow and are scheduled to be released in two tranches by July 2026. In addition, the Company entered into lock-up agreements with Onyx, whereby the Company requires Onyx's approval if it wishes to sell prior to the expiry of July 2026. See Note 4 - Summary of Significant Accounting Policies for fair values of marketable securities. The Company uses specific identification method when calculating realized gains or losses. The Company recorded realized gains of $0.7 million and $nil for the years ended December 31, 2025 and 2024, respectively. Those gains are included in Gain / (Loss) on Marketable Securities caption in the accompanying consolidated statements of operations. During the year ended December 31, 2025, the Company engaged Bonnie Broman as a consultant to provide corporate communications, corporate development and administrative support services. Ms. Broman is the domestic partner of Mr. Van Nieuwenhuyse, the Company’s Chief Executive Officer. Pursuant to the consulting arrangement, Ms. Broman received total compensation of $167,000 during fiscal 2025, consisting of consulting fees of $112,000, equity compensation of $19,000, and a discretionary bonus of $36,000. As of December 31, 2025, the Company had $36,000 payable to Ms. Broman related to the discretionary bonus, which is included in accounts payable and accrued liabilities on the consolidated balance sheet. The consulting arrangement was approved by the Board of Directors. |