v3.26.1
Consolidated Statements of Cash Flows - CAD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating cash flows    
Loss for the year $ (47,572,620) $ (50,268,354)
Adjustments for:    
Depreciation 827,879 813,654
Gains (losses) on investments (6,347,116) 2,908,253
Impairment reversal on equity investment (1,000,237)  
Income and mining tax recoveries - deferred (394,570)  
Change in estimate of reclamation and closure cost provisions (266,257)  
Accretion on reclamation and closure cost provisions 38,660  
Interest income (1,418,145) (2,869,403)
Interest expense 22,877 25,105
Gain on secured notes (55,911) (140,786)
Settlement of legal claim   1,750,100
Unrealized foreign exchange loss (gain) 116,519 (224,187)
Settlement of flow-through share premium (7,565,501) (12,426,322)
Settlement of reclamation obligations (151,051)  
Interest received 1,342,959 2,566,685
Share-based compensation 6,284,821 889,045
Operating cash flow before changes in non-cash working capital (56,137,693) (56,976,210)
Change in non-cash working capital (Note 24) 990,426 1,293,150
Net cash and cash equivalents used in operating activities (55,147,267) (55,683,060)
Investing cash flows    
Cash acquired from Maritime acquisition 9,028,587  
Purchases of exploration and evaluation assets (1,483,911) (3,858,669)
Proceeds from sale of secured notes 2,778,000  
Proceeds on disposal of investments 752,634 1,097,814
Purchases of property, plant and equipment (1,776,242) (625,775)
Interest received on secured notes   378,040
Other assets (37,023) (179,703)
Net cash and cash equivalents from (used in) investing activities 9,262,045 (3,188,293)
Financing cash flows    
Proceeds from issuance of common shares 83,480,001 27,522,494
Share issue costs (4,004,528) (924,657)
Stock options exercised 2,547,271 862,500
Warrants exercised 516,666  
Repayment of loans (22,841)  
Lease principal payments (35,719) (134,001)
Loan and lease interest payments (52,507) (25,105)
Net cash and cash equivalents from financing activities 82,428,343 27,301,231
Effect of exchange rate fluctuations on cash and cash equivalents (21,970) 2,861
Net increase (decrease) in cash and cash equivalents 36,521,151 (31,567,261)
Cash and cash equivalents at beginning of year 22,317,548 53,884,809
Cash and cash equivalents at end of year $ 58,838,699 $ 22,317,548