v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operations    
Net loss for the year $ (42,289) $ (77,081)
Adjustments for:    
Finance cost 5,737 5,070
Finance income (1,126) (2,013)
Income tax 568
Foreign exchange (1,366) 1,042
Share-based compensation 3,903 3,998
Amortization 1,099 1,012
Warintza royalty sale 188
Reclamation provision 543 2,216
Other (9) 6
Net changes in non-cash working capital items:    
Prepaids and other 86 (299)
Accounts payable and accrued liabilities (8,992) 7,565
Reclamation provision settlement (125) (13)
Deferred revenue 90,000
Other long-term liability 48 103
Net cash flows from/(used in) operating activities 48,265 (58,394)
Financing    
Proceeds from issuing of common shares 244 39,625
Share issuance and loan finance costs paid (7,257) (1,895)
Proceeds from the exercise of stock options 463 26
Loan drawdown 15,000 15,000
Loan repayment (60,000)
Payment of lease liability (250) (240)
Contribution from non-controlling interest 67
Other finance costs paid (53) (105)
Net cash flows (used in)/from financing activities (51,853) 52,478
Investing    
Restricted cash contribution (250)
Capital expenditure on property, plant and equipment (2,281) (2,406)
Capital expenditure on exploration and evaluation assets (1,888) (250)
Finance income received 1,126 1,993
Net cash flows used in investing activities (3,293) (663)
Effect of exchange rate change on cash and cash equivalents 353 (548)
Decrease in cash and cash equivalents (6,528) (7,127)
Cash and cash equivalents, beginning of year 31,738 38,865
Cash and cash equivalents, end of year $ 25,210 $ 31,738