Income taxes (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Income taxes |
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| Schedule of components of income tax expense and benefits |
| | | | | | | 2025 | | 2024 | | | $ | | $ | Current income tax | | | | | Expense for the year | | 477 | | — | Current income tax expense | | 477 | | — | | | | | | Deferred income tax | | | | | Origination and reversal of temporary differences | | (26,430) | | (15,712) | Change in unrecognized deductible temporary differences | | 25,887 | | 16,360 | Other | | — | | — | Deferred income tax (recovery) expense | | (543) | | 648 | Income tax (recovery) expense | | (66) | | 648 |
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| Schedule of reconciliation of income |
| | | | | | | | | | | | 2025 | | 2024 | | | $ | | $ | Loss before income taxes | | (159,540) | | (56,605) | Income tax provision calculated using the Canadian federal and provincial statutory income tax rate | | (42,278) | | (15,001) | Increase in income taxes resulting from: | | | | | Non-deductible expenses, net | | 639 | | 850 | Non-deductible portion of capital (gain) losses, net | | (2,982) | | 2,187 | Change in fair value of warrant liability | | 23,436 | | (5,265) | Share of loss of associates | | (295) | | 140 | Change in unrecognized deferred tax assets | | 25,887 | | 16,360 | Differences in foreign statutory tax rates and other rate differences | | (2,954) | | 467 | Other | | (1,519) | | 910 | | | (66) | | 648 |
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| Schedule of deferred tax assets and liabilities |
| | | | | | | 2025 | | 2024 | | | $ | | $ | Deferred tax assets: | | | | | Non-capital losses | | 34,336 | | 32,099 | Investments | | — | | 648 | Deferred tax assets | | 34,336 | | 32,747 | | | | | | Deferred tax liabilities: | | | | | Mining interests and property, plant and equipment | | (29,764) | | (28,399) | Exploration and evaluation | | (3,038) | | (2,900) | Other | | (1,534) | | (1,448) | Deferred tax liability | | (34,336) | | (32,747) | Deferred tax liability, net | | — | | — |
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| Schedule of movement for deferred tax assets and deferred tax liabilities |
| | | | | | | 2025 | | 2024 | | | $ | | $ | The movement for deferred tax assets and deferred tax liability balances in the year is as follows: | | | | | | | | | | Balance - beginning of year | | — | | — | Recognized in income tax (recovery) expense | | (543) | | 648 | Recognized in OCI | | 543 | | (648) | | | — | | — |
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| Schedule of unrecognized deferred tax assets |
| | | | | | | | | | | | 2025 | | 2024 | | | $ | | $ | Non-capital losses carried forward | | 125,723 | | 109,996 | Unrealized losses on investments | | 1,113 | | 2,232 | Inventories | | — | | 6,437 | Mining interests and property, plant and equipment | | 3,376 | | 29,538 | Mineral stream interests – Mexico | | — | | 11,051 | Environmental rehabilitation provision | | 21,095 | | 16,332 | Other | | 19,788 | | 11,231 | | | 171,095 | | 186,817 |
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