v3.26.1
Consolidated Statements of Financial Position - CAD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 39,024 $ 3,717
Marketable securities (Note 8) 0 12
Prepaid expenses and deposits 812 672
Receivables (Note 5) 666 1,310
Current assets 40,502 5,711
Non-Current Assets    
Exploration and evaluation assets (Note 7) 88,776 93,200
Property, plant and equipment (Note 6) 55,078 51,189
Capital long-term prepayments (Note 6) 0 139
Long-term restricted cash 1,208 1,208
Total Assets 185,564 151,447
Current Liabilities    
Accounts payable and accrued liabilities 5,817 3,579
Accrued interest 0 2,799
Convertible notes payable (Note 11) 0 63,963
Warrants (Note 11) 0 1,582
US warrants (Note 14 and 17 (c)) 81,658 0
Lease liability (Note 15) 55 50
Deferred government grant (Note 10) 642 0
Current liabilities 88,172 71,973
Non-Current Liabilities    
Government grants (Note 10) 3,124 3,124
Royalty (Note 12) 2,338 1,283
Balance at December 31 – Long-term portion 27 83
Asset retirement obligations (Note 9) 2,289 2,842
Total Liabilities 139,314 87,129
Shareholders’ Equity    
Common shares (Note 16) 419,966 307,723
Reserve (Note 16) 33,143 26,848
Accumulated other comprehensive income 1,498 4,639
Deficit (408,357) (274,892)
Total Shareholders’ Equity 46,250 64,318
Total Liabilities and Shareholders’ Equity 185,564 151,447
Term loan [member]    
Non-Current Liabilities    
Long term borrowings 38,168 0
Government loan payable [member]    
Non-Current Liabilities    
Long term borrowings $ 5,196 $ 7,824