Balance at January 1, 2024

$

4,299

$

849

$

5,148

FedNor loan – February 2024

2,267

-

2,267

FedNor Loan – April 2024

2,000

-

2,000

FedNor Loan (Nickel Study) - Payment

(45

)

-

(45

)

FedNor Loan – August 2024

1,000

-

1,000

Allocation to government grant

(2,275

)

2,275

-

Accretion

578

-

578

Balance at December 31, 2024

$

7,824

$

3,124

$

10,948

FedNor Loan (Nickel Study) - Payment

(27

)

-

(27

)

Accretion

368

-

368

Extinguishment of government loans

(8,017

)

-

(8,017

)

Recognition of new government loans due to extension of repayment commencement date

4,706

-

4,706

Accretion

342

-

342

Balance at December 31, 2025

$

5,196

$

3,124

$

8,320