v3.26.1
Consolidated Statements of Changes in Equity - USD ($)
$ in Thousands
Common Shares
At-the-Market Equity Offering
Common Shares
2025 Registered Direct Offering
Common Shares
2024 Registered Direct Offering
Common Shares
Class A Warrants
Common Shares
Class B Warrants
Common Shares
Class C Warrants
Common Shares
Additional Paid-in Capital
2025 Registered Direct Offering
Additional Paid-in Capital
2024 Registered Direct Offering
Additional Paid-in Capital
Class A Warrants
Additional Paid-in Capital
Class B Warrants
Additional Paid-in Capital
Class C Warrants
Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Deficit
At-the-Market Equity Offering
2025 Registered Direct Offering
2024 Registered Direct Offering
Class A Warrants
Class B Warrants
Class C Warrants
Total
Balance at Dec. 31, 2023             $ 438,239           $ 122,797 $ (1,216) $ (548,902)             $ 10,918
Balance (in shares) at Dec. 31, 2023             306,558,710                              
Issuance of shares and warrants under, net of expenses     $ 9,743       $ 17,190           6,023                 23,213
Issuance of shares and warrants under, net of expenses (in shares)     14,900,000       19,400,000                              
Adjustment to Class A warrant                         590   (590)              
Shares issued from At-the-Market Equity Distribution Agreement $ 4,866                             $ 4,866            
Shares issued from At-the-Market Equity Distribution Agreement (in shares) 3,251,588                             3,251,588            
Conversion of restricted share units, net of shares withheld for taxes             $ 14,954           (14,954)                  
Conversion of restricted share units, net of shares withheld for taxes (in shares)             10,734,581                              
Exercise of stock options             $ 1,891           (1,428)                 463
Exercise of stock options (in shares)             715,772                              
Share purchase under Employee Share Purchase Plan             $ 77           (38)                 39
Share purchase under Employee Share Purchase Plan (in shares)             47,809                              
Foreign currency translation adjustment                           13               13
Share-based compensation and expenses settled with equity                         25,313                 25,313
Loss for the period                             (81,943)             (81,943)
Balance at Dec. 31, 2024             $ 477,217           138,303 (1,203) (631,435)             (17,118)
Balance (in shares) at Dec. 31, 2024             340,708,460                              
Issuance of shares and warrants to Korea Zinc             $ 71,686           13,432                 85,118
Issuance of shares and warrants to Korea Zinc (in shares)             19,623,376                              
Issuance of shares and warrants under, net of expenses   $ 24,149 $ 2,237         $ 12,548 $ 2,763               $ 36,697 $ 5,000        
Issuance of shares and warrants under, net of expenses (in shares)   12,333,333 5,000,000                           12,333,333          
Shares issued from At-the-Market Equity Distribution Agreement $ 14,784                             $ 14,784            
Shares issued from At-the-Market Equity Distribution Agreement (in shares) 7,542,996                             7,542,996            
Exercise of warrants       $ 5,539 $ 17,024 $ 12,838       $ (1,712) $ (7,224) $ (2,353)             $ 3,827 $ 9,800 $ 10,485  
Exercise of warrants (in shares)       1,913,270 8,433,096 2,330,000                                
Conversion of restricted share units, net of shares withheld for taxes             $ 41,355           (41,355)                  
Conversion of restricted share units, net of shares withheld for taxes (in shares)             20,296,128                              
Exercise of stock options             $ 14,423           (11,410)                 3,013
Exercise of stock options (in shares)             4,746,546                              
Share purchase under Employee Share Purchase Plan             $ 91           (24)                 67
Share purchase under Employee Share Purchase Plan (in shares)             39,128                              
Nauru and Tonga warrant cost                         38,056             $ 7,200 $ 12,500 38,056
Share-based compensation and expenses settled with equity                         96,672                 96,672
Loss for the period                             (319,844)             (319,844)
Balance at Dec. 31, 2025             $ 681,343           $ 237,696 $ (1,203) $ (951,279)             $ (33,443)
Balance (in shares) at Dec. 31, 2025             422,966,333