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0.10 60000000 <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:18pt">2)</td> <td style="margin-top:0pt;margin-bottom:0pt;width:auto">Statement of compliance</td> </tr> </table> These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") applicable to a going concern. The material accounting policies applied in these consolidated financial statements are presented in note 3 and are based on IFRS effective as at December 31, 2025. The consolidated financial statements were approved by the Board of Directors of the Company on March XX,2026. </div>

<div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:39.0023%;border-top:1.5pt solid #000000;white-space:nowrap;padding-left:4pt;padding-right:4pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;width:17.0068%;border-top:1.5pt solid #000000;white-space:nowrap;padding-left:4pt;padding-right:4pt;vertical-align:bottom"> </td> <td colspan="2" style="width:14%;padding-right:4pt;padding-left:4pt;vertical-align:bottom;text-align:center;border-top:1.5pt solid #000000;white-space:nowrap">December 31,</td> <td style="margin-top:0pt;margin-bottom:0pt;width:13.9456%;border-top:1.5pt solid #000000;white-space:nowrap;padding-left:4pt;padding-right:4pt;vertical-align:bottom"> </td> <td style="padding-right:4pt;padding-left:4pt;vertical-align:bottom;text-align:center;width:13.9456%;border-top:1.5pt solid #000000;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:39.0023%;border-bottom:0.75pt solid #000000;white-space:nowrap;padding-left:4pt;padding-right:4pt;vertical-align:bottom">Name</td> <td style="width:17.0068%;padding-right:4pt;padding-left:4pt;vertical-align:bottom;text-align:center;border-bottom:0.75pt solid #000000;white-space:nowrap">Property (Country)</td> <td style="width:7%;padding-right:4pt;padding-left:4pt;vertical-align:bottom;text-align:center;border-bottom:0.75pt solid #000000;white-space:nowrap">2025</td> <td style="width:7%;padding-right:4pt;padding-left:4pt;vertical-align:bottom;text-align:center;border-bottom:0.75pt solid #000000;white-space:nowrap">2024</td> <td style="width:13.9456%;padding-right:4pt;padding-left:4pt;vertical-align:bottom;text-align:center;border-bottom:0.75pt solid #000000;white-space:nowrap">Arrangement</td> <td style="padding-right:4pt;padding-left:4pt;vertical-align:bottom;text-align:center;width:13.9456%;border-bottom:0.75pt solid 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style="margin-top:0pt;margin-bottom:0pt;width:39.0023%;padding-left:4pt;padding-right:4pt;background-color:#e6efff">Largo Commodities Trading Ltd.</td> <td style="width:17.0068%;padding-right:4pt;padding-left:4pt;vertical-align:middle;text-align:center;background-color:#e6efff">N/A (Ireland)</td> <td style="width:7%;padding-right:4pt;padding-left:4pt;vertical-align:middle;text-align:center;background-color:#e6efff">100%</td> <td style="width:7%;padding-right:4pt;padding-left:4pt;vertical-align:middle;text-align:center;background-color:#e6efff">100%</td> <td style="width:13.9456%;padding-right:4pt;padding-left:4pt;vertical-align:middle;text-align:center;background-color:#e6efff">Subsidiary</td> <td style="width:13.9456%;padding-right:4pt;padding-left:4pt;vertical-align:middle;text-align:center;background-color:#e6efff">Consolidation</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:39.0023%;padding-left:4pt;padding-right:4pt">Largo Resources USA Inc.</td> <td 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0.9995

0.9994

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<div> 4. Mine properties, plant and equipment and depreciation Property, plant and equipment are recorded at cost less accumulated depreciation, depletion, and impairment losses. Cost includes all expenditures directly attributable to bringing the asset into operation. Subsequent costs are capitalized only when future economic benefits are probable; otherwise, they are expensed as incurred. Assets are derecognized upon disposal or when no future economic benefits are expected, with any gain or loss recognized in profit or loss. Effective from the point an asset is available for its intended use, mine properties, plant and equipment are depreciated using either the straight line, or units-of-production methods over the shorter of the estimated economic life of the asset or the mining operation. Depreciation and amortization are determined based on the method which best represents the use of the assets. The reserve and resource estimates for each mining operation are the prime determinants of the life of a mine. In general, when the useful life of mine properties, plant and equipment is akin to the life of the mining operation and the ore body's mineralization is reasonably well defined, the asset is depreciated on a units-of-production basis over its proven and probable mineral reserves. The Company evaluates the estimate of mineral reserves and resources at least on an annual basis and adjusts the units-of-production calculation prospectively. The Company does not incorporate any non-reserve material in its depreciation calculations on a units-of-production basis. Life of Mine ("LOM") plans are typically developed annually and are based on management's current best estimates of optimized mine and processing plans, future operating costs and the assessment of capital expenditures of the mine site. Any change in the useful life is adjusted prospectively. <div></div> The estimated useful lives for buildings, machinery and equipment range from 10 to 30 years. Office equipment and computers are depreciated using the straight-line method, with estimated useful lives of 3 to 5 years, respectively. Vehicles are depreciated using the declining balance method using a rate of 20%. Costs associated with stripping activities in an open pit mine are expensed within cost of sales unless the stripping activity can be shown to improve access to further quantities of ore that will be mined in future periods, in which case, the stripping costs are capitalized to mining properties within property, plant and equipment. Furthermore, stripping costs are capitalized to inventory to the extent that the benefits of the stripping activity relate to production inventories or ore stockpiles. Capitalized stripping costs are depreciated over the reserves that directly benefit from the specific stripping activity using the units-of-production method. Capitalized borrowing costs are amortized over the useful life of the related asset. Residual values, useful lives and amortization methods are reviewed at least annually and adjusted if appropriate. The impact of changes to the estimated useful lives is accounted for prospectively. </div>

10 to 30 years

straight-line method

3 to 5 years

declining balance method

0.20

<div style="margin-top:0pt;margin-bottom:0pt"> 7. Revenues Revenues include sales of vanadium products and ilmenite products. The Company's three principal vanadium products are vanadium pentoxide ("V2O5"), ferrovanadium ("FeV"), and vanadium trioxide ("V2O3"). The Company recognizes revenue when it transfers control of a product to the customer. The principal activity from which the Company generates its revenue is the sale of vanadium products to third parties, and from the sale of ilmenite to third parties. Delivery of the vanadium and ilmenite product is the only performance obligation. Revenues are measured based on the consideration specified in the contract with the customer. For contracts that are assessed as being a sale with a right of return, revenues are recognized to the extent that it is highly probable that a significant reversal in the amount of the cumulative revenue recognized will not occur. Therefore, the amount of revenue recognized is adjusted for this constrained variable consideration. In these circumstances, a refund liability ("revenues subject to refund") and a right to recover returned goods asset ("inventory subject to return") are recognized. Inventory subject to return is measured at the former carrying amount of the inventory less any expected costs to recover the vanadium and impairement losses. The Company reviews its assessment of constraints on variable consideration at each reporting date and updates the amounts of the asset and liability accordingly. The Company determines whether it acts as a principal or an agent by assessing whether it controls the specified good or service before it is transferred to the customer. The Company is considered a principal when it has control, as evidenced by factors such as primary responsibility for fulfillment, inventory risk, and pricing discretion, and in these cases recognizes revenue on a gross basis. The Company is considered an agent when it arranges for another party to provide the goods or services and does not control them prior to transfer, in which case it recognizes revenue on a net basis equal to the fee or commission earned. </div>

<div> 9. Taxation Income and deferred income tax expense or recovery is comprised of current and deferred tax. Current and deferred taxes are recognized in the consolidated statement of income (loss) and comprehensive income (loss) except to the extent that they relate to an asset acquisition, or items recognized directly in equity or in other comprehensive income (loss). The Company recognizes liabilities for anticipated tax audit issues based on estimates of whether it is probable that additional taxes will be due. • Current tax Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using the tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of the previous years. • Deferred tax Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are generally recognized for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilized. Such deferred tax assets and liabilities are not recognized if the temporary difference arises from goodwill or from the initial recognition (other than in a business combination) of other assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit. <div></div> Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries, except where the Company can control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments and interests are only recognized to the extent that it is probable that there will be sufficient taxable profits against which to utilize the benefits of the temporary differences and they are expected to reverse in the foreseeable future. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the assets to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realized, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the way the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its tax assets and liabilities on a net basis. </div>

<div> 10. Financial instruments Financial instruments are recognized on the consolidated statement of financial position on the trade date, the date on which the Company or its subsidiaries become party to the contractual provisions of the financial instrument. All financial instruments are required to be classified and measured at fair value on initial recognition. A financial asset is derecognized either when the Company has transferred substantially all the risks and rewards of ownership of the financial asset or when cash flows expire. Financial liability is derecognized when the obligation specified in the contract is discharged, cancelled or expired. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is recognized in the consolidated statement of income (loss) and comprehensive income (loss). Certain financial instruments are recorded at fair value in the consolidated statement of financial position. Subsequent to initial recognition, non-derivative financial instruments are classified and measured as described below. Amortized cost Amounts receivables are classified as and measured at amortized cost using the effective interest rate ("EIR") method, less expected credit losses. Amortized cost is calculated by considering any discount or premium on acquisition and fees or costs that are an integral part of the EIR. EIR amortization is included in finance costs in the consolidated statement of income (loss) and comprehensive income (loss). <div></div> Non-derivative financial liabilities Accounts payable and accrued liabilities, debt, and other long-term liabilities are classified as and accounted for at amortized cost, using the EIR method. The amortization of any long-term debt issue costs is calculated using the EIR method. Gains and losses are recognized in the consolidated statement of income (loss) and comprehensive income (loss) when the liabilities are derecognized, as well as through the EIR amortization process. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. Fair value of financial instruments The fair value of financial instruments that are traded in active markets at each reporting date is determined by reference to quoted market prices or dealer price quotations (bid price for long positions and ask price for short positions), without any deduction for transaction costs. For financial instruments not traded in an active market, the fair value is determined using appropriate valuation techniques. Such techniques may include using recent arm's length market transactions; reference to the current fair value of another instrument that is substantially the same; discounted cash flow analysis or other valuation models. Impairment of financial assets The Company recognizes loss allowances for expected credit losses ("ECLs") on its financial assets measured at amortized cost. When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Company considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Company's historical experience and informed credit assessment and including forward-looking information. The Company assumes that the credit risk on a financial asset has increased significantly if it is more than 60 days past due and considers a financial asset to be in default if it is more than 120 days past due. The Company does not have a history of any defaults or non-collections. ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls, which is the difference between the cash flow due to the Company and the cash flow expected to be received. </div>

13. Investments in equity-accounted investees The Company's investments in equity-accounted investees include investments in an associate. Associates are those entities over which the Company has significant influence, but not control or joint control, over the financial and operating policies. Significant influence is presumed to exist when the Company holds between 20% and 50% of the voting power of another entity but can also arise where the Company holds less than 20% if it has the power to be actively involved and influential in policy decisions affecting the entity. Investments in the associate are accounted for using the equity method. The equity method involves the recording of the initial investment at cost and the subsequent adjusting of the carrying value of the investment for the Company’s proportionate share of the earnings or loss and OCI and any other changes in the associates’ net assets, such as dividends. The cost of the investment includes transaction costs. Adjustments are made to align the accounting policies of the associate with those of the Company before applying the equity method. When the Company’s share of losses exceeds its interest in an equity-accounted investee, the carrying amount of that interest is reduced to zero, and the recognition of further losses is discontinued except to the extent that the Company has incurred legal or constructive obligations or made payments on behalf of the associate. If the associate subsequently reports profits, the Company resumes recognizing its share of those profits only after its share of the profits equals the share of losses not recognized. estimated recoverable amount exceeded its carrying amount of $172,592 and no impairment charge was required. <div> <div style="margin-left:54pt"> <table style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:50%;padding-left:5pt;padding-right:5pt;vertical-align:top;text-align:justify;border:0.75pt solid #000000">Discount rate</td> <td style="width:50%;padding-left:5pt;padding-right:5pt;vertical-align:top;text-align:justify;border:0.75pt solid #000000">6.98%</td> </tr> <tr> <td style="width:50%;padding-left:5pt;padding-right:5pt;vertical-align:top;text-align:justify;border:0.75pt solid #000000">Period of cash flow projections</td> <td style="width:50%;padding-left:5pt;padding-right:5pt;vertical-align:top;text-align:justify;border:0.75pt solid #000000">2054</td> </tr> <tr> <td style="width:50%;padding-left:5pt;padding-right:5pt;vertical-align:top;text-align:justify;border:0.75pt solid #000000">Range of vanadium forecasted prices</td> <td style="width:50%;padding-left:5pt;padding-right:5pt;vertical-align:top;text-align:justify;border:0.75pt solid #000000">$5.19/lb - 8.00/lb</td> </tr> <tr> <td style="width:50%;padding-left:5pt;padding-right:5pt;vertical-align:top;text-align:justify;border:0.75pt solid #000000"> Cost of mine and production, respectively </td> <td style="width:50%;padding-left:5pt;padding-right:5pt;vertical-align:top;text-align:justify;border:0.75pt solid #000000"> $2.11/t and $5.07/lb , respectively </td> </tr> <tr> <td style="width:50%;padding-left:5pt;padding-right:5pt;vertical-align:top;text-align:justify;border:0.75pt solid #000000">Sensitivity of key assumptions</td> <td style="width:50%;padding-left:5pt;padding-right:5pt;vertical-align:top;text-align:justify;border:0.75pt solid #000000"> If changes in the following assumptions in the cashflow: <div> <ul> <li style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:10pt;margin-bottom:0pt;margin-left:-18pt">Discount rate - increase to 25.50% or;</li> <li style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt;margin-left:-18pt">The average vanadium forecasted prices would have to change from $7.72/lb to $6.18/lb or; </li> <li style="font-size:10pt;font-family:Times New Roman, Times, serif;margin-top:0pt;margin-bottom:0pt;margin-left:-18pt">Costs of mine would have to increase from $2.11/t to $3.71/t and cost of production would have to increase from $5.07/lb to $6.59/lb.</li> </ul> Result in an estimated recoverable amount equal to the carrying value. </div> </td> </tr> </table> </div> </div> 0.0698 $5.19/lb - 8.00/lb $2.11/t and $5.07/lb , respectively Discount rate - increase to 25.50% or; The average vanadium forecasted prices would have to change from $7.72/lb to $6.18/lb or; Costs of mine would have to increase from $2.11/t to $3.71/t and cost of production would have to increase from $5.07/lb to $6.59/lb. Result in an estimated recoverable amount equal to the carrying value.

3412000

5471000

7272000 4171000

50000

71000

331000

28000

11065000

9741000

0.85 10000000 0.15 0.0051 0.0137 0.005

one-month U.S. Secured Overnight Financing Rate ("SOFR") plus 1.75%

15343000 2239000 1000000 0.10 2843000

336000

490000

10413000

10319000

49511000

47538000

20439000 13897000 869000 4340000 36000 238000

1000000 6000000

0.50

1000000

<div> <div style="margin-left:18pt"> <table style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">December 31, 2025</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">December 31, 2024</td> <td style="vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom">Total current assets</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7">4,414</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left">$</td> <td style="vertical-align:bottom;width:12%;text-align:right">-</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom">Total non-current assets</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7">10,923</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">-</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom">Total current liabilities</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7">(2,929</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">-</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom">Total non-current liabilities</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">(3,125</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000">Total net assets</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">9,283</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;border-bottom:1.5pt solid #000000">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap">December 31, 2024</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom">Revenue</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7">6</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">-</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000">Net loss</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;width:12%;text-align:right;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">(12,807</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000">$</td> <td style="vertical-align:bottom;width:12%;text-align:right;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> </tr> </table> </div> </div>

4414000

10923000

2929000

3125000

9283000

6000

-12807000

10830000

1000000 0

11830000

-6651000 0 5179000 0

-6189000

10830000

-6189000

4641000

P2Y

P3Y

4366000

4207000

8573000

4366000

4207000

1310000

1110000

2420000

218000

842000

1060000

1528000

1952000

841000

2793000

2255000

1414000

<div style="margin-top:0pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:18pt">8)</td> <td style="margin-top:0pt;margin-bottom:0pt;width:auto">Mine properties, plant and equipment</td> </tr> </table> At December 31, 2025, the Company's economic interest in the Maracás Menchen Mine totaled 99.95% (December 31, 2024 - 99.4%). The remaining 0.05% economic interest is held by Companhia Baiana de Pesquisa Mineral ("CBPM") owned by the state of Bahia. CBPM retains a 3% net smelter royalty ("NSR") in the Maracás Menchen Mine. The property is also subject to a royalty of 2% on certain operating costs under the Brazilian Mining Act. Under a separate agreement, a third party receives a 2% NSR in the Maracás Menchen Mine. The recoverable amount of the Mine Properties CGUs was determined by calculating the FVLCD. The FVLCD was determined by calculating the net present value of the estimated future cash flows (level 3 of the fair value hierarchy). <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Computer Equipment </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Vehicles</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Mine Properties</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Buildings, Plant and Equipment</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Construction In Progress</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Cost</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Balance at December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">5,689</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">346</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">139,094</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">240,061</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">11,771</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">396,961</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Additions</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">1</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">13,666</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">10,492</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">14,429</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">38,588</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Disposals and write-offs</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(10</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(4,664</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(4,674</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Assets held for sale (note 6)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(4,894</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(5,679</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(10,573</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Reclassifications</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">9,007</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(9,007</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Effects of changes in foreign exchange rates</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(116</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(76</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(26,796</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(53,236</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(3,483</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(83,707</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Balance at December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">670</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">270</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">125,964</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">195,981</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">13,710</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">336,595</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Additions</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">77</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">21,126</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">3,347</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">2,986</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">27,536</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Disposals and write-offs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(126</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(249</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(757</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(1,132</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Reclassifications</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">12,156</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(12,156</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Effects of changes in foreign exchange rates</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">56</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">37</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">13,231</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">24,890</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">1,509</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">39,723</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;border-bottom:0.75pt solid #000000">Balance at December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">677</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">58</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">160,321</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">235,617</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">6,049</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">402,722</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> </tr> </table> </div> <div></div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;width:33.3333%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Computer Equipment </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Vehicles</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Mine Properties</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Buildings, Plant and Equipment</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:8.61678%">Construction In Progress</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%">Accumulated Depreciation</td> <td style="vertical-align:bottom;text-align:right;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%"> </td> <td style="vertical-align:bottom;text-align:right;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:right;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%"> </td> <td style="vertical-align:bottom;text-align:right;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:right;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%"> </td> <td style="vertical-align:bottom;text-align:right;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:right;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%"> </td> <td style="vertical-align:bottom;text-align:right;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:right;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.61678%"> </td> <td style="vertical-align:bottom;text-align:right;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:right;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%"> </td> <td style="vertical-align:bottom;text-align:right;width:2.04082%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%">Balance at December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">2,455</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">298</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">49,734</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">132,298</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:8.61678%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">184,785</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Depreciation</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">455</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">12</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">14,158</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">16,967</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.61678%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">31,592</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Disposals and write-offs</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(10</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(4,664</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.61678%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(4,674</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Assets held for sale (note 6)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(2,365</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(2,401</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.61678%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(4,766</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Effects of changes in foreign exchange rates</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%">(71</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%">(67</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%">(10,608</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%">(30,352</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8.61678%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%">(41,098</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%">Balance at December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">464</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">243</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">53,284</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">111,848</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8.61678%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">165,839</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Depreciation</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">113</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">12</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">11,426</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">14,852</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8.61678%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">26,403</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Disposals and write-offs</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">(126</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">(249</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">(757</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8.61678%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">(1,132</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Effects of changes in foreign exchange rates</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">35</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">33</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">5,480</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">14,197</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8.61678%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">19,745</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%;border-bottom:0.75pt solid #000000">Balance at December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">486</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">39</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">70,190</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">140,140</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8.61678%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">210,855</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%">Net Book Value</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.02041%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:7.93651%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2.04082%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.02041%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:7.93651%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2.04082%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.02041%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:7.93651%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2.04082%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.02041%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:7.93651%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2.04082%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.02041%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8.61678%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2.04082%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.02041%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:7.93651%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2.04082%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%">At December 31, 2024</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">206</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">27</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">72,680</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">84,133</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:8.61678%">13,710</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">170,756</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%;border-bottom:1.5pt solid #000000">At December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">191</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">19</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">90,131</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">95,477</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8.61678%;background-color:#ebf3f7">6,049</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">191,867</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> </tr> </table> </div> </div> Of the additions noted above, $27,530 related to the Mine Properties segment (year ended December 31, 2024 − $37,028) and $nil related to the Clean Energy segment (year ended December 31, 2024 − $34). </div>

0.9995

0.994

0.0005

0.03 0.02 0.02

<div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Computer Equipment </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Vehicles</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Mine Properties</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Buildings, Plant and Equipment</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Construction In Progress</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Cost</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Balance at December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">5,689</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">346</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">139,094</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">240,061</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">11,771</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">396,961</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Additions</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">1</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">13,666</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">10,492</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">14,429</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">38,588</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Disposals and write-offs</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(10</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(4,664</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(4,674</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Assets held for sale (note 6)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(4,894</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(5,679</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(10,573</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Reclassifications</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">9,007</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(9,007</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Effects of changes in foreign exchange rates</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(116</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(76</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(26,796</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(53,236</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(3,483</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(83,707</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Balance at December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">670</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">270</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">125,964</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">195,981</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">13,710</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">336,595</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Additions</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">77</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">21,126</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">3,347</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">2,986</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">27,536</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Disposals and write-offs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(126</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(249</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(757</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(1,132</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Reclassifications</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">12,156</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(12,156</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Effects of changes in foreign exchange rates</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">56</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">37</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">13,231</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">24,890</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">1,509</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">39,723</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;border-bottom:0.75pt solid #000000">Balance at December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">677</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">58</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">160,321</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">235,617</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">6,049</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">402,722</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> </tr> </table> </div> <div></div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;width:33.3333%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Computer Equipment </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Vehicles</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Mine Properties</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Buildings, Plant and Equipment</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:8.61678%">Construction In Progress</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%">Accumulated Depreciation</td> <td style="vertical-align:bottom;text-align:right;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%"> </td> <td style="vertical-align:bottom;text-align:right;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:right;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%"> </td> <td style="vertical-align:bottom;text-align:right;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:right;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%"> </td> <td style="vertical-align:bottom;text-align:right;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:right;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%"> </td> <td style="vertical-align:bottom;text-align:right;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:right;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.61678%"> </td> <td style="vertical-align:bottom;text-align:right;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:right;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%"> </td> <td style="vertical-align:bottom;text-align:right;width:2.04082%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%">Balance at December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">2,455</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">298</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">49,734</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">132,298</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:8.61678%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">184,785</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Depreciation</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">455</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">12</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">14,158</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">16,967</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.61678%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">31,592</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Disposals and write-offs</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(10</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(4,664</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.61678%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(4,674</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Assets held for sale (note 6)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(2,365</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(2,401</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.61678%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(4,766</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Effects of changes in foreign exchange rates</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%">(71</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%">(67</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%">(10,608</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%">(30,352</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8.61678%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%">(41,098</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%">Balance at December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">464</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">243</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">53,284</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">111,848</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8.61678%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">165,839</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Depreciation</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">113</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">12</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">11,426</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">14,852</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8.61678%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">26,403</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Disposals and write-offs</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">(126</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">(249</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">(757</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8.61678%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#ebf3f7">(1,132</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:33.3333%">Effects of changes in foreign exchange rates</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">35</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">33</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">5,480</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">14,197</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8.61678%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">19,745</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%;border-bottom:0.75pt solid #000000">Balance at December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">486</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">39</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">70,190</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">140,140</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8.61678%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">210,855</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%">Net Book Value</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.02041%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:7.93651%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2.04082%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.02041%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:7.93651%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2.04082%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.02041%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:7.93651%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2.04082%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.02041%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:7.93651%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2.04082%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.02041%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8.61678%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2.04082%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1.02041%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:7.93651%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2.04082%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%">At December 31, 2024</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">206</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">27</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">72,680</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">84,133</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:8.61678%">13,710</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">170,756</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;padding-left:4pt;vertical-align:bottom;width:33.3333%;border-bottom:1.5pt solid #000000">At December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">191</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">19</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">90,131</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">95,477</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8.61678%;background-color:#ebf3f7">6,049</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#ebf3f7">191,867</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#ebf3f7"> </td> </tr> </table> </div> </div>

5689000

346000

139094000

240061000

11771000

396961000

1000

13666000

10492000

14429000

38588000

10000

4664000

4674000

4894000

5679000

10573000

9007000

-9007000

-116000

-76000

-26796000

-53236000

-3483000

-83707000

670000

270000

125964000

195981000

13710000

336595000

77000

21126000

3347000

2986000

27536000

126000

249000

757000

1132000

12156000

-12156000

56000

37000

13231000

24890000

1509000

39723000

677000

58000

160321000

235617000

6049000

402722000

2455000

298000

49734000

132298000

184785000

455000

12000

14158000

16967000

31592000

-10000

-4664000

-4674000

-2365000

-2401000

-4766000

-71000

-67000

-10608000

-30352000

-41098000

464000

243000

53284000

111848000

165839000

113000

12000

11426000

14852000

26403000

-126000

-249000

-757000

-1132000

35000

33000

5480000

14197000

19745000

486000

39000

70190000

140140000

210855000

206000

27000

72680000

84133000

13710000

170756000

191000

19000

90131000

95477000

6049000

191867000

27530000

37028000

34000

2000

37000

38825000

28937000

500000 1045000 27508000 24421000

600000

27508000

25021000

<div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;width:100%"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:18pt">10)</td> <td style="margin-top:0pt;margin-bottom:0pt;width:auto">Accounts payable and accrued liabilities</td> </tr> </table> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2024</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;border-top:0.75pt solid #000000">Accounts payable</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">17,665</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">21,662</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Accrued liabilities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">19,553</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">6,228</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Accrued financial costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">1,561</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">2,567</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Other taxes</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">3,747</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">813</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;border-bottom:1.5pt solid #000000">Total</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">42,526</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%">31,270</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div>

19553000

6228000

1561000

2567000

3747000 813000

42526000

31270000

107066000

92280000

107015000

92229000

107066000

92280000

107015000

92229000

107066000

75000000

44355000

27075000

92280000

0.0851

19288000

0.0851

10000000

0.0875

14644000

0.0895

19525000

0.1045

9762000

0.0905

9016000

18831000

0.15

6000000

107066000

20000000

In addition to an upfront fee of 0.80%, interest accrued at a rate of 8.51% p.a. is to be paid every six months.

712000

0.0851

10000000

0.0851

0.008

0.0851

15000000

0.0875

356000

0.0875

20000000

0.0895

Interest payments are due quarterly with 50% of the principal to be repaid in October 2025 and 50% to be repaid in October 2026.

475000

0.0895

10000000

In addition to an upfront fee of 0.85%, accrued interest at a rate of 10.45% p.a. is to be paid at maturity.

237000

0.1045

8000000

Drawdowns on the facility were repayable in 90 days together with accrued interest at a rate of 8.25% p.a., with renewals subject to approval by the bank.

7813000

50000000

drawdowns repayable in 120 days together with accrued interest at a rate of 9.00% p.a.

50000000

9235000

In May 2025, the Company extended the term for a further 120 days with accrued interest at a rate of 9.05% p.a.

In September 2025, the Company extended the term for one year with accrued interest at a rate of 9.05% p.a.

10000000 10000000

Repayments include a 1% commission fee, interest at the one -month U.S. Secured Overnight Financing Rate (SOFR) plus 3.0%, and other direct costs.

35000000 25000000 10000000

The inventory financing commission is charged at 3% on the sales invoice value.

10000000 10000000

Repayments include a 1% commission fee, interest, and other direct costs.

82642000

67674000

6000000

0.657

bears interest at an annual rate of 15%, and includes a 1% arrangement fee.

<div> <table cellpadding="0" cellspacing="0" style="width:100%;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:18pt">12)</td> <td style="margin-top:0pt;margin-bottom:0pt;width:auto">Provisions</td> </tr> </table> <div> a) Provision for litigation claims By their nature, contingencies will only be confirmed by the occurrence or non-occurrence of one or more uncertain future events. The assessment of contingencies inherently involves the exercise of significant judgments and estimates of the outcome of future events. The Company, through its subsidiaries, is party to legal proceedings in the ordinary course of its operations related to legally binding agreements with various third parties under supply contracts and consulting agreements. During the year ended December 31, 2022, the Company received a ruling regarding one such proceeding in Brazil. This relates to a supply agreement for the Maracás Menchen Mine which was filed with the courts in October 2014. The ruling requires the Company to pay due amounts, plus interest and legal fees. At December 31, 2025, the Company recognized a total provision of $3,741 for legal matters (December 31, 2024 - $3,060). At December 31, 2025, the Company recognized a provision of $453 (December 31, 2024 - $453) for contract penalties expected to be paid within the next 12 months. b) Provision for environmental compensation In accordance with the terms of the Company's environmental license for its Maracás Menchen Mine, the Company recognized a provision for future social and environmental compensation. Following the direction of the Secretary of the Environment for the state of Bahia, Brazil, the Company will be required to fund social or environmental projects. At December 31, 2025, the Company recognized a provision of $351, with the full $351 expected to be paid within the next 12 months (December 31, 2024 - $312). c) Provision for closure and reclamation The following table presents the reconciliation of the beginning and ending aggregate carrying amount of the provision for closure and reclamation associated with the retirement of the Company's projects: <div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Maracás Menchen Mine</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Currais Novos Tungsten</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Balance at December 31, 2023</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">5,712</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">571</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">6,283</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Changes in estimated cash flows and discount rates</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">(3,891</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">(38</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">(3,929</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">284</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">30</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">314</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Effect of foreign exchange</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%">(967</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%">(124</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%">(1,091</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Balance at December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">1,138</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">439</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">1,577</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Changes in estimated cash flows and discount rates</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">226</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">(12</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">214</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">94</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">36</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">130</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Effect of foreign exchange</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">77</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">34</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">111</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;border-bottom:1.5pt solid #000000">Balance at December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">1,535</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">497</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">2,032</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> </table> </div> </div> The Company makes a provision for the future cost of rehabilitating mine sites and related production facilities on a discounted basis on the development of mines or installation of those facilities. The rehabilitation provision represents the present value of estimated future rehabilitation costs relating to mine sites. Assumptions, including a real discount rate of 7.19% (December 31, 2024 - 7.34%), have been made which management believes are a reasonable basis upon which to estimate the future liability. The provision for closure and reclamation of the Maracás Menchen Mine at December 31, 2025 is based on total anticipated undiscounted cash outflows of R$82,153 ($14,930) (December 31, 2024 - R$73,711 ($11,904)) and is expected to be incurred between 2056 and 2061 (December 31, 2024 - between 2056 and 2061). <div></div> The provision for closure and reclamation of the Currais Novos Tungsten project at December 31, 2025 is based on anticipated undiscounted cash outflows of approximately R$3,714 ($675) (December 31, 2024 - R$3,555 ($574)), with reclamation expected to be incurred between 2028 and 2032 (December 31, 2024 - between 2027 and 2031). </div> </div>

3741000

3060000

453000 453000 351000 351000 312000 <div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Maracás Menchen Mine</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Currais Novos Tungsten</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Balance at December 31, 2023</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">5,712</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">571</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">6,283</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Changes in estimated cash flows and discount rates</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">(3,891</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">(38</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">(3,929</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">284</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">30</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">314</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Effect of foreign exchange</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%">(967</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%">(124</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%">(1,091</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Balance at December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">1,138</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">439</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">1,577</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Changes in estimated cash flows and discount rates</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">226</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">(12</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">214</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Accretion</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">94</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">36</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">130</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Effect of foreign exchange</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">77</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">34</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">111</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;border-bottom:1.5pt solid #000000">Balance at December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">1,535</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">497</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">2,032</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> </table> </div> </div>

5712000

571000

6283000

-3891000

-38000

-3929000

284000 30000 314000

-967000

-124000

-1091000

1138000

439000

1577000

226000

-12000

214000

94000 36000 130000

77000

34000

111000

1535000

497000

2032000

0.0719

0.0734

82153000 14930000 73711000 11904000 3714000 675000 3555000 574000

<div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000"> </td> <td colspan="1" style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:center;white-space:nowrap">Year ended December 31, 2025</td> <td colspan="1" style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:center;white-space:nowrap">Year ended December 31, 2024</td> <td colspan="1" style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:center;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number of Shares</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Cost</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number of Shares</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Cost</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Balance, beginning of the year</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">64,112</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">412,988</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">64,051</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">412,295</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Exercise of restricted share units (note 14)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">381</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">204</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">61</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">693</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Share issuance</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">19,180</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">10,092</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;border-bottom:1.5pt solid #000000">Balance, end of the year</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">83,673</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">423,284</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%">64,112</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%">412,988</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div>

64112000

412988000

64051000

412295000

381000 204000 61000 693000

19180000

10092000

83673000

423284000

64112000

412988000

19180000 0.53 10092000 14262000 14262000 1.22

4918000

<div> <table cellpadding="0" cellspacing="0" style="width:100%;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:18pt"> 14) </td> <td style="margin-top:0pt;margin-bottom:0pt;width:auto">Equity reserves</td> </tr> </table> <div> During the year ended December 31, 2025, the Company recognized a net share-based payment expense related to the vesting and forfeiture of stock options and restricted stock units ("RSUs") granted to the Company's directors, officers, employees and consultants of $2,289 (year ended December 31, 2024 - $1,321). The total share-based payment amount was charged to operations. <div style="margin-left:18pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td colspan="4" style="vertical-align:bottom;text-align:center;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">RSUs</td> <td colspan="1" style="vertical-align:bottom;text-align:center;width:1%;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000"> </td> <td colspan="7" style="vertical-align:bottom;text-align:center;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Options</td> <td colspan="1" style="vertical-align:bottom;text-align:center;width:1%;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000"> </td> <td colspan="7" style="vertical-align:bottom;text-align:center;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Warrants</td> <td colspan="1" style="vertical-align:bottom;text-align:center;width:1%;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000;width:6%">Number</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000">Value</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000;width:6%">Number</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000">Weighted average exercise price</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000">Value</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000;width:6%">Number</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000">Weighted average exercise price</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000">Value</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000">Total</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">217</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">830</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">890</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">C$</td> <td style="vertical-align:bottom;text-align:right;width:7%">10.08</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">4,649</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">328</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">C$</td> <td style="vertical-align:bottom;text-align:right;width:7%">13.00</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">6,721</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000;padding-left:2pt">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">12,200</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Granted1</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">308</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">1,618</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">2.51</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">1,504</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">1,812</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">(83</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right">(693</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right">(693</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Expired</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">(32</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right">(30.40</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right">(544</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right">(544</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Forfeited</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:6%">(64</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000">(205</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:6%">(332</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000">(6.22</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000">(717</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000">(922</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">December 31, 2024</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">70</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">240</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">2,144</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">C$</td> <td style="vertical-align:bottom;text-align:right;width:7%">4.66</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">4,892</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">328</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">C$</td> <td style="vertical-align:bottom;text-align:right;width:7%">13.00</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">6,721</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000;padding-left:2pt">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">11,853</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Granted1</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;background-color:#ebf3f7">1,888</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">2,004</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;background-color:#ebf3f7">45</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">2.46</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">554</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;background-color:#ebf3f7">20,178</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">0.57</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">11,583</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">14,141</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7;width:6%">(599</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(204</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(204</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Expired</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7;width:6%">(88</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(6.70</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(299</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7;width:6%">(328</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(13.00</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(6,721</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(7,020</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Forfeited</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;background-color:#ebf3f7;width:6%">(54</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">(59</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;background-color:#ebf3f7;width:6%">(466</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">(5.07</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">(870</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">(929</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid #000000;padding-left:4pt;padding-right:4pt">December 31, 2025</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">1,305</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">1,981</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">1,635</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">C$</td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">4.25</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">4,277</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">20,178</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">C$</td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">0.57</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">11,583</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7;border-left:0.75pt solid #000000;padding-left:2pt">$</td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">17,841</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> </tr> </table> </div> </div> 1. Value is equal to grant date fair value of all outstanding grants. <div></div> a) RSUs RSUs represent a type of share-based compensation under which officers and employees of the Company are entitled to receive shares upon satisfying specified vesting conditions. The Company recognizes compensation expense on a straight-line basis over the vesting period, based on the market value of the shares at the grant date. Upon vesting, the RSUs are settled through the issuance of shares. Forfeitures are recognized as they occur. During the year ended December 31, 2025, the Company granted 508 and 1,380 RSUs (year ended December 31, 2024 - nil) at the market price of C$1.93 and C$1.99, respectively. The fair market value of the RSUs is determined based on the closing market price of the Company's stock price on the date of issue. <div> <div style="margin-left:54pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;white-space:nowrap">(in number of units)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify">Outstanding, beginning of year</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">70</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">217</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Granted</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">1,888</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">(599</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">(83</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Forfeited</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">(54</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">(64</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify">Outstanding, end of year</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%">1,305</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%">70</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <div> </div> <div></div> b) Stock options The remaining weighted average contractual life of options outstanding at December 31, 2025 was 3.2 years (December 31, 2024 - 3.8 years). <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;padding-left:5pt"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Range of prices</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number outstanding</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number exercisable</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Weighted average remaining life (years)</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Weighted average exercise price</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Weighted average grant date share price</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff;padding-left:5pt">C$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">2.46 - 5.00</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">1,255</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">868</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">3.6</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">C$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">2.51</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">C$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">2.51</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:5pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">5.01 - 10.00</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">271</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">233</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">2.1</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">6.83</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">6.83</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;padding-left:5pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">15.01 - 20.00</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">109</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">109</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">0.7</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">17.77</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">17.77</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;padding-left:5pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%">1,635</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%">1,210</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%">C$ 4.25</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> </tr> </table> </div> During the year ended December 31, 2025, the Company granted 45 stock options with a weighted average exercise price of C$2.46. The options vest over time, with one-third of a grant of 45 vesting during each period ending April 1, 2026, 2027 and 2028. The estimated weighted average grant date fair value for these grants was C$1.10 per stock option, as determined using the Black-Scholes valuation model and the following assumptions: risk free interest rate – 2.87%, expected life in years – 5, expected volatility – 66.4%, expected dividends – 0% and expected forfeiture rate – 0%. During the year ended December 31, 2024, the Company granted 1,618 stock options with a weighted average exercise price of C$2.51. The options vest over time, with one third of a grant of 1,066 vesting during each of the three-month periods ending September 30, 2025, 2026 and 2027. A grant of 552 vested immediately. c) Warrants <div> <div style="margin-left:36pt"> <table style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Number outstanding</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Number exercisable</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Grant Date</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Expiry Date</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Exercise price</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Expected volatility</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Expected life (years)</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Risk-free Interest rate</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">19,180</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">19,180</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">12/07/25</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">12/07/30</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">C$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">0.57</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">70.67%</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">5.00</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">3.63%</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">998</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">998</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">12/07/25</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">10/13/30</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">C$</td> <td style="vertical-align:bottom;text-align:right;width:8%">0.57</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">70.67%</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">5.00</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">3.63%</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff">20,178</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff">20,178</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff">C$</td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff">0.57</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> </tr> </table> </div> </div> During the year ended December 31, 2025, the Company granted 20,178 (year ended December 31, 2024 – nil) warrants attached to shares issued on a one to one basis with a weighted average exercise price of C$0.57 and expiring on December 7, 2030. The Company would receive proceeds of C$11,501 if they were exercised. The estimated weighted average grant date fair value was C$1.31 per warrant, as determined using the Black-Scholes valuation model and the following assumptions: risk free interest rate – 3.63%, expected life in years – 5, expected volatility – 70.7% and a foreign exchange rate of $1 equals C$0.72. The market price on the date of issuance was C$1.88. During the year ended December 31, 2025, 328,000 warrants expired unexercised (year ended December 31, 2024 - nil). </div> </div>

2289000

1321000

<div style="margin-left:18pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td colspan="4" style="vertical-align:bottom;text-align:center;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">RSUs</td> <td colspan="1" style="vertical-align:bottom;text-align:center;width:1%;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000"> </td> <td colspan="7" style="vertical-align:bottom;text-align:center;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Options</td> <td colspan="1" style="vertical-align:bottom;text-align:center;width:1%;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td colspan="1" style="vertical-align:bottom;text-align:center;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000"> </td> <td colspan="7" style="vertical-align:bottom;text-align:center;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Warrants</td> <td colspan="1" style="vertical-align:bottom;text-align:center;width:1%;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000;width:6%">Number</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000">Value</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000;width:6%">Number</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000">Weighted average exercise price</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000">Value</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000;width:6%">Number</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000">Weighted average exercise price</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000">Value</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap;border-bottom:0.75pt solid #000000">Total</td> <td style="vertical-align:bottom;text-align:right;width:1%;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">217</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">830</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">890</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">C$</td> <td style="vertical-align:bottom;text-align:right;width:7%">10.08</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">4,649</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">328</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">C$</td> <td style="vertical-align:bottom;text-align:right;width:7%">13.00</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">6,721</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000;padding-left:2pt">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">12,200</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Granted1</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">308</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">1,618</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">2.51</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">1,504</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">1,812</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">(83</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right">(693</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right">(693</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Expired</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">(32</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right">(30.40</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right">(544</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:7%">-</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right">(544</td> <td style="vertical-align:bottom;text-align:left;width:1%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Forfeited</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:6%">(64</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000">(205</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;width:6%">(332</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000">(6.22</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000">(717</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000">(922</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">December 31, 2024</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">70</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">240</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">2,144</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">C$</td> <td style="vertical-align:bottom;text-align:right;width:7%">4.66</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">4,892</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%">328</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">C$</td> <td style="vertical-align:bottom;text-align:right;width:7%">13.00</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">6,721</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-left:0.75pt solid #000000;padding-left:2pt">$</td> <td style="vertical-align:bottom;text-align:right;width:7%">11,853</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Granted1</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;background-color:#ebf3f7">1,888</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">2,004</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;background-color:#ebf3f7">45</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">2.46</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">554</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;background-color:#ebf3f7">20,178</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">0.57</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">11,583</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">14,141</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7;width:6%">(599</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(204</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(204</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Expired</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7;width:6%">(88</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(6.70</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(299</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7;width:6%">(328</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(13.00</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(6,721</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(7,020</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;padding-right:4pt">Forfeited</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;background-color:#ebf3f7;width:6%">(54</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">(59</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;background-color:#ebf3f7;width:6%">(466</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">(5.07</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">(870</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7;border-left:0.75pt solid #000000;padding-left:2pt"> </td> <td style="vertical-align:bottom;text-align:right;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">(929</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:0.75pt solid #000000;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid #000000;padding-left:4pt;padding-right:4pt">December 31, 2025</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">1,305</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">1,981</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">1,635</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">C$</td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">4.25</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">4,277</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7;border-left:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:6%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">20,178</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">C$</td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">0.57</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">11,583</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7;border-left:0.75pt solid #000000;padding-left:2pt">$</td> <td style="vertical-align:bottom;text-align:right;width:7%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">17,841</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> </tr> </table> </div> </div>

217000

830000

890000

10.08

4649000

328000

6721000 12200000

308000

1618000

2.51

1504000

0 1812000

83000

693000

0 693000

32000

30.4

544000

0 544000

64000

205000

332000

6.22

717000

0 922000

70000

240000

2144000

4.66

4892000

328000

6721000 11853000

1888000

2004000

45000

2.46

554000

20178000

0.57

11583000 14141000

599000

204000

0 204000

88000

6.7

299000

328000

6721000 7020000

54000

59000

466000

5.07

870000

0 929000

1305000

1981000

1635000

4.25

4277000

20178000

0.57

11583000 17841000

508000

1380000

1.93 1.99 <div> <div style="margin-left:54pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;white-space:nowrap">(in number of units)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify">Outstanding, beginning of year</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">70</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">217</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Granted</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">1,888</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">(599</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">(83</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Forfeited</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">(54</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">(64</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify">Outstanding, end of year</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%">1,305</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%">70</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div>

70000

217000

1888000

599000

83000

54000

64000

1305000

70000

P3Y2M12D

P3Y9M18D

<div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;padding-left:5pt"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Range of prices</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number outstanding</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number exercisable</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Weighted average remaining life (years)</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Weighted average exercise price</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Weighted average grant date share price</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff;padding-left:5pt">C$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">2.46 - 5.00</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">1,255</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">868</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">3.6</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">C$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">2.51</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">C$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">2.51</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:left;width:1%;padding-left:5pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">5.01 - 10.00</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">271</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">233</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">2.1</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">6.83</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">6.83</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;padding-left:5pt"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">15.01 - 20.00</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">109</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">109</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">0.7</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">17.77</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">17.77</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;padding-left:5pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%">1,635</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%">1,210</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%">C$ 4.25</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000"> </td> </tr> </table> </div>

2.46

1255000

868000

P3Y7M6D

2.51

5.01

271000

233000

P2Y1M6D

6.83

15.01

109000

P0Y8M12D

17.77

1635000

1210000

4.25

45000

2.46

The options vest over time, with one-third of a grant of 45 vesting during each period ending April 1, 2026, 2027 and 2028

1100

0.0287

0.664

1618000

2.51

The options vest over time, with one third of a grant of 1,066 vesting during each of the three-month periods ending September 30, 2025, 2026 and 2027. A grant of 552 vested immediately

<div> <div style="margin-left:36pt"> <table style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Number outstanding</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Number exercisable</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Grant Date</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Expiry Date</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Exercise price</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Expected volatility</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Expected life (years)</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Risk-free Interest rate</td> <td style="vertical-align:bottom;width:1%;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">19,180</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">19,180</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">12/07/25</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">12/07/30</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">C$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">0.57</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">70.67%</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">5.00</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">3.63%</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">998</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">998</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">12/07/25</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">10/13/30</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">C$</td> <td style="vertical-align:bottom;text-align:right;width:8%">0.57</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">70.67%</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">5.00</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">3.63%</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> </tr> <tr> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff">20,178</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff">20,178</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff">C$</td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff">0.57</td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-bottom:1.5pt solid #000000;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> </tr> </table> </div> </div>

19180000

12/07/25 12/07/30

0.57

0.7067 P5Y 0.0363

998000

12/07/25 10/13/30

0.57

0.7067 P5Y 0.0363

20178000

0.57

20178000

0.57

11501000

1.31

0.0363 P5Y 0.707

0.72

1.88

328000000

6410000

7147000

-229000

-737000

6181000

6410000

23118000 2542000

-2813000

17063000

-17867000

17063000

-20680000

0.265

<div> <div style="margin-left:36pt"> <table style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000"> </td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000"> </td> <td colspan="4" style="vertical-align:bottom;white-space:nowrap;text-align:center;border-top:1.5pt solid #000000">Year Ended</td> <td colspan="1" style="vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-bottom:0.75pt solid #000000">December 31, 2025</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-bottom:0.75pt solid #000000">December 31, 2024</td> <td style="vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom">Net loss before tax</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">(51,675</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;width:12%;text-align:right;border-bottom:0.75pt solid #000000">(71,245</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> </tr> <tr> <td style="vertical-align:bottom">Expected income tax recovery based on statutory rate</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7">13,694</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">18,880</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom">Adjustments to expected income tax (expense) recovery:</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right"> </td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:5pt">Permanent differences and other</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7">(134</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">(2,382</td> <td style="vertical-align:bottom;width:2%;text-align:left">)</td> </tr> <tr> <td style="vertical-align:bottom;padding-left:5pt">Tax effect of unrecognized temporary differences and tax losses</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7">(34,104</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">(1,690</td> <td style="vertical-align:bottom;width:2%;text-align:left">)</td> </tr> <tr> <td style="vertical-align:bottom;padding-left:5pt">Tax incentives and tax loss benefit not previously recognized</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">2,914</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:5pt">Effect of tax rates in foreign jurisdictions</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7">1,173</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:12%;text-align:right">3,331</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:5pt">Foreign exchange and other</td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">2,308</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;width:12%;text-align:right;border-bottom:0.75pt solid #000000">(373</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:0.75pt solid #000000">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000">Income tax (expense) recovery</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;width:12%;text-align:right;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">(17,063</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid #000000">$</td> <td style="vertical-align:bottom;width:12%;text-align:right;border-bottom:1.5pt solid #000000">20,680</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid #000000"> </td> </tr> </table> </div> </div>

-51675000

-71245000

-13694000

-18880000

134000

2382000

34104000

1690000

0 -2914000 -1173000 -3331000 -2308000 373000

17063000

-20680000

<div> <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Year ended </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-top:1.5pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31, 2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Net deferred income tax asset, beginning of the year</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">22,075</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">7,495</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Deferred income tax (expense) recovery</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">(17,063</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">17,867</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Effect of foreign exchange</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(3,287</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;border-bottom:1.5pt solid #000000">Net deferred income tax asset, end of the year</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">5,012</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%">22,075</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:1.5pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:1.5pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:1.5pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:1.5pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:1.5pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31, 2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:1.5pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;border-top:0.75pt solid #000000">Deferred income tax asset</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">5,012</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">22,075</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid #000000;padding-left:4pt">Net deferred income tax asset</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">5,012</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%">22,075</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div>

22075000

7495000

17063000

-17867000

3287000

5012000

22075000

5012000

22075000

5012000

22075000

<div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2024</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Brazil</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;text-indent:4.5pt">Recognized deferred tax assets:</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;text-indent:13.5pt">Non-capital losses</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">15,343</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">28,493</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;text-indent:13.5pt">Mine properties</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">1,422</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1,235</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;text-indent:4.5pt">Recognized deferred tax liabilities:</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;text-indent:13.5pt">Transitional tax regime</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">(12,099</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(6,985</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;text-indent:13.5pt">Provisions</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">(4,666</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(4,124</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">18,619</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Canada</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;text-indent:4.5pt">Recognized deferred tax assets:</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;text-indent:13.5pt">Non-capital losses</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">4,991</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">3,433</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">U.S.</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;text-indent:4.5pt">Recognized deferred tax assets:</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;text-indent:13.5pt">Non-capital losses</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">7</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">1,038</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;text-indent:13.5pt">Provisions and other</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">21</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">23</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;text-indent:4.5pt">Recognized deferred tax liabilities:</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;text-indent:13.5pt">Mine properties, plant and equipment</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">(7</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(1,038</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">21</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">23</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid #000000;padding-left:4pt">Net deferred income tax asset</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">5,012</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%">22,075</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div>

15343000

28493000

1422000

1235000

12099000

6985000

4666000

4124000

18619000

4991000

3433000

7000

1038000

21000

23000

7000

1038000

21000

23000

5012000

22075000

<div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2024</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Canada</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26.65pt;vertical-align:bottom">Non-capital loss carry-forwards</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">24,358</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">32,408</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26.65pt;vertical-align:bottom">Mine properties, plant and equipment</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">18,394</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">17,574</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26.65pt;vertical-align:bottom">Capital losses</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">12,260</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">12,260</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26.65pt;vertical-align:bottom">Vanadium assets</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">6,168</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">6,608</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26.65pt;vertical-align:bottom">ITCs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">284</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">270</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26.65pt;vertical-align:bottom">Share issue costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">520</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">214</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Ireland</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26.65pt;vertical-align:bottom">Non-capital loss carry-forwards</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">34,294</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">24,715</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26.65pt;vertical-align:bottom">Mine properties, plant and equipment</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">1</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">1</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">U.S.</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26.65pt;vertical-align:bottom">Non-capital loss carry-forwards</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">76,743</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">59,845</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26.65pt;vertical-align:bottom">Inventory</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">7,116</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26.65pt;vertical-align:bottom">Provisions and other</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">2,702</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1,180</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:26.65pt;vertical-align:bottom;border-bottom:1.5pt solid #000000">Mine properties, plant and equipment</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:12%">501</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div>

24358000

32408000

18394000

17574000

12260000

6168000

6608000

284000

270000

520000

214000

34294000

24715000

1000

76743000

59845000

7116000

2702000

1180000

501000

2370000 <div> <div> <div style="margin-left:36pt"> <table style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Expiry Date</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Amount</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Expiry Date</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Amount</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:center;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Expiry Date</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000">Amount</td> <td style="vertical-align:bottom;white-space:nowrap;text-align:right;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:8%;text-align:center">2034</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7">10,648</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:8%;text-align:center">2038</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7">11,315</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:8%;text-align:center">2042</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7">332</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> </tr> <tr> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:8%;text-align:center">2035</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7">132</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:8%;text-align:center">2039</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7">13,751</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:8%;text-align:center">2043</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7">1,261</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> </tr> <tr> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:8%;text-align:center">2036</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7">2,754</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:8%;text-align:center">2040</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7">35</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:8%;text-align:center">2044</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7">1,272</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> </tr> <tr> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:8%;text-align:center">2037</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7">3,848</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:8%;text-align:center">2041</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7">75</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left"> </td> <td style="vertical-align:bottom;width:8%;text-align:center">2045</td> <td style="vertical-align:bottom;width:2%;text-align:left"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7">701</td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> </tr> <tr> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;width:8%;text-align:center;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:8%;text-align:right;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;width:8%;text-align:center;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:8%;text-align:right;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;width:8%;text-align:center;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;width:8%;text-align:right;border-bottom:1.5pt solid #000000;background-color:#ebf3f7">46,124</td> <td style="vertical-align:bottom;width:2%;text-align:left;border-bottom:1.5pt solid #000000;background-color:#ebf3f7"> </td> </tr> </table> </div> </div> </div>

10648000

11315000

332000

132000

13751000

1261000

2754000

35000

1272000

3848000

75000

701000

46124000

1466000

2182000

607000

975000

1446000

2073000

4603000

6000000 5000000

<div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;width:18pt">19)</td> <td style="margin-top:0pt;margin-bottom:0pt;width:auto">Segmented disclosure</td> </tr> </table> The Company has six operating segments: sales & trading, mine properties, corporate, exploration and evaluation properties ("E&E properties") (included as part of inter-segment transactions & other), clean energy and Largo Physical Vanadium. Corporate includes the corporate team that provides administrative, technical, financial and other support to all the Company's business units, as well as being part of the Company's sales structure. <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Sales & trading</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Mine properties</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Corporate</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Clean Energy</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Largo Physical Vanadium</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Inter- segment transactions & other</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Year ended December 31, 2025</td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom">Revenues</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">92,421</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">87,357</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">75,824</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(145,715</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">109,887</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> </tr> <tr> <td style="vertical-align:bottom">Operating costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(77,234</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(116,206</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(72,893</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">133,693</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(132,640</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(0, 0, 0)">Professional, consulting and management fees</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(2,971</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(1,958</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(5,699</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(1,221</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(651</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(12,500</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> </tr> </table> </div> <div></div> </div> <div> <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Sales & trading</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Mine properties</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Corporate</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Clean Energy</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Largo Physical Vanadium</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Inter- segment transactions & other</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Foreign exchange (loss) gain</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(37</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">8,707</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(2</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(6</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">17</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">8,679</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Other general and administrative expenses</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(3,241</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(1,273</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(2,565</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(745</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(180</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(302</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)1</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(8,306</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Share-based payments</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(2,289</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(2,289</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Finance costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(3,291</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(9,131</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(635</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(3</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(77</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(6</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)1</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(13,143</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Interest income</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">144</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">25</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">109</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">5</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">283</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Technology start-up costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(714</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(714</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Write-down of vanadium assets</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">294</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">294</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Exploration and evaluation costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(198</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(18</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)2</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(216</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Gain on disposal of interest in subsidiary</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">5,179</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">5,179</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Share of net loss from investment in associate</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(6,189</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(6,189</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;border-bottom:0.75pt solid #000000">Total (net) expenses</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(86,630</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(120,034</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(83,974</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(3,699</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(592</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">133,367</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(161,562</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Net income (loss) before tax</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">5,791</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(32,677</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(8,150</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(3,699</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(592</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(12,348</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(51,675</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Income tax expense</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;border-bottom:0.75pt solid #000000">Deferred income tax (expense) recovery</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(2</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(18,619</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">1,558</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(17,063</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Net income (loss)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">5,789</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(51,296</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(6,592</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(3,699</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(592</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(12,348</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(68,738</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000">Revenues (after inter-segment eliminations)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">91,634</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">16,382</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">1,871</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">109,887</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> </table> </div> </div> 1. Amounts relating to Largo Titânio Ltda. and Largo Tech Ltda., which are not part of an operating segment. 2. Amount relating to E&E properties. <div style="margin-left:0pt"> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Sales & trading</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Mine properties</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Corporate</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Clean Energy</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Largo Physical Vanadium</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Inter-segment transactions & other</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Year ended December 31, 2024</td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;background-color:#e6efff">Revenues</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">99,708</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">111,978</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">92,171</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(178,937</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">124,920</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;background-color:#e6efff">Operating costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(95,462</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(142,551</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(89,002</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">181,197</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(145,818</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Professional, consulting and management fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(2,323</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(1,875</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(6,086</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(5,481</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(521</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(18</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(16,304</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;background-color:#e6efff">Foreign exchange (loss) gain</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(75</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(12,341</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(36</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(27</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(38</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(12,517</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;border-bottom:1.5pt solid #000000">Other general and administrative expenses</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">(585</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">1,069</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">(2,518</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">(2,590</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">(186</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">(619</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)1</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">(5,429</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> </tr> </table> </div> </div> <div></div> <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;width:22.5624%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Sales & trading</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Mine properties</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Corporate</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Clean Energy</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Largo Physical Vanadium</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:8.5034%">Inter-segment transactions & other</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;border-top:1.5pt solid #000000;width:22.5624%;background-color:#e6efff">Share-based payments</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(1,321</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:8.5034%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(1,321</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%">Finance costs</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(678</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(8,653</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">83</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(39</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(81</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%">(92</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)1</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(9,460</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%;background-color:#e6efff">Interest income</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">48</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">757</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">700</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">18</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">1,523</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%">Technology start-up costs</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(3,392</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(3,392</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%;background-color:#e6efff">Write-down of vanadium assets</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">(1,119</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">(1,119</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%">Exploration and evaluation costs</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(2,320</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%">(8</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)2</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(2,328</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:22.5624%;border-bottom:0.75pt solid #000000;padding-left:4pt;background-color:#e6efff">Total (net) expenses</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(99,075</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(165,914</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(98,180</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(11,529</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(1,927</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8.5034%;background-color:#e6efff">180,460</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(196,165</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:22.5624%;padding-left:4pt">Net income (loss) before tax</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">633</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">(53,936</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">(6,009</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">(11,529</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">(1,927</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8.5034%">1,523</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">(71,245</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%;background-color:#e6efff">Income tax recovery (expense)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">(101</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">2,914</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">2,813</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%">Deferred income tax recovery (expense)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">19</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">17,667</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">181</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">17,867</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:22.5624%;padding-left:4pt;background-color:#e6efff">Net income (loss)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">551</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(33,355</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(5,828</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(11,529</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(1,927</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8.5034%;background-color:#e6efff">1,523</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(50,565</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;width:22.5624%">Revenues (after inter-segment eliminations)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%">99,708</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%">24,429</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%">783</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8.5034%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%">124,920</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> </tr> </table> </div> </div> 1. Amounts relating to Largo Titânio Ltda. and Largo Tech Ltda., which are not part of an operating segment. 2. Amount relating to E&E properties. </div> </div>

<div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Sales & trading</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Mine properties</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Corporate</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Clean Energy</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Largo Physical Vanadium</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Inter- segment transactions & other</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Year ended December 31, 2025</td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom">Revenues</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">92,421</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">87,357</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">75,824</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(145,715</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">109,887</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> </tr> <tr> <td style="vertical-align:bottom">Operating costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(77,234</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(116,206</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(72,893</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">133,693</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(132,640</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:1.5pt solid rgb(0, 0, 0)">Professional, consulting and management fees</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(2,971</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(1,958</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(5,699</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(1,221</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(651</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(12,500</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> </tr> </table> </div> <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Sales & trading</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Mine properties</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Corporate</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Clean Energy</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Largo Physical Vanadium</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Inter- segment transactions & other</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Foreign exchange (loss) gain</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(37</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">8,707</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(2</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(6</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">17</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">8,679</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Other general and administrative expenses</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(3,241</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(1,273</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(2,565</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(745</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(180</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(302</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)1</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(8,306</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Share-based payments</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(2,289</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(2,289</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Finance costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(3,291</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(9,131</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(635</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(3</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(77</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(6</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)1</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(13,143</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Interest income</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">144</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">25</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">109</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">5</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">283</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Technology start-up costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(714</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(714</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Write-down of vanadium assets</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">294</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">294</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Exploration and evaluation costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(198</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">(18</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7">)2</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#ebf3f7">(216</td> <td style="vertical-align:bottom;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Gain on disposal of interest in subsidiary</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">5,179</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">5,179</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Share of net loss from investment in associate</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(6,189</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(6,189</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;border-bottom:0.75pt solid #000000">Total (net) expenses</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(86,630</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(120,034</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(83,974</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(3,699</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(592</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">133,367</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(161,562</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Net income (loss) before tax</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">5,791</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(32,677</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(8,150</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(3,699</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(592</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(12,348</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(51,675</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Income tax expense</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;border-bottom:0.75pt solid #000000">Deferred income tax (expense) recovery</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(2</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(18,619</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">1,558</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(17,063</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Net income (loss)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">5,789</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(51,296</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(6,592</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(3,699</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(592</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">(12,348</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;background-color:#ebf3f7">(68,738</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#ebf3f7">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:14.65pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000">Revenues (after inter-segment eliminations)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">91,634</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">16,382</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">1,871</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8%;background-color:#ebf3f7">109,887</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> </table> </div> </div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Sales & trading</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Mine properties</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Corporate</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Clean Energy</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Largo Physical Vanadium</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Inter-segment transactions & other</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td colspan="6" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Year ended December 31, 2024</td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;background-color:#e6efff">Revenues</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">99,708</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">111,978</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">92,171</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(178,937</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">124,920</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;background-color:#e6efff">Operating costs</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(95,462</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(142,551</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(89,002</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">181,197</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(145,818</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Professional, consulting and management fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(2,323</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(1,875</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(6,086</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(5,481</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(521</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(18</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(16,304</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;background-color:#e6efff">Foreign exchange (loss) gain</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(75</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(12,341</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(36</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(27</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(38</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(12,517</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;border-bottom:1.5pt solid #000000">Other general and administrative expenses</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">(585</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">1,069</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">(2,518</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">(2,590</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">(186</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">(619</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)1</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:right;width:8%">(5,429</td> <td style="vertical-align:bottom;border-bottom:1.5pt solid #000000;text-align:left;width:2%">)</td> </tr> </table> </div> <div> <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;width:22.5624%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Sales & trading</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Mine properties</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Corporate</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Clean Energy</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Largo Physical Vanadium</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:8.5034%">Inter-segment transactions & other</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:7.93651%">Total</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap;width:2.04082%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;border-top:1.5pt solid #000000;width:22.5624%;background-color:#e6efff">Share-based payments</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(1,321</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:8.5034%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(1,321</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%">Finance costs</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(678</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(8,653</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">83</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(39</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(81</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%">(92</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)1</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(9,460</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%;background-color:#e6efff">Interest income</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">48</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">757</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">700</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">18</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">1,523</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%">Technology start-up costs</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(3,392</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(3,392</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%;background-color:#e6efff">Write-down of vanadium assets</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">(1,119</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">(1,119</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%">Exploration and evaluation costs</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(2,320</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%">(8</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)2</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">(2,328</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:22.5624%;border-bottom:0.75pt solid #000000;padding-left:4pt;background-color:#e6efff">Total (net) expenses</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(99,075</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(165,914</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(98,180</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(11,529</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(1,927</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8.5034%;background-color:#e6efff">180,460</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(196,165</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:22.5624%;padding-left:4pt">Net income (loss) before tax</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">633</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">(53,936</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">(6,009</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">(11,529</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">(1,927</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8.5034%">1,523</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:7.93651%">(71,245</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2.04082%">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%;background-color:#e6efff">Income tax recovery (expense)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">(101</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">2,914</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%;background-color:#e6efff">2,813</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;width:22.5624%">Deferred income tax recovery (expense)</td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">19</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">17,667</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">181</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:8.5034%">-</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;text-align:left;width:1.02041%"> </td> <td style="vertical-align:bottom;text-align:right;width:7.93651%">17,867</td> <td style="vertical-align:bottom;text-align:left;width:2.04082%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:22.5624%;padding-left:4pt;background-color:#e6efff">Net income (loss)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">551</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(33,355</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(5,828</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(11,529</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(1,927</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8.5034%;background-color:#e6efff">1,523</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1.02041%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:7.93651%;background-color:#e6efff">(50,565</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2.04082%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;width:22.5624%">Revenues (after inter-segment eliminations)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%">99,708</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%">24,429</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%">783</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:8.5034%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1.02041%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:7.93651%">124,920</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2.04082%"> </td> </tr> </table> </div> </div>

92421000

87357000

75824000

-145715000

109887000

77234000

116206000

72893000

-133693000

132640000

2971000

1958000

5699000

1221000

651000

12500000

-37000

8707000

-2000

-6000

17000

8679000

3241000

1273000

2565000

745000

180000

302000

8306000

2289000

3291000

9131000

635000

3000

77000

6000

13143000

144000

25000

109000

5000

283000

0 0 0 714000 0 0 714000 0 0 0 0 -294000 0 -294000

198000

18000

216000

0 0 0 5179000 0 0 5179000

-6189000

86630000

120034000

83974000

3699000

592000

-133367000

161562000

5791000

-32677000

-8150000

-3699000

-592000

-12348000

-51675000

2000

18619000

-1558000

17063000

5789000

-51296000

-6592000

-3699000

-592000

-12348000

-68738000

91634000 16382000 1871000 0 0 0 109887000

99708000

111978000

92171000

-178937000

124920000

95462000

142551000

89002000

-181197000

145818000

2323000

1875000

6086000

5481000

521000

18000

16304000

-75000

-12341000

-36000

-27000

-38000

-12517000

585000

-1069000

2518000

2590000

186000

619000

5429000

1321000

678000

8653000

-83000

39000

81000

92000

9460000

48000

757000

700000

18000

1523000

0 0 0 3392000 0 0 3392000 0 0 0 0 1119000 0 1119000

2320000

8000

2328000

99075000

165914000

98180000

11529000

1927000

-180460000

196165000

633000

-53936000

-6009000

-11529000

-1927000

1523000

-71245000

101000

-2914000

-2813000

-19000

-17667000

-181000

-17867000

551000

-33355000

-5828000

-11529000

-1927000

1523000

-50565000

99708000 24429000 783000 0 0 0 124920000

2181000

2181000 178000 65000 52000 2445000

130355000

164818000

107066000

92280000

237421000 257098000

9716000

22106000

382000

530000

3743000 5499000 42526000 31270000

107066000

92280000

3412000

1934000

0 0

<div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-top:1.5pt solid #000000;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Less than 6 months </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">6 months to 1 year</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">1 to 3 years</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Over 3 years</td> <td style="vertical-align:bottom;border-top:1.5pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom;border-top:0.75pt solid #000000">Accounts payable and accrued liabilities (note 10)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">42,526</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Debt (note 11)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">24,831</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">82,235</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Commitments (note 20)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">3,939</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">519</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">21</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt;border-bottom:1.5pt solid #000000">Total</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">71,296</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">82,754</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">21</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:10%;background-color:#ebf3f7">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> </tr> </table> </div>

42526000 0 0 0

24831000

82235000

3939000

519000

21000

71296000

82754000

21000

9716000

22106000

18831000

0.07003

0.0745

1236000

0.0617

0.92 0.08 0.90 0.10 66000 74000 50000 133000 429000 440000 3661000 3750000

two customers more than 10% of revenues

18716000

12443000

two customers more than 10% of revenues

12360000

2100 2100 1200 13638000

13638000 12804000 780

8875000

8875000 7183000 <div style="margin-left:18pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:1.5pt solid #000000"> </td> <td colspan="1" style="border-top:1.5pt solid #000000;text-align:center;vertical-align:bottom;white-space:nowrap"> </td> <td colspan="4" style="border-top:1.5pt solid #000000;text-align:center;vertical-align:bottom;white-space:nowrap">Year ended</td> <td colspan="1" style="border-top:1.5pt solid #000000;text-align:center;vertical-align:bottom;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">V2O5 revenues</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Produced products</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">37,835</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">57,446</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Purchased products</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">13</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">988</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">37,848</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;border-bottom:0.75pt solid #000000">58,434</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">V2O3 revenues</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Produced products</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">4,134</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">8,353</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000">4,134</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;border-bottom:0.75pt solid #000000">8,353</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">FeV revenues</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;background-color:#ebf3f7"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:12%;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Produced products</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">59,233</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:12%">46,890</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:2.65pt;padding-left:8.65pt;vertical-align:bottom">Purchased products</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">4,582</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">4,872</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">63,815</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">51,762</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Vanadium sales from contracts with customers</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">105,797</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">118,549</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:4pt">Ilmenite sales from contracts with customers</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#ebf3f7">4,090</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">6,371</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:1.5pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%;background-color:#ebf3f7">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%;background-color:#ebf3f7">109,887</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%;background-color:#ebf3f7"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:right;width:12%">124,920</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:1.5pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> 37835000 57446000 13000 988000

37848000

58434000

4134000 8353000

4134000

8353000

59233000 46890000 4582000 4872000

63815000

51762000

105797000 118549000 4090000 6371000

109887000

124920000

13011000

9109000

2000

37000

130000 314000

13143000

9460000

52559000

68478000

13762000 8240000 4580000 4996000

5096000

7052000

7305000

7418000

20412000 14135000

21107000

26795000

7819000 8192000 0 512000

132640000

145818000

5655000

8372000

2289000

1321000

7944000

9693000

21995000

28675000

60000000

13631

19510000

1.48 6000000 0.01 10000000 6100000

0.50

0.374

0.50 0.50