v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Profit before tax $ 108,507 $ 14,495 $ 8,881
Adjustments:      
Unrealized exchange losses /(gains) 118 (575) (1,195)
Other income (decrease in rehabilitation provision) (307)
Impairment 240 5,724
Depreciation and amortization 7,267 4,141 2,705
Interest income (16) (14) (114)
Finance cost 1,952 1,522 2,415
Expected credit loss on trade and other receivables 23 13 1,283
Expected credit loss on related party receivables 1,426 6,818
Loss on disposal of assets 428 269 47
Prepayment write down 74
Remeasurement gain on financial guarantee (2,746) (486)
Share-based payments 236 2,834
Provision for stock obsolescence 22 166 41
Bad debts written off 83
Listing expense 65,381
Fair value gain on derivative liability (warrants) (5,725)
Fair value gain on earnout liability (158,822)
Non-cash penalties levied on outstanding tax liabilities 238 42
Other 15
Changes in:      
Inventories (745) (1,055) (759)
Trade and other receivables, net (4,525) (5,178) (3,911)
Trade and other payables 10,922 6,980 4,762
Prepayments 125 447 (220)
Related party balance (353) (1,118) (3,448)
Cash generated from operations 25,040 27,414 16,876
Interest expense paid (858) (533) (1,019)
Taxes paid (10,391) (7,750) (936)
Net cash provided by operating activities 13,791 19,131 14,921
Cash flows from investing activities      
Purchase of property, plant and equipment (PP&E) (11,260) (7,701) (6,205)
Investments in exploration and evaluation assets (439) (303) (188)
Prepayments made towards PP&E (655) (1,989) (149)
Proceeds received on settlement of loan notes 1,156
Staff loans advanced (38) (72) (265)
Repayment of staff loans advanced 26
Net cash used in investing activities (12,392) (10,065) (5,625)
Cash flow from financing activities      
Proceeds from borrowings 3,002 2,567 4,061
Proceeds from bank overdraft 1,006
Repayment of borrowings (3,213) (3,200) (5,206)
Dividends paid (9,018) (7,921)
Net cash generated by/(used in) financing activities 795 (9,651) (9,066)
Total cash movement for the year 2,194 (585) 230
Effect of exchange rate fluctuation 8 (8) (11)
Cash and cash equivalents at the beginning of year (315) 278 59
Cash and cash equivalents, net at the end of year $ 1,887 $ (315) $ 278