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| Leases | 5.Leases
We have entered into various lease agreements, primarily for equipment at our operations, which we have determined to be finance leases. At March 31, 2026, the total liability associated with the finance leases was $0.4 million (December 31, 2025: $0.2 million), with $0.1 million (December 31, 2025: $0.1 million) of the liability classified as current and $0.3 million (December 31, 2025: $0.1 million) classified as non-current. The assets related to these finance leases are recorded in Buildings and Equipment, net, on our consolidated balance sheets and totaled $0.4 million as of March 31, 2026 (December 31, 2025: $0.2 million), net of accumulated depreciation. Expense through March 31, 2026 and March 31, 2025 related to finance leases included $0.02 million and $nil respectively, for amortization of the related assets, and $0.01 million and $nil, respectively, for interest expense. Our finance leases as of March 31, 2026, had a weighted average remaining term of 3.4 years and a weighted average discount rate of 7.0%. At March 31, 2026, the annual maturities of finance lease commitments, including interest, were (in thousands of U.S. Dollars):
We have entered into various lease agreements, primarily for our corporate offices and land at our operations, which we have determined to be operating leases. As of March 31, 2026, the total liability balance associated with the operating leases was $3.1 million (December 31, 2025: $0.03 million), with $0.7 million (December 31, 2025: $0.03 million) of the liability classified as current and $2.4 million (December 31, 2025: $nil) classified as non-current. The right-of-use assets for our operating leases totaled $3.1 million as of March 31, 2026 (December 31, 2025: $0.03 million). Through March 31, 2026 and 2025, operating lease expense, and cash paid for operating leases included in net cash provided by operating activities, totaled $0.08 million and $0.02 million, respectively. Our operating leases as of March 31, 2026 had a weighted-average remaining term of 4.16 years and a weighted average discount rate of 8.5%. At March 31, 2026, the annual maturities of undiscounted operating lease payments, were (in thousands of U.S. Dollars):
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