Shareholders' Equity (Tables)
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3 Months Ended |
Mar. 31, 2026 |
| Schedule of share-based compensation recognized in the consolidated statement of operations |
| | | | | | | | | Three months ended March 31, | In thousands of U.S. Dollars | | 2026 | | 2025 | Exploration and pre-development | | $ | 749 | | $ | 543 | General and administration | | | 1,006 | | | 673 | Total | | $ | 1,755 | | $ | 1,216 |
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| Summary of share purchase option activity within the Company's share-based compensation plan |
| | | | | | | | Number of | | Weighted Average | | | Options | | Exercise Price (C$) | Balance December 31, 2024 | | 695,500 | | $ | 10.88 | Options expired | | (11,000) | | | 6.20 | Options exercised | | (396,500) | | | 11.22 | Balance December 31, 2025 | | 288,000 | | $ | 10.59 | Options expired | | (20,000) | | | 11.80 | Options exercised | | (223,000) | | | 10.78 | Options cancelled or forfeited | | (45,000) | | | 9.13 | Balance March 31, 2026 | | — | | $ | — |
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| Schedule of activity for RSUs awarded |
| | | | | | | | | | Weighted Average | | | Share | | Grant Date | | | Units | | Fair Value | Unvested, December 31, 2024 | | 871,728 | | $ | 3.28 | Granted | | 266,564 | | | 9.42 | Distributed (vested) | | (470,091) | | | 3.58 | Cancelled | | (121,587) | | | 4.68 | Unvested, December 31, 2025 | | 546,614 | | $ | 5.70 | Granted | | 132,287 | | | 30.52 | Distributed (vested) | | (178,627) | | | 4.10 | Cancelled | | (1,844) | | | 9.78 | Unvested, March 31, 2026 | | 498,430 | | $ | 12.85 |
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| Schedule of restricted share units expected to vest |
| | | Remainder of 2026 | | 153,208 | 2027 | | 195,185 | 2028 | | 106,058 | 2029 | | 43,979 | Total | | 498,430 |
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| Schedule of activity for performance share units |
| | | | | | | | | | Weighted Average | | | Share | | Grant Date | | | Units | | Fair Value | Unvested, December 31, 2024 | | 1,057,443 | | $ | 5.61 | Granted | | 193,481 | | | 13.56 | Added by performance factor | | 246,318 | | | 6.99 | Distributed | | (687,081) | | | (6.40) | Cancelled | | (177,269) | | | (6.97) | Unvested, December 31, 2025 | | 632,892 | | $ | 7.34 | Granted | | 123,852 | | | 50.70 | Added by performance factor | | 130,788 | | | 5.98 | Distributed | | (424,034) | | | 6.13 | Cancelled | | (769) | | | 13.64 | Unvested, March 31, 2026 | | 462,729 | | $ | 19.66 |
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| Schedule of performance share units expected to vest |
| | | Remainder of 2026 | | 58,500 | 2027 | | 152,761 | 2028 | | 115,730 | 2029 | | 135,738 | Total | | 462,729 |
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| Schedule of activity in DSUs awarded |
| | | | | | | | | | Weighted Average | | | Share | | Grant Date | | | Units | | Fair Value | Outstanding, December 31, 2024 | | 341,681 | | $ | 3.79 | Granted | | 36,360 | | | 11.24 | Distributed | | (30,783) | | | 3.46 | Outstanding, December 31, 2025 | | 347,258 | | $ | 4.60 | Granted | | 20,832 | | | 29.74 | Distributed | | — | | | — | Outstanding, March 31, 2026 | | 368,090 | | $ | 6.02 |
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| MPSU's |
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| Schedule of assumptions to value options and performance shares |
| | | | | | | | | | 2026 | | 2025 | | Grant date fair value | | $ | 50.70 | | $ | 12.53 | | Risk-free interest rate | | | 3.52 | % | | 4.15 | % | Expected term (in years) | | | 3.0 | | | 3.0 | | Expected share price volatility | | | 58.55 | % | | 55.16 | % | Expected dividend yield | | | Nil | | | Nil | |
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