v3.26.1
Shareholders' Equity (Tables)
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

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

 

$

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

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

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

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

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

MPSU's  
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