v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
OPERATING ACTIVITIES:    
Net loss $ (48,627) $ (8,205)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation (Note 6) 1,755 1,216
Depreciation 115 31
Environmental and reclamation expense (Note 7) 10  
Unrealized foreign exchange (gain) loss (6)  
Changes in:    
Receivables (1,127) (71)
Prepaid expenses 755 (61)
Deposits - current (Note 9) 1,202 (18,755)
Trade and other payables 18,887 201
Net cash used in operating activities (27,036) (25,644)
INVESTING ACTIVITIES:    
Purchase of buildings and equipment (19,355)  
Net cash provided by (used in) investing activities (19,355)  
FINANCING ACTIVITIES:    
Proceeds from exercise of share purchase options (Note 6) 1,746 680
Payment of finance lease (Note 5) (27)  
Net cash provided by financing activities 1,719 680
Effect of foreign exchange on cash, cash equivalents, and restricted cash equivalents 6  
Net increase (decrease) in cash, cash equivalents, and restricted cash equivalents (44,666) (24,964)
Cash, cash equivalents, and restricted cash equivalents, beginning of period 773,721 47,105
Cash, cash equivalents, and restricted cash equivalents, end of period 729,055 22,141
NON-CASH INVESTING AND FINANCING ACTIVITIES    
Right-of-use assets obtained in exchange for new operating lease liabilities 3,172  
Right-of-use assets obtained in exchange for new finance lease liabilities 232  
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH EQUIVALENTS    
Cash and cash equivalents 669,505 19,141
Restricted cash equivalents 59,550 3,000
Total cash, cash equivalents, and restricted cash equivalents $ 729,055 $ 22,141