SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2026

SEGMENT REPORTING

Schedule of segment assets


		March 31,			December 31,
(thousands of dollars)		2026			2025
Assets:
Battery-grade graphite business segment assets		$	146,708		$	145,561
Corporate and other assets			42,426			48,972
Consolidated total assets		$	189,134		$	194,533

Schedule of segment profit or loss and significant segment expenses


		March 31, 2026
(thousands of dollars)		Battery-grade Graphite Segment			Corporate and Other			Consolidated Statements of Operations
Other expense, net		$	(8)		$	(74)		$	(82)
Less:
Product development expenses			550			—			550
Exploration expenses			312			—			312
General and administrative expenses			1,018			2,523			3,541
Depreciation and amortization			189			1			190
Net loss		$	(2,077)		$	(2,598)		$	(4,675)

		March 31, 2025
(thousands of dollars)		Battery-grade Graphite Segment			Corporate and Other			Consolidated Statements of Operations
Other (expense) income, net		$	(84)		$	43		$	(41)
Less:
Product development expenses			182			—			182
Exploration expenses			7			—			7
General and administrative expenses			476			1,818			2,294
Depreciation and amortization			151			1			152
Net loss		$	(900)		$	(1,776)		$	(2,676)