v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (16,781) $ (301)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation expense 23 1
Loss on foreign currency transaction 4 0
Stock-based compensation 797 0
Provision for labor claims 2 7
Allocated expenses from parent 0 32
Change in fair value of warrants 8,646 0
Change in fair value of SAFE 3,409 0
Noncash Lease Expense 3 0
Changes in operating assets and liabilities:    
Prepaid expenses (152) 0
Other assets (27) (3)
Accounts payable (356) (1)
Accrued expenses (110) 0
Accounts payable to related parties 103 398
Other liabilities 13 (21)
Net cash (used in) provided by operating activities (4,426) 112
Cash flows from investing activities:    
Purchases of property and equipment (157) 0
Investment in mineral interests (52) 0
Net cash used in investing activities (209) 0
Cash flows from financing activities:    
Payments of deferred offering costs (1,138) (100)
SAFE proceeds 3,365 0
Net cash provided by (used in) financing activities 2,227 (100)
Effect of exchange rates on cash and cash equivalents (78) (15)
Net decrease in cash and cash equivalents (2,486) (3)
Cash and cash equivalents at beginning of period 22,841 6
Cash and cash equivalents at end of period 20,355 3
Supplemental non-cash information:    
Non-cash contribution from REA Australia $ 0 $ 32