v3.26.1
Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income (loss) $ 56,046 $ (63,113)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Depreciation and amortization 1,067 1,362
Share-based compensation 5,735 6,348
Unrealized foreign exchange (gain) loss (762) 225
Interest expense 2,884 3,485
Share of loss of equity method investees 8,201 7,247
Reversal of provision for expected credit loss (5,000) 0
Impairment 0 2,555
Other (571) (43)
Changes in other operating assets and liabilities:    
Accounts receivable (714) 622
Accounts payable and accrued liabilities 6,860 (1,008)
Deferred exploration liability (1,376) (1,897)
Other operating assets and liabilities (1,922) (1,252)
Net cash used in operating activities (62,275) (45,469)
Investing activities    
Proceeds from sale of a subsidiary 5,000 9,696
Deposits paid for property, plant and equipment (20,869) 0
Purchase of exploration properties (3,138) (731)
Purchase of property, plant and equipment (824) (1,258)
Investment in significant influence investee (6,250) 0
Purchase of other non-current assets (1,300) 0
Net cash provided by investing activities 98,923 7,707
Financing activities    
Proceeds from exercise of warrants 81,514 0
Distribution to non-controlling shareholders of subsidiary (40,083) 0
Proceeds from exercise of stock options 6,060 271
Net proceeds from public offering 0 65,842
Proceeds from related party loan 2,500 5,000
Repayment of related party loan 0 (10,505)
Debt issuance costs (4,585) 0
Non-controlling interests investment in subsidiary 740 20,163
Other 0 145
Net cash provided by financing activities 46,146 80,916
Effect of foreign exchange rate changes on cash and cash equivalents (640) 827
Increase in cash and cash equivalents and restricted cash 82,154 43,981
Cash, cash equivalents and restricted cash, beginning of the period 176,273 45,309
Cash, cash equivalents and restricted cash, end of the period 258,427 89,290
Restricted cash, end of the period 1,549 1,240
Cash and cash equivalents, end of the period 256,878 88,050
Supplemental cash flow information    
Cash paid for income taxes 12,195 29
Supplemental disclosure of non-cash financing activities    
Issuance of common stock 4,340 0
Alacrán    
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Gain on divestment (124,723) 0
Investing activities    
Proceeds from divestiture 124,804 0
Pinaya    
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Gain on divestment (8,000) 0
Investing activities    
Proceeds from divestiture $ 1,500 $ 0