Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2026

Summary of Significant Accounting Policies

Schedule of single segment's significant expenses in consistent with Company's consolidated statement of operations and comprehensive loss


		Three Months Ended				Six Months Ended
		June 30,				June 30,
Single Reportable Segment		2026		2025		2026		2025

U₃O₈ sales		14,373		10,428		18,277		10,428
Disposal fees		—		7		27		7
Sales		14,373		10,435		18,304		10,435

U₃O₈ product costs		12,325		8,397		15,012		8,397
Lower of cost or NRV adjustments		154		98		154		2,696
Cost of sales		12,479		8,495		15,166		11,093

Gross profit (loss)		1,894		1,940		3,138		(658)

Exploration and evaluation		1,191		1,161		3,470		2,205
Development		15,940		14,062		30,886		23,805
General and administration		2,711		2,199		6,634		4,372
Accretion of asset retirement obligations		488		281		917		558
Operating costs		20,330		17,703		41,907		30,940

Operating profit (loss)		(18,436)		(15,763)		(38,769)		(31,598)

Interest income		1,029		701		1,794		1,568
Interest expense		(2,760)		(290)		(5,706)		(556)
Mark to market gain (loss)		4,797		(5,622)		(1,566)		(1,312)
Foreign exchange gain (loss)		(1,357)		(24)		(1,996)		(24)
Other income (loss)		35		42		776		68
Net income (loss)		(16,692)		(20,956)		(45,467)		(31,854)

Schedule of financial assets and liabilities measured at fair value on recurring basis


		Fair Value Hierarchy as of June 30, 2026								Fair Value Hierarchy as of December 31, 2025
		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total

Financial instrument assets
Cash equivalents		84,078		—		—		84,078		2,938		—		—		2,938
Marketable securities		342		—		—		342		—		—		—		—
Restricted cash equivalents		12,904		—		—		12,904		11,472		—		—		11,472
Capped call derivative		—		13,865		—		13,865		—		15,108		—		15,108
		97,324		13,865		—		111,189		14,410		15,108		—		29,518

Financial instrument liabilities
Inventory derivative obligation (net)		—		17,500		—		17,500		—		16,638		—		16,638
Warrant liability		—		—		—		—		—		1,541		—		1,541
Stock option liabilities		—		1,447		—		1,447		—		1,346		—		1,346
Conversion option derivative		—		—		48,618		48,618		—		—		52,258		52,258
		—		18,947		48,618		67,565		—		19,525		52,258		71,783