v3.26.1
Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income (loss) $ (45,467) $ (31,854)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 1,205 545
Net realizable value adjustments 154 2,696
Amortization of mineral properties 2,144 542
Depreciation of capital assets 2,125 1,692
Accretion of asset retirement obligations 917 558
Amortization of debt discount 3,200  
Provision for reclamation (48)  
Mark to market loss (gain) 1,566 1,312
Loss (gain) on sale of assets (691) 19
Unrealized foreign exchange gain 1,992 27
Changes in non-cash working capital:    
Trade receivables   16,504
Inventory 1,530 (2,849)
Lease receivables 282 263
Prepaid expenses and other current assets (650) (202)
Accounts payable and accrued liabilities 3,246 1,451
Net cash provided by (used in) operating activities (28,495) (9,296)
Investing activities    
Investment in marketable securities (44)  
Proceeds from sale of capital assets 138  
Purchase of capital assets (27,404) (8,892)
Net cash provided by (used in) investing activities (27,310) (8,892)
Financing activities    
Convertible notes financing costs (271)  
Proceeds from exercise of warrants and stock options 29,203 205
RSU redeemed for cash (35) (60)
Payments on financing lease liability (260) (230)
Net cash provided by (used in) financing activities 28,637 (85)
Effects of foreign exchange rate changes on cash 44 54
Increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents (27,124) (18,219)
Beginning cash and cash equivalents, and restricted cash and cash equivalents 135,347 87,078
Ending cash and cash equivalents, and restricted cash and cash equivalents $ 108,223 $ 68,859