| SUPPLEMENTAL CASH FLOW INFORMATION |
SUPPLEMENTAL CASH FLOW INFORMATION The following table summarizes the changes in operating assets and liabilities:
| | | | | | | | | | | | | | | | Three months ended
June 30, | Six months ended
June 30, | | 2026 | 2025 | 2026 | 2025 | | Receivables | $ | 1,722 | | $ | (2,313) | | $ | (4,911) | | $ | (1,369) | | | | | | | | Prepaids and deposits | (2,609) | | (1,341) | | (1,188) | | (1,707) | | | Inventory | (9,621) | | 2,152 | | (5,790) | | (6,412) | | | Accounts payable and accrued liabilities | (12,849) | | (1,627) | | (9,191) | | (3,472) | | | Income taxes payable | 3,744 | | — | | 3,744 | | — | | | Accrued interest payable | 2,725 | | — | | (22,732) | | — | | | Deferred revenue | — | | 7,103 | | — | | 7,103 | | | Net change in operating assets and liabilities | $ | (16,888) | | $ | 3,974 | | $ | (40,068) | | $ | (5,857) | |
The following table summarizes non-cash items included in other expense:
| | | | | | | | | | | | | | | | Three months ended
June 30, | Six months ended
June 30, | | 2026 | 2025 | 2026 | 2025 | Loss on fair value measurement of Silver Purchase Agreement derivative | $ | (9,290) | | $ | (1,986) | | $ | (36,092) | | $ | (9,461) | | Gain on fair value measurement of 2026 Gold Prepay derivative | 22,000 | | — | | 29,893 | | — | | Loss on fair value measurement of NSR Royalty | (24,039) | | — | | (31,663) | | — | | | Gain (loss) on fair value measurement of Convertible Loans derivative | — | | 765 | | (3,463) | | (673) | | Loss on fair value measurement of Orion Gold Prepay derivative | — | | (2,412) | | (3,377) | | (10,674) | | | Loss on offtake liability | (4,800) | | $ | — | | (4,800) | | — | | | Gain on fair value measurement of warrant liability | 4,766 | | $ | 709 | | 5,169 | | 275 | | Other | — | | (12) | | 1 | | 33 | | Non-cash items included in other expense | $ | (11,363) | | $ | (2,936) | | $ | (44,332) | | $ | (20,500) | |
Other cash flow information:
| | | | | | | | | | | | | | | | Three months ended
June 30, | Six months ended
June 30, | | 2026 | 2025 | 2026 | 2025 | Non-cash investing and financing activities: | | | | | | Capital expenditures, not yet paid | $ | 7,294 | | $ | 869 | | $ | 10,132 | | $ | 869 | | | Shares issued in relation to 2023 Convertible Debentures interest | $ | — | | $ | — | | $ | 13,384 | | $ | — | | | Shares issued in relation to Orion Convertible Loan repayment | $ | — | | $ | — | | $ | 5,250 | | $ | — | | | Shares issued in relation to Offtake settlement | $ | 4,800 | | $ | — | | $ | 4,800 | | $ | — | | Other cash flow information: | | | | | | Interest paid - Orion Convertible Loan | $ | — | | $ | — | | $ | 20,403 | | $ | — | | | Interest paid - 2023 Convertible Debentures | $ | — | | $ | — | | $ | 5,295 | | $ | — | |
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