v3.26.1
OTHER LIABILITIES (Tables)
6 Months Ended
Jun. 30, 2026
Other Liabilities Disclosure [Abstract]  
Schedule of Other Liabilities
June 30, 2026December 31, 2025
NSR Royalty$256,035 $— 
Silver Purchase Agreement embedded derivative57,669 20,380 
Warrant liability
18,948 24,117 
Share-based payment liability
9,223 6,959 
Lease liability3,304 4,735 
Orion Gold Prepay embedded derivative 9,278 
Conversion and change of controls rights 1,358 
Total other liabilities$345,179 $66,827 
Less current portion7,960 18,373 
Long-term portion$337,219 $48,454 
Schedule of Warrant Liability
Issue dateExpiry date
Exercise price (C$)
Number of warrantsJune 30, 2026December 31, 2025
Brokered placement5/1/20245/1/20282.1534,847,025$13,487 $18,052 
Orion warrants9/20/20239/20/20263.173,750,00045 417 
Orion warrants1/24/20241/24/20282.72500,000187 361 
Orion warrants1/15/20251/15/20291.015,000,0005,229 5,287 
Total warrant liability$18,948 $24,117 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The fair value of the warrants, excluding warrants issued in connection with the May 2024 brokered placement, were calculated using the Black-Scholes option pricing model with the following assumptions:

June 30, 2026December 31, 2025
Risk-free rate
2.3% to 2.8%
2.3% to 2.7%
Expected volatility
57% to 98%
64% to 104%