v3.26.1
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Long - Lived Assets and Geographic Region

The following table summarizes the Company's long-lived assets, which includes mineral interests by geographic region as of June 30, 2026 and December 31, 2025:

 

June 30, 2026

 

 

December 31, 2025

 

United States

 

$

24,082

 

 

$

23,688

 

Brazil

 

 

78

 

 

 

29

 

Total Long-lived assets

 

$

24,160

 

 

$

23,717

 
Schedule of Segment Expense and Reconciled to Net Loss Before Taxes

Significant segment expense included in the measure of segment profit or loss are shown below and reconciled to net loss before taxes for the three and six months ended June 30, 2026 and 2025:

For the three months ended June 30, 2026

 

United States Mining Operations

 

 

Brazil Mining Operations

 

 

Total

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Exploration expenses

 

$

3,751

 

 

$

815

 

 

$

4,566

 

General and administrative expenses

 

 

16

 

 

 

211

 

 

 

227

 

Depreciation expense

 

 

32

 

 

 

4

 

 

 

36

 

Segment operating loss

 

$

(3,799

)

 

$

(1,030

)

 

$

(4,829

)

Corporate and other expenses

 

 

 

 

 

 

 

 

7,947

 

Interest income

 

 

 

 

 

 

 

 

503

 

Interest expense

 

 

 

 

 

 

 

 

29

 

Foreign exchange gain

 

 

 

 

 

 

 

 

1

 

Change in fair value of SAFE

 

 

 

 

 

 

 

 

(1,216

)

Change in fair value of warrants

 

 

 

 

 

 

 

 

727

 

Loss before income taxes

 

 

 

 

 

 

 

$

(12,790

)

 

For the six months ended June 30, 2026

 

United States Mining Operations

 

 

Brazil Mining Operations

 

 

Total

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Exploration expenses

 

$

5,616

 

 

$

1,015

 

 

$

6,631

 

General and administrative expenses

 

 

29

 

 

 

534

 

 

 

563

 

Depreciation expense

 

 

54

 

 

 

5

 

 

 

59

 

Segment operating loss

 

$

(5,699

)

 

$

(1,554

)

 

$

(7,253

)

Corporate and other expenses

 

 

 

 

 

 

 

 

10,327

 

Interest income

 

 

 

 

 

 

 

 

630

 

Interest expense

 

 

 

 

 

 

 

 

74

 

Foreign exchange loss

 

 

 

 

 

 

 

 

3

 

Change in fair value of SAFE

 

 

 

 

 

 

 

 

(4,625

)

Change in fair value of warrants

 

 

 

 

 

 

 

 

(7,919

)

Loss before income taxes

 

 

 

 

 

 

 

$

(29,571

)

 

For the three months ended June 30, 2025

 

United States Mining Operations

 

 

Brazil Mining Operations

 

 

Total

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Exploration expenses

 

$

—

 

 

$

115

 

 

$

115

 

General and administrative expenses

 

 

—

 

 

 

90

 

 

 

90

 

Depreciation expense

 

 

—

 

 

 

2

 

 

 

2

 

Segment operating loss

 

$

—

 

 

$

(207

)

 

$

(207

)

Corporate and other expenses

 

 

 

 

 

 

 

 

179

 

Transaction costs

 

 

 

 

 

 

 

 

157

 

Interest expense

 

 

 

 

 

 

 

 

58

 

Loss before income taxes

 

 

 

 

 

 

 

$

(601

)

 

For the six months ended June 30, 2025

 

United States Mining Operations

 

 

Brazil Mining Operations

 

 

Total

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Exploration expenses

 

$

—

 

 

$

165

 

 

$

165

 

General and administrative expenses

 

 

—

 

 

 

202

 

 

 

202

 

Depreciation expense

 

 

—

 

 

 

3

 

 

 

3

 

Segment operating loss

 

$

—

 

 

$

(370

)

 

$

(370

)

Corporate and other expenses

 

 

 

 

 

 

 

 

316

 

Transaction costs

 

 

 

 

 

 

 

 

157

 

Interest expense

 

 

 

 

 

 

 

 

59

 

Loss before income taxes

 

 

 

 

 

 

 

$

(902

)