v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating activities:    
Net loss $ (29,972,254) $ (11,085,202)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 713,569 271,097
Stock-based compensation 4,254,752 188,900
Reclamation obligation accretion 58,974 55,375
Convertible notes discount amortization 0 914,889
Changes in operating assets and liabilities:    
Prepaid expenses 403,406 61,338
Materials and supplies inventory (189,971) (182,131)
Metals inventory 0 39,799
Other current assets (686,976) 1,631
Accounts payable 2,609,476 452,669
Accrued liabilities 1,092 396,758
Accrued interest 0 1,688,312
Net cash used in operating activities (22,807,932) (7,196,565)
Cash Flows from Investing activities:    
Additions to property, plant and equipment (9,453,812) (3,518,182)
Additions to intangible assets 0 (750,000)
Net cash used in investing activities (9,453,812) (4,268,182)
Cash Flows from Financing activities    
Gross proceeds received from initial public offering 310,500,000 0
Costs of initial public offering (20,040,315) 0
Payments of note payable for insurance premium financing (451,609) (271,469)
Proceeds from notes payable 0 17,600,000
Net cash provided by financing activities 290,008,076 17,328,531
Increase in Cash and cash equivalents and Restricted cash 257,746,332 5,863,784
Cash and cash equivalents and Restricted cash, beginning 31,251,030 2,242,885
Cash and cash equivalents and Restricted cash, ending 288,997,362 8,106,669
Supplemental Cash Flow Information:    
Interest paid 16,622 11,507
Unpaid offering costs $ 3,699,115 $ 0