v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (9,518,603) $ (6,623,460)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Stock-based compensation 2,334,377 1,291,705
Depreciation expense 79,514 67,363
Accretion expense 167,761 0
Non-cash portion for lease expense 111,860 24,360
Equity earnings from investment in Peak Gold, LLC (22,047,618) (49,646,218)
Cash distribution from Peak Gold, LLC 18,000,000 54,000,000
Amortization of flow through liability (1,707,476) 0
Loss from derivative contracts 8,717,397 53,320,459
Cash paid to settle derivative contracts (50,895,505) (10,738,049)
Unrealized (gain)/loss from marketable securities 192,270 (6,654,375)
Interest expense paid in stock 199,990 199,983
Amortization of debt discount and debt issuance fees 256,082 1,573,864
Drawdown of silver royalty (488,045) (244,527)
Deferred tax (benefit)/expense (394,255) 171,230
Changes in operating assets and liabilities, net of acquisition:    
Increase in prepaid expenses and other (355,922) 281,689
Increase in inventory 0 (803,825)
(Decrease)/increase in accounts payable and accrued liabilities 5,015,032 716,189
Net cash (used in)/provided by operating activities (50,333,141) 36,936,388
CASH FLOWS FROM INVESTING ACTIVITIES:    
Transaction costs paid as part of the Dolly Varden acquisition (7,171,739) 0
Cash acquired as part of the Dolly Varden acquisition 36,022,607 0
Cash consideration paid for Avidian Alaska Acquisition 0 (150,000)
Acquisition of property and equipment (8,416,645) (9,870)
Net cash provided by/(used in) investing activities 20,434,223 (159,870)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash proceeds from the exercise of pre-funded warrants 8,500 0
Cash proceeds from the exercise of options 1,270,283 0
Principal repayments on debt (2,000,000) (22,000,000)
Cash proceeds from common stock and warrant issuance, net 55,554,266 2,127,029
Shares repurchased for tax withholdings on share-based awards 0 (659,279)
Net cash provided by/(used in) financing activities 54,833,049 (20,532,250)
Effect of exchange rate changes on cash and cash equivalents (731,757) 0
NET CHANGE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 24,202,374 16,244,268
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 64,943,982 20,315,522
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 89,146,356 36,559,790
Supplemental disclosure of cash flow information    
Interest expense 1,550,726 3,056,129
Non-cash investing and financing activities    
Common stock issuance for acquisition 229,997,981 0
Exchangeable shares issuance for acquisition 26,658,954 0
Replacement options issuance for acquisition 2,138,173 0
Total non-cash investing and financing activities $ 258,795,107 $ 0