v3.26.1
Consolidated Statements of Cash Flow (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
OPERATING ACTIVITIES              
Net income ( loss) $ (44,614,000) $ 2,513,000 $ (8,835,000) $ (25,387,000) $ (42,101,000) $ (34,222,000)  
Adjustments to reconcile net loss to net cash used in operating activities              
Amortization, depreciation and accretion         2,924,000 2,331,000  
Amortization of debt issuance costs         472,000 0  
Depletion         1,600,000 1,709,000  
Stock based compensation         4,575,000 1,629,000  
Inventory impairment charge 235,000   0   311,000 155,000  
Gain on sale of mineral properties 0   0   (34,438,000) 0  
Exploration costs related to mineral properties         16,911,000 7,379,000  
Unrealized loss on marketable securities 15,870,000   (2,810,000)   25,918,000 7,066,000 $ 5,681,000
Deferred tax liability         (194,000) (182,000)  
Realized gain on marketable securities (2,298,000)   (7,671,000)   (6,137,000) (7,671,000)  
Changes in operating assets and liabilities:              
Accounts receivables         4,944,000 0  
Prepaids and deposits         (5,089,000) 4,364,000  
Inventories         (10,353,000) 11,437,000  
Accounts payable and accrued liabilities         (1,140,000) 862,000  
Asset retirement obligations         (371,000) (68,000)  
Due to related parties         (333,000) (12,418,000)  
Net cash used in operating activities         (42,502,000) (17,629,000)  
INVESTING ACTIVITIES              
Purchase of property, plant, and equipment         (2,074,000) (8,182,000)  
Purchase of intangible assets         0 (1,000,000)  
Exploration costs related to mineral properties         (16,911,000) (7,379,000)  
Purchase of marketable securities         (12,557,000) 0  
Proceeds from sale of marketable securities         20,056,000 14,446,000  
Net cash used in investing activities         (11,486,000) (2,115,000)  
FINANCING ACTIVITIES              
Proceeds from exercise of warrants         17,798,000 239,000  
Proceeds from exercise of stock options         149,000 687,000  
Contributions from non-controlling interest         0 5,625,000  
Net cash provided by financing activities         17,947,000 6,551,000  
Net decrease in cash, cash equivalents and restricted cash         (36,041,000) (13,193,000)  
Foreign exchange difference on cash, cash equivalents and restricted cash         6,863,000 663,000  
Cash, cash equivalents and restricted cash, beginning of period   $ 60,791,000   $ 47,452,000 60,791,000 47,452,000 47,452,000
Cash, cash equivalents and restricted cash, end of period $ 31,613,000   $ 34,922,000   31,613,000 34,922,000 $ 60,791,000
Supplemental disclosures:              
Cash paid for interest         3,040,000 1,809,000  
Non-cash activities:              
Property, plant, and equipment additions included in accounts payable and accrued liabilities         267,000 881,000  
Mineral property depletion costs capitalized into inventory during the period         769,000 4,572,000  
Investments obtained as part of sale of mineral property         36,530,000 0  
Inventory distributions to non-controlling interest         2,227,000 2,560,000  
Shares issued for settlement of restricted stock units         $ 58,000 $ 0