v3.26.1
CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash $ 1,767,144 $ 4,171,891
Concentrate and ore inventories (Note 2) 1,488,112 1,595,363
Foreign tax receivable 510,156 1,424,244
Supplies inventory 2,059,852 2,313,917
Other current assets (Note 4) 738,227 694,939
Total current assets 6,563,491 10,200,354
Mineral property interests, plant and equipment (net of accumulated depreciation and depletion of $2,083,978 and $1,094,844) (Note 3) 21,829,220 17,308,323
Right-of-use assets, net 485,020 500,392
Deferred tax asset, net 2,043,168 2,349,186
Foreign tax receivable 30,824,758 27,238,331
TOTAL ASSETS 61,745,657 57,596,586
Current liabilities    
Accounts payable and accrued liabilities (Note 5) 16,890,648 17,305,927
Accrued mining taxes and other liabilities (Note 5) 12,029,206 9,786,005
Derivative liability (Note 6) 356,857 1,249,030
Credit line (Note 7) 10,000,000 8,333,333
Current portion of operating lease payable 107,802 87,689
Mining concession duties payable (Note 8) 5,538,989 5,174,078
Total current liabilities 44,923,502 41,936,062
Credit line (Note 7) 2,500,000 6,666,667
Operating lease payable, less current portion 426,226 511,317
Deferred tax liability 622,030 622,030
Asset retirement obligation (Note 9) 2,968,319 2,831,430
Other liabilities 209,220 266,550
TOTAL LIABILITIES 51,649,297 52,834,056
TEMPORARY EQUITY (Note 10)    
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY (DEFICIENCY) (Note 10)    
Common Stock, $0.01 par value, 40,000,000 shares authorized 30,149,059 shares issued and outstanding 301,490 293,157
Series E Convertible Preferred Stock, $0.0001 par value, 1,552,795 shares authorized, issued and outstanding 2,500,000 2,500,000
Preferred rights 40,000 40,000
Additional paid-in-capital 71,991,896 70,168,395
Treasury stock, 37,180 shares each period, at cost (95,023) (95,023)
Accumulated other comprehensive income (8,310,012) (8,647,513)
Accumulated deficit (62,189,471) (65,353,966)
TOTAL STOCKHOLDERS' EQUITY (DEFICIENCY) 4,238,880 (1,094,950)
TOTAL LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY (DEFICIENCY) 61,745,657 57,596,586
Series C Senior Convertible Preferred Stock    
TEMPORARY EQUITY (Note 10)    
Senior Convertible Preferred Stock 4,337,480 4,337,480
Series D Senior Convertible Preferred Stock    
TEMPORARY EQUITY (Note 10)    
Senior Convertible Preferred Stock $ 1,520,000 $ 1,520,000