v3.26.3
UNAUDITED CONSOLIDATED INTERIM CASH FLOW STATEMENTS - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Loss for the period $ (13,659,962) $ (10,936,095)
Adjustments for:    
Share-based compensation expense 4,860,171 852,869
Interest income (443,269) (489,863)
Amortization of intangibles 53,049 68,507
Unrealized foreign exchange gain (719,859) (536,026)
Impairment of patents 696,180 0
Impairment of VAT receivable 1,015,378 804,425
Impairment of deposit 0 400,000
Interest expense 8,230,024 7,635,872
Gain on remeasurement of embedded derivative (1,871,000) (11,250,000)
Gain on remeasurement of warrants (1,560,000) 0
(Gain) loss on remeasurement of deferred consideration (5,486,804) 3,690,000
Gain on lease reassessment 0 (32,826)
Depreciation of property and equipment and right-of-use assets 1,071,984 1,010,711
Tax paid on behalf of grantee on vesting of RSUs 0 (18,624)
Deferred tax income (244,699) (366,385)
Operating loss before working capital changes (8,058,807) (9,167,435)
Changes in trade and other receivables (173,900) 80,153
Changes in related party receivables 0 98,133
Changes in inventories (13) (7,888)
Changes in related party payables 87,994 11,453
Changes in trade and other payables 270,325 (115,812)
Net cash used in operating activities (7,874,401) (9,101,396)
Cash flows from investing activities    
Interest received from bank 655,974 556,989
Patent costs incurred (42,481) (76,015)
Expenditure on property and equipment (4,142) (15,870)
Investment in exploration and evaluation assets (24,758,676) (13,991,490)
Net cash used in investing activities (24,149,325) (13,526,386)
Cash flows from financing activities    
Gross proceeds from registered direct offering 25,080,000 0
Transaction costs of registered direct offering (1,749,929) 0
Proceeds from exercise of warrants 0 1,150
Proceeds from exercise of stock options 48,068 0
Stamp duty taxes paid on acquisition of shares 0 (416,370)
Drawings from senior secured bridge loan facility 21,700,000 19,742,077
Transaction costs on senior secured bridge loan facility (819,300) (1,491,024)
Interest and commitment fees paid (9,150,448) (348,750)
Payment of lease liabilities (1,029,470) (475,387)
Net cash provided by financing activities 34,078,921 17,011,696
Net increase (decrease) in cash and cash equivalents 2,055,195 (5,616,086)
Effect of exchange rate changes on cash & cash equivalents (30,725) (13,157)
Cash and cash equivalents at beginning of period 20,144,250 29,283,942
Cash and cash equivalents at end of period $ 22,168,720 $ 23,654,699