v3.26.3
OTHER LIABILITIES (Tables)
9 Months Ended
Sep. 30, 2026
Other Liabilities Disclosure [Abstract]  
Schedule of Other Liabilities
September 30, 2026December 31, 2025
NSR Royalty$246,892 $— 
Silver Purchase Agreement embedded derivative54,141 20,380 
Warrant liability
27,227 24,117 
Operating lease liability4,994 4,735 
Share-based payment liability
— 6,959 
Orion Gold Prepay embedded derivative— 9,278 
Conversion and change of controls rights— 1,358 
Total other liabilities$333,254 $66,827 
Less current portion6,258 18,373 
Long-term portion$326,996 $48,454 
Schedule of Warrant Liability
Issue dateExpiry date
Exercise price (C$)
Number of warrantsSeptember 30, 2026December 31, 2025
Brokered placement5/1/20245/1/20282.1534,847,025$20,876 $18,052 
Orion warrants1/15/20251/15/20291.015,000,0006,155 5,287 
Orion warrants1/24/20241/24/20282.72500,000196 361 
Orion warrants9/20/20239/20/20263.173,750,000— 417 
Total warrant liability$27,227 $24,117 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The fair value of the warrants, excluding warrants issued in connection with the May 2024 brokered placement, were calculated using the Black-Scholes option pricing model with the following assumptions:

September 30, 2026December 31, 2025
Risk-free rate
3.2% to 3.4%
2.3% to 2.7%
Expected volatility
60% to 100%
64% to 104%