v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
shares in Thousands, $ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net loss $ (96,933) $ (65,169)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depletion, depreciation and amortization 5,285 4,001
Share-based compensation 10,712 8,790
Accretion of asset retirement obligations 4,887 2,622
Settlement of asset retirement obligations (3,903) (19,952)
Foreign exchange loss 2,005 1,780
Loss in unconsolidated affiliates 2,423 748
Realized gain on marketable securities (2,083) (355)
Gain on sale of assets, net (851) (5,296)
Amortization of debt issuance costs and other, net 2,550 (84)
Exploration project abandonment charge    
Marketable securities 40,457 (6,655)
Trade and other receivables (6,623) 25,696
Inventories (2,464) (3,649)
Prepaid expenses and other current assets (33) (1,015)
Accounts payable, accrued liabilities and other current liabilities 6,111 (14,731)
Net cash used in operating activities (38,460) (73,269)
Investing activities    
Additions to property, plant and equipment (14,454) (9,804)
Additions to mineral properties (24,211) (23,036)
Purchases of marketable securities (265,739) (189,578)
Proceeds from sales and maturities of marketable securities 230,057 127,910
Contributions to investments (17,706) (9,343)
Proceeds from sale of assets 2,141 5,296
Acquisition of ASM, net (1,784) 0
Net cash used in investing activities (91,696) (98,555)
Financing activities    
Issuance of common shares for cash, net of issuance costs 153,075 226,843
Deferred financing costs paid (6,244) 0
Cash received from exercise of stock options 2,708 1,104
Contribution to non-controlling interest 404 759
Net cash provided by financing activities 141,722 227,920
Effect of exchange rate fluctuations on cash held in foreign currencies 695 1,916
Net change in cash, cash equivalents and restricted cash 12,261 58,012
Cash, cash equivalents and restricted cash, beginning of period 87,204 58,605
Cash, cash equivalents and restricted cash, end of period 99,465 116,617
Supplemental disclosure of cash flow information:    
Less: restricted cash related to assets held for sale 133 151
Plus: release of restricted cash related to sale of assets 3,122 145
Net change in cash, cash equivalents and restricted cash $ (1,052) $ 1,378
Non-cash financing transactions:    
Shares issued for acquisition 217,242 0
Restricted Stock Units (RSUs)    
Financing activities    
Payment, Tax Withholding, Share-Based Payment Arrangement $ (7,521) $ (786)
Stock Appreciation Rights (SARs)    
Financing activities    
Payment, Tax Withholding, Share-Based Payment Arrangement $ (700) $ 0