| Schedule of Long - Lived Assets and Geographic Region |
The following table summarizes the Company's long-lived assets, which includes mineral interests by geographic region as of September 30, 2026 and December 31, 2025:
|
|
|
|
|
|
|
|
|
|
September 30, 2026 |
|
|
December 31, 2025 |
|
United States |
|
$ |
24,498 |
|
|
$ |
23,688 |
|
Brazil |
|
|
311 |
|
|
|
29 |
|
Total Long-lived assets |
|
$ |
24,809 |
|
|
$ |
23,717 |
|
|
| Schedule of Segment Expense and Reconciled to Net Loss Before Taxes |
Significant segment expense included in the measure of segment profit or loss are shown below and reconciled to net loss before taxes for the three and nine months ended September 30, 2026 and 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended September 30, 2026 |
|
United States Mining Operations |
|
|
Brazil Mining Operations |
|
|
Total |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
Exploration expenses |
|
$ |
3,537 |
|
|
$ |
8,077 |
|
|
$ |
11,614 |
|
General and administrative expenses |
|
|
32 |
|
|
|
134 |
|
|
|
166 |
|
Depreciation expense |
|
|
55 |
|
|
|
5 |
|
|
|
60 |
|
Total operating expenses |
|
|
3,624 |
|
|
|
8,216 |
|
|
|
11,840 |
|
Segment operating loss |
|
$ |
(3,624 |
) |
|
$ |
(8,216 |
) |
|
$ |
(11,840 |
) |
Reconciling items |
|
|
|
|
|
|
|
|
|
Corporate and other expenses |
|
|
|
|
|
|
|
|
(3,782 |
) |
Interest income |
|
|
|
|
|
|
|
|
364 |
|
Interest expense |
|
|
|
|
|
|
|
|
(19 |
) |
Change in fair value of warrants |
|
|
|
|
|
|
|
|
4,437 |
|
Loss before income taxes |
|
|
|
|
|
|
|
$ |
(10,840 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
For the nine months ended September 30, 2026 |
|
United States Mining Operations |
|
|
Brazil Mining Operations |
|
|
Total |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
Exploration expenses |
|
$ |
9,153 |
|
|
$ |
9,092 |
|
|
$ |
18,245 |
|
General and administrative expenses |
|
|
61 |
|
|
|
668 |
|
|
|
729 |
|
Depreciation expense |
|
|
109 |
|
|
|
10 |
|
|
|
119 |
|
Total operating expenses |
|
|
9,323 |
|
|
|
9,770 |
|
|
|
19,093 |
|
Segment operating loss |
|
$ |
(9,323 |
) |
|
$ |
(9,770 |
) |
|
$ |
(19,093 |
) |
Reconciling items |
|
|
|
|
|
|
|
|
|
Corporate and other expenses |
|
|
|
|
|
|
|
|
(14,109 |
) |
Interest income |
|
|
|
|
|
|
|
|
994 |
|
Interest expense |
|
|
|
|
|
|
|
|
(93 |
) |
Foreign exchange loss |
|
|
|
|
|
|
|
|
(3 |
) |
Change in fair value of SAFE |
|
|
|
|
|
|
|
|
(4,625 |
) |
Change in fair value of warrants |
|
|
|
|
|
|
|
|
(3,482 |
) |
Loss before income taxes |
|
|
|
|
|
|
|
$ |
(40,411 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended September 30, 2025 |
|
United States Mining Operations |
|
|
Brazil Mining Operations |
|
|
Total |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
Exploration expenses |
|
$ |
578 |
|
|
$ |
1,177 |
|
|
$ |
1,755 |
|
General and administrative expenses |
|
|
7 |
|
|
|
203 |
|
|
|
210 |
|
Depreciation expense |
|
|
3 |
|
|
|
1 |
|
|
|
4 |
|
Total operating expenses |
|
|
588 |
|
|
|
1,381 |
|
|
|
1,969 |
|
Segment operating loss |
|
$ |
(588 |
) |
|
$ |
(1,381 |
) |
|
$ |
(1,969 |
) |
Reconciling items |
|
|
|
|
|
|
|
|
|
Corporate and other expenses |
|
|
|
|
|
|
|
|
(2,487 |
) |
Transaction costs |
|
|
|
|
|
|
|
|
(90 |
) |
Interest income |
|
|
|
|
|
|
|
|
52 |
|
Interest expense |
|
|
|
|
|
|
|
|
(79 |
) |
Change in fair value of warrants |
|
|
|
|
|
|
|
|
61 |
|
Loss before income taxes |
|
|
|
|
|
|
|
$ |
(4,512 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
For the nine months ended September 30, 2025 |
|
United States Mining Operations |
|
|
Brazil Mining Operations |
|
|
Total |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
Exploration expenses |
|
$ |
578 |
|
|
$ |
1,342 |
|
|
$ |
1,920 |
|
General and administrative expenses |
|
|
7 |
|
|
|
405 |
|
|
|
412 |
|
Depreciation expense |
|
|
3 |
|
|
|
4 |
|
|
|
7 |
|
Total operating expenses |
|
|
588 |
|
|
|
1,751 |
|
|
|
2,339 |
|
Segment operating loss |
|
$ |
(588 |
) |
|
$ |
(1,751 |
) |
|
$ |
(2,339 |
) |
Reconciling items |
|
|
|
|
|
|
|
|
|
Corporate and other expenses |
|
|
|
|
|
|
|
|
(2,803 |
) |
Transaction costs |
|
|
|
|
|
|
|
|
(247 |
) |
Interest income |
|
|
|
|
|
|
|
|
52 |
|
Interest expense |
|
|
|
|
|
|
|
|
(138 |
) |
Change in fair value of warrants |
|
|
|
|
|
|
|
|
61 |
|
Loss before income taxes |
|
|
|
|
|
|
|
$ |
(5,414 |
) |
|