Quarterly report [Sections 13 or 15(d)]

Interim Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.1
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income (loss) $ (10,898) $ (18,541)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation (158) 324
Net realizable value adjustments 2,598 1,139
Amortization of mineral properties 271 (22)
Depreciation of capital assets 728 603
Accretion expense 277 121
Amortization of deferred loan costs   33
Provision for reclamation   (6)
Mark to market loss (gain) (4,310) 2,756
Loss (gain) on sale of assets 24  
Unrealized foreign exchange gain 1 (12)
Changes in non-cash working capital:    
Trade receivables 16,511  
Inventory (5,340) (3,266)
Lease receivables 105 13
Prepaid expenses 541 (131)
Accounts payable and accrued liabilities 2,456 2,612
Net cash provided by (used in) operating activities 2,806 (14,377)
Investing activities    
Purchase of capital assets (3,828) (843)
Net cash used in investing activities (3,828) (843)
Financing activities    
Issuance of common shares and warrants for cash   4,227
Share issue costs   (106)
Proceeds from exercise of warrants and stock options 205 11,202
RSU redeemed for cash (60)  
Change in finance lease liabilities (156)  
Repayment of debt   (5,767)
Net cash provided by financing activities (11) 9,556
Effects of foreign exchange rate changes on cash (58) (48)
Increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents (1,091) (5,712)
Beginning cash and cash equivalents, and restricted cash and cash equivalents 87,078 68,249
Ending cash and cash equivalents, and restricted cash and cash equivalents $ 85,987 $ 62,537