Quarterly report [Sections 13 or 15(d)]

Interim Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.2
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income (loss) $ (31,854) $ (25,125)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 545 649
Net realizable value adjustments 2,696 1,339
Amortization of mineral properties 542 38
Depreciation of capital assets 1,692 1,255
Accretion of asset retirement obligations 558 287
Amortization of deferred loan costs   33
Provision for reclamation   (6)
Mark to market loss (gain) 1,312 (1,474)
Loss (gain) on sale of assets 19 (2)
Unrealized foreign exchange gain 27 (16)
Changes in non-cash working capital:    
Trade receivables 16,504 (29)
Inventory (2,849) (3,842)
Lease receivables 263 (570)
Prepaid expenses (202) (21)
Accounts payable and accrued liabilities 1,451 1,846
Net cash provided by (used in) operating activities (9,296) (25,638)
Investing activities    
Purchase of capital assets (8,892) (1,853)
Net cash provided by (used in) investing activities (8,892) (1,853)
Financing activities    
Issuance of common shares and warrants for cash   26,646
Share issue costs   (806)
Proceeds from exercise of warrants and stock options 205 11,351
RSU redeemed for cash (60)  
Principal payments on finance lease liabilities (230)  
Repayment of debt   (5,813)
Net cash provided by (used in) financing activities (85) 31,378
Effects of foreign exchange rate changes on cash 54 (65)
Increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents (18,219) 3,822
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 $ 68,859 $ 72,071