Quarterly report [Sections 13 or 15(d)]

Interim Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.3
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income (loss) $ (59,317) $ (33,127)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 2,225 965
Net realizable value adjustments 2,696 2,061
Amortization of mineral properties 1,213 205
Depreciation of capital assets 2,741 1,979
Accretion of asset retirement obligations 902 518
Amortization of deferred loan costs   33
Provision for reclamation 59 (6)
Mark to market loss (gain) 9,166 (4,442)
Loss (gain) on sale of assets 95 (2)
Unrealized foreign exchange gain 21 (22)
Trade receivables 14,428 (27)
Inventory (1,131) (3,736)
Lease receivables 419 (520)
Prepaid expenses (678) 623
Accounts payable and accrued liabilities 2,819 3,011
Net cash provided by (used in) operating activities (24,342) (32,487)
Investing activities    
Purchase of capital assets (14,236) (5,701)
Net cash provided by (used in) investing activities (14,236) (5,701)
Financing activities    
Issuance of common shares for cash 15,168 97,568
Share issue costs (379) (4,683)
Proceeds from exercise of warrants and stock options 573 12,228
RSU redeemed for cash (60) (56)
Principal payments on finance lease liabilities (449)  
Repayment of debt   (5,727)
Net cash provided by (used in) financing activities 14,853 99,330
Effects of foreign exchange rate changes on cash 53 (34)
Increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents (23,672) 61,108
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 $ 63,406 $ 129,357