Annual report [Section 13 and 15(d), not S-K Item 405]

Summary of Significant Accounting Policies (Tables)

v3.25.4
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2025
Summary of Significant Accounting Policies  
Schedule of single segment's significant expenses in consistent with Company's consolidated statement of operations and comprehensive loss

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​

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​

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​

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Year Ended

​

​

December 31,

Single Reportable Segment

​

2025

​

2024

​

​

​

​

​

U3O8 sales

​

27,179

​

33,146

Disposal fees

​

28

​

560

Sales

​

27,207

​

33,706

​

​

​

​

​

U3O8 product costs

​

24,430

​

36,674

Lower of cost or NRV adjustments

​

2,703

​

6,005

Cost of sales

​

27,133

​

42,679

​

​

​

​

​

Gross profit (loss)

​

74

​

(8,973)

​

​

​

​

​

Exploration and evaluation

​

4,899

​

3,803

Development

​

54,430

​

41,509

General and administration

​

8,880

​

8,044

Accretion of asset retirement obligations

​

1,245

​

760

Operating costs

​

69,454

​

54,116

​

​

​

​

​

Operating profit (loss)

​

(69,380)

​

(63,089)

​

​

​

​

​

Interest income

​

2,407

​

3,677

Interest expense

​

(1,947)

​

(336)

Mark to market gain (loss)

​

(6,124)

​

6,444

Foreign exchange gain (loss)

​

(26)

​

80

Other income (loss)

​

172

​

35

Net income (loss)

​

(74,898)

​

(53,189)

Schedule of financial assets and liabilities measured at fair value on recurring basis

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Fair Value Hierarchy as of December 31, 2025

​

Fair Value Hierarchy as of December 31, 2024

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​

Level 1

​

Level 2

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Level 3

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Total

​

Level 1

​

Level 2

​

Level 3

​

Total

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​

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​

​

​

​

​

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​

​

​

​

​

​

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​

Financial instrument assets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash equivalents

​

2,938

​

—

​

—

​

2,938

​

65,096

​

—

​

—

​

65,096

Restricted cash equivalents

​

11,472

​

—

​

—

​

11,472

​

11,011

​

—

​

—

​

11,011

Capped call derivative

​

—

​

15,108

​

—

​

15,108

​

—

​

—

​

—

​

—

​

​

14,410

​

15,108

​

—

​

29,518

​

76,107

​

—

​

—

​

76,107

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​

​

​

​

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​

​

​

​

​

​

​

​

​

​

​

Financial instrument liabilities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Inventory derivative
obligation (net)

​

—

​

16,638

​

—

​

16,638

​

—

​

14,408

​

—

​

14,408

Warrant liability

​

—

​

1,541

​

—

​

1,541

​

—

​

2,529

​

—

​

2,529

Stock option liabilities

​

—

​

1,346

​

—

​

1,346

​

—

​

1,758

​

—

​

1,758

Conversion option derivative

​

—

​

—

​

52,258

​

52,258

​

—

​

—

​

—

​

—

​

​

—

​

19,525

​

52,258

​

71,783

​

—

​

18,695

​

—

​

18,695

​