Quarterly report [Sections 13 or 15(d)]

Interim Condensed Consolidated Statements of Cash Flows

v3.26.1
Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income (loss) $ (28,775) $ (10,898)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 623 (158)
Net realizable value adjustments   2,598
Amortization of mineral properties 902 271
Depreciation of capital assets 1,012 728
Accretion of asset retirement obligations 429 277
Amortization of debt discount 1,459  
Provision for reclamation 72  
Mark to market loss (gain) 6,363 (4,310)
Loss (gain) on sale of assets (689) 24
Unrealized foreign exchange gain (21) 1
Changes in non-cash working capital:    
Trade receivables (20) 16,511
Inventory (3,735) (5,340)
Lease receivables 109 105
Prepaid expenses and other current assets (925) 541
Accounts payable and accrued liabilities 6,707 2,456
Net cash provided by (used in) operating activities (16,489) 2,806
Investing activities    
Proceeds from sale of capital assets 136  
Purchase of capital assets (12,299) (3,828)
Net cash provided by (used in) investing activities (12,163) (3,828)
Financing activities    
Convertible notes financing costs (206)  
Proceeds from exercise of warrants and stock options 28,734 205
RSU redeemed for cash (35) (60)
Payments on financial lease liability (125) (156)
Net cash provided by (used in) financing activities 28,368 (11)
Effects of foreign exchange rate changes on cash 635 (58)
Increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents 351 (1,091)
Beginning cash and cash equivalents, and restricted cash and cash equivalents 135,347 87,078
Ending cash and cash equivalents, and restricted cash and cash equivalents $ 135,698 $ 85,987