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

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

Fair Value Hierarchy as of December 31, 2025

Fair Value Hierarchy as of December 31, 2024

Level 1

Level 2

Level 3

Total

Level 1

Level 2

Level 3

Total

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

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