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LEASES | 12 Months Ended
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Dec. 31, 2024
Presentation of leases for lessee [abstract] |
LEASES |
10. | LEASES
(a) | Lease receivable
On April 5, 2023, NexGen completed a purchase agreement whereby the Company acquired $4,100 of equipment and immediately thereafter leased the equipment to a third party. The lease payments commence the first day of the month following the six-month anniversary of the date the equipment was delivered. The undiscounted value of the remaining lease payments as at December 31, 2024 is as follows:
|  | Less than 1 year |  |  |  |  |  | 1 to 3 years |  |  |  |  |  | 4 to 5 years |  |  |  |  |  | Over 5 years |  |  |  |  |  | Total |
Lease receivable |  | $ | 512 |  |  |  |  |  |  | $ | 1,025 |  |  |  |  |  |  | $ | 512 |  |  |  |  |  |  | $ | 1,453 |  |  |  |  |  |  | $ | 3,502 |
|  | December 31, 2024 |  |  |  |  | December 31, 2023 |
Current portion |  |  | $      512 |  |  |  |  |  | $      512 |
Non-current portion |  |  | 2,990 |  |  |  |  |  | 3,502 |
Balance, end of period |  |  | $   3,502 |  |  |  |  |  | $   4,014 |
(b) | Right-of-use assets
|  | December 31, 2024 |  |  |  |  | December 31, 2023 |
Right-of-use assets, beginning of period |  | $ | 1,474 |  |  |  |  | $ | 1,933 |
Additions |  |  | - |  |  |  |  |  | 246 |
Depreciation |  |  | (790) |  |  |  |  |  | (705) |
Balance, end of period |  | $ | 684 |  |  |  |  | $ | 1,474 |
The right-of-use assets are related to corporate office and warehouse leases, and are included in the Other category in Note 6.
(c) | Lease liabilities
|  | December 31, 2024 |  |  |  |  | December 31, 2023 |
Lease liabilities, beginning of period |  | $ | 1,942 |  |  |  |  | $ | 2,463 |
Additions |  |  | - |  |  |  |  |  | 254 |
Interest expense on lease liabilities |  |  | 110 |  |  |  |  |  | 153 |
Payment of lease liabilities |  |  | (1,035) |  |  |  |  |  | (928) |
Balance, end of period |  | $ | 1,017 |  |  |  |  | $ | 1,942 |
Current portion |  |  | 926 |  |  |  |  |  | 926 |
Non-current portion |  |  | 91 |  |  |  |  |  | 1,016 |
Balance, end of period |  | $ | 1,017 |  |  |  |  | $ | 1,942 |
The undiscounted value of the lease liabilities as at December 31, 2024 was $1,476 (December 31, 2023 - $2,952).
(d) | Amounts recognized in consolidated statements of net income (loss)
|  | For the year ended December 31, |
|  | 2024 |  |  | 2023 |
Expense relating to variable lease payments |  | $ | 453 |  |  | $ | 417 |

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Section Presentation -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI -URIDate 2024-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2024-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI -URIDate 2024-03-27 + Details
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