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Share-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2025
Share-Based Compensation |
Schedule of company estimated the realization of the vesting conditions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Number of |  | Number of |  | Number of
​ | ​ | Short-Term | ​ | Long-term | ​ | Options
​ | ​ | Options | ​ | Options |  | Outstanding
​ | ​ | Outstanding | ​ | Outstanding |  | under
​ | ​ | under 2018 Plan |  | under 2018 Plan |  | Incentive Plan
Outstanding – December 31, 2023 |  | 15,074,240 |  | 9,783,922 | ​ | —
Granted | ​ | — | ​ | — | ​ | 3,940,000
Expired |  | (57,893) |  | (139,048) | ​ | —
Exercised |  | (715,772) |  | — | ​ | —
Outstanding – December 31, 2024 |  | 14,300,575 |  | 9,644,874 | ​ | 3,940,000
Granted | ​ | — | ​ | — | ​ | 1,250,000
Exercised |  | (712,124) |  | — | ​ | —
Forfeited |  | — |  | — | ​ | (500,000)
Outstanding – June 30, 2025 |  | 13,588,451 |  | 9,644,874 | ​ | 4,690,000
Summary of the RSU activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three months | ​ | Three months |  | Six months | ​ | Six months
​ | ​ | ended June 30, | ​ | ended June 30, | ​ | ended June 30, | ​ | ended June 30,
Vesting Period |  | 2025 |  | 2024 |  | 2025 |  | 2024
Vesting Immediately (1) | ​ | 462,042 | ​ | 206,260 | ​ | 3,081,627 | ​ | 4,006,695
Vesting fully within and on first anniversary of the grant date (2) |  | 134,226 |  | 476,189 |  | 194,226 |  | 493,430
Vesting in thirds on each anniversary of the grant date |  | — |  | 68,027 |  | 8,818,935 |  | 7,212,375
Vesting in fourths on each anniversary of the grant date |  | — |  | 701,880 |  | 176,302 |  | 701,880
Vesting three years from grant date (3) | ​ | 66,508 | ​ | — | ​ | 66,508 | ​ | —
Vesting based on performance conditions (4) | ​ | 364,785 | ​ | — | ​ | 688,969 | ​ | —
Vesting based on market conditions | ​ | — | ​ | 20,000,000 | ​ | — | ​ | 20,000,000
Total Units Granted | ​ | 1,027,561 | ​ | 21,452,356 | ​ | 13,026,567 | ​ | 32,414,380
| (1) | Of the 462,042 RSUs granted during the three months ended June 30, 2025, 310,530 RSUs were granted to consultants with an aggregate fair value of $0.8 million recorded in general and administrative expenses. The 462,042 RSUs granted during the three months ended June 30, 2025, also consist of 91,512 RSUs with an aggregate fair value of $398,075 issued to the non-employee directors in lieu of the cash portion of their director fees which commenced from the second quarter of 2024 until the end of March 2025. The remaining 60,000 grants were issued to employees.
| (2) | During the three months ended June 30, 2025, an aggregate of 134,226 RSUs were granted to the Company’s non-employee directors under the Company’s Non-employee Director Compensation Policy, which will vest at the Company’s 2026 annual shareholders meeting. The total fair value of units granted as annual grants to non-employee directors amounted to $0.6 million. In the first quarter of 2025, 60,000 RSUs vesting on July 1, 2025, were issued to a consultant, resulting in $0.1 million charged as general and administrative expenses.
| (3) | During three and six months ended June 30, 2025, the Company issued a special retention grant to one of the non-employee directors vesting three years from the grant date. The fair value of the grant amounted to $0.3 million.
| (4) | During three and six months ended June 30, 2025, the Company issued 338,653 RSUs with an aggregate fair value of $1.9 million to consultants as fees for securing the agreement with Korea Zinc (Note 10). The remaining 26,132 RSUs with an aggregate fair value of $0.1 million issued to consultants during the second quarter of 2025 were recorded as general and administrative expenses.
Restricted Stock Units ("RSUs") |
Share-Based Compensation |
Summary of the RSU activity | ​
​ | ​ | ​
​ |  | Number of RSUs
​ | ​ | Outstanding
Outstanding – December 31, 2023 |  | 12,484,880
Granted |  | 33,079,041
Forfeited |  | (516,685)
Exercised |  | (10,734,581)
Outstanding - December 31, 2024 | ​ | 34,312,655
Granted | ​ | 13,026,567
Forfeited | ​ | (794,047)
Exercised | ​ | (9,472,733)
Outstanding - June 30, 2025 |  | 37,072,442

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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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