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SHARE-BASED PAYMENTS (Tables) | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | The Company’s share-based compensation expense, by type of award, is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
RSUs(1) | $ | 2,397 |  |  | $ | 636 |  |  | $ | 6,614 |  |  | $ | 2,218 |
SARs | — |  |  | 4 |  |  | 7 |  |  | 268 |
Stock options | 1,009 |  |  | 387 |  |  | 2,819 |  |  | 1,298 |
Total share-based compensation expense(2) | $ | 3,406 |  |  | $ | 1,027 |  |  | $ | 9,440 |  |  | $ | 3,784 |
(1)The fair value of the RSUs granted under the Compensation Plan was determined as the higher of the Company's closing share price on the NYSE American on the last trading day before the date of grant and the five-day volume-weighted average price (“VWAP”) on the NYSE American ending on the last trading day before the grant date. (2)Share-based compensation is included in Selling, general and administration and Exploration, development and processing in the unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss. Additionally, the Company capitalized $0.11 million and $0.65 million of share-based compensation expense to Mineral properties on the unaudited Condensed Consolidated Balance Sheet during the three and nine months ended September 30, 2025, respectively. No share-based compensation expense was capitalized for the three and nine months ended September 30, 2024.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | A summary of the Company’s unvested RSU activity is as follows:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Unvested, December 31, 2024 | 1,143,146 |  |  | $ | 6.65 |
Granted | 1,643,693 |  |  | 5.99 |
Vested | (463,072) |  |  | 6.98 |
Forfeited | (75,351) |  |  | 5.57 |
Unvested, September 30, 2025 | 2,248,416 |  |  | $ | 6.14 |
A summary of the Company’s SARs activity is as follows:
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Intrinsic Value
Outstanding, December 31, 2024 | 1,016,745 |  |  | $ | 6.67 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | — |  |  | — |  |  |  |  |
Forfeited | — |  |  | — |  |  |  |  |
Expired | — |  |  | — |  |  |  |  |
Outstanding, September 30, 2025 | 1,016,745 |  |  | $ | 6.67 |  |  | 1.55 |  | $ | 8,823
Exercisable, September 30, 2025 | — |  |  | $ | — |  |  | 0.00 |  | $ | —
A summary of the Company’s unvested SARs activity is as follows:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Unvested, December 31, 2024 | 1,016,745 |  |  | $ | 3.83 |
Granted | — |  |  | — |
Vested | — |  |  | — |
Expired | — |  |  | — |
Forfeited | — |  |  | — |
Unvested, September 30, 2025 | 1,016,745 |  |  | $ | 3.83 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of all stock options, including Performance Based Options, granted under the Compensation Plan for the nine months ended September 30, 2025 was estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted average assumptions:
Risk-free interest rate | 4.2 | %
Expected life | 3.1 years
Expected volatility(1) | 63.3 | %
Expected dividend yield | — | %
Weighted average grant date fair value | $ | 2.30 |
(1)Expected volatility is measured based on the Company’s historical share price volatility over a period equivalent to the expected life of the stock options.
Schedule of Share-based Compensation, Stock Options, Activity | A summary of all of the Company’s stock option activity, including Performance-Based Options, is as follows:
| Range of Exercise Prices |  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Intrinsic Value
Outstanding, December 31, 2024 | $1.76 - $8.60 |  | 1,132,972 |  |  | $ | 6.58 |  |  |  |  |
Granted | 4.57 - 10.69 |  | 2,020,825 |  |  | 6.00 |  |  |  |  |
Exercised | 1.76 - 8.41 |  | (239,610) |  |  | 4.54 |  |  |  |  |
Forfeited | 5.43 - 7.48 |  | (128,415) |  |  | 5.88 |  |  |  |  |
Expired | 1.76 - 7.48 |  | (39,515) |  |  | 3.14 |  |  |  |  |
Outstanding, September 30, 2025 | $2.92 - $10.69 |  | 2,746,257 |  |  | $ | 6.42 |  |  | 3.88 |  | $ | 24,538 |
Exercisable, September 30, 2025 | $2.92 - $8.60 |  | 436,788 |  |  | $ | 7.21 |  |  | 2.89 |  | $ | 3,557 |
A summary of the Company’s unvested stock option activity is as follows:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Unvested, December 31, 2024 | 798,803 |  |  | $ | 3.35 |
Granted | 2,020,825 |  |  | 2.30 |
Vested | (381,745) |  |  | 3.43 |
Forfeited | (128,415) |  |  | 2.47 |
Unvested, September 30, 2025 | 2,309,468 |  |  | $ | 2.47 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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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 No definition available. + Details
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