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Consolidated Balance Sheets - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Current assets          
Cash and cash equivalents $ 93,962   $ 93,962   $ 38,603
Marketable securities (Notes 4 and 16) 141,302   141,302   80,854
Trade and other receivables, no allowance for credit losses, as of September 30, 2025 and December 31, 2024 (Note 5) 12,061   12,061   37,763
Inventories (Note 6) 74,354   74,354   66,504
Prepaid expenses and other current assets 5,227   5,227   6,463
Total current assets 326,906   326,906   230,187
Mineral properties, net (Note 7) 302,296   302,296   278,330
Property, plant and equipment, net (Note 7) 62,092   62,092   55,187
Investments, net (Note 8) 24,174   24,174   15,890
Marketable securities (Notes 4 and 16) 8,229   8,229   0
Intellectual property, net (Note 3) 4,479   4,479   4,767
Restricted cash (Note 9) 22,655   22,655   20,002
Other assets 7,486   7,486   7,606
Total assets 758,317   758,317   611,969
Current liabilities          
Accounts payable and accrued liabilities (Note 14) 20,314   20,314   32,228
Asset retirement obligations (Note 9) 5,567   5,567   24,604
Contingent consideration (Notes 3 and 16) 1,745 $ 1,764 1,745 $ 1,764  
Other liabilities 810   810   693
Total current liabilities 28,436   28,436   59,289
Asset retirement obligations (Note 9) 21,220   21,220   19,513
Other liabilities 1,098   1,098   1,490
Total liabilities 50,754   50,754   80,292
Equity          
Share capital Common shares, without par value, unlimited shares authorized; shares issued and outstanding 236,866,480 and 198,666,994 as of September 30, 2025 and December 31, 2024, respectively 1,174,490   1,174,490   937,889
Accumulated deficit (468,868)   (468,868)   (404,023)
Accumulated other comprehensive loss (2,377)   (2,377)   (6,072)
Total shareholders' equity 703,245   703,245   527,794
Non-controlling interest 4,318   4,318   3,883
Total equity 707,563 376,687 707,563 376,687 531,677
Total liabilities and equity 758,317   758,317   611,969
Commitments and contingencies (Note 15)    
Depreciation $ 1,300 $ 660 $ 3,730 $ 1,950