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SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2026

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 June 30,												Six Months Ended June 30,
			2026						2025						2026						2025
RSUs(1)			$	2,793					$	2,210					$	5,181					$	4,217
SARs			—						—						—						7
Stock options			1,106						992						2,366						1,810
Total share-based compensation expense(2)			$	3,899					$	3,202					$	7,547					$	6,034

(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. During the three and six months ended June 30, 2026, the Company capitalized $0.26 million and $0.39 million of share-based compensation expense to Mineral properties on the unaudited Condensed Consolidated Balance Sheet, respectively. Additionally, during the three and six months ended June 30, 2025, the Company capitalized $0.32 million and $0.54 million of share-based compensation expense to Mineral properties on the unaudited Condensed Consolidated Balance Sheet, respectively.

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, 2025			1,861,338						$	6.22
Granted			427,868						22.77
Vested			(1,091,833)						6.77
Forfeited			(131,179)						6.36
Unvested, June 30, 2026			1,066,194						$	12.27

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, 2025			1,003,250						$	6.67
Granted			—						—
Exercised			(70,140)						6.63
Forfeited			—						—
Expired			—						—
Outstanding, June 30, 2026			933,110						$	6.68					0.00						$	—
Exercisable, June 30, 2026			933,110						$	6.68					0.00						$	—

The Company has no unvested SARs as of June 30, 2026.

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of all stock options, including Performance-Based Options, for the six months ended June 30, 2026 was estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted average assumptions:

Risk-free interest rate			3.7		%
Expected life			3.25 years
Expected volatility(1)			64.6		%
Expected dividend yield			—		%
Weighted average grant date fair value			$	10.34

(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 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, 2025			$3.89 - $24.00						2,640,843						$	6.45
Granted			16.26 - 26.70						455,536						24.99
Exercised			3.89 - 8.23						(417,195)						6.04
Forfeited			5.56 - 26.07						(186,005)						7.77
Expired			3.89 - 3.89						(2,141)						3.89
Outstanding, June 30, 2026			$4.57 - $26.07						2,491,038						$	9.81					3.38						$	16,345
Exercisable, June 30, 2026			$4.57 - $26.07						1,294,223						$	7.28					2.99						$	9,777

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, 2025			2,248,013						$	2.50
Granted			455,536						24.99
Vested			(1,322,105)						6.89
Forfeited			(184,630)						7.77
Unvested, June 30, 2026			1,196,814						$	12.54

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Tabular disclosure of share-based payment arrangement.

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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.

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