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CAPITAL MANAGEMENT AND FINANCIAL RISK (Tables)

12 Months Ended

Dec. 31, 2021

CAPITAL MANAGEMENT AND FINANCIAL RISK

Capital management

		At December 31				At December 31
(in thousands)		2021				2020

Net cash and investments:
Cash and cash equivalents		$	63,998			$	24,992
Equity instrument investments (note 7)			14,578				16,950
Investments-uranium (note 7)			133,114				-
Debt obligations-current (note 16)			(179	)			(240	)
Net cash and investments		$	211,511			$	41,702

Credit risk

		At December 31				At December 31
(in thousands)		2021				2020

Cash and cash equivalents		$	63,998			$	24,992
Trade and other receivables			3,656				3,374
Restricted cash and investments			12,001				12,018
		$	79,655			$	40,384

Maturities of financial liabilities

(in thousands)		Within 1 Year				1 to 5 Years

Accounts payable and accrued liabilities		$	8,590			$	-
Debt obligations (note 16)			179				329
		$	8,769			$	329

Currency risk

December 31, 2021

Sensitivity

Foreign

Foreign

Change in

Exchange

Exchange

net income

(in thousands except foreign exchange rates)

Rate

Rate

(loss)

Currency risk

CAD weakens

1.2678

1.3945

$

14,181

CAD strengthens

1.2678

1.1410

$

(14,181

)

Fair value of financial assets and financial liabilities

		Financial		Fair		December 31,				December 31,
		Instrument		Value		2021				2020
(in thousands)		Category⁽¹⁾		Hierarchy		Fair Value				Fair Value

Financial Assets:
Cash and equivalents		Category B				$	63,998			$	24,992
Trade and other receivables		Category B					3,656				3,374
Investments
Equity instruments-shares		Category A		Level 1			14,349				16,657
Equity instruments-warrants		Category A		Level 2			229				293
Restricted cash and equivalents
Elliot Lake reclamation trust fund		Category B					2,866				2,883
Credit facility pledged assets		Category B					9,000				9,000
Reclamation letter of credit collateral		Category B					135				135
						$	94,233			$	57,334

Financial Liabilities:
Account payable and accrued liabilities		Category C					8,590				7,178
Debt obligations		Category C					508				615
Warrants on investment		Category A		Level 2			1,625				-
Share purchase warrants		Category A		Level 2			20,337				-
						$	31,060			$	7,793