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CAPITAL MANAGEMENT AND FINANCIAL RISK (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
CAPITAL MANAGEMENT AND FINANCIAL RISK |
Capital management | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | At December 31 |  | At December 31
(in thousands) | ​ | 2022 | ​ | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​
Net cash and investments: |  | ​ |  |  | ​ |
Cash and cash equivalents (note 4) | ​ | $ | 50,915 | ​ | $ | 63,998
Equity instrument investments (note 7) | ​ |  | 8,109 | ​ |  | 14,578
Investments-uranium (note 7) | ​ |  | 162,536 | ​ |  | 133,114
Debt obligations-current (note 16) | ​ |  | (216) | ​ |  | (179)
Net cash and investments | ​ | $ | 221,344 | ​ | $ | 211,511
​
Credit risk | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | At December 31 |  | At December 31
(in thousands) | ​ | 2022 | ​ | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents |  | $ | 50,915 |  | $ | 63,998
Trade and other receivables |  |  | 4,143 |  |  | 3,656
Restricted cash and investments |  |  | 11,105 |  |  | 12,001
​ |  | $ | 66,163 |  | $ | 79,655
​
Maturities of financial liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Within 1 |  | 1 to 5
(in thousands) | ​ | Year | ​ | Years
​ | ​ | ​ | ​ | ​ | ​ | ​
Accounts payable and accrued liabilities (note 11) |  | $ | 10,299 |  | $ | —
Debt obligations (note 16) |  |  | 216 |  |  | 360
​ |  | $ | 10,515 |  | $ | 360
​
Currency risk | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Dec. 31'2022 |  | Sensitivity |  | ​ | ​
​ | ​ | Foreign | ​ | Foreign | ​ | Change in
​ | ​ | Exchange | ​ | Exchange | ​ | net income
(in thousands except foreign exchange rates) | ​ | Rate | ​ | Rate | ​ | (loss)
​ |  |  |  |  |  | ​ |
Currency risk | ​ | ​ | ​ | ​ | ​ | ​ | ​
CAD weakens |  | 1.3544 |  | 1.4898 | ​ | $ | 17,330
CAD strengthens |  | 1.3544 |  | 1.2190 | ​ | $ | (17,330)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
Price risk | ​
​ | ​ | ​ | ​
​ | ​ | ​
​ |  | Change in
​ | ​ | net income
(in thousands) | ​ | (loss)
​ | ​ | ​ | ​
Equity price risk |  | ​ |
10% increase in equity prices | ​ | $ | 811
10% decrease in equity prices | ​ |  | (811)
​ | ​ | ​ | ​
​
Fair value of financial assets and financial liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Financial |  | Fair |  | December 31, |  | December 31,
​ | ​ | Instrument | ​ | Value | ​ | 2022 | ​ | 2021
(in thousands) | ​ | Category(1) | ​ | Hierarchy | ​ | Fair Value | ​ | Fair Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Assets: |  |  |  |  |  |  |  |  |  |
Cash and equivalents |  | Category B |  |  |  | $ | 50,915 |  | $ | 63,998
Trade and other receivables |  | Category B |  |  |  |  | 4,143 |  |  | 3,656
Investments |  |  |  |  |  |  |  |  |  |
Equity instruments-shares |  | Category A |  | Level 1 |  |  | 8,022 |  |  | 14,349
Equity instruments-warrants |  | Category A |  | Level 2 |  |  | 87 |  |  | 229
Restricted cash and equivalents |  |  |  |  |  |  |  |  |  |
Elliot Lake reclamation trust fund |  | Category B |  |  |  |  | 3,133 |  |  | 2,866
Credit facility pledged assets |  | Category B |  |  |  |  | 7,972 |  |  | 9,000
Reclamation letter of credit collateral |  | Category B |  |  |  |  | — |  |  | 135
​ | ​ | ​ | ​ | ​ |  | $ | 74,272 |  | $ | 94,233
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Liabilities: |  |  |  |  | ​ |  |  | ​ |  |
Account payable and accrued liabilities |  | Category C |  |  | ​ |  | 10,299 | ​ |  | 8,590
Debt obligations |  | Category C |  |  | ​ |  | 576 | ​ |  | 508
Warrants on investment |  | Category A |  | Level 2 | ​ |  | — | ​ |  | 1,625
Share purchase warrants |  | Category A |  | Level 2 | ​ |  | — | ​ |  | 20,337
​ | ​ | ​ | ​ | ​ |  | $ | 10,875 |  | $ | 31,060
​
| (1) | Financial instrument designations are as follows: Category A=Financial assets and liabilities at fair value through profit and loss; Category B=Financial assets at amortized cost; and Category C=Financial liabilities at amortized cost.

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