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Share Capital (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure Of Share Capital, Reserves And Other Equity Interests [Abstract] |
Schedule of Share Purchase Warrants Liability Classified | The following table summarizes the change in the number of issued and outstanding share purchase warrants and the associated warrant liabilities during the period ended December 31, 2024:
| Units | Amount
Listed Warrants – exercise price C$2.21, exercisable until Apr 30, 2024 |  |
As at December 31, 2022 | 10,064,255 | $ | 9,667 |
Exercised | (763,103) | (924) |
Fair value adjustment (Note 20) | — | 6,329 |
Balance at December 31, 2023 | 9,301,152 | $ | 15,072 |
Exercised | (8,546,249) | (15,200) |
Fair value adjustment (Note 20) | — | 128 |
Expired | (754,903) | —
Balance at December 31, 2024 | — | $ | — |
Aris Unlisted Warrants(¹) – exercise price C$6.00, exercisable until Dec 19, 2024 |  |
Balance at December 31, 2022 | 1,650,000 | 588
Fair value adjustment (Note 20) | — | (35) |
Balance at December 31, 2023 | 1,650,000 | $ | 553 |
Exercised | (203,750) | (87) |
Fair value adjustment (Note 20) | — | 209 |
Expired | (1,446,250) | (675) |
Balance at December 31, 2024 | — | $ | — |
Aris Listed Warrants(¹) – exercise price C$5.50, exercisable until Jul 29, 2025 |  |
Balance at December 31, 2022 | 29,084,377 | 11,173
Exercised | (25,000) | (21) |
Fair value adjustment (Note 20) | — | (171) |
Balance at December 31, 2023 | 29,059,377 | $ | 10,981 |
Exercised | (2,700) | (2) |
Fair value adjustment (Note 20) | — | (2,093) |
Balance at December 31, 2024 | 29,056,677 | $ | 8,886 |
Total share purchase warrant liability at December 31, 2023 |  | $ | 26,606 |
Total share purchase warrant liability at December 31, 2024 |  | $ | 8,886 |
(1)Number of replacement warrants and exercise price have been adjusted by the share Exchange Ratio of 0.5.
Schedule of Equity Classified Warrants | The following table summarizes the change in the number of issued and outstanding equity classified share purchase warrants during the periods ending December 31, 2024 and December 31, 2023:
| Units | Common shares issuable
As at December 31, 2022 | 7,224,965 |  | 5,019,905 |
Exercised (1) | (281,500) |  | (195,586) |
Expired | (2,795,090) |  | (1,942,029) |
As at December 31, 2023 | 4,148,375 |  | 2,882,290 |
Exercised (2) | (3,915,079) |  | (2,771,550) |
Expired | (233,296) |  | (110,740) |
Balance at December 31, 2024 | — | —
(1)The exercise price per Gold X Warrant exercised averaged C$2.14. (2)The exercise price per Gold X warrant exercised averaged C$3.57.
Schedule of Change in Stock Options Outstanding | A summary of the change in the stock options outstanding during the periods ended December 31, 2024 and December 31, 2023 is as follows:
| Options outstanding | Weighted average exercise price (C$)
Balance at December 31, 2022 | 6,713,506 | $ | 4.71 |
Options granted | 1,778,931 | 3.99 |
Exercised (1) | (528,241) | 3.27 |
Expired or cancelled | (683,076) | 5.11 |
Balance at December 31, 2023 | 7,281,120 | $ | 4.57 |
Options granted | 2,875,700 | 4.22 |
Exercised (2) | (2,779,903) | 4.03 |
Expired or cancelled | (821,318) | 5.39 |
Balance at December 31, 2024 | 6,555,599 | $ | 4.55 |
(1)The weighted average share price at the date stock options were exercised was C$4.10. (2)The weighted average share price at the date stock options were exercised was C$5.47.
Schedule of Assumptions of Stock Options | A summary of the inputs used in the determination of the fair values of the stock options granted in the periods ended December 31, 2024 and December 31, 2023, using the Black-Scholes option pricing model, is as follows:
| 12-Jan-2023 | 12-May-2023 | 2-Oct-2023 | 31-Jan-2024 | 1-Jul-2024 | 14-Nov-2024
Total options issued | 1,691,964 | 26,815 | 60,152 | 2,525,561 | 343,443 | 6,696
Market price of shares at grant date | $4.03 | $3.40 | $3.09 | $4.09 | $5.17 | $5.59
Exercise price | $4.03 | $3.40 | $3.09 | $4.09 | $5.17 | $5.59
Dividends expected | Nil | Nil | Nil | Nil | Nil | Nil
Expected volatility | 58.36 | % | 55.47 | % | 46.95 | % | 44.42 | % | 45.75 | % | 47.36 | %
Risk-free interest rate | 3.67 | % | 3.50 | % | 4.64 | % | 3.82% | 3.83% | 3.14 | %
Expected life of options | 3.0 years | 3.0 years | 3.0 years | 3.0 years | 3.0 years | 3.0 years
Vesting terms | 2 years | (1) | 2 years | (1) | 2 years | (1) | 2 years | (1) | 2 years | (1) | 2 years | (1)
(1)50% of the options vest one year after issue date, the remaining 50% vest two years after issue date.
Schedule of Stock Options Outstanding | The table below summarizes information about the stock options outstanding and the common shares issuable as at December 31, 2024:
Expiry date | Outstanding | Vested stock options | Remaining contractual life in years | Exercise price (C$/share)
01-Mar-25 | 632,500 | 632,500 | 0.17 | 4.00 |
23-Mar-25 | 324,815 | 324,815 | 0.23 | 3.80 |
01-Apr-25 | 135,000 | 135,000 | 0.25 | 4.05 |
26-Jun-25 | 5,000 | 5,000 | 0.49 | 5.00 |
02-Jul-25 | 50,000 | 50,000 | 0.50 | 6.88 |
12-Jan-26 | 1,161,491 | 534,925 | 1.04 | 4.03 |
01-Apr-26 | 703,000 | 703,000 | 1.25 | 6.04 |
12-May-26 | 13,408 | - | 1.37 | 3.40 |
02-Oct-26 | 60,152 | 30,076 | 1.75 | 3.09 |
26-Jan-27 | 90,000 | 90,000 | 2.07 | 5.45 |
31-Jan-27 | 2,306,094 | — | 2.09 | 4.09 |
01-Apr-27 | 724,000 | 724,000 | 2.25 | 5.84 |
01-Jul-27 | 343,443 | — | 2.50 | 5.17 |
14-Nov-27 | 6,696 | — | 2.87 | 5.59 |
Balance at December 31, 2024 | 6,555,599 | 3,229,316 | 1.52 | $ | 4.55 |
Schedule of DSU and PSU Liability | A summary of changes to the DSU liability, included in accounts payable and accrued liabilities, during the period ended December 31, 2024 and the year ended December 31, 2023 is as follows:
| Units | Amount
Balance at December 31, 2022 | 333,818 | $ | 826 |
Granted and vested during the period | 241,223 | 649 |
Change in fair value | — | 428 |
Balance at December 31, 2023 | 575,041 | $ | 1,903 |
Granted and vested during the period | 167,571 | 631 |
Paid | (259,691) | (956) |
Change in fair value | — | 114 |
Balance at December 31, 2024 | 482,921 | $ | 1,692 |
A summary of changes to the PSU liability during the period ended December 31, 2024 and the year ended December 31, 2023 is as follows:
| Units | Amount
Balance at December 31, 2022 | 706,286 | $ | 292 |
Unvested PSUs recognized in the period | 796,758 | 1,178 |
Vested PSUs recognized in the period | — | 29 |
Paid | (30,325) | (47) |
Change in fair value | — | 1,352 |
Balance at December 31, 2023 | 1,472,719 | $ | 2,804 |
Unvested PSUs recognized in the period | 1,035,489 | 1,861 |
Expired/cancelled | (190,888) | — |
Paid | (489,098) | (1,289) |
Change in fair value | — | 374 |
Balance at December 31, 2024 | 1,828,222 | $ | 3,750 |
Less: current portion | — | (1,520) |
Non-current portion as at December 31, 2024 |  | $ | 2,230 |
Schedule of Share-based Compensation Expense |
| Year-ended December 31,
| 2024 | 2023
Stock-option expense | $ | 2,285 |  | $ | 1,475 |
DSU expense | 745 |  | 1,077 |
PSU expense | 2,235 |  | 2,559 |
Total | $ | 5,265 |  | $ | 5,111 |
Schedule of Earnings (Loss) per Share |
| Year-ended December 31, 2024 | Year-ended December 31, 2023
| Weighted average shares outstanding | Net earnings (loss) attributable to owners | Net earnings (loss) per share | Weighted average shares outstanding | Net earnings (loss) attributable to owners | Net earnings (loss) per share
Basic EPS | 157,727,394 | $ | 24,582 |  | $ | 0.16 |  | 136,735,317 | $ | 11,419 |  | $ | 0.08 |
Effect of dilutive stock-options | 487,022 | — |  | 5,717 | — |
Effect of dilutive warrants | 476,863 | (2,093) |  | 321,471 | — |
Diluted EPS | 158,691,279 | $ | 22,489 |  | $ | 0.14 |  | 137,062,505 | $ | 11,419 |  | $ | 0.08 |
Schedule of Items Excluded from EPS | The following table lists the number of warrants, stock options and Convertible Debenture which were excluded from the computation of diluted earnings per share. Instruments were excluded because either the instruments were not vested, the exercise prices exceeded the average market value of the common shares or the impact of including the in the money securities were anti-dilutive to EPS.
| Year-ended December 31,
| 2024 | 2023
Stock options | 1,477,000 | 6,893,305
Convertible Debenture | — | 3,789,474
Warrants | — | 43,224,654

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