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Equity
3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Equity
9. Equity:
(a) Common stock transactions:
As at December 31, 2025, the Company had 11.6 million warrants outstanding, exercisable to purchase one share of Ivanhoe Electric stock at $7.00 per share. In January and February 2026, all of the warrants were exercised for proceeds of $81.5 million.
(b) Stock-based compensation:
Stock-based payment compensation was allocated to operations as follows:
Three Months Ended March 31,
20262025
General and administrative expenses$2,107 $2,560 
Exploration expenses475 413 
$2,582 $2,973 
(i) Stock-settled restricted stock units ("RSU’s"):
On March 6, 2026, the Company granted 454,112 stock settled RSU's to certain officers and employees of the Company. The RSU’s vest in three equal tranches beginning one year from the grant date. The fair value of the stock-settled RSU’s is amortized over the vesting period. The total grant date fair value of these RSU's was $6.0 million based on a grant date share price of $13.13 per share.
(ii) Performance share units ("PSU's"):
On March 6, 2026, the Company granted PSU's to certain officers and employees of the Company. The PSU's vest on December 31, 2028, with the number of units to vest determined by Ivanhoe Electric’s share price performance against constituents from a Base Metals Index. The number of units to vest ranges between zero times to two times the target number of PSU's. The total target number of PSU's is 405,360, which is one times the target. The grant date fair value of these PSU's was $7.1 million.
Monte Carlo valuation methodology was used to determine the fair value of the PSU's, which required the input of the following assumptions.
Grant date: March 6, 2026
Expected volatility69.0 %
Expected life of PSU's (in years)2.8
USA risk-free interest rate3.4 %
Canada risk-free interest rate2.6 %
Weighted average grant-date fair value (per unit)$17.56 
Expected volatility is based on the historical volatility of the Company's share price over a term commensurate with the remaining life of the PSU's. The USA risk-free interest rate was based on the yield observed on the US Dollar treasury curve as at the grant date, while the Canadian risk-free rate was based on the yield observed on the Canadian dollar government bond curve as at the grant date.