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Subsequent events
3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
Subsequent events
18. Subsequent event:
On April 27, 2026, the Company sold its interest in the Pinaya Gold-Copper Project to Panam Copper Corp., (“Panam Copper”), for $11.0 million in consideration, consisting of:
(i) $8.0 million in cash, of which $1.5 million was paid on closing, and the remainder is payable in installments of $1.5 million after six months, $2.5 million after one year and $2.5 million after eighteen months;
(ii) $3.0 million in Panam Copper shares, with a deemed value per share using the 10-day volume weighted average price immediately prior to the issuance date or financing price for the initial issuance, with $1.5 million issuable on the date of Panam Copper’s listing on a recognized exchange and $1.5 million issuable 12 months thereafter; and
(iii) the grant at closing of a one percent net smelter return royalty on all minerals produced from the Pinaya Gold-Copper Project. Panam Copper may repurchase 50% of the royalty for $1.0 million prior to the commencement of commercial production.
Subject to certain conditions, the Company will have the right to nominate one director of Panam Copper.
The disposal group met held for sale criteria as at March 31, 2026 however there was no impact to the condensed interim consolidated financial statements for the period ended March 31, 2026 as the net assets of the disposal group were zero.