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v3.25.1

Condensed Consolidated Interim Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2025 | Mar. 31, 2024
Operating Activities |  |
Net income | $ 5,617 | $ 599
Adjustments for non-cash items: |  |
Deferred income tax expense (recovery) | 1,207 | (82)
Depreciation and depletion | 872 | 857
Accretion of reclamation provision | 48 | 51
Gain on investments | (444) | (132)
Unrealized gain on derivatives | (405) | 0
Unrealized foreign exchange loss (gain) | 103 | (88)
Write down of equipment and materials and supplies inventory | 1 | 0
Share-based payments | 362 | 423
Total adjustments for non cash | 7,361 | 1,628
Net change in non-cash working capital items | (6,603) | 719
Cash provided by operating activities | 758 | 2,347
Financing Activities |  |
Shares and units issued for cash, net of issuance costs | 182 | 888
Proceeds from option and RSU exercises, net | 634 | 0
Lease liability payments | (396) | (452)
Equipment loan payments | (70) | (44)
Cash provided by (used in) financing activities | 350 | 392
Investing Activities |  |
Exploration and evaluation expenditures | (410) | (1,116)
Additions to plant, equipment and mining properties | (1,386) | (851)
Cash provided by (used in) investing activities | (1,796) | (1,967)
Change in cash | (688) | 772
Effect of exchange rate changes on cash | (2) | 14
Cash, beginning | 27,317 | 2,688
Cash, ending | $ 26,627 | $ 3,474

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