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v3.25.2

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended
--- | ---
Jun. 30, 2025 | Jun. 30, 2024
Operating Activities |  |
Net income | $ 8,481 | $ 1,839
Adjustments for non-cash items: |  |
Deferred income tax expense | 1,793 | 692
Depreciation and depletion | 1,796 | 1,692
Accretion of reclamation provision | 100 | 102
Gain on investments | (363) | (355)
Unrealized gain on derivatives | (1,914) | 0
Unrealized foreign exchange loss (gain) | 1,470 | (243)
Write down of equipment and materials and supplies inventory | 164 | 384
Other expenses | 421 | 0
Share-based payments | 1,682 | 1,071
Total adjustments for non cash | 13,630 | 5,182
Net change in non-cash working capital items | (4,522) | (1,757)
Cash provided by operating activities | 9,108 | 3,425
Financing Activities |  |
Shares issued for cash, net of issuance costs | 6,939 | 3,379
Proceeds from option exercises and RSU vesting, net | 757 | 59
Lease liability payments | (906) | (924)
Equipment loan payments | (155) | (85)
Cash provided by financing activities | 6,635 | 2,429
Investing Activities |  |
Exploration and evaluation expenditures | (451) | (1,534)
Additions to plant, equipment and mining properties | (5,306) | (1,731)
Cash used in investing activities | (5,757) | (3,265)
Change in cash | 9,986 | 2,589
Effect of exchange rate changes on cash | (24) | 34
Cash, beginning | 27,317 | 2,688
Cash, ending | $ 37,279 | $ 5,311

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