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SHARE CAPITAL AND SHAREBASED PAYMENTS (Tables)
12 Months Ended
Dec. 31, 2025
SHARE CAPITAL AND SHARE BASED PAYMENTS  
Schedule of continuity of stock options

 

 

Underlying

Shares

 

 

Weighted Average Exercise Price (C$)

 

Stock options outstanding, January 1, 2024

 

 

6,666,000

 

 

$1.27

 

Granted

 

 

2,500,000

 

 

$0.78

 

Exercised

 

 

(1,301,000)

 

$1.04

 

Cancelled / Forfeited

 

 

(190,000)

 

$1.26

 

Stock options outstanding, December 31, 2024

 

 

7,675,000

 

 

$1.15

 

Granted

 

 

2,547,000

 

 

$2.24

 

Exercised

 

 

(4,251,000)

 

$1.32

 

Expired

 

 

(100,000)

 

$1.64

 

Stock options outstanding, December 31, 2025

 

 

5,871,000

 

 

$1.50

 

Stock options exercisable, December 31, 2025

 

 

5,196,750

 

 

$1.38

 

Schedule of stock options outsanding and exercisable

 

 

 

 

Outstanding

 

 

Exercisable

 

Expiry Date

 

Price (C$)

 

 

Number of Options

 

 

Weighted Average Remaining

Contractual Life (Years)

 

 

Number of Options

 

 

Weighted Average Remaining Contractual Life

(Years)

 

March 25, 2027

 

$1.20

 

 

 

262,500

 

 

 

1.23

 

 

 

262,500

 

 

 

1.23

 

March 29, 2028

 

$1.12

 

 

 

1,560,000

 

 

 

2.24

 

 

 

1,560,000

 

 

 

2.24

 

March 25, 2029

 

$0.78

 

 

 

1,624,000

 

 

 

3.23

 

 

 

1,624,000

 

 

 

3.23

 

April 9, 2030

 

$2.11

 

 

 

2,274,500

 

 

 

4.27

 

 

 

1,675,250

 

 

 

4.27

 

May 27, 2030

 

$4.38

 

 

 

150,000

 

 

 

4.41

 

 

 

75,000

 

 

 

4.41

 

 

 

 

 

 

 

 

5,871,000

 

 

 

3.31

 

 

 

5,196,750

 

 

 

3.19

 

Schedule of fair value of black-scholes model

 

 

December 31,

2025

 

 

December 31,

2024

 

Weighted average assumptions:

 

 

 

 

 

 

Risk-free interest rate

 

 

2.80%

 

 

3.51%

Expected dividend yield

 

 

0%

 

 

0%

Expected life (years)

 

 

5

 

 

 

5

 

Expected stock price volatility

 

 

60.28%

 

 

60.73%

Expected forfeiture rate

 

 

13%

 

 

15%

Weighted average fair value

 

C$1.06

 

 

C$0.43

 

Schedule of continuity restricted share unit

 

 

Underlying

Shares

 

 

Weighted Average

Price (C$)

 

RSUs outstanding, January 1, 2024

 

 

2,994,709

 

 

$1.03

 

Granted

 

 

1,881,000

 

 

$1.02

 

Exercised

 

 

(1,197,709)

 

$1.15

 

Cancelled / Forfeited

 

 

(137,132)

 

$1.08

 

RSUs outstanding, December 31, 2024

 

 

3,540,868

 

 

$1.08

 

Granted

 

 

1,547,715

 

 

$2.50

 

Exercised

 

 

(1,308,296)

 

$1.10

 

Cancelled / Forfeited

 

 

(443,572)

 

$1.11

 

RSUs outstanding, December 31, 2025

 

 

3,336,715

 

 

$1.72

 

Schedule of summarizes information about the RSUs outstanding

Issuance Date

 

Price (C$)

 

 

Number of RSUs Outstanding

 

March 29, 2023

 

$1.12

 

 

 

560,000

 

July 10, 2023

 

$0.94

 

 

 

25,000

 

April 1, 2024

 

$1.02

 

 

 

1,204,000

 

April 9, 2025

 

$2.41

 

 

 

1,476,000

 

May 27, 2025

 

$4.38

 

 

 

71,715

 

 

 

 

 

 

 

 

3,336,715

 

Schedule of basic earnings per share and diluted earnings per share

 

 

2025

 

 

2024

 

Net income for the period

 

$26,643

 

 

$8,100

 

Basic weighted average number of shares outstanding

 

 

147,721,818

 

 

 

134,599,532

 

Effect of dilutive share options, warrants, and RSUs (‘000)

 

 

10,089,458

 

 

 

6,732,332

 

Diluted weighted average number of shares outstanding

 

 

157,811,276

 

 

 

141,331,864

 

Basic income per share

 

$0.18

 

 

$0.06

 

Diluted income per share

 

$0.17

 

 

$0.06