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Financial Instruments and Financial Risk Management (Tables)

3 Months Ended

Mar. 31, 2025

Financial Instruments and Financial Risk Management

Schedule of Fair Value Measurement by Levels of Financial Assets

The following tables set forth the Company’s financial assets measured at fair value by level within the fair value hierarchy for the periods indicated (in thousands):


March 31, 2025		Level 1				Level 2				Level 3				Total
Financial asset – FID(1)		$	—			$	—			$	48,879			$	48,879
Investment in Aqualung			—				—				5,350				5,350

(1)

Includes $28.8 million and $20.1 million related to SWA Lithium and Texas Lithium, respectively.


December 31, 2024		Level 1				Level 2				Level 3				Total
Financial asset – FID(1)		$	—			$	—			$	48,138			$	48,138
Investment in Aqualung			—				—				2,335				2,335

(1)

Includes $28.4 million and $19.7 million related to SWA Lithium and Texas Lithium, respectively.

Schedule of Assets and Liabilities Exposed to Currency Risk


		March 31, 2025				December 31, 2024
Cash		$	11,240			$	8,057
Accounts payable			9				—