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Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Operating activities    
Net loss for the year $ (22,385,977) $ (16,515,389)
Accretion 4,184,390 445,190
Amortization and depreciation 1,679,471 380,338
Impairment charge 1,537,822
Foreign exchange (gain) loss 1,740,960 20,904
Stock option expense 4,538,747 5,744,656
Interest income (393,347) (406,132)
Loss on write-off of sales tax recoverable 91,289
Gain on divestment of mineral properties (10,091,565) (1,624,049)
Gain on change in asset retirement obligation estimate (221,185) 157,226
Gain on sale of uranium investment (2,575,500) (35,000)
Settlement of asset retirement obligation (291,448) (11,324)
Unrealized (gain) loss on marketable securities (5,917,835) (1,057,405)
Loss on investment in associates 586,900
Changes in non-cash working capital items:    
Receivables (10,145) 36,365
Prepaids and deposits 365,910 (752,293)
Raw materials (9,077)
Deposit - uranium investment   (3,000,000)
Restricted cash 46,888,809 (50,049,202)
Accounts payable and accrued liabilities 1,204,310 (3,656,511)
Due to related parties 2,079,221 434,902
Net cash operating activities 22,323,561 (69,209,535)
Investing activities    
Acquisition of intangible assets (55,150)
Acquisition of property, plant, and equipment (7,914,956) (979,501)
Acquisition of Alta Mesa (54,544,357)
Mineral property expenditures (10,700,027) (9,860,682)
Proceeds from divestment of mineral properties 3,836,240 48,480
Deferred acquisition costs (6,009,303)
Interest income received 393,347 406,132
Investment in uranium (16,572,500)
Proceeds received from sale of uranium investment 22,148,000 4,425,000
Net cash investing activities (63,354,253) (12,205,024)
Financing activities    
Private placement proceeds 25,561,689 23,057,411
Share issue costs (4,631,296) (1,473,875)
Share subscriptions received 51,558,624
Proceeds from the At -the-Market (ATM) sales 49,444,256
Proceeds from exercise of warrants 14,969,074 2,452,227
Proceeds from exercise of stock options 557,465 1,177,093
Repayments on convertible note (40,000,000)
Deferred financing costs (1,717,268)
Lease payments (177,432) (104,815)
Net cash financing activities 45,723,756 74,949,397
Effect of foreign exchange on cash 288,348 (211,309)
Change in cash 4,981,412 (6,676,471)
Cash, beginning of year 2,512,012 9,188,483
Cash, end of year $ 7,493,424 $ 2,512,012