XML 438 R95.htm IDEA: XBRL DOCUMENT v3.25.0.1
Quarterly Financial Data (Unaudited) (Details) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Operations                
Revenue $ 13,362,000 $ 9,258,000 $ 5,320,000 $ 30,394,000 $ 58,334,000 $ 22,148,000 $ 4,245,000  
Cost of goods sold 13,650,000 10,600,000 10,428,000 30,863,000 65,541,000 19,573,000 2,656,000  
Gross profit (loss) (288,000) (1,342,000) (5,108,000) (469,000) (7,207,000) 2,575,000 1,589,000  
Operating costs:                
Depreciation, amortization and accretion 958,000 792,000 783,000 836,000 3,369,000 5,696,000 736,000  
Mineral property expenditures 12,522,000 3,112,000 10,233,000 3,896,000 29,763,000 14,224,000 10,054,000  
General and administrative 4,871,000 9,973,000 5,953,000 6,259,000 27,056,000 19,914,000 12,378,000  
Other operating costs 1,448,000 1,628,000 894,000 818,000 4,788,000 3,464,000 4,332,000  
Loss from operations (20,087,000) (16,847,000) (22,971,000) (12,278,000) (72,183,000) (40,723,000) (25,911,000)  
Other expense 0 0 0 (17,000) (17,000) 0 (679,000)  
Interest expense (446,000) (445,000) (445,000) (399,000) (1,735,000) (3,503,000) 0  
Interest income 477,000 651,000 908,000 440,000 2,476,000 393,000 419,000  
Fair value gain/(loss) on marketable securities (4,000) 0 0 252,000 248,000 0 0  
Unrealized (loss) gain on marketable securities 980,000 (1,474,000) (1,396,000) (821,000) (2,711,000) 5,918,000 1,057,000  
Net loss for the period before taxes and non controlling interest (19,080,000) (18,115,000) (23,904,000) (12,823,000) (73,922,000) (26,078,000) (23,320,000)  
Income tax benefit 0 0 0 (5,929,000) (5,929,000) (467,000) (165,000)  
Net loss (19,080,000) (18,115,000) (23,904,000) (6,894,000) (67,993,000) (25,611,000) (23,155,000)  
Net loss attributable to noncontrolling interests (1,981,000) (1,980,000) (1,980,000) (660,000) (6,601,000) 0 0  
Net loss attributable to controlling interest $ (17,099,000) $ (16,135,000) $ (21,924,000) $ (6,234,000) $ (61,392,000) $ (25,611,000) $ (23,155,000)  
Basic loss per share (in dollars per share) $ (0.09) $ (0.09) $ (0.12) $ (0.04) $ (0.34) $ (0.18) $ (0.22)  
Diluted loss per share (in dollars per share) $ (0.09) $ (0.09) $ (0.12) $ (0.04) $ (0.34) $ (0.18) $ (0.22)  
3 month weighted average number of shares, basic (in shares) 185,943,689 185,184,856 183,237,488 173,486,569 181,982,829 144,043,709 105,529,292  
3 month weighted average number of shares, diluted (in shares) 185,943,689 185,184,856 183,237,488 173,486,569 181,982,829 144,043,709 105,529,292  
Current assets                
Cash and cash equivalents $ 39,701,000 $ 46,348,000 $ 55,750,000 $ 90,091,000 $ 39,701,000 $ 7,493,000    
Prepaid expenses and other current assets 2,700,000 1,688,000 7,359,000 3,430,000 2,700,000 931,000    
Marketable securities 24,046,000 20,565,000 16,025,000 17,594,000 24,046,000 16,886,000    
Inventory 20,967,000 27,408,000 26,756,000 10,784,000 20,967,000 9,000    
Total current assets 87,414,000 96,009,000 105,890,000 121,899,000 87,414,000 25,319,000    
Mineral rights and properties, net 271,922,000 273,961,000 274,490,000 274,490,000 271,922,000 274,490,000 $ 154,765,000  
Property, plant and equipment, net 24,017,000 18,837,000 17,863,000 16,277,000 24,017,000 14,970,000    
Intangible assets, net 471,000 493,000 494,000 501,000 471,000 514,000    
Restricted cash 7,751,000 7,751,000 7,705,000 7,680,000 7,751,000 7,680,000    
Noncurrent marketable securities 837,000 755,000 1,258,000 1,250,000 837,000 3,047,000    
Right of use assets - operating lease 310,000 378,000 423,000 403,000 310,000 459,000    
Total assets 392,722,000 398,184,000 408,123,000 422,500,000 392,722,000 326,567,000    
Current liabilities                
Note payable - related party 20,108,000 21,187,000 20,734,000 20,282,000 20,108,000      
Operating lease liabilities, current 130,000 195,000 193,000 177,000 130,000 178,000    
Total current liabilities 30,080,000 27,161,000 24,188,000 24,118,000 30,080,000 6,281,000    
Deferred tax liabilities 26,980,000 26,980,000 26,980,000 26,980,000 26,980,000 27,959,000    
Asset retirement obligations 16,918,000 11,332,000 11,113,000 10,962,000 16,918,000 10,828,000    
Operating lease liabilities, non-current 202,000 202,000 244,000 240,000 202,000 294,000    
Total liabilities 74,180,000 65,675,000 62,525,000 62,300,000 74,180,000 64,601,000    
Commitments and contingencies (Note 12)    
Stockholders’ equity                
Common stock 380,325,000 377,753,000 375,070,000 367,518,000 380,325,000 308,198,000    
Additional paid-in-capital 59,856,000 58,417,000 50,954,000 50,087,000 59,856,000 41,203,000    
Accumulated deficit (150,848,000) (134,321,000) (118,191,000) (95,892,000) (150,848,000) (89,456,000)    
Accumulated other comprehensive loss (3,597,000) (4,338,000) 274,000 (607,000) (3,597,000) (1,792,000)    
Total stockholders' equity 285,736,000 297,511,000 308,107,000 321,106,000 285,736,000 261,966,000    
Non-controlling interests 32,806,000 34,998,000 37,491,000 39,094,000 32,806,000 0    
Total equity 318,542,000 332,509,000 345,598,000 360,200,000 318,542,000 261,966,000 $ 195,577,000 $ 137,573,000
Total liabilities and stockholders' equity 392,722,000 398,184,000 408,123,000 422,500,000 392,722,000 326,567,000    
Nonrelated party                
Current liabilities                
Accounts payable and accrued liabilities 7,464,000 5,579,000 3,157,000 3,520,000 7,464,000 3,582,000    
Related party                
Current liabilities                
Accounts payable and accrued liabilities $ 2,378,000 $ 200,000 $ 104,000 $ 139,000 $ 2,378,000 2,521,000    
Note payable - related party           $ 0