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Consolidated Statements of Cash Flow (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
OPERATING ACTIVITIES              
Net loss $ (6,389,000) $ (25,387,000) $ (18,340,000) $ (7,742,000) $ (40,611,000) $ (49,703,000)  
Adjustments to reconcile net loss to used in operating activities              
Amortization, depreciation and accretion         3,579,000 2,411,000  
Amortization of debt issuance costs         115,000 0  
Depletion         3,490,000 0  
Stock based compensation         2,106,000 3,331,000  
Inventory impairment charge 0   1,107,000   155,000 6,654,000  
Exploration costs related to mineral properties         8,655,000 7,653,000  
Unrealized loss on marketable securities (8,158,000)   1,474,000   (1,092,000) 3,691,000 $ 2,711,000
Realized gain on marketable securities (62,000)   0   (7,733,000) (252,000)  
Changes in operating assets and liabilities:              
Receivables, prepaids and deposits         6,676,000 (757,000)  
Inventories         9,774,000 (33,524,000)  
Accounts payable and accrued liabilities         295,000 2,003,000  
Asset retirement obligations         (117,000) (367,000)  
Deferred tax liability         (124,000) (5,685,000)  
Due to related parties         (23,095,000) 18,954,000  
Net cash used in operating activities         (37,927,000) (45,591,000)  
INVESTING ACTIVITIES              
Purchase of property, plant, and equipment         (14,214,000) (5,227,000)  
Purchase of intangible assets         (1,000,000) 0  
Exploration costs related to mineral properties         (8,655,000) (7,653,000)  
Purchase of marketable securities         (5,441,000) (6,050,000)  
Proceeds from sale of marketable securities         15,594,000 552,000  
Net cash used in investing activities         (13,716,000) (18,378,000)  
FINANCING ACTIVITIES              
Proceeds from issuance of convertible senior notes         115,000,000 0  
Payments of debt issuance costs         (5,800,000) 0  
Private placement proceeds         0 10,000,000  
Common stock issuance costs         0 (50,000)  
Proceeds from the At -the-Market ("ATM") sales         0 2,008,000  
Proceeds from exercise of warrants         236,000 23,919,000  
Proceeds from exercise of stock options         784,000 1,522,000  
Payment of capped call premiums         (11,549,000) 0  
Proceeds from sale of minority interest         0 60,000,000  
Contributions from non-controlling interest         5,625,000 5,369,000  
Net cash provided by financing activities         104,296,000 102,768,000  
Net increase in cash, cash equivalents and restricted cash         52,653,000 38,799,000  
Foreign exchange difference on cash, cash equivalents and restricted cash         216,000 128,000  
Cash, cash equivalents and restricted cash, beginning of year   $ 47,452,000   $ 15,173,000 47,452,000 15,173,000 15,173,000
Cash, cash equivalents and restricted cash, end of period $ 100,321,000   $ 54,100,000   100,321,000 54,100,000 $ 47,452,000
Non-cash activities:              
Property, plant, and equipment additions included in accounts payable and accrued liabilities         1,427,000 400,000  
Inventory distributions to non-controlling interest         4,244,000 0  
Conversion of promissory note, including equity portion, to shares         0 23,117,000  
Mineral property depletion costs capitalized into inventory during the period         $ 7,682,000 $ 0