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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 52,403 $ 39,701
Accounts receivable 4,944 0
Prepaid expenses and other current assets 3,559 2,700
Marketable securities 43,591 24,046
Inventory, net 5,317 20,967
Total current assets 109,814 87,414
Mineral rights and properties, net 265,834 271,922
Property, plant and equipment, net 41,160 24,017
Intangible assets, net 1,465 471
Restricted cash 8,388 7,751
Marketable securities, non-current 0 837
Right of use assets - operating lease 3,083 310
Other long-term assets 678 0
Total assets 430,422 392,722
Current liabilities    
Note payable - related party 0 20,108
Operating lease liabilities, current 186 130
Total current liabilities 13,680 30,080
Deferred tax liabilities 26,384 26,980
Asset retirement obligations 18,915 16,918
Convertible senior notes 109,986 0
Operating lease liabilities, non-current 3,077 202
Total liabilities 172,042 74,180
Commitments and contingencies (Note 10)
Stockholders’ equity    
Common stock 187,354,424 and 186,114,948 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively 382,842 380,325
Additional paid-in-capital 56,733 59,856
Accumulated deficit (207,704) (150,848)
Accumulated other comprehensive loss (2,626) (3,597)
Total stockholders' equity 229,245 285,736
Non-controlling interests 29,135 32,806
Total equity 258,380 318,542
Total liabilities and stockholders' equity 430,422 392,722
Nonrelated party    
Current liabilities    
Accounts payable and accrued liabilities 12,434 7,464
Related party    
Current liabilities    
Accounts payable and accrued liabilities $ 1,060 $ 2,378