Exploration and Evaluation Assets

12 Months Ended

Dec. 31, 2024

Exploration And Evaluation Assets [Abstract]

12.

EXPLORATION AND EVALUATION ASSETS

Exploration and evaluation assets were as follows:


	Thacker Pass			Millennial Projects			Other Claims			Total
	$			$			$			$
Total exploration and evaluation assets
As at December 31, 2022		9,514			339,131			-			348,645
Transfers to PP&E		(9,514	)		-			-			(9,514	)
Acquisition of Arena Minerals		-			-			1,385			1,385
Additions		-			2,646			770			3,416
Write offs		-			(70	)		-			(70	)
Assets distributed to the shareholders		-			-			(770	)		(770	)
As at December 31, 2023		-			341,707			1,385			343,092
Additions		-			702			-			702
As at December 31, 2024		-			342,409			1,385			343,794

The Company has certain commitments for royalty and other payments to be made for Pastos Grandes as set out below. These amounts will only be payable if the Company continues to hold the subject claims in the future and the royalties will only be incurred if the Company starts production from the project.

12.

EXPLORATION AND EVALUATION ASSETS (continued)

Pastos Grandes:

•

1.5% royalty on the gross operating revenues from production from certain Pastos Grandes claims, payable to the original vendors of the project; and

•

royalties to a maximum of 3% over net-back income, payable to the Salta Province.