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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities    
Net loss $ (33,884,536) $ (36,449,199)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 254,978 302,078
Stock-based compensation expense 3,776,279 4,322,995
Interest expense 137,483 0
Deferred income tax benefit (85,332) (1,246,786)
Changes in current assets and liabilities:    
Prepaid expenses and other current assets 152,126 50,249
Accounts payable and accrued liabilities (1,726,305) 1,822,947
Other assets (103,100) (98,574)
Net cash used in operating activities (31,478,407) (31,296,290)
Investing activities    
Purchases of property and equipment (143,387) (1,054,320)
Purchases of mineral properties (430,197) (607,017)
Net cash used in investing activities (573,584) (1,661,337)
Financing activities    
Proceeds from sale of common stock through at-the market ("ATM") program, net of issuance costs 9,864,596 17,946,505
Net proceeds from Orion Equity Investment, net of issuance costs 5,705,926 16,820,227
Proceeds from sale of royalty interest 182,758 0
Proceeds from exercise of stock options 158,400 72,000
Proceeds from exercise of warrants 208 18,757
Withholding of employee tax payments on RSUs 0 (263,211)
Net cash provided by financing activities 15,911,888 34,594,278
Net change in cash and cash equivalents (16,140,103) 1,636,651
Cash and cash equivalents, beginning of year 25,548,373 23,911,722
Cash and cash equivalents, end of year 9,408,270 25,548,373
Supplemental cash flow information    
Common stock issued for purchase of mineral properties 3,001,246 0
Deferred ATM offering costs offset against additional paid-in capital (253,604) (176,250)
Income Taxes Paid $ (85,332) $ (29,457)