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Other Expense, net

9 Months Ended

Sep. 30, 2025

Other Expense, net

Other Expense, net

20. Other Expense, net

Other expense, net, for the periods presented consisted of the following:


		For the three months ended September 30,						For the nine months ended September 30,
		2025			2024			2025			2024
					Restated						Restated
		(in thousands)						(in thousands)
Unrealized currency exchange loss ⁽¹⁾		$	363		$	889		$	1,334		$	2,220
Realized currency exchange loss (gain)			175			75			472			(82)
Realized and unrealized gain from gold and silver rounds, net			(28)			(19)			(61)			(35)
Realized and unrealized losses from sale of investments ⁽²⁾			1			1,723			1			1,723
Interest on streaming liabilities ⁽³⁾			4,222			3,457			12,059			9,612
Severance			-			277			459			953
Interest on note payable			170			-			181			-
Loss on loan payoff			479			-			479			-
Other expense (income)			1,955			(1,227)			2,028			(145)
Total		$	7,337		$	5,175		$	16,952		$	14,246

(1)

Gains and losses due to changes in fair value are non-cash in nature until such time that they are realized through cash transactions. For additional information regarding the Company’s fair value measurements and investments, please see Note 22—Fair Value Measurement in Item 1—Condensed Consolidated Interim Financial Statements and Notes (unaudited) for additional information.

(2)

In the first quarter of 2025, through its subsidiary, Aquila Resources USA Inc., the Company entered into a share purchase agreement with multiple purchasers to sell all of its interest in the Green Light Metals shares, for C$0.10 per share, for total net proceeds of C$1.2 million ($0.9 million), which was received on February 11, 2025. As of December 31, 2024, the fair value of the investment was $0.9 million. On September 23, 2024, all the common shares of Maritime were sold in a private placement transaction for C$0.034 per share to a related party, Dundee Corporation, for total proceeds of C$1.6 million (or $1.2 million). As of December 31, 2023, the fair value of the investment was $1.6 million.

(3)

Periodic interest expense is based on a fixed market rate of interest which is reviewed quarterly if there are any contractual amendments relating to the Osisko Stream Agreements. Please see Note 12— Gold and Silver Stream Agreements in Item 1—Condensed Consolidated Interim Financial Statements and Notes (unaudited) for additional information.