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Fair Value Measurement (Tables)
9 Months Ended
Sep. 30, 2025
Fair Value Measurement  
Summary of assets and liabilities measured at fair value by level within fair value hierarchy

    

As of

As of

    

September 30, 

December 31,

Input Hierarchy Level

2025

    

2024

(in thousands)

Cash and cash equivalents

$

9,797

$

1,628

Level 1

Accounts receivable, net

$

12,939

$

2,184

Level 2

Investment in equity securities-Green Light Metals

$

-

$

852

Level 3

Summary of gains and losses related to changes in fair value of embedded derivates in accounts receivable

For the three months ended September 30, 

For the nine months ended September 30, 

Statements of Operations Classification

    

2025

    

2024

    

2025

    

2024

    

Note

(in thousands)

Realized and unrealized derivative gain (loss), net

17

$

278

$

(54)

$

398

$

1,093

Sales, net

Summary of realized and unrealized gain losses on derivatives

The following tables summarize the Company’s realized/unrealized derivatives for the periods presented (in thousands):

    

Gold

    

Silver

    

Copper

    

Lead

    

Zinc

    

Total

For the three months ended September 30, 2025

Realized gain (loss)

$

61

$

10

$

(10)

$

(5)

$

(36)

$

20

Unrealized gain

37

164

11

-

46

258

Total realized/unrealized derivatives, net

$

98

$

174

$

1

$

(5)

$

10

$

278

    

Gold

Silver

Copper

Lead

Zinc

Total

For the three months ended September 30, 2024

Realized gain (loss)

$

57

$

130

$

(48)

$

46

$

160

$

345

Unrealized (loss) gain

(6)

(215)

34

(68)

(144)

(399)

Total realized/unrealized derivatives, net

$

51

$

(85)

$

(14)

$

(22)

$

16

$

(54)

Gold

Silver

Copper

Lead

Zinc

Total

For the nine months ended September 30, 2025

Realized gain (loss)

$

145

$

70

$

(1)

$

(16)

$

(122)

$

76

Unrealized gain

93

148

16

22

43

322

Total realized/unrealized derivatives, net

$

238

$

218

$

15

$

6

$

(79)

$

398

Gold

Silver

Copper

Lead

Zinc

Total

For the nine months ended September 30, 2024

Realized gain

$

443

$

415

$

79

$

39

$

358

$

1,334

Unrealized (loss) gain

(42)

(83)

(13)

6

(109)

(241)

Total realized/unrealized derivatives, net

$

401

$

332

$

66

$

45

$

249

$

1,093