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CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
$ in Thousands
 9 Months Ended
Sep. 30, 2025
USD ($)
Cash flows from operating activities:  
Net loss $ (24,460)
Adjustments to reconcile net loss to net cash used in operating activities:  
Deferred income tax expense 1,205
Depreciation and amortization 8,423
Stock-based compensation 1,198
Interest on streaming liabilities 12,059
Other operating adjustments, net 2,927
Changes in operating assets and liabilities:  
Accounts receivable (10,755)
Inventories (536)
Prepaid expenses and other current assets 879
Other non-current assets (260)
Accounts payable and other accrued liabilities 2,440
Cash settled liability awards (33)
Mining royalty and income taxes payable, net 4,453
Net cash used in operating activities (2,460)
Cash flows from investing activities:  
Capital expenditures (12,186)
Proceeds from the sale of investment in Green Light Metals 854
Net cash used in investing activities (11,332)
Cash flows from financing activities:  
Net proceeds from note payable 6,114
Proceeds from ATM Program sales, net of issuance costs 8,640
Net proceeds from the Registered Direct Offerings 7,495
Other financing activities (138)
Net cash provided by financing activities 22,111
Effect of exchange rate changes on cash and cash equivalents (150)
Net increase (decrease) in cash and cash equivalents 8,169
Cash and cash equivalents at beginning of period 1,628
Cash and cash equivalents at end of period 9,797
Supplemental Cash Flow Information  
Income and mining taxes paid 71
Non-cash investing or financing activities:  
Value of common shares issued for share based compensation redemption 161
Balance of capital expenditures in accounts payable 1,226
Balance of equipment financing 457
Value of common shares issued to extinguish term loan $ 6,397