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SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2025

SEGMENT REPORTING

Schedule of segment assets

​

​	​	​	​	​	​	​
​	​	September 30,		​	December 31,
(thousands of dollars)	​	2025			2024
Assets:	​	​	​	​	​	​
Battery-grade graphite business segment assets	​	$	144,082	​	$	141,470
Corporate and other assets	​	​	13,652	​	​	4,887
Consolidated total assets	​	$	157,734	​	$	146,357
​	​	​	​	​	​	​
Expenditures for battery-grade graphite business segment assets	​	$	6,241	​	$	6,138

Schedule of segment profit or loss and significant segment expenses

​

​	​	​	​	​	​	​	​	​	​
Three months ended	​	​	​	​	​	​	​	​	​
​	​	September 30, 2025
(thousands of dollars)	​	Battery-grade Graphite Segment		​	Corporate and Other		​	Consolidated Statements of Operations
Other income (expense), net	​	$	22	​	$	(5,778)	​	$	(5,756)
Less:	​	​	​	​	​	​	​	​	​
Product development expenses	​	​	(370)	​	​	—	​	​	(370)
Exploration expenses	​	​	(2)	​	​	—	​	​	(2)
General and administrative expenses	​	​	(855)	​	​	(2,596)	​	​	(3,451)
Mineral property	​	​	(13)	​	​	—	​	​	(13)
Depreciation and amortization	​	​	(243)	​	​	(1)	​	​	(244)
Net loss	​	$	(1,461)	​	$	(8,375)	​	$	(9,836)
​	​	​	​	​	​	​	​	​	​
​	​	September 30, 2024
(thousands of dollars)	​	Battery-grade Graphite Segment		​	Corporate and Other		​	Consolidated Statements of Operations
Other (expense) income, net	​	$	(397)	​	$	44	​	$	(353)
Less:	​	​	​	​	​	​	​	​	​
Product development expenses	​	​	(254)	​	​	—	​	​	(254)
Exploration expenses	​	​	—	​	​	—	​	​	—
General and administrative expenses	​	​	(481)	​	​	(1,944)	​	​	(2,425)
Mineral property	​	​	(13)	​	​	—	​	​	(13)
Depreciation and amortization	​	​	(61)	​	​	(2)	​	​	(63)
Net loss	​	$	(1,206)	​	$	(1,902)	​	$	(3,108)
​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
Nine months ended	​	​	​	​	​	​	​	​	​
​	​	September 30, 2025
(thousands of dollars)	​	Battery-grade Graphite Segment		​	Corporate and Other		​	Consolidated Statements of Operations
Other income (expense), net	​	$	(296)	​	$	(5,795)	​	$	(6,091)
Less:	​	​	​	​	​	​	​	​	​
Product development expenses	​	​	(827)	​	​	—	​	​	(827)
Exploration expenses	​	​	(12)	​	​	—	​	​	(12)
General and administrative expenses	​	​	(1,912)	​	​	(6,966)	​	​	(8,878)
Mineral property	​	​	(23)	​	​	—	​	​	(23)
Depreciation and amortization	​	​	(547)	​	​	(3)	​	​	(550)
Net loss	​	$	(3,617)	​	$	(12,764)	​	$	(16,381)
​	​	​	​	​	​	​	​	​	​
​	​	September 30, 2024
(thousands of dollars)	​	Battery-grade Graphite Segment		​	Corporate and Other		​	Consolidated Statements of Operations
Other (expense) income, net	​	$	(1,469)	​	$	230	​	$	(1,239)
Less:	​	​	​	​	​	​	​	​	​
Product development expenses	​	​	(850)	​	​	—	​	​	(850)
Exploration expenses	​	​	(11)	​	​	—	​	​	(11)
General and administrative expenses	​	​	(1,099)	​	​	(6,420)	​	​	(7,519)
Mineral property	​	​	(19)	​	​	—	​	​	(19)
Depreciation and amortization	​	​	(183)	​	​	(4)	​	​	(187)
Net loss	​	$	(3,631)	​	$	(6,194)	​	$	(9,825)

​

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

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-Section 50
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- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
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