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FINANCIAL RISK MANAGEMENT (Tables)

6 Months Ended

Jun. 30, 2026

FINANCIAL RISK MANAGEMENT

Schedule of impact on pre-tax loss of a 10% change in the USD:CAD exchange rate on financial assets and liabilities denominated in CAD

The following table shows the impact on pre-tax loss of a 10% change in the USD:CAD exchange rate on financial assets and liabilities denominated in CAD, as of June 30, 2026, with all other variables held constant:


		Impact of currency rate change on pre-tax loss
		10% increase			10% decrease
Cash and cash equivalents		$	9,871		$	(9,871)
Receivables and other			1,885			(1,885)
Marketable securities			1,193			(1,193)
Accounts payable and accrued liabilities			(4,319)			4,319

Schedule of carrying amount of financial assets represents the maximum credit exposure


		June 30,			December 31,
		2026			2025
Cash and cash equivalents		$	373,080		$	573,159
Short-term investments			1,519,653			2,571,468
		$	1,892,733		$	3,144,627

Schedule of contractual undiscounted cash flow requirements for contractual obligations

Contractual undiscounted cash flow requirements for contractual obligations as at June 30, 2026 are as follows:


		Carrying			Contractual			Due within			Due within			Due within
		amount			cash flows			1 year			2 years			3 years
Accounts payable and accrued liabilities		$	108,281		$	108,281		$	108,281		$	—		$	—
		$	108,281		$	108,281		$	108,281		$	—		$	—

Schedule of financial assets and liabilities by level within the fair value hierarchy


As at June 30, 2026					Fair value
		Carrying
		value			Level 1			Level 2			Level 3
Financial assets
Marketable securities		$	11,932		$	11,932		$	—		$	—
		$	11,932		$	11,932		$	—		$	—


As at December 31, 2025					Fair value
			Carrying
		value			Level 1			Level 2			Level 3
Financial assets
Marketable securities		$	22,138		$	22,138		$	—		$	—
		$	22,138		$	22,138		$	—		$	—