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Note 22 - Segmented Information

12 Months Ended

Dec. 31, 2024

Disclosure of operating segments [text block]

22.

Segmented Information

The Company’s Chief Operating Decision Maker (“CODM”) is its Chief Executive Officer. The CODM reviews the results of Company’s refinery business and exploration and evaluation activities as discrete business units, separate from the rest of the Company’s activities which are reviewed on an aggregate basis.

The Company’s exploration and evaluation activities are located in Idaho, USA, with its head office function in Canada. All of the Company’s capital assets, including property and equipment, and exploration and evaluation assets are located in Canada and USA, respectively.

(a)

Segmented operating results for the years ended December 31, 2024, 2023 and 2022:

			Exploration and
For the year ended December 31, 2024	Refinery		Evaluation²		Corporate and Other²			Total
Operating expenses
Consulting and professional fees	$	270	$	—	$	3,512		$	3,782
Exploration and evaluation expenditures		—		442		—			442
General and administrative and travel		804		—		2,098			2,902
Investor relations and marketing		—		—		811			811
Salaries and benefits		1,547		—		2,771			4,318
Share-based payments		—		—		1,739			1,739
Operating loss	$	2,621	$	442	$	10,931		$	13,994
Unrealized loss on marketable securities		—		—		41			41
Loss on financial derivative liability - Convertible Notes		—		—		(4,493	)		(4,493	)
Changes in US Warrants		—		—		7			7
Other non-operating expenses		—		—		(11,008	)		(11,008	)
Loss before taxes	$	2,621	$	442	$	26,384		$	29,447

				Exploration and
For the year ended December 31, 2023	Refinery			Evaluation²		Corporate and Other²			Total
Operating expenses
Consulting and professional fees	$	69		$	78	$	4,512		$	4,659
Exploration and evaluation expenditures		—			700		—			700
General and administrative and travel		156			3		2,236			2,395
Investor relations and marketing		—			—		633			633
Salaries and benefits		1,783			—		1,992			3,775
Share-based payments		—			—		1,821			1,821
Operating loss	$	2,008		$	781	$	11,194		$	13,983
Unrealized loss on marketable securities		—			—		(253	)		(253	)
Gain on financial derivative liability - Convertible Notes		—			—		6,683			6,683
Changes in US Warrants		—			—		1,243			1,243
Other non-operating expenses		—			—		(6,472	)		(6,472	)
Impairment		(51,884	)		—		—			(51,884	)
Loss before taxes	$	53,892		$	781	$	9,993		$	64,666

				Exploration and			Corporate and
For the year ended December 31, 2022 (Restated)	Refinery			Evaluation²			Other ²			Total
Operating expenses
Consulting and professional fees	$	47		$	3		$	2,679		$	2,729
Exploration and evaluation expenditures		—			3,416			12			3,428
General and administrative and travel		138			10			1,777			1,925
Investor relations and marketing		—			—			1,000			1,000
Refinery, engineering and metallurgical studies		2,349			—			—			2,349
Refinery, permitting and environmental expenses		128			—			—			128
Salaries and benefits		655			—			3,258			3,913
Share-based payments		—			—			1,282			1,282
Operating loss	$	3,317		$	3,429		$	10,008		$	16,754
Unrealized loss on marketable securities		—			—			(589	)		(589	)
Gain on financial derivative liability - Convertible Notes		—			—			27,686			27,686
Changes in US Warrants		—			—			1,531			1,531
Other non-operating income		—			—			677			677
(Loss) income before taxes	$	(3,317	)	$	(3,429	)	$	19,297		$	12,551

(b) Segmented assets and liabilities for the years ended December 31, 2024, 2023 and 2022:

	Total Assets						Total Liabilities
As at December 31,	2024		2023		2022 ²		2024		2023		2022 ²
Refinery	$	52,434	$	59,701	$	91,316	$	3,707	$	8,935	$	17,723
Exploration and Evaluation ¹		93,276		85,741		87,765		87		75		120
Corporate and Other		5,737		3,250		8,443		83,335		56,384		43,172
	$	151,447	$	148,692	$	187,524	$	87,129	$	65,394	$	61,015

¹ Total non-current assets comprising of exploration and evaluation assets in the amount of $93,200 ( December 31, 2023 - $85,634 and December 31, 2021 - $87,765) are located in Idaho, USA. All other asses are located in Canada.

² The Company has reclassified the Exploration and Evaluation assets, liabilities, and results from the Corporate and Other category and comparatives have been updated to reflect this change.