Capital Management and Financial Risk (Tables)

12 Months Ended

Dec. 31, 2024

Capital Management And Financial Risk [Line Item]



	At December 31		At December 31
(in thousands)	2024		2023

Net cash and investments:
Cash and cash equivalents	$	108,518	$	131,054
Equity instrument investments		8,047		10,517
Investments-uranium		231,088		276,815
Investments-convertible debentures		13,000		15,565
Debt obligations-current		(375)		(213)
Net cash and investments	$	360,278	$	433,738

Credit risk



	At December 31		At December 31
(in thousands)	2024		2023

Cash and cash equivalents	$	108,518	$	131,054
Trade and other receivables		3,075		1,913
Restricted cash and investments		11,624		11,231
Investments-convertible debentures		13,000		15,565
	$	136,217	$	159,763

Maturities of financial liabilities



	Within 1		1 to 5		More than
(in thousands)	Year		Years		5 years

Accounts payable and accrued liabilities (note 9)	$	21,333		—		—
Debt obligations (note 12)		438		1,567		1,343
	$	21,771		1,567		1,343

Currency risk



	Dec. 31'2024	Sensitivity
	Foreign	Foreign	Change in
	Exchange	Exchange	net income
(in thousands except foreign exchange rates)	Rate	Rate	(loss)

Currency risk
CAD weakens	1.4389	1.5828	$	25,762
CAD strengthens	1.4389	1.2950	$	(25,762)

Price risk



Absolute change	At December 31,2024		10% increase	10% decrease

Equity price of F3	$	0.26	0.28	0.23
Convertible debentures fair value (in thousands)	$	13,000	13,300	12,600

Fair value of financial assets and financial liabilities



	Financial	Fair	December 31,		December 31,
	Instrument	Value	2024		2023
(in thousands)	Category⁽¹⁾	Hierarchy	Fair Value		Fair Value

Financial Assets:
Cash and equivalents	Category B		$	108,518	$	131,054
Trade and other receivables	Category B			3,075		1,913
Investments
Equity instruments-shares	Category A	Level 1		7,767		10,390
Equity instruments-warrants	Category A	Level 2		280		127
Convertible Debentures	Category A	Level 3		13,000		15,565
Restricted cash and equivalents
Elliot Lake reclamation trust fund	Category B			3,652		3,259
Credit facility pledged assets	Category B			7,972		7,972
			$	144,264	$	170,280

Financial Liabilities:
Account payable and accrued liabilities	Category C			21,333		10,822
Debt obligations	Category C			2,414		417
			$	23,747	$	11,239

(1)

Financial instrument designations are as follows: Category A=Financial assets and liabilities at fair value through profit and loss; Category B=Financial assets at amortized cost; and Category C=Financial liabilities at amortized cost.

Interest rate risk

Capital Management And Financial Risk [Line Item]

Sensitivity analysis



Absolute change	Base			1% increase		1% decrease

Credit spread		19	%	20	%	18	%
Convertible debentures fair value (in thousands)	$	13,000		12,800		13,300