Financial assets and liabilities

6 Months Ended

Jun. 30, 2024

Investments, All Other Investments [Abstract]

Financial assets and liabilities

Financial assets and liabilities

Fair value measurements

The Company’s financial assets and financial liabilities measured at fair value on a recurring basis are as follows:

As at June 30, 2024	Balance		Level 1		Level 2
Accounts receivable (subject to provisional pricing)	$	0.4	$	—	$	0.4
Conversion feature of convertible debt (refer to Note 11 (Convertible debt))	145.5		—		145.5
As at December 31, 2023	Balance		Level 1		Level 2
Accounts receivable (subject to provisional pricing)	$	0.6	$	—	$	0.6
Conversion feature of convertible debt (refer to Note 11 (Convertible debt))	0.4		—		0.4

Refer to Note 3 (Revenue – product sales and recycling services) above for additional details related to measurement of accounts receivable and the concentration of credit risk of accounts receivable. Certain non-financial assets such as property, plant and equipment, operating right-of-use assets, goodwill and intangible assets are also subject to non-recurring fair value measurements if they are deemed to be impaired. The impairment models used for non-financial assets depend on the type of asset. There were no material impairments of non-financial assets for the three and six months ended June 30, 2024 and 2023, respectively.

Financial assets and liabilities not measured at fair value

Current Receivables and Payables

Current receivables, prepaids and deposits are financial assets with carrying values that approximate fair value. Accounts payable (including the non-current portion) and other accrued expenses are financial liabilities with carrying values that approximate fair value. If measured at fair value in the financial statements, these financial instruments would be classified as Level 2 in the fair value hierarchy.