XML 22 R5.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Sep. 30, 2022
Operating activities        
Net loss for the year/period $ (2,204) $ (3,411) $ (26,756) $ (17,346)
Items not involving cash:        
Depreciation 29 79 70 72
Depletion 216 3,204 943 1,756
Finance costs 285 8,043 1,839 633
Other (income)/expense 13 (81) (70) (545)
Share-based compensation 1,078 2,338 2,806 3,146
Change in fair value of short-term investments (1,060) (38) 264 569
Change in fair value of derivative liabilities (278) 0 (242) (4,588)
Change in fair value of embedded derivative   (612) (30)  
(Gain)/loss on loan modification   (310) 249 (316)
Change in fair value of gold-linked loan   (1,681) (172)  
Impairments of royalties     22,379 3,821
Share of (gain)/loss in associate (1) 64 (172) 296
Dilution gain in associate   (9) (12) (100)
Deferred tax recovery (435) (6,480) (6,183) (129)
Unrealized foreign exchange (gain)/loss 42 95 38 (415)
Operating cash flows before movements in working capital (2,315) 1,201 (5,049) (13,146)
Net changes in non-cash working capital items:        
Accounts receivables 389 335 (215) (655)
Prepaids and other receivables 439 793 (1,681) 2,889
Accounts payable and accrued liabilities (3,043) 214 69 (8,350)
Cash provided by (used in) operating activities (4,530) 2,543 (6,876) (19,262)
Investing activities        
Restricted cash released       1,815
Interest received   81 36  
Dividend received 28   34  
Investment in royalties, streaming and other mineral interests (12) (46,098) (28,701) (19,682)
Investment in short-term investments (44)     (799)
Proceeds on disposition of short-term investments 4,531 174 3,308 17,659
Cash acquired through acquisition of Abitibi Royalties Inc. and Golden Valley Mines and Royalties Ltd.       10,393
Investment in associate       (409)
Land agreements proceeds credited against other mineral interests 481 1,663 1,835 1,630
Investment in gold-linked loan     (10,000)  
Purchase of equipment       (28)
Proceeds on disposition of other mineral interests 16 112    
Cash provided by (used in) investing activities 5,000 (44,068) (33,488) 10,579
Financing activities        
Proceeds from issuance of common shares   31,976 1,391 856
Net proceeds from bank loan/(payment of bank transaction costs)   14,624 (161) 9,403
Proceeds from convertible debentures, net of issuance costs     38,520  
Interest paid (197) (4,161) (1,115) (342)
Payment of lease obligations (25) (90) (76) (60)
Dividends (1,439)   (2,599) (4,032)
Repurchase of call options (8)      
Cash provided by (used in) financing activities (1,669) 42,349 35,960 5,825
Effect of exchange rate changes on cash (2)     1
Net increase (decrease) in cash (1,201) 824 (4,404) (2,857)
Beginning of year/period 7,048 1,443 5,847 9,905
End of year/period $ 5,847 $ 2,267 $ 1,443 $ 7,048