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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
OPERATING ACTIVITIES    
Net loss $ (41,205) $ (19,700)
Adjustments    
Depletion, depreciation and amortization 743 757
Accretion expense 975 768
Share-based payments 692 530
Non-cash items included in other expense (income) 17,564 (4,405)
Loss on foreign exchange 123 69
Interest expense 8,204 8,030
Deferred tax expense 0 386
Other 34 (80)
Net change in operating assets and liabilities (9,831) (11,578)
Cash used in operating activities (22,701) (25,223)
INVESTING ACTIVITIES    
Capital expenditures on property, plant and equipment (356) (702)
Cash used in investing activities (356) (702)
FINANCING ACTIVITIES    
Share issue costs (113) (380)
Stock option exercises 8 586
Finance fees paid (294) (200)
Other (16) (125)
Cash provided by financing activities 18,316 17,317
Change in cash, cash equivalents and restricted cash during the period (4,741) (8,608)
Cash, cash equivalents and restricted cash, beginning of period 59,290 60,765
Effect of exchange rate changes on cash held (126) (69)
Cash, cash equivalents and restricted cash, end of period 54,423 52,088
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 13,475 13,090
Restricted cash and cash equivalents 40,948 38,998
Total cash, cash equivalents, and restricted cash 54,423 52,088
Equity Financing    
FINANCING ACTIVITIES    
Proceeds from share issued 16,212 17,436
ATM Program    
FINANCING ACTIVITIES    
Proceeds from share issued $ 2,519 $ 0