CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL
POSITION
(Unaudited -
Expressed in thousands of Canadian dollars (“CAD”)
except for share amounts)
|
||||||
|
|
|
|
At June
30
2023
|
|
At December
31
2022
|
ASSETS
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
|
Cash and cash
equivalents (note 4)
|
|
|
$
|
46,500
|
$
|
50,915
|
Trade and other
receivables (note 5)
|
|
|
|
5,659
|
|
4,143
|
Inventories (note
6)
|
|
|
|
3,046
|
|
2,713
|
Investments-equity
instruments (note 7)
|
|
|
|
8,483
|
|
8,022
|
Prepaid expenses
and other
|
|
|
|
1,078
|
|
1,367
|
|
|
|
|
64,766
|
|
67,160
|
Non-Current
|
|
|
|
|
|
|
Inventories-ore
in stockpiles (note 6)
|
|
|
|
2,098
|
|
2,098
|
Investments-equity
instruments (note 7)
|
|
|
|
157
|
|
87
|
Investments-uranium
(note 7)
|
|
|
|
185,357
|
|
162,536
|
Investments-joint
venture (note 8)
|
|
|
|
17,050
|
|
19,305
|
Restricted cash
and investments (note 9)
|
|
|
11,579
|
|
11,105
|
|
Property, plant
and equipment (note 10)
|
|
|
|
251,618
|
|
253,505
|
Total
assets
|
|
|
$
|
532,625
|
$
|
515,796
|
LIABILITIES
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
|
Accounts payable
and accrued liabilities (note 11)
|
|
|
$
|
10,461
|
$
|
10,299
|
Current portion
of long-term liabilities:
|
|
|
|
|
|
|
Deferred revenue
(note 12)
|
|
|
|
4,536
|
|
4,915
|
Post-employment
benefits (note 13)
|
|
|
|
120
|
|
120
|
Reclamation
obligations (note 14)
|
|
|
|
2,144
|
|
2,865
|
Other liabilities
(note 16)
|
|
|
|
223
|
|
216
|
|
|
|
|
17,484
|
|
18,415
|
Non-Current
|
|
|
|
|
|
|
Deferred revenue
(note 12)
|
|
|
|
30,774
|
|
28,380
|
Post-employment
benefits (note 13)
|
|
|
|
1,034
|
|
1,081
|
Reclamation
obligations (note 14)
|
|
|
|
27,043
|
|
26,594
|
Other liabilities
(note 16)
|
|
|
|
291
|
|
360
|
Deferred income
tax liability
|
|
|
|
4,272
|
|
4,950
|
Total
liabilities
|
|
|
|
80,898
|
|
79,780
|
EQUITY
|
|
|
|
|
|
|
Share capital
(note 17)
|
|
|
|
1,555,553
|
|
1,539,209
|
Contributed
surplus (note 18)
|
|
|
|
71,858
|
|
70,281
|
Deficit
|
|
|
|
(1,177,595)
|
|
(1,175,256)
|
Accumulated other
comprehensive income (note 19)
|
|
|
|
1,911
|
|
1,782
|
Total
equity
|
|
|
|
451,727
|
|
436,016
|
Total
liabilities and equity
|
|
|
$
|
532,625
|
$
|
515,796
|
Issued and
outstanding common shares (note 17)
|
|
|
835,787,520
|
|
826,325,592
|
|
Commitments
and contingencies (note 24)
|
||||||
The accompanying
notes are an integral part of the condensed interim consolidated
financial statements
|
(Unaudited -
Expressed in thousands of CAD dollars except for share and per
share amounts)
|
||||||||
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REVENUES (note 21)
|
$
|
3,491
|
$
|
6,800
|
$
|
4,575
|
$
|
10,925
|
|
|
|
|
|
|
|
|
|
EXPENSES
|
|
|
|
|
|
|
|
|
Operating
expenses (note 20 and 21)
|
|
(3,007)
|
|
(3,654)
|
|
(5,567)
|
|
(6,052)
|
Exploration (note
21)
|
|
(1,834)
|
|
(1,060)
|
|
(5,781)
|
|
(3,626)
|
Evaluation (note
21)
|
|
(4,662)
|
|
(6,616)
|
|
(7,384)
|
|
(11,081)
|
General and
administrative (note 21)
|
|
(3,209)
|
|
(2,759)
|
|
(6,463)
|
|
(6,823)
|
Other income
(expense) (note 20)
|
|
12,000
|
|
(7,481)
|
|
22,246
|
|
45,164
|
|
|
(712)
|
|
(21,570)
|
|
(2,949)
|
|
17,582
|
Income
(loss) before net finance expense, equity accounting
|
|
2,779
|
|
(14,770)
|
|
1,626
|
|
28,507
|
|
|
|
|
|
|
|
|
|
Finance expense,
net (note 20)
|
|
(438)
|
|
(876)
|
|
(1,288)
|
|
(1,574)
|
Equity share of
loss of joint venture (note 8)
|
|
(2,461)
|
|
(812)
|
|
(3,355)
|
|
(1,304)
|
Income (loss)
before taxes
|
|
(120)
|
|
(16,458)
|
|
(3,017)
|
|
25,629
|
Income tax
recovery:
|
|
|
|
|
|
|
|
|
Deferred
|
|
181
|
|
311
|
|
678
|
|
847
|
Net income (loss)
for the period
|
$
|
61
|
$
|
(16,147)
|
$
|
(2,339)
|
$
|
26,476
|
|
|
|
|
|
|
|
|
|
Other
comprehensive income (loss) (note 19):
|
|
|
|
|
|
|
|
|
Items that are or
may be subsequently reclassified to income (loss):
|
|
|
|
|
|
|
|
|
Foreign currency
translation change
|
|
125
|
|
(6)
|
|
129
|
|
(3)
|
Comprehensive
income (loss) for the period
|
$
|
186
|
$
|
(16,153)
|
$
|
(2,210)
|
$
|
26,473
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted
net income (loss) per share:
|
|
|
|
|
|
|
|
|
Basic
|
$
|
0.00
|
$
|
(0.02)
|
$
|
(0.00)
|
$
|
0.03
|
Diluted
|
$
|
0.00
|
$
|
(0.02)
|
$
|
(0.00)
|
$
|
0.03
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
||
Weighted-average
number of shares outstanding
(in
thousands):
|
|
|
|
|
|
|
|
|
Basic
|
|
835,660
|
|
817,935
|
|
834,243
|
|
816,361
|
Diluted
|
|
845,425
|
|
817,935
|
|
844,124
|
|
826,425
|
|
|
|
|
|
|
|
|
|
The accompanying
notes are an integral part of the condensed interim consolidated
financial statements
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN
EQUITY
(Unaudited -
Expressed in thousands of CAD dollars)
|
||||||||
|
|
|
|
Six
Months Ended
June
30
|
||||
|
|
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
Share capital (note 17)
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
$
|
1,539,209
|
$
|
1,517,029
|
Shares issued for
cash, net of issue costs
|
|
|
|
|
|
15,339
|
|
8,292
|
Other shares
issued, net of issue costs
|
|
|
|
|
|
193
|
|
148
|
Share options
exercised-cash
|
|
|
|
|
|
452
|
|
807
|
Share options
exercised-transfer from contributed surplus
|
|
|
|
178
|
|
307
|
||
Share units
exercised-transfer from contributed surplus
|
|
|
|
182
|
|
326
|
||
Balance-end of
period
|
|
|
|
|
|
1,555,553
|
|
1,526,909
|
|
|
|
|
|
|
|
|
|
Contributed surplus
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
70,281
|
|
67,496
|
Share-based
compensation expense (note 18)
|
|
|
|
|
|
1,937
|
|
1,952
|
Share options
exercised-transfer to share capital
|
|
|
|
|
|
(178)
|
|
(307)
|
Share units
exercised-transfer to share capital
|
|
|
|
|
|
(182)
|
|
(326)
|
Balance-end of
period
|
|
|
|
|
|
71,858
|
|
68,815
|
|
|
|
|
|
|
|
|
|
Deficit
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
(1,175,256)
|
|
(1,189,610)
|
Net income
(loss)
|
|
|
|
|
|
(2,339)
|
|
26,476
|
Balance-end of
period
|
|
|
|
|
|
(1,177,595)
|
|
(1,163,134)
|
|
|
|
|
|
|
|
|
|
Accumulated
other comprehensive income (note 19)
|
|
|
|
|
|
|
||
Balance-beginning
of period
|
|
|
|
|
|
1,782
|
|
1,776
|
Foreign currency
translation
|
|
|
|
|
|
129
|
|
(3)
|
Balance-end of
period
|
|
|
|
|
|
1,911
|
|
1,773
|
|
|
|
|
|
|
|
|
|
Total Equity
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
$
|
436,016
|
$
|
396,691
|
Balance-end of
period
|
|
|
|
|
$
|
451,727
|
$
|
434,363
|
|
|
|
|
|
|
|
|
|
The accompanying
notes are an integral part of the condensed interim consolidated
financial statements
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW
(Unaudited -
Expressed in thousands of CAD dollars)
|
||||||||
|
|
|
|
Six
Months Ended
June
30
|
||||
|
|
|
|
2023
|
|
2022
|
||
CASH PROVIDED BY (USED IN):
|
|
|
|
|
|
|
||
OPERATING ACTIVITIES
|
|
|
|
|
|
|
||
Net income (loss)
for the period
|
|
|
$
|
(2,339)
|
$
|
26,476
|
||
Adjustments and
items not affecting cash and cash equivalents:
|
|
|
|
|
|
|
||
Depletion,
depreciation, amortization and accretion
|
|
|
|
4,891
|
|
4,052
|
||
Fair value change
losses (gains):
|
|
|
|
|
|
|
||
Investments-equity
instruments (notes 7 and 20)
|
|
|
|
1,885
|
|
4,986
|
||
Investments-uranium
(notes 7 and 20)
|
|
|
|
(22,821)
|
|
(29,579)
|
||
Warrants
on investment (notes 7 and 20)
|
|
|
|
-
|
|
(1,170)
|
||
Share
purchase warrants liabilities (note 20)
|
|
|
|
-
|
|
(16,733)
|
||
Joint
venture-equity share of loss (note 8)
|
|
|
|
3,355
|
|
1,304
|
||
Reversal
(recognition) of deferred revenue (note 12)
|
|
|
|
14
|
|
(3,976)
|
||
Loss (gain) on
property, plant and equipment disposals
|
|
|
|
(1,299)
|
|
36
|
||
Post-employment
benefit payments (note 13)
|
|
|
|
(57)
|
|
(66)
|
||
Reclamation
obligation expenditures (note 14)
|
|
|
|
(1,211)
|
|
(854)
|
||
Reclamation
liability deposit from joint venture partner (note 14)
|
|
|
|
99
|
|
-
|
||
Share-based
compensation (note 18)
|
|
|
|
1,937
|
|
1,952
|
||
Foreign exchange
loss (gain) (note 20)
|
|
|
|
191
|
|
(287)
|
||
Deferred income
tax recovery
|
|
|
|
(678)
|
|
(847)
|
||
Change in
non-cash operating working capital items (note 20)
|
|
|
|
(1,179)
|
|
1,377
|
||
Net
cash used in operating activities
|
|
|
|
(17,212)
|
|
(13,329)
|
||
|
|
|
|
|
|
|
||
INVESTING ACTIVITIES
|
|
|
|
|
|
|
||
(Decrease)/Increase
in restricted cash and investments (note 9)
|
|
|
|
(474)
|
|
438
|
||
Purchase of
investment in joint venture (note 8)
|
|
|
|
(1,100)
|
|
-
|
||
Additions of
property, plant and equipment (note 10)
|
|
|
|
(1,351)
|
|
(3,644)
|
||
Proceeds on
disposal of property, plant and equipment
|
|
|
|
125
|
|
-
|
||
Net
cash used in investing activities
|
|
|
|
(2,800)
|
|
(3,206)
|
||
|
|
|
|
|
|
|
||
FINANCING ACTIVITIES
|
|
|
|
|
|
|
||
Issuance of debt
obligations (note 16)
|
|
|
|
-
|
|
72
|
||
Repayment
of debt obligations (note 16)
|
|
|
|
(110)
|
|
(106)
|
||
Proceeds
from share issues, net of issue costs (note 17)
|
|
|
|
15,319
|
|
8,292
|
||
Proceeds
from share options exercised (note 17)
|
|
|
|
452
|
|
807
|
||
Net
cash provided by financing activities
|
|
|
|
15,661
|
|
9,065
|
||
|
|
|
|
|
|
|
||
Decrease
in cash and cash equivalents
|
|
|
|
(4,351)
|
|
(7,470)
|
||
Foreign
exchange effect on cash and cash equivalents
|
|
|
|
(64)
|
|
311
|
||
Cash
and cash equivalents, beginning of period
|
|
|
|
50,915
|
|
63,998
|
||
Cash
and cash equivalents, end of period
|
|
|
$
|
46,500
|
$
|
56,839
|
||
|
||||||||
|
||||||||
The accompanying
notes are an integral part of the condensed interim consolidated
financial statements
|
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED JUNE 30, 2023
|
|
(Unaudited -
Expressed in CAD dollars except for shares and per share
amounts)
|
|
|
|
|
|
At June
30
|
|
At December
31
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
Cash
|
|
|
$
|
1,537
|
$
|
1,801
|
Cash in MLJV and
MWJV
|
|
|
|
1,389
|
|
1,263
|
Cash
equivalents
|
|
|
|
43,574
|
|
47,851
|
|
|
|
$
|
46,500
|
$
|
50,915
|
|
|
|
|
At June
30
|
|
At December
31
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
Trade
receivables
|
|
|
$
|
4,997
|
$
|
3,184
|
Receivables in
MLJV and MWJV
|
|
|
|
508
|
|
508
|
Sales tax
receivables
|
|
|
|
130
|
|
428
|
Sundry
receivables
|
|
|
|
24
|
|
23
|
|
|
|
$
|
5,659
|
$
|
4,143
|
|
|
|
|
At June
30
|
|
At December
31
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
Inventory of ore
in stockpiles
|
|
|
$
|
2,098
|
$
|
2,098
|
Mine and mill
supplies in MLJV
|
|
|
|
3,046
|
|
2,713
|
|
|
|
$
|
5,144
|
$
|
4,811
|
|
|
|
|
|
|
|
Inventories-by
balance sheet presentation:
|
|
|
|
|
|
|
Current
|
|
|
$
|
3,046
|
$
|
2,713
|
Long term-ore in
stockpiles
|
|
|
|
2,098
|
|
2,098
|
|
|
|
$
|
5,144
|
$
|
4,811
|
|
|
|
|
At June
30
|
|
At December
31
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
Investments:
|
|
|
|
|
|
|
Equity
instruments
|
|
|
|
|
|
|
Shares
|
|
|
$
|
8,483
|
$
|
8,022
|
Warrants
|
|
|
|
157
|
|
87
|
Physical
Uranium
|
|
|
|
185,357
|
|
162,536
|
|
|
|
$
|
193,997
|
$
|
170,645
|
|
|
|
|
|
|
|
Investments-by
balance sheet presentation:
|
|
|
|
|
|
|
Current
|
|
|
$
|
8,483
|
$
|
8,022
|
Long-term
|
|
|
|
185,514
|
|
162,623
|
|
|
|
$
|
193,997
|
$
|
170,645
|
(in
thousands)
|
|
Equity
Instruments
|
|
Physical
Uranium
|
|
Total
Investments
|
|
|
|
|
|
|
|
|
|
Balance-December
31, 2022
|
$
|
8,109
|
$
|
162,536
|
$
|
170,645
|
|
Acquired
investments (note 10)
|
|
2,416
|
|
-
|
|
2,416
|
|
Change in fair
value gain to profit (note 20)
|
|
(1,885)
|
|
22,821
|
|
20,936
|
|
Balance-June 30,
2023
|
$
|
8,640
|
|
185,357
|
|
193,997
|
|
|
|
|
|
At June
30
|
|
At December
31
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
Investment in
joint venture:
|
|
|
|
|
|
|
JCU
|
|
|
$
|
17,050
|
$
|
19,305
|
|
|
|
$
|
17,050
|
$
|
19,305
|
(in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance-December
31, 2022
|
|
|
|
|
$
|
19,305
|
Investment at
cost:
|
|
|
|
|
|
|
Equity
share of loss
|
|
|
|
|
|
(3,355)
|
Additional
investment in JCU
|
|
|
|
|
|
1,100
|
Balance-June 30,
2023
|
|
|
|
|
$
|
17,050
|
|
|
|
|
At June
30
|
|
At December
31
|
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
Total current
assets(1)
|
|
|
$
|
2,283
|
$
|
2,273
|
|
Total non-current
assets
|
|
|
|
38,463
|
|
38,371
|
|
Total current
liabilities
|
|
|
|
(2,904)
|
|
(1,949)
|
|
Total non-current
liabilities
|
|
|
|
(3,743)
|
|
(86)
|
|
Total net
assets
|
|
|
$
|
34,099
|
$
|
38,609
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months
Ended
|
|
|
|
|
|
|
|
May 31,
2023(2)
|
|
|
|
|
|
|
|
|
|
Revenue
|
|
|
|
|
$
|
-
|
|
Net
loss
|
|
|
|
|
|
(6,710)
|
|
Other
comprehensive income
|
|
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
JCU net assets to Denison investment carrying value:
|
|
|
|||||
Adjusted net assets of
JCU–at December 31, 2022
|
|
|
$
|
38,609
|
|||
Net
loss
|
|
|
|
|
|
(6,710)
|
|
Investment from
owners
|
|
|
|
|
|
2,200
|
|
Net assets of
JCU-at May 31, 2023
|
|
|
|
|
$
|
34,099
|
|
Denison ownership
interest
|
|
|
|
|
|
50.00%
|
|
Investment in
JCU
|
|
|
|
|
$
|
17,050
|
|
|
|
|
At June
30
|
|
At December
31
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
$
|
3,607
|
$
|
3,133
|
Investments
|
|
|
|
7,972
|
|
7,972
|
|
|
|
$
|
11,579
|
$
|
11,105
|
|
|
|
|
|
|
|
Restricted cash
and investments-by item:
|
|
|
|
|
|
|
Elliot Lake
reclamation trust fund
|
|
|
$
|
3,607
|
$
|
3,133
|
Letters of credit
facility pledged assets
|
|
|
|
7,972
|
|
7,972
|
|
|
|
$
|
11,579
|
$
|
11,105
|
|
|
Plant
and Equipment
|
|
Mineral
|
|
Total
|
||
(in
thousands)
|
|
Owned
|
|
Right-of-Use
|
|
Properties
|
|
PP&E
|
|
|
|
|
|
|
|
|
|
Cost:
|
|
|
|
|
|
|
|
|
Balance-December
31, 2022
|
$
|
108,068
|
$
|
763
|
$
|
180,219
|
$
|
289,050
|
Additions (note
21)
|
|
971
|
|
34
|
|
380
|
|
1,385
|
Disposals
|
|
(157)
|
|
(28)
|
|
(1,242)
|
|
(1,427)
|
Balance-June 30,
2023
|
$
|
108,882
|
$
|
769
|
$
|
179,357
|
$
|
289,008
|
|
|
|
|
|
|
|
|
|
Accumulated
amortization, depreciation:
|
|
|
|
|
|
|
|
|
Balance-December
31, 2022
|
$
|
(35,150)
|
$
|
(395)
|
$
|
-
|
$
|
(35,545)
|
Amortization
|
|
(94)
|
|
-
|
|
-
|
|
(94)
|
Depreciation
(note 20)
|
|
(1,865)
|
|
(70)
|
|
-
|
|
(1,935)
|
Disposals
|
|
157
|
|
27
|
|
-
|
|
184
|
Balance-June 30,
2023
|
$
|
(36,952)
|
$
|
(438)
|
$
|
-
|
$
|
(37,390)
|
|
|
|
|
|
|
|
|
|
Carrying
value:
|
|
|
|
|
|
|
|
|
Balance-December
31, 2022
|
$
|
72,918
|
$
|
368
|
$
|
180,219
|
$
|
253,505
|
Balance-June 30,
2023
|
$
|
71,930
|
$
|
331
|
$
|
179,357
|
$
|
251,618
|
|
|
|
|
At June
30
|
|
At December
31
|
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
Trade
payables
|
|
|
$
|
4,888
|
$
|
5,434
|
|
Payables in MLJV
and MWJV
|
|
|
|
4,988
|
|
4,036
|
|
Other
payables
|
|
|
|
585
|
|
829
|
|
|
|
|
$
|
10,461
|
$
|
10,299
|
|
|
|
|
At June
30
|
|
At December
31
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
Deferred
revenue-pre-sold toll milling:
|
|
|
|
|
|
|
CLJV Toll
Milling-Ecora
|
|
|
$
|
35,310
|
$
|
33,295
|
|
|
|
$
|
35,310
|
$
|
33,295
|
Deferred
revenue-by balance sheet presentation:
|
|
|
|
|
||
Current
|
|
|
$
|
4,536
|
$
|
4,915
|
Non-current
|
|
|
|
30,774
|
|
28,380
|
|
|
|
$
|
35,310
|
$
|
33,295
|
(in
thousands)
|
|
|
|
|
|
|
Deferred
Revenue
|
|
|
|
|
|
|
|
|
Balance-December
31, 2022
|
|
|
|
|
$
|
33,295
|
|
Revenue reversed
during the period (note 21)
|
|
|
|
|
|
14
|
|
Accretion (note
20)
|
|
|
|
|
|
2,001
|
|
Balance-June 30,
2023
|
|
|
|
|
$
|
35,310
|
|
|
|
|
At June
30
|
|
At December
31
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
Accrued benefit
obligation
|
|
|
$
|
1,154
|
$
|
1,201
|
|
|
|
$
|
1,154
|
$
|
1,201
|
|
|
|
|
|
|
|
Post-employment
benefits-by balance sheet presentation:
|
|
|
|
|
||
Current
|
|
|
$
|
120
|
$
|
120
|
Non-current
|
|
|
|
1,034
|
|
1,081
|
|
|
|
$
|
1,154
|
$
|
1,201
|
(in
thousands)
|
|
|
|
|
|
Post-Employment
Benefits
|
|
|
|
|
|
|
|
Balance-December
31, 2022
|
|
|
|
|
$
|
1,201
|
Accretion (note
20)
|
|
|
|
|
|
10
|
Benefits
paid
|
|
|
|
|
|
(57)
|
Balance-June 30,
2023
|
|
|
|
|
$
|
1,154
|
|
|
|
|
At June
30
|
|
At December
31
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
Reclamation
obligations-by item:
|
|
|
|
|
|
|
Elliot
Lake
|
|
|
$
|
16,622
|
$
|
16,634
|
MLJV and
MWJV
|
|
|
|
10,353
|
|
10,069
|
Wheeler River and
other
|
|
|
|
2,212
|
|
2,756
|
|
|
|
$
|
29,187
|
$
|
29,459
|
|
|
|
|
|
|
|
Reclamation
obligations-by balance sheet presentation:
|
|
|
|
|
||
Current
|
|
|
$
|
2,144
|
$
|
2,865
|
Non-current
|
|
|
|
27,043
|
|
26,594
|
|
|
|
$
|
29,187
|
$
|
29,459
|
(in
thousands)
|
|
|
|
|
|
Reclamation
Obligations
|
|
|
|
|
|
|
|
Balance-December
31, 2022
|
|
|
|
|
$
|
29,459
|
Reclamation
liability deposit from joint venture partner
|
|
|
|
|
|
99
|
Accretion (note
20)
|
|
|
|
|
|
840
|
Expenditures
incurred
|
|
|
|
|
|
(1,211)
|
Balance-June 30,
2023
|
|
|
|
|
$
|
29,187
|
|
Number
of
|
|
Warrant
|
(in thousands
except warrant amounts)
|
Warrants
|
|
Liability
|
|
|
|
|
Balance-December
31, 2022
|
55,006,475
|
$
|
-
|
Expiry of share
purchase warrants
|
(55,006,475)
|
|
-
|
Balance-June 30,
2023
|
-
|
$
|
-
|
|
|
|
|
At June
30
|
|
At December
31
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
Other
liabilities:
|
|
|
|
|
|
|
Lease
obligations
|
|
|
$
|
359
|
$
|
396
|
Loan
obligations
|
|
|
|
155
|
|
180
|
|
|
|
$
|
514
|
$
|
576
|
|
|
|
|
|
|
|
Other
liabilities-by balance sheet presentation:
|
|
|
|
|
|
|
Current
|
|
|
$
|
223
|
$
|
216
|
Non-current
|
|
|
|
291
|
|
360
|
|
|
|
$
|
514
|
$
|
576
|
|
|
|
Lease
|
|
Loan
|
|
Total
Debt
|
||
(in
thousands)
|
|
|
|
Liabilities
|
|
Liabilities
|
|
Obligations
|
|
|
|
|
|
|
|
|
|
|
|
Balance-December
31, 2022
|
|
|
$
|
396
|
$
|
180
|
$
|
576
|
|
Accretion (note
20)
|
|
|
|
15
|
|
-
|
|
15
|
|
Additions (note
10)
|
|
|
|
34
|
|
-
|
|
34
|
|
Repayments
|
|
|
|
(85)
|
|
(25)
|
|
(110)
|
|
Liability
adjustment gain
|
|
|
|
(1)
|
|
-
|
|
(1)
|
|
Balance-June 30,
2023
|
|
|
$
|
359
|
$
|
155
|
$
|
514
|
|
|
|
Lease
|
|
Loan
|
|
Total
Debt
|
||
(in
thousands)
|
|
|
|
Liabilities
|
|
Liabilities
|
|
Obligations
|
|
|
|
|
|
|
|
|
|
|
|
Maturity
analysis-contractual undiscounted cash flows:
|
|
|
|
|
|
|
|||
Next 12
months
|
|
|
$
|
168
|
$
|
55
|
$
|
223
|
|
One to five
years
|
|
|
|
227
|
|
108
|
|
335
|
|
More than five
years
|
|
|
|
-
|
|
-
|
|
-
|
|
Total
obligation-end of period-undiscounted
|
|
|
|
395
|
|
163
|
|
558
|
|
Present value
discount adjustment
|
|
|
|
(36)
|
|
(8)
|
|
(44)
|
|
Total
obligation-end of period-discounted
|
|
|
$
|
359
|
$
|
155
|
$
|
514
|
|
Number
of
|
|
|
|
|
Common
|
|
Share
|
|
(in thousands
except share amounts)
|
Shares
|
|
Capital
|
|
|
|
|
|
|
Balance-December
31, 2022
|
826,325,592
|
$
|
1,539,209
|
|
Issued for
cash:
|
|
|
|
|
Shares issued
proceeds-total
|
8,481,060
|
|
15,653
|
|
Less: share issue
costs
|
-
|
|
(314)
|
|
Other share issue
proceeds-total
|
153,237
|
|
213
|
|
Less: other share
issue costs
|
-
|
|
(20)
|
|
Share option
exercises
|
666,714
|
|
452
|
|
Share option
exercises-transfer from contributed surplus
|
-
|
|
178
|
|
Share unit
exercises-transfer from contributed surplus
|
160,917
|
|
182
|
|
|
9,461,928
|
|
16,344
|
|
Balance-June 30,
2023
|
835,787,520
|
$
|
1,555,553
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in
thousands)
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
Share based
compensation expense for:
|
|
|
|
|
|
|
|
|
Share
options
|
$
|
(322)
|
$
|
(370)
|
$
|
(697)
|
$
|
(759)
|
RSUs
|
|
(547)
|
|
(561)
|
|
(1,154)
|
|
(1,060)
|
PSUs
|
|
(24)
|
|
(91)
|
|
(86)
|
|
(133)
|
Share
based compensation expense
|
$
|
(893)
|
$
|
(1,022)
|
$
|
(1,937)
|
$
|
(1,952)
|
|
|
|
|
2023
|
||||
|
|
|
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
|
|
Average
|
|
|
|
|
|
|
|
|
Exercise
|
|
|
|
|
|
|
Number
of
Common
|
|
Price
per
Share
|
|
|
|
|
|
|
Shares
|
|
(CAD)
|
|
|
|
|
|
|
|
|
|
Share options
outstanding-December 31, 2022
|
|
|
|
|
|
8,539,214
|
$
|
1.09
|
Grants
|
|
|
|
|
|
1,766,000
|
|
1.49
|
Exercises
(1)
|
|
|
|
|
|
(666,714)
|
|
0.68
|
Expiries
|
|
|
|
|
|
(24,000)
|
|
0.60
|
Forfeitures
|
|
|
|
|
|
(299,000)
|
|
1.35
|
Share options
outstanding-June 30, 2023
|
|
|
|
|
|
9,315,500
|
$
|
1.18
|
Share
options exercisable-June 30, 2023
|
|
|
|
|
|
6,450,336
|
$
|
0.99
|
|
|
|
|
|
Weighted
|
|
|
|
Weighted-
|
|
|
|
|
|
Average
|
|
|
|
Average
|
|
|
|
|
|
Remaining
|
|
|
|
Exercise
|
Range of
Exercise
|
|
|
|
|
Contractual
|
|
Number
of
|
|
Price
per
|
Prices per
Share
|
|
|
|
|
Life
|
|
Common
|
|
Share
|
(CAD)
|
|
|
|
|
(Years)
|
|
Shares
|
|
(CAD)
|
|
|
|
|
|
|
|
|
|
|
Share options
outstanding
|
|
|
|
|
|
|
|||
$ 0.25 to $
0.49
|
|
1.69
|
|
1,667,500
|
$
|
0.46
|
|||
$ 0.50 to $
0.74
|
|
|
|
|
0.75
|
|
1,299,500
|
|
0.68
|
$ 0.75 to $
0.99
|
|
|
|
|
-
|
|
-
|
|
-
|
$ 1.00 to $
1.49
|
|
|
|
|
3.44
|
|
4,712,500
|
|
1.36
|
$ 1.50 to $
1.99
|
|
|
|
|
3.72
|
|
1,555,000
|
|
1.81
|
$ 2.00 to $
2.49
|
|
|
|
|
3.43
|
|
81,000
|
|
2.21
|
Share options
outstanding-June 30, 2023
|
|
2.80
|
|
9,315,500
|
$
|
1.18
|
|
|
|
|
Six Months
Ended
|
|
|
|
|
|
June 30,
2023
|
|
|
|
|
|
|
|
Risk-free
interest rate
|
|
|
|
3.68% to
3.95%
|
|
Expected stock
price volatility
|
|
|
|
72.86 % to
73.41%
|
|
Expected
life
|
|
|
|
3.42 to
3.43
|
|
Expected dividend
yield
|
|
|
|
-
|
|
Fair value
per options granted
|
|
|
0.79 to
0.80
|
|
|
RSUs
|
|
PSUs
|
||||
|
|
|
|
Weighted
|
|
|
|
Weighted
|
|
|
|
|
Average
|
|
|
|
Average
|
|
|
Number
of
|
|
Fair
Value
|
|
Number
of
|
|
Fair
Value
|
|
|
Common
|
|
Per
RSU
|
|
Common
|
|
Per
PSU
|
|
|
Shares
|
|
(CAD)
|
|
Shares
|
|
(CAD)
|
|
|
|
|
|
|
|
|
|
Units
outstanding–December 31, 2022
|
|
6,416,089
|
$
|
1.04
|
|
1,470,000
|
$
|
0.77
|
Grants
|
|
1,433,000
|
|
1.49
|
|
-
|
|
-
|
Exercises
(1)
|
|
(160,917)
|
|
1.13
|
|
-
|
|
-
|
Forfeitures
|
|
(121,334)
|
|
1.72
|
|
-
|
|
-
|
Units
outstanding–June 30, 2023
|
|
7,566,838
|
$
|
1.12
|
|
1,470,000
|
$
|
0.77
|
Units
vested–June 30, 2023
|
|
4,816,506
|
$
|
0.81
|
|
1,470,000
|
$
|
0.77
|
|
|
|
|
At June
30
|
|
At December
31
|
(in
thousands)
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
Cumulative
foreign currency translation
|
|
|
$
|
549
|
$
|
420
|
Experience
gains-post employment liability
|
|
|
|
|
||
Gross
|
|
|
|
1,847
|
|
1,847
|
Tax
effect
|
|
|
|
(485)
|
|
(485)
|
|
|
|
$
|
1,911
|
$
|
1,782
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in
thousands)
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
Cost of goods and
services sold:
|
|
|
|
|
|
|
|
|
Cost
of goods sold-mineral concentrates
|
$
|
-
|
$
|
(444)
|
$
|
-
|
$
|
(444)
|
Operating
overheads:
|
|
|
|
|
|
|
|
|
Mining, other
development expense
|
|
(63)
|
|
(118)
|
|
(118)
|
|
(190)
|
Milling,
conversion expense
|
|
(615)
|
|
(931)
|
|
(1,267)
|
|
(1,555)
|
Less
absorption:
|
|
|
|
|
|
|
|
|
-Mineral
properties
|
|
-
|
|
10
|
|
-
|
|
21
|
-Milling
|
|
-
|
|
-
|
|
-
|
|
(11)
|
Cost of
services-Closed Mines Services
|
|
(2,282)
|
|
(1,875)
|
|
(4,088)
|
|
(3,531)
|
Cost of goods and
services sold
|
|
(2,960)
|
|
(3,358)
|
|
(5,473)
|
|
(5,710)
|
Selling
expenses
|
|
-
|
|
(34)
|
|
-
|
|
(34)
|
Sales
royalties
|
|
-
|
|
(216)
|
|
-
|
|
(216)
|
Reclamation asset
amortization
|
|
(47)
|
|
(46)
|
|
(94)
|
|
(92)
|
Operating
expenses
|
$
|
(3,007)
|
$
|
(3,654)
|
$
|
(5,567)
|
$
|
(6,052)
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in
thousands)
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
Gains (losses)
on:
|
|
|
|
|
|
|
|
|
Foreign
exchange
|
$
|
(354)
|
$
|
487
|
$
|
(191)
|
$
|
287
|
Disposal of
property, plant and equipment
|
|
1,299
|
|
(36)
|
|
1,299
|
|
(36)
|
Fair value
changes:
|
|
|
|
|
|
|
|
|
Investments-equity
instruments (note 7)
|
|
(3,051)
|
|
(9,261)
|
|
(1,885)
|
|
(4,986)
|
Investments-uranium (note
7)
|
|
13,995
|
|
(18,177)
|
|
22,821
|
|
29,579
|
Warrants on
investment (note 7)
|
|
-
|
|
2,308
|
|
-
|
|
1,170
|
Share purchase
warrant liabilities (note 15)
|
|
-
|
|
17,217
|
|
-
|
|
16,733
|
Gain
on recognition of proceeds–UI
Repayment Agreement
|
|
266
|
|
127
|
|
535
|
|
2,713
|
Uranium
investment carrying charges
|
|
(95)
|
|
(93)
|
|
(191)
|
|
(171)
|
Other
|
|
(60)
|
|
(53)
|
|
(142)
|
|
(125)
|
Other
income
|
$
|
12,000
|
$
|
(7,481)
|
$
|
22,246
|
$
|
45,164
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in
thousands)
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
Interest
income
|
$
|
776
|
$
|
236
|
$
|
1,580
|
$
|
352
|
Interest
expense
|
|
(1)
|
|
(3)
|
|
(2)
|
|
(4)
|
Accretion
expense
|
|
|
|
|
|
|
|
|
Deferred
revenue (note 12)
|
|
(780)
|
|
(739)
|
|
(2,001)
|
|
(1,181)
|
Post-employment
benefits (note 13)
|
|
(5)
|
|
(6)
|
|
(10)
|
|
(11)
|
Reclamation
obligations (note 14)
|
|
(420)
|
|
(356)
|
|
(840)
|
|
(713)
|
Debt
obligations (note 16)
|
|
(8)
|
|
(8)
|
|
(15)
|
|
(17)
|
Finance
expense
|
$
|
(438)
|
$
|
(876)
|
$
|
(1,288)
|
$
|
(1,574)
|
|
|
Three
Month Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in
thousands)
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Mining, other
development expense
|
$
|
-
|
$
|
(1)
|
$
|
(1)
|
$
|
(1)
|
Milling,
conversion expense
|
|
(614)
|
|
(929)
|
|
(1,268)
|
|
(1,553)
|
Cost of
services
|
|
(54)
|
|
(44)
|
|
(106)
|
|
(88)
|
Evaluation
|
|
(145)
|
|
(29)
|
|
(289)
|
|
(63)
|
Exploration
|
|
(98)
|
|
(24)
|
|
(194)
|
|
(49)
|
General and
administrative
|
|
(39)
|
|
(76)
|
|
(77)
|
|
(118)
|
Depreciation
expense-gross
|
$
|
(950)
|
$
|
(1,103)
|
$
|
(1,935)
|
$
|
(1,872)
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in
thousands)
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
Salaries and
short-term employee benefits
|
$
|
(3,086)
|
$
|
(2,449)
|
$
|
(5,983)
|
$
|
(6,331)
|
Share-based
compensation (note 18)
|
|
(893)
|
|
(1,022)
|
|
(1,937)
|
|
(1,952)
|
Termination
benefits
|
|
(100)
|
|
(2)
|
|
(100)
|
|
(2)
|
Employee
benefits expense
|
$
|
(4,079)
|
$
|
(3,473)
|
$
|
(8,020)
|
$
|
(8,285)
|
|
|
|
|
Six
Months Ended
June
30
|
||||
(in
thousands)
|
|
|
|
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
Change in
non-cash working capital items:
|
|
|
|
|
|
|
|
|
Trade and other
receivables
|
|
|
|
|
$
|
(1,516)
|
$
|
(583)
|
Inventories
|
|
|
|
|
|
(332)
|
|
721
|
Prepaid expenses
and other assets
|
|
|
|
|
|
277
|
|
427
|
Accounts payable
and accrued liabilities
|
|
|
|
|
|
392
|
|
812
|
Change
in non-cash working capital items
|
|
|
|
|
$
|
(1,179)
|
$
|
1,377
|
(in
thousands)
|
|
|
Mining
|
Closed
Mines
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
$
|
(14)
|
4,589
|
-
|
4,575
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
|
(1,479)
|
(4,088)
|
-
|
(5,567)
|
Exploration
|
|
|
(5,781)
|
-
|
-
|
(5,781)
|
Evaluation
|
|
|
(7,384)
|
-
|
-
|
(7,384)
|
General and
administrative
|
|
|
(19)
|
-
|
(6,444)
|
(6,463)
|
|
|
|
(14,663)
|
(4,088)
|
(6,444)
|
(25,195)
|
Segment income
(loss)
|
|
$
|
(14,677)
|
501
|
(6,444)
|
(20,620)
|
|
|
|
|
|
|
|
Revenues-supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
$
|
-
|
4,589
|
-
|
4,589
|
Toll milling
services-deferred revenue (note 12)
|
|
(14)
|
-
|
-
|
(14)
|
|
|
|
$
|
(14)
|
4,589
|
-
|
4,575
|
|
|
|
|
|
|
|
Capital additions:
|
|
|
|
|
|
|
Property,
plant and equipment (note 10)
|
$
|
438
|
113
|
834
|
1,385
|
|
|
|
|
|
|
|
|
Long-lived assets:
|
|
|
|
|
|
|
Plant and
equipment
|
|
|
|
|
|
|
Cost
|
|
$
|
99,018
|
4,342
|
6,291
|
109,651
|
Accumulated
depreciation
|
|
|
(33,595)
|
(2,933)
|
(862)
|
(37,390)
|
Mineral
properties
|
|
|
179,357
|
-
|
-
|
179,357
|
|
|
$
|
244,780
|
1,409
|
5,429
|
251,618
|
(in
thousands)
|
|
|
Mining
|
Closed
Mines
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
$
|
968
|
2,523
|
-
|
3,491
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
|
(725)
|
(2,282)
|
-
|
(3,007)
|
Exploration
|
|
|
(1,834)
|
-
|
-
|
(1,834)
|
Evaluation
|
|
|
(4,662)
|
-
|
-
|
(4,662)
|
General and
administrative
|
|
|
-
|
-
|
(3,209)
|
(3,209)
|
|
|
|
(7,221)
|
(2,282)
|
(3,209)
|
(12,712)
|
Segment income
(loss)
|
|
$
|
(6,253)
|
241
|
(3,209)
|
(9,221)
|
|
|
|
|
|
|
|
Revenues-supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
$
|
-
|
2,523
|
-
|
2,523
|
Toll milling
services-deferred revenue (note 12)
|
|
968
|
-
|
-
|
968
|
|
|
|
$
|
968
|
2,523
|
-
|
3,491
|
(in
thousands)
|
|
|
Mining
|
Closed
Mine
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
$
|
6,962
|
3,963
|
-
|
10,925
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
$
|
(2,521)
|
(3,531)
|
-
|
(6,052)
|
Evaluation
|
|
|
(11,081)
|
-
|
-
|
(11,081)
|
Exploration
|
|
|
(3,626)
|
-
|
-
|
(3,626)
|
General and
administrative
|
|
|
(20)
|
-
|
(6,803)
|
(6,823)
|
|
|
|
(17,248)
|
(3,531)
|
(6,803)
|
(27,582)
|
Segment income
(loss)
|
|
$
|
(10,286)
|
432
|
(6,803)
|
(16,657)
|
|
|
|
|
|
|
|
Revenues–supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
$
|
-
|
3,963
|
-
|
3,963
|
Toll milling
services–deferred revenue (note 12)
|
|
3,976
|
-
|
-
|
3,976
|
|
Uranium
concentrate sale
|
|
2,986
|
-
|
-
|
2,986
|
|
|
|
$
|
6,962
|
3,963
|
-
|
10,925
|
Capital additions:
|
|
|
|
|
|
|
Property, plant
and equipment
|
|
|
464
|
36
|
3,212
|
3,712
|
|
|
|
|
|
|
|
Long-lived assets:
|
|
|
|
|
|
|
Plant and
equipment
|
|
|
|
|
|
|
Cost
|
|
|
95,810
|
4,218
|
6,568
|
106,596
|
Accumulated
depreciation
|
|
|
(27,996)
|
(2,994)
|
(2,627)
|
(33,617)
|
Mineral
properties
|
|
|
179,892
|
-
|
-
|
179,892
|
|
|
|
247,706
|
1,224
|
3,941
|
252,871
|
(in
thousands)
|
|
|
Mining
|
Closed
Mine
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
$
|
4,491
|
2,309
|
-
|
6,800
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
$
|
(1,779)
|
(1,875)
|
-
|
(3,654)
|
Evaluation
|
|
|
(6,616)
|
-
|
-
|
(6,616)
|
Exploration
|
|
|
(1,060)
|
-
|
-
|
(1,060)
|
General and
administrative
|
|
|
(7)
|
-
|
(2,752)
|
(2,759)
|
|
|
|
(9,462)
|
(1,875)
|
(2,752)
|
(14,089)
|
Segment income
(loss)
|
|
$
|
(4,971)
|
434
|
(2,752)
|
(7,289)
|
|
|
|
|
|
|
|
Revenues–supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
$
|
-
|
2,309
|
-
|
2,309
|
Toll milling
services–deferred revenue (note 12)
|
|
|
1,505
|
-
|
-
|
1,505
|
Uranium
concentrate sale
|
|
2,986
|
-
|
-
|
2,986
|
|
|
|
$
|
4,491
|
2,309
|
-
|
6,800
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in
thousands)
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
|
|
|
|
|
|
|
|
|
Salaries and
short-term employee benefits
|
$
|
(546)
|
$
|
(545)
|
$
|
(1,644)
|
$
|
(2,168)
|
Share-based
compensation
|
|
(659)
|
|
(825)
|
|
(1,473)
|
|
(1,648)
|
Key
management personnel compensation
|
$
|
(1,205)
|
$
|
(1,370)
|
$
|
(3,117)
|
$
|
(3,816)
|
|
|
Financial
|
|
Fair
|
|
June
30,
|
|
December
31,
|
|
|
Instrument
|
|
Value
|
|
2023
|
|
2022
|
(in
thousands)
|
|
Category(1)
|
|
Hierarchy
|
|
Fair
Value
|
|
Fair
Value
|
|
|
|
|
|
|
|
|
|
Financial
Assets:
|
|
|
|
|
|
|
|
|
Cash and
equivalents
|
|
Category
B
|
|
|
$
|
46,500
|
$
|
50,915
|
Trade and other
receivables
|
|
Category
B
|
|
|
|
5,659
|
|
4,143
|
Investments
|
|
|
|
|
|
|
|
|
Equity
instruments-shares
|
|
Category
A
|
|
Level
1
|
|
8,483
|
|
8,022
|
Equity
instruments-warrants
|
|
Category
A
|
|
Level
2
|
|
157
|
|
87
|
Restricted
cash and equivalents
|
|
|
|
|
|
|
|
|
Elliot Lake
reclamation trust fund
|
|
Category
B
|
|
|
|
3,607
|
|
3,133
|
Credit
facility pledged assets
|
|
Category
B
|
|
|
|
7,972
|
|
7,972
|
|
|
|
|
|
$
|
72,378
|
$
|
74,272
|
|
|
|
|
|
|
|
|
|
Financial
Liabilities:
|
|
|
|
|
|
|
|
|
Account
payable and accrued liabilities
|
|
Category
C
|
|
|
|
10,461
|
|
10,299
|
Debt
obligations
|
|
Category
C
|
|
|
|
514
|
|
576
|
|
|
|
|
|
$
|
10,975
|
$
|
10,875
|