| SEGMENT INFORMATION |
The Company has identified its operating segments based on the internal reports that are reviewed and used by the chief executive officer and the executive management in assessing performance and in determining the allocation of resources. The Company has one operating segment, being the acquisition, exploration and development of uranium properties. Geographically, the Company’s non-current assets and general and administrative expenditure are identified by country, being Canada, the United States, and Australia, with the corporate office in Canada. Geographic disclosure is as follows. | | | | | | | | | | | | | As at December 31, 2025 | | Canada | | United States | | Australia | | Total | Current assets | | $ | 117,888,743 | | $ | 721,059 | | $ | 407,134 | | $ | 119,016,936 | Property and equipment | | | 680,859 | | | 15,132,305 | | | — | | | 15,813,164 | Exploration and evaluation assets | | | 112,337,763 | | | 139,495,657 | | | 27,258,399 | | | 279,091,819 | Other non-current assets | | | — | | | 2,292,210 | | | 744,152 | | | 3,036,362 | Total assets | | $ | 230,907,365 | | $ | 157,641,231 | | $ | 28,409,685 | | $ | 416,958,281 | Total liabilities | | $ | 12,713,435 | | $ | 2,020,014 | | $ | 798,746 | | $ | 15,532,195 |
| | | | | | | | | | | | | As at December 31, 2024 | | Canada | | United States | | Australia | | Total | Current assets | | $ | 59,282,638 | | $ | 193,709 | | $ | 110,056 | | $ | 59,586,403 | Property and equipment | | | 689,410 | | | 15,542,892 | | | — | | | 16,232,302 | Exploration and evaluation assets | | | 95,738,413 | | | 141,027,791 | | | 25,524,894 | | | 262,291,098 | Other non-current assets | | | — | | | 2,314,201 | | | 411,019 | | | 2,725,220 | Total assets | | $ | 155,710,461 | | $ | 159,078,593 | | $ | 26,045,969 | | $ | 340,835,023 | Total liabilities | | $ | 35,220,994 | | $ | 1,837,525 | | $ | 613,345 | | $ | 37,671,864 |
18. | SEGMENT INFORMATION (continued) |
| | | | | | | | | | | | | | | | | | United | | | | | | | Year ended December 31, 2025 | | Canada | | States | | Australia | | Total | Share-based compensation | | $ | 6,261,824 | | $ | — | | $ | 87,092 | | $ | 6,348,916 | Administrative salaries, contractor and director fees | | | 4,264,052 | | | 78,492 | | | 94,114 | | | 4,436,658 | Investor relations | | | 1,640,925 | | | — | | | — | | | 1,640,925 | Office and administrative | | | 970,030 | | | 89,040 | | | 32,164 | | | 1,091,234 | Professional and consultant fees | | | 3,539,604 | | | 408,770 | | | — | | | 3,948,374 | Travel | | | 638,326 | | | 8,079 | | | — | | | 646,405 | Public company costs | | | 1,312,607 | | | — | | | — | | | 1,312,607 | Total general and administrative expenditure | | $ | 18,627,368 | | $ | 584,381 | | $ | 213,370 | | $ | 19,425,119 |
| | | | | | | | | | | | | | | | | | United | | | | | | | Year ended December 31, 2024 | | Canada | | States | | Australia | | Total | Share-based compensation | | $ | 5,181,245 | | $ | — | | $ | 103,900 | | $ | 5,285,145 | Administrative salaries, contractor and director fees | | | 4,972,700 | | | 74,914 | | | 72,413 | | | 5,120,027 | Investor relations | | | 897,110 | | | — | | | — | | | 897,110 | Office and administrative | | | 637,603 | | | 132,386 | | | 33,483 | | | 803,472 | Professional and consultant fees | | | 3,653,186 | | | 783,468 | | | — | | | 4,436,654 | Travel | | | 565,145 | | | — | | | — | | | 565,145 | Public company costs | | | 559,212 | | | — | | | — | | | 559,212 | Total general and administrative expenditure | | $ | 16,466,201 | | $ | 990,768 | | $ | 209,796 | | $ | 17,666,765 |
The Company disposed of all net assets in the Argentina reporting segment in the year ended December 31, 2024 and all associated income and expenses in the comparative period were classified as discontinued operations (Note 6a).
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