Share capital (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| IfrsStatementLineItems [Line Items] |
|
| Schedule of common shares |
Schedule
of common shares
| | |
Number
of Shares | | |
Amount | |
| Authorized
– Unlimited number of common shares | |
| | | |
| | |
| | |
| | | |
| | |
| Issued
and outstanding | |
| | | |
| | |
| Outstanding
at December 31, 2023 | |
| 155,925,779 | | |
$ | 127,359 | |
| Shares
issued for cash | |
| 12,259,413 | | |
| 8,320 | |
| Shares
issued for settlement of debt | |
| 1,875,857 | | |
| 1,572 | |
| Shares
issued for conversion of debt | |
| 6,886,167 | | |
| 9,265 | |
| Outstanding
at December 31, 2024 | |
| 176,947,216 | | |
$ | 146,516 | |
| Shares
issued for cash, net of issuance costs | |
| 49,606,881 | | |
| 285,426 | |
| Shares
issued for exercise of stock options | |
| 8,054,911 | | |
| 6,599 | |
| Shares
issued for exercise of CDI options | |
| 13,931,501 | | |
| 54,325 | |
| Shares
issued for exercise of warrants | |
| 6,321,538 | | |
| 10,037 | |
| Shares
issued for settlement of RSUs | |
| 786,089 | | |
| 2,837 | |
| Shares
issued for settlement of debt | |
| 66,667 | | |
| 90 | |
| Shares
issued for conversion of debt | |
| 5,714,120 | | |
| 49,749 | |
| Shares
issued on acquisition of 100% of US Tungsten Inc. | |
| 1,347,305 | | |
| 12,463 | |
| Outstanding
at December 31, 2025 | |
| 262,776,228 | | |
$ | 568,042 | |
|
| Schedule of warrants |
For
the years ended December 31, 2025 and 2024, the outstanding warrants and CDI options, all of which are exercisable, are summarized as
follows:
Schedule
of warrants
| | |
Number
of CDI Options | | |
Number
of Warrants | | |
Total
Number Outstanding | |
| Warrants
outstanding at December 31, 2023 | |
| 5,626,363 | | |
| 5,325,114 | | |
| 10,951,477 | |
| Warrants
issued | |
| 7,356,632 | | |
| 4,902,782 | | |
| 12,259,414 | |
| Warrants
exercised | |
| - | | |
| - | | |
| - | |
| Warrants
expired | |
| (4,907,424 | ) | |
| (476,190 | ) | |
| (5,383,614 | ) |
| Warrants
outstanding at December 31, 2024 | |
| 8,075,571 | | |
| 9,751,706 | | |
| 17,827,277 | |
| Warrants
issued | |
| 7,222,222 | | |
| 1,684,666 | | |
| 8,906,888 | |
| Warrants
exercised | |
| (13,931,501 | ) | |
| (6,321,538 | ) | |
| (20,253,039 | ) |
| Warrants
expired | |
| - | | |
| (1,197,090 | ) | |
| (1,197,090 | ) |
| Warrants
outstanding at December 31, 2025 | |
| 1,366,292 | | |
| 3,917,744 | | |
| 5,284,036 | |
|
| Schedule of exercise prices of outstanding stock options |
The
following table discloses the average exercise price, number of options and contractual life as at September 30, 2025:
Schedule
of exercise prices of outstanding stock options
Range
of Exercise
Prices | | |
Number
Outstanding | | |
Number
Exercisable | | |
Weighted
Average
Remaining
Contractual
Life | | |
Weighted
Average
Exercise
Price | |
| $ | 0.78 - $ 1.79 | | |
| 4,866,648 | | |
| 4,866,648 | | |
| 2.77 | | |
$ | 1.03 | |
| $ | 2.43
- $ 3.86 | | |
| 2,064,664 | | |
| 1,878,262 | | |
| 4.29 | | |
$ | 3.55 | |
| $ | 8.93 | | |
| 200,000 | | |
| 200,000 | | |
| 4.91 | | |
$ | 8.93 | |
| Total Options | | |
| 7,131,312 | | |
| 6,944,910 | | |
| 3.27 | | |
$ | 1.98 | |
|
| Schedule of share options activity |
For
the year ended December 31, 2025 and 2024, the outstanding stock options are summarized as follows:
Schedule
of share options activity
| | |
Number
of
Stock
Options | |
| Options
outstanding at December 31, 2023 | |
| 11,383,334 | |
| Options
granted | |
| 3,803,334 | |
| Options
expired | |
| (666,667 | ) |
| Options
outstanding at December 31, 2024 | |
| 14,520,001 | |
| Options
granted | |
| 2,564,663 | |
| Options
exercised | |
| (8,054,911 | ) |
| Options forfeited upon cashless exercise | |
| (1,831,775 | ) |
| Options
expired | |
| (66,666 | ) |
| Options
outstanding at December 31, 2025 | |
| 7,131,312 | |
|
| Schedule of restricted stock units |
For
the year ended December 31, 2025 and 2024, the outstanding RSUs, are summarized as follows:
Schedule
of restricted stock units
| | |
Number
of RSUs | |
| RSUs
outstanding at December 31, 2023 | |
| 1,166,667 | |
| RSUs
granted | |
| 1,400,000 | |
| RSUs
outstanding at December 31, 2024 | |
| 2,566,667 | |
| RSUs
granted | |
| 1,497,195 | |
| RSUs
settled | |
| (786,089 | ) |
| RSUs
outstanding at December 31, 2025 | |
| 3,277,773 | |
|
| Schedule of RSUs and contractual life |
The
following table discloses the number of RSUs and contractual life as at December 31, 2025:
Schedule of RSUs and contractual life
Range
of Exercise
Prices | |
Number
Outstanding | | |
Number Vested | | |
Weighted
Average
Remaining Contractual
Life | | |
Weighted
Average
Exercise
Price | |
| $
0.78 - $ 2.46 | |
| 1,766,665 | | |
| 1,581,095 | | |
| 1.43 | | |
$ | 1.01 | |
| $ 3.27
- $ 4.48 | |
| 799,998 | | |
| 717,354 | | |
| 2.27 | | |
$ | 3.38 | |
| $
5.91 - $ 8.73 | |
| 711,110 | | |
| 733,332 | | |
| 2.70 | | |
$ | 6.36 | |
| Total
RSUs | |
| 3,277,773 | | |
| 3,031,781 | | |
| 1.91 | | |
$ | 2.75 | |
|
| CHESS depositary interests [member] |
|
| IfrsStatementLineItems [Line Items] |
|
| Schedule of exercise prices of outstanding stock options |
The
following table discloses the average exercise price, number of CDI options and contractual life as at December 31, 2025:
Schedule
of average exercise price, number of CDI options and contractual life
Range
of Exercise
Prices | |
Number
Outstanding
and
Exercisable | | |
Weighted
Average
Remaining
Contractual
Life | | |
Weighted
Average
Exercise
Price | |
| $
1.68 (AUD $1.88) | |
| 1,366,292 | | |
| 2.04 | | |
$ | 1.68 | |
| Total
CDI Options | |
| 1,366,292 | | |
| 2.04 | | |
$ | 1.68 | |
The
following table discloses the average exercise price, number of warrants and contractual life as at December 31, 2025:
Range
of Exercise
Prices | |
Number
Outstanding
and
Exercisable | | |
Weighted
Average
Remaining
Contractual
Life | | |
Weighted
Average
Exercise
Price | |
| $
0.68 - $ 0.90 | |
| 1,481,480 | | |
| 0.82 | | |
$ | 0.79 | |
| $ 1.11
- $ 1.13 | |
| 1,984,931 | | |
| 0.21 | | |
$ | 1.11 | |
| $
1.71 - $ 1.85 | |
| 451,333 | | |
| 2.08 | | |
$ | 1.71 | |
| Total
Warrants | |
| 3,917,744 | | |
| 0.66 | | |
$ | 1.06 | |
|