3 unchanged sentences
Fixed-rate debt.
−Removed: Our fixed rate debt at March 31, 2025 consists of a convertible bond that has a fixed interest rate of 8.0% per annum and Cordoba’s loan from related party that has a fixed interest rates of 10.0% per annum.
−Removed: The convertible bond and the loan from related party are accounted for at amortized cost.
+Added: Our fixed rate debt at June 30, 2025 consists of a convertible bond that has a fixed interest rate of 8.0% per annum.
+Added: The convertible bond is accounted for at amortized cost.
Any changes in the market interest rates associated with these financial instruments would not impact our net loss, comprehensive loss or future cash flows.
Variable-rate debt.
−Removed: Our variable-rate debt at March 31, 2025 consists of a secured promissory note issued in connection with the acquisition of land at our Santa Cruz project.
+Added: Our variable-rate debt at June 30, 2025 consists of a secured promissory note issued in connection with the acquisition of land at our Santa Cruz Copper Project.
The promissory note has an annual interest rate of U.S.
−Removed: prime plus 1%.
−Removed: At March 31, 2025, three installments of $12.1 million plus accrued interest remain and are due in November 2025, 2026 and 2027.
−Removed: We performed a sensitivity analysis to estimate the impact to interest expense, arising from a 100 basis points adverse movement to the prime rate for the three months ended March 31, 2025.
−Removed: The sensitivity analysis indicated that a hypothetical 100 basis points adverse movement would result in an approximate $0.1 million increase to interest expense and a $0.1 million increase to the Company’s net loss for the three months ended March 31, 2025.
+Added: As at June 30, 2025, three installments of $12.1 million plus accrued interest remain and are due in November 2025, 2026 and 2027.
+Added: We performed a sensitivity analysis to estimate the impact to interest expense, arising from a 100 basis points adverse movement to the prime rate for the three months ended June 30, 2025 and six months ended June 30, 2025.
+Added: The sensitivity analysis indicated that a hypothetical 100 basis points adverse movement would result in an approximate $0.1 million increase to interest expense and a $0.1 million increase to the Company’s net loss for the three months ended June 30, 2025 and in an approximate $0.2 million increase to interest expense and a $0.2 million increase to the Company’s net loss for the six months ended June 30, 2025.
Foreign Currency Risk
5 unchanged sentences
dollar and our foreign currencies fluctuate, we experience foreign exchange gains and losses
−Removed: The carrying amounts of our Colombian Pesos and Canadian dollar denominated monetary assets and liabilities at March 31, 2025 are as follows:
−Removed: March 31, 2025
+Added: The carrying amounts of our Colombian Pesos and Canadian dollar denominated monetary assets and liabilities at June 30, 2025 are as follows:
+Added: June 30, 2025
Colombian Peso Balance (in 000’s USD Equivalent)
6 unchanged sentences
$ (2,002) $ 3,171
−Removed: Three Months Ended March 31,
+Added: Six Months Ended June 30, 2025
Opening exchange rate (1 U.S.
8 unchanged sentences
Appreciation/(devaluation) of Canadian dollar
−Removed: As at March 31, 2025, a 10% depreciation or appreciation of these foreign currencies against the U.S.
−Removed: dollar would have resulted in an approximate $0.5 million decrease or increase in the Company’s net loss for the three months ended March 31, 2025.
+Added: As at June 30, 2025, a 10% depreciation or appreciation of these foreign currencies against the U.S.
+Added: dollar would have resulted in an approximate $0.1 million decrease or increase in the Company’s net loss for the six months ended June 30, 2025.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.