伊凡霍电气公司2025年季度报告

WASHINGTON, DC 20549 Ivanhoe Electric Inc. As of May6, 2025, the registrant had132,590,318shares of common stock, $0.0001 par value per share, outstanding. IVANHOE ELECTRIC INC. Form 10-QFor the Quarter Ended March31, 2025 PART I. FINANCIAL INFORMATION PART I—FINANCIAL INFORMATION IVANHOE ELECTRIC INC. IVANHOE ELECTRIC INC. IVANHOE ELECTRIC INC. Condensed Interim Consolidated Statements of Changes in Equity (Unaudited)(Expressed in thousands of U.S. dollars, except share amounts)Three months ended March 31, 2025 and 2024 IVANHOE ELECTRIC INC. Condensed Interim Consolidated Statements of Cash Flows (Unaudited)(Expressed in thousands of U.S. dollars)Three months ended March 31, 2025 and 2024 IVANHOE ELECTRIC INC. Notes to the Condensed Interim Consolidated Financial Statements 1. Background and basis of preparation: Ivanhoe Electric Inc. (“Ivanhoe Electric” or “the Company”) is a United States company that combines advanced mineral explorationtechnologies with electric metals exploration projects predominantly located in the United States. The Company’s mineral explorationefforts focus on copper as well as other metals including nickel, vanadium, cobalt, platinum group elements, gold and silver. The In addition to mineral projects in the United States, the Company also holds direct and indirect ownership interests, and in some casescontrolling financial interests, in other non-U.S. mineral projects, and in proprietary mineral exploration and minerals-based The Company holds a50% interest in a joint venture with Saudi Arabian Mining Company Ma’aden (“Ma’aden”) to exploreprospective land in Saudi Arabia. The Company conducts the following business activities through certain subsidiaries: •VRB Energy Inc. (“VRB”) develops, manufactures and installs vanadium flow batteries for grid-scale energy storageprimarily in the United States. Ivanhoe Electric had an ownership interest in VRB of90.0% as at March 31, 2025(December31, 2024 —90.0%). VRB also holds a49% interest inVRB Energy System (Beijing) Co., Ltd. (“VRB China”) •Computational Geosciences Inc. (“CGI”), provides data analytics, geophysical modeling, software licensing and artificialintelligence services for the mineral, oil & gas and water exploration industries. Ivanhoe Electric had an ownership interest inCGI of94.3% as at March31, 2025 (December31, 2024 —94.3%). The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Qand do not include all information and disclosures required by generally accepted accounting principles in the United States.Therefore, this information should be read in conjunction with the Company's consolidated financial statements and notes containedon its Form 10-K for the year ended December31, 2024. The information furnished herein reflects all normal recurring entries, that The condensed interim consolidated financial statements have been prepared on a going concern basis, which presumes the realizationof assets and satisfaction of liabilities in the normal course of business. References to “$” refer to United States dollars and “Cdn$” to Canadian dollars. 2. Significant accounting policies: The Company discloses in its consolidated financial statements for the year ended December31, 2024, those accounting policies thatit considers significant in determining its results of operations and financial position. There have been no material changes to, or in the Income taxes: In December2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This updatewas issued to enhance the transparency and decision usefulness of income tax disclosures primarily related to the rate reconciliationand income taxes paid information. The Company adopted ASU 2023-09 on January 1, 2025 and will be required to disclose specific IVANHOE ELECTRIC INC. Notes to the Condensed Interim Consolidated Financial Statements Recent accounting pronouncements not yet adopted: In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income - Expense DisaggregationDisclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This update was issued to improve the disclosuresabout a public business entity’s expenses and address requests from investors for more detailed information about the types of 3. Use of estimates: The preparation of consolidated financial statements requires management of the Company to make estimates and assumptions thataffect the reported amounts of assets and liabilities, the related disclosure of contingent assets and liabilities, and the reported amounts The significant judgments made by management in applying the Company’s accounting policies and the key sources of estimationuncertainty were the same as those applied to the consolidated financial statements for the year ended December31, 2024. 4. Cash and cash equivalents: Of the total cash and cash equiv