Exhibit 99.1
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL
POSITION
(Unaudited -
Expressed in thousands of Canadian dollars (“CAD”)
except for share amounts)
|
||||||
|
|
|
|
At June
30
2021
|
|
At December
31
2020
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
|
Cash and cash
equivalents (note 4)
|
|
|
$
|
84,852
|
$
|
24,992
|
Trade and other
receivables (note 5)
|
|
|
|
4,639
|
|
3,374
|
Inventories (note
6)
|
|
|
|
3,016
|
|
3,015
|
Investments-equity
instruments (note 7)
|
|
|
|
21,847
|
|
16,657
|
Prepaid expenses
and other
|
|
|
|
786
|
|
1,373
|
|
|
|
|
115,140
|
|
49,411
|
Non-Current
|
|
|
|
|
|
|
Inventories-ore
in stockpiles (note 6)
|
|
|
|
2,098
|
|
2,098
|
Investments-equity
instruments (note 7)
|
|
|
|
245
|
|
293
|
Investments-uranium
(note 7)
|
|
|
|
91,510
|
|
-
|
Prepaid expenses
and other
|
|
|
|
312
|
|
-
|
Restricted cash
and investments (note 8)
|
|
|
|
12,336
|
|
12,018
|
Property, plant
and equipment (note 9)
|
|
|
|
256,484
|
|
256,870
|
Total
assets
|
|
|
$
|
478,125
|
$
|
320,690
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
|
Accounts payable
and accrued liabilities (note 10)
|
|
|
$
|
17,069
|
$
|
7,178
|
Current portion
of long-term liabilities:
|
|
|
|
|
|
|
Deferred revenue
(note 11)
|
|
|
|
4,656
|
|
3,478
|
Post-employment
benefits (note 12)
|
|
|
|
120
|
|
120
|
Reclamation
obligations (note 13)
|
|
|
|
802
|
|
802
|
Other liabilities
(note 15)
|
|
|
|
234
|
|
262
|
|
|
|
|
22,881
|
|
11,840
|
Non-Current
|
|
|
|
|
|
|
Deferred revenue
(note 11)
|
|
|
|
32,786
|
|
33,139
|
Post-employment
benefits (note 12)
|
|
|
|
1,192
|
|
1,241
|
Reclamation
obligations (note 13)
|
|
|
|
37,870
|
|
37,618
|
Share purchase
warrants liability (note 14)
|
|
|
|
19,066
|
|
-
|
Other liabilities
(note 15)
|
|
|
|
387
|
|
375
|
Deferred income
tax liability
|
|
|
|
8,260
|
|
9,192
|
Total
liabilities
|
|
|
|
122,442
|
|
93,405
|
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
|
Share capital
(note 16)
|
|
|
|
1,506,888
|
|
1,366,710
|
Contributed
surplus (note 17)
|
|
|
|
66,843
|
|
67,387
|
Deficit
|
|
|
|
(1,219,828)
|
|
(1,208,587)
|
Accumulated other
comprehensive income (note 18)
|
|
|
|
1,780
|
|
1,775
|
Total
equity
|
|
|
|
355,683
|
|
227,285
|
Total
liabilities and equity
|
|
|
$
|
478,125
|
$
|
320,690
|
|
|
|
|
|
|
|
Issued and
outstanding common shares (in thousands) (note 16)
|
|
805,711
|
|
678,982
|
||
Commitments
and contingencies (note 24)
|
|
|
|
|
|
|
Subsequent
events (note 25)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The accompanying
notes are integral to the condensed interim consolidated financial
statements
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND
COMPREHENSIVE INCOME (LOSS)
|
||||||||
(Unaudited -
Expressed in thousands of CAD dollars except for share and per
share amounts)
|
||||||||
|
|
Three Month
Ended
June 30
|
|
Six Months
Ended
June 30
|
||||
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REVENUES (note 20)
|
$
|
4,626
|
$
|
2,926
|
$
|
7,122
|
$
|
7,586
|
|
|
|
|
|
|
|
|
|
EXPENSES
|
|
|
|
|
|
|
|
|
Operating
expenses (note 19, 20)
|
|
(3,691)
|
|
(2,048)
|
|
(5,579)
|
|
(5,368)
|
Evaluation (note
20)
|
|
(6,381)
|
|
(364)
|
|
(9,142)
|
|
(1,855)
|
Exploration (note
20)
|
|
(528)
|
|
(481)
|
|
(1,876)
|
|
(2,181)
|
General and
administrative (note 20)
|
|
(2,362)
|
|
(1,421)
|
|
(4,987)
|
|
(3,609)
|
Other income
(expense) (note 19)
|
|
6,348
|
|
2,163
|
|
4,307
|
|
(1,029)
|
|
|
(6,614)
|
|
(2,151)
|
|
(17,277)
|
|
(14,042)
|
Income
(loss) before net finance expense
|
|
(1,988)
|
|
775
|
|
(10,155)
|
|
(6,456)
|
Finance expense,
net (note 19)
|
|
(1,015)
|
|
(1,061)
|
|
(2,040)
|
|
(2,124)
|
Loss before
taxes
|
|
(3,003)
|
|
(286)
|
|
(12,195)
|
|
(8,580)
|
Income tax
recovery (expense) (note 22)
|
|
|
|
|
|
|
|
|
Deferred
|
|
646
|
|
(757)
|
|
954
|
|
874
|
Net loss for the
period
|
$
|
(2,357)
|
$
|
(1,043)
|
$
|
(11,241)
|
$
|
(7,706)
|
|
|
|
|
|
|
|
|
|
Other
comprehensive income (loss) (note 18):
|
|
|
|
|
|
|
|
|
Items that may be
reclassified to income (loss):
|
|
|
|
|
|
|
|
|
Foreign currency
translation change
|
|
2
|
|
7
|
|
5
|
|
(7)
|
Comprehensive
loss for the period
|
$
|
(2,355)
|
$
|
(1,036)
|
$
|
(11,236)
|
$
|
(7,713)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted
net loss per share:
|
|
|
|
|
|
|
|
|
All
operations
|
$
|
(0.00)
|
$
|
(0.00)
|
$
|
(0.01)
|
$
|
(0.01)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average
number of shares outstanding (in thousands):
|
|
|
|
|
||||
Basic and
diluted
|
|
805,061
|
|
621,233
|
|
759,743
|
|
609,216
|
|
|
|
|
|
|
|
|
|
The accompanying
notes are integral to the condensed interim consolidated financial
statements
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
||||||||
(Unaudited -
Expressed in thousands of CAD dollars)
|
||||||||
|
|
|
|
Six
Months Ended
June
30
|
||||
|
|
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share capital (note 16)
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
$
|
1,366,710
|
$
|
1,335,467
|
Shares issued for
cash, net of issue costs
|
|
|
|
|
|
134,050
|
|
6,878
|
Share options
exercised-cash
|
|
|
|
|
|
4,289
|
|
-
|
Share options
exercised-fair value adjustment
|
|
|
|
|
|
1,473
|
|
-
|
Share units
exercised-fair value adjustment
|
|
|
|
|
|
366
|
|
80
|
Balance-end of
period
|
|
|
|
|
|
1,506,888
|
|
1,342,425
|
|
|
|
|
|
|
|
|
|
Share purchase warrants
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
-
|
|
435
|
Warrants
expired
|
|
|
|
|
|
-
|
|
(435)
|
Balance-end of
period
|
|
|
|
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
Contributed surplus
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
67,387
|
|
65,417
|
Share-based
compensation expense (note 17)
|
|
|
|
|
|
1,295
|
|
904
|
Share options
exercised-fair value adjustment
|
|
|
|
|
|
(1,473)
|
|
-
|
Share units
exercised-fair value adjustment
|
|
|
|
|
|
(366)
|
|
(80)
|
Warrants
expired
|
|
|
|
|
|
-
|
|
435
|
Balance-end of
period
|
|
|
|
|
|
66,843
|
|
66,676
|
|
|
|
|
|
|
|
|
|
Deficit
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
(1,208,587)
|
|
(1,192,304)
|
Net
loss
|
|
|
|
|
|
(11,241)
|
|
(7,706)
|
Balance-end of
period
|
|
|
|
|
|
(1,219,828)
|
|
(1,200,010)
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive income (note 18)
|
|
|
|
|
|
|
||
Balance-beginning
of period
|
|
|
|
|
|
1,775
|
|
1,134
|
Foreign currency
translation
|
|
|
|
|
|
5
|
|
(7)
|
Balance-end of
period
|
|
|
|
|
|
1,780
|
|
1,127
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Equity
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
227,285
|
|
210,149
|
Balance-end of
period
|
|
|
|
|
$
|
355,683
|
$
|
210,218
|
|
|
|
|
|
|
|
|
|
The accompanying
notes are integral to the condensed interim consolidated financial
statements
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW
|
||||||||
(Unaudited -
Expressed in thousands of CAD dollars)
|
||||||||
|
|
|
|
Six
Months Ended
June
30
|
||||
CASH PROVIDED BY (USED IN):
|
|
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
OPERATING ACTIVITIES
|
|
|
|
|
|
|
|
|
Net loss for the
period
|
|
|
|
|
$
|
(11,241)
|
$
|
(7,706)
|
Items not
affecting cash and cash equivalents:
|
|
|
|
|
|
|
|
|
Depletion,
depreciation, amortization and accretion
|
|
|
|
|
|
3,079
|
|
3,527
|
Share-based
compensation (note 17)
|
|
|
|
|
|
1,295
|
|
904
|
Recognition
of deferred revenue (note 11)
|
|
|
|
|
|
(719)
|
|
(1,115)
|
Gains on
property, plant and equipment disposals (note 19)
|
|
|
|
(2)
|
|
(407)
|
||
Fair value
change losses (gains):
|
|
|
|
|
|
|
||
Investments-equity
instruments (note 19)
|
|
|
|
(5,142)
|
|
961
|
||
Investments-uranium
(note 19)
|
|
|
|
(7,534)
|
|
-
|
||
Share warrant
liabilities (note 19)
|
|
|
|
5,832
|
|
-
|
||
Warrant
liabilities issue costs expensed (note 16)
|
|
|
|
791
|
|
-
|
||
Foreign exchange
losses (gains) (note 19)
|
|
|
|
|
|
1,618
|
|
-
|
Deferred income
tax recovery
|
|
|
|
|
|
(954)
|
|
(874)
|
Post-employment
benefit payments (note 12)
|
|
|
|
|
|
(61)
|
|
(38)
|
Reclamation
obligation expenditures ( (note 13)
|
|
|
|
|
|
(420)
|
|
(427)
|
Change in
non-cash working capital items (note 19)
|
|
|
|
|
|
618
|
|
(1,628)
|
Net
cash used in operating activities
|
|
|
|
|
|
(12,840)
|
|
(6,803)
|
|
|
|
|
|
|
|
|
|
INVESTING ACTIVITIES
|
|
|
|
|
|
|
|
|
Sale of
investments-equity instruments (note 7)
|
|
|
|
|
|
-
|
|
108
|
Purchase of
investments-uranium (note 7)
|
|
|
|
|
|
(76,390)
|
|
-
|
Expenditures on
property, plant and equipment (note 9)
|
|
|
|
(355)
|
|
(139)
|
||
Proceeds
on sale of property, plant and equipment
|
|
|
|
|
|
2
|
|
137
|
Increase
in restricted cash and investments
|
|
|
|
(318)
|
|
(377)
|
||
Net
cash used in investing activities
|
|
|
|
|
|
(77,061)
|
|
(271)
|
|
|
|
|
|
|
|
|
|
FINANCING ACTIVITIES
|
|
|
|
|
|
|
|
|
Issuance of debt
obligations (note 15)
|
|
|
|
|
|
34
|
|
-
|
Repayment
of debt obligations (note 15)
|
|
|
|
|
|
(124)
|
|
(345)
|
Proceeds
from unit issues, net of issue costs (note 16)
|
|
|
|
135,630
|
|
-
|
||
Proceeds
from other share issues, net of issue costs (note 16)
|
|
|
|
|
|
10,863
|
|
6,878
|
Share
option exercise proceeds (note 16)
|
|
|
|
|
|
4,289
|
|
-
|
Net
cash provided by financing activities
|
|
|
|
|
|
150,692
|
|
6,533
|
|
|
|
|
|
|
|
|
|
Increase
(decrease) in cash and cash equivalents
|
|
|
|
|
|
60,791
|
|
(541)
|
Foreign
exchange effect on cash and cash equivalents
|
|
|
|
|
|
(931)
|
|
-
|
Cash
and cash equivalents, beginning of period
|
|
|
|
|
|
24,992
|
|
8,190
|
Cash
and cash equivalents, end of period
|
|
|
|
|
$
|
84,852
|
$
|
7,649
|
|
||||||||
The accompanying
notes are integral to the condensed interim consolidated financial
statements
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED JUNE 30, 2021
|
|
(Unaudited -
Expressed in CAD dollars except for shares and per share
amounts)
|
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At June
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
Cash
|
|
|
$
|
2,175
|
$
|
12,004
|
Cash in MLJV and
MWJV
|
|
|
|
1,203
|
|
540
|
Cash
equivalents
|
|
|
|
81,474
|
|
12,448
|
|
|
|
$
|
84,852
|
$
|
24,992
|
|
|
|
|
At June
30
|
|
At December
31
|
|
(in thousands of CAD
dollars)
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Trade
receivables
|
|
|
$
|
4,315
|
$
|
2,644
|
|
Receivables in
MLJV and MWJV
|
|
|
|
156
|
|
394
|
|
Sales tax
receivables
|
|
|
|
166
|
|
154
|
|
Sundry
receivables
|
|
|
|
2
|
|
182
|
|
|
|
|
$
|
4,639
|
$
|
3,374
|
|
|
|
|
At June
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
Inventory of ore
in stockpiles
|
|
|
$
|
2,098
|
$
|
2,098
|
Mine and mill
supplies in MLJV
|
|
|
|
3,016
|
|
3,015
|
|
|
|
$
|
5,114
|
$
|
5,113
|
|
|
|
|
|
|
|
Inventories-by
balance sheet presentation:
|
|
|
|
|
|
|
Current
|
|
|
$
|
3,016
|
$
|
3,015
|
Long-term-ore in
stockpiles
|
|
|
|
2,098
|
|
2,098
|
|
|
|
$
|
5,114
|
$
|
5,113
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At June
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
Investments:
|
|
|
|
|
|
|
Equity
instruments
|
|
|
|
|
|
|
Shares
|
|
|
$
|
21,847
|
$
|
16,657
|
Warrants
|
|
|
|
245
|
|
293
|
Uranium
|
|
|
|
91,510
|
|
-
|
|
|
|
$
|
113,602
|
$
|
16,950
|
|
|
|
|
|
|
|
Investments-by
balance sheet presentation:
|
|
|
|
|
|
|
Current
|
|
|
$
|
21,847
|
$
|
16,657
|
Long-term
|
|
|
|
91,755
|
|
293
|
|
|
|
$
|
113,602
|
$
|
16,950
|
(in thousands of
CAD dollars)
|
|
Equity
Instruments
|
|
Physical
Uranium
|
|
Investments
|
|
|
|
|
|
|
|
Balance -
December 31, 2020
|
$
|
16,950
|
$
|
-
|
$
|
16,950
|
Purchase of
investments
|
|
-
|
|
83,976
|
|
83,976
|
Fair value gain
to profit and loss (note 18)
|
|
5,142
|
|
7,534
|
|
12,676
|
Balance –
June 30, 2021
|
$
|
22,092
|
$
|
91,510
|
$
|
113,602
|
|
|
|
|
At June
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
$
|
12,336
|
$
|
2,883
|
Investments
|
|
|
|
-
|
|
9,135
|
|
|
|
$
|
12,336
|
$
|
12,018
|
Restricted cash
and investments-by item:
|
|
|
|
|
|
|
Elliot Lake
reclamation trust fund
|
|
|
$
|
3,201
|
$
|
2,883
|
Letters of credit
facility pledged assets
|
|
|
|
9,000
|
|
9,000
|
Letters of credit
additional collateral
|
|
|
|
135
|
|
135
|
|
|
|
$
|
12,336
|
$
|
12,018
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
Plant
and Equipment
|
|
Mineral
|
|
Total
|
||
(in thousands of
CAD dollars)
|
|
Owned
|
|
Right-of-Use
|
|
Properties
|
|
PP&E
|
|
|
|
|
|
|
|
|
|
Cost:
|
|
|
|
|
|
|
|
|
Balance –
December 31, 2020
|
$
|
106,087
|
$
|
891
|
$
|
179,743
|
$
|
286,721
|
Additions
|
|
324
|
|
83
|
|
22
|
|
429
|
Disposals
|
|
(117)
|
|
-
|
|
-
|
|
(117)
|
Recoveries
|
|
-
|
|
-
|
|
(1)
|
|
(1)
|
Balance
– June 30, 2021
|
$
|
106,294
|
$
|
974
|
$
|
179,764
|
$
|
287,032
|
|
|
|
|
|
|
|
|
|
Accumulated
amortization, depreciation:
|
|
|
|
|
|
|
|
|
Balance –
December 31, 2020
|
$
|
(29,495)
|
$
|
(356)
|
$
|
-
|
$
|
(29,851)
|
Amortization
|
|
(140)
|
|
-
|
|
-
|
|
(140)
|
Depreciation
|
|
(574)
|
|
(100)
|
|
-
|
|
(674)
|
Disposals
|
|
117
|
|
-
|
|
-
|
|
117
|
Balance
– June 30, 2021
|
$
|
(30,092)
|
$
|
(456)
|
$
|
-
|
$
|
(30,548)
|
|
|
|
|
|
|
|
|
|
Carrying
value:
|
|
|
|
|
|
|
|
|
Balance –
December 31, 2020
|
$
|
76,592
|
$
|
535
|
$
|
179,743
|
$
|
256,870
|
Balance –
June 30, 2021
|
$
|
76,202
|
$
|
518
|
$
|
179,764
|
$
|
256,484
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At June
30
|
|
At December
31
|
|
(in thousands of
CAD dollars)
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Trade
payables
|
|
|
$
|
4,531
|
$
|
2,513
|
|
Trade payables
– uranium investments
|
|
|
|
7,586
|
|
-
|
|
Payables in MLJV
and MWJV
|
|
|
|
4,197
|
|
3,719
|
|
Other
payables
|
|
|
|
755
|
|
946
|
|
|
|
|
$
|
17,069
|
$
|
7,178
|
|
|
|
|
At June
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
Deferred revenue
– pre-sold toll milling:
|
|
|
|
|
|
|
CLJV toll milling
– APG
|
|
|
$
|
37,442
|
$
|
36,617
|
|
|
|
$
|
37,442
|
$
|
36,617
|
|
|
|
|
|
|
|
Deferred
revenue-by balance sheet presentation:
|
|
|
|
|
|
|
Current
|
|
|
$
|
4,656
|
$
|
3,478
|
Non-current
|
|
|
|
32,786
|
|
33,139
|
|
|
|
$
|
37,442
|
$
|
36,617
|
(in thousands of
CAD dollars)
|
|
|
|
|
|
Deferred
Revenue
|
|
|
|
|
|
|
|
Balance -
December 31, 2020
|
|
|
|
|
$
|
36,617
|
Accretion (note
19)
|
|
|
|
|
|
1,544
|
Revenue
recognized during the period (note 20)
|
|
|
|
|
|
(719)
|
Balance –
June 30, 2021
|
|
|
|
|
$
|
37,442
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At June
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
Accrued benefit
obligation
|
|
|
$
|
1,312
|
$
|
1,361
|
|
|
|
$
|
1,312
|
$
|
1,361
|
|
|
|
|
|
|
|
Post-employment
benefits-by balance sheet presentation:
|
|
|
|
|
||
Current
|
|
|
$
|
120
|
$
|
120
|
Non-current
|
|
|
|
1,192
|
|
1,241
|
|
|
|
$
|
1,312
|
$
|
1,361
|
(in thousands of
CAD dollars)
|
|
|
|
|
|
Post-Employment
Benefits
|
|
|
|
|
|
|
|
Balance -
December 31, 2020
|
|
|
|
|
$
|
1,361
|
Accretion (note
19)
|
|
|
|
|
|
12
|
Benefits
paid
|
|
|
|
|
|
(61)
|
Balance –
June 30, 2021
|
|
|
|
|
$
|
1,312
|
|
|
|
|
At June
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2020
|
|
2020
|
|
|
|
|
|
|
|
Reclamation
obligations-by location:
|
|
|
|
|
|
|
Elliot
Lake
|
|
|
$
|
21,481
|
$
|
21,523
|
McClean and
Midwest Joint Ventures
|
|
|
|
17,169
|
|
16,875
|
Other
|
|
|
|
22
|
|
22
|
|
|
|
$
|
38,672
|
$
|
38,420
|
|
|
|
|
|
|
|
Reclamation
obligations-by balance sheet presentation:
|
|
|
|
|
||
Current
|
|
|
$
|
802
|
$
|
802
|
Non-current
|
|
|
|
37,870
|
|
37,618
|
|
|
|
$
|
38,672
|
$
|
38,420
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
(in thousands of
CAD dollars)
|
|
|
|
|
|
Reclamation
Obligations
|
|
|
|
|
|
|
|
Balance -
December 31, 2020
|
|
|
|
|
$
|
38,420
|
Accretion (note
19)
|
|
|
|
|
|
672
|
Expenditures
incurred
|
|
|
|
|
|
(420)
|
Balance –
June 30, 2021
|
|
|
|
|
$
|
38,672
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
Number
of
|
|
Warrant
|
(in thousands of
CAD dollars except warrant amounts)
|
Warrants
|
|
Liability
|
|
|
|
|
Balance -
December 31, 2020
|
-
|
$
|
-
|
Warrants issued
on February 19, 2021
|
15,796,975
|
|
3,499
|
Warrants issued
on March 22, 2021
|
39,215,000
|
|
9,735
|
Change in fair
value estimates
|
-
|
|
5,832
|
Balance –
June 30, 2021
|
55,011,975
|
$
|
19,066
|
|
|
|
|
At June
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
Debt
obligations:
|
|
|
|
|
|
|
Lease
liabilities
|
|
|
$
|
558
|
$
|
582
|
Loan
liabilities
|
|
|
|
63
|
|
33
|
Flow-through
share premium obligation (note 17)
|
|
|
|
-
|
|
22
|
|
|
|
$
|
621
|
$
|
637
|
|
|
|
|
|
|
|
Other
liabilities-by balance sheet presentation:
|
|
|
|
|
||
Current
|
|
|
$
|
234
|
$
|
262
|
Non-current
|
|
|
|
387
|
|
375
|
|
|
|
$
|
621
|
$
|
637
|
|
|
|
Lease
|
|
Loan
|
|
Total
Debt
|
||
(in thousands of
CAD dollars)
|
|
|
|
Liabilitites
|
|
Liabilities
|
|
Obligations
|
|
|
|
|
|
|
|
|
|
|
|
Balance –
December 31, 2020
|
|
|
$
|
582
|
$
|
33
|
$
|
615
|
|
Accretion (note
19)
|
|
|
|
24
|
|
-
|
|
24
|
|
Additions
|
|
|
|
72
|
|
34
|
|
106
|
|
Repayments
|
|
|
|
(120)
|
|
(4)
|
|
(124)
|
|
Balance
– June 30, 2021
|
|
|
$
|
558
|
$
|
63
|
$
|
621
|
|
|
|
Lease
|
|
Loan
|
|
Total
Debt
|
||
(in thousands of
CAD dollars)
|
|
|
|
Liabilitites
|
|
Liabilities
|
|
Obligations
|
|
|
|
|
|
|
|
|
|
|
|
Maturity analysis
– contractual undiscounted cash flows:
|
|
|
|
|
|
|
|||
Next 12
months
|
|
|
$
|
217
|
$
|
17
|
$
|
234
|
|
One to five
years
|
|
|
|
431
|
|
52
|
|
483
|
|
More than five
years
|
|
|
|
-
|
|
-
|
|
-
|
|
Total obligation
– June 30, 2021 – undiscounted
|
|
648
|
|
69
|
|
717
|
|||
Present value
discount adjustment
|
|
|
|
(90)
|
|
(6)
|
|
(96)
|
|
Total
obligation – June 30, 2021 – discounted
|
|
|
$
|
558
|
$
|
63
|
$
|
621
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
Number
of
|
|
|
|
Common
|
|
Share
|
(in thousands of
CAD dollars except share amounts)
|
Shares
|
|
Capital
|
|
|
|
|
Balance -
December 31, 2020
|
678,981,882
|
$
|
1,366,710
|
Issued for
cash:
|
|
|
|
Unit issue
proceeds – total
|
110,023,950
|
|
144,214
|
Less: allocation
to share warrants liability (note 14)
|
-
|
|
(13,234)
|
Unit issue costs
- total
|
-
|
|
(8,584)
|
Less: allocation
to share warrants issue expense
|
-
|
|
791
|
Other share issue
proceeds – total
|
10,156,186
|
|
11,914
|
Less: other share
issue costs
|
-
|
|
(1,051)
|
Share option
exercises
|
5,918,248
|
|
4,289
|
Share option
exercises – fair value adjustment
|
-
|
|
1,473
|
Share units
exercises – fair value adjustment
|
630,499
|
|
366
|
|
126,728,883
|
|
140,178
|
Balance –
June 30, 2021
|
805,710,765
|
$
|
1,506,888
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in thousands of
CAD dollars)
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Share based
compensation expense for:
|
|
|
|
|
|
|
|
|
Stock
options
|
$
|
(420)
|
$
|
(139)
|
$
|
(615)
|
$
|
(296)
|
RSUs
|
|
(457)
|
|
(259)
|
|
(663)
|
|
(487)
|
PSUs
|
|
(43)
|
|
(23)
|
|
(17)
|
|
(121)
|
Share
based compensation expense
|
$
|
(920)
|
$
|
(421)
|
$
|
(1,295)
|
$
|
(904)
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
|
|
|
|
|
Weighted-
|
|
|
|
|
|
|
|
|
|
Average
|
|
|
|
|
|
|
|
|
|
Exercise
|
|
|
|
|
|
|
|
Number
of
|
|
Price
per
|
|
|
|
|
|
|
|
Common
|
|
Share
|
|
|
|
|
|
|
|
Shares
|
|
(CAD)
|
|
|
|
|
|
|
|
|
|
|
Stock options
outstanding – December 31, 2020
|
|
|
|
15,077,243
|
$
|
0.67
|
|||
Grants
|
|
|
|
|
|
|
3,969,000
|
|
1.27
|
Exercises
(1)
|
|
|
|
|
|
|
(5,918,248)
|
|
0.72
|
Expiries
|
|
|
|
|
|
|
(15,000)
|
|
0.64
|
Forfeitures
|
|
|
|
|
|
|
(693,000)
|
|
0.69
|
Stock options
outstanding – June 30, 2021
|
|
|
|
12,419,995
|
$
|
0.83
|
|||
Stock options
exercisable – June 30, 2021
|
|
|
|
6,863,995
|
$
|
0.68
|
|
|
|
|
|
Weighted
|
|
|
|
Weighted-
|
|
|
|
|
|
Average
|
|
|
|
Average
|
|
|
|
|
|
Remaining
|
|
|
|
Exercise
|
Range of
Exercise
|
|
|
|
|
Contractual
|
|
Number
of
|
|
Price
per
|
Prices per
Share
|
|
|
|
|
Life
|
|
Common
|
|
Share
|
(CAD)
|
|
|
|
|
(Years)
|
|
Shares
|
|
(CAD)
|
|
|
|
|
|
|
|
|
|
|
Stock options
outstanding
|
|
|
|
|
|
|
|||
$ 0.25 to $
0.49
|
|
3.72
|
|
2,722,000
|
$
|
0.45
|
|||
$ 0.50 to $
0.74
|
|
|
|
|
2.28
|
|
3,503,395
|
|
0.64
|
$ 0.75 to $
0.99
|
|
|
|
|
0.69
|
|
2,383,600
|
|
0.85
|
$ 1.00 to $
1.39
|
|
|
|
|
4.69
|
|
3,508,000
|
|
1.26
|
$
1.40 to $ 1.99
|
|
|
|
|
4.86
|
|
303,000
|
|
1.43
|
Stock options
outstanding – June 30, 2021
|
|
|
3.03
|
|
12,419,995
|
$
|
0.83
|
|
|
|
|
Six Months
Ended
|
|
|
|
|
|
June 30,
2021
|
|
|
|
|
|
|
|
Risk-free
interest rate
|
|
|
|
0.70% -
0.76%
|
|
Expected stock
price volatility
|
|
|
|
66.11% -
68.86%
|
|
Expected
life
|
|
|
|
3.4
years
|
|
Expected dividend
yield
|
|
|
|
-
|
|
Fair value
per share under options granted
|
|
|
$0.59 -
$0.69
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
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, 2020
|
|
5,691,899
|
$
|
0.52
|
|
2,020,000
|
$
|
0.63
|
Grants
|
|
1,886,000
|
|
1.42
|
|
-
|
|
-
|
Exercises
(1)
|
|
(420,499)
|
|
0.54
|
|
(210,000)
|
|
0.66
|
Forfeitures
|
|
(767,228)
|
|
0.56
|
|
(180,000)
|
|
0.69
|
Units outstanding
– June 30, 2021
|
|
6,390,172
|
$
|
0.78
|
|
1,630,000
|
$
|
0.62
|
Units
vested – June 30, 2021
|
|
2,319,173
|
$
|
0.59
|
|
870,000
|
$
|
0.63
|
|
|
|
|
At June
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
Cumulative
foreign currency translation
|
|
|
$
|
418
|
$
|
413
|
Unamortized
experience gain-post employment liability
|
|
|
|
|
||
Gross
|
|
|
|
1,847
|
|
1,847
|
Tax
effect
|
|
|
|
(485)
|
|
(485)
|
|
|
|
$
|
1,780
|
$
|
1,775
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in thousands of
CAD dollars)
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Cost of goods and
services sold:
|
|
|
|
|
|
|
|
|
Cost of goods
sold – mineral concentrates
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
(526)
|
Operating
overheads:
|
|
|
|
|
|
|
|
|
Mining, other
development expense
|
|
(823)
|
|
(334)
|
|
(1,055)
|
|
(547)
|
Milling,
conversion expense
|
|
(471)
|
|
(6)
|
|
(475)
|
|
(746)
|
Less
absorption:
|
|
|
|
|
|
|
|
|
-Mineral
properties
|
|
11
|
|
13
|
|
22
|
|
25
|
Cost of
services
|
|
(2,338)
|
|
(1,659)
|
|
(3,931)
|
|
(3,374)
|
Cost of goods and
services sold
|
|
(3,621)
|
|
(1,986)
|
|
(5,439)
|
|
(5,168)
|
Reclamation asset
amortization
|
|
(70)
|
|
(62)
|
|
(140)
|
|
(122)
|
Selling
expenses
|
|
-
|
|
-
|
|
-
|
|
(14)
|
Sales royalties
and non-income taxes
|
|
-
|
|
-
|
|
-
|
|
(64)
|
Operating
expenses
|
$
|
(3,691)
|
$
|
(2,048)
|
$
|
(5,579)
|
$
|
(5,368)
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in thousands of
CAD dollars)
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Gains (losses)
on:
|
|
|
|
|
|
|
|
|
Foreign
exchange
|
$
|
(2,059)
|
$
|
(98)
|
$
|
(1,618)
|
$
|
(78)
|
Disposal of
property, plant and equipment
|
|
2
|
|
405
|
|
2
|
|
407
|
Fair value
changes:
|
|
|
|
|
|
|
|
|
Investments-equity
instruments (note 7)
|
|
5,233
|
|
1,989
|
|
5,142
|
|
(961)
|
Investments-uranium (note
7)
|
|
7,534
|
|
-
|
|
7,534
|
|
-
|
Warrant
liabilities (note 14)
|
|
(4,268)
|
|
-
|
|
(5,832)
|
|
-
|
Issue
costs-warrant liabilities (note 16)
|
|
(2)
|
|
-
|
|
(791)
|
|
-
|
Uranium
investment carrying charges
|
|
(54)
|
|
-
|
|
(54)
|
|
-
|
Other
|
|
(38)
|
|
(133)
|
|
(76)
|
|
(397)
|
Other
income (expense)
|
$
|
6,348
|
$
|
2,163
|
$
|
4,307
|
$
|
(1,029)
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in thousands of
CAD dollars)
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Interest
income
|
$
|
130
|
$
|
64
|
$
|
213
|
$
|
156
|
Interest
expense
|
|
(1)
|
|
(1)
|
|
(1)
|
|
(3)
|
Accretion
expense
|
|
|
|
|
|
|
|
|
Deferred
revenue (note 11)
|
|
(790)
|
|
(755)
|
|
(1,544)
|
|
(1,537)
|
Post-employment
benefits (note 12)
|
|
(6)
|
|
(17)
|
|
(12)
|
|
(34)
|
Reclamation
obligations (note 13)
|
|
(336)
|
|
(338)
|
|
(672)
|
|
(676)
|
Debt
obligations (note 14)
|
|
(12)
|
|
(14)
|
|
(24)
|
|
(30)
|
Finance
income (expense)
|
$
|
(1,015)
|
$
|
(1,061)
|
$
|
(2,040)
|
$
|
(2,124)
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in thousands of
CAD dollars)
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
Mining, other
development expense
|
$
|
-
|
$
|
(1)
|
$
|
(1)
|
$
|
(2)
|
Milling,
conversion expense
|
|
(429)
|
|
-
|
|
(429)
|
|
(736)
|
Cost of
services
|
|
(46)
|
|
(47)
|
|
(91)
|
|
(100)
|
Evaluation
|
|
(9)
|
|
(9)
|
|
(18)
|
|
(18)
|
Exploration
|
|
(50)
|
|
(37)
|
|
(80)
|
|
(78)
|
General and
administrative
|
|
(30)
|
|
(32)
|
|
(55)
|
|
(64)
|
Depreciation
expense-gross
|
$
|
(564)
|
$
|
(126)
|
$
|
(674)
|
$
|
(998)
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in thousands of
CAD dollars)
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Salaries and
short-term employee benefits
|
$
|
(2,104)
|
$
|
(1,545)
|
$
|
(5,138)
|
$
|
(3,703)
|
Share-based
compensation (note 17)
|
|
(920)
|
|
(421)
|
|
(1,295)
|
|
(904)
|
Termination
benefits
|
|
-
|
|
-
|
|
(29)
|
|
-
|
Employee
benefits expense
|
$
|
(3,024)
|
$
|
(1,966)
|
$
|
(6,462)
|
$
|
(4,607)
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
Six
Months Ended
June
30
|
||||
(in thousands of
CAD dollars)
|
|
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Change in
non-cash working capital items:
|
|
|
|
|
|
|
|
|
Trade and other
receivables
|
|
|
|
|
$
|
(1,265)
|
$
|
890
|
Inventories
|
|
|
|
|
|
(1)
|
|
433
|
Prepaid expenses
and other assets
|
|
|
|
|
|
262
|
|
401
|
Accounts payable
and accrued liabilities
|
|
|
|
|
|
1,622
|
|
(3,352)
|
Change
in non-cash working capital items
|
|
|
|
|
$
|
618
|
$
|
(1,628)
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
(in thousands of
CAD dollars)
|
|
|
Mining
|
Closed
Mine
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
|
719
|
4,310
|
2,093
|
7,122
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
|
(1,648)
|
(3,931)
|
-
|
(5,579)
|
Evaluation
|
|
|
(9,142)
|
-
|
-
|
(9,142)
|
Exploration
|
|
|
(1,876)
|
-
|
-
|
(1,876)
|
General and
administrative
|
|
|
(17)
|
-
|
(4,970)
|
(4,987)
|
|
|
|
(12,683)
|
(3,931)
|
(4,970)
|
(21,584)
|
Segment income
(loss)
|
|
|
(11,964)
|
379
|
(2,877)
|
(14,462)
|
|
|
|
|
|
|
|
Revenues – supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
|
-
|
4,310
|
-
|
4,310
|
Management
fees
|
|
|
-
|
-
|
2,093
|
2,093
|
Toll milling
services–deferred revenue (note 11)
|
|
719
|
-
|
-
|
719
|
|
|
|
|
719
|
4,310
|
2,093
|
7,122
|
|
|
|
|
|
|
|
Capital additions:
|
|
|
|
|
|
|
Property, plant
and equipment
|
|
|
310
|
36
|
83
|
429
|
|
|
|
|
|
|
|
Long-lived assets – as at June 30, 2021:
|
|
|
|
|
|
|
Plant and
equipment
|
|
|
|
|
|
|
Cost
|
|
|
101,829
|
4,465
|
974
|
107,268
|
Accumulated
depreciation
|
|
|
(26,910)
|
(3,167)
|
(471)
|
(30,548)
|
Mineral
properties
|
|
|
179,764
|
-
|
-
|
179,764
|
|
|
|
254,683
|
1,298
|
503
|
256,484
|
(in thousands of
CAD dollars)
|
|
|
Mining
|
Closed
Mine
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
|
582
|
2,566
|
1,478
|
4,626
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
|
(1,353)
|
(2,338)
|
-
|
(3,691)
|
Evaluation
|
|
|
(6,381)
|
-
|
-
|
(6,381)
|
Exploration
|
|
|
(528)
|
-
|
-
|
(528)
|
General and
administrative
|
|
|
-
|
-
|
(2,362)
|
(2,362)
|
|
|
|
(8,262)
|
(2,338)
|
(2,362)
|
(12,962)
|
Segment income
(loss)
|
|
|
(7,680)
|
228
|
(884)
|
(8,336)
|
|
|
|
|
|
|
|
Revenues – supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
|
-
|
2,566
|
-
|
2,566
|
Management
fees
|
|
|
-
|
-
|
1,478
|
1,478
|
Toll milling
services–deferred revenue (note 11)
|
|
582
|
-
|
-
|
582
|
|
|
|
|
582
|
2,566
|
1,478
|
4,626
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
(in thousands of
CAD dollars)
|
|
|
Mining
|
Closed
Mine
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
|
1,967
|
4,132
|
1,487
|
7,586
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
|
(1,994)
|
(3,374)
|
-
|
(5,368)
|
Evaluation
|
|
|
(1,855)
|
-
|
-
|
(1,855)
|
Exploration
|
|
|
(2,181)
|
-
|
-
|
(2,181)
|
General and
administrative
|
|
|
(19)
|
-
|
(3,590)
|
(3,609)
|
|
|
|
(6,049)
|
(3,374)
|
(3,590)
|
(13,013)
|
Segment income
(loss)
|
|
|
(4,082)
|
758
|
(2,103)
|
(5,427)
|
|
|
|
|
|
|
|
Revenues – supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
|
-
|
4,132
|
-
|
4,132
|
Management
fees
|
|
|
-
|
-
|
1,487
|
1,487
|
Uranium
concentrate sales
|
|
|
852
|
-
|
-
|
852
|
Toll milling
services–deferred revenue (note 11)
|
|
1,115
|
-
|
-
|
1,115
|
|
|
|
|
1,967
|
4,132
|
1,487
|
7,586
|
|
|
|
|
|
|
|
Capital additions:
|
|
|
|
|
|
|
Property, plant
and equipment
|
|
|
124
|
15
|
-
|
139
|
|
|
|
|
|
|
|
Long-lived assets – as at June 30, 2020:
|
|
|
|
|
|
|
Plant and
equipment
|
|
|
|
|
|
|
Cost
|
|
|
99,994
|
4,546
|
908
|
105,448
|
Accumulated
depreciation
|
|
|
(25,305)
|
(3,102)
|
(368)
|
(28,775)
|
Mineral
properties
|
|
|
179,605
|
-
|
-
|
179,605
|
|
|
|
254,294
|
1,444
|
540
|
256,278
|
(in thousands of
CAD dollars)
|
|
|
Mining
|
Closed
Mine
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
|
152
|
2,104
|
670
|
2,926
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
|
(389)
|
(1,659)
|
-
|
(2,048)
|
Evaluation
|
|
|
(364)
|
-
|
-
|
(364)
|
Exploration
|
|
|
(481)
|
-
|
-
|
(481)
|
General and
administrative
|
|
|
(5)
|
-
|
(1,416)
|
(1,421)
|
|
|
|
(1,239)
|
(1,659)
|
(1,416)
|
(4,314)
|
Segment income
(loss)
|
|
|
(1,087)
|
445
|
(746)
|
(1,388)
|
|
|
|
|
|
|
|
Revenues – supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
|
-
|
2,104
|
-
|
2,104
|
Management
fees
|
|
|
-
|
-
|
670
|
670
|
Toll milling
services–deferred revenue (note 11)
|
|
152
|
-
|
-
|
152
|
|
|
|
|
152
|
2,104
|
670
|
2,926
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in thousands of
CAD dollars)
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Management
fees:
|
|
|
|
|
|
|
|
|
Base and variable
fees
|
$
|
571
|
$
|
551
|
$
|
1,046
|
$
|
1,014
|
Commission
fees
|
|
697
|
|
119
|
|
697
|
|
173
|
Discretionary
fees
|
|
210
|
|
-
|
|
350
|
|
300
|
|
$
|
1,478
|
$
|
670
|
$
|
2,093
|
$
|
1,487
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
||||
(in thousands of
CAD dollars)
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
|
|
|
|
|
|
|
Salaries and
short-term employee benefits
|
$
|
(494)
|
$
|
(371)
|
$
|
(1,537)
|
$
|
(955)
|
Share-based
compensation
|
|
(737)
|
|
(320)
|
|
(1,057)
|
|
(750)
|
Key
management personnel compensation
|
$
|
(1,231)
|
$
|
(691)
|
$
|
(2,594)
|
$
|
(1,705)
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
|
|
June
30
|
|
December
31,
|
|
|
Financial
|
|
Fair
|
|
2021
|
|
2020
|
|
|
Instrument
|
|
Value
|
|
Fair
|
|
Fair
|
(in thousands of
CAD dollars)
|
|
Category(1)
|
|
Hierarchy
|
|
Value
|
|
Value
|
|
|
|
|
|
|
|
|
|
Financial
Assets:
|
|
|
|
|
|
|
|
|
Cash and
equivalents
|
|
Category
B
|
|
|
$
|
84,852
|
$
|
24,992
|
Trade and other
receivables
|
|
Category
B
|
|
|
|
4,639
|
|
3,374
|
Investments
|
|
|
|
|
|
|
|
|
Equity
instruments-shares
|
|
Category
A
|
|
Level
1
|
|
21,847
|
|
16,657
|
Equity
instruments-warrants
|
|
Category
A
|
|
Level
2
|
|
245
|
|
293
|
Restricted
cash and equivalents
|
|
|
|
|
|
|
|
|
Elliot Lake
reclamation trust fund
|
|
Category
B
|
|
|
|
3,201
|
|
2,883
|
Credit
facility pledged assets
|
|
Category
B
|
|
|
|
9,000
|
|
9,000
|
Reclamation
letter of credit collateral
|
|
Category
B
|
|
|
|
135
|
|
135
|
|
|
|
|
|
$
|
123,919
|
$
|
57,334
|
|
|
|
|
|
|
|
|
|
Financial
Liabilities:
|
|
|
|
|
|
|
|
|
Accounts
payable and accrued liabilities
|
|
Category
C
|
|
|
|
17,069
|
|
7,178
|
Share
purchase warrants liabilty
|
|
Category
A
|
|
Level
2
|
|
19,066
|
|
-
|
Debt
obligations
|
|
Category
C
|
|
|
|
621
|
|
615
|
|
|
|
|
|
$
|
36,756
|
$
|
7,793
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|