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 September
30
2020
|
|
At December
31
2019
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
|
Cash and cash
equivalents (note 4)
|
|
|
$
|
6,518
|
$
|
8,190
|
Trade and other
receivables (note 5)
|
|
|
|
3,010
|
|
4,023
|
Inventories (note
6)
|
|
|
|
3,078
|
|
3,352
|
Investments (note
7)
|
|
|
|
9,717
|
|
-
|
Prepaid expenses
and other
|
|
|
|
807
|
|
978
|
|
|
|
|
23,130
|
|
16,543
|
Non-Current
|
|
|
|
|
|
|
Inventories-ore
in stockpiles (note 6)
|
|
|
|
2,098
|
|
2,098
|
Investments (note
7)
|
|
|
|
93
|
|
12,104
|
Restricted cash
and investments (note 8)
|
|
|
|
12,190
|
|
11,994
|
Property, plant
and equipment (note 9)
|
|
|
|
256,046
|
|
257,259
|
Total
assets
|
|
|
$
|
293,557
|
$
|
299,998
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
|
Accounts payable
and accrued liabilities
|
|
|
$
|
6,480
|
$
|
7,930
|
Current portion
of long-term liabilities:
|
|
|
|
|
|
|
Deferred revenue
(note 10)
|
|
|
|
4,597
|
|
4,580
|
Post-employment
benefits (note 11)
|
|
|
|
150
|
|
150
|
Reclamation
obligations (note 12)
|
|
|
|
900
|
|
914
|
Other liabilities
(note 13)
|
|
|
|
230
|
|
1,372
|
|
|
|
|
12,357
|
|
14,946
|
Non-Current
|
|
|
|
|
|
|
Deferred revenue
(note 10)
|
|
|
|
32,823
|
|
31,741
|
Post-employment
benefits (note 11)
|
|
|
|
2,096
|
|
2,108
|
Reclamation
obligations (note 12)
|
|
|
|
32,020
|
|
31,598
|
Other liabilities
(note 13)
|
|
|
|
410
|
|
532
|
Deferred income
tax liability
|
|
|
|
8,566
|
|
8,924
|
Total
liabilities
|
|
|
|
88,272
|
|
89,849
|
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
|
Share capital
(note 14)
|
|
|
|
1,342,611
|
|
1,335,467
|
Share purchase
warrants (note 15)
|
|
|
|
-
|
|
435
|
Contributed
surplus
|
|
|
|
67,036
|
|
65,417
|
Deficit
|
|
|
|
(1,205,492)
|
|
(1,192,304)
|
Accumulated other
comprehensive income (note 17)
|
|
|
|
1,130
|
|
1,134
|
Total
equity
|
|
|
|
205,285
|
|
210,149
|
Total
liabilities and equity
|
|
|
$
|
293,557
|
$
|
299,998
|
|
|
|
|
|
|
|
Issued and
outstanding common shares (note 14)
|
|
|
626,321,102
|
|
597,192,153
|
|
Contingencies
(note 23)
Subsequent
events (note 24)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
Months Ended
September
30
|
|
Nine
Months Ended
September
30
|
||||
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REVENUES (note 19)
|
$
|
2,743
|
$
|
3,478
|
$
|
10,329
|
$
|
11,593
|
|
|
|
|
|
|
|
|
|
EXPENSES
|
|
|
|
|
|
|
|
|
Operating
expenses (note 18, 19)
|
|
(2,358)
|
|
(2,877)
|
|
(7,726)
|
|
(9,738)
|
Exploration and
evaluation (note 19)
|
|
(1,744)
|
|
(4,591)
|
|
(5,780)
|
|
(11,846)
|
General and
administrative (note 19)
|
|
(2,110)
|
|
(1,657)
|
|
(5,719)
|
|
(5,688)
|
Other income
(expense) (note 18)
|
|
(1,318)
|
|
(928)
|
|
(2,347)
|
|
(1,456)
|
|
|
(7,530)
|
|
(10,053)
|
|
(21,572)
|
|
(28,728)
|
Loss
before finance expense and
equity
accounting
|
|
(4,787)
|
|
(6,575)
|
|
(11,243)
|
|
(17,135)
|
Finance expense
(note 18)
|
|
(1,081)
|
|
(1,037)
|
|
(3,205)
|
|
(3,058)
|
Equity share of
loss of associate
|
|
-
|
|
(220)
|
|
-
|
|
(426)
|
Loss before
taxes
|
|
(5,868)
|
|
(7,832)
|
|
(14,448)
|
|
(20,619)
|
Income tax
recovery (note 21)
|
|
|
|
|
|
|
|
|
Deferred
|
|
386
|
|
1,408
|
|
1,260
|
|
3,976
|
Net loss for the
period
|
$
|
(5,482)
|
$
|
(6,424)
|
$
|
(13,188)
|
$
|
(16,643)
|
|
|
|
|
|
|
|
|
|
Other
comprehensive income (loss) (note 17):
|
|
|
|
|
|
|
|
|
Items that may be
reclassified to income (loss):
|
|
|
|
|
|
|
|
|
Foreign currency
translation change
|
|
3
|
|
(2)
|
|
(4)
|
|
4
|
Comprehensive
loss for the period
|
$
|
(5,479)
|
$
|
(6,426)
|
$
|
(13,192)
|
$
|
(16,639)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted
net loss per share:
|
|
|
|
|
|
|
|
|
All
operations
|
$
|
(0.01)
|
$
|
(0.01)
|
$
|
(0.02)
|
$
|
(0.03)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average
number of shares outstanding (in thousands):
|
|
|
|
|
||||
Basic and
diluted
|
|
626,182
|
|
590,221
|
|
614,871
|
|
589,608
|
|
|
|
|
|
|
|
|
|
The accompanying
notes are integral to the condensed interim consolidated financial
statements
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN
EQUITY
|
||||||||
(Unaudited -
Expressed in thousands of CAD dollars)
|
||||||||
|
|
|
|
Nine
Months Ended
September
30
|
||||
|
|
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share capital (note 14)
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
$
|
1,335,467
|
$
|
1,331,214
|
Shares issued for
cash, net of issue costs
|
|
|
|
|
|
6,878
|
|
-
|
Share options
exercised-cash
|
|
|
|
|
|
77
|
|
405
|
Share options
exercised-fair value adjustment
|
|
|
|
|
|
25
|
|
140
|
Share units
exercised-fair value adjustment
|
|
|
|
|
|
164
|
|
299
|
Balance-end of
period
|
|
|
|
|
|
1,342,611
|
|
1,332,058
|
|
|
|
|
|
|
|
|
|
Share purchase warrants (note 15)
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
435
|
|
435
|
Warrants
expired
|
|
|
|
|
|
(435)
|
|
-
|
Balance-end of
period
|
|
|
|
|
|
-
|
|
435
|
|
|
|
|
|
|
|
|
|
Contributed surplus
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
65,417
|
|
63,634
|
Share-based
compensation expense (note 16)
|
|
|
|
|
|
1,373
|
|
1,772
|
Share options
exercised-fair value adjustment
|
|
|
|
|
|
(25)
|
|
(140)
|
Share units
exercised-fair value adjustment
|
|
|
|
|
|
(164)
|
|
(299)
|
Warrants
expired
|
|
|
|
|
|
435
|
|
-
|
Balance-end of
period
|
|
|
|
|
|
67,036
|
|
64,967
|
|
|
|
|
|
|
|
|
|
Deficit
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
(1,192,304)
|
|
(1,174,163)
|
Net
loss
|
|
|
|
|
|
(13,188)
|
|
(16,643)
|
Balance-end of
period
|
|
|
|
|
|
(1,205,492)
|
|
(1,190,806)
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive income (note 17)
|
|
|
|
|
|
|
||
Balance-beginning
of period
|
|
|
|
|
|
1,134
|
|
1,127
|
Foreign currency
translation
|
|
|
|
|
|
(4)
|
|
4
|
Balance-end of
period
|
|
|
|
|
|
1,130
|
|
1,131
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Equity
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
210,149
|
|
222,247
|
Balance-end of
period
|
|
|
|
|
$
|
205,285
|
$
|
207,785
|
|
|
|
|
|
|
|
|
|
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)
|
||||||||
|
|
|
|
Nine
Months Ended
September
30
|
||||
CASH PROVIDED BY (USED IN):
|
|
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
OPERATING ACTIVITIES
|
|
|
|
|
|
|
|
|
Net loss for the
period
|
|
|
|
|
$
|
(13,188)
|
$
|
(16,643)
|
Items not
affecting cash and cash equivalents:
|
|
|
|
|
|
|
|
|
Depletion,
depreciation, amortization and accretion
|
|
|
|
|
|
4,920
|
|
6,400
|
Share-based
compensation (note 16)
|
|
|
|
|
|
1,373
|
|
1,772
|
Recognition
of deferred revenue (note 10)
|
|
|
|
|
|
(1,210)
|
|
(3,243)
|
Gains on
property, plant and equipment disposals (note 18)
|
|
|
|
(407)
|
|
(5)
|
||
Losses on
fair value remeasurement of investments (note 18)
|
|
|
|
2,094
|
|
1,172
|
||
Equity loss
of associate
|
|
|
|
-
|
|
678
|
||
Dilution gain
of associate
|
|
|
|
-
|
|
(252)
|
||
Deferred income
tax recovery
|
|
|
|
|
|
(1,260)
|
|
(3,976)
|
Other
|
|
|
|
|
|
-
|
|
(1)
|
Post-employment
benefits (note 11)
|
|
|
|
|
|
(63)
|
|
(93)
|
Reclamation
obligations (note 12)
|
|
|
|
|
|
(606)
|
|
(630)
|
Change in
non-cash working capital items (note 18)
|
|
|
|
|
|
(133)
|
|
2,666
|
Net
cash used in operating activities
|
|
|
|
|
|
(8,480)
|
|
(12,155)
|
|
|
|
|
|
|
|
|
|
INVESTING ACTIVITIES
|
|
|
|
|
|
|
|
|
Decrease in loans
receivable
|
|
|
|
|
|
-
|
|
250
|
Sale of
investments (note 7)
|
|
|
|
|
|
477
|
|
-
|
Purchase of
investments (note 7)
|
|
|
|
|
|
(7)
|
|
(371)
|
Expenditures on
property, plant and equipment (note 9)
|
|
|
|
(153)
|
|
(821)
|
||
Proceeds
on sale of property, plant and equipment
|
|
|
|
|
|
137
|
|
5
|
Decrease
(increase) in restricted cash and investments
|
|
|
|
(196)
|
|
78
|
||
Net
cash provided by (used in) investing activities
|
|
|
|
|
|
258
|
|
(859)
|
|
|
|
|
|
|
|
|
|
FINANCING ACTIVITIES
|
|
|
|
|
|
|
|
|
Issuance of debt
obligations (note 13)
|
|
|
|
|
|
-
|
|
43
|
Repayment
of debt obligations (note 13)
|
|
|
|
|
|
(405)
|
|
(209)
|
Share
issues for cash, net of issue costs (note 14)
|
|
|
|
|
|
6,878
|
|
-
|
Share
option exercise proceeds (note 14)
|
|
|
|
|
|
77
|
|
405
|
Net
cash provided by financing activities
|
|
|
|
|
|
6,550
|
|
239
|
|
|
|
|
|
|
|
|
|
Decrease
in cash and cash equivalents
|
|
|
|
|
|
(1,672)
|
|
(12,775)
|
Cash
and cash equivalents, beginning of period
|
|
|
|
|
|
8,190
|
|
23,207
|
Cash
and cash equivalents, end of period
|
|
|
|
|
$
|
6,518
|
$
|
10,432
|
|
||||||||
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 NINE MONTHS ENDED SEPTEMBER 30, 2020
|
|
(Unaudited -
Expressed in CAD dollars unless otherwise noted)
|
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At September
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
Cash
|
|
|
$
|
5,337
|
$
|
1,583
|
Cash in MLJV and
MWJV
|
|
|
|
471
|
|
1,397
|
Cash
equivalents
|
|
|
|
710
|
|
5,210
|
|
|
|
$
|
6,518
|
$
|
8,190
|
|
|
|
|
At September
30
|
|
At December
31
|
|
(in thousands of
CAD dollars)
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
Trade
receivables
|
|
|
$
|
2,701
|
$
|
2,608
|
|
Receivables in
MLJV and MWJV
|
|
|
|
197
|
|
1,125
|
|
Sales tax, other
receivables
|
|
|
|
112
|
|
290
|
|
|
|
|
$
|
3,010
|
$
|
4,023
|
|
|
|
|
At September
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
Uranium
concentrates
|
|
|
$
|
-
|
$
|
526
|
Inventory of ore
in stockpiles
|
|
|
|
2,098
|
|
2,098
|
Mine and mill
supplies in MLJV
|
|
|
|
3,078
|
|
2,826
|
|
|
|
$
|
5,176
|
$
|
5,450
|
|
|
|
|
|
|
|
Inventories-by
balance sheet presentation:
|
|
|
|
|
|
|
Current
|
|
|
$
|
3,078
|
$
|
3,352
|
Long-term-ore in
stockpiles
|
|
|
|
2,098
|
|
2,098
|
|
|
|
$
|
5,176
|
$
|
5,450
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At September
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
Investments:
|
|
|
|
|
|
|
Equity
instruments
|
|
|
$
|
9,810
|
$
|
12,104
|
|
|
|
$
|
9,810
|
$
|
12,104
|
|
|
|
|
|
|
|
Investments-by
balance sheet presentation:
|
|
|
|
|
|
|
Current
|
|
|
$
|
9,717
|
$
|
-
|
Long-term
|
|
|
|
93
|
|
12,104
|
|
|
|
$
|
9,810
|
$
|
12,104
|
(in thousands of
CAD dollars)
|
|
|
|
|
|
Investments
|
|
|
|
|
|
|
|
Balance -
December 31, 2019
|
|
|
|
|
$
|
12,104
|
Additions from
property disposals (note 9)
|
|
|
|
|
|
270
|
Sale of
investments
|
|
|
|
|
|
(477)
|
Purchase of
investments
|
|
|
|
|
|
7
|
Fair value loss
to profit and loss
|
|
|
|
|
|
(2,094)
|
Balance –
September 30, 2020
|
|
|
|
|
$
|
9,810
|
|
|
|
|
At September
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
$
|
3,055
|
$
|
2,859
|
Investments
|
|
|
|
9,135
|
|
9,135
|
|
|
|
$
|
12,190
|
$
|
11,994
|
Restricted cash
and investments-by item:
|
|
|
|
|
|
|
Elliot Lake
reclamation trust fund
|
|
|
$
|
3,055
|
$
|
2,859
|
Letters of credit
facility pledged assets
|
|
|
|
9,000
|
|
9,000
|
Letters of credit
additional collateral
|
|
|
|
135
|
|
135
|
|
|
|
$
|
12,190
|
$
|
11,994
|
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, 2019
|
$
|
104,587
|
$
|
906
|
$
|
179,481
|
$
|
284,974
|
Additions
|
|
15
|
|
-
|
|
138
|
|
153
|
Disposals
|
|
(60)
|
|
-
|
|
-
|
|
(60)
|
Balance
– September 30, 2020
|
$
|
104,542
|
$
|
906
|
$
|
179,619
|
$
|
285,067
|
|
|
|
|
|
|
|
|
|
Accumulated
amortization, depreciation:
|
|
|
|
|
|
|
|
|
Balance –
December 31, 2019
|
$
|
(27,518)
|
$
|
(197)
|
$
|
-
|
$
|
(27,715)
|
Amortization
|
|
(182)
|
|
-
|
|
-
|
|
(182)
|
Depreciation
|
|
(1,036)
|
|
(148)
|
|
-
|
|
(1,184)
|
Disposals
|
|
60
|
|
-
|
|
-
|
|
60
|
Balance
– September 30, 2020
|
$
|
(28,676)
|
$
|
(345)
|
$
|
-
|
$
|
(29,021)
|
|
|
|
|
|
|
|
|
|
Carrying
value:
|
|
|
|
|
|
|
|
|
Balance –
December 31, 2019
|
$
|
77,069
|
$
|
709
|
$
|
179,481
|
$
|
257,259
|
Balance –
September 30, 2020
|
$
|
75,866
|
$
|
561
|
$
|
179,619
|
$
|
256,046
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At September
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
Deferred revenue
– pre-sold toll milling:
|
|
|
|
|
|
|
CLJV toll milling
– APG
|
|
|
$
|
37,420
|
$
|
36,321
|
|
|
|
$
|
37,420
|
$
|
36,321
|
|
|
|
|
|
|
|
Deferred
revenue-by balance sheet presentation:
|
|
|
|
|
|
|
Current
|
|
|
$
|
4,597
|
$
|
4,580
|
Non-current
|
|
|
|
32,823
|
|
31,741
|
|
|
|
$
|
37,420
|
$
|
36,321
|
(in thousands of
CAD dollars)
|
|
|
|
|
|
Deferred
Revenue
|
|
|
|
|
|
|
|
Balance -
December 31, 2019
|
|
|
|
|
$
|
36,321
|
Accretion
|
|
|
|
|
|
2,309
|
Revenue
recognized during the period (note 19)
|
|
|
|
|
|
(1,210)
|
Balance –
September 30, 2020
|
|
|
|
|
$
|
37,420
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At September
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
Accrued benefit
obligation
|
|
|
$
|
2,246
|
$
|
2,258
|
|
|
|
$
|
2,246
|
$
|
2,258
|
|
|
|
|
|
|
|
Post-employment
benefits-by balance sheet presentation:
|
|
|
|
|
||
Current
|
|
|
$
|
150
|
$
|
150
|
Non-current
|
|
|
|
2,096
|
|
2,108
|
|
|
|
$
|
2,246
|
$
|
2,258
|
(in thousands of
CAD dollars)
|
|
|
|
|
|
Post-Employment
Benefits
|
|
|
|
|
|
|
|
Balance -
December 31, 2019
|
|
|
|
|
$
|
2,258
|
Accretion
|
|
|
|
|
|
51
|
Benefits
paid
|
|
|
|
|
|
(63)
|
Balance –
September 30, 2020
|
|
|
|
|
$
|
2,246
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At September
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
Reclamation
obligations-by location:
|
|
|
|
|
|
|
Elliot
Lake
|
|
|
$
|
17,957
|
$
|
17,987
|
McClean and
Midwest Joint Ventures
|
|
|
|
14,941
|
|
14,503
|
Other
|
|
|
|
22
|
|
22
|
|
|
|
$
|
32,920
|
$
|
32,512
|
|
|
|
|
|
|
|
Reclamation
obligations-by balance sheet presentation:
|
|
|
|
|
||
Current
|
|
|
$
|
900
|
$
|
914
|
Non-current
|
|
|
|
32,020
|
|
31,598
|
|
|
|
$
|
32,920
|
$
|
32,512
|
(in thousands of
CAD dollars)
|
|
|
|
|
|
Reclamation
Obligations
|
|
|
|
|
|
|
|
Balance -
December 31, 2019
|
|
|
|
|
$
|
32,512
|
Accretion
|
|
|
|
|
|
1,014
|
Expenditures
incurred
|
|
|
|
|
|
(606)
|
Balance –
September 30, 2020
|
|
|
|
|
$
|
32,920
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At September
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
Debt
obligations:
|
|
|
|
|
|
|
Lease
liabilities
|
|
|
$
|
605
|
$
|
739
|
Loan
liabilities
|
|
|
|
35
|
|
263
|
Flow-through
share premium obligation (note 14)
|
|
|
|
-
|
|
902
|
|
|
|
$
|
640
|
$
|
1,904
|
|
|
|
|
|
|
|
Other
liabilities-by balance sheet presentation:
|
|
|
|
|
||
Current
|
|
|
$
|
230
|
$
|
1,372
|
Non-current
|
|
|
|
410
|
|
532
|
|
|
|
$
|
640
|
$
|
1,904
|
|
|
|
Lease
|
|
Loan
|
|
Total
Debt
|
||
(in thousands of
CAD dollars)
|
|
|
|
Liabilities
|
|
Liabilities
|
|
Obligations
|
|
|
|
|
|
|
|
|
|
|
|
Balance –
December 31, 2019
|
|
|
$
|
739
|
$
|
263
|
$
|
1,002
|
|
Accretion
|
|
|
|
43
|
|
-
|
|
43
|
|
Repayments
|
|
|
|
(177)
|
|
(228)
|
|
(405)
|
|
Balance
– September 30, 2020
|
|
|
$
|
605
|
$
|
35
|
$
|
640
|
|
|
|
Lease
|
|
Loan
|
|
Total
Debt
|
||
(in thousands of
CAD dollars)
|
|
|
|
Liabilities
|
|
Liabilities
|
|
Obligations
|
|
|
|
|
|
|
|
|
|
|
|
Maturity analysis
– contractual undiscounted cash flows:
|
|
|
|
|
|
|
|||
Next 12
months
|
|
|
$
|
221
|
$
|
9
|
$
|
230
|
|
One to five
years
|
|
|
|
483
|
|
28
|
|
511
|
|
More than five
years
|
|
|
|
17
|
|
-
|
|
17
|
|
Total obligation
– September 30, 2020 – undiscounted
|
|
721
|
|
37
|
|
758
|
|||
Present value
discount adjustment
|
|
|
|
(116)
|
|
(2)
|
|
(118)
|
|
Total obligation
– September 30, 2020 – discounted
|
$
|
605
|
$
|
35
|
$
|
640
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
Number
of
|
|
|
|
Common
|
|
Share
|
(in thousands of
CAD dollars except share amounts)
|
Shares
|
|
Capital
|
|
|
|
|
Balance -
December 31, 2019
|
597,192,153
|
$
|
1,335,467
|
|
|
|
|
Issued for
cash:
|
|
|
|
Share issue
proceeds
|
28,750,000
|
|
8,041
|
Share issue
costs
|
-
|
|
(1,163)
|
Share option
exercises
|
140,000
|
|
77
|
Share options
exercised – fair value adjustment
|
-
|
|
25
|
Share units
exercised – fair value adjustment
|
238,949
|
|
164
|
|
29,128,949
|
|
7,144
|
Balance –
September 30, 2020
|
626,321,102
|
$
|
1,342,611
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
|
|
Average
|
|
Number
of
|
|
Warrants
|
|
|
|
|
Exercise
|
|
Common
|
|
Fair
|
|
|
|
|
Price
Per
|
|
Shares
|
|
Value
|
(in
thousands of CAD dollars except share amounts)
|
|
Share
(CAD)
|
|
Issuable
|
|
Amount
|
||
|
|
|
|
|
|
|
|
|
Balance
- December 31, 2019
|
$
|
1.27
|
|
1,673,077
|
$
|
435
|
||
Expiries
|
|
1.27
|
|
(1,673,077)
|
|
(435)
|
||
Balance
– September 30, 2020
|
$
|
-
|
|
-
|
$
|
-
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
Three
Months Ended
September
30
|
|
Nine
Months Ended
September
30
|
||||
(in thousands of
CAD dollars)
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
Share based
compensation expense for:
|
|
|
|
|
|
|
|
|
Stock
options
|
$
|
(138)
|
$
|
(151)
|
$
|
(434)
|
$
|
(640)
|
RSUs
|
|
(273)
|
|
(224)
|
|
(760)
|
|
(819)
|
PSUs
|
|
(58)
|
|
(90)
|
|
(179)
|
|
(313)
|
Share
based compensation expense
|
$
|
(469)
|
$
|
(465)
|
$
|
(1,373)
|
$
|
(1,772)
|
|
|
|
|
|
|
|
|
|
Weighted-
|
|
|
|
|
|
|
|
|
|
Average
|
|
|
|
|
|
|
|
|
|
Exercise
|
|
|
|
|
|
|
|
Number
of
|
|
Price
per
|
|
|
|
|
|
|
|
Common
|
|
Share
|
|
|
|
|
|
|
|
Shares
|
|
(CAD)
|
|
|
|
|
|
|
|
|
|
|
Stock options
outstanding – December 31, 2019
|
|
|
|
13,827,243
|
$
|
0.75
|
|||
Grants
|
|
|
|
|
|
|
3,569,000
|
|
0.46
|
Exercises
(1)
|
|
|
|
|
|
|
(140,000)
|
|
0.55
|
Expiries
|
|
|
|
|
|
|
(1,104,000)
|
|
1.09
|
Forfeitures
|
|
|
|
|
|
|
(562,500)
|
|
0.69
|
Stock options
outstanding – September 30, 2020
|
|
|
|
15,589,743
|
$
|
0.67
|
|||
Stock options
exercisable – September 30, 2020
|
|
|
|
10,681,243
|
$
|
0.73
|
|
|
|
|
|
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
|
|
4.44
|
|
3,465,000
|
$
|
0.46
|
|||
$ 0.50 to $
0.74
|
|
|
|
|
2.39
|
|
6,973,143
|
|
0.64
|
$ 0.75 to $
0.99
|
|
|
|
|
1.44
|
|
5,151,600
|
|
0.85
|
Stock options
outstanding – September 30, 2020
|
|
2.53
|
|
15,589,743
|
$
|
0.67
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
Nine Months
Ended
|
|
|
|
|
|
September 30,
2020
|
|
|
|
|
|
|
|
Risk-free
interest rate
|
|
|
|
0.27% -
0.67%
|
|
Expected stock
price volatility
|
|
|
|
44.16% -
52.81%
|
|
Expected
life
|
|
|
|
3.4
years
|
|
Expected dividend
yield
|
|
|
|
-
|
|
Fair value
per share under options granted
|
|
|
CAD$0.15
– CAD$0.25
|
|
|
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, 2019
|
|
2,754,099
|
$
|
0.70
|
|
2,140,000
|
$
|
0.65
|
Grants
|
|
3,304,750
|
|
0.39
|
|
180,000
|
|
0.38
|
Exercises
|
|
(238,950)
|
|
0.69
|
|
-
|
|
-
|
Forfeitures
|
|
(169,000)
|
|
0.59
|
|
(180,000)
|
|
0.65
|
Units outstanding
– September 30, 2020
|
|
5,650,899
|
$
|
0.52
|
|
2,140,000
|
$
|
0.63
|
Units
vested – September 30, 2020
|
|
970,670
|
$
|
0.69
|
|
820,000
|
$
|
0.65
|
|
|
|
|
At September
30
|
|
At December
31
|
(in thousands of
CAD dollars)
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
Cumulative
foreign currency translation
|
|
|
$
|
406
|
$
|
410
|
Unamortized
experience gain-post employment liability
|
|
|
|
|
||
Gross
|
|
|
|
983
|
|
983
|
Tax
effect
|
|
|
|
(259)
|
|
(259)
|
|
|
|
$
|
1,130
|
$
|
1,134
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
Three
Months Ended
September
30
|
|
Nine
Months Ended
September
30
|
||||
(in thousands of
CAD dollars)
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
Cost of goods and
services sold:
|
|
|
|
|
|
|
|
|
Cost of goods
sold – mineral concentrates
|
$
|
-
|
$
|
-
|
$
|
(526)
|
$
|
-
|
Operating
overheads:
|
|
|
|
|
|
|
|
|
Mining, other
development expense
|
|
(454)
|
|
(294)
|
|
(1,001)
|
|
(1,012)
|
Milling,
conversion expense
|
|
(84)
|
|
(485)
|
|
(830)
|
|
(2,241)
|
Less
absorption:
|
|
|
|
|
|
|
|
|
-Mineral
properties
|
|
13
|
|
14
|
|
38
|
|
36
|
Cost of
services
|
|
(1,773)
|
|
(2,059)
|
|
(5,147)
|
|
(6,362)
|
Cost of goods and
services sold
|
|
(2,298)
|
|
(2,824)
|
|
(7,466)
|
|
(9,579)
|
Reclamation asset
amortization
|
|
(60)
|
|
(53)
|
|
(182)
|
|
(159)
|
Selling
expenses
|
|
-
|
|
-
|
|
(14)
|
|
-
|
Sales royalties
and non-income taxes
|
|
-
|
|
-
|
|
(64)
|
|
-
|
Operating
expenses
|
$
|
(2,358)
|
$
|
(2,877)
|
$
|
(7,726)
|
$
|
(9,738)
|
|
|
Three
Months Ended
September
30
|
|
Nine
Months Ended
September
30
|
||||
(in thousands of
CAD dollars)
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
Gains (losses)
on:
|
|
|
|
|
|
|
|
|
Foreign
exchange
|
$
|
(81)
|
$
|
-
|
$
|
(159)
|
$
|
1
|
Disposal of
property, plant and equipment
(note
9)
|
|
-
|
|
5
|
|
407
|
|
5
|
Investment fair
value through profit (loss)
(note
7)
|
|
(1,133)
|
|
(825)
|
|
(2,094)
|
|
(1,172)
|
Other
|
|
(104)
|
|
(108)
|
|
(501)
|
|
(290)
|
Other
income (expense)
|
$
|
(1,318)
|
$
|
(928)
|
$
|
(2,347)
|
$
|
(1,456)
|
|
|
Three
Months Ended
September
30
|
|
Nine
Months Ended
September
30
|
||||
(in thousands of
CAD dollars)
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
Interest
income
|
$
|
60
|
$
|
141
|
$
|
216
|
$
|
479
|
Interest
expense
|
|
(1)
|
|
(1)
|
|
(4)
|
|
(4)
|
Accretion
expense
|
|
|
|
|
|
|
|
|
Deferred
revenue (note 10)
|
|
(772)
|
|
(801)
|
|
(2,309)
|
|
(2,402)
|
Post-employment
benefits (note 11)
|
|
(17)
|
|
(18)
|
|
(51)
|
|
(53)
|
Reclamation
obligations (note 12)
|
|
(338)
|
|
(340)
|
|
(1,014)
|
|
(1,020)
|
Debt
obligations (note 13)
|
|
(13)
|
|
(18)
|
|
(43)
|
|
(58)
|
Finance
income (expense)
|
$
|
(1,081)
|
$
|
(1,037)
|
$
|
(3,205)
|
$
|
(3,058)
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
Three
Months Ended
September
30
|
|
Nine
Months Ended
September
30
|
||||
(in thousands of
CAD dollars)
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
Mining, other
development expense
|
$
|
-
|
$
|
-
|
$
|
(2)
|
$
|
(2)
|
Milling,
conversion expense
|
|
(62)
|
|
(482)
|
|
(798)
|
|
(2,223)
|
Cost of
services
|
|
(47)
|
|
(72)
|
|
(147)
|
|
(206)
|
Exploration and
evaluation
|
|
(45)
|
|
(57)
|
|
(141)
|
|
(163)
|
General and
administrative
|
|
(32)
|
|
(32)
|
|
(96)
|
|
(95)
|
Depreciation
expense-gross
|
$
|
(186)
|
$
|
(643)
|
$
|
(1,184)
|
$
|
(2,689)
|
|
|
Three
Months Ended
September
30
|
|
Nine
Months Ended
September
30
|
||||
(in thousands of
CAD dollars)
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
Salaries and
short-term employee benefits
|
$
|
(1,831)
|
$
|
(1,981)
|
$
|
(5,534)
|
$
|
(6,521)
|
Share-based
compensation (note 16)
|
|
(469)
|
|
(465)
|
|
(1,373)
|
|
(1,772)
|
Termination
benefits
|
|
-
|
|
(29)
|
|
-
|
|
(512)
|
Employee
benefits expense
|
$
|
(2,300)
|
$
|
(2,475)
|
$
|
(6,907)
|
$
|
(8,805)
|
|
|
|
|
Nine
Months Ended
September
30
|
||||
(in thousands of
CAD dollars)
|
|
|
|
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
Change in
non-cash working capital items:
|
|
|
|
|
|
|
|
|
Trade and other
receivables
|
|
|
|
|
$
|
1,013
|
$
|
97
|
Inventories
|
|
|
|
|
|
157
|
|
(36)
|
Prepaid expenses
and other assets
|
|
|
|
|
|
151
|
|
257
|
Accounts payable
and accrued liabilities
|
|
|
|
|
|
(1,454)
|
|
2,348
|
Change
in non-cash working capital items
|
|
|
|
|
$
|
(133)
|
$
|
2,666
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
(in thousands of
CAD dollars)
|
|
|
Mining
|
Closed
Mine
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
|
2,062
|
6,197
|
2,070
|
10,329
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
|
(2,579)
|
(5,144)
|
(3)
|
(7,726)
|
Exploration and
evaluation
|
|
|
(5,780)
|
-
|
-
|
(5,780)
|
General and
administrative
|
|
|
(19)
|
-
|
(5,700)
|
(5,719)
|
|
|
|
(8,378)
|
(5,144)
|
(5,703)
|
(19,225)
|
Segment income
(loss)
|
|
|
(6,316)
|
1,053
|
(3,633)
|
(8,896)
|
|
|
|
|
|
|
|
Revenues – supplemental:
|
|
|
|
|
|
|
Uranium
concentrate sales
|
|
|
852
|
-
|
-
|
852
|
Environmental
services
|
|
|
-
|
6,197
|
-
|
6,197
|
Management fees
(note 20)
|
|
|
-
|
-
|
2,070
|
2,070
|
Toll milling
services–deferred revenue (note 10)
|
|
1,210
|
-
|
-
|
1,210
|
|
|
|
|
2,062
|
6,197
|
2,070
|
10,329
|
|
|
|
|
|
|
|
Capital additions:
|
|
|
|
|
|
|
Property, plant
and equipment
|
|
|
138
|
15
|
-
|
153
|
|
|
|
|
|
|
|
Long-lived assets:
|
|
|
|
|
|
|
Plant and
equipment
|
|
|
|
|
|
|
Cost
|
|
|
99,994
|
4,546
|
908
|
105,448
|
Accumulated
depreciation
|
|
|
(25,473)
|
(3,148)
|
(400)
|
(29,021)
|
Mineral
properties
|
|
|
179,619
|
-
|
-
|
179,619
|
|
|
|
254,140
|
1,398
|
508
|
256,046
|
(in thousands of
CAD dollars)
|
|
|
Mining
|
Closed
Mine
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
|
95
|
2,065
|
583
|
2,743
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
|
(585)
|
(1,770)
|
(3)
|
(2,358)
|
Exploration and
evaluation
|
|
|
(1,744)
|
-
|
-
|
(1,744)
|
General and
administrative
|
|
|
-
|
-
|
(2,110)
|
(2,110)
|
|
|
|
(2,329)
|
(1,770)
|
(2,113)
|
(6,212)
|
Segment income
(loss)
|
|
|
(2,234)
|
295
|
(1,530)
|
(3,469)
|
|
|
|
|
|
|
|
Revenues – supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
|
-
|
2,065
|
-
|
2,065
|
Management fees
(note 20)
|
|
|
-
|
-
|
583
|
583
|
Toll milling
services–deferred revenue (note 10)
|
|
95
|
-
|
-
|
95
|
|
|
|
|
95
|
2,065
|
583
|
2,743
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
(in thousands of
CAD dollars)
|
|
|
Mining
|
Closed
Mines
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
|
3,243
|
6,866
|
1,484
|
11,593
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
|
(3,376)
|
(6,362)
|
-
|
(9,738)
|
Exploration and
evaluation
|
|
|
(11,846)
|
-
|
-
|
(11,846)
|
General and
administrative
|
|
|
(17)
|
-
|
(5,671)
|
(5,688)
|
|
|
|
(15,239)
|
(6,362)
|
(5,671)
|
(27,272)
|
Segment income
(loss)
|
|
|
(11,996)
|
504
|
(4,187)
|
(15,679)
|
|
|
|
|
|
|
|
Revenues – supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
|
-
|
6,866
|
-
|
6,866
|
Management fees
(note 20)
|
|
|
-
|
-
|
1,484
|
1,484
|
Toll milling
services–deferred revenue (note 10)
|
|
3,243
|
-
|
-
|
3,243
|
|
|
|
|
3,243
|
6,866
|
1,484
|
11,593
|
|
|
|
|
|
|
|
Capital additions:
|
|
|
|
|
|
|
Property, plant
and equipment
|
|
|
549
|
272
|
38
|
859
|
|
|
|
|
|
|
|
Long-lived assets:
|
|
|
|
|
|
|
Plant and
equipment
|
|
|
|
|
|
|
Cost
|
|
|
99,108
|
4,718
|
908
|
104,734
|
Accumulated
depreciation
|
|
|
(23,507)
|
(3,102)
|
(272)
|
(26,881)
|
Mineral
properties
|
|
|
179,393
|
-
|
-
|
179,393
|
|
|
|
254,994
|
1,616
|
636
|
257,246
|
(in thousands of
CAD dollars)
|
|
|
Mining
|
Closed
Mine
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
|
696
|
2,222
|
560
|
3,478
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
|
(818)
|
(2,059)
|
-
|
(2,877)
|
Exploration and
evaluation
|
|
|
(4,591)
|
-
|
-
|
(4,591)
|
General and
administrative
|
|
|
(2)
|
-
|
(1,655)
|
(1,657)
|
|
|
|
(5,411)
|
(2,059)
|
(1,655)
|
(9,125)
|
Segment income
(loss)
|
|
|
(4,715)
|
163
|
(1,095)
|
(5,647)
|
|
|
|
|
|
|
|
Revenues – supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
|
-
|
2,222
|
-
|
2,222
|
Management fees
(note 20)
|
|
|
-
|
-
|
560
|
560
|
Toll milling
services–deferred revenue (note 10)
|
|
696
|
-
|
-
|
696
|
|
|
|
|
696
|
2,222
|
560
|
3,478
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
Three
Months Ended
September
30
|
|
Nine
Months Ended
September
30
|
||||
(in thousands of
CAD dollars)
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
Management
fees:
|
|
|
|
|
|
|
|
|
Base and variable
fees
|
$
|
509
|
$
|
453
|
$
|
1,523
|
$
|
1,374
|
Commission
fees
|
|
74
|
|
107
|
|
247
|
|
110
|
Discretionary
fees
|
|
-
|
|
-
|
|
300
|
|
-
|
|
$
|
583
|
$
|
560
|
$
|
2,070
|
$
|
1,484
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
Three
Months Ended
September
30
|
|
Nine
Months Ended
September
30
|
||||
(in thousands of
CAD dollars)
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
|
|
|
|
|
|
|
|
Salaries and
short-term employee benefits
|
$
|
(465)
|
$
|
(407)
|
$
|
(1,420)
|
$
|
(1,536)
|
Share-based
compensation
|
|
(383)
|
|
(384)
|
|
(1,133)
|
|
(1,499)
|
Termination
benefits
|
|
-
|
|
-
|
|
-
|
|
(481)
|
Key
management personnel compensation
|
$
|
(848)
|
$
|
(791)
|
$
|
(2,553)
|
$
|
(3,516)
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
|
|
September
30
|
|
December
31
|
|
|
Financial
|
|
Fair
|
|
2020
|
|
2019
|
|
|
Instrument
|
|
Value
|
|
Fair
|
|
Fair
|
(in thousands of
CAD dollars)
|
|
Category(1)
|
|
Hierarchy
|
|
Value
|
|
Value
|
|
|
|
|
|
|
|
|
|
Financial
Assets:
|
|
|
|
|
|
|
|
|
Cash and
equivalents
|
|
Category
B
|
|
|
$
|
6,518
|
$
|
8,190
|
Trade and other
receivables
|
|
Category
B
|
|
|
|
3,010
|
|
4,023
|
Investments
|
|
|
|
|
|
|
|
|
Equity
instruments-shares
|
|
Category
A
|
|
Level
1
|
|
9,717
|
|
11,971
|
Equity
instruments-warrants
|
|
Category
A
|
|
Level
2
|
|
93
|
|
133
|
Restricted
cash and equivalents
|
|
|
|
|
|
|
|
|
Elliot Lake
reclamation trust fund
|
|
Category
B
|
|
|
|
3,055
|
|
2,859
|
Credit
facility pledged assets
|
|
Category
B
|
|
|
|
9,000
|
|
9,000
|
Reclamation
letter of credit collateral
|
|
Category
B
|
|
|
|
135
|
|
135
|
|
|
|
|
|
$
|
31,528
|
$
|
36,311
|
|
|
|
|
|
|
|
|
|
Financial
Liabilities:
|
|
|
|
|
|
|
|
|
Accounts
payable and accrued liabilities
|
|
Category
C
|
|
|
|
6,480
|
|
7,930
|
Debt
obligations
|
|
Category
C
|
|
|
|
640
|
|
1,002
|
|
|
|
|
|
$
|
7,120
|
$
|
8,932
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|