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Related Party Transactions
12 Months Ended
Dec. 31, 2020
Related Party Transactions [abstract]  
Related Party Transactions

15.   Related Party Transactions

 

In addition to the related party transactions and balances disclosed elsewhere in these financial statements, the Company entered into the following related party transactions during the years ended December 31, 2020, and 2019:

 

a)    Purchase of Goods and Services

 

During the years ended December 31, 2020, and 2019, the Company was charged $157 (2019: $210) for general and administrative services pursuant to a shared services agreement with Gold Group Management Inc., a company of which Simon Ridgway, the Company’s Chairman during 2020, is a director. Effective February 2, 2021, Simon Ridgway resigned as director and Chairman of the Board.

 

 

 

 

 

 

 

 

 

Years ended December 31,

 

    

2020

    

2019

Personnel costs

  

$

19

 

$

21

General and administrative expenses

  

 

138

 

  

189

 

 

$

157

 

$

210

 

 

As at December 31, 2020, the Company had outstanding balances payable to Gold Group Management Inc. of $9 (December 31, 2019 - $14).   Amounts due to related parties are due on demand and are unsecured.

 

b)    Key Management Personnel

 

During the year ended December 31, 2020, and 2019, the Company was charged for consulting services by Mario Szotlender, a director of the Company, and by Mill Street Services Ltd., a company of which Simon Ridgway, the Company’s Chairman during 2020, is a director. Such amounts, along with other key management personnel compensation expense were as follows:

 

 

 

 

 

 

 

 

 

 

Years ended December 31,

 

 

2020

    

2019

Salaries and benefits

 

$

4,266

 

$

4,716

Directors fees

 

 

707

 

 

702

Consulting fees

 

 

134

 

 

135

Share-based payments

 

 

11,115

 

 

5,449

 

 

$

16,222

 

$

11,002