XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
OPERATING ACTIVITIES:          
Net loss     $ (10,183,220) $ (14,902,939)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Share based compensation (Note 4)     2,905,772 2,321,175  
Depreciation $ 30,886 $ 23,846 88,639 59,548  
Change in fair value of warrant derivative       (1,732)  
Environmental liability expense (Note 5) 854,662 22,285 1,422,288 604,222  
Unrealized foreign exchange loss (gain)     3,193 (160)  
Gain on sale of equipment     (13,333) (25,000)  
Changes in:          
Receivables     (5,641,276) (1,698,358)  
Prepaid expenses     (281,721) (738,397)  
Trade and other payables     2,298,579 2,792,882  
CWA settlement payable     (500,000) 5,000,000  
Environmental reclamation liabilities     (1,937,538) (8,650,891)  
Net cash used in operating activities     (11,838,617) (15,239,650)  
INVESTING ACTIVITIES:          
Deposit on equipment purchase     (199,568)    
Proceeds from sale of silver royalty     8,335,115    
Investment in mineral properties and interest     (333,230) (275,992)  
Purchase of building and equipment     (176,270) (153,820)  
Proceeds from sale of equipment     12,000 25,000  
Net cash provided by (used in) investing activities     7,638,047 (404,812)  
FINANCING ACTIVITIES:          
Proceeds from sale of common stock     11,005,174    
Payment of share issue costs     (606,871)    
Proceeds from exercise of share purchase options     1,786,660 82,191  
Net cash provided by financing activities     12,184,963 82,191  
Effect of foreign exchange on cash and cash equivalents     (3,193) 161  
Net increase (decrease) in cash and cash equivalents     7,981,200 (15,562,110)  
Cash and cash equivalents, beginning of period     3,229,462 22,667,047 $ 22,667,047
Cash and cash equivalents, end of period 11,210,662 7,104,937 11,210,662 7,104,937 3,229,462
NONCASH INVESTING AND FINANCING ACTIVITIES          
Recognition of operating lease liability and right-of-use asset     65,972 65,061  
CASH AND CASH EQUIVALENTS          
Cash 6,066,328 3,104,628 6,066,328 3,104,628  
Investment savings accounts 5,144,334 4,000,309 5,144,334 4,000,309  
Total cash and cash equivalents $ 11,210,662 $ 7,104,937 $ 11,210,662 $ 7,104,937 $ 3,229,462