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NOTES PAYBLE | 3 Months Ended
--- | ---
Mar. 31, 2022
Notes Payble Discloser |
12. | NOTE PAYABLE
On March 21, 2022, the Company closed the acquisition of the La Preciosa property from Coeur Mining Inc. (see Note 4 for further details). As part of the agreement, the Company issued a promissory note payable of $5 million due on or before March 21, 2023. The present value of the note payable was calculated using a discount interest rate of 6.71%. The note is unsecured and non-interest bearing assuming that the note is repaid in full on or before March 21, 2023. If the note is not repaid by March 21, 2023, a sum of $1 million shall be added to the principal amount and the note shall bear interest at a rate of 7% per annum and will be payable on demand. The continuity of the note payable is as follows:
|  | March 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Balance at beginning of the period |  | $ | - |  |  | $ | - |
Additions |  |  | 4,665 |  |  |  | - |
Repayments |  |  | - |  |  |  | - |
Unwinding of fair value adjustment |  |  | 9 |  |  |  | - |
Balance at end of the period |  |  | 4,674 |  |  |  | - |
Less: Current portion |  |  | (4,674 | ) |  |  | - |
Non-current portion |  | $ | - |  |  | $ | - |

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- Definition The disclosure of trade and other payables. [Refer: Trade and other payables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration