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NOTES PAYBLE
 3 Months Ended
Mar. 31, 2023
Notes Payble

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 $4,665 of the note payable was calculated using a discount interest rate of 6.71%.

 

Prior to March 21, 2023, the Company repaid the promissory note payable in full.

 

The continuity of the note payable is as follows:

 

 

 

March 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Balance at beginning of the period

 

$4,926

 

 

$-

 

Additions

 

 

-

 

 

 

4,665

 

Repayments

 

 

(5,000)

 

 

-

 

Unwinding of fair value adjustment

 

 

74

 

 

 

261

 

Balance at end of the period

 

 

-

 

 

 

4,926

 

Less: Current portion

 

 

-

 

 

 

(4,926)

Non-current portion

 

$-

 

 

$-