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11. Stock Options
 3 Months Ended
Mar. 31, 2018
Notes  
11. Stock Options

11.          Stock Options

 

In 2017, the Company granted a total of 662,500 options to consultants and employees of the Company. These options vest in 2018. The options had a fair value of $66,539 which is being recognized ratably over the vesting period. Compensation cost of $16,635 was recognized in the first quarter of 2018. The remaining unrecognized compensation cost of $25,387 is expected to be recognized in the remainder of 2018.

 

Stock based compensation costs are included in management, production, exploration, and general and administrative expenses where applicable.

 

 

 

Number of Options

 

Exercise Prices

Balance December 31, 2016

 

7,500,000

 

0.10-0.15

Expired

 

(500,000)

 

0.10

Issued

 

662,500

 

0.15-0.18

Balance December 31, 2017 and March 31, 2018

 

7,662,500

 

0.10-0.18

 

 

 

 

 

Exercisable at March 31, 2018

 

7,000,000

$

0.10-0.15

 

At March 31, 2018, the stock options have an intrinsic value of approximately $137,500 and have a weighted average remaining term of 2 years.