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Plant and Equipment
 12 Months Ended
Dec. 31, 2021
Plant and Equipment  
Plant and Equipment

5. Plant and Equipment

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December 31, 2021

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December 31, 2020

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Accumulated

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Accumulated

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Cost

    

Depreciation

    

Net

    

Cost

    

Depreciation

    

Net

  

Mt Todd, Australia

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$

5,359

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$

5,126

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$

233

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$

5,306

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$

5,163

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$

143

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Corporate, United States

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333

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333

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333

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333

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Used mill equipment, Canada

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5,500

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5,500

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$

5,692

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$

5,459

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$

233

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$

11,139

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$

5,496

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$

5,643

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During the year ended December 31, 2021, the Company reduced the carrying value of the used mill equipment to $nil to reflect management’s estimate of recoverability. The Company recorded this reduction as an operating loss of $5,500 in our Consolidated Statements of Income/(Loss). The inputs used in the valuing the used mill equipment included the duration this equipment has been actively marketed by an independent broker and the current competitive market conditions for used equipment yielding no sales. These inputs used in valuing the used mill equipment involved a high degree of subjectivity and resulted in management not having the ability to estimate recoverable sales proceeds with sufficient certainty. The used mill equipment continues to be marketed by the independent broker.