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Consolidated Statements of Cash Flows - CAD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES    
Net loss for the year $ (32,376,069) $ (27,306,350)
Interest received 110,886  
Interest payment on the Term Loan (980,892)  
Items not affecting cash:    
Share-based payment 657,138 7,731,117
Deferred share units granted 798,121 298,000
FV movement of deferred share units (128,114)  
Depreciation 744,783 96,543
Provision for leave and severance 332,261 177,941
Accretion on loans 674,121 70,959
Deferred tax recovery (524,531)  
Warrant fair value movement   (8,974,901)
Changes in non-cash working capital and non-current liability    
Prepaid expenses and other receivables (157,790) (1,127,061)
Trade payables and accrued expenses 254,430 3,445,230
Deferred share units redemption (83,527)  
Spare parts (212,135)  
Net cash used in operating activities (30,891,318) (25,588,522)
INVESTING ACTIVITIES    
Acquisition of property, plant and equipment (4,746,256) (737,271)
Additions to expenditures on exploration and evaluation assets (483,883) (8,578,627)
NSR Option payment received 2,750,000  
Cash received through RTO transaction   11,051,917
Net cash used in investing activities (2,480,139) 1,736,019
FINANCING ACTIVITIES    
Proceeds from issuance of units 39,774,312 23,404,857
Share issue costs (2,808,231) (1,535,727)
Proceeds from exercise of options and warrants 175,000  
Loan proceeds, net of fees 19,605,000  
Promissory Note (repayment) financing (7,637,329) 6,740,000
Vehicle loan financing 71,480 164,644
Lease payment (2,241,906)  
Net cash provided by financing activities 46,938,326 28,773,774
Effect of exchange rate changes on cash and cash equivalents 515,768 (1,748,483)
Change in cash and cash equivalents for the year 14,082,637 3,172,788
Cash and cash equivalents at the beginning of the year 5,162,991 1,990,203
Cash and cash equivalents at the end of the year 19,245,628 5,162,991
Supplemental cash flow information    
Interest paid 1,633,888 68,285
Supplemental disclosure of non-cash investing and financing activities    
Leased assets, Additions, Cost $ 1,023,615 $ 3,077,421