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PROPERTY, PLANT AND EQUIPMENT
 6 Months Ended
Jun. 30, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

5. PROPERTY, PLANT AND EQUIPMENT

 

The tables below set out costs and accumulated amortization as at June 30, 2024 and December 31, 2023:

 

SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT

Cost 

Land and
Buildings
(ROU
Assets)

$

  

Exploration
Equipment
(ROU
Assets)

$

  

Exploration
Equipment

$

  

Furniture
and
Fixtures

$

  

Generator

$

  

Vehicles

$

  

Computer
and
software

$

  

Total

$

 
Balance – December 31, 2023   2,909,637    1,023,615    4,202,457    191,899    38,227    398,032    567,407    9,331,274 
Additions   -    -    128,277    -    -    -    -    128,277 
Foreign currency translation   35,304    -    47,034    2,570    464    4,829    28,325    118,526 
Balance – June 30, 2024   2,944,941    1,023,615    4,377,768    194,469    38,691    402,861    595,732    9,578,077 

 

Accumulated
Depreciation		  Land and
Building
(ROU
Assets)		   Exploration
Equipment
(ROU
Assets)		   Exploration
Equipment		   Furniture
and
Fixtures		   Generator   Vehicles   Computer
and
software		   Total 
Balance – December 31, 2023   170,256    85,301    307,559    19,079    8,549    106,083    145,948    842,775 
Depreciation during the period   54,356    102,362    433,069    7,031    3,846    50,056    83,182    733,902 
Foreign currency translation   (2,695)   -    (382)   274    127    1,589    21,330    20,243 
Balance – June 30, 2024   221,917    187,663    740,246    26,384    12,522    157,728    250,460    1,596,920 

 

Carrying
Value		  Land
(ROU
Assets)		   Exploration
Equipment
(ROU
Assets)		   Exploration
Equipment		   Furniture
and
Fixtures		   Generator   Vehicles   Computer
and
Software		   Total 
Balance – December 31, 2023   2,739,381    938,314    3,894,898    172,820    29,678    291,949    421,459    8,488,499 
Balance – June 30, 2024   2,723,024    835,952    3,637,522    168,085    26,169    245,133    345,272    7,981,157 

 

 

 

Notes to the Unaudited Condensed Interim Consolidated Financial Statements

For the three and six months ended June 30, 2024

(Expressed in Canadian dollars)

 

Cost

 

 

Land and
Buildings
(ROU
Assets)

$

  

Exploration
Equipment
(ROU
Assets)

$

  

Exploration
Equipment

$

  

Furniture
and
Fixtures

$

  

Generator

$

  

Vehicles

$

  

Computer
and
software

$

  

Total

$

 
Balance – December 31, 2022   3,077,420    -    11,973    126,605    31,381    241,884    1,950    3,491,213 
Additions   -    1,023,615    4,190,484    65,998    8,557    187,310    585,561    6,061,525 
Foreign currency translation   (167,783)   -    -    (704)   (1,711)   (31,162)   (20,104)   (221,464)
Balance – December 31, 2023   2,909,637    1,023,615    4,202,457    191,899    38,227    398,032    567,407    9,331,274 

 

Accumulated
Depreciation		  Land and
Building
(ROU
Assets)		   Exploration
Equipment
(ROU
Assets)		   Exploration
Equipment		   Furniture
and
Fixtures		   Generator   Vehicles   Computer
and
software		   Total 
Balance – December 31, 2022   51,123    -    1,447    1,872    562    39,589    1,950    96,543 
Depreciation during the year   119,133    85,301    306,112    14,030    6,212    69,997    143,998    744,783 
Foreign currency translation   -    -    -    3,177    1,775    (3,503)   -    1,449 
Balance – December 31, 2023   170,256    85,301    307,559    19,079    8,549    106,083    145,948    842,775 

 

Carrying
Value		  Land
(ROU
Assets)		   Exploration
Equipment
(ROU
Assets)		   Exploration
Equipment		   Furniture
and
Fixtures		   Generator   Vehicles   Computer
and
Software		   Total 
Balance – December 31, 2022   3,026,297    -    10,526    124,733    30,819    202,295    -    3,394,670 
Balance – December 31, 2023   2,739,381    938,314    3,894,898    172,820    29,678    291,949    421,459    8,488,499 

 

Additions to property, plant and equipment during the year ended December 31, 2023 included the purchase of drilling equipment for $1,023,000 through a lease agreement with a drilling company (Note 9) as well as vehicles financed through a local Botswana bank.

 

 

 

Notes to the Unaudited Condensed Interim Consolidated Financial Statements

For the three and six months ended June 30, 2024

(Expressed in Canadian dollars)