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PROPERTY, PLANT AND EQUIPMENT | 9 Months Ended
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Sep. 30, 2024
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT | 5. PROPERTY, PLANT AND EQUIPMENT The tables below set out costs and accumulated depreciation and amortization as at September 30, 2024 and December 31, 2023: SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT
Cost |  | Land and Buildings (ROU Assets(1)) $ |  |  | Exploration Equipment (ROU Assets(1)) $ |  |  | 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 |
Balance , Cost |  |  | 2,909,637 |  |  |  | 1,023,615 |  |  |  | 4,202,457 |  |  |  | 191,899 |  |  |  | 38,227 |  |  |  | 398,032 |  |  |  | 567,407 |  |  |  | 9,331,274 |
Additions |  |  | - |  |  |  | - |  |  |  | 4,181 |  |  |  | 15,111 |  |  |  | - |  |  |  | 111,629 |  |  |  | 6,543 |  |  |  | 137,464 |
Additions, Cost |  |  | - |  |  |  | - |  |  |  | 4,181 |  |  |  | 15,111 |  |  |  | - |  |  |  | 111,629 |  |  |  | 6,543 |  |  |  | 137,464 |
Foreign currency translation |  |  | 88,261 |  |  |  | - |  |  |  | 123,337 |  |  |  | 3,609 |  |  |  | 1,160 |  |  |  | 12,074 |  |  |  | 35,916 |  |  |  | 264,357 |
Foreign currency translation, Cost |  |  | 88,261 |  |  |  | - |  |  |  | 123,337 |  |  |  | 3,609 |  |  |  | 1,160 |  |  |  | 12,074 |  |  |  | 35,916 |  |  |  | 264,357 |
Balance – September 30, 2024 |  |  | 2,997,898 |  |  |  | 1,023,615 |  |  |  | 4,329,975 |  |  |  | 210,619 |  |  |  | 39,387 |  |  |  | 521,735 |  |  |  | 609,866 |  |  |  | 9,733,095 |
Balance , Cost |  |  | 2,997,898 |  |  |  | 1,023,615 |  |  |  | 4,329,975 |  |  |  | 210,619 |  |  |  | 39,387 |  |  |  | 521,735 |  |  |  | 609,866 |  |  |  | 9,733,095 |
Accumulated Depreciation |  | Land and Building (ROU1 Assets) |  |  | Exploration Equipment (ROU1 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 |
Balance Accumulated Depreciation |  |  | 170,256 |  |  |  | 85,301 |  |  |  | 307,559 |  |  |  | 19,079 |  |  |  | 8,549 |  |  |  | 106,083 |  |  |  | 145,948 |  |  |  | 842,775 |
Depreciation during the period |  |  | 81,979 |  |  |  | 155,318 |  |  |  | 635,096 |  |  |  | 10,661 |  |  |  | 5,801 |  |  |  | 80,025 |  |  |  | 119,603 |  |  |  | 1,088,483 |
Depreciation Accumulated Depreciation |  |  | 81,979 |  |  |  | 155,318 |  |  |  | 635,096 |  |  |  | 10,661 |  |  |  | 5,801 |  |  |  | 80,025 |  |  |  | 119,603 |  |  |  | 1,088,483 |
Foreign currency translation |  |  | (1,776 | ) |  |  | 953 |  |  |  | 3,811 |  |  |  | 776 |  |  |  | 364 |  |  |  | 4,739 |  |  |  | 28,923 |  |  |  | 37,790 |
Foreign currency translation Accumulated Depreciation |  |  | (1,776 | ) |  |  | 953 |  |  |  | 3,811 |  |  |  | 776 |  |  |  | 364 |  |  |  | 4,739 |  |  |  | 28,923 |  |  |  | 37,790 |
Balance – September 30, 2024 |  |  | 250,459 |  |  |  | 241,572 |  |  |  | 946,466 |  |  |  | 30,516 |  |  |  | 14,714 |  |  |  | 190,847 |  |  |  | 294,474 |  |  |  | 1,969,048 |
Balance Accumulated Depreciation |  |  | 250,459 |  |  |  | 241,572 |  |  |  | 946,466 |  |  |  | 30,516 |  |  |  | 14,714 |  |  |  | 190,847 |  |  |  | 294,474 |  |  |  | 1,969,048 |
Carrying Value |  | Land and Buildings (ROU1 Assets) |  |  | Exploration Equipment (ROU1 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, Carrying Value |  |  | 2,739,381 |  |  |  | 938,314 |  |  |  | 3,894,898 |  |  |  | 172,820 |  |  |  | 29,678 |  |  |  | 291,949 |  |  |  | 421,459 |  |  |  | 8,488,499 |
Balance – September 30, 2024 |  |  | 2,747,439 |  |  |  | 782,043 |  |  |  | 3,383,509 |  |  |  | 180,103 |  |  |  | 24,673 |  |  |  | 330,888 |  |  |  | 315,392 |  |  |  | 7,764,047 |
Balance, Carrying Value |  |  | 2,747,439 |  |  |  | 782,043 |  |  |  | 3,383,509 |  |  |  | 180,103 |  |  |  | 24,673 |  |  |  | 330,888 |  |  |  | 315,392 |  |  |  | 7,764,047 |
Note:
(1) | Land and Buildings (ROU Assets) contains the Syringa Lodge right-of-use (“ROU”) asset and Exploration Equipment (ROU Assets) contains the drilling equipment supply agreement ROU asset (Note 9).
Additions to property, plant and equipment during the year ended December 31, 2023 included the acquisition of drilling equipment for $1,023,615 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 nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars)

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