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SPARE PARTS
9 Months Ended
Sep. 30, 2024
Inventory Disclosure [Abstract]  
SPARE PARTS

18. SPARE PARTS

 

Details of the movements in relation to spare parts are presented in the following table:

 

  

Spare Parts

$

 
As at December 31, 2022   - 
Additions   212,135 
Utilization   - 
As at December 31, 2023   212,135 
Additions   1,110,663 
Utilization   (120,342)
Foreign currency translation   (401)
As at September 30, 2024   1,202,055 

 

 

 

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)

 

Spare parts relate to spares for drilling equipment and underground equipment located at the Mines which are critical for the continued operations of the drilling programs in the event that certain components become worn or inoperable. Spare parts are held in reserve at the mine site and consumed when placed into service.