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PROPERTY, PLANT AND EQUIPMENT | 6 Months Ended
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Jun. 30, 2025
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT | 6. PROPERTY, PLANT AND EQUIPMENT The tables below set out costs and accumulated depreciation and amortization as at June 30, 2025 and December 31, 2024: SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT
Cost |  | Land and Buildings(1) $ |  |  | Equipment(1) (2) $ |  |  | Furniture & Fixtures $ |  |  | Vehicles $ |  |  | Computer & Software $ |  |  | Total $ |
Balance – December 31, 2023 |  |  | 2,909,637 |  |  |  | 5,476,434 |  |  |  | 191,899 |  |  |  | 398,032 |  |  |  | 567,407 |  |  |  | 9,543,409 |
Additions |  |  | 73,049 |  |  |  | 1,129,567 |  |  |  | 30,121 |  |  |  | 111,629 |  |  |  | 6,543 |  |  |  | 1,350,909 |
Foreign currency translation |  |  | 86,264 |  |  |  | (22,306 | ) |  |  | 3,857 |  |  |  | 11,561 |  |  |  | 35,317 |  |  |  | 114,693 |
Balance – December 31, 2024 |  |  | 3,068,950 |  |  |  | 6,583,695 |  |  |  | 225,877 |  |  |  | 521,222 |  |  |  | 609,267 |  |  |  | 11,009,011 |
Balance, Cost |  |  | 3,068,950 |  |  |  | 6,583,695 |  |  |  | 225,877 |  |  |  | 521,222 |  |  |  | 609,267 |  |  |  | 11,009,011 |
Additions |  |  | - |  |  |  | 1,312,094 |  |  |  | 2,804 |  |  |  | 191,563 |  |  |  | 3,669 |  |  |  | 1,510,130 |
Additions, Cost |  |  | - |  |  |  | 1,312,094 |  |  |  | 2,804 |  |  |  | 191,563 |  |  |  | 3,669 |  |  |  | 1,510,130 |
Foreign currency translation |  |  | (18,087 | ) |  |  | (34,325 | ) |  |  | (1,037 | ) |  |  | (4,013 | ) |  |  | (3,608 | ) |  |  | (61,070 | )
Foreign currency translation, Cost |  |  | (18,087 | ) |  |  | (34,325 | ) |  |  | (1,037 | ) |  |  | (4,013 | ) |  |  | (3,608 | ) |  |  | (61,070 | )
Balance – June 30, 2025 |  |  | 3,050,863 |  |  |  | 7,861,464 |  |  |  | 227,644 |  |  |  | 708,772 |  |  |  | 609,328 |  |  |  | 12,458,071 |
Balance, Cost |  |  | 3,050,863 |  |  |  | 7,861,464 |  |  |  | 227,644 |  |  |  | 708,772 |  |  |  | 609,328 |  |  |  | 12,458,071 |
Accumulated Depreciation & Amortization |  |  | Land and Buildings(1) |  |  |  | Equipment(1) (2) |  |  |  | Furniture & Fixtures |  |  |  | Vehicles |  |  |  | Computer & Software |  |  |  | Total |
Balance – December 31, 2023 |  |  | 170,256 |  |  |  | 401,409 |  |  |  | 19,079 |  |  |  | 106,083 |  |  |  | 145,948 |  |  |  | 842,775 |
Depreciation during the year |  |  | 110,535 |  |  |  | 1,229,847 |  |  |  | 14,750 |  |  |  | 113,688 |  |  |  | 162,644 |  |  |  | 1,631,464 |
Foreign currency translation |  |  | 2,609 |  |  |  | 13,358 |  |  |  | 750 |  |  |  | 4,581 |  |  |  | 25,069 |  |  |  | 46,367 |
Balance – December 31, 2024 |  |  | 283,400 |  |  |  | 1,644,614 |  |  |  | 34,579 |  |  |  | 224,352 |  |  |  | 333,661 |  |  |  | 2,520,606 |
Balance Accumulated Depreciation |  |  | 283,400 |  |  |  | 1,644,614 |  |  |  | 34,579 |  |  |  | 224,352 |  |  |  | 333,661 |  |  |  | 2,520,606 |
Depreciation during the period |  |  | 43,182 |  |  |  | 665,653 |  |  |  | 16,591 |  |  |  | 70,542 |  |  |  | 271,182 |  |  |  | 1,067,150 |
Depreciation Accumulated Depreciation |  |  | 43,182 |  |  |  | 665,653 |  |  |  | 16,591 |  |  |  | 70,542 |  |  |  | 271,182 |  |  |  | 1,067,150 |
Foreign currency translation |  |  | (1,882 | ) |  |  | (10,413 | ) |  |  | (247 | ) |  |  | (1,669 | ) |  |  | (3,300 | ) |  |  | (17,511 | )
Foreign currency translation Accumulated Depreciation |  |  | (1,882 | ) |  |  | (10,413 | ) |  |  | (247 | ) |  |  | (1,669 | ) |  |  | (3,300 | ) |  |  | (17,511 | )
Balance – June 30, 2025 |  |  | 324,700 |  |  |  | 2,299,854 |  |  |  | 50,923 |  |  |  | 293,225 |  |  |  | 601,543 |  |  |  | 3,570,245 |
Balance Accumulated Depreciation |  |  | 324,700 |  |  |  | 2,299,854 |  |  |  | 50,923 |  |  |  | 293,225 |  |  |  | 601,543 |  |  |  | 3,570,245 |
Carrying Value |  |  | Land and Buildings(1) |  |  |  | Equipment(1) (2) |  |  |  | Furniture & Fixtures |  |  |  | Vehicles |  |  |  | Computer & Software |  |  |  | Total |
Balance – December 31, 2024 |  |  | 2,785,550 |  |  |  | 4,939,081 |  |  |  | 191,298 |  |  |  | 296,870 |  |  |  | 275,606 |  |  |  | 8,488,405 |
Balance, Carrying Value |  |  | 2,785,550 |  |  |  | 4,939,081 |  |  |  | 191,298 |  |  |  | 296,870 |  |  |  | 275,606 |  |  |  | 8,488,405 |
Balance – June 30, 2025 |  |  | 2,726,163 |  |  |  | 5,561,610 |  |  |  | 176,721 |  |  |  | 415,547 |  |  |  | 7,785 |  |  |  | 8,887,826 |
Balance, Carrying Value |  |  | 2,726,163 |  |  |  | 5,561,610 |  |  |  | 176,721 |  |  |  | 415,547 |  |  |  | 7,785 |  |  |  | 8,887,826 |
Note:
(1) | Land and Buildings contains the Syringa Lodge right-of-use (“ROU”) asset and Equipment contains the drilling equipment supply agreement ROU asset. The Company obtained full title to these assets during the year ended December 31, 2024.
(2) | Included within Equipment is $945,296 related to the Selebi Hinge deep drill and other capital components that were in transit at June 30, 2025, which are currently non-depreciable.
Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and six months ended June 30, 2025 and 2024 (Expressed in Canadian dollars)

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