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Acquisition of Eastmain and formation of Fury Gold (Tables)
 12 Months Ended
Dec. 31, 2020
Disclosure of detailed information about business combination [abstract]  
Disclosure of net assets transferred
Net assets transferred      
Cash   $ 12,781  
Mineral property interests (note 9)     8,949  
Other assets     277  
Total assets     22,007  
Accounts payable and accrued liabilities (1)     (260 )
Total net assets     21,747  
Acquisition costs paid on behalf of the Spincos     1,400  
Total distribution to shareholders (2)   $ 23,147  

 

(1) Accounts payable and accrued liabilities represents a $260 amount payable to Fury Gold by the Spincos.

 

(2) The distribution reflects the derecognition of the recorded carrying value of the investments in the Peruvian subsidiaries at October 9, 2020. The fair value of those entities upon distribution was assessed as $67.7 million.

 
Disclosure of discontinued operations

The components of loss from discontinued operations on the statement of loss and comprehensive loss for the transfer of the Peruvian projects to the Spincos are as follows:

 

    Years ended December 31  
    2020     2019  
Operating expenses:            
Exploration and evaluation costs (note 14)   $ 2,892     $ 3,474  
Fees, salaries and other employee benefits     243       240  
Legal and professional fees     101       94  
Office and administration     92       68  
      3,328       3,876  
Other expenses:                
Project investigation costs     136       156  
Impairment of mineral property interests (note 9)     -       337  
Foreign exchange loss     26       16  
      162       509  
Loss from discontinued operations   $ 3,490     $ 4,385  

 

The net cash flows from the transfer of the Peruvian projects included as part of the net cash flows from discontinued operations are as follows:

 

    Years ended December 31  
    2020     2019  
             
Net cash used in operating activities   $ (3,224 )   $ (3,179 )
Net cash used in investing activities     (1,210 )     (937 )
Net cash provided by financing activities     -       -  

  
Disclosure of acquisition date fair value of the consideration paid
Purchase price      
Share consideration   $ 117,690  
Share options and warrants     3,450  
Total equity consideration     121,140  
Transaction costs attributable to Fury Gold     3,029  
Total cost of acquisition   $ 124,169  
Disclosure of purchase price allocation
Net assets acquired      
Cash   $ 413  
Marketable securities (note 6)     1,662  
Mineral property interests (note 9)     125,606  
Other assets     705  
Total assets acquired     128,386  
Accounts payable and accrued liabilities     (1,203 )
Flow-through share premium (note 11)     (590 )
Advances received for exploration on Éléonore South JV     (316 )
Provision for site reclamation and closure (note 13)     (1,849 )
Other liabilities     (259 )
Total liabilities assumed     (4,217 )
Total net assets acquired   $ 124,169