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Consolidated Statements of Cash Flows - CAD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021
Operating activities: |  |  |
Earnings (loss) for the year | $ (17,213) | $ 24,908 | $ (16,790)
Adjusted for: |  |  |
Interest income | (590) | (228) | (36)
Items not involving cash: |  |  |
Net gain on disposition of mineral interests | (468) | (48,390) | 0
Losses on marketable securities | 655 | 135 | 1,180
Depreciation | 343 | 341 | 371
Impairment expense | 0 | 5,506 | 42
Net loss from associates | 6,182 | 5,880 | 0
Amortization of flow-through share premium | (3,345) | (3,124) | (4,520)
Accretion of provision for site reclamation and closure | 148 | 94 | 69
Share-based compensation | 1,351 | 1,669 | 2,046
Interest expense | 61 | 100 | 98
Other | 0 | 0 | 1
Changes in non-cash working capital | (184) | (903) | 266
Cash used in operating activities | (13,060) | (14,012) | (17,273)
Investing activities: |  |  |
Interest income | 590 | 228 | 36
Acquisition of mineral interests, net of cash acquired | 0 | (1,281) | 0
Acquisition of Eastmain Resources Inc, net of cash acquired | 0 | 0 | (1,210)
Option payment received | 125 | 310 | 150
Acquisition of Universal Mineral Services Ltd | 0 | (1) | 0
Acquisition of Homestake Ridge royalty, inclusive of fees | 0 | 0 | (110)
Proceeds from disposition of mineral interests, net of transaction costs | 1,350 | 4,479 | 0
Proceeds from disposition of investment in associate, net of transaction costs | 0 | 6,774 | 0
Proceeds from sale of marketable securities | 381 | 0 | 1,000
Property and equipment additions, net of disposals | 0 | 0 | (87)
Marketable securities additions | 0 | (60) | 0
Decrease (increase) in restricted cash | 0 | (14) | 35
Cash provided by used in investing activities | 2,446 | 10,435 | 186
Financing activities: |  |  |
Proceeds from issuance of common shares, net of costs | 7,838 | 10,864 | 5,385
Lease payments | (214) | (235) | (180)
Proceeds from share option and warrant exercises | 0 | 0 | 152
Cash provided by financing activities | 7,624 | 10,629 | 5,357
Effect of foreign exchange on cash | (6) | (2) | 0
Increase (decrease) in cash | (2,996) | 7,050 | (12,102)
Cash, beginning of the year | 10,309 | 3,259 | 15,361
Cash, end of the year | $ 7,313 | $ 10,309 | $ 3,259

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